Tipsheet: Costco +20.6% | Amazon ZenBooth | T.Joe’s #5 New Grads

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Costco Q3 comp sales (ex. gas & f/x) +20.6% / U.S. +18.2% / Canada +32.3% / Other Int’l +22.9% / Ecom +41.2% Press release

 

…Costco says free samples and food courts will fully return by June at USA Today. “About 170 of Costco’s approximately 550 locations will bring back full sampling by the first week of June, with the rest of locations returning to full sampling by the end of June.” Read more

 

…Costco earnings call transcript Seeking Alpha

 

Gap Q1 comp sales +28% vs. 2020 and +13% vs. 2019 Press release

 

…Gap CEO says the retailer’s ‘cool’ factor and Walmart’s scale make tie-up the perfect match at CNBC Mad Money. “For Gap, it marks the first time the company has ventured into a category outside of apparel as it looks for opportunities to license its globally recognized brand name…“What we’re doing is restructuring the business model of how we monetize the [Gap] brand,” she added.” Video/Read more

 

Ulta Beauty Q1 comp sales +65.9% vs. 2020 and +7.0% vs. 2019 Press release

 

Hibbett Sports Q1 comp sales +87.3% vs. fiscal ’21 and +51.4% vs. fiscal ’20 Press release

 

**A message from Comfy Sacks – Shredded foam bean bag sales continue their meteoric sales growth! Grab your share of this high growth category and add some “wow” and high dollar ring to your assortment. Easy onboard / Retail ready. Website | Sample: info@eyeonretail.net

 

2021 Best Employers for New Grads (Trader Joe’s #5, Costco #9, Publix #59) at Forbes. List/Read more

 

Instacart speeds up grocery orders with ‘Priority Delivery’ option at TechCrunch. “When the basket size grows larger or the order becomes more complicated, the app will update to display that the 30-minute window is no longer available and display the new delivery time. Instacart hasn’t yet finalized its pricing for the service, but Priority Delivery will carry an upcharge of some kind.” Read more

 

CVS to offer sweepstakes for COVID vaccine recipients at USA Today. “..a variety of prizes, including a trip to the Super Bowl, $5,000 to fund a family reunion, cruises or cash.” Read more

 

Sheetz Becomes First C- Store Chain to Accept Bitcoin Press release

 

Amazon rolls out kiosk for overwhelmed employees to use at Daily Dot. “Known simply as the “ZenBooth,” the new apparatus, according to a video released by the company on Wednesday, is an “interactive kiosk where you can navigate through a library of mental health and mindful practices to recharge that internal battery.” Read more

 

On-demand grocery startup Food Rocket launches in the Bay Area at TechCrunch. Read more

 

Tipsheet Extra

Longtime Amazon HR leader joins Snap

What Makes Amazon Fresh’s Onboarding Process Tick?

U.S. inflation surges in April; consumer spending moderates

Gas shortage? 20% to 25% of tanker trucks are currently parked due to a lack of drivers

Philly restaurant institutes $100 minimum policy

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Tipsheet: D. Gen -4.6% | F. Dol -2.8% | B.Buy +37.2% | Buffett #3 @ Kroger

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Best Buy Q1 enterprise comp sales +37.2% Press release

 

Dollar Tree Q1 comp sales: Enterprise +0.8% / Dollar Tree +4.7% / Family Dollar -2.8% Press release

 

Dollar General Q1 comp sales decreased 4.6% Press release

 

Burlington Stores Inc. comp sales +20% vs. 2019 Press release

 

Gap expands into home under new partnership with Walmart at AP. “The collection of more than 400 items is Gap’s first venture into the home category and it’s selling everything from bedding and bath goods to home decor. The collection will appear on Walmart’s site on June 24. They will eventually make it into Walmart stores…” Read more

 

Williams-Sonoma Inc. Q1 comp brand revenue +40.4% vs. 2020 “…all brands accelerating sequentially including West Elm at 50.9%, Pottery Barn at 41.3%, Williams Sonoma at 35.3% and Pottery Barn Kids and Teen at 27.6%.” Press release

 

American Eagle Inc. Q1 total revenue +17% vs. 2019 Press release

 

Andy Jassy will become Amazon’s CEO on July 5th at The Verge. “The company picked that date because it marks 27 years to the day that Amazon was incorporated, according to reporters who transcribed remarks from outgoing CEO Jeff Bezos.” Read more

 

** The Sweets & Snacks Expo is a can’t-miss event for thousands of confectionery and snack retailers, manufacturers and suppliers – here you’ll find all the product innovations, insights and industry connections you need to build a world-class in-store or online experience that will delight your shoppers. See who’s exhibiting | Show website | Indianapolis, June 23-25 2021

 

Warren Buffett becomes No. 3 holder in Kroger at Cincinnati Enquirer/USA Today. “Berkshire Hathaway now owns a 6.5% stake in Kroger – worth almost $1.9 billion. Mega investors Blackrock and Vanguard respectively hold 9.8% and 9.7% of Kroger.” Read more

 

Amazon looking at opening pharmacy stores in U.S. at Reuters. “The talks are mostly exploratory and any meaningful rollout of stores can take more than a year, according to the news site, citing people familiar with the matter. Insider also reported there were talks about putting the pharmacies inside of Amazon-owned Whole Foods locations.” Read more

 

Bed Bath & Beyond expands DoorDash same day delivery to over 3,000 additional zip codes across the country Press release

 

REI launches Co-op Studios to produce original content and entertainment “The next release from Co-op Studios is “The Trees Remember,”…written and directed by Angela Tucker of TuckerGurl, Inc. The series explores connection to nature through the heartfelt stories of three Black women.” Press release

 

Dick’s Q1 net sales +119% vs. 2020 / +52% vs. 2019 Press release

 

…Dick’s Sporting Goods says team sports’ return fueled comeback at Fox Business. “In light of its first quarter earnings, Dick’s expects its full-year adjusted earnings between $8 and $8.70 per share, which is up from between $4.40 to $5.20…” Read more

 

Build-A-Bear Inc. total revenues +96.7% vs. 2020 / +8.7% vs. 2019 Press release

 

Tipsheet Extra

Amazon closes construction site again after 8th ‘noose’ found

Vista Outdoor to acquire hunting-inspired fashion brand, e-bike company

Amazon’s share of CPG sales on Prime Day has averaged a 5x increase

LGBTQ employees are less satisfied at work, especially at Amazon and Walmart

Trudeau gets leeway from voters on slower U.S. border reopening

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Tipsheet: AutoZone +28.9% | Amazon Ad Rev $22.4B | WM ‘Bad Actor’

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AutoZone 3rd Quarter comp sales increase 28.9% “As of May 8, 2021, the Company had 5,975 stores in the U.S., 635 in Mexico and 47 in Brazil for a total store count of 6,657.” Press release

 

Deodorant, Teeth Whitener Fly Off the Shelves at Wall Street Journal. “Beauty products and teeth whiteners were big sellers during the most recent quarter at Walmart Inc., finance chief Brett Biggs said in an interview. “You can tell that the masks are coming off,” he said. Alarm clock sales doubled in April versus the same month last year at the country’s largest retailer, a spokeswoman said, while luggage sales rose 400%. Partyware sales more than doubled and balloon sales rose by 50%, she said.” WSJ subs.

 

Walmart says ‘bad actor’ responsible for emails sent containing racial slur at Fox Business. “A spokesperson for the company said that it was “shocked and appalled” to see the “offensive and unacceptable emails.” “We’re looking into our sign up process to ensure something like this doesn’t happen again,” the spokesperson said in a statement. “We’re also looking into all available means to hold those responsible accountable.” Read more

 

Amazon’s ad revenue is now twice as big as Snap, Twitter, Roku and Pinterest combined at CNBC. “Amazon generated $22.4 billion in ad revenue in the past 12 months, up 65% year-over-year, according to Loop.” Read more

 

Amazon in Negotiations to Buy MGM in Megadeal at The Hollywood Reporter. Read more

 

** The Sweets & Snacks Expo is a can’t-miss event for thousands of confectionery and snack retailers, manufacturers and suppliers – here you’ll find all the product innovations, insights and industry connections you need to build a world-class in-store or online experience that will delight your shoppers. See who’s exhibiting | Show website | Indianapolis, June 23-25 2021

 

Big Lots launches new “Be A BIGionaire” campaign “Featuring Retta – actor, author and producer best known for her role in the NBC series “Good Girls” and “Parks and Recreation” – the first “Be A BIGionaire” brand campaign television spots launched in select markets on April 24 and will be rolled out nationally ahead of the annual Memorial Day sale at Big Lots.” Press release / See spots

 

Etsy extends weapons ban to include gun parts, accessories at Fox Business. “The global online marketplace has long prohibited the sale of weapons, including guns and most gun parts, although it is now “expanding this enforcement”…” Read more

 

JD.com, Meituan, and Neolix to trial self-driving delivery vehicles on Beijing public roads at TechCrunch. Read more

 

Chinese Shoppers, Stuck in China, Revive Local Malls at Wall Street Journal. ““With the cessation of almost all international travel, and with Chinese tourists and luxury goods shoppers not as welcomed in the West as before, almost all such sales now transact inside China,” said Ronnie Chan, chairman of Hang Lung Properties…” WSJ subs.

 

Indoor farming company Bowery raises $300M at TechCrunch. ” The round, which brings its total funding north of $472 million, values the company at $2.3 billion…Its vertically farmed produce is now available in 850 grocery stores, including big-name chains like Albertsons, Giant Food, Walmart and Whole Foods.” Read more

 

Tipsheet Extra

Blue-collar director vote gives U.S. labor another crack at Amazon.com

Wolves scare deer and reduce auto collisions 24%, study says

UK furniture retailer Made.com wants to raise $141 million in an IPO

Disneyland to introduce $100 sandwich

Employees call on Amazon to address environmental harm to communities of color

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Tipsheet: F. Locker +80% | Badwill | BJ’s Wholesale @ Pitt | FTC Prods Amazon

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Foot Locker Q1 comp sales +80.3% Press release

 

Ross Stores Q1 comp sales +13% vs. 2019 Press release

 

The Buckle Q1 net sales +48.6% vs. 2019 Press release

 

Amazon internal messages show the FTC is prodding the tech giant to punish fake-review schemers at Recode. “Communications between Amazon employees viewed by Recode also appear to expose an inconsistent punishment system in which employees need special approval for suspending certain sellers because of their sales numbers, while some merchants are able to keep selling products to Amazon customers despite multiple policy violations and warnings.” Read more

 

TJX & Ross stage a comeback as shoppers crave ‘treasure hunting’ for clothes again at CNBC. “We see our stores as a desirable destination for consumers seeking some stress relief,” (TJX CEO) Herrman said, “and also a great place to shop when they are seeking inspiration and looking to discover new things, which is difficult to replicate online.” “Our business model now resonates more than it even did pre-Covid,” he said.” Read more

 

Amazon will end Prime Now as standalone service at GeekWire. “Prime Now will be integrated into Amazon’s main e-commerce website and app…” Read more

 

Amazon closing Connecticut site after another noose found at The Hill. “The noose was taken to a lab for testing, according to FOX61 News. Since then, five more ropes “that could be interpreted as nooses” have been identified around the site. “Some of them were just rope that was tied at the end and some were twisted in a manner to look like a noose,” said Power.” Read more

 

BJ’s Wholesale opening six new clubs this fiscal year – locations in the greater Pittsburgh area and in Lansing, Mich. are both new markets Press release

 

Food Supply Chains Are Stretched as Americans Head Back to Restaurants at Wall Street Journal. “The cost of pepperoni jumped 60% over the past five weeks for one independent pizzeria in Indiana, JPG Managing Director Glenn Pappalardo said. A deli in the state is only getting about 40% of the chicken it has ordered from suppliers, he said, while flour and tofu are out of stock about half the time.” WSJ subs.

 

China’s JD Logistics set to raise $3.2 billion in Hong Kong IPO at CNBC. Read more

 

Snap emphasizes commerce in updates to its camera and AR platforms at TechCrunch. “Users can now use their Snap Camera to scan a friend’s outfit, after which they’ll quickly be served up shopping recommendations from hundreds of brands.” Read more

 

Goodwill stores have a message: Please stop donating trash at AP/Yahoo. “If we don’t take something and they know we don’t take something, they don’t come when we’re open,” said Rolf Halverson, director of operations at Goodwill Industries of Houston, which has 61 retail stores in Texas. “They come in at 10:00 p.m. or in the middle of the night or run behind the store and drop off a ripped-up sofa. And that adds weight to our trash. So they put the bill on us instead of them.” Read more

 

Tipsheet Extra

U.S. defended Amazon after article showed company bypassed Indian law

Insurance giant CNA Financial reportedly paid hackers $40M in ransom

New BJ’s CEO Faces Up to Coming Comp Challenges

Nike partners with Customs and Border Protection to stop the influx of counterfeit goods

Amazon Introduces New Mental Health Benefit for U.S. Employees and Their Families

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Tipsheet: Furry Annuity | BJ’s -5% | Death By a 1000 Nibbles

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Petco Q1 comp sales +28% Press release

 

…FURRY ANNUITY – Petco swings to a profit and boosts forecast, citing customer growth at CNBC. “You might get a Peloton once, you might redo your garage once, but once you have a new furry friend they are going to need to be fed, they are going to need to be groomed, they are going to need to be vaccinated for a decade or more,” Coughlin said on CNBC’s “Squawk on the Street.” “We call it the furry annuity.” Read more

 

BJ’s Wholesale Club Q1 comp sales (ex-gas) down 5% Press release

 

Kohl’s Q1 net sales +69.5% Press release

 

…Kohl’s shares tumble despite the retailer’s strong sales beat at CNBC. “Kohl’s results are not as strong when compared with those before the Covid pandemic, according to GlobalData Retail Managing Director Neil Saunders, noting that sales are down about 10% from 2019 levels.” Read more

 

Ace Hardware Q1 US comp sales +29.9% Press release

 

Google to open its first ever physical retail store – located in New York City “…customers will be able to browse and buy an extensive selection of products made by Google, ranging from Pixel phones to Nest products, Fitbit devices to Pixelbooks and more.” Read more

 

** The Sweets & Snacks Expo is a can’t-miss event for thousands of confectionery and snack retailers, manufacturers and suppliers – here you’ll find all the product innovations, insights and industry connections you need to build a world-class in-store or online experience that will delight your shoppers. See who’s exhibiting | Show website | Indianapolis, June 23-25 2021

 

Best Buy Commits $10M to Grow Opportunities for Youth in Los Angeles “…will create up to 12 new Teen Tech Centers in the LA area by 2023. Best Buy currently has 35 Teen Tech Centers nationwide, including three in LA…this future network of Teen Tech Centers will help prepare at least 3,000 LA-area youth per year for local career opportunities.” Press release

 

Shoe Carnival Q1 comp sales +125% Press release

 

Every second counts as startups race to deliver fresh food at Reuters. “The boss of one of Europe’s biggest supermarkets, speaking on condition of anonymity, told Reuters that far from dismissing the new services as hype, they could pose “death by a thousand nibbles” to the dominant chains such as Tesco and Sainsbury’s, Aldi and Lidl.” Read more

 

7-Eleven to sell 293 Speedway and 7-Eleven Stores to three separate buyers Press release

 

Brooks Brothers’ former owners accused of driving company into bankruptcy to avoid losing millions at Fox Business. “According to the suit, the Del Vecchios refused to pursue “several bids for the purchase of Brooks Brothers in 2019″ — well before the pandemic toppled major retailers — because they would have been obligated to hand over hundreds of millions of dollars to Brooks Brothers’ shareholders, including TAL.” Read more

 

The secrets of Amazon reviews: Feedback, fakes, and the unwritten rules of online commerce at GeekWire. Read more/Podcast

 

Tipsheet Extra

Brothers Ride the Oat Milk Boom to $448 Million Fortune

Inside Lucky California’s Remodeled Flagship Store

Five more women are suing Amazon for discrimination and retaliation

Recycle Your Phone, Sure, But Maybe Not Your Number

The number of retirement millionaires has more than doubled from one year ago

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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: Target +22.9% | Lowe’s +25.9% | TJX +16% | Google/Shopify Team

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Target Q1 comp sales +22.9% “Store comparable sales increased 18.0 percent…Digital comparable sales grew 50 percent…Same-day services (Order Pickup, Drive Up and Shipt) grew more than 90 percent…More than 95 percent of Target’s first quarter sales were fulfilled by its stores.” Press release

 

…Target forecasts rising sales after bumper quarter as more Americans return to stores at Reuters. “Target’s focus in building its private label brands, including designer dress collection and activewear line All in Motion, is paying off, with sales from the business rising 36% in the first quarter, their best growth so far. That also helped drive its overall apparel sales, which rose in the low 60% range.” Read more

 

Lowe’s Q1 comp sales +25.9% “We delivered over 30% growth in Pro, over 18% growth in all 15 U.S. regions, and growth in Canada that outpaced the U.S.,” commented Marvin R. Ellison, Lowe’s president and CEO.” Press release

 

…Lowe’s growth lags Home Depot in home improvement battle at Fox Business. “…as virus restrictions ease, those high-spending customers have been returning to Home Depot’s stores for tools to complete a backlog of projects, helping the company post a much better-than-expected 31% jump in same-store sales and putting it back ahead of Lowe’s in terms of growth for the first time in a year.” Read more

 

TJX Companies Q1 open-only comp sales +16% “Q1 FY22 net sales were $10.1 billion, an increase of 129% compared to Q1 FY21…For the start of Q2 FY22, overall open-only comp store sales trends remain similar to Q1 FY22.” Press release

 

Google Partners with Shopify on online shopping expansion at TechCrunch. “Google (is) partnering with Shopify, giving the e-commerce platform’s more than 1.7 million merchants the ability to reach consumers through Google Search and its other services. The integration will allow merchants to sign up in just a few clicks to have their products appear across Google’s 1 billion “shopping journeys” that take place every day through Search, Maps, Images, Lens and YouTube.” Read more

 

**A message from Comfy Sacks – Shredded foam bean bag sales continue their meteoric sales growth! Grab your share of this high growth category and add some “wow” and high dollar ring to your assortment. Easy onboard / Retail ready. Website | Sample: info@eyeonretail.net 

 

Walmart Q1 Earnings Call Transcript Seeking Alpha

 

Lumber futures fall for an eighth-straight day at CNBC. “Lumber futures for July delivery fell about 5% to $1,201 per thousand board feet on Wednesday, according to FactSet. Prices hit what’s known as limit down, the maximum percentage decline allowed by the exchange. Prices have fallen every day since lumber hit a record of $1,711per thousand board feet on May 10.” Read more

 

The Container Store Group Q4 consolidated net sales +30.4% Press release

 

Amazon extends ban on police use of its facial recognition software ‘until further notice’ at Reuters. “…underscores how facial recognition remains a sensitive issue for big companies. The world’s largest online retailer did not comment on the reason for its decision. Last year, it said it hoped Congress would put in place rules to ensure ethical use of the technology, though no such law has materialized.” Read more

 

Home Depot Q1 Earnings Call Transcript Seeking Alpha

 

Macy’s expands into pets, hair care and gourmet food to gain new shoppers at CNBC. “Macy’s biggest hope with this strategy is that it will be able to attract more customers who are under 40 years old. Gennette said the company’s top target is the “millennial mom.” Read more

 

Tipsheet Extra

Target is coming to downtown San Diego courtesy of a 22-story apartment tower

H-E-B removes curbside pickup fee

DevHub acquires retail tech startup Brickwork to boost online-to-store experiences

‘Slavery’ found at a Malaysian glove factory. Why didn’t the auditor see it?

Ammunition sales fueled by millennials and people of color: Vista Outdoor CEO

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Tipsheet: CVS New CFO | Target #26 Citizen | Sam’s +7.2% | Shein Overtakes Amazon

/in

 

Walmart US Q1 comp sales +6.0% / Sam’s Club comp sales +7.2% Press release

 

…Pent-up demand, stimulus power Walmart’s ‘optimism’ for the year at Reuters. “Our optimism is higher than it was at the beginning of the year. In the U.S., customers clearly want to get out and shop,” Chief Executive Officer Doug McMillon said in a statement. “We anticipate continued pent-up demand throughout 2021.” Read more

 

Home Depot Q1 comp sales +31% Press release

 

…Home Depot crushes Q1 estimates at CNBC. “For the company’s first quarter this year, it reported 447.2 million customer transactions, up 19.3% from a year ago. Consumers were also spending more during their visits. Average ticket rose 10.3% to $82.37.” Read more

 

Macy’s Q1 comp sales up 63.9% on an owned plus licensed basis Press release

 

…Macy’s Surprises With Quarterly Profit and Raises Full-Year Outlook at Yahoo Finance. “According to chairman and CEO Jeff Gennette, Macy’s outperformed sales expectations across all three of its brands: its namesake chain, Bloomingdale’s and luxury beauty retailer Bluemercury.” Read more

 

Amazon Said to Make $9 Billion Offer for MGM at Variety. “Chatter that Amazon (and other tech and media giants) have been sniffing around MGM has circulated for some time. But sources indicated that Amazon’s interest in acquiring the studio has taken on a new tenor beyond the usual rumor mill.” Read more

 

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

 

CVS appoints Shawn Guertin CFO as Eva Boratto exits at Reuters. “Guertin was with U.S. health insurer Aetna for 8 years and served as its executive vice president, chief financial officer and chief enterprise risk officer. He also played a key part in Aetna’s merger with CVS Health in 2018.” Read more

 

US home construction falls a surprise 9.5% in April at AP. “The report showed that applications for building permits, considered a good sign of future activity, rose 0.3% in April to an annual rate of 1.76 million units, a good sign that the April dip in construction will be temporary.” Read more

 

100 Best Corporate Citizens of 2021 (CVS #11, Target #26, Gap #32, Walmart #75, Best Buy #76, Walgreens #80) at 3BL Media Top 100 list

 

Target adding same-day delivery and pickup of adult beverages Read more

 

Amazon may launch healthcare business line with at-home COVID test and other diagnostic services at GeekWire. “Sources told Insider that Amazon could offer testing kits for infections that lead to respiratory and sexually transmitted diseases, and its long-term goal is to expand into areas such as clinical genomics. According to the report, a COVID-19 testing kit could arrive from Amazon in June.” Read more

 

Alibaba leads $400 mln funding in Masan’s retail firm, first Vietnam investment at Reuters. Read more

 

Amazon rebrands Amazon Go Grocery to Amazon Fresh at GeekWire. Read more

 

Britain’s M&S promotes food and strategy bosses in top team shake-up at Reuters. “British retailer Marks & Spencer has promoted strategy chief Katie Bickerstaffe and food boss Stuart Machin in a major shake-up of its management team’s responsibilities, making them the internal frontrunners to succeed Steve Rowe as chief executive.” Read more

 

EBay hires JetBlue CFO to head up finance Press release

 

Shein overtakes Amazon as the most installed shopping app in US at TechCrunch. “Its ascent is quiet because the startup, despite reportedly exceeding a $15 billion valuation, maintains an unusually low profile and doesn’t try to make itself known to the media. The app, dubbed the “TikTok for e-commerce” by China-focused internet analyst Matthew Brennan in this thorough piece on the startup, manufactures in China as many apparel retailers do.” Read more

 

Bed Bath & Beyond names John Barresi to the role of SVP Finance, Chief Accounting Officer “Mr. Barresi comes to Bed Bath & Beyond from Tiffany & Co., where he most recently served as Vice President of Global Business Transformation.” Read more

 

Tipsheet Extra

Traffic cones confused a Waymo self-driving car. Then things got worse.

Employer mandates? What full FDA approval could mean for Covid vaccines

Walgreens Advertising Group adds capabilities

Group launches ad campaign against ‘woke capitalism,’ targeting CEOs by name

More indelible than ink: Tattoo businesses flourish again

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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: 13M Fake Amazon Reviews | Target No Mask | DC 90% No Fuel

/in

 

Target ends mask requirement for fully vaccinated customers at USA Today. “Given the CDC’s updated guidance last week, Target will no longer require fully vaccinated guests and team members to wear face coverings in our stores, except where it’s required by local ordinances,” the retailer said in a statement Monday.” Read more

 

Walmart says fully vaccinated employees can go without masks starting Tuesday at NY Post. Read more

 

China says retail sales grew 17.7% in April, missing expectations at CNBC. “That missed expectations of 24.9% growth in April, according to analysts polled by Reuters.” Read more

 

Millionaires who favor raising taxes on the rich launch protests in front of Jeff Bezos’ home at USA Today. “Leaders of the Patriotic Millionaires told CNBC they are organizing a group of up to 30 protesters to converge on to Bezos’ New York residence with a billboard that says “Cut the bull—-. Tax the rich.” Read more

 

JD.com’s logistics subsidiary is getting ready for an initial public offering in Hong Kong at TechCrunch. “JD.com, Alibaba’s e-commerce rival in China, began building its own logistics and transportation network from the ground up in 2007 and spun out the unit in 2017.” Read more

 

At Home Group’s biggest shareholder to oppose deal to take retailer private at Fox Business. “At Home agreed May 6 to sell itself for $36 a share…CAS said in the letter the deal “grossly undervalues the company and deprives stockholders of anything resembling a fair premium.” It suggested that a price above $70 a share would be more realistic…” Read more

 

About half of North Carolina gas stations still without fuel Monday morning at WCTI 12 ABC. Read more

 

…Ongoing gas shortage leaves nearly 90% of DC pumps without fuel at Fox Business. Read more

 

** The Sweets & Snacks Expo is a can’t-miss event for thousands of confectionery and snack retailers, manufacturers and suppliers – here you’ll find all the product innovations, insights and industry connections you need to build a world-class in-store or online experience that will delight your shoppers. See who’s exhibiting | Show website | Indianapolis, June 23-25 2021

 

Merchant commerce platform Pine Labs valued at $3 billion in new fundraise at TechCrunch. “The startup, which also counts PayPal among its investors, serves over 140,000 merchants. Its payments terminal — also known as point-of-sale machines — are connected to the cloud, and offer a range of additional services such as working capital — to the merchants.” Read more

 

Dillard’s posts impressive first quarter results, revenue up 65% at Talk Business. Read more

 

Massive database of fake Amazon reviews exposed at Fox Business. “Described as an “organized fake reviews scam,” the server contains over 13 million records – about 7 GB of data – potentially involving more than 200,000 people in unethical activities, the SafetyDetectives report said.” Read more

 

J.Crew Is Naming Former Supreme Designer to ‘Disrupt’ Brand at Wall Street Journal. “The company on Monday is naming Brendon Babenzien, co-owner of culty New York menswear label Noah and former longtime design director at pioneering streetwear brand Supreme, to the role of J.Crew’s men’s creative director. His first designs will hit stores in the second half of 2022.” WSJ subs.

 

Amazon launches new worker safety program “Part of the company’s mission to be Earth’s Safest Place to Work…Program components will roll out to all Amazon operations sites in the U.S. by end of year with the aim of cutting recordable incident rates by 50 percent by 2025.” Press release

 

A $100 Million Bet on Cross-Country Restaurant Delivery at DNYUZ. “More than 400 of the 850 restaurants that sell food on Goldbelly’s platform have joined since the start of the pandemic, an influx that the company says has more than quadrupled sales over the past 12 months. On the back of that boon, Goldbelly plans to announce this week that it has raised $100 million in new funding.” Read more

 

Tipsheet Extra

eBay will enact a sex ban starting June 15th

Chrissy Teigen’s Cravings cookware is dropped online by Macy’s 3 days after Target

Amazon launches free video streaming service in India

Amazon helps offer $50K reward for information on noose found at warehouse

Smart & Final to be acquired by Bodega Latina for $620 million

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