Tipsheet: WM Eyes 20% of Flipkart | Old Navy #30 Give Back | Amazon Biz Deliv
Walmart Might Be Spending Billions for a Stake in Flipkart at Fortune. “Walmart is in discussions to pay several billion dollars for as much as 20% of India e-commerce leader Flipkart Online Services, according to a person familiar with the matter. The world’s biggest retailer would invest in Flipkart as part of a proposed deal that would increase the startup’s valuation as high as $20 billion, said the person.” Read more
Amazon reportedly launching a delivery service for businesses at CNBC. “The service is called “Shipping with Amazon” and will see the tech giant picking up packages from businesses and delivering them to customers, the WSJ said, citing people familiar with the matter. Amazon’s business delivery is expected to roll out in Los Angeles in the coming weeks with third-party merchants that sell goods via its website. More cities are to follow.” Read more | WSJ article (subs.)
NRF projects retail sales will grow between 3.8 and 4.4 percent this year, excluding automobiles, gas stations and restaurants at CNBC. “That compares with NRF’s forecast last year of growth between 3.2 and 3.8 percent. A jump of 4.4 percent would be the biggest increase since 2011, when retail sales climbed 5 percent.” Read more
Walmart, AT&T Bolster Their Tax Savings in Paying Worker Bonuses by Lynnley Browning at Bloomberg. “Walmart isn’t accounting for that charge in 2017, according to Randy Hargrove, a Walmart spokesman. If it had, Walmart could have saved $245 million. Instead, the $700 million deduction at the 21 percent rate will equal tax savings of $147 million.” Read more
Fresh Market is hitting the brakes on its growth plans by Kathrine Peralta at Charlotte Observer. “In an email Thursday, the upscale grocery chain told the Observer that it will not be opening any new stores this year despite previously announced expansion plans.” Read more
TODAY – New details on Amazon’s private meeting with Seattle officials by Monica Nickelsburg at GeekWire. List of attendees
Canada’s Trudeau makes his pitch for HQ2 as he tours San Francisco’s tech scene at CNBC. “Trudeau landed meetings with Salesforce CEO Marc Benioff, Amazon’s Jeff Bezos and eBay’s Devin Wenig, as well as Robert Bradway, the head of biotech company Amgen.” Read more
CVS Q4 Net Revenue +5.3% Press release
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Flight Club — the retail Mecca for sneakerheads — is merging with the GOAT sneaker app by Jason Del Rey at Recode. “The combination of GOAT and Flight Club is expected to create a powerhouse in the burgeoning sneaker resale market, which has exploded into mainstream pop culture over the last decade, especially among teen boys and men in their 20s.” Read more
Walmart updates app to make shopping at an actual store easier and faster by Charisse Jones at USA Today. “…customers who compile a digital shopping list within Walmart’s app will find out how much they’ll have to pay — including sales tax– before they leave the house. Once they get to the store, the app’s new “store assistant’’ experience will include a map to guide customers…” Read more
PROGRESS – Rite Aid has transferred 1,114 stores and related assets to Walgreens “We have now completed more than half of the planned store transfers and remain on track to finish the process in the spring of this year,” said Rite Aid Chairman and CEO John Standley.” Press release
Ingles Q1 comp sales (ex-gas) +2.2% Press release
Same-day delivery service Deliv launches Deliv Rx for same-day prescriptions by Sarah Perez at TechCrunch. “…will power same-day delivery of prescriptions for select Walgreens, as well as Kay Pharmacy, Phil, Phox Health, Rancho Park and others.” Read more
Walmart makes push to sell online goods at $10 by Nandita Bose at Reuters. “Walmart’s goal is to see higher profit margins selling these more expensive items given the built-in cost of delivering goods purchased online, according to the people familiar with Walmart’s new strategy.” Read more
The Buckle January Comp Sales +0.2% Press release
Lawmakers, Alcohol Industry Tussle Over Cancer Labels on Booze by Saabira Chaudhuri at Wall Street Journal. “A month after slapping bright red and yellow cancer warnings on bottles of wine, vodka and other tipple late last year, workers at the government-run liquor store in Whitehorse, Canada, took them all off again. “Alcohol can cause cancer,” read the labels, part of a government-funded pilot program.” Read more (subs.)
CVS boosts hourly minimum wage to $11 after tax cut by Nathan Bomey at USA Today. “CVS also plans to increase its paid parental leave policy to four weeks at 100% compensation for all new parents.” Read more
Tipsheet Extra Stories
The 50 Best Workplaces for Giving Back in 2018 (Patagonia #15, Old Navy #30)
US gunmaker Remington seeks financing to file for bankruptcy protection
Shrinking Gems Are a Headache for the Diamond Industry
Jimmy Buffett Done with Margaritas on His New ‘No Sugar & No Carbs’ Diet
‘Astonishing Number’ Of Viruses Float Down On Us From The Sky
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