Afternoon Coffee: Target Gets Boost from Supply Chain Efficiency, Hyundai Makes Shift to Premium Electric Vehicles

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Target Corp. saw its sales at stores open at least a year rise 1.3% in the second quarter and digital sales spring 32% from a year ago, the Wall Street Journal reports. A big contributor to those boosts was a concerted effort by the retailer to improve its supply chain, by “reducing its inventory more than 4% from a year ago and linking e-commerce fulfillment more closely to stores.”

Hyundai’s Strategy

A departure from its previous positioning toward fuel cell technology, Hyundai said Thursday it would place electric vehicles at the center of its product strategy going forward, according to Reuters. The South Korean automaker is planning to launch by 2021 a high-end model that competes with Tesla, driving 310 miles on a single charge.

Robot Rising 

The North American robotics market had its best opening half ever to begin 2017, according to a press release from the Association for Advancing Automation (A3).  In total, 19,331 robots valued at approximately $1.031 billion were sold in North America during the first half of 2017.

Business Inventories 

And finally, an economic update: U.S. business inventories rose 0.5% in June, the biggest recorded increase in seven months, CNBC reports. Retailers drove much of the increase, as they increased stock in response to rising domestic demand.

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