Archive for year: 2021

 

Grocery Courier Boxed to Go Public in SPAC Deal at Wall Street Journal. “Boxed and Seven Oaks Acquisition Corp. said the deal would value the combined company at nearly $900 million and provide money to serve more households and businesses that started ordering groceries online during the pandemic…Boxed isn’t profitable, Mr. Huang said, but Boxed and Seven Oaks projected that its software, advertising and delivery businesses would help it turn a profit within several years.” WSJ subs.

 

Home Depot contracted its own container ship as a safeguard at CNBC. “We have a ship that’s solely going to be ours and it’s just going to go back and forth with 100% dedicated to Home Depot,” Chief Operating Officer Ted Decker said in an interview. It marks the first time that the company has taken such a step.” Read more

 

Walton Family, World’s Richest, Raises $2.1 Billion From Walmart Holdings at Bloomberg. “Members of the Walton family have sold 16.7 million shares of Walmart Inc. this year as they try to keep their stake in the world’s biggest retailer from ballooning amid the company’s stock buybacks. The Walton Family Holdings Trust sold $430 million worth over the past week, taking their total sales to almost $2.1 billion since Jan. 1, according to Securities and Exchange Commission filings.” Tiered subs.

 

Sam’s Club getting into home improvement business at Fox Business. “…in collaboration with Service Finance Company, LLC, a subsidiary of ECN Capital Corp., announced plans to launch Sam’s Club Home Install Experts by Service Finance. The service is said to connect members with local home improvement contractors…” 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

 

Spare ticket for spaceflight with Jeff Bezos auctioned for $28 million at CNN. “The company kicked off the auction last month — before it was revealed that billionaire founder and Amazon mogul Bezos, along with his brother Mark Bezos, would be on board New Shepard’s inaugural crewed mission…The flight is expected to take off from Blue Origin’s facilities in West Texas town of Van Horn, on July 20.” Read more

 

Amazon’s new robotic recruits aim to reduce workplace injuries at Fox Business. “Also in development is Amazon’s first autonomous mobile robot, Bert, which is designed to navigate freely through its facilities using advanced safety, perception and navigation technology. According to Amazon, Bert would not have to remain in a restricted space and would be used to carry individual items across its fulfillment centers.” Videos/Read more

 

Amazon’s game streaming service Luna is opening access to all Prime members June 21 and 22 at The Verge. Read more

 

Why Japan refuses to work from home—even in a deadly pandemic at Fortune. “The latest figures from Tokyo-based non-profit Japan Productivity Center (JPC) show that remote work has ticked up to 20% across Japan since the start of the pandemic, just ten percentage points higher than “normal.” By comparison, 44% of Americans worked from home during the pandemic, up from 17%.” Read more

 

Nike Super Spikes Are So Fast That Rivals Are Wearing Them at Wall Street Journal. “…the near-universal belief that they help has prompted a radical move ahead of the U.S. Olympic Track & Field trials that start June 18 in Eugene, Ore.: Brands that pay elite athletes to endorse their shoes are granting them permission to wear a competitor’s product. For many runners, that’s Nike. Reebok and Brooks have said they’ll allow their athletes to wear another brand at the trials.” WSJ subs.

 

Tipsheet Extra Stories

Shopify acquires the team from augmented reality startup Primer

Starbucks files trademark application for stadium naming rights

Mall owner Washington Prime Group files for Chapter 11 bankruptcy

Post-pandemic life has thrust us into the 6th stage of grief: the search for meaning

Amazon Is Pushing For Legalization, But It Probably Won’t Deliver Cannabis

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Amazon Prime Day will take place June 21 and 22 Press release

 

Largest meat producer getting back online after cyberattack at AP. “If it were to shut down for even one day, the U.S. would lose almost a quarter of its beef-processing capacity, or the equivalent of 20,000 beef cows, according to Trey Malone, an assistant professor of agriculture at Michigan State University.” Read more

 

Amazon Faced 75,000 Arbitration Demands. Now It Says: Fine, Sue Us at Wall Street Journal. “Companies have spent more than a decade forcing employees and customers to resolve disputes outside the traditional court system, using secretive arbitration proceedings that typically don’t allow plaintiffs to team up and extract big-money payments akin to a class action. Now, Amazon.com Inc. is bucking that trend.” WSJ subs.

 

Ace Hardware ranks #1 (Menards #2) in customer satisfaction for Home Improvement retailers at J.D. Power. “Just 13% of home improvement retailer customers say they purchased products via a retailer’s website… satisfaction among Gen Y and Gen Z customers averages 842 (on a 1,000-point scale) while overall satisfaction among Gen X and Boomers averages 824.” Press release

 

At Home Group Q1 comp sales +187.3% Press release

 

Walmart to increase hours Saturday with stores opening at 6 a.m. at USA Today. “Starting June 5, stores will open an hour earlier – at 6 a.m. each day – except for Tuesday mornings, when Walmart will continue to hold its weekly senior hours for those most vulnerable to COVID-19…Most pharmacies and vision centers will resume pre-COVID hours beginning July 3.” 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

 

Advance Auto Parts Q1 comp sales +24.7% Press release

 

Etsy targets Gen Z shoppers with $1.6 billion Depop acquisition at The Verge. “Etsy says more than 90 percent of Depop’s users are under 26…while Etsy’s own users are firmly millennial, with a median age for sellers of around 39. Etsy claims that Depop is the 10th most visited shopping site for Gen Z consumer in the US.” Read more

 

Amazon backs legal pot, mellows on employee testing and tracking at GeekWire. “But perhaps the biggest news for hundreds of thousands of warehouse employees is that the online retail giant is modifying its infamous Time off Task employee tracking software to provide more breathing room for bathroom breaks, conversations with supervisors, and equipment repair.” Read more

 

Walgreens completes the sale of its Alliance Healthcare businesses to AmerisourceBergen for approximately $6.5 billion Press release

 

Instacart has a plan to use robots instead of shoppers at NY Post. “(Instacart), which has been slammed with protests over accusations that it has been nickel-and-diming its workers, would largely eliminate personal shoppers under the initiative except for those that gather fresh food, according to the report.” Read more

 

How the World Ran Out of Everything at DNYUZ. “The real question is, ‘Are we going to stop chasing low cost as the sole criteria for business judgment?’” said Mr. Shih, from Harvard Business School. “I’m skeptical of that. Consumers won’t pay for resilience when they are not in crisis.” Read more

 

Tipsheet Extra

Albertsons’ Electric Trucks Hit the Streets

Sam’s Club Brings Sampling Back to Clubs Nationwide

Target joins list of retailers reopening dressing rooms

Amazon workers injured on the job far more often than competitors

One way companies are concealing higher prices: Smaller packages

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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

 

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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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.

 

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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

 

Website: eyeonretail.net

 

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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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