Archive for month: March, 2020

 

Walmart enacting emergency leave policy for its 1.4 million hourly US workers at NY Post. “…hourly workers who work in a store, club, office or distribution center will receive up to two weeks pay if they’re required to quarantine by the government or by the retailer. Workers who have a confirmed case of the virus will also receive two weeks of pay. If they are not able to return to work after that time, additional pay may be provided for up to 26 weeks for both full- and part-time hourly workers.” Read more

 

Amazon Battles Counterfeit Masks, $400 Hand Sanitizer Amid Virus Panic at Wall Street Journal. “The company scans billions of price changes a week and has removed 530,000 offers and suspended 2,500 accounts because of coronavirus-related price gouging, (an Amazon spokesperson) said. The company also removed millions of products that make unsupported claims about the coronavirus, he added.” WSJ subs.

 

Build-A-Bear Q4 total revenues +3.0% Press release

 

Amazon will donate $5M to help small businesses near its headquarters mitigate coronavirus losses by Monica Nickelsburg at GeekWire. Read more

 

CVS Pharmacy to acquire 110 Schnucks pharmacies Press release

 

Hy-Vee replacing all 22 Market Grille restaurants with Wahlburgers by John Ewoldt at Star Tribune. “Of the 45 employees who worked at the Brooklyn Park location, seven or eight were asked to stay on to work at the new Wahlburgers at a lower pay rate, the employee said. Some general managers were given two weeks severance pay.” Tiered subs.

 

Lowe’s CEO Marvin Ellison at BofA Securities 2020 Consumer & Retail Technology Conference at Seeking Alpha. Transcript

 

Express, Inc. Q4 comp sales -3.0% Press release

 

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America’s Best Startup Employers (Allbirds #1) at Forbes. List

 

SpartanNash Promotes Thomas Swanson to Executive Vice President and General Manager, Corporate Retail Press release

 

US consumer prices grew 0.1% in February as food costs rose at AP. Read more

 

PepsiCo buying energy drink maker Rockstar for $3.85B at AP. Read more

 

How Square took on a challenge from Amazon — and won by Clare Duffy at CNN. “The answer to Square’s success, McKelvey said, was that it didn’t just sell iPhone-connected card readers — it operated nearly every aspect of its business differently from traditional payments or point-of-sale companies, forcing it to develop what he calls an “innovation stack.” Video/Read more

 

Dick’s Sporting Goods CEO Ed Stack on Q4 Earnings Call at Seeking Alpha. Transcript

 

Congressman Gaetz slept in Walmart parking lot to avoid infecting others with possible coronavirus by Jim Thompson at Pensacola News Journal. “On board Air Force One on Monday, as soon as he got his chief of staff’s message, Gaetz told someone that he needed to go into isolation immediately…He was placed in an unoccupied office aboard Air Force One, with the door closed, for the flight back to Washington, D.C.” Read more

 

Tipsheet Extra

California hotels are being used for coronavirus quarantines

NBC News Explores Streaming Options for ‘Today’

Tesla is eyeing Nashville for Cybertruck gigafactory

Dyson’s newest beauty product is a $499 hair straightener

Amazon invites sellers to Mexico Hot Sale 2020

Restaurant urges customers to stop paying with cash to slow coronavirus

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Amazon to start selling cashierless Go system to other retailers at AP. “The world’s biggest web retailer said it has “several” signed deals with customers it would not name. A new website Monday will invite others to inquire about the service, dubbed Just Walk Out technology by Amazon.” Read more

 

Costco is pulling free samples over COVID-19 by Kelly Tyko & Jessica Guynn at USA Today. “It was not immediately known if Costco has pulled samples from all stores in the U.S. or only in select areas or when the suspension would end.” Read more

 

Consumer Brands Association wrote a letter to Attorney General William Barr on Monday urging him to take action on sellers taking advantage of the coronavirus outbreak at CNBC. Read more

 

Amazon won’t dock warehouse workers for missing shifts during coronavirus crisis at CNBC. “The company informed employees Sunday that it will not count any unpaid time (UPT) off should they need to take it during the month of March.” Read more

 

Japan’s economy shrinks 7% in last quarter, risks recession at AP. Read more

 

Tesco agrees $10.6bn sale of Thai and Malaysian operations at Financial Times. “The UK’s largest supermarket chain on Monday announced the proposed deal, which is Asia’s largest corporate acquisition in the year to date and the biggest in Thailand’s history.” Read more

 

Ace Hardware cancels convention at McCormick Place amid coronavirus concerns at WGN. “The trade show was scheduled (to start) March 11 and run through March 14.” Read more

 

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Modell’s prepping for bankruptcy filing by Lisa Fickenscher at NY Post. “In an interview last month, Modell had blamed his company’s woes on “lousy” local sports teams that have depressed jersey sales, as well as a shorter holiday selling season and the warm winter, which hit jacket, boot and glove sales.” Read more

 

Walmart plans to bolster private fleet with push to hire 500 new truck drivers at Yahoo Finance. “To lure drivers, Walmart is touting a generous average salary of $87,500 per year for a newcomer, well above the median salary of $53,000 of a truck driver working a national, irregular route makes in a year…” Read more

 

Albertsons files for initial public offering at MarketWatch. Read more

 

Amazon Reduces Seller Fees for Fashion in UK, Europe at eCommerceBytes. “The referral fee has changed from a flat 15% in UK, Germany, France, Italy, Spain and the Netherlands, to 15% on the portion of the price up to €45/£40, and 7% on the portion of the sales price over €45/£40.” Read more

 

eBay bans face mask and hand sanitizer listings to halt coronavirus price gouging at The Verge. Read more

 

Amazon is secretly working on a cure for the common cold at CNBC. “…top secret effort called “Project Gesundheit,” according to three people familiar with the effort. The company has more than 100 working out of Grand Challenge, a research and development group that sits under its cloud division, AWS.” Read more

 

Tipsheet Extra

People fighting over ‘rotten’ food on coronavirus-stricken cruise: passenger

Boston braces for large crowds as 1st pot shop opens

Postmates says it will start ‘non-contact’ meal deliveries

U.S. Govt. Makes it Harder to Get .Gov Domains

Hy-Vee to Close Online Fulfillment Centers

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Bed Bath & Beyond has tapped Walgreens’ Chief Merchandising Officer Joe Hartsig to become its chief merchant at CNBC. Read more

 

Nordstrom shares dive on earnings miss, Erik Nordstrom to become sole CEO at CNBC. “Nordstrom said full-price net sales during the quarter rose 1%, and off-price net sales — for its Nordstrom Rack division — were up 1.8%. Digital sales climbed 9% and represented 35% of total sales, compared with 33% a year ago.” Read more

 

…Integrating Trunk Club into Nordstrom full-line stores and Nordstrom.com Earnings release

 

Target’s next frontier: Convenience stores and alcohol pickup by Phil Wahba at Fortune. “Target’s top executives told Wall Street analysts at its annual strategy update on Tuesday that its 100 smaller format stores, typically 30,000 square foot—a fraction of the traditional Target’s size—have proved to be such a boon that Target will test out an even smaller 6,000-square-foot model. That’s about the size of a Dollar General store or a convenience store.” Read more

 

…Target Outlines 2020 Strategic Initiatives “… offering an assortment of fresh grocery and adult beverage items via Order Pickup and Drive Up fulfillment…Testing will begin in Minneapolis-area stores in the spring, with plans to expand this service to nearly half of Target’s stores in time for the holiday season.” Press release | Earnings call transcript

 

Survey: U.S. businesses added 183,000 jobs in February at AP News. Read more

 

Ross Stores Q4 comp sales +4.0% Press release

 

Hygiene brand called ‘racist’ for Target ad at HuffPo via Yahoo. “I said nothing about our product being only for black girls,” Dixon noted. She also highlighted the company’s tagline: “made by humans with vaginas, for humans with vaginas.”…The outpouring of positive messages saw The Honey Pot’s sales double by almost 50% on Monday, Dixon told BuzzFeed.” Read more

 

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J.D. Power Study on Online Flowers: Proflowers.com ranks #1 in customer satisfaction, 1-800-Flowers.com ranks #2 Press release

 

Amazon employee in Seattle tests positive for coronavirus by Monica Nickelsburg at GeekWire. “The employee went home sick on Tuesday, Feb. 25 and later tested positive for COVID-19. Amazon notified employees who came into close contact with the individual. The employee is based out of Amazon’s Brazil building at 400 9th Ave N, near downtown Seattle.” Read more

 

…Seattle feels like ‘ghost town,’ at NBC News. “Millions of people visit Pike Place Market annually. But the stalls are empty this week. Vendors aren’t flinging fish to one another; instead, they’re checking their phones or reading a book.” Read more

 

Lowe’s Canada selling Ace Canada business to owner of TSC Press release

 

Amazon inks deal to stream New York Yankees baseball games on Prime Video by Taylor Soper at GeekWire. “21 Yankees games on Prime Video later this year. The live MLB content will be free for Prime members, but only available to those in the Yankees “home-team footprint”.” Read more

 

WinCo Foods slated to open third Las Vegas store next week at Las Vegas Sun. Read more

 

Mindy Grossman: Risking the unconventional at CNBC. “And when she was ready to move on from HSN, she got calls from headhunters about “giant” retail jobs. They would tell her: “Go run this $30 billion company. Go take on this role. And I said ‘Look, it’s not what I want to do. I’ve done it. And I really feel that my next role is going to be something different,” Grossman told CNBC’s “The Brave Ones.” Read more/Video

 

Tipsheet Extra

US toy makers see business boom

Jeff Bezos’ Blue Origin space venture drops hints on plans

Amazon Studios cancels SXSW plans due to coronavirus

States scramble to prepare ahead of food stamps rule change

Toms founder launches a wellness kit inspired by his own struggles

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Eye on Retail Tipsheet is must-read material for retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.

 

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Target Q4: comp sales +1.5% / digital comp +20% / same-day services accounted for more than 80% of Q4 comp digital sales growth Press release

 

…Target cancels in-person investor day in New York City due to coronavirus at CNBC. Read more

 

Kohl’s holiday quarter earnings, sales beat estimates:

Earnings per share: $1.99, adjusted, vs. $1.88 expected

Net sales: $6.53 billion vs. $6.52 billion expected

Same-store sales: flat vs. a drop of 0.1% expected
CNBC

 

Hudson’s Bay CEO Helena Foulkes reportedly on the way out as retailer prepares to go private at CNBC. “Hudson’s Bay Co. Chief Executive Helena Foulkes is leaving the company in the coming weeks, The Wall Street Journal reported on Tuesday morning, based on conversations with people familiar with the matter…It is not immediately clear who will be replacing Foulkes.” Read more

 

Publix Q4 comp sales +3.6% Press release

 

AutoZone Q2 comp sales -0.8% Press release

 

International Housewares Association cancels trade show at McCormick Place due to coronavirus worries at CBS 2 Chicago. Read more

 

Coronavirus fears prompt postponement of Natural Products Expo West – hope to set a new date by mid-April at The Orange County Register. Read more

 

Target Adds a Slice of Brooklyn with Boar’s Head Meats, Cheeses by Matthew Boyle at Bloomberg. “Target is bringing between 50 and 200 items from Brooklyn-born Boar’s Head to as many as 200 of its stores this year.” Tiered subs.

 

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Amazon expands same-day delivery with new network of mini warehouses near cities by Nat Levy at GeekWire. “The tech giant has quietly built smaller versions of its fulfillment centers closer to customers in Philadelphia, Phoenix, Orlando and Dallas…The new warehouses allow Amazon to offer more than 3 million items for same-day delivery in those cities.” Read more

 

Lawmakers Propose Making E-Commerce Companies Liable for Counterfeits by Alan Rappeport at NY Times. “The bill, called the Shop Safe Act, would create trademark liability for companies selling counterfeit goods that pose risks to consumer health and safety, like drugs and medical products. It would also force companies to more rigorously vet sellers who operate on their platforms and to remove counterfeit listings and those who repeatedly sell knockoffs.” Tiered subs.

 

EBay looking to sell South Korean unit at Reuters. “EBay is looking to sell its South Korean unit, which includes Gmarket, one of the largest online marketplaces in the country, in a deal that could fetch nearly $5 billion, a Seoul-based newspaper reported on Tuesday.” Read more

 

Diane Von Furstenberg Launches First-Of-Its-Kind #InCharge Initiative With Amazon For Women’s History Month by Maneet Ahuja at Forbes. “As part of the collaboration—a first for (Amazon)…von Furstenberg will appear on Amazon’s homepage on March 8, International Women’s Day, to showcase diverse and inspiring women-owned small businesses and share her #InCharge mission.” Read more

 

Welcome to Walmart. The doctor will see you now by Nathaniel Meyersohn at CNN. “Marcus Osbore, Walmart’s vice president of health and wellness transformation, said in an interview that people who come into the clinics often have not seen a primary care physician in two or three years, or a dentist in five years…”What we’re finding is all comers,” he said. “Unfortunately, the need is everywhere” in America.” Read more

 

The Fresh Market names ex-Sobeys exec new CEO “Jason Potter has over 30 years of experience in the grocery industry…Most recently, he served as EVP of Operations, having previously served as President Sobeys West, Sobeys Atlantic and President of Multi-Format Operations.” Press release

 

JD.Com Announces CFO Succession at Forbes. “(Sidney) Huang, who assumed the CFO post in 2013, will step down in September and be replaced by Sandy Xu, the current CFO of the company’s JD Retail unit.” Read more

 

NO FEAR SHOPLIFTING – Some Seattle merchants see shoplifting on the rise at Seattle Times. “(Employees) say much of the stealing is done by people who used to hit the Bartell at Third and Union, which, despite heavy security measures, closed in November after what former employees said was $1 million in theft-related expenses in 2019. “Now, they’re coming here,” said an employee at Fifth and Olive…a co-worker refilled a shelf of Sensodyne toothpaste emptied by shoplifters the night before. “You fill it today and tomorrow it’s gone,” she said. “No mercy.” Tiered subs.

 

Tipsheet Extra

Wendy Williams claims she was racially profiled at Bergdorf Goodman in NYC

How to make your own hand sanitizer

Amazon’s AI generates images of clothing to match text queries

Amazon says two employees in Italy have contracted coronavirus

Buffett dismisses coronavirus, widens Delta Air Lines stake

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Eye on Retail Tipsheet is must-read material for retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.

 

Subscribe to Eye on Retail Tipsheet here

 

Contact us: Put your product or service in front of the most powerful retail execs in the world, send advertising inquiries to info@eyeonretail.net

 

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