Oil prices dropped sharply and the DOW shifted upwards as the Strait of Hormuz reopened. The strait will be open, according to the Iranian foreign minister, for the remainder of the planned ceasefire (more).

Uber Eats is now enabling customers to send back certain retail items purchased through the platform, receiving an instant refund when doing so. Shoppers request a return through the app, and couriers come to pick it up (more).

Walmart is pushing for a remodeling of over 650 stores stateside, with wider aisles and modernized pharmacy departments being a focus. The retailer also plans to open 20 new stores this year (more).

QVC Group has filed for Chapter 11 bankruptcy in the hopes of trimming its debt load from $6.6 billion to $1.3 billion. “[The] process will allow for QVC Group to have the financial structure it needs to accelerate our return to growth,” CEO David Rawlinson said (more).

Gatorade is about to get a big makeover, expanding its product line while also removing artificial dyes from its lineup in a quest to appeal to a broader audience. “It is no longer enough just to dominate the classic sports drink shelf,” said researcher Howard Telford (via CNN Business).