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Stanley Black & Decker $1B Ecommerce Sales, FedEx Drops Amazon, and Walmart Cuts Jet President

Drills

Stanley Black & Decker Generates $1B in Ecommerce Sales

Global tool manufacturer Stanley Black & Decker Inc. is making waves after reporting to have generated $1 billion in ecommerce sales last year. The Connecticut-based company that has manufactured tools for over 176 years attributes this success to its expanding global ecommerce presence as well as omnichannel and pure online content. Stanley isn’t planning on slowing down anytime soon, as all forms of ecommerce is now a corporate and global strategic priority. “Our global retailers are well-positioned, and we are the industry leader in ecommerce and believe the opportunities will continue to grow in both emerging and developed markets,” says Stanley CEO James Loree.

What stood out to us? The oldest and most-trusted tool brand leads in ecommerce. #warmfuzzy


Shipping center

FedEx Drops Amazon for U.S. Express Shipments

FedEx is breaking up with Amazon. The shipping giant chose not to renew its FedEx Express US contract with Amazon, and will instead “focus on serving the broader ecommerce market.” While other contracts and international deliveries between the two companies will remain unchanged, this break up wasn’t a huge surprise. Only 1.3% of FedEx’s 2018 revenue came from Amazon, and FedEx has been gearing up to tackle more deliveries all its own for some time. “We respect FedEx's decision and thank them for their role serving Amazon customers over the years,” says an Amazon spokesperson in a statement.

What stood out to us? A pre-emptive breakup to remain popular.


Walmart building

Walmart Cuts President of Jet.com

Walmart has announced that Simon Belsham’s role as President of Jet.com has been eliminated. The infamous big box retailer purchased the ecommerce platform Jet.com over two years ago, but this move solidifies Walmart’s plans to fully integrate and fold Jet into its business completely. Belsham will remain with Jet until August, and in the meantime Walmart is set to merge the rest of Jet’s teams, including product and marketing, within itself. “We don’t have the same need for a dedicated leader [at Jet anymore],”  says Marc Lore, co-founder of Jet.com and current head of Walmart’s e-commerce business in the U.S. “This natural progression of integrating an acquisition, allows us to fully leverage Walmart’s assets for Jet and leverage Jet’s talent for Walmart.”


What stood out to us? Good time to happen Simon. Hot job market!


In the headlines

  • Stitch it up: Subscription apparel retailer Stitch Fix grew its online revenue by 29%.
  • I’m lovin it?: McDonald’s has purchased personalization vendor Dynamic Yield Ltd. to show personalized food on drive-thru displays.
  • Target Locked: Target is expanding one-day delivery to compete with Walmart and Amazon.
  • Fly buy: Apollo Global will buy the heavily in-debt Shutterfly for $1.74 billion.

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