Macy’s plans to reopen 68 U.S. stores on Monday at Reuters. "It expects to have all of its roughly 775 stores reopened in six weeks, if infection rates taper off as projected and state and local governments allow it." Read more   Walmart CEO joins coronavirus relief effort with business opportunity by Lisa Fickenscher at NY Post. "Walmart CEO Doug McMillon has signed up for the digital fundraising campaign, All-In Challenge...McMillon and his management team have agreed to vet 10 small businesses who participate in auctions for the opportunity to present their business plans. Starting bids for the 10-minute [...]

  US first-quarter GDP shrank 4.8%, vs 3.5% decline expected at CNBC. "When the Commerce Department makes its revisions to the initial GDP reading, the result could show a decline of about 3 to 4 percentage points for a total slide of 8.25%, according to a Goldman Sachs estimate." Read more   Amazon turns to Chinese firm on U.S. blacklist to meet thermal camera needs at Reuters. "Amazon has bought cameras to take temperatures of workers during the coronavirus pandemic from a firm the United States blacklisted over allegations it helped China detain and monitor the Uighurs and other Muslim [...]

  TODAY: Target CEO appears on CBS This Morning to discuss the safety protocols in the stores and how he is addressing concerns from workers 5:16 video   GOP Sen. Hawley asks DOJ to open a criminal investigation into Amazon at CNBC. "In his letter to Attorney General William Barr dated Tuesday, Hawley said the Journal’s reporting appears to meet the definition of a punishable crime under antitrust law. “Amazon abuses its position as an online platform and collects detailed data about merchandise so Amazon can create copycat products under an Amazon brand,” he wrote." Read more   YESTERDAY: President Trump [...]

  Investors to challenge Neiman Marcus bankruptcy loan, push for sale - sources at Reuters. "The investors behind the 11th-hour financing proposal view Saks Fifth Avenue owner Hudson’s Bay Co as a logical buyer, and also expect other suitors to show an interest in Neiman Marcus, the sources said." Read more   CVS Health names Kym White chief comms officer at PR Week. "White was most recently SVP and chief communications officer for Vertex Pharmaceuticals, a global biotechnology company based in Boston." Read more   Amazon tests using live video calls to vet aspiring third-party sellers, seeking to weed out [...]

  Amazon Scooped Up Data From Its Own Sellers to Launch Competing Products at Wall Street Journal. "We knew we shouldn’t,” said one former employee who accessed the data and described a pattern of using it to launch and benefit Amazon products. “But at the same time, we are making Amazon branded products, and we want them to sell.” WSJ subs.   Instacart is adding 250,000 more shoppers at TechCrunch. Read more   J.C. Penney in Advanced Talks for Bankruptcy Financing at Wall Street Journal. "Penney is in discussions with existing lenders including Wells Fargo & Co., Bank of America [...]

  Target sees a 7%+ jump in comp sales for its fiscal first quarter - but shares tumble as retailer says first-quarter profits will be hurt by higher costs at CNBC. "In an interview with CNBC’s “Squawk Box,” Cornell said Target is trying to figure out if customers’ new shopping patterns are here to stay. “We are spending a lot of time trying to understand how the pandemic is going to change the future of how American consumers shop..." he said. “But it’s been really hard to predict week by week.” Video/Read more   Walmart taps Target exec William White [...]

  Ex-True Value CEO named Bed Bath & Beyond COO "Prior to (True Value), (John) Hartmann was Chief Executive Officer of leading home improvement company Mitre 10, Chief Operating Officer at HD Supply, and has held senior positions at The Home Depot, Cardinal Health and the Federal Bureau of Investigation." Press release   Macy’s weighs raising as much as $5 billion in debt to weather coronavirus crisis at CNBC. "It will seek to use its inventory as collateral to raise $3 billion and real estate to raise $1 billion to $2 billion, they said. It is not planning to pledge [...]

  Lord & Taylor explores bankruptcy as stores remain shut in coronavirus pandemic at Reuters. "It is one of several options that the retailer and its advisers are exploring...some of the sources said, adding that no final decisions have been made. Fashion rental service start-up Le Tote acquired Lord & Taylor last year from Saks Fifth Avenue owner Hudson’s Bay Company for C$100 million." Read more   ‘It’s Black Friday in April’ as Closed Stores Get Desperate to Unload Spring Clothes by Suzanne Kapner at Wall Street Journal. "Retailers are discounting heavily on their websites, but consumers aren’t rushing to buy [...]