E-commerce chief takes Jetblack reins
Walmart Inc. has appointed Nate Faust, who oversees supply chain and logistics for the retailer's U.S. e-commerce operations, as chief executive of the urban personal-shopping service Jetblack, a Walmart spokesman said Tuesday.
Faust replaces Jenny Fleiss, who the spokesman said will "transition away from from leading day-to-day business operations to focus her entrepreneurial expertise on new areas of our business. She'll continue to support Jetblack as an advisor, spokesperson and ambassador, and will join the Walmart Customer Organization as an advisor, reporting directly to [Chief Customer Officer] Janey Whiteside."
Fleiss co-founded Jetblack in March 2017 with Marc Lore, a Jet.com co-founder and chief of Walmart E-commerce U.S. In 2009, she co-founded designer clothing rental company Rent the Runway, now reportedly valued at more than $1 billion.
Faust, another co-founder of Jet.com, moved to Walmart with Lore in 2016 when the Bentonville retailer bought the e-commerce site for $3.3 billion.
-- Serenah McKay
J.B. Hunt certified as safe cold carrier
J.B. Hunt Transport Services, Inc. said Tuesday that it's one of the first seven carriers to be named a "Certified Cold Carrier" by the International Refrigerated Transportation Association.
The cold carrier program, created earlier this year, honors companies for their commitment to sanitary and safe transportation of perishable goods, a news release said. They are required to follow the association's "Best Practices Guide" and comply with the Food Safety Modernization Act.
"This certification displays our commitment to the safe transportation of our nation's food supply and represents the hard work and attention to detail our drivers and personnel provide on a daily basis," Greer Woodruff, J.B. Hunt's senior vice president of safety, security and driver personnel, said in a statement Tuesday.
The certification is one of the only industry programs recognizing safe and sanitary food transport. It is valid for three years.
-- Nathan Owens
State index ticks up, ends day at 445.71
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Tuesday at 445.71, up 0.84.
"Stocks took a breather on Tuesday after a flood of earnings reports were released and amid growing concern over how likely the U.S. and China will be able to finalize their trade deal in time for the Asia-Pacific Economic Cooperation summit next month," said Chris Harkins, managing director at Raymond James & Associates in Little Rock.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 10/30/2019