Tipsheet: Sam’s +0.3% | WM +3.4% | Gap #9 Citizen | Costco #14 F500
Walmart Q1 U.S. comp sales +3.4% (vs. +3.3% expected) at CNBC. “Walmart earnings for the first quarter top analysts’ estimates…Walmart’s e-commerce revenues during the quarter grew 37%.” Read more
Walmart says higher tariffs on China goods will increase prices for U.S. shoppers at Reuters. “Walmart Chief Financial Officer Brett Biggs told Reuters that…(Walmart) will seek to ease the pain, in part by trying to obtain products from different countries and by working with suppliers’ “costs structures to manage higher tariffs.” Read more
Sam’s Club Q1 comp sales +0.3% (ex. fuel) Press release
Dillard’s Q1 comp sales flat Press release
SoftBank Doubles Down on Indian Grocery Venture by Newley Purnell at Wall Street Journal. “Grofers India Pvt. said Wednesday that it received just over $200 million in a funding round led by the Vision Fund, which SoftBank Chief Executive Masayoshi Son is using to invest in cutting-edge technologies.” WSJ subs.
2019 Fortune 500 (Walmart #1, Amazon #5, CVS #8, Costco #14) List
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Instacart and Whole Foods officially part ways at CNBC. “Whole Foods was also once Instacart’s largest partner, but a person close to the company tells CNBC that today it accounts for less than five percent of total revenue.” Read more
Macy’s Q1 comp sales +0.6% owned / +0.7% owned + licensed Press release
Kohl’s explores acquisition of At Home Group at Reuters. “Kohl’s recently started conversations with At Home Group to explore a deal, the sources said. At Home Group has been exploring a sale for the last three months, and is already in advanced deal negotiations with private equity firms, including Hellman & Friedman LLC, the sources added.” Read more
100 Best Corporate Citizens (Gap #9, CVS #28, Best Buy #67) at CR Magazine. List
Boxed Partners With Lidl by Chloe Sorvino at Forbes. “(Boxed) now offers delivery to Lidl customers in parts of both New York and Georgia…Boxed customers in those areas will now also have access to fresh meat and produce delivery for the first time…“This is just the first test,” says Chieh Huang, CEO and cofounder of Boxed. “But as the partnership gets deeper, we can bring a lot more to the table.” Read more
The world’s 20 fastest growing retailers (Wayfair #2, Duluth Trading #8) at USA Today. Read more
Online Luggage Retailer Away Lands $1.4 Billion Valuation as It Plots Expansion by Katie Roof at Wall Street Journal. “Away, which said its 2018 sales totaled $150 million, is planning to use some of the new capital to expand into apparel, wellness and lifestyle accessories. Co-founders Jen Rubio and Steph Korey, both previously with Warby Parker, said they are considering adding businesses like skin care, supplements and comfortable yet fashionable clothes for wearing on a plane.” WSJ subs.
Petco offering a free upgrade to artificial-free pet food by Kelly Tyko at USA Today. “This weekend, bring in any can or bag of dog or cat food with artificial ingredients to one of the retailer’s 1,500-plus locations and get a free artificial-free upgrade…(Petco) stopped selling dog and cat food with artificial ingredients on May 1.” Read more
Jeff Bezos moves some earth to break ground on new $1.5B Amazon Prime Air hub near Cincinnati by Kurt Schlosser at GeekWire. “…new 3-million-square-foot air cargo hub at Cincinnati/Northern Kentucky International Airport. The $1.5 billion project, which is scheduled to open in 2021, will reportedly create 2,000 jobs.” Read more
Alibaba invests about $635M in Red Star Macalline, one of China’s largest furniture sellers by Catherine Shu at TechCrunch. Read more
What do Google Chrome’s new privacy customization options mean for retailers? by Katie Evans at Bloomberg via Internet Retailer. “Leon Rbibo, president of online jewelry retailer LagunaPearl.com, says he is taking a wait and see approach. “Initially it was shocking to hear the news from Google, especially as we do quite a bit of display advertising and this could potentially impact who gets served ads and when.” Read more
Tipsheet Extra Stories
Jeff Bezos honors his Cuban immigrant father at new Statue of Liberty museum
Stranger Things’ amazing Lego set takes the Upside Down literally
Brewery offered free beer as reward for finding stolen van. It was back in 42 minutes
This retailer is the ‘poster child’ for tariff risk, according to Credit Suisse
Taco Bell is opening a hotel and resort
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