Fresh Funding: Instacart, a same-day grocery delivery service, has raised $200 million in new funding, bringing its valuation to $4.2 billion. According to Reuters, this gives the startup new resources to compete with Amazon, which recently announced it would be testing 2-hour deliveries from Whole Foods Market via its Prime Now service. Whole Foods has been one of Instacart's biggest investors. In fact, the startup signed a multiyear deal with Whole Foods in 2016 to "be the exclusive delivery provider for most of its goods."
Store Closure: Barneys New York is shutting down its Upper West Side store, which is one of three locations the retailer has in New York City. Retail Dive reports the move is likely due to the company having changed ownership many times, leading to an overwhelming amount of debt. Barneys has been increasingly looking to digital to better target its customers.