Retail businesses have been impacted by this year’s economic disruptions, but opportunities still exist for businesses to optimize, survive and thrive. Here are five strategies you can adopt today.

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!


4 min read

Opinions expressed by Entrepreneur contributors are their own.


It has never been easier to start a retail business. Whatever your interests are or whatever the market you want to serve is, a wide range of developments have made it possible to launch a retail business much more efficiently than say, 10 years ago.

First, white label manufacturing has grown exponentially. You can get products of any type made and shipped to you without any branding so you can put your materials on them and sell as your own unique product. If you want to build a completely custom product, you can do that by outsourcing the manufacturing. You can also utilize drop shipping if you’d prefer to focus on marketing alone, which is something that social media and online e-commerce platforms have made very efficient.

But starting a retail business is completely different from growing and scaling one, and the

This is the web version of Data Sheet, Fortune’s daily newsletter on the top tech news. To get it delivered daily to your in-box, sign up here.

Happy Juneteenth.

Yesterday in this space, my colleague Danielle Abril reviewed Alphabet CEO Sundar Pichai’s pledge to increase black representation in the company’s senior ranks. Later in the day, Pichai spoke with another of my colleagues, Ellen McGirt, to elaborate on his views.

In a far-ranging interview, Pichai touches not just on the problems of hiring and diversity in Google’s executive ranks, but also how the company can make an impact in the wider world. Part of Pichai’s plan will direct $100 million to invest in black-led startups and capital firms. Part of Google’s response will be to rethink where it locates major offices, as well. Pichai mentions Atlanta, Washington D.C., and Chicago as places with more diverse populations and robust communities.

“It’s been a long journey,” Pichai says. “I’ve heard it before, but to hear stories, particularly in this context, it’s clear that there is systemic racism that permeates not just dealings with law enforcement, but be it housing, be it education, be it health care and in the workplace, …

Good morning, Broadsheet readers! Justice Sonia Sotomayor argues that the Supreme Court went too easy on President Trump in its decision upholding DACA, Land O’Lakes CEO Beth Ford writes about another Court decision, and we commemorate Juneteenth. 

– Commemorating Juneteenth. Today, June 19, is Juneteenth, which celebrates the date in 1865 when slaves in Galveston, Texas learned they were free—more than two years after the Emancipation Proclamation. As Emma reported earlier this week, Juneteenth is the oldest commemoration of the end of slavery in the United States, but hasn’t been honored as a holiday or taught in history classes throughout much of the country.

That’s changing this year, as protests over police brutality and racial discrimination and injustice sweep the country.

Twitter and Square were first to announce they would make June 19 a paid holiday for employees last week and were soon followed by at least 200 other U.S. companies. Some said they would recognize the holiday this year, while others vowed to make it permanent.

Tamika Nunley, an assistant professor of American history at Oberlin College who studies slavery, gender, and the Civil War, told Emma that employers’ marking of the day is more than a …

© 2020 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy (Your California Privacy Rights) | CCPA Do Not Sell My Information | Ad Choices 
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html.
S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions. | EU Data Subject Requests

Source link

Wirecard AG shares continued their free-fall after the two Asian banks that were supposed to be holding €1.9 billion ($2.1 billion) of missing cash denied any business relationship with the German payments company.

Wirecard now faces a potential cash crunch. The company warned Thursday that loans up to €2 billion could be terminated if its audited annual report was not published on Friday. Analysts at Morgan Stanley estimated that Wirecard has available cash of around 220 million euros, if it cannot locate the missing $2.1 billion.

“It was a rogue employee who falsified documents and forged the signatures of our officers,” BDO Unibank Chief Executive Officer Nestor Tan said in a mobile phone message. “Wirecard is not even a depositor — we have no relationship with them”.

The Bank of the Philippine Islands said in a separate statement that Wirecard isn’t a client and it continues to investigate the issue.

Wirecard shares plunged 24% at 9:11 a.m. in Frankfurt on Friday, taking the stock’s losses to 71% since Wednesday’s close. The company that was worth 24.6 billion euros in September 2018 when it entered Germany’s Dax index is currently valued at about 3.4 billion euros.

The denials from BDO and …

This is the web version of CEO Daily. To get it delivered to your inbox, sign up here.

Good morning.

Top executives had another reason to speak out yesterday, after a Supreme Court decision that leaves in place the Obama-era immigration program known as Deferred Action for Childhood Arrivals, or DACA. “The 478 Dreamers at Apple are members of our collective family…We’re glad for today’s decision,” said Apple’s Tim Cook. “Today’s SCOTUS decision is a victory for the country,” tweeted Microsoft President Brad Smith. And IBM Executive Chair Ginni Rometty told a virtual gathering of Fortune’s Most Powerful Women: “It’s a great day for the world.”

Rometty also made some predictions about how the world of work will change in the post-COVID era:

“I think very clearly there will be a hybrid work model in the future. There is a role for being in an office. Innovation and culture suffer otherwise. What we envision is: Does the office become an innovation hub? Our real estate assumptions profoundly change.”

Separately, since it’s Friday, some feedback. Tuesday’s post and podcast on GM’s Mary Barra brought in diverse responses:

“This is why Mary Barra is my choice for VP.”
–J.P.

“It