Tipsheet: Brooks Nears Bankruptcy | Lysol Effective @ Covid | WM/Target Drop Redskins

 

Brooks Brothers nears bankruptcy as talks heat up with potential buyer at Fox Business. “Private equity firm Solitaire Partners is in talks with the haberdasher to make a bid once a possible Chapter 11 bankruptcy filing has been made, according to people close to the matter.” Read more

 

U.S. government’s boxed food aid promise falls short at Reuters. “We’re getting about 60% of what we were told we would get,” said Brian Greene, CEO of the Houston Food Bank, in an email. “Some of it was vendors couldn’t do what they said they would do.” Read more

 

Shoppers across the country are retreating again as coronavirus cases surge at CNBC. “Of the 38 states with traffic falling again, only eight of those are requiring masks statewide, Field said. Of the 13 on the rise, 11 require the general public to wear masks, he said. The biggest growth in retail traffic is happening in states including New Jersey, Maryland, Massachusetts, Rhode Island and New York, according to ShopperTrak data.” Read more

 

Retailers Turn to Personal Shoppers, Sidewalks to Win Back Business at Wall Street Journal. “Some—like Alice and Olivia LLC, a women’s designer clothing store with five locations in the city—are offering personalized shopping experiences, including allowing longtime customers to take home clothing to try on if they are uncomfortable with in-store dressing rooms.” WSJ subs.

 

Walmart and Target drop Washington Redskins merchandise from online stores at Yahoo. “Meanwhile, literally every member of the Washington ownership group that isn’t a direct relative of Snyder is reportedly trying to sell their stake in the team and citing Snyder’s leadership as a major reason why.” Read more

 

Amazon stock hits $3,000 for the first time at GeekWire. “Amazon’s soaring share price has increased CEO Jeff Bezos’ net worth to more than $172 billion…” Read more

 

**A message from Gusto kitchenware. Created for young enthusiasts looking for quality, color and affordability. From the #1 cookware brand in Mexico. Program details | Retailers request samples: info@eyeonretail.net

 

Uber launches grocery delivery in Latin America, Canada with U.S. to follow at Reuters. “A launch in U.S. cities is expected later in July, beginning with regional merchants in Miami and Dallas, an Uber spokeswoman said.” Read more

 

11th Circuit won’t reinstate $775k jury verdict for deaf Costco worker at Reuters. “An 11th U.S. Circuit Court of Appeals panel in a 2-1 decision said plaintiff Christine D’Onofrio failed to show that Costco violated the Americans with Disabilities Act (ADA) by denying any specific accommodations, and faulted her for refusing to use a video-interpreting system installed by the company.” Read more

 

EPA names Lysol useful in fighting COVID-19 at The Hill. “The EPA announced its approval Monday of Lysol Disinfectant Spray and Lysol Disinfectant Max Cover Mist as two cleaners that are effective in warding off coronavirus infections given proper use. The study on both disinfectant products was conducted in a clinical setting. These two products are the first to be directly tested against COVID-19 viral particles.” Read more

 

Tipsheet Extra

Inside the luxury nuclear bunker protecting the mega-rich from the apocalypse

AI 50: America’s most promising artificial intelligence companies

How a liquor store manager broke news of Patrick Mahomes’ record-setting contract

The recession will scar Gen Z. And it could be even worse for black youth

Shake Shack says it lost $3.2 million in sales due to protests and curfews

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Tipsheet: Amazon Groc. Expands | WM Medicare Agency | Prime Day 10/5ish

 

Amazon reportedly postponing Prime Day until October at CNBC. “The email advises sellers to use the week of Oct. 5 as a “placeholder date” for Prime Day promotions and coupons, but cautions that “exact Prime Day dates have not been announced.” Read more

 

White House teases executive orders on China, immigration and prescription drugs at Politico. “The interesting thing is this president will do more in the next four weeks than Joe Biden and his team did in the last 40 years,” (Mark Meadows) claimed. “So you just need to stay tuned.” Read more

 

Sam’s Club CEO Kath McLay joins Yahoo Finance’s Julia La Roche at Yahoo Money. 4:17 video

 

The Pandemic Is Rewriting the Rules of Retail at Harvard Business Review. “For several years now, some retailers have been putting as much if not more priority on the in-store experience than on the products they sell…As a result of Covid-19…(retailers) have to give people a reason to visit that is so compelling, it justifies their exposure to health risks and overcomes the inertia of the behaviors they adopted during the shutdown.” Read more

 

Uber agrees to buy food-delivery service Postmates for $2.65 billion in stock at CNBC. Read more

 

Amazon Go Grocery stores slated for Seattle area and Washington D.C. at CNBC. “Traditional grocery stores are also in the works in California and Illinois, according to The Seattle Times…The conventional stores will be in North Hollywood and three suburbs of Chicago. An Amazon spokesperson confirmed the stores in California, Illinois, and D.C. to GeekWire.” Read more

 

**A message from Comfy Sacks bean bag chairs – Consumers spending more time at home demand comfort! Sales on premium bean bags filled with superior quality furniture foam continue to rise sharply. Booklet | Video | Website | Request sample bag: info@eyeonretail.net

 

As Black buying power grows, racial profiling by retailers remains persistent problem at CNBC. “Nearly 30% of Black Americans said they were treated unfairly because of their race when shopping in the past 30 days, according to the 2018 Gallup poll.” Read more

 

Walmart to open Medicare insurance agency in the Dallas market at Talk Business. “…the retailer plans to have the agents working the first week of August. In the employment ads, Walmart says it now “has an insurance agency.” The focus of hiring is for Medicare insurance agents and call center representatives, who according to the job listing will work remotely for Walmart Insurance Services LLC, a subsidiary of Walmart Apollo LLC.” Read more

 

NYC grocers struggle to hire while workers bank on unemployment claims at NY Post. “Morton Williams, which operates 16 stores in the New York metro area, was slammed with 400 claims at the height of the pandemic in March and April…Through June, claims have risen to about 600 — or about half the workers on the payroll, he said. What’s more, during that time Sloan said Morton Williams has laid off only three people as grocery demand went through the roof. Yet by the end of May, more than 160 ex-staffers were drawing weekly benefits OK’d by the state, he said.” Read more

 

Sears exploring sale of home improvement business at CNBC. “Transformco, the owner of the Sears and Kmart retail chains, could raise at least $1 billion by divesting the home improvement business, the sources said. Sears has tapped investment bankers at Guggenheim Securities LLC to explore selling the business, the sources said.” Read more

 

Stores focus on cleaning to get shoppers back to spending at AP. “Shopping was something I really enjoyed. I like to look at clothes and jewelry. It was almost like therapy,” said Hope Kaplan, a 62-year-old publicist who is now only willing to go to the dentist and CVS because she’s worried about the coronavirus, especially with cases rising in her home of Tucson, Arizona.” Read more

 

Early Covid-19 tracking apps easy prey for hackers at Politico. “In the Qatar Covid-19 app, researchers found a vulnerability that would’ve let hackers obtain more than a million people’s national ID numbers and health status. In India’s app, a researcher discovered a security gap that allowed him to determine who was sick in individual homes.” Read more

 

Tipsheet Extra

Krebs: E-Verify’s “SSN Lock” is Nothing of the Sort

Costco Is Getting An Exclusive 2020 Corvette

Man that jumped into aquarium at Bass Pro Shops arrested

This coronavirus-killing MIT robot could end up in your local supermarket

Why personality tests could derail your future goals

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Tipsheet: H.Depot Bans Some Rope | Kroger Covid Kit | WM Drive Ins

 

US adds 4.8 million jobs as unemployment falls to 11.1% at AP. Read more

 

Home Depot bans some rope sales after nooses were found tied on store spools at USA Today. “Rob Ball urgently needed some rope. A vegetable farmer in eastern Jefferson County, Ball had 300 tomato plants that needed stringing…So Ball paid a visit to his local Home Depot, where he hoped to buy several hundred feet of the store’s quarter-inch twisted nylon rope. To his dismay, a Home Depot salesman informed Ball of a new store policy: Customers can no longer buy rope by the foot.” Read more

 

‘Talk less and do more’: Lowe’s CEO Marvin Ellison says corporate leaders must step up diversity efforts at CNBC. “When he arrived at Lowe’s, the company had only eight Black employees at the vice president level or higher — a number he was determined to increase. “I didn’t need social unrest as a CEO for me to understand it was an issue,” he said. He said Lowe’s now has two Black executive vice presidents, two Black senior vice presidents and 11 Black vice presidents.” Read more

 

Kroger gets emergency use approval for at-home Covid test kit at Cincinnati Enquirer. “The kit, which Howard said may eventually be sold direct to consumers, allows users to collect their own nasal swab samples for testing under the supervision of a licensed healthcare professional through a video chat.” Read more

 

Belk confirms layoffs related to COVID at its corporate headquarters in Charlotte at Charlotte Observer. “The company refused to disclose the total number of people who are losing their jobs. Belk has about 1,300 employees at the corporate office at 2801 W. Tyvola Road.” Read more

 

Neela Montgomery leaves Crate and Barrel – successor will be announced shortly Press release

 

Walmart Launches Virtual Summer Camp and Drive-In Movie Theater “Walmart is transforming 160 of its store parking lots into contact-free drive-in movie theaters…” Press release

 

Who Is the Mystery Shopper Leaving Behind Thousands of Online Shopping Carts? at Wall Street Journal. “It is more than a nuisance. John Smith’s activity skews analytics that online merchants use to advertise and make other critical business decisions. The shopper also uses a bunch of bogus email addresses, and sellers get warned by their internet service providers for sending follow-up pitches to phantom customers…” WSJ subs.

 

Coty names former L’Oreal executive Sue Nabi as its CEO at Reuters. Read more

 

National coin shortage has retailers pleading for exact change at NY Post. “Some Lowe’s stores have posted signs urging shoppers to pay with exact change or use other forms of payment, as have convenience stores such as 7-Eleven, Pilot and Circle K…Meijer (is) banning cash payments in its self-checkout lanes until the shortage ends.” Read more

 

Tipsheet Extra

Kanye West wants to make Yeezy shoes, clothes in Wyoming

Target intros own brand bedding, bath products

‘Beavis and Butt-Head’ returning with two new seasons (and spinoffs)

Amazon shipping snafu sends order of seven small items in seven separate boxes

We are throwing away a record 53.6 million metric tons of electronics

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Tipsheet: H.Depot Retakes Radio | Wgreen “Cooper” Stores | Ellison Iview Today

 

Walgreens says new small-format store personalizes care, could help in ‘pharmacy deserts’ at CNBC. “It has opened more than 30 small-format pharmacies as part of a pilot, and it may open additional ones depending on how the stores perform. Inside of the company, the project was dubbed “Cooper” — a reference to the Mini Cooper, a small BMW car with a cult following.” Read more

 

Macy’s reports $3.58 billion quarterly loss as COVID-19 hits business at Reuters. Read more

 

Instacart sues Seattle over law requiring premium pay to drivers during the pandemic at GeekWire. “The legislation prohibits grocery delivery companies from passing on premium pay costs to customers. It also forbids the platforms from reducing worker compensation or service areas within the city.” Read more

 

Newsweek: America’s Best Customer Service 2020 – Publix #9 Top ten

 

Mall owner CBL says in forbearance over skipped interest payment at CNBC. “The Chattanooga, Tennessee-based real estate company, which owns 108 properties primarily in the Southeast, has been working with advisors Weil, Gotshal & Manges and Moelis & Co. to explore alternatives, which could entail a reorganization of the company.” Read more

 

FedEx says coronavirus shopping helped offset commercial slowdown at Fox Business. “FedEx said its 20 percent bump in revenue for its ground unit was the result of an increase in online shopping…FedEx’s core express delivery fell 10 percent…” Read more

 

**A message from Gusto kitchenware. Designed for young enthusiasts looking for quality, color and affordability. From the #1 cookware brand in Mexico. Program details | Retailers request samples: info@eyeonretail.net

 

Hear from Lowe’s Marvin Ellison today at 11 a.m. ET during NRF Retail Leadership Series Read more

 

Home Depot back at #1 in radio spots (Lowe’s #4, eBay #9) at Radio Ink. Read more

 

Walmart hires 265,000 veterans, promotes more than 44,000 to higher-paying roles at Fox News. “We’re forever grateful to our veterans for their service, and it’s an honor to offer them opportunities at Walmart,” said Walmart President and CEO Doug McMillon in a statement.” Read more

 

Amazon marks Pride and Stonewall anniversary with colorful lighting of Spheres in Seattle at GeekWire. Read more

 

General Mills beats estimates on virus-led stockpiling at Reuters. “Sales at its North America retail segment, which accounts for more than half of the company’s sales, increased 36%, after having fallen in seven of the last eight quarters.” Read more

 

The COVID-19 pandemic has made it harder for banks to trace the source of payment card data stolen from smaller, hacked online merchants at Krebs on Security. “Gemini Advisory has seen over 50 percent decrease in demand for compromised card present data since the mandated COVID-19 quarantines in the United States as well as the majority of the world,” he told KrebsOnSecurity.” Read more

 

Remember Brandless, the Amazon alternative that crashed and burned? It’s back! at Fast Company. Read more

 

Tipsheet Extra

South Koreans hail the return of Kellogg’s green onion-flavored cereal

Albertsons Ends Social Media Advertisements

50% of in-store supermarket shoppers in the past 30 days also ordered groceries online

Man shot, killed at Amazon fulfillment center in Florida; 2 others shot

Mercedes-Benz to end luxury subscription service

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Tipsheet: WM DC Shooting | Amazon Germany Strike | Home Sales +44.3%

 

Gunman kills one employee at Walmart distribution center before police fatally shoot him at CNN. “The shooter drove through and around the parking lot four times before crashing his vehicle into the lobby area of the building, the Sheriff’s Office said. When he hit the building and the car caught on fire, he then exited the vehicle and began shooting randomly into the building and through the parking lot area.” Read more

 

US pending home sales bounce back 44.3% in May at AP. Read more

 

Albertsons CEO says grocery operator’s IPO is ‘a great accomplishment’ amid coronavirus pandemic at CNBC. “Right now, we’re focused are creating more value through the assets that we have and we have a great set of assets,” (CEO Vivek Sankaran) said. “We have plenty of headroom there. But we’re always eyes open. When the right opportunities come by, we will do it.” Read more

 

Amazon warehouse workers in Germany will strike Monday because of coronavirus infections at The Verge. “Labor union Verdi says “at least 30 to 40 colleagues were infected” with the virus, according to Reuters. The strike will last 48 hours and be conducted with the motto “good and healthy work.” Read more

 

Walmart to reopen Chicago stores damaged by looting by Crain’s Chicago Business. “We have reflected on recent events and decided we want to stay,” said President and CEO Doug McMillon in a blog post on the retailer’s site. “And not just stay, but expand our investment.” Read more

 

**A message from Comfy Sacks bean bag chairs – Consumers want to be comfy at home! Sales on premium bean bags filled with superior quality furniture foam continue to rise sharply. Booklet | Video | Website | Request sample bag: info@eyeonretail.net

 

Starbucks is the latest company to pause advertising across social media platforms at CNBC. “Starbucks is the latest company to say it will pause advertising on “all social media platforms” and promises to have discussions internally and with media partners and civil rights organizations to stop the spread of hate speech.” Read more

 

CANADA – New NAFTA raises duty-free limits for private couriers, but not Canada Post at Financial Post. “We are just mystified that the government would be setting consumers up for that surprise,” said Andrea Stairs, president of eBay Canada and chief marketing officer for eBay North America.” Read more

 

Amazon eliminates single-use plastic in packaging in India at TechCrunch. “Flipkart, which had made a similar pledge last year, said last month that its reliance on single-use plastic across its supply chain had dropped by 50%.” Read more

 

Dollar General is cheap, popular and spreading across America. It’s also a robbery magnet, police say at CNN. “Every night I was just waiting for there to be a phone call that said, ‘Hey we’ve lost somebody,'” Brian Flannery, who oversaw security at around 2,000 Dollar General stores in the northeast as a divisional loss prevention director from 2011 to 2015, said. “It wasn’t a matter there [of] if you were going to have a bad robbery. It was a matter of when.” Read more

 

The real cost of Amazon at Recode. “I feel like I’m risking my life for a dollar” — what the struggle Amazon workers face during the pandemic says about the future of work in America.” Read more

 

Amazon to pay $500 million in one-time bonuses to front-line workers at Reuters. “Employees and partners who have been with the e-commerce company through June will receive bonuses ranging from $150 to $3,000…” Read more

 

Tipsheet Extra

Fed Reveals Bond Purchases Including AT&T and Walmart

Tesla ranks dead last on J.D. Power’s automobile quality survey

Winn-Dixie not ditching ‘Dixie’

Activists set up guillotine in front of Jeff Bezos’s D.C. home

Plastic waste surges as restaurants use more disposable packaging

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Tipsheet: Gap Stock Soars | Macy’s Cuts 25% Corporate | Microsoft Closes All

 

U.S. consumer spending rebounds; income plunges at Reuters. “consumer spending…jumped 8.2% last month…Economists polled by Reuters had forecast consumer spending rising 9.0%…personal income dropped 4.2%, the most since January 2013, after surging by a record 10.8% in April…” Read more

 

Microsoft to permanently close all of its retail stores at The Verge. “Microsoft locations in NYC, London, Sydney, and Redmond will be turned into experience centers.” Read more

 

Texas rolls back its reopening at CNBC. “All bars and similar establishments that receive more than 51% of their gross receipts from the sale of alcoholic beverages are required to close at 12:00 pm Friday.” Read more

 

Albertsons pulls off a downsized IPO after years of trying at CNBC. “Albertsons said it sold shares in its IPO at $16 a piece, below its $18-$20 target range…The downsizing of the IPO came after heated discussions between the underwriters and Cerberus, which deliberated whether to walk away from the offering at the last minute, as it did in 2015, a source familiar with the deliberations said.” Read more

 

Kanye West and Gap team up to create line of Yeezy apparel at Fox Business. “Aimed at young shoppers, the Yeezy-Gap line, which will offer items such as hoodies, basics, T-shirts and joggers…Gap said Yeezy would receive royalties and potential equity based on sales results. Yeezy said the brand is valued at $2.9 billion…As a teen, West, 43, worked at a Gap store in the Chicago area.” Read more

 

…Gap stock soars at CNBC. “Shares were up by about 39% early Friday. The move added more than $1.4 billion to Gap’s market cap of $3.8 billion.” Read more

 

**A message from Comfy Sacks bean bag chairs – Consumers want to be comfy at home! Sales on premium bean bags filled with superior quality furniture foam continue to rise sharply. Booklet | Video | Website | Request sample bag: info@eyeonretail.net

 

Target adds fresh grocery pickup nationwide at USA Today. “…adding 750 fresh and frozen grocery items for in-store and Drive Up curbside pickup, including produce, dairy, bakery, meat and frozen products. Target says the expanded assortment will roll out to more than 400 stores in the Midwest by the end of June and more than 1,500 stores “in time for the holidays.” Read more

 

49% of Costco’s stores are located in states where coronavirus cases are spiking at CNBC. List of retailers impacted

 

Amazon acquisition of robotaxi startup Zoox would add self-driving cars to its growing robot army at GeekWire. “At a reported purchase price of $1 billion, the acquisition would rank among the largest in Amazon’s history, in the realm of what the company paid for Twitch, Ring and Zappos…” Read more

 

Rite Aid Q1 Revenues Increased 12.2 Percent Press release

 

Saks Fifth Avenue says shopping hasn’t dropped as coronavirus cases rise in Florida, Texas at CNBC. “On CNBC’s “Closing Bell,” Saks Fifth Avenue President Marc Metrick said shoppers are still going to stores to buy handbags, shoes and other items. “We’re still seeing the traffic there,” he said. “We talk to our store, our teams everyday and they’re telling us they’re really not feeling it or seeing it in traffic or even in the attitude and the sensibilities in how they’re shopping.” Read more

 

Amazon is renaming the Seattle NHL stadium Climate Pledge Arena at The Verge. “Climate Pledge Arena will be the world’s first net zero carbon-certified arena, Amazon says, and the venue will be powered with 100 percent renewable energy and generate zero waste from operations and events. In addition, it will use reclaimed rainwater to create the ice surface for hockey games.” Read more

 

Schnucks Invests in Local Produce and Goods at Progressive Grocer. “Schnuck has unveiled a plan to purchase more than $5 million of local produce and goods this year from farmers who live and work in the communities served by the St. Louis-based grocer. To that end, Schnucks has formed a partnership with logistics and marketing platform Foodshed.io…” Read more

 

Macy’s to slash 3,900 corporate jobs – about a fourth of Macy’s corporate workforce at CNBC. “The department store chain said it expects to save about $365 million through the layoffs in fiscal 2020. It said it will save roughly $630 million on an annualized basis.” Read more

 

Meijer to offer free support to blind and low vision customers “…partnering with the Aira app to increase accessibility and ease in their shopping trip…At the touch of a button (on a smartphone), Aira will connect customers who need immediate visual assistance with anything from reading in-store signage to product labels.” Press release

 

Tipsheet Extra

Venezuelans take extraordinary steps to beat water shortage

Amazon launches ‘Smart Stores’ in India to win mom and pop

L’Oreal to drop words such as ‘whitening’ from skin products

Amazon Alexa leader: COVID-19 has sparked ‘a huge increase in the use of voice in the home’

Postponed Seafood Expo North America now canceled

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Tipsheet: Lowe’s Names HR EVP | Etsy Stock +3X in 3Mo | Kroger Top 100 IT

 

Amazon forms ‘Counterfeit Crimes Unit,’ under pressure to escalate fight against fake products at GeekWire. “The new unit, announced Wednesday morning, brings together former federal prosecutors with investigators and data analysts. The group will allow Amazon to “more effectively pursue civil litigation against bad actors, work with brands in joint or independent investigations…” Read more

 

Flipkart adds support for three more local Indian languages at TechCrunch. “The Walmart-owned firm said its online marketplace now has interfaces in Tamil, Telugu, and Kannada, three languages that are spoken by roughly 200 million people in India.” Read more

 

Instagram expands access to Instagram Shopping to more businesses, including creators who want to sell their own merchandise at TechCrunch. Read more

 

Etsy’s stock jumps to record, tripling in three months on surge in face mask sales at CNBC. “RBC wrote in a report that it conducted a survey of buyers, and 82% of respondents said they expect to spend more on Etsy over the next 12 months. Goldman said its bullishness is a reflection of app downloads after an increase of more than 100% in June from a year earlier.” Read more

 

Kroger Technology & Digital Named to Computerworld’s Top 100 Best Places to Work in IT Press release

 

Amazon signs lease for biggest NYC delivery station at Fox Business. “The property Queens is 1 million square feet; the delivery station building will be 117,000 square feet, and the rest of the space will be used for parking, a spokesperson said.” Read more

 

**A message from SPS Commerce. Are you struggling with getting accurate, complete and timely item data from your vendors? SPS Commerce can help you painlessly collect the item data you need to plan, buy and sell products! Check out this video to learn how SPS can help.

 

Walmart stops displaying the Mississippi state flag in stores because of Confederate flag imagery at CNN. Read more

 

Lowe’s diversity VP to lead human resources at Bizwomen. “Lowe’s Companies, Inc. has appointed Janice Dupre Little executive vice president of human resources effective June 22. She had served in the role as an interim since the departure of Jennifer Weber, who resigned in April. Little was senior vice president of diversity and talent management for the company since 2017.” Read more

 

Amazon’s carbon footprint grew 15% in 2019, highlighting the challenge of net zero emissions at GeekWire. Read more

 

Costco stopped selling half-sheet cakes and shoppers are pretty upset at NBC Today. “One Facebook user posted that their daughter is a cake decorator at Costco…”She says they are considering not bringing back the half sheet cakes, ever…But another person claiming to be a Costco employee said it’s just a temporary move to help stores catch up during these busy times.” Read more

 

Tipsheet Extra

Gun store robberies alarm law enforcement officials

Amazon is reportedly considering adding live TV to its Prime Video service

Segway to quit making the two-wheeled scooter

‘Jurassic Park’ tops box office 27 years after movie’s original release

Realtor association stops using the word “master” to describe bedrooms or bathrooms

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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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Tipsheet: Amazon Ad Rev +23.5% | Square Withholding Money

 

Square, Jack Dorsey’s Pay Service, Is Withholding Money Merchants Say They Need at NY Times. “Thousands of small enterprises that use Square to process their credit card transactions…have complained that the company recently began holding back 20 to 30 percent of the money they collected from customers. The withholdings came with little warning, they said, and Square asserted the right to hang on to the money for the next four months. Square told them that it was doing this to protect against risky transactions or customers who demanded their money back.” Tiered subs.

 

Amazon pledges $2 billion venture capital fund to invest in clean energy at Reuters/WSJ. “The Climate Pledge Fund will invest in companies across industries such as transportation and logistics, energy, storage and utilization, manufacturing and materials, and food and agriculture, the e-commerce giant said.” Read more | WSJ subs.

 

Resale market expected to be valued at $64 billion in 5 years, as used clothing takes over closets at CNBC. “According to the report, secondhand goods are expected to make up 17% of a person’s share of closet space by 2029, up from just 3% in 2009.” Read more

 

Amazon’s Shakopee, MN warehouse has 88 COVID-19 cases at Star Tribune. Read more

 

**A message from Comfy Sacks bean bag chairs – Consumers want to be comfy at home! Sales on premium bean bags filled with superior quality furniture foam continue to rise sharply. Booklet | Video | Website | Request sample bag: info@eyeonretail.net

 

Saks Fifth Avenue swaps fencing for NYC-themed display windows ahead of Wednesday reopening at NY Post. “Shoppers will be encouraged to use the escalators, which are now alight with an iridescent glow of purple and green, thanks to the cleansing ultraviolet lights…upper management…have been charged with acting as the store’s “wellness team,” a job that entails walking the floors to ensure people are practicing social distancing and wearing masks.” Read more

 

eMarketer report: Amazon gains significant ground in digital ad market at Fast Company. “Google’s total market share (is down) 2.2% to 29.4%…Facebook’s…market share will increase to 23.4%…Amazon is emerging as a winner here, as its digital ad revenues shot up 23.5% this year to $12.75 billion, buoying its market share from 7.8% to 9.5%.” Read more

 

Property Owner Simon Sees Buying Tenants as a Way to Boost Malls at Wall Street Journal. “The biggest mall owner in the U.S. by number of malls is teaming up with Brookfield Property Partners, another large owner of shopping centers, in exploring a bid for J.C. Penney Co., according to a person familiar with the matter.” WSJ subs.

 

Ann Taylor parent to pay retention bonuses to top brass at Fox Business. “Ascena Retail Group Inc., the distressed parent company of Ann Taylor and Lane Bryant, plans to pay about $5.5 million in cash retention and incentive awards to three executives, becoming the latest struggling company to hand out bonuses to top management.” Read more

 

Neiman Marcus in talks with Facebook about leasing Hudson Yards space at NY Post. “Developer Related Companies is in talks with social media giant Facebook to take over the three floors Neiman Marcus now occupies at Hudson Yards, according to a WWD report. “Neiman wants out. Hudson Yards wants them out. They are figuring out an exit agreement,” a source told the publication.” Read more

 

Tipsheet Extra

Luxury fashion challenged to confront racist attitudes

Shell plans major restructuring around climate drive, CEO tells employees

Meet the summer’s sleeper hit product: A bag you pee into

Ford study says Americans would give up streaming, booze, sex over their pickup trucks

Nearly 20 percent of Earth’s seafloor is now mapped

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