E-commerce company Amazon on Wednesday launched the beta in the US for a new discount storefront, Amazon Haul, focused on selling items $20 (£15.82) and below.
The move positions Amazon to better compete with Chinese discount shopping sites Temu and Shein.
In a blog post on Wednesday, Amazon said that the storefront features fashion, home, lifestyle and electronics products among others, which are backed by its A-to-Z guarantee and will have delivery times of one to two weeks.
Amazon said that while all items are price at $20 or less, the majority cost $10 and under, with some priced as low as $1.
Dharmesh Mehta, vice president of worldwide selling partner services at Amazon, said: "It’s early days for this experience, and we’ll continue to listen to customers as we refine and expand it in the weeks and months to come."
Amazon shares rose following the announcement, closing Wednesday's session up 2.5%.
This latest news comes after Amazon recently posted third quarter revenue and earnings per share that came in above Wall Street expectations.
Shares in embattled server maker Super Micro Computer fell 6% in Wednesday's session and were down nearly another 9% in pre-market trading on Thursday.
The latest fall in shares came after Super Micro said it would be delaying the filing of its finance report for the September quarter, having also failed to file its annual, with concerns the company could now be delisted from the Nasdaq (^IXIC).
Ernst & Young (EY) recently resigned as Super Micro's auditor, saying it was "no longer be able to rely on management's and the audit committee’s representations and to be unwilling to be associated with the financial statements prepared by management".
Disney shares were muted in pre-market trading on Thursday morning, ahead of the company releasing its fiscal fourth quarter earnings.
The focus in this set of results will on whether Disney can sustain recent momentum in streaming and stabilise demand within its park business after lagging in the previous quarter.
The earnings also follow a recent report from the Wall Street Journal, which said the pool of candidates that could succeed CEO Bob Iger is expanding as the executive is set to leave Disney for a second time by the end of 2026.
This latest report will be the first time investors will have the opportunity to delve into year-on-year trends in its three core business segments — Disney Entertainment, Experiences and Sports — after Iger reorganised the company into this structure last year.
Wall Street is expecting Disney to post total revenue of $22.47bn for the fourth quarter, according to estimates compiled by Bloomberg, compared with $21.24bn last year. Investors are anticipating earnings per share of $1.10 for the quarter, compared to $0.82 for the same period last year.
Computer network equipment maker Cisco logged another quarterly fall in revenue in its fiscal first quarter results, released on Wednesday.
The company said revenue had fallen 6% to $13.8bn in its first quarter, compared with the same quarter last year.
Cisco also reported a 25% fall in net income to $2.7bn and a 24% decline in diluted earnings per share to $0.68.
For the second quarter, it guided to revenue of between $13.75bn and $13.95bn, and expected full-year revenue to come in at between $55.3bn and $56.3bn.
While the results beat expectations, shares in Cisco were still down more than 4% in pre-market trading after the release of the figures.
Scott Herren, chief financial officer of Cisco, said: "Revenue, gross margin and EPS in Q1 were at the high end or above our guidance range, generating strong operating leverage."
"We are focused on solid execution and operating discipline while making strategic investments to drive innovation and growth."
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Luxury fashion brand Burberry unveiled a new strategy to help improve performance. ·BENJAMIN CREMEL via Getty Images
Shares in British luxury fashion brand Burberry jumped 18% on Thursday morning, after its recently appointed CEO Joshua Shulman said the company was "acting with urgency to course correct" following recent underperformance.
Burberry reported a 22% fall in revenue to £1.09bn in the first half of its fiscal year, as well as a loss of £53m.
The company unveiled a new strategy to help improve performance and outlined immediate actions it had taken in the last 90 days. This included initiating a cost savings programme of around £40m in annualised savings, and starting a global roll out of "scarf bars" to accentuate this area of products in its stores.
Richard Hunter, head of markets at Interactive Investor, said: "The new strategy is unlikely to result in overnight success although the group’s aspirations have been clearly stated.
"Burberry wishes to return to a more focused and traditional luxury brand, with particular emphasis on the outerwear for which it has become traditionally known, while eschewing the more modern and niche launches which simply did not resonate with their customers.
"Burberry can only hope that these results represent a line in the sand, and that its revised energy will return it to previous glories."
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Other companies in the news on Thursday 14 November:
