Shares of GameStop (NYSE: GME) are tumbling 8.2% at 12:50 p.m. Thursday afternoon on no news specific to the video game retailer, though the stock has fallen almost 14% since it announced a plan to split its shares a week ago. GameStop is attempting to navigate the video game industry's transition to a greater online and digital format that lessens the relevance of a physical retailer in the space. Chairman Ryan Cohen has espoused a belief the retailer should sell much of its brick-and-mortar presence and become the foremost e-commerce presence for the industry, in effect becoming the "Amazon of gaming." Read More...
Reuters
India’s Tata launches “super app” in e-commerce challenge to Amazon, Walmart
India’s Tata Group on Thursday launched its much-awaited e-commerce “super app” offering everything from apparel to air tickets in a renewed push for a slice of a fast growing market dominated by Amazon.com and Walmart’s Flipkart. Tata Neu, which has been in the works for about two years, is a single platform for the group’s brands, including Westside fashion, Air Asia tickets, Croma electronics, the Taj group of hotels, BigBasket online grocery and 1mg online pharmacy. “Our aim is to make the lives of Indian consumers simpler and easier,” Tata’s Chairman N Chandrasekaran said on LinkedIn, adding that its joint venture airline Vistara and recently acquired Air India, as well as watch brand Titan will be available on the app soon.
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