Archive for category: Eye-on-Retail

Jeff Bezos spotted having dinner with Trump at Mar-a-Lago at NY Post. “Amazon founder Jeff Bezos was seen sauntering into Mar-a-Lago late Wednesday night to have dinner with President-elect Donald Trump. Bezos walked in with his fiancée Lauren Sanchez for their first dinner with Trump since the soon-to-be 47th president won re-election.” Read more

Amazon workers strike at seven U.S. facilities ahead of Christmas rush at CNBC. “Warehouse workers in cities including New York, Atlanta and San Francisco are taking part in the “largest” strike against Amazon, said the International Brotherhood of Teamsters, which represents about 10,000 workers at 10 of the firm’s facilities.” Read more

The Top Secret Gift Shop Where You Need Clearance to Get In at WSJ. “Skip the chintzy T-shirt vendors on the National Mall and head straight to the CIA. Just be ready to provide your social security number and leave enough time to clear multiple layers of security. And bring cash…Federal buildings hide what may be the world’s most exclusive gift shops…You can buy china at the Transportation Department, bathrobes at the State Department and playing cards at the Justice Department.” WSJ subs.

How Vuori reached a $5.5 billion valuation by taking share from Lululemon at CNBC. “When athleisure brand Vuori launched in 2015, it was headquartered in a garage, sold only men’s shorts and couldn’t get investors to give it the time of day. Now, the Carlsbad, California, retailer is expanding globally, backed by a string of marquee investors including General Atlantic, SoftBank and Norwest Venture Partners, after raising $825 million in November in a funding round that valued the company at $5.5 billion.” Read more

Nike’s new CEO is trying to clear out inventory and pressuring retailer partners at WSJ. “During one of the busiest shopping weekends of the year, Nike was the only brand to have a 30% discount on most of its footwear at Macy’s famous Herald Square location in New York City…Nike is now selling more to retailers such as Foot Locker and Macy’s than it did a couple of years ago. It is also rekindling relationships with retailers such as DSW that it cut ties with in 2022 under former CEO John Donahoe to focus on selling items directly to consumers.” WSJ subs.

Seeing low-income consumers squeezed, retailers target $10 and under gifts at Reuters. “In a sign of how retailers are rearranging their merchandise to cater to cash-strapped shoppers, the average price of Walmart’s 70 top toys was 10% lower than last year’s, at $40.16, according to D.A. Davidson.” Read more

***A message from Sensi: Sensi named a “Best Smart Thermostat of 2024” by CNET noting its simple and intuitive display, which allows you to make changes easily. Website | Contact: info@eyeonretail.net

Amazon delays return-to-office in some cities due to lack of space at GeekWire. “Offices in Atlanta, Dallas, Houston, Nashville, New York, and Phoenix are affected, according to the reports. Some return dates are pushed back as much as four months.” Read more

Bitcoin’s rally is nudging more luxury companies to make crypto a payment option—and sends a strong message to its younger clientele at Fortune/Yahoo. “We’re delighted to see the luxury sector embracing cryptocurrency payments, as demonstrated by our recent partnership with Printemps in France,” a Binance spokesperson told Fortune. “This initiative has generated significant interest, and we’re already in talks with other luxury brands eager to integrate cryptocurrency payments.” Read more

Amazon devices chief gives free Kindle Paperwhites to people stopping by HQ fruit stand at GeekWire

Canada Post now ‘fully operational’ and couriers recovering — but backlog could take weeks to clear at Toronto Star. “While the labour fight may be ongoing — the Canadian Union of Postal Workers (CUPW) said Tuesday evening that the federal labour minister’s directive that paused the strike is “an illegal breach” that it will “fight” — for most Canadians, mail delivery should be returning to normal, once the substantial postal backlog has been cleared.” Read more

Amazon One Medical sued after patient dies at Consumer Affairs

Dollar Tree Names Michael C. Creedon, Jr. as CEO “Creedon joined Dollar Tree in 2022 as Chief Operating Officer and over the past two years has taken on increasing levels of responsibility.” Press release

Marc Lore is betting artificial intelligence will choose your meals for you in the future at NY Post. “We’re talking about five to 10 years into the future here. But I’m thinking about the bigger vision… there’s a real opportunity for AI to have a place in telling people what they should eat on a meal basis,” he explained. “Think about an AI that knows you as well as you know yourself.” Read more

Stop & Shop names Lee Nicholson as new chief merchant at Chain Store Age

***Advertise your product, service or event in Eye on Retail Tipsheet to get in front of the most powerful retail decision-makers in the world. Contact: jlong@eyeonretail.net

Costco’s popular Kirkland diapers shifting suppliers at Bloomberg/Orange County Register. “First Quality is replacing Kimberly-Clark Corp. as the maker of Costco’s diapers, with the official change set to happen in January…Earlier this month, Kimberly-Clark CFO Nelson Urdaneta said that the company’s exit of private label businesses, “allows us to dedicate our capacity and our investments to our own technologies and brands to differentiate them.” Read more

Amazon is officially in the online car sales business at TechCrunch. “Amazon is kicking off the new endeavor with Hyundai in 48 U.S. cities…Amazon Autos will function, in many ways, like the rest of the broader Amazon e-commerce ecosystem. Shoppers will be able to search for available vehicles from participating dealers by model, trim, color, and features. Notably, customers will also be able to secure financing and e-sign paperwork via the Amazon Autos site. Once the payment is finalized, customers can schedule when to pick up their vehicle from that dealership.” Read more

Activist investors urge Macy’s to make changes to boost stock at AP. “Activist investor Barington Capital Group is calling on department store retailer Macy’s to develop an internal real estate subsidiary, reduce capital expenditures, and explore strategic options for its Bloomingdale’s and Bluemercury chains among other changes to boost its slumping stock…” Read more

Casey’s Q2: Inside same-store sales increased 4.0% Press release

Retiree Who Shot Walmart Drone In Plea Deal at The Smoking Gun. “Winn said, he retrieved his firearm from a gun safe and fired. “Now they say I hit it, so I must be a good shot,” he said…When the DroneUp workers heard gunfire–and saw Winn “holding a handgun towards the sky”–they ran back to their van, while the drone returned to a Walmart Supercenter about four miles away…” Read more

PetSmart launches streaming experience for cats and dogs Press release

How an App Selling Secondhand Clothes Went From Near Collapse to Worth $5 Billion at WSJ. “Today Vinted is changing the way millions of people shop and dress. In France and the U.K., its top markets, about one person in four is buying or selling on the Vinted platform. The app has a limited presence in the U.S. but is planning to make a big push there in the coming years.” WSJ subs.

***A message from Sensi: Sensi named a “Best Smart Thermostat of 2024” by CNET. CNET recently named the Sensi Touch 2 to its list of “Best Smart Thermostats of 2024,” noting its simple and intuitive display, which allows you to make changes easily. Website | Contact: info@eyeonretail.net

Amazon is bringing Intuit QuickBooks software to its millions of third-party sellers at CNBC. “Intuit QuickBooks will be available on Amazon Seller Central…Eligible sellers will also have access to loans through QuickBooks Capital.” Read more

UK to make online retailers pay e-waste recycling costs “…implementation of the deposit return scheme for drinks containers and extended producer responsibility for packaging that will end the nation’s throwaway culture and stop the avalanche of rubbish…These packaging reforms will collectively support 21,000 jobs…” Press release

Walmart plans to transform home category, double sales by 2030 at Talk Business. “Senior Vice President Creighton Kiper…took over leadership of the expansive home division in August and spoke in Bentonville on Nov. 21 to a group of suppliers…“I remind my team that when you sell a KitchenAid stand mixer you are also selling the opportunity for a grandmother to pass down a recipe to her granddaughter. Or when you sell a foam mattress, think about how it’s not just a place to sleep, but also where a dad tells bedtime stories to his son or daughter,” Kiper said.” Read more

Canada Post strike hits day 26 as union sends new proposals at Financial Post

Amazon pilots quick-commerce service in India at TechCrunch. “…will see the U.S. tech giant delivering grocery and other items in 15 minutes or less. The firm is the sixth major entrant in India’s quick-commerce market…Amazon said it is initially piloting the service in Bengaluru.” Read more

Lord & Taylor to be relaunched as online discount luxury retailer at ABC News. “Instead of operating its own stores, Regal Brands reportedly aims to position Lord & Taylor products in high-end retailers such as Saks Fifth Avenue and Nordstrom.” Read more

Amazon opens new AI lab in San Francisco Read more

This Christmas, Give Your Loved One a Box of Unopened Mail. What Could Go Wrong? at WSJ. “The mystery-box phenomenon is a child of the pandemic. In early 2021, Rebecca Dallaman and Jena Butler were looking for a new venture after Covid halted their commercial cleaning business…Dallaman and Butler have sold more than 90,000 boxes—each containing at least six packages—built social-media accounts with more than a million followers combined…” WSJ subs.

***Advertise your product, service or event in Eye on Retail Tipsheet to get in front of the most powerful retail decision-makers in the world. Contact: jlong@eyeonretail.net

Cyber Monday US spending breaches $13 bln as steep discounts online drive sales at Reuters. “Consumers spent 7.3% more compared to Cyber Monday in 2023. That follows the roughly $10.8 billion Americans spent online on Black Friday this year, according to Adobe, which keeps track of devices that use its software to help power more than 1 trillion visits to U.S. retail sites.” Read more

Porch Pirates Steal So Many Packages That Now You Can Get Insurance at WSJ. “PorchPals, a subscription-based startup that launches nationwide on Monday, says it will cover the cost of your stolen packages. It costs $120 a year and covers up to $2,000 of deliveries, or up to three claims a year…PorchPals had only been in California, but is now available across the country. Once a credit or debit card is linked to an account, all deliveries paid for with that card, including groceries and takeout, are covered.” WSJ subs.

Walmart Completes Acquisition of VIZIO Press release

Amid Gen Z’s love of cheaper, lab-grown diamonds, a natural diamond giant slashes prices at Fortune/Yahoo. “De Beers…has slashed its prices by 10% to 15%, Bloomberg reported…It’s the first substantial price cut since the start of the year and a large cut historically…Apparently, De Beers had tried offering customers more flexibility rather than lowering prices until it had no other choice.” Read more

Amazon’s Black Friday Week And Cyber Monday Deal Event Was Its Biggest Thanksgiving Holiday Shopping Event Ever Press release

Shoppers Fight Back as Retailers Crack Down on Returns at WSJ. “Priya Rednam-Waldo, a therapist and life coach, said she stopped shopping online at Saks Fifth Avenue and Neiman Marcus after they added restrictions. In April, Saks began charging $9.95 for returns by mail, while Neiman charges a similar fee for clearance items and those returned after 15 days.” WSJ subs.

***A message from Su Salsa: Lime flavored chips are too lime-y – put the lime in the dip, not the chip. Su Salsa Mild hits with a hint of lime and cilantro with a kick of jalapeno to finish. All-natural, blended and smooth for easy pour. And the label that pops on shelf.  Learn more | Sample: info@eyeonretail.net

AI will power your holiday shopping this year at St. Louis Post Dispatch. “Adobe said 70% of 5,000 surveyed who used AI for shopping believe it enhances their experience. Coveo found that 39% of Generation Z and 44% of millennials surveyed said they would use a virtual assistant like ChatGPT for help buying gifts online.” Read more

US Black Friday spending in stores and online rose 3.4% year-over-year, data show at Reuters. “Sales at brick-and-mortar stores grew just 0.7% year-over-year, according to preliminary estimates by payments processor Mastercard, and were lower according to data firm Facteus…Yet U.S. e-commerce sales increased by a hefty 14.6% online, according to Mastercard SpendingPulse…” Read more | Mastercard press release

Whole Foods Chases Shoppers With Minimarket Concept at WSJ. “Whole Foods said its first Daily Shop in Manhattan has exceeded sales projections every week since opening. The grocer, which operates more than 500 locations nationwide, has four more Daily Shop stores in New York City and will bring the format to Washington, D.C., in mid-2025, a spokesperson said.” WSJ subs.

TikTok influencer Marlena Velez arrested for second theft at same Target at NY Post

Can AI chatbots make your holiday shopping easier? at AP. “Perplexity AI’s new shopping feature allows users to enter search queries such as “best phone case” and to receive answers derived from various sources, including Amazon and other retailers, such as Best Buy. Perplexity also invited retailers to share data about their products and said those that do would have an increased chance of having their items recommended to shoppers.” Read more

Shoppers hunt for deals, but Dollar General and Dollar Tree aren’t reaping the benefits at CNBC. “Dollar General has acknowledged stiffer competition. “The guys in Bentonville…took a little bit larger piece” of the retailer’s middle-income customers, Vasos said…” Read more

***Advertise your product, service or event in Eye on Retail Tipsheet to get in front of the most powerful retail decision-makers in the world. Contact: jlong@eyeonretail.net

BJ’s Wholesale Q3 comp club sales (ex-gas) +3.8% “Digitally enabled comparable sales growth was 30.0%…reaches milestone of 7.5 million members…effective January 1, 2025. The Club membership fee will increase by $5 to $60 a year. The Club+ membership fee will increase by $10 to $120 a year.” Press release

Target’s recent trade imports data tells the real story behind massive earnings miss at CNBC. “…the trade data shows it still brought in way too much in dollar value. According to customs data aggregated by Panjiva, Walmart imported 25,000 shipments from May 31-Aug. 31, valued at $1.3 billion. During the same time frame, Target imported 40,000 shipments, valued at $2.5 billion.” Read more

…Target Q3 comp sales +0.3% Press release

EBay Billionaire Jeff Skoll Is Buying a Compound Outside Washington, D.C. at WSJ. “Skoll is paying $17 million for a compound in McLean, Va., to be closer to the Washington, D.C., stadium where the Capitals play. “I decided it would be great to have a home in the area so I could be there more often,” said Skoll, 59, who lives primarily in Florida.” WSJ subs. / Pics

Home sales surged in October, just before mortgage rates jumped at CNBC. “Sales of previously owned homes last month rose 3.4% from September to a seasonally adjusted, annualized rate of 3.96 million units, according to the National Association of Realtors. Sales were 2.9% higher than October of last year, marking the first annual increase in over three years.” Read more

***Sensi named a “Best Smart Thermostat of 2024” by CNET. CNET recently named the Sensi Touch 2 to its list of “Best Smart Thermostats of 2024,” noting its simple and intuitive display, which allows you to make changes easily. Website | Contact: info@eyeonretail.net

Williams-Sonoma CEO explains pricing strategy after earnings beat at CNBC. “CEO Laura Alber: ‘When we price the goods the first time, we want you to say, ‘wow, that’s a great price, and how gorgeous is that product?’” she said. “And that’s the focus we’ve had since the pandemic, is to continue to pull back on this up/down promotional pricing that so many of our competitors run.'” Read more/Video

…Williams-Sonoma Q3 comp brand revenue -2.9% Press release

‘No evidence of foul play’ after teen Walmart worker’s charred remains found in walk-in oven: police at NY Post

Costco rewards unexpecting golfer after hole-in-one with Kirkland Signature ball at Golf Digest. “A lot of golf companies offer something complimentary if you make a hole-in-one with their equipment, so I decided to email the CEO lol!” the Redditor explained. “Was not expecting a reply and was surprised to get a response and get forwarded over to the SVP who got my details and sent some KS balls and a note! Gotta love Costco!” Read more

Kroger Chief People Officer Tim Massa Inducted as a Fellow of the National Academy of Human Resources Press release

Sheetz is slashing gas prices by 40 cents a gallon at CNN. “Effective immediately, the price of its Unleaded 88 is being reduced by 40 cents per gallon. The deal lasts until the end of November and is available at 505 Sheetz locations that sell that type of gas.” Read more

TJX Companies, Inc. Q3 comp sales +3.0% Press release

Costco Korea in Hot Pursuit of Homeplus, Aiming for 2nd Place in the Retail Industry at Business Korea. “The sales gap between Homeplus and Costco Korea, which was a staggering 2.7772 trillion won in 2020, has narrowed to 400 billion won this year as Costco Korea has achieved an average annual growth rate close to 10%. During the same period, Homeplus has experienced an average annual growth rate of -1.2%.” Read more

Deloitte Unveils 2024 North America Technology Fast 500 Rankings List

***Advertise your product, service or event in Eye on Retail Tipsheet to get in front of the most powerful retail decision-makers in the world. Contact: jlong@eyeonretail.net | 314-504-3026