Archive for month: May, 2020

 

US consumer spending sinks by record 13.6% in face of virus at AP. “Even with employers cutting millions of jobs, personal incomes soared 10.5% in April, reflecting billions of dollars in support through government payments in the form of unemployment aid and stimulus checks.” Read more

 

Costco Q3 comp sales +4.8% / +7.8% excluding gas & f/x Press release

 

Amazon expands use of SNAP benefits for online grocery to 11 more states at TechCrunch. “With these additions, Amazon customers on public assistance can shop online for groceries across a total of 25 U.S. states plus Washington, D.C. At checkout, they can pay for groceries using their SNAP EBT.” Read more

 

Target Closes 24 Stores Around Twin Cities As Protests Continue at CBS 4 WCCO. List of stores 

 

Dollar Tree CEO wonders how long a sales surge from customers spending coronavirus checks can last at CNBC. “The discount retailer usually observes a sales spike related to tax refunds, Philbin said. But the increase following the disbursement of stimulus checks…has been tax refunds “on steroids,” he said.” Read more

 

Lumber Liquidators: Q1 comp sales -0.9% / Announces Charles Tyson as President & CEO Press release

 

Williams-Sonoma total comp brand revenue growth of 2.6%: Pottery Barn Kids and Teen at 8.5%, Williams Sonoma at 5.4% and West Elm at 3.3% Press release

 

Big Lots Q1 comp sales +10.3% “For the second quarter to date, comparable sales are up strongly, reflecting a continuation of the acceleration in business that began in mid-April. The company expects comp trends to moderate over the balance of the quarter…” Press release

 

Ulta Beauty Q1 comp sales -35.3% Press release

 

***A message from SPS Commerce. Tired of waiting weeks or even months to onboard new vendors? SPS Commerce can help! Onboard your vendors on EDI within 48 hours by eliminating technology as a barrier. Immediately address spikes in demand or add new products in key categories. More than 3,000 organizations rely on our proven approach to vendor onboarding. Visit our website for details or contact us at 866-245-8100.

 

Nordstrom sales fall 40%, but retailer says it has ‘sufficient liquidity’ to weather pandemic at CNBC. “Sales at its full-price department stores were down 36%, and sales at its off-price Nordstrom Rack division were down 45%. The retailer says roughly 40% of its department stores are now back open for business.” Read more

 

Costco plans to bring back samples at USA Today. “…during Costco’s quarterly earnings call Thursday, officials said they were targeting a mid-June return of the freebies.” Read more

 

JCPenney plans to reopen nearly 500 stores by June 3 Press release

 

UPS Adds Peak Delivery Surcharge to Manage E-Commerce Demand Amid Coronavirus at Wall Street Journal. “Another surcharge adds $31.45 onto each large package shipped, which could hit items like desks, patio umbrellas and trampolines that have been popular online purchases during lockdowns across the U.S…That fee would apply to shippers after they ship more than 500 large packages in a week.” WSJ subs.

 

Plastic bags, antibiotic reporting are among proposals likely to be rejected by Walmart shareholders at Talk Business. “Walmart will hold its annual shareholder business meeting virtually at 10:30 a.m. on June 3…” Read more

 

Home Depot CEO Craig Menear Presents at Bernstein’s 36th Annual Strategic Decisions Conference at Seeking Alpha. Transcript

 

Comcast, Charter and ViacomCBS Join Forces to Make TV Commercials More Targeted at Wall Street Journal. “Blockgraph acts as a service that helps brands and ad-inventory sellers match data sets without sharing too much personal data on the viewers, the company says. For instance, if a car maker buys a data set of people in the market for a car, it could use Blockgraph’s technology to match that list up with cable subscribers based on their home address…” WSJ subs. 

 

PetSmart has named Deutsch L.A. its agency of record following a review, according to people familiar with the matter Adweek subs.

 

Aldi adding curbside grocery pickup to nearly 600 stores in 35 states this summer at USA Today. “However, the added convenience can come at a price. Aldi, well known for its low prices, says its groceries will cost more than what shoppers would pay in-store.” Read more

 

Alibaba’s InTime department store chain turns to live-streaming to boost sales during coronavirus at CNBC. “The move has pushed online sales to account for 20% of the company’s total so far this year versus a “single digit” number in 2019, CEO Chen Xiaodong told CNBC.” Read more

 

Tipsheet Extra

Kum & Go’s First-Ever Urban Store Welcomes Customers

Amazon.com was down for many in the US for a short while Thur afternoon

Animal drive-thru coming to a Bass Pro Shops’ parking lot

JC Penney Assures Sale And Reorg Plans Are On Track

Tyson Foods to close Iowa pork plant amid coronavirus outbreak

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Walmart announces a strategic partnership with fashion resale marketplace thredUP at TechCrunch. “…over 750,000 items from thredUP will be available on walmart.com/thredup, starting today. Notably, only clothing items and shoes marked as “new” or “like new” will be listed, though accessories and handbags marked as “gently used” will also be available…” Read more

 

Tractor Supply updates Q2 outlook: expects comp sales growth of 20% to 25% Press release

 

Tuesday Morning declares bankruptcy, to close 33% (230 of its 687 total) of its stores at MarketWatch. Read more

 

Amazon in Advanced Talks to Buy Self-Driving-Car Tech Company Zoox at Wall Street Journal. “An agreement may be weeks away, one of the people cautioned, and the discussions could still fall apart.  Zoox, founded in 2014, has been working to develop the hardware and software needed to create electric-powered, robot taxis that would be summoned by smartphone app starting this year.” WSJ subs.

 

‘Something isn’t right’: U.S. probes soaring beef prices at Politico. “The Department of Justice is looking at the four largest U.S. meatpackers — Tyson Foods, JBS, National Beef and Cargill — which collectively control about 85 percent of the U.S. market for the slaughter and packaging of beef, according to a person with knowledge of the probe…” Read more

 

J.C. Penney announces new home brand Linden Street Press release

 

***A message from SPS Commerce. Tired of waiting weeks or even months to onboard new vendors? SPS Commerce can help! Onboard your vendors on EDI within 48 hours by eliminating technology as a barrier. Immediately address spikes in demand or add new products in key categories. More than 3,000 organizations rely on our proven approach to vendor onboarding. Visit our website for details or contact us at 866-245-8100.

 

Amazon, Costco, Walmart land top favorability ratings for food retailers during coronavirus at Fox Business. “According to Magid Food and Beverage Insights Tracker, polling 1,000 shoppers for May 2020, 30 percent more shoppers feel favorable about Amazon’s efforts than not, leading all retailers. Costco followed with a differential of 25 percent, Walmart at 22 percent, and Publix and Kroger at 21 percent.” List/Read more

 

Lowes still number one in radio –  airing 68,382 commercials on radio stations last week at Radio Ink. Read more

 

Hibbett Sports Q1 comp sales -19.5% Press release

 

Walmart’s Mexico unit pays scaled-down tax of $358 million after government talks at Reuters. “In recent weeks, the (Mexican) president has threatened to make public the names of 15 companies he said owed a total of $2 billion in taxes.  Some Mexican media speculated that Walmart de Mexico, also known as Walmex, was on the list…” Read more

 

REI Co-op and West Elm debut retail partnership with co-curated summer collection Press release

 

Ira Kress appointed president of Giant Food at Supermarket News. “Kress has served as interim president of Giant since July 2019, taking over from Gordon Reid, who was named president of Ahold Delhaize’s Stop & Shop supermarket chain in the Northeast.” Read more

 

PriceSmart plans to open its 46th warehouse club on June 17, 2020 in Liberia, Costa Rica Press release

 

Tipsheet Extra

Woman Nabbed For Spitting On Grocery Items

What to expect at Amazon’s first virtual shareholder meeting

Dollar General Expands Fresh Produce Offerings

Trump threatens to shutter social media companies after Twitter warning

New York City is Papa John’s fastest growing market

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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

 

Website: eyeonretail.net

 

Amazon reportedly delays Prime Day sales event until September at CNBC. “The company this week decided it would delay the two-day summer event, which is typically held in July, according to the Journal…Representatives from Amazon declined to comment on the news.” Read more | WSJ subs.

 

…Last week, Amazon began allowing its third-party sellers of items unrelated to the coronavirus to ship inventory to its warehouses without caps on how much inventory they send, according to one of the people. WSJ subs.

 

Best Buy Q1 domestic comp sales down 5.7% “Domestic online revenue of $3.34 billion increased 155.4% on a comparable basis…As a percentage of total Domestic revenue, online revenue increased to approximately 42.2% versus 15.4% last year…Domestic gross profit rate was 23.0% versus 23.7% last year.” Press release

 

BJ’s Wholesale Q1 comp sales (ex-fuel) +27% “…including digitally enabled sales growth of 350%…Adjusted EBITDA increased by 56.3% year-over-year to $193.9 million, for the first quarter of fiscal 2020.” Press release

 

TJX Q1 net sales down 52.5% Press release

 

Macy’s forecasts a first-quarter loss of up to $1.1 billion at CNBC. “The company also said in an investor presentation, walking through its first-quarter forecast, that it expects to have “sufficient liquidity” to execute on its 2020 priorities.” Read more

 

Ace Hardware Q1 comp sales +4.2% “Acehardware.com revenues up 63 percent…5.1 percent increase in average ticket partially offset by a 0.9 percent decrease in same-store transactions.” Press release

 

Lowe’s CEO says it’s had an edge during the pandemic: A large base of DIY customers at CNBC. “Lowe’s had two other major advantages, (Ellison) said. Many of its professional customers are “pickup truck pros” who operate small businesses that haven’t been as hard-hit by the pandemic. Also, he said, about 25% of its stores are in rural areas, which have felt less of an impact from the virus when compared with urban centers like New York City.” Read more

 

Bernie Sanders blasts Kroger CEO’s pay as ‘disgusting’ by Alexander Coolidge at Cincinnati Enquirer. Read more

 

Home Chef confirms breach after 8 million user records found on the dark web at TechCrunch. Read more

 

***A message from SPS Commerce. Are you ordering more product than you actually need or running out of inventory when you need it most? SPS Commerce can help you order exactly what you need with confidence by getting real-time order status from your vendors. More than 3,000 organizations rely on our proven process for automating data exchange with vendors. Get the data you need to reduce inventory by up to 20%! Visit our website for details or contact us at 866-245-8100.

 

Target CEO Brian Cornell @ CNBC Mad Money tonight 6PM ET

 

Vogue and the Council of Fashion Designers of America partner with Amazon to launch a digital storefront this month that features the work of smaller designers at CNBC. Read more

 

Boot Barn Q4 comp sales down 4.7% Press release

 

CEO of Calvin Klein owner: Clothes returned to go into quarantine at CNBC. “We’ve closed our fitting rooms for now, and we’ve extended our return policy and we’ve made it more generous,” Chirico said Wednesday on CNBC’s “Squawk Box.” “When goods are returned, we basically put goods in quarantine for 48 to 72 hours. We provide a cleaning to those goods before they go back onto the floor.”  Read more

 

Shoe Carnival Q1 comp sales down 41.9% Press release

 

Shopify announces a new merchant debit card and support for payment installment plans at TechCrunch. Read more

 

Victoria’s Secret plans to permanently close approximately 250 stores in the U.S. and Canada in 2020 at USA Today. Read more

 

Amazon launches food delivery service in India at TechCrunch. Read more

 

Tipsheet Extra

Amazon launches first solar energy facility in China

CDC now says coronavirus ‘does not spread easily’ on surfaces

Gap rushes in more robots to warehouses to solve virus disruption

Amazon launches first big-budget video game

Gallup sees biggest drop in Americans who say they are avoiding public places

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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

 

Website: eyeonretail.net

 

Walmart U.S. Q1: comp sales +10.0% / ecom +74%

 

Sam’s Club Q1: comp sales +12.0% / ecom +40% Press release

 

…CNBC: Walmart earnings soar as e-commerce sales jump, shoppers flock to stores “The second quarter has started off pretty well as we continue to see the stimulus money come in for consumers,” (CFO Biggs) added…Total revenues grew by 8.6% to $134.62 billion from $123.9 billion a year earlier, exceeding Wall Street’s expectations of $132.80 billion.” Read more

 

Home Depot U.S. comp sales +7.5% Press release

 

…Fox Business: Home Depot hit with $850M coronavirus-related charge “Home Depot Inc.’s first-quarter profit slid 11 percent from a year ago as the company emphasized coronavirus safety measures and enhanced employee benefits.” Read more

 

Kohl’s Q1 net sales down 43.5% Press release

 

…Reuters: Kohl’s online sales surge amid lockdown, reopens about half of its stores “…online sales rose 24% overall in the quarter and more than 60% in April, dwarfing earlier growth as the chain limited operations to its app and website.” Read more

 

Advance Auto Parts Q1 comp sales down 9.3% “Through the first four weeks of the second quarter, comp store sales improved significantly each week.” Press release

 

***A message from SPS Commerce. Are you ordering more product than you actually need or running out of inventory when you need it most? SPS Commerce can help you order exactly what you need with confidence by getting real-time order status from your vendors. More than 3,000 organizations rely on our proven process for automating data exchange with vendors. Get the data you need to reduce inventory by up to 20%! Visit our website for details or contact us at 866-245-8100.

 

Costco is no longer limiting the number of members allowed per card in most of its US stores at Business Insider. “Stores in Kentucky and Puerto Rico warehouses are the exception, and will not allow more than one person per membership card to enter stores.” Read more

 

Pier 1 Imports to close all 540 stores after 58 years at NY Post. Read more

 

Jousting with Congress over Bezos testimony, Amazon says it will send ‘the appropriate’ executive at GeekWire. Read more

 

Could Amazon be interested in buying J.C. Penney? at Dallas Morning News. “There is an Amazon team in Plano as we speak,” one source told WWD. “There is a dialogue and I’m told it has a lot to do with Amazon eager to expand its apparel business — for sure.” Read more

 

U.S. housing starts fall 30.2% in April at CNBC. Read more

 

Target is extending its $2-an-hour coronavirus wage increase for store workers through July 4 at Business Insider. Read more

 

It Took a Pandemic, but 7-Eleven in Japan Is Letting Stores Take a Break at NY Times. “Allowing an owner to close shop for a few hours in the dead of night or during a national holiday might not seem like a big deal. But 7-Eleven, so omnipresent in Japan that it is considered part of the national infrastructure, believes that consistent service across all of the country’s 21,000 locations is crucial to the brand’s value.” Tiered subs.

 

JCPenney to permanently close 242 stores amid bankruptcy at NY Post. Read more

 

Target to debut designer dress collection this summer at Fox Business. “Target has launched “The Designer Dress Collection,” partnering with three fashion brands led by women: LoveShackFancy, Cushnie and Lisa Marie Fernandez for summer looks priced between $40 to $60.” Read more

 

Walmart says it will discontinue Jet at TechCrunch. Read more

 

Ex-Cabela’s & Sam’s exec Paul Stone named Hertz CEO at Business Insider. Read more

 

Tipsheet Extra

Alaskan man makes 14-hour boat trips to Costco to keep his small town fed

Walmart made a $99 tablet with Android 10 and USB-C

Angel Soft exec explains why TP supply couldn’t keep up with demand

How Fanatics’ All In Challenge became the wildest $50M celebrity charity contest ever

Ex-Amazon VP opens up about decision to quit in support of ‘whistleblowers’

Read Tipsheet Extra Stories

 

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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

 

Website: eyeonretail.net