Tipsheet: ‘Bonus Preppers’ | Rihanna Launches | Kayne Shuts Down
Colorado logs $106M in recreational cannabis sales in March by Alica Wallace at Denver Post. “In total, the shops tallied up $135.2 million in sales during the month, up 3.7 percent from March 2017. The monthly haul — consisting of $29.2 million of medical marijuana sales and roughly $106 million in recreational sales…” Read more
Nestle falls behind as millennials warm up to frozen meals at Reuters. “Jeff Hamilton, who heads Nestle’s U.S. food business, said in an interview the company did not have the manufacturing capacity ready to meet extra demand for its Stouffer’s Fit Kitchen and Lean Cuisine meals. He described it as “sudden, significant and beyond our expectations.” Read more
Toys ‘R’ Us execs grabbed bonuses ahead of bankruptcy by Lisa Fickenscher at NY Post. “It’s very unusual for the C Suite to leave before the business is entirely wound down,” said bankruptcy lawyer Richard Weltman.” Read more
Groupon sees comeback as push to eliminate hassles begins to pay off by Olga Kharif at Bloomberg. “Earnings amounted to 3 cents a share in the first quarter, excluding some items. Analysts had expected a break-even performance. Revenue came in at $626.5 million, beating the $603.9 million prediction.” Read more
Target doubles down on more plus-size offerings in stores by Dan DeBaun at Minneapolis/St.Paul Business Journal. “Target will boost its plus-size women’s offerings in about 300 stores by the end of 2018, compared to 150 stores right now. It will also expand its existing plus-size sections at the stores, located in the women’s department.” Read more | WSJ article (subs.)
Cato April Same-store Sales Down 6% Press release
Amazon is building a ‘health & wellness’ team within Alexa as it aims to upend health care at CNBC. “…includes over a dozen people and is being led by Rachel Jiang, who has spent the last 5 years at Amazon in various roles including advertising and video.” Read more
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Apple and Goldman Sachs Teaming Up for New Credit Card by Sarah Gray at Fortune. “It’s unclear what any rewards would be for consumers or which card carrier Apple and Goldman would use. WSJ did report, however, that “the partnership will extend into other services including Goldman offering in-store loans to Apple customers buying iPhones and other gadgets.” Read more
Wayfair Announces Winners of 2018 Wayfair Professional Tastemaker Awards Press release
‘BONUS PREPPERS’ – The Upscale Way to Prepare for Doomsday—from $79,500 Teslas to $275 Jeans by Jeff Bercovici at Wall Street Journal. “Rather than stockpile beans, ‘bonus preppers’ ready themselves for the apocalypse with the finer things: luxury cars, chic water filters, cunning energy systems and fashion fit for Armageddon.” Read more (subs.)
The Buckle April Comp Sales -3.4% Press release
Rihanna Launches Lingerie Collection Savage X by Lindsay Weinberg at Hollywood Reporter. “Her 90 styles include bodysuits, corsets, rompers, jumpsuits, robes and accessories—we’re talking crops, handcuffs, satin restraints, eye masks and garters for “bad gal RiRi.” Read more
Kanye West’s 2XU activewear launch in Sydney is shut down after just 45 minutes after customers fail to turn up to buy his $500 bike shorts at Daily Mail. Read more
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