Kroger -0.8% | BJ’s #21 | H.Depot +Women | Cinnamon +Lead
Kroger Q4 identical sales (ex-gas) down 0.8% Press release
BJ’s Wholesale Q4 comps up 0.5% (ex-gas) Press release
…BJ’s to enter 21st state @ KY
Newsweek: America’s Greatest Workplaces for Women 2024 (Home Depot, Wegmans, Bath & Body Works…) “These 1,000 U.S.-based companies ranked highest when evaluated on metrics including compensation, work-life balance and proactive management on diversity.” List
Duluth Trading Q4 net sales up 1.6% / Retail store net sales decreased by 12.2% Press release
Temu’s Push Into America Pays Off Big Time for Meta and Google at WSJ. “Temu, spent nearly $2 billion on advertisements last year at Meta, according to people familiar with the matter, surprising executives (at Meta)…Temu also became one of Google’s top five advertisers by spending last year…Goldman Sachs estimated that Temu’s marketing spending contributed to an average loss of $7 an order in 2023…” WSJ subs.
American Eagle Outfitters, Inc. Q4 revenue up 12%…Comps: American Eagle up 6% / Aerie up 13% Press release
…Abercrombie & Fitch Is Reaping the Rewards of Taking Adult Women Seriously at WSJ. “Executives drew inspiration from Abercrombie’s heritage in the 1890s, when its marketing promoted clothes designed for “the great escape.”. “When you think about the concept of a great escape, and you put that into today’s 20-something vernacular, it’s the long weekend,” Collins Krug said. “So we started with understanding that 96-hour period in our customers’ lives.” The long weekend for the typical Abercrombie customer no longer entails bonfires on the beach or hitting the clubs until dawn…” WSJ subs.
Zulily set to relaunch under new owner Beyond, now led by Marcus Lemonis of ‘The Profit’ fame at GeekWire. “The company’s social media accounts sent a message Wednesday evening: “The only purple that saves you money. Coming soon.” Marcus Lemonis…posted the same message on Wednesday from his own account.” Read more
Clark: Walmart focused on people and technology for future success at Talk Business. “Cedric Clark, executive vice president of store operations for Walmart’s U.S. segment…recently presented at the WalStreet Breakfast event for suppliers in Bentonville…He said store remodels that feature product vignettes and mannequins to help better merchandise inventory is a big step with the previous stack-them-high-and-watch-them-fly philosophy. “We are not trying to be Target, but we are looking at our stores differently today,” he said.” Read more
Amazon teams with recycling robot firm to track package waste at TechCrunch. “Glacier’s offering revolves around two primary products. The first is a robot that is primarily deployed in recycling facilities to sort through different materials…The second is an AI scanner. The second is the one Amazon is piloting.” Read more
JD gives China bargain hunters glimmer of hope at Reuters. “JD increase(d) revenue in the final three months of 2023 to $43 billion, a better-than-expected 3.6% increase on the previous year. Keeping expenses in check meant earnings jumped by an even better 13%.” Read more
The Buckle, Inc Feb. comp sales down 11.5% Press release
Foot Locker’s stock down sharply at MarketWatch. “The stock plummeted 30.8% in afternoon trading…Prior to the selloff, the stock had run up 106.2% since it closed at a 13-year low of $16.64 on Aug. 23, 2023…“proactively reinvested in markdowns” to reduce inventory…was “more aggressive” in cutting prices in areas where inventory levels were “challenged,” particularly in apparel.” Read more
Federal Investigators suggested that banks query transactions with keywords like Dick’s Sporting Goods, Cabela’s & Bass Pro Shops at Fox News
India’s Flipkart readies quick-commerce play at TechCrunch. “The firm, majorly owned by Walmart, plans to make the instant-delivery service available in select locations as early as May this year, the source said, requesting anonymity as the matter is private. The deliberations are ongoing and the timeline may slightly change, the source cautioned.” Read more
Why Amazon Is Paying $650 Million for Access to Nuclear Power at Inc. “While AWS’ deal wouldn’t be the first time providers turned to nuclear for additional power for AI, it does represent the first campus with direct nuclear power access. That proximity, however, had given some cloud providers pause due to safety concerns…” Read more
United Natural Foods, Inc. Q2 net sales down 0.5% / Giorgio Matteo Tarditi named President and CFO
Ground cinnamon sold at discount stores is tainted with lead, FDA warns at AP News. “The U.S. Food and Drug Administration said cinnamon sold by stores including the Dollar Tree and Family Dollar contains lead at levels that could be unsafe for people, particularly children, with prolonged exposure to the spice.” Read more