Today In Retail: Camping World Makes Deal For Maine Location; Foxtrot Market Lands $42 Million
In today’s top retail news, Camping World Holdings said it struck a deal to purchase Lee’s Family Trailer, while Foxtrot Market has landed $42 million in Series B growth investment. Plus, new data indicates that Amazon Prime keeps outpacing Walmart+.
Camping World Signs Deal To Buy Maine Location
Camping World Holdings announced that it signed a deal to buy Lee’s Family Trailer in Windham, Maine. The new Maine facility will move to the Camping World brand, with the aim of opening in April. “It’s our intention with acquisitions like this to complete our goal of operating our recreational dealer platform in all 48 contiguous states,” Camping World Holdings CEO and Chairman Marcus Lemonis said in an announcement.
Foxtrot Market Raises $42 Million In Series B Round
Foxtrot Market has notched $42 million in Series B growth investment via a round led by Almanac Insights and Monogram Capital Partners. Many other investors participated in the firm’s Series B round. The firm said it foresees doubling its store count by the end of 2021 with the investment. Foxtrot, which rolled out in 2014, joins together an upscale corner store and café with app-based commerce that makes all of it inventory available for delivery in less than an hour.
New Data Shows Amazon Prime Continues To Outpace Walmart+
As Walmart goes into the new year, new data from PYMNTS indicated that Walmart+ has made some progress versus Amazon Prime, but it’s certainly not the dramatic bounce that the firm was aiming for. And recent comments from Walmart CEO Doug McMillon indicated that the firm is seeking more data and an enhanced client experience from the offering. “Over time, more and more of our customers will want Walmart+ because it makes life better,” he told analysts.
With 1,100 Stores, Does A Kohl’s Comeback Begin In The Boardroom?
Macy’s may sell more stuff, but, in terms of store count, Kohl’s is second to none, with 1,100 locations in its collection. It’s a real estate reality that has caught the attention of activist investors aiming to ride the retail company to new peaks, starting with a boardroom coup that would add nine new names to its list of directors.