L Brands Reports September 2017 Sales

Office Depot, Inc. announced it is pivoting the company from a traditional office products retailer to a broader business services and technology products platform. As the first step in this new strategic direction, the company has entered into a definitive agreement to acquire CompuCom Systems, Inc. ("CompuCom"), a market-leading provider of award-winning IT services, products and solutions that enable the digital workplace for enterprise, small and midsize businesses. The company also provided a preliminary estimate of third-quarter financial results and a lowered outlook for Office Depot's stand-alone business for 2017. "Technology is the office supply of the future," said Gerry Smith, chief executive officer of Office Depot. "Today marks a significant milestone as we move to provide a unique business services platform for our current and future customers. Acquiring CompuCom is the first step in this new strategic direction. The combination of CompuCom's enterprise IT services with our millions of customers and approximately 1,400 distribution points gives us the credibility and scale to build a sustainable platform and stand apart from the competition. The company will create value for shareholders from a diversified revenue base with a clear opportunity to grow higher value services and business-to-business revenues." Click Read More below for additional detail.

Lawyers for Newegg, Wayfair and Overstock petitioned the U.S. Supreme Court, requesting that it decline to review a South Dakota Supreme Court decision that would require larger online retailers to collect sales tax on purchases made in the state. Online retailers are asking the U.S. Supreme Court to decline review of a case that would require larger e-retailers to collect sales tax from South Dakota residents and pay it to the state. The South Dakota law would require out-of-state retailers that don’t have a physical presence in the state and generate least $100,000 in online sales or more than 200 transactions in the state to collect sales tax from South Dakota customers and then remit those taxes to the state. Click Read More below for additional information.

Adobe released the findings of its Authenticity in the Age of AI Study, which surveyed over 2,000 U.S. consumers on their perception and experience with misinformation online in the lead up to the 2024 presidential election. As part of its commitment to responsible innovation, including fostering a more trustworthy and transparent digital ecosystem with Content Credentials, Adobe commissioned the study to understand how public sentiment on the threat of misinformation has shifted as the U.S. presidential election approaches. The study also explores consumer attitudes toward AI-edited content and the increasing importance of provenance tools and solutions to maintain trust during major news moments and global events. “The proliferation of misinformation has eroded public trust. Without a way for to verify the authenticity of digital content, we’re approaching a breaking point where the public will no longer believe the things they see and hear online, even when they are true,” said Jace Johnson, Vice president, Global Public Policy at Adobe.