Tipsheet: Big Lots +31.1% | Back-to-School Forever | Ulta -26.7%

 

Big Lots Q2 comp sales +31.1% at The Street. “Our [comparable] increase was the best in the company’s history, and adjusted EPS was the most we’ve reported in a second quarter, and more than five times what we reported a year ago,” Bruce Thorn, president and CEO, said in a statement.” Read more

 

Gap’s decision to pivot and make face masks put $130 million in its registers at CNBC. “During the quarter ended Aug. 1, Gap’s total sales fell about 18% to $3.28 billion from $4 billion a year ago. Its online sales surged 95%.” Read more

 

Ulta Q2 comp sales down 26.7% Press release

 

Lord & Taylor will close all stores – steep liquidation sales started yesterday at Fast Company. “The company filed for Chapter 11 bankruptcy on August 2, initially planning to keep 19 of its 38 locations open, but cutting that number to 14 just a few weeks later. Now, it’s deciding that everything must go.” Read more

 

John Hancock is the first life insurer to integrate with Amazon Halo Press release

 

**A message from Readywise, the leader in emergency food supplies – Consumers are looking for emergency food supplies – are you offering the selection they want? Up to 25-year shelf life. High quality and great taste. Website | Catalog | Request a sample: info@eyeonretail.net

 

US consumer spending rose a moderate 1.9% in July at AP. Read more

 

3 reasons why Walmart is chasing TikTok at Fortune. Read more

 

Forget back-to-school bargains: Retailers waiting it out as parents postpone purchases at CNBC. “We’ll extend the season and extend our assortment because we know at some point in time, those students will need backpacks and uniforms. They’re going to need school supplies,” Target CEO Brian Cornell said.” Read more

 

Beyond Meat launches DTC site Press release

 

Amazon orders 1,800 electric vans from Mercedes-Benz for its European deliveries at Business Insider. “Jeff Bezos said the vans are part of the company’s “journey to build the most sustainable transportation fleet in the world.” Read more

 

Cosmetics maker Coty posted a bigger-than-expected quarterly loss and a 56% slump in sales at NY Post. “In a bid to become nimble, Coty is now planning to sell or shutter most of its factories and outsource more operations to deal with the fallout from the COVID-19 crisis, the Financial Times reported Thursday, quoting Coty Chairman Peter Harf.” Read more

 

Amazon protesters outside Jeff Bezos’ home construct guillotine at Fox Business. “Footage posted to Twitter by the Washington Examiner on Thursday shows people who are allegedly Amazon protestors, setting up a makeshift guillotine outside of Bezos’ home in Washington. The protestors are said to have called for a $30 minimum wage.” Pic/Read more

 

Tipsheet Extra

Retailers respond to consumer interest in black-owned businesses

The backyard office shed is having a moment

Harry Potter comes to Build-A-Bear Workshop

Instacart faces lawsuit from DC attorney general

Cineworld CEO says it had many ‘sold-out’ shows as movie theaters reopened

Read Tipsheet Extra Stories

 

**

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: F. Dollar +11.6% | Target #4 Intimate | Tiffany -24%

 

Amazon to open first of its new chain of Fresh grocery stores in Los Angeles’ Woodland Hills neighborhood at CNBC. “…will open its doors this week to customers invited from the local area, the company announced Thursday. The store will open to the broader public in the coming weeks.” Read more

 

…Amazon’s latest grocery store concept opens, with high-tech carts at Reuters. “This lets shoppers filling up to two grocery bags forgo the store’s cashiers via technology systems that discern what they put in the cart and bill a credit card on file once customers leave through a designated lane. The shop also has a counter for picking up and returning web orders, and stations for questioning Amazon’s voice-controlled assistant Alexa about the store.” Read more

 

…Inside Amazon’s New Fresh Grocery Banner at Progressive Grocer. “The store is not 100% checkout-less, another nod from Amazon as it looks to give its customers as many choices as possible. The Fresh concept offers traditional checkout carts, traditional checkout lanes and traditional point of sale (using cash, credit, SNAP etc).” Read more/Video

 

Williams-Sonoma Q2 net comp growth +10.5% Press release

 

Dollar Tree Enterprise Q2 comp sales +7.2% / By segment: Family Dollar +11.6%, Dollar Tree +3.1% Press release

 

Tiffany Q2 comp sales down 24% Press release

 

Express Q2 comp sales down 24% Press release

 

Burlington Stores Q2 total sales down 39% Press release

 

**A message from Gusto kitchenware – Colorful kitchenware for young food enthusiasts. High-end quality at an affordable price. From the #1 cookware brand in Mexico. Program overview | Retailers request samples: info@eyeonretail.net

 

Abercrombie & Fitch Q2 net sales down 17% Press release

 

Costco’s Frank Padilla talks organics at virtual event at The Packer. “Frank Padilla, vice president and general merchandiser manager for produce and meat for Costco…(said) organic items that performed particularly well included ginger root and long English cucumbers…” Read more

 

Dick’s Sporting Goods Q2 Earnings Call Transcript at Seeking Alpha

 

Lowe’s is teaming up with Jason Wu, Rebecca Minkoff and Christian Siriano to translate high fashion to home “The intersection between home and style has never been more prevalent than it has this year, and partnering with some of the world’s most modern and visionary leaders of fashion to demonstrate how everyone can bring fashion “home” is very exciting to us,” said Marisa Thalberg, Lowe’s Chief Brand and Marketing Officer.” Press release

 

Target names former EVP of CVS Health and president of CVS Caremark to Board of Directors Read more

 

Saks owner Hudson’s Bay drops plans to raise $900M in debt at NY Post. “…after prospective investors requested a higher interest rate than the company was willing to pay, people familiar with the matter said Wednesday.” Read more

 

U.S. Top 10 Most Intimate Brands: Amazon #1, Walmart #2, Costco #3, Target #4Press release

 

With Stimulus Checks on Hold, Americans Are Spending Less at the Grocery Store at Wall Street Journal. “People perceive they’re spending more money on food, despite eating out less,” said Walmart U.S. Chief Executive John Furner on a conference call last week. “So we’ll be thoughtful about the way we plan the rest of the year and react to changes in the trends we see from our shoppers.” WSJ subs.

 

Hibbett Sports Announces New Field Leadership Team Press release

 

Tipsheet Extra Stories

Ikea and Lego built the storage boxes of your dreams

Murder suspect’s suicide sparks looting, unrest in Minneapolis

Sea cucumbers are helping Costco clean up in China

Amazon unveils Halo to battle Apple Watch and Fitbit

75-year-old punched at Publix over social distancing dispute

Read Tipsheet Extra Stories

 

**

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: B.Buy Growth Crimped | CVS Ad Network | H.Depot #4 Radio

 

Best Buy Q2 enterprise comp sales +5.8% / Domestic online comp +242% Press release

 

…Best Buy’s Growth Crimped by Product Shortages at Wall Street Journal “The stronger-than-anticipated demand as we opened our stores for shopping resulted in more constrained product availability than we expected,” Chief Executive Corie Barry said…Best Buy shares fell 5% in early Tuesday trading. The shares had doubled from their March lows and were trading near all-time highs heading into the earnings release.” WSJ subs.

 

S&P CoreLogic Case-Shiller: US home prices rise 3.5% in June at AP. “…down from May’s 3.6% increase and slightly below economists’ expectations. Phoenix led the way with a 9% increase followed by Seattle (up 6.5%) and Tampa (up 5.9%). But prices rose at all 19 cities measured in June.” Read more

 

LVMH, Tiffany delay $16.2B deal deadline to 11/24/20 at MarketWatch. Read more

 

Retail Landlords Offer Pandemic Clauses in New Leases at Wall Street Journal. “Because many insurance policies didn’t cover pandemic-related losses, landlords have offered various concessions to attract and retain tenants, including allowing them to defer part of their rent if another shutdown is ordered.” WSJ subs.

 

Amazon is rolling out a new AR shopping tool, Room Decorator, that will allow you to see furniture and other home decor in their own space at TechCrunch. “While the retailer had experimented with AR tools in the past, what makes Room Decorator different is that it’s capable of virtually adding multiple products to the room at the same time.” Read more

 

**A message from Comfy Sacks bean bag chairs – Comfy Sacks premium bean bag sales have spiked as consumers look for comfort at home. Filled with superior quality furniture grade foam. Offer your consumer something truly unique & comfortable. Booklet | Video | Website | Request sample bag: info@eyeonretail.net

 

CVS is readying the launch of a new ad network at Digiday. “They’re saying they can do it all,” said a media buyer with knowledge of the CVS pitch, adding that it goes beyond the usual media placements. “They’re layering on creative services, saying they can help you with creative and strategy. They’ve even got a full dynamic creative offering. That’s not something you typically see out the gate. [When you see that] it’s usually a more sophisticated offering.” Read more

 

Amazon Go’s cashierless tech may come to Whole Foods as soon as next year at The Verge. “The New York Post’s source claims the rollout of the new technology into Whole Foods is one of two final projects that Jeff Wilke, CEO of Amazon’s worldwide consumer division, is focusing on before he retires early next year.” Read more

 

Walmart Hosts First-Ever Free Online Wellness Event with Resources on Nutritional, Heart and Mental Health Press release

 

Bezos’ AmazonSmile facing claims of excluding conservative nonprofits at Fox Business. “Amazon uses the controversial Southern Poverty Law Center to decide who gets to participate. The center has routinely put conservative groups on its “hate watch list” and defines some conservative nonprofits like the Alliance Defending Freedom and Family Research Council as “hate groups.” Read more

 

Tiffany & Co. Unveils Plans for a Contemporary Glass Addition Atop Its Classic Fifth Avenue Flagship Store Press release

 

Home Depot was the #4 radio advertiser last week, AutoZone #5 at Radio Ink. Read more

 

America’s Best Employers by State 2020 at Forbes. Read more

 

Tipsheet Extra

Tech company says it has established “the nation’s first dense ‘face-pay’ network”

Kind is the first food brand to commit to buying ‘bee-friendly’ almonds

Phoenix to pay $475K to family after officer pointed a gun at them in shoplifting case

Sotheby’s changes beat with first hip-hop auction

Toys R Us partners with Amazon on its relaunched website

Read Tipsheet Extra Stories

 

**

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: Amazon +3 ‘S-Team’ | 55% Sick of Cooking | Tesco +16K

 

Amazon teams with City University of Seattle to train military employees for new roles at Seattle Times. “Amazon military veteran employees working in the company’s fulfillment centers, for example, can take the online courses — which have no fixed start times in order to fit around a full-time work schedule — to prepare them for current and future needs in the company…” Read more

 

Hedge fund to close after ‘grave mistake’ in Neiman Marcus bankruptcy at NY Post. “Distressed investment firm Marble Ridge Capital plans to wind down its funds after a government report called into question the actions of its managing partner, Dan Kamensky, during the Neiman Marcus Group bankruptcy, the firm said.” Read more

 

As 2 storms menace Gulf Coast, residents brace for deluge at AP. Read more

 

55% say cooking during COVID-19 has left them feeling fatigued at Fox News. “Nearly half of respondents, or 46%, would prefer to cook a meal with less prep work, and 43% would like to spend less time planning their meals out.” Read more

 

Big-Box Stores, Worried About Amazon, Were Ready for Coronavirus at Wall Street Journal. “Walmart, Amazon, Target, Home Depot, Lowe’s and Costco accounted for 29.1% of all U.S. retail sales in the second quarter, according to Craig Johnson, president of consulting firm Customer Growth Partners, up from 25.6% in the same period a year ago.” WSJ subs.

 

**A message from Readywise, the leader in emergency food supplies – Consumers are looking for emergency food supplies – are you offering the selection they want? Up to 25-year shelf life. High quality and great taste. Website | Catalog | Request a sample: info@eyeonretail.net

 

Here are the three Amazon execs who just joined Jeff Bezos’ elite ‘S-team’ leadership suite at GeekWire. “Joining the S-team are Dave Treadwell, Alicia Boler Davis, and John Felton. All three will keep their titles, but their status inside the company will be elevated amid the shifts by Clark and Wilke.” Read more

 

…Jeff Bezos adds first Black exec to his elite inner circle at Fast Company. “Alicia Boler Davis, Amazon’s vice president of global customer fulfillment, has become the fourth female and first Black member to join the gilded ranks of the company’s senior team, aka the S-team. Davis, who joined Amazon in 2019 after serving as GM’s head of global manufacturing…” Read more

 

Tesco to offer free grocery delivery in Amazon challenge: Telegraph at Reuters. Read more

 

…Tesco to create 16,000 more permanent jobs in online boom at Reuters. “Tesco said the roles will include 10,000 pickers to assemble customer orders and 3,000 drivers to deliver them, along with a variety of other roles in stores and distribution centers.” Read more

 

Tipsheet Extra Stories

This grocery startup is placing fully stocked fridges of free food around the Bay Area

Walmart files trademark application to protect movie venture

The best credit cards for grocery shopping of 2020

Beloved grocery store employee gets 99th birthday surprise

2020’s top 25 American film schools, ranked

Read Tipsheet Extra Stories

 

**

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: No Black Friday? | 2 Storms Threaten | Wilke to Retire

 

Amazon’s consumer boss Jeff Wilke, a top lieutenant to Bezos, will step down in 2021 at CNBC. “Dave Clark, who is senior vice president of retail operations, will succeed Wilke after he retires, Amazon said.” Read more

 

U.S. existing home sales shoot to near 14-year high in July at Reuters. “The National Association of Realtors said on Friday existing home sales rose 24.7% to a seasonally adjusted annual rate of 5.86 million units last month.” Read more

 

Foot Locker Q2 comp sales +18.6% Press release

 

Two tropical storms could threaten the Gulf Coast within the same 24-hour period next week at The Weather Channel. “For the first time since the Great Depression, it’s possible that two tropical systems could make landfall in the mainland United States at virtually the same time…Tropical Storm Laura…may head toward Florida and the Gulf of Mexico early next week, possibly as a hurricane…Tropical Depression Fourteen…could affect parts of the U.S. Gulf Coast next week as a hurricane.” Read more

 

Fearing shipping crunch, retailers set earliest-ever holiday sale plans at Reuters. “Target, Best Buy and Kohl’s have moved winter holiday promotions up to as early as October…“It’ll be interesting to see if stores even have Black Friday sales or are open on Black Friday,” said Randy Hare, portfolio manager at Huntington Private Bank.” Read more

 

Struggling retailers rush to file for bankruptcy as fears of a second wave of coronavirus linger at CNBC. “The pipeline is as full as it has been all year,” said Bradley Snyder, an executive managing director at the liquidation firm Tiger Capital Group, referring to the potential for more retail bankruptcies…“The challenge is making sure we can actually close stores in a window that is open,” he said.” Read more

 

Brothers defrauded Amazon out of $19M through bogus invoices: DOJ at Fox Business. “In one instance around 2018, they allegedly agreed to an order for a single case of 12 canisters of disinfectant spray, costing $94.03 per pack. Instead, they successfully invoiced “for 7,000 individual toothbrushes” at $94.03 each, costing the company $658,210, the indictment alleges.” Read more

 

Amazon envisions aerial drones pulling skiers and surfers across water, new patent filing reveals at GeekWire. “It includes features that would allow a user to summon the drone to their location. The drone would also be able to detect and avoid obstacles in the travel path of a user and/or tow line.” Read more/Image

 

JOANN Fabrics pivots e-commerce strategy to meet new customer demand at Fox Business. “When JOANN Fabrics, the nation’s leading craft and fabric retailer, and its chain of around 865 stores had a 300-400% increase in demand for mask-making supplies, the company revamped its e-commerce system to keep up with holiday volume orders and prepare for a potential new generation of shoppers…” Read more

 

Tesla now worth more than Walmart at Markets Insider. Read more

 

Uber launches prescription delivery service in Seattle, Dallas at NY Post. “Uber plans to expand the service in “the coming months” now that it has integrated with Nimble, which said it has seen a spike in demand from pharmacies and consumers alike over the last several months.” Read more

 

Michaels Appoints Michael Diamond Chief Financial Officer “Most recently, Diamond served as Chief Financial Officer for Pizza Hut U.S. market.” Press release

 

Ross Stores Q2 comp sales for reopened stores down 12% Press release

 

Retailers See E-Commerce Investments Pay Off Big as Coronavirus Keeps Shoppers Home at Wall Street Journal. “To handle the influx of online orders, (Home Depot) in May converted one of its warehouses in the Chicago area into a direct-fulfillment center to ship packages to customers’ homes. The merchandising, supply chain and technology teams moved new inventory into the facility to fill online orders and converted to new IT systems to manage the warehouse. The project was completed in about three weeks, Mr. Siddiqui said.” WSJ subs.

 

Rolling Stones bucking retail trend – opening brick and mortar store at Showbiz 411. “Two things come to mind when you hear the Rolling Stones are opening a boutique in Carnaby Street, London: is it 1966? Do they know they realize no one shops in brick and mortar stores? Also, there’s a pandemic?” Read more

 

Tipsheet Extra

The FCC has approved Amazon’s plan for its Kuiper satellite constellation

Armed man shot, killed by police inside Walmart in Rio Grande Valley

CPG recruiter talks impact of Walmart layoffs on NWA supplier community

Retail continues to charge back, this time in the U.K.

Man punches teen worker at Sesame Place because he didn’t want to wear a mask

Read Tipsheet Extra Stories

 

**

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: BJ’s +24.2% | DoorDash Grocery Deliv | Amazon Saturdays

 

BJ’s Wholesale Q2 comp sales (ex-gas) +24.2% Press release

 

…BJ’s Wholesale Club profit doubles as members load up during coronavirus at Fox Business. “…earned $106.6 million, or an adjusted 77 cents per share, as revenue rose 18% year-over-year to $3.95 billion. The results outpaced the adjusted earnings of 60 cents a share and revenue of $3.74 billion that Wall Street analysts surveyed by Refinitiv were expecting.” Read more

 

Amazon tells third-party Prime sellers to start working weekends at NY Post. “Amazon told third-party sellers participating in its Seller Fulfilled Prime program — which allows them to advertise their products under Amazon’s popular Prime banner — they will be required to ship and receive packages on Saturdays…The new policy will go into effect in February.” Read more

 

Alibaba Says Business Is Back to Normal, Quarterly Profits Hit $5.6 Billion at Variety. “The company revealed a 34% surge in revenues and net profits between April and June, the first quarter of its new financial year, climbed by 28% to $5.59 billion.” Read more

 

DoorDash launches grocery delivery on its app at Reuters. “Grocery delivery on DoorDash’s app will begin with Meijer Inc, among others, and expand to more regional and specialty chains in coming weeks…DoorDash grocery orders are fulfilled inside of supermarkets by employees of Swiss staffing agency Adecco Group AG, who then put orders on a pick-up shelf for DoorDash drivers to deliver.” Read more

 

Lowe’s Tool Rental will begin a multi-year national rollout with its first space opening in Charlotte, N.C. on Aug. 20 Press release

 

Lord & Taylor is closing two dozen stores at CNBC. Map of closing locations

 

**A message from Readywise, the leader in emergency food supplies – Consumers want emergency food supplies – are you offering the selection they want? Readywise meals are easy to prepare – just add water. Up to 25-year shelf life. High quality and great taste. Website | Catalog | Sample: info@eyeonretail.net

 

Ulta Beauty to Close All Stores on Thanksgiving Day 2020 Press release

 

Target Q2 comp sales +24.3% Press release | Earnings call transcript

 

…Target CEO credits canceled vacations, not stimulus checks, for blowout quarter at CNBC. “In the pandemic, we’re not going to restaurants, we’re not going to movies,” (Cornell) said. “Those traditional summer trips have been canceled. We’re not on planes. We’re not spending dollars on lodging, so many of those dollars have been redirected into retail.” Read more/Video

 

Lowe’s US Q2 comp sales +35.1% Press release | Earnings call transcript

 

Case Study: ShopRite’s Paperbird Soars at MediaPost. “Laura Kind, vice president of brand strategy at Wakefern, ran through a case study at our Brand Insider Summit CPG on Wednesday that took attendees from beginning to end…” Read more

 

Ace Hardware Q2 comp sales +35.3% Press release

 

Shoppers who arrive without a face covering at a Kings Food Market are provided with the CEO’s personal cellphone number at Progressive Grocer. “Spires told “Today” that she’s already convinced at least one customer to wear a mask during their next visit despite fundamentally disagreeing on the policy. Other than that, she claims the idea has received praise from the majority of her customers.” Read more

 

Tipsheet Extra

Univ. of Illinois Covid saliva test could be game-changer

Fund launched for woman struck by car that crashed into supermarket

Radio Flyer teams up with Tesla to launch a tyke-sized Tesla

No fear of coronavirus at drive-through haunted house

Instacart now providing shoppers Doctors on demand

Pandemic pushes expansion of ‘hospital-at-home’ treatment

Read Tipsheet Extra Stories

 

**

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: WM US +9.3% | THD +23.4% | Sam’s +13.3%

 

Walmart U.S. Q2 comp sales +9.3% / Ecom +97% / Sam’s Club comp sales +13.3% / Int’l net sales -6.8% Press release

 

…Walmart beats profit estimates as online sales hit record on pandemic boost at Reuters. “Gross margins rose to 24.9% in the quarter edging past expectations of 24.24%…Analysts had estimated a (U.S. comp sales) gain of 5.73% (vs. 9.3% actual), according to IBES data from Refinitiv.” Read more

 

Home Depot Q2 comp sales +23.4% Press release

 

…Path to Home Depot becomes familiar for millions in pandemic at AP. “Overall revenue hit $38.05 billion, far exceeding the $34.94 billion Wall Street was expecting…The overall comparable-store sales were almost twice the 12.2% increase that industry analysts had projected.” Read more

 

…Home Depot sounds cautious tone on conference call “Home Depot execs sounded some caution during today’s earnings call, noting that Q2 trends can’t be extrapolated for the balance of the year, although for the first two weeks of Q3 the comparable sales trend held.” Seeking Alpha

 

Kohl’s Q2 net sales down 22.9% Press release

 

…Kohl’s paints grim picture of holiday shopping as pandemic hits sales, shares tank at CNBC. “(CEO Gass) said the company is planning “conservatively” for the remainder of 2020. Management added the back-to-school season at Kohl’s has started “soft,” with many parents still unclear about how and when their children will be returning to classrooms again.” Read more

 

Advance Auto Parts Q2 comp sales +7.5% Press release

 

**A message from Comfy Sacks bean bag chairs – Comfy Sacks premium bean bag sales have spiked as consumers look for comfort at home. Filled with superior quality furniture grade foam. Offer your consumer something truly unique & comfortable. Booklet | Video | Website | Request sample bag: info@eyeonretail.net

 

US home construction surges 22.6%, third monthly increase at AP. “The big gains came from the construction of apartments and condominiums, which soared 56.7%. But single-family home construction ticked up, too, by 8.2%. Construction rose all over — 35.3% in the Northeast, 33.2% in the South, 5.8% in both the Midwest and the West.” Read more

 

Amazon Bets on Office-Based Work With Expansion in Major Cities at Wall Street Journal. “Amazon is preparing to add 3,500 corporate jobs across hubs in New York, Phoenix, San Diego, Denver, Detroit and Dallas, the company said Tuesday. The plans include 2,000 jobs at the historic building in Manhattan that once housed the Lord & Taylor flagship department store.” WSJ subs.

 

Shoe Seller Payless Attempts a Comeback at Wall Street Journal. “The company, which emerged from chapter 11 bankruptcy protection in January and is now called Payless Worldwide, is relaunching its website on Tuesday and plans to open as many as 400 stores in North America over the next five years, with the first location slated for Miami this fall.” WSJ subs.

 

Up-for-sale British grocer Asda targets online expansion at Reuters. “Asda, the British supermarket arm of the world’s biggest retailer Walmart, said it would expand weekly delivery capacity to one million slots next year to meet the demand for online grocery shopping spurred by the COVID-19 crisis.” Read more

 

Work-from-home boom is a bust for big office furniture makers at Reuters. “Steelcase, the largest U.S. office furniture maker, and Herman Miller, the No. 2 producer, both reported steep losses and double-digit sales declines in the three months ending in May. For Steelcase, sales of about $483 million were the lowest since its initial public offering in 1998.” Read more

 

Kroger releases its 2020 Environmental, Social and Governance Report

 

Court tosses Tiffany’s $21M judgment against Costco over fake ‘Tiffany’ rings at NY Post. “In a 3-0 decision, the 2nd US Circuit Court of Appeals in Manhattan said it agreed with Costco that its use of the word “Tiffany” was unlikely to confuse customers, and that Costco was entitled in good faith to describe the style of its rings even if confusion were likely.” Read more

 

Tipsheet Extra

Ex–Glossier employees describe a company that failed to support Black workers

Variety: Marketers, Media Outlets Feud Over Billions of Dollars in Advertising

Ahold selects winners of its inaugural Cleaning Bot Challenge

The world’s last Blockbuster is now open for slumber parties

Coin shortage hits retailers, laundromats, tooth fairy

Read Tipsheet Extra Stories

 

**

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: H.Depot Covid Close-Up | Builder Confidence Record | Trump Blames Amazon

 

Amazon investigated by German watchdog for abusing dominance during pandemic at CNBC. “A spokesperson for the regulator told CNBC that it is “not up to a private platform to be a price regulator or the price police.” Amazon is using “unknown mechanisms” to regulate sellers on its platform, they added.” Read more

 

China’s JD.com posts upbeat results as online orders surge at Reuters. “The company’s net product revenue, which includes online retail sales, rose 33.5% to 178.19 billion yuan in the second quarter.” Read more

 

Home Depot Braced for Covid Pain—Then Americans Remodeled at The Wall Street Journal. “All of the historical benchmarks that we’ve used to think about the business and what the growth in the business would be, like GDP and housing…none of that has a correlation anymore,” Mr. Menear, 63, said in a July interview…Analysts predict record growth when both companies this week report results for May through July. Comparable sales are expected to climb 10.9% at Home Depot and 14.3% at Lowe’s, according to average estimates collected by FactSet.” WSJ subs.

 

Homebuilder sentiment jumps to record high, but soaring lumber prices could ‘dampen momentum’ at CNBC. “Builder confidence in the newly built, single-family home market jumped six points to 78 in August on the National Association of Home Builders/Wells Fargo Housing Market Index…Builder sentiment plunged to 30 in April, when the coronavirus pandemic shut down the U.S. economy, but it recovered quickly as consumers suddenly sought more space in less urban areas.” Read more

 

Walgreens, CVS pharmacists to check for coronavirus symptoms, wear face shields during flu shots at USA Today. “CVS expects to administer more than double the number of flu shots it administers during a typical season…Walgreens is expecting an increase in flu demand ranging from 30% to 50%…” Read more

 

**A message from Comfy Sacks bean bag chairs – Filled with superior grade high-density foam for maximum comfort. Long-lasting and resists permanent compression. 5-year unconditional warranty. Booklet | Video | Website  Sample bag: info@eyeonretail.net

 

Walmart increases store hours after cutting them in March at USA Today. “By August 17, more than 4,000 of our 4,700 Walmart stores will expand their closing time from 8:30 p.m. to 10 p.m., providing customers with more options to shop for the food, medicine and supplies they need.” Read more

 

Seattle business leaders ask city to reconsider tax after Amazon polls employees about relocation at GeekWire. “The City Council in July approved the tax on the highest salaries at companies in the city with annual payroll expenses of $7 million or higher, generating an estimated $200 million yearly to fund relief for families negatively impacted by the COVID-19 pandemic and alleviate Seattle’s homelessness crisis.” Read more

 

Rent the Runway shutters all brick-and-mortar stores at Fast Company. Read more

 

Brad Porter, longtime Amazon Robotics leader and distinguished engineer, reportedly resigns at GeekWire. “He was in the news this year when he defended Amazon from criticism from a former vice president and distinguished engineer, Tim Bray, over the company’s firing of employee activists. Business Insider reported that Porter will pursue a new opportunity, citing an email sent to staff by Dave Clark, Amazon’s SVP of worldwide operations.” Read more

 

Ahold doubles down on e-commerce amid pandemic at Fox Business. “Covid was kind of a wake-up call for us,” said Natalie Knight, who has been the company’s chief financial officer since April. Ahold decided to accelerate the build out of its online channels and to interlink e-commerce with the brick-and-mortar business because of the pandemic, Ms. Knight said.” Read more

 

Trump blames Amazon for post office problems at CNBC. “Amazon and other companies like it, they come and they drop all of their mail into a post office,” Trump said in an interview with “Fox & Friends.” “They drop packages into the post office by the thousands and then they say, ‘Here, you deliver them.’ We lose $3 and $4 a package on average. We lose massive amounts of money.” Read more

 

Tipsheet Extra

COVID-19 outbreak at Quebec City Costco sparks rush on testing center

New York: Zappos replacing American Eagle in Union Square

US, UK play chicken over chlorinated chicken

Domino’s to hire more than 20,000 workers in US

Nike to feature Andre Agassi-inspired line for upcoming US Open

Apple expands its independent repair shop program to Mac computers

Read Tipsheet Extra Stories

 

**

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