Tipsheet: Costco +7.8% | B.Lots +10.3% | UPS +$31.45 to Ship Desk

 

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

Read Tipsheet Extra Stories

 

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Tipsheet: D.Gen +21.7% | Target Looted | D.Tree +7%

 

Dollar General Q1 comp sales +21.7% (vs. +7.9% estimate) “Net sales increased 27.6%…Gross profit as a percentage of net sales was 30.7% in the first quarter of 2020 compared to 30.2% in the first quarter of 2019…Operating profit for the first quarter of 2020 increased 69.2%.” Press release

 

…So far in Q2, Dollar General comps are up 22%

 

Dollar Tree Q1 Enterprise comp sales +7.0%. By segment: Family Dollar +15.5% / Dollar Tree -0.9% “Gross profit increased 3.9% to $1.79 billion in the quarter compared to the prior year’s first quarter. As a percentage of net sales, gross margin was 28.5% compared to a gross margin of 29.7% in the prior year.” Press release

 

Abercrombie & Fitch sales fall 34%, with stores forced shut during coronavirus pandemic; shares fall at CNBC. Read more

 

Amazon and critics wage PR war in annual meeting with starkly opposing portraits of tech giant at GeekWire. “Bezos and other Amazon executives were not visible on video during the meeting, which instead showed their pictures in slides during their remarks.” Read more

 

Amazon to offer permanent roles to 70% of 175,000 new U.S. hires at CNBC. Read more

 

Walmart Presents at Bernstein’s 36th Annual Strategic Decisions Conference at Seeking Alpha. Transcript

 

**A message from Gusto kitchenware. Created for young enthusiasts looking for quality, color and affordability. From the #1 cookware brand in Mexico. Program details | Retailers request samples: info@eyeonretail.net

 

Amazon grocery stores coming to Schaumburg and Naperville, Illinois at Crain’s Chicago Business. Read more

 

Home Depot Presents at RBC Global Consumer & Retail Virtual Conference at Seeking Alpha. Transcript

 

Southeastern Grocers to convert four Lucky’s Market locations and four Earth Fare stores to Winn-Dixie in Florida Press release

 

Wegmans to take a more cautious approach to grand-opening festivities – will no longer reveal a specific opening date for each of its new stores at Progressive Grocer. Read more

 

UK retailer Debenhams cuts ‘hundreds’ of head office staff – sources at Reuters. Read more

 

Sam’s Club started construction of its flagship outlet in China on Thursday at Xinhua. “It will be the largest independent building operated by Sam’s Club in China and its third store in Shanghai. With a construction area of 70,000 square meters, the outlet is expected to open in 2021.” Read more

 

NRF CEO Matthew Shay will speak with Chris Baldwin, Executive Chairman of BJ’s Wholesale Club on Monday, June 1, at 1 p.m. ET. Register

 

Target CEO buys downtown condo for $1 million “Target Corp. CEO Brian Cornell will be moving from the Kenwood neighborhood to downtown, in a condo just blocks from the retailer’s headquarters.” Minneapolis/St.Paul Business Journal Subs.

 

Amazon to sponsor virtual concert for COVID-19 relief featuring Pearl Jam, Macklemore and others at GeekWire. “The June 10 concert will be streamed on Amazon Music’s Twitch channel and through the All in Wa website beginning at 7 p.m. PST. A recording of the concert will be also be available on Prime Video after the live stream.” Read more

 

Minneapolis Target descends into chaos as looters smash windows, destroy shelves, and haul away everything inside at Business Insider. Videos/Read more

 

Tipsheet Extra

Kroger lands Amazon exec to bolster ad offering

How furniture showrooms are skirting New York lockdown laws

Fast Company Queer 50 2020

Amazon gave TV stations coronavirus propaganda, and some aired it

Wheelchair-riding woman beaten outside Minneapolis Target store

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Tipsheet: DOJ Probes Beef Prices | T.Supply Eyes +25% | Lowe’s Still #1 Radio

 

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

Read Tipsheet Extra Stories

 

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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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Tipsheet: Wgreen Pres. Exit | Bentonville #5 Growth | WM Quick Delivery

 

Target saw strength in April ‘across our entire portfolio,’ CEO Brian Cornell says at CNBC. “While business was “normal” in February, sales growth accelerated by 16.5% in April, Cornell explained. Electronic sales were up 45%, food and beverage climbed 20%, household essentials also rose 20% and kitchen sales improved by 25% in the month of April, he said.” Read more/Video

 

Alibaba revenue, profit beat as online sales surge during lockdown at Reuters. “Sales from the company’s core commerce business rose nearly 19% to 93.87 billion yuan ($13.16 billion) in the fourth quarter and revenue at its cloud computing business surged about 58%.” Read more

 

Foot Locker reports Q1 loss of $98 million at Fox Business. “Sales fell 43.4% to $1.12 billion.” Read more

 

Canadian retail sales plunge record 10% in March, led by car sales at Reuters. “Sales excluding autos declined only 0.4% in March, which was better than the expected 5.0% drop analysts had predicted.” Read more

 

Store Brands Eye a Bigger Share of the Dinner Plate at Wall Street Journal. “American consumers have traditionally shown more loyalty to big food brands than their British counterparts, but there are signs of change. During the first quarter of the year, sales of store brands in U.S. retail outlets increased by 14.6% compared with the same period last year…” WSJ subs.

 

Ross Stores Q1 total sales down 53% Press release

 

Inside Amazon’s new 8-floor family homeless shelter attached to its Seattle HQ at GeekWire. “The Mary’s Place Family Center in The Regrade is an 8-floor, 63,000-square-foot facility with the capacity to serve 200 people per night and more than 1,000 family members per year.” Pics/Read more

 

**A message from Comfy Sacks bean bag chairs – Shredded foam is long lasting, soft, and resists permanent compression. High-growth product on-trend with stay at home comfort. Made in USA. Request a sample bag @ info@eyeonretail.net  Booklet | Video | Website

 

Does Walmart’s Express Delivery Deliver on Its 2-Hour Claim? at Field Agent. “15 of 18 deliveries took no longer than one hour to make the trip from store shelves to customers’ doorsteps. In fact, seven orders made it home in less than 45 minutes.” Read more/Video

 

Walgreens president leaves to head company behind South Beach Diet Press release

 

Why Best Buy’s CEO thinks the appointment-only shopping strategy was the best approach at CNBC. “Best Buy said it retained 81% of last year’s sales for the last six weeks of the quarter — but the decision (to close stores) potentially left sales on the table as other essential retailers saw customers continue to flock to stores. Barry defended the decision to close stores Thursday. “I absolutely believe the decision we made is the right one,” she said.” Read more

 

Eighth Amazon warehouse worker dies of coronavirus at The Hill. Read more

 

Schnucks’ New Natural Format to Fill Lucky’s Void at Progressive Grocer. “EatWell, A Natural Food Store by Schnucks, will debut in early summer 2020. The first location is in a former Lucky’s Market store in Columbia, Missouri, which Schnucks acquired in an auction earlier this year.” Read more

 

Bentonville ranked 5th fastest-growing U.S. city at Talk Business. Read more

 

Pandemic highlights big box stores’ ability to pivot at AP. “Late last year, Best Buy began testing curbside pickup at select stores as a way to respond to customer needs. But that was then. The pandemic accelerated the company’s plans and what was supposed to take months instead took just 48 hours…” Read more

 

Jeff Bezos joins $76M round for secretive biotech startup led by Isilon co-founder, Stanford scientist at GeekWire. Read more

 

Video captures wild paint fight at Home Depot store at NY Post. “Crazy video captured four men outside a Home Depot in Tampa, Florida, on Wednesday, nailing each other with blows and throwing open paint cans at each other…A large man in a blue T-shirt and paint-covered jeans is seen flinging a can at another man near a red pickup truck, as an accomplice in a white shirt swings a garden hoe.” Video/Read more

 

Tipsheet Extra

100 Most-Watched TV Shows of 2019-20

Top 10 most intimate CPG brands

Walmart, Topco, Pepsi execs join GS1 US Board of Governors

Apple TV Plus is still looking for its big win

Crayola launches 24 skin tone crayons for inclusivity

Read Tipsheet Extra Stories

 

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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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Tipsheet: Prime Day Sep. | BJ’s +27% | Lowe’s DIY Edge | Cornell @ CNBC 6P

 

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

 

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Tipsheet: Lowe’s #1 Radio | WM CEO @ CNBC | Target Digital +141%

 

Target Q1 comp sales +10.8% (store comp sales +0.9% / digital +141%) Press release

 

…Reuters: Target’s coronavirus-led online sales surge comes at heavy costs “Cornell said he expects demand for non-staple items like beauty products, home goods and clothes to continue into the current quarter.” Read more

 

…Fox Business: Target’s profit sinks 64% as costs soar amid pandemic Read more

 

Lowe’s Q1 U.S. comp sales +12.3% Press release

 

…Lowes jumps to number one in radio spots last week at Radio Ink. “After logging in a 10th place finish on the Media Monitors chart two weeks ago, Lowes aired nearly 70,000 commercials last week to take the top spot. Progressive Insurance dropped into second (66,718), followed by The U.S. Census Bureau (50,919), Babbel (49,771) and GEICO (38,747).” Read more

 

Facebook & Instagram roll out Shops, turning business profiles into storefronts at TechCrunch. Read more

 

Kohl’s CEO says this is the ‘low point’ of 2020 at CNBC. “Our hope is that this is just an extraordinary event to flatten the curve,” Gass said…“We were in this nonessential category … it was mandated.” Read more

 

**A message from Gusto kitchenware – Colorful kitchenware features high quality and affordability. From the #1 cookware brand in Mexico. Program Ppoint | Retailers request samples: info@eyeonretail.net

 

Kroger overpaid some workers and demanded repayment, now says ‘nevermind’ by Alexander Coolidge at Cincinnati Enquirer. “Kroger officials wouldn’t say how many workers got extra pay or where they worked but said the employees in question were associates that were paid to stay home after falling ill with coronavirus symptoms, testing positive for COVID-19 virus or were otherwise quarantined.” Read more

 

Walmart CEO @ CNBC this morning: “We would (buy Jet) ‘do that all over again’…Brands are more “comfortable,” selling on Walmart now, (McMillon said)…Walmart has seen notable spikes in discretionary categories like adult bikes and craft supplies…” Read more/Video

 

Kohl’s removes Jennifer Lopez, seven other brands from stores at Reuters/NY Post. “Kohl’s, which has partnered with Jennifer Lopez for about a decade and began selling Juicy Couture in stores in 2014, will also cease selling Dana Buchman, Mudd, Candie’s, Rock And Republic and Elle.” Read more

 

Home Depot Q1 Earnings Call Transcript at Seeking Alpha. Transcript

 

CVS to return $43M in coronavirus stimulus payments at Fox Business. “As you know, CVS Health did not solicit these funds but received them as part of an automatic distribution by the Department of Health and Human Services,” CVS President & CEO Larry Merlo wrote.” Read more

 

Walmart Q1 Earnings Call Transcript at Seeking Alpha. Transcript

 

Publix continues domination of Florida’s retail marketplace at The Packer. “In South Florida…Publix commanded a market share of 60.2% in the first quarter of 2020, trailed by Walmart with a 12.54% share…In central Florida Publix’s market share was 52.9%, with Walmart’s at 18.9%…North Florida, had a 46.6% share – Walmart with a nearly 20% share.” Read more

 

Amazon is reopening its French warehouses after COVID-19 labor dispute at The Verge. Read more

 

Tipsheet Extra

Schnucks Presents Drive-Thru Graduations During COVID-19

Casey’s CEO Foresees Three Major Changes Post-Pandemic

Mariano’s Founder to Open New Grocery Chain

Instacart customers complain of mystery charges

Some grocery workers “scared to death” to return to work

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

 

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Tipsheet: Amazon Buy JCP? | WM +10% | Sam’s +12% | THD +7.5% | Kohl’s -43.5%

 

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’

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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

Tipsheet: Fortune 500: WM #1, Amazon #2 | Kroger Still Thankful | Lowe’s Helps ‘American Idol’

 

Moderna’s COVID-19 vaccine shows promise in early study, shares soar at Reuters. “Moderna said on Monday its experimental COVID-19 vaccine showed promise in a small early-stage trial, with the vaccine producing virus-neutralizing antibodies similar to that found in recovered patients, sending shares soaring 25%.” Read more

 

Homebuilder sentiment bounces back in May, after record plunge in April at CNBC. “Confidence in the market for single-family, newly built homes rose 7 points to 37 in May, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Anything above 50 is considered positive, so sentiment remains in negative territory.” Read more

 

U.S. mulls paying companies, tax breaks to pull supply chains from China at Reuters. “But given longstanding concerns about the government setting “industrial policy”, the notion of subsidizing industry directly is polarizing, even among Trump’s top advisers. Outright subsidies are a non-starter, said one of the two administrative sources. “Internally some are questioning why we should be providing funds to companies that have left in recent years.” Read more

 

Grubhub Isn’t Biting at Uber’s Takeover Offer Yet at The Street. “Grubhub CEO Matt Maloney spoke to Uber CEO Dara Khosrowshahi Sunday and indicated that Uber’s latest offer of 1.9 of its shares for each Grubhub share was too low, the Journal said. Khosrowshahi said he might be able to increase the offer to 1.925 Uber shares, but that is still well below the price Grubhub had been seeking, according to the Journal.” Read more | WSJ subs.

 

JC Penney has two months to get support for a plan for its future — or it will have to sell itself at CNBC. “According to documents filed with the court, if the company does not have the support of two-thirds of its bankruptcy lenders for a business plan by July 15, or binding commitments from third parties to finance those plans by August 15, it must “immediately cease pursuing the plan” and instead pursue a sale of its assets.” Read more

 

…Bankrupted JC Penney plans to spin its properties into separate real estate company at CNBC. Read more

 

2020 Fortune 500 (Walmart #1, Amazon #2, CVS #5, Costco #14, Walgreens #19) List

 

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Outdoor furniture sales grow as customers prepare for a summer at home at CNBC. “We’re also seeing small, little outdoor cafe sets that people can put on their balcony if they’re in a small New York apartment or something like that,” (Overstock) said. The company has been selling large numbers of higher-priced items like hot tubs and above-ground pools, as well as children’s items like trampolines and playground sets.” Read more

 

Apple details its plan to safely reopen retail stores – 25 more US stores will open this week at The Verge. Read more

 

Kroger backs down, will hand out more ‘Thank You’ pay to frontline supermarket workers by Alexander Coolidge at Cincinnati Enquirer/USA Today. “The one-time Thank You Pay, which will be $400 for qualified full-time associates and $200 for qualified part-time associates, will be paid out in two installments on May 30 and June 18, Kroger said.” Read more

 

Nadler calls Amazon letter to Judiciary Committee ‘unacceptable’ at The Verge. “Members of Congress have threatened to subpoena Bezos, an idea that Rep. David Cicilline (D-RI), chairman of the antitrust subcommittee repeated in a tweet on Friday.” Read more

 

Coronavirus Brings Beer Drinkers Back to Bud Light at Wall Street Journal. “Sales of mainstream beers like Bud Light and Coors Light in U.S. retail stores fell 3.1% in 2019. Since coronavirus pantry-loading began in early March, sales in that category have jumped 10.7% from the same period a year ago…” WSJ subs.

 

Lowe’s Helps ‘American Idol’ Finalists Build Stages at Home at Broadcast + Cable. “Disney has a long-standing relationship with Lowe’s, and we’re thrilled to have the brand join ‘American Idol’ at a historic moment, as the iconic show pulls off its first-ever remote finale,” said Andrew Messina, senior VP, Disney Advertising Sales.” Read more

 

Tipsheet Extra

Michael Jordan’s first Air Jordans sell for $560,000

HBR: We work harder when we know someone’s watching

Copper masks are the latest craze

EPA proposes extending deadline for selling wood heaters with high smoke output

Plant-based meat sales in the US are up 264 percent since March

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