Amazon +1300 Acres | APR+1% = -9% | Dick’s Layoffs

 

McCormick buys Unilever’s food business in deal that values it at nearly $45 billion at CNBC. “The deal will…expand (McCormick’s) portfolio further into spreads and condiments. It already owns Frank’s RedHot and Cholula hot sauces. For Unilever, divesting much of its food business allows the company to focus on its personal care segment, which is growing faster.” Read more

 

Nordstrom’s $6.25 billion deal to go private is paying off—and don’t expect an IPO anytime soon at Fortune. “When asked if the family would take Nordstrom public again, Pete Nordstrom says flatly, “I doubt it.” Though, he quickly adds, “never say never.” The fundamental question, Pete says, is “to what end?” Fortune subs.

 

Fresh Food Distributors Add Surcharges as Fuel Costs Rise at NY Times. “Salmon caught off the southern tip of Chile, for example, are first taken to Puerto Montt and then sent on trucks to Santiago. From there, they are flown to Miami and delivered on trucks to restaurants and grocery stores all over the country. The wholesale price of salmon has risen to $6.48 a pound from $6.25 in February.” NY Times subs.

 

J.Jill, Inc. Q4 comp sales decreased by 4.8% Press release

 

Sources: Dick’s Sporting Goods Has Kicked Off Layoffs at Foot Locker at Footwear News

 

How Successful Retailers Prosper in Tough Times at HBR. “We have observed a consistent pattern: Companies often experience a five-year lag in recognizing when to stop expanding. With so many variables affecting revenue, it is easy to assume that a long-successful strategy remains effective indefinitely.” Read more

 

CVS Health to open nearly 20 pharmacy-only locations this year Press release

 

Credit card APRs have an ‘economically meaningful’ impact on consumer spending, Boston Fed finds at CNBC. “On average, a 1 percentage point increase in the annual percentage rate, or APR, on a credit card leads to a roughly 9% drop in credit card spending the following month — which is an “economically meaningful response,” the researchers found.” Read more

 

Amazon has purchased 1,300 acres of undeveloped land on the Oregon side of the Columbia River that could one day become a massive computing campus with up to 20 data center buildings at GeekWire

 

Stitch Fix is targeting people mid-transition, from GLP-1 users to newly divorced men at Glossy. “About 80% of the items in a man’s closet were purchased by someone else,” said Baer. “When that changes, they often don’t have the capability or the history to shop for themselves.” Read more

 

Allbirds is selling for $39 million. It raised nearly 10 times that amount in its IPO. TechCrunch

 

Jordan’s Furniture will be on the hook for $50 million if the Connecticut men’s and women’s basketball teams win their first games of the Final Four at USA Today

 

Quinnipiac AI poll: More than three-quarters don’t trust AI TechCrunch