Retail Roundup—Instacart gets more funding; Amazon lays off staff

Instacart
Instacart announced another round of funding. (Instacart)

Instacart closes another round of funding

Instacart has closed a $200 million series E financing led by Coatue Management and Glad Brook Capital Partners. With the new funding, Instacart plans to build more robust shopper support teams and software to ultimately boost customer service. (Progressive Grocer)

Amazon lays off staff

Amazon announced the layoff of hundreds of corporate employees just after announcing a giant growth spurt in other areas. Cutbacks will happen at other locations also and are primarily focused on the marketplace's customer retail businesses. (The Seattle Times)

L.L. Bean finally alters generous returns policy

After almost a century of a very generous return policy, L.L. Bean announced it will now only allow returns on products up to one year from the time of purchase. Apparently, a growing number of customers have been interpreting the policy as a lifetime product replacement program, expecting refunds for heavily worn products. (USA Today)

Retailers want data breach notification for all industries

Retailers banded together to say that any new data breach notification law passed by Congress should cover all industries that handle consumer data. The National Retail Federation and lawmakers are leading the charge, as similar legislation introduced in the House Financial Services Committee in 2015 would have made notification of breaches mandatory for retailers but voluntary for financial institutions. (NRF)

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