Archive for category: Eye-on-Retail

 

US Cyber Monday sales hit record $12.4 billion on big discounts at Reuters. “Online consumer spending jumped 9.6% on Monday from the $11.3 billion seen last year, outstripping Adobe’s initial expectations for a 6.1% rise to $12 billion…A record $940 million worth of purchases were made through BNPL (Buy Now, Pay Later) on Cyber Monday, surging 42.5% from last year and trouncing Adobe’s earlier estimate for an 18.8% jump.” Read more

 

Amazon touts ‘record-breaking’ sales in kickoff to holiday shopping season at CNBC. “The company said the period from Nov. 17 to Cyber Monday marked its “biggest ever” holiday shopping event compared to the same 11-day stretch last year. Amazon, which did not disclose actual sales figures, added that shoppers worldwide bought more than 1 billion items during the period.” Read more

 

Black Friday online sales reach record level, according to Adobe Analytics at Fox. “…climbed 7.5% from the total that Black Friday online shoppers forked over in 2022, according to Adobe Analytics.” Read more

 

Amazon.com has grabbed the crown of biggest delivery business in the U.S., surpassing both UPS and FedEx in parcel volumes at WSJ. “There’s not a lot of perceived value in chest thumping on being the biggest,” said a former senior Amazon logistics executive about the milestone. Instead of a celebration marking the jump on the leaderboard, Amazon executives high-fived and got back to work, one recalled.” WSJ subs. 

 

Walmart’s Holiday ‘RomCommerce’ Aims to Make Shoppers Swoon at Adweek. “Add to Heart follows a young woman named Jessica working as an interior design assistant in New York as she navigates the usual romcom tropes…audiences can shop the outfits worn by the cast, the makeup the boss applies, and almost all the furnishings, ornaments and other holiday fare conspicuously placed around the generously spaced homes—with more than 330 products available to purchase through the retailer.” Read more 

 

Canada Goose execs take on sales associate jobs on Black Friday at Financial Post. “(President) Baker helped a family headed for an Alaskan cruise find coats and test them out in the store’s cold room, a -25 C space…“That’s one of the confirmations or leanings for me today: what an important role our cold room plays in the experience and them leaving knowing they bought the right jacket…” Baker said.” Read more

 

China’s Shein files for US IPO at Reuters. “Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the initial public offering, and Singapore-based Shein could launch its new share sale some time in 2024, the sources said.” Read more

 

We watched — and shopped — Amazon’s first Black Friday NFL broadcast at GeekWire. “For me, the QR codes made the commercial breaks a tad more compelling…However, it got cumbersome to continuously whip out my phone and try to scan the QR codes on my TV before the commercial ended. I also had the game streaming on my laptop. It would have been nice to be able to just click an ad or a button versus scanning a QR code with my phone pointed at the computer screen.” Read more/Pics

 

Amazon wants businesses to use its palm-scanning tech to let employees into the office at CNBC. “Companies already signed up for the biometric technology include IHG Hotels & Resorts, turnstile manufacturer Boon Edam, and Kone, an escalator and elevator provider. Amazon didn’t disclose pricing for the service, which is available in preview in the U.S. starting Monday.” Read more

 

Macy’s, Inc. Names Sharon Otterman Chief Marketing Officer “Most recently, Sharon served as CMO at Caesars Entertainment, where she launched Caesars Sportsbook, a new sports betting brand in the U.S…” Press release

 

Amazon’s iRobot purchase sucks up formal competition concerns in EU at TechCrunch

 

Mall of America had more Black Friday traffic this year than the year before pandemic at Minneapolis Star Tribune. “The country’s biggest mall saw 4% more visitors between Friday and Sunday than on Black Friday weekend 2019. The mall was not open as many hours, either.” Read more

 

Jeff Bezos is moving from Seattle to Miami—and he could take some of Amazon with him at Fortune. “Citing anonymous sources familiar with the matter, (Bloomberg) said Amazon was searching for 50,000 square feet of space.” Read more

 

Neighbors say these Bay Area ghost kitchens are out of control at San Francisco Chronicle. “I’ve seen drivers cuss out the police. They cuss us out. They threaten to fight us,” Koral said. “We are verbally assaulted on the daily and threatened with physical violence on the daily. … It gets scary.” Read more

 

Here is where millennials moved to the most in 2022 at The Hill
Cambridge, Massachusetts
Santa Clara, California
Seattle, Washington
Sunnyvale, California
Denver, Colorado
Arlington, Virginia
Bellevue, Washington
Killeen, Texas
Austin, Texas
Sandy Springs, Georgia

 

Walmart Q3 U.S. comp sales up 4.9% Press release

 

…Walmart’s caution on consumer spending ahead of holidays sends shares lower at Reuters. “Walmart’s CFO John David Rainey told Reuters the company saw shoppers slow down purchases in the second-half of October, and then pick up spending in the early part of November, on items including apparel and home goods, that have been out of favor for most of the year.” Read more

 

Bath & Body Works trims sales forecast as demand slows into holiday season at Reuters. “The retailer expects its 2023 net sales to fall by 2.5% to 4%, compared with its previous forecast for a decline of 1.5% to 3.5%.” Read more

 

Stores Are Finally Giving Shoppers a Break on Prices at WSJ. “The average price of food, beverage, beauty and other everyday items fell about 3% in the most recent quarter compared with the previous one, said Christina Hennington, Target’s chief growth officer earlier this week. The relief could spur more discretionary spending, she said, but the inflation over years in food, household essentials, pets and baby will “take a while to overcome.” WSJ subs. 

 

Q3 comp sales: Macy’s down 7.6% / Bloomingdale’s down 3.2% / Bluemercury up 2.5% Press release

 

…Macy’s puts up strong third quarter numbers, raises profit outlook and top end of full-year revenue at AP. “Overall sales fell 7% to $4.86 billion, with sales at traditional stores and online sales both down 7%. Still, that topped the $4.77 billion that analysts polled by Zacks Investment Research were calling for.” Read more

 

Williams-Sonoma, Inc Q3 comp brand revenue down 14.6% Press release

 

TJX Q3 overall comp store sales increased 6%, well above the Company’s plan / Comp store sales increased 7% at Marmaxx and increased 9% at HomeGoods Press release

 

Target CEO claims customers are saying ‘a big thank you’ for locking up merchandise at CNBC. “CNBC again asked Cornell to confirm that Target hasn’t seen a measurable drop in sales or traffic in those stores because of the inconvenience of having to wait for items. “Courtney, in many cases, it’s just the opposite. The fact that we’re in stock is what’s most important for the guests,” he said.” Read more

 

Walmart Claims Top Retailer Spot for 2023 Kantar PoweRanking for 27th Consecutive Year “Kroger and Target switched places to number two and number three respectively…Costco and Amazon traded places to number four and number five respectively while among the top ten, Publix and Meijer traded to number seven and number eight.” Press release

 

How Walmart became a fashion mecca for savvy style stars at Daily Mail. “Denise Incandela is a major force behind the change. She serves as the Executive Vice President of Apparel and Private Brands for Walmart U.S., and has a background in luxury, previously working with Moosejaw, Ralph Lauren and more.” Read more

 

Feds seize $1B in fake handbags and shoes from NYC storage unit in largest counterfeit bust in US history at NY Post

 

‘Everything’s Locked Up’: Shoppers Turn to Amazon as Big-Box Retailers Combat Theft at Bloomberg. “Like many shoppers, New Yorker Sarah Henry is accustomed to retailers locking up products to thwart thieves. But when she saw a Manhattan CVS had put Oreos behind glass, she took a photo to document the insanity…Henry has taken to ordering groceries and medication online from Stop & Shop Supermarket and Amazon.com.” Bloomberg subs. 

 

Shoe Carnival Q3 comp store sales down 7.4%  Press release

 

Amazon brings its home robot to businesses at TechCrunch. “Astro for Business isn’t exactly cheap, though, starting at $2,349.99…” Read more

 

Shopping Crate & Barrel’s new virtual store feels like playing a video game at Fast Company. “…is the first time that Obsess has painstakingly replicated the interior of a physical store, from the texture of the walls to the exact proportions of the window. “We spend a lot of time working on the interiors of our stores,” says Brauer. “So it was important to us that the virtual store be as close as possible to the real thing.” Read more

 

Alibaba shelves cloud spinoff, citing U.S. chip restrictions at CNBC

 

Google will make fake AI products to help you find real gifts at The Verge. “Google’s AI-powered Search Generative Experience (SGE) is behind a bunch of new shopping features that aim to help users find niche or otherwise unique products for a friend or themselves. These include using AI to generate gift ideas or fashion items you can then shop for. Google is also expanding virtual try-ons to men ahead of the holiday season.” Read more

 

Loblaw, Metro point the finger at suppliers as food inflation persists at Financial Post

 

Tim Cook, Elon Musk, Steve Schwarzman spotted at Xi Jinping dinner with U.S. CEOs at CNBC

 

Amazon says Project Kuiper satellites ace orbital tests — including online sale at GeekWire. “Amazon is far behind SpaceX’s rival Starlink satellite network, which already has more than 2 million subscribers. But Project Kuiper aims to take advantage of synergies with Amazon’s other business lines, ranging from online retail sales to Amazon Prime Video and Amazon Web Services.” Read more

 

 

 

Canadian Tire laying off 3% of corporate staff at CBC “…cites ‘softening consumer demand’ for decision to scale back…Canadian Tire comparable store sales fell by 0.6 per cent. SportChek sales were down by 7.4 per cent. Sales at Mark’s eked out an increase of 0.2 per cent.” Read more

 

Amazon to Expand Grocery Delivery, Resume Supermarket Openings at Bloomberg. “(Claire Peters) said the company plans to resume opening new Fresh stores in 2024, after a pause of more than a year. Amazon also has redesigned five locations, including three in the Los Angeles area that wrapped up renovations recently. “We will have a good pipeline for next year,” Peters said. “What we won’t do is open stores aimlessly.” Read more

 

Pharmacy walkout organizers help launch national push to unionize pharmacists, technicians at CNBC. “The push to unionize, dubbed “The Pharmacy Guild,” also calls for legislative and regulatory change to establish higher standards of practice in pharmacies to protect patients…the vast majority of pharmacists and technicians from Walgreens and CVS have no union representation…” Read more

 

Global fashion brands say to raise purchase prices for Bangladesh-made clothes at Reuters. “Global fashion retailers including H&M and Gap are committed to raising purchase prices for Bangladesh-made clothing to help factories there offset higher workers’ wages…This week, after deadly protests between police and factory workers, the government mandated an almost 60% raise to the minimum monthly wage to 12,500 taka ($113) from December, the first increase in five years.” Read more

 

Loblaw says Canada’s ‘code of conduct’ could cost consumers more than $1 billion at Bloomberg. “If in the end, Loblaw and/or Walmart Canada decide not to sign on to the code, Graydon said another route may be necessary to address the sector’s issues. “I think we will need to have some very interesting conversations with a number of governments around regulation,” he said.” Read more

 

Amazon beefs up Prime loyalty program with One Medical discount at CNBC. “Amazon is integrating One Medical into its Prime membership service after acquiring the primary health-care provider in July 2022 for roughly $3.9 billion. One Medical operates a network of boutique primary-care practices in some parts of the U.S., primarily around major cities.” Read more | WSJ subs. 

 

Former British prime minister Boris Johnson compares Bentonville to heaven at NWA Online. “Boris Johnson, former prime minister of the United Kingdom, told a Bentonville crowd Wednesday he has a more “firm view of the afterlife” from attending the Heartland Summit there, comparing the town to “heaven, absolute heaven” after bicycling along trails there earlier that day.” Read more

 

Casey’s Expands to Texas at WFAA. “Casey’s General Stores, Inc., which claims to be the third largest convenience retailer in the United States, announced that it plans to purchase 22 convenience stores in Texas and open some Casey’s in their place.” Read more

 

Amazon makes job cuts in music division at GeekWire

 

Dillard’s Q3 comp store sales decrease 6% “The Company noted a challenging sales environment during the quarter with particular weakness beginning in September. Cosmetics was the strongest performing category followed by home and furniture. Juniors’ and children’s apparel was the weakest category.” Press release

 

At Home Chairman and CEO Lee Bird to retire after 11 years with company Press release

 

More Executives Vanish in China, Casting Chill Over Business Climate at WSJ. “The chief executive at livestreaming company DouYu and the chairman of a pharmaceutical business are the latest to go missing.” WSJ subs. 

 

Kohl’s Announces Board Leadership Transition – Ex-Home Depot Exec Adolfo Villagomez Appointed to Board Press release

 

Former Wegmans employee sentenced for stealing $500,000+ through fraudulent refunds at WHAM. “Prosecutors said she used the Enterprise System between 2014 and February 2023 to process approximately 350 credit card refund requests worth a total of $568,021.69 in customers’ names.” Read more

 

Jeff Bezos’ new home ‘Billionaire Bunker’ island outside Miami has a rich history ‒ literally at USA Today. Read more

 

US Foods Q3 net sales increased 2.1% to $9.1 billion Press release

 

Your New Co-Worker Is a Total Drill Sergeant. Literally. at WSJ.”Businesses’ interest in a Pentagon program that connects service members to companies grew so intense over the summer that the Department of Defense temporarily stopped taking applications from companies to join the ranks of private-sector partners. The SkillBridge program, as it’s known, had 150 participating employers in 2019. Today there are more than 3,800—including Bank of America, Lowe’s and Deloitte—and applications recently reopened, following a review of how to handle the staggering demand.” WSJ subs.

 

Target CEO says shoppers are pulling back, even on groceries at CNBC. “In an interview with CNBC’s Becky Quick that aired Thursday morning, he emphasized that the retailer has posted seven consecutive quarters of declining sales of discretionary items, such as apparel and toys, in terms of both dollars and units. “But even in food and beverage categories, over the last few quarters, the units, the number of items they’re buying, has been declining,” he said in the interview.” Read more/6:59 video

 

…Cornell’s full interview with CNBC will air later Thursday as part of CNBC Evolve

 

Lawmakers say Costco’s decision to continue selling banned China surveillance tech is ‘puzzling’ at TechCrunch. “The bipartisan letter dated October 31, sent by Rep. Christopher Smith (R-NJ, 4th) and Sen. Jeff Merkley (D-OR), said Costco’s continued sale of Lorex products is “all the more puzzling,” given several of its retail rivals have long discontinued selling the technology citing human rights and ethical sourcing concerns.” Read more

 

…Lawmakers Press Costco on China Forced Labor at WSJ. “The Federal Communications Commission last year banned the sale of new products made by Dahua, citing national security concerns. The lawmakers said Dahua’s products are used in the “noxious” surveillance of minority groups in Xinjiang. Though Dahua sold Lorex to Taiwanese company Skywatch last year, Lorex continues to source components from Dahua, they said, adding that retailers Best Buy, Home Depot and Lowe’s have discontinued the sale of Lorex products.” WSJ subs. 

 

Publix Q3 comp store sales increased 4.3% Press release

 

Home Depot made hundreds of skeletons before perfecting its 12-foot star, Skelly at Polygon. “Originally, when we sat down, we started throwing out 10 feet. And it was like, ‘Nah, that just doesn’t seem tall enough,’” (Home Depot Sr. Merchant) Allen told Polygon via video chat. “‘Everybody knows how tall a basketball hoop is.’ And then it’s like, ‘Hey, let’s make it 12 feet. Let’s think of two 6-foot guys standing on top of each other, where they could be looking down at a basketball hoop. That seems like an impactful height.’” Read more

 

ACSI study: Amazon and Chewy Headline Retailer Satisfaction Retailers ranked/Press release

 

Fate of Canada’s first grocery code of conduct in doubt with 2 big players on the fence at Financial Post. “We have ongoing concerns that the code, as currently drafted, will increase food prices for Canadians and impact grocers’ ability to have the right products on store shelves to meet customers’ demands,” Loblaw spokesperson Catherine Thomas said…Wal-Mart Canada Corp. had similar worries.” Read more

 

Online Mattress Shoppers More Satisfied with Purchase Than In-Store Shoppers, J.D. Power Finds Press release

 

Why Home Depot is evolving its media strategy, starting with branded content at Ad Age. “As consumers are packing up their pumpkins, retail brands have already begun to deck their halls with holiday goods as the fight for seasonal shoppers creeps continually earlier each year. But more than just unleashing yuletide stock into stores, some retailers are taking an active role in spreading holiday cheer through shoppable content on connected TV.” Ad Age subs. 

 

CVS Health Q3 revenue +10.6% Press release

 

Shein Turns to Western Executives to Become Even More Global at WSJ. “Beyond adding global expertise that could help Shein tackle compliance and image challenges, the effort to bring on board more diverse leadership could also help boost investors’ confidence ahead of a potential U.S. stock listing.” WSJ subs.

 

The Buckle October comp store net sales decreased 11.9% Press release

 

Amazon unveils buy now, pay later option from Affirm for small business owners at CNBC. “The service, with loans ranging from $100 to $20,000, will be available to all eligible customers by Black Friday, or Nov. 24. It is specifically for sole proprietors, or small businesses owned by a single person.” Read more

 

I visited one of Ikea’s new mini ‘plan and order’ stores, and it felt like a tiny version of Home Depot at Business Insider. Pics/Read more

 

Spirit Halloween lives on, even when the holiday ends and stores close at CNBC. “The Halloween chain is also nearly fully vertical, with Spirit Halloween handling all the “sourcing, design and manufacturing” itself, CEO Steven Silverstein said Monday on CNBC’s “The Exchange.” “Spirit has become such a phenomenon that no other market can keep up with it,” Silverstein said.” Read more

 

Walgreens Boots Alliance Names Neal Sample EVP & CIO Press release