Tipsheet: B.Buy/Dick’s Beat | 39% Shop & Drive | WM’s 50K Personal Shoppers
Best Buy Q3 comp sales +1.7% “Best Buy is updating its full-year FY20 financial outlook to the following: Enterprise comparable sales growth of 1.0% to 2.0%, which compares to prior guidance of 0.7% to 1.7%.” Press release
…Best Buy shares surge after beating expectations and raising forecast ahead of the holidays at CNBC. “Reported vs. expected, based on a survey of analysts by Refinitiv: Earnings per share, adjusted: $1.13 vs. $1.03 expected. Revenue: $9.76 billion vs. $9.70 billion expected. Same-store sales growth: 1.7% vs. 1.3% expected.” Read more
Dick’s Q3 comp sales +6.0% “Edward Stack, Chairman and CEO: ‘As we head into the holiday season, we remain very enthusiastic about our business, and we are pleased to increase our full year sales and earnings outlook for the third time this year.'” Press release
…Dick’s Sporting Goods soars after raising earnings outlook at Fox Business. Read more
Dollar Tree Q3 enterprise comp sales +2.5%. By segment: Dollar Tree +2.8% / Family Dollar +2.3% Press release
They Can See You Typing When You’re Shopping Online at NY Times. “It is one thing to think, ‘O.K., somehow my clicks are being recorded somewhere,’” said Christine Bannan, a consumer protection lawyer at the Electronic Privacy Information Center. “But to think of an individual sales rep watching all of your clicks, I think it will resonate with people that this sort of tracking is so prevalent and what it really means. It makes it less abstract.” Tiered subs.
Famous Footwear Q3 comp sales +2.5% Press release
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Ruthless Quotas at Amazon Are Maiming Employees by Will Evans at The Atlantic. “When a maintenance worker was crushed to death by a forklift there, state officials in Indiana, which then was jockeying for Amazon’s second headquarters, sided with the company over their own investigator. “When you order something from Amazon and you’ve worked inside Amazon, you wonder, ‘Hey, is ordering my package going to be the demise of somebody?’” said one former safety manager, who had worked at multiple Amazon facilities.” Read more
EBay is selling off StubHub in a $4 billion deal at CNN. Read more
Walmart SVP Tom Ward shares insights from online grocery business by Kim Souza at Talk Business. “Ward said the secret sauce of the program’s success is the personal shoppers who do the order picking. These employees are the “cream of the crop,” and they have the closest contact with customers, he added. …“We will soon hire our 50,000th personal shopper, which is a huge milestone given the job didn’t exist three years ago.” Read more
Ad business a boon for Amazon but a turn-off for shoppers at AP. “After David Sinclair’s book on aging went on sale in September, colleagues told him that when they typed his name on Amazon, they saw ads for vitamins and supplements above his book. The supplement makers had selected Sinclair’s name as a keyword, hoping to get the attention of people who wanted to buy his book, “Lifespan: Why We Age — and Why We Don’t Have To.” Read more
Zappos settles major data breach lawsuit with 10% discounts for customers through end of year by Monica Nickelsburg at GeekWire. Read more
Tesco Follows Amazon, Netflix Playbook With Paid Loyalty Card by Rebecca Smith at Bloomberg. “Britain’s largest retailer this month introduced Clubcard Plus, a subscription-based loyalty plan where customers pay a monthly fee to receive special deals. It expands on Tesco’s existing points-based system with a business model more in line with Amazon Prime, Costco Wholesale Corp. or even Netflix Inc.” Tiered subs.
Close to two out of every five of Americans have shopped on their mobile devices while driving at Fast Company. Read more
Arts and crafts chain A.C. Moore will close its 145 stores, its parent company Nicole Crafts announced in a news release Monday. Up to 40 of the closing locations will become Michaels at USA Today. Read more
Allbirds tells Amazon it forgot to steal the most important part of its shoe by Nick Statt at The Verge. “We are flattered at the similarities that your private label shoe shares with ours, but hoped the commonalities would include these environmentally-friendly materials as well,” (Allbirds co-CEO) writes.” Read more
‘Star Wars: Rise of Skywalker’ Script Ended Up on eBay at Variety. “One of our actors, I won’t say which one — I want to, but I won’t — left it under their bed and it was found by someone who was cleaning their place,” Abrams said. “It was then given to someone else who went to sell it on eBay.” Read more
Tipsheet Extra
How LVMH’s whirlwind courtship sealed $16 billion Tiffany deal
Boston bans menthol cigarettes from c-stores
Amazon awards shine spotlight on third-party sellers
Musk promises Cybertruck vs. Ford F-150 rematch after controversy
Nike is the latest company to offer 3% cash back to Apple Card users
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