Amazon Unit Morale Down | Oakland Merchants Strike | S. Fix -22%
Amazon Develops Version of Cashierless Tech for Clothing Stores by Matt Day at Bloomberg. “Amazon has quietly piloted its RFID-enabled Just Walk Out technology at fan shops at two Seattle sports arenas: Lumen Field, home of the National Football League’s Seahawks, and Climate Pledge Arena, of the National Hockey League’s Kraken. Amazon Chief Executive Officer Andy Jassy is a minority owner of the hockey team.” Read more
AutoZone 4th Quarter Domestic Same Store Sales Increase 1.7% Press release
….AutoZone Announces Organizational Changes “Tom Newbern…has been promoted to Chief Operating Officer…Jamere Jackson…has been promoted as Chief Financial Officer (CFO)…positioning Tom and Jamere as equivalents and the senior most leaders of (CEO-elects) leadership team.” Press release
Instacart Prices IPO at $30 a Share, at Top End of Expectations at Wall Street Journal. “At that price, the grocery-delivery company…would be valued at $9.9 billion on a fully diluted basis. The pricing sets the stage for the San Francisco-based company to start trading Tuesday on the Nasdaq exchange under the symbol CART.” WSJ subs.
Mastercard: U.S. Retail Sales Expected to Grow 3.7% This Holiday Season Press release
Amazon devices unit morale wanes amid cuts, weak development pipeline by Greg Bensinger at Reuters. “Reuters interviewed more than 15 current and former employees, who spoke on the condition of anonymity…The news agency was able to identify five different new devices under development. These include a carbon monoxide detector and a household energy consumption monitor – both with Alexa built into them – as well as a home projector to make any surface a screen.” Read more
Stitch Fix Q4 net revenue down 22% year-over-year Press release
Texas hunters attract premier outdoor retailer Sitka to Dallas by Maria Halkias at Dallas Morning News. “Bozeman-based Sitka, a premier brand of outdoor gear and apparel owned by Gore-Tex, has picked Dallas to open its second store. The 3,026-square-foot store is open just south of Knox Street on McKinney Avenue.” Read more
Olive oil prices surge over 100% to record highs, sparking cooking oil thefts at CNBC. “Mintec’s Holland cautioned that if stocks of olive oil continue to be depleted by the drought, supplies could be exhausted before October, where the fresh harvests usually arrive.” Read more
Amazon Considering New Subscription Programs in Grocery, Healthcare at PYMNTS. “The company is also considering integrating One Medical’s primary care service with Amazon’s Prime subscription program, according to the report…One Medical, which is owned by Amazon, is a national hybrid in-office and virtual primary care organization. Amazon acquired One Medical in July 2022, saying that it aims to reinvent healthcare.” Read more
OOPS – San Francisco gets $17 million to fight retail theft, Oakland misses grant deadline at Fox KTVU. “Oakland said it was in the process of hiring a person responsible for managing grants across all city departments. “I think it’s a disgrace that they didn’t,” said Piedmont Grocery manager Luis Hernandez in Oakland. “This fencing, we had to put it up just to keep them from getting our liquor which was a big, big problem.” Read more
…Oakland merchants plan to strike SF Chronicle subs.
Pringles just unveiled a $140 collab with The Caviar Co. at CNBC. “Unlike a regular tube of Pringles, which retails for less than $3 at most stores, the Pringles x Caviar collab is going to cost you quite a bit more. Customers will have three options to choose from, priced at $49, $110 and $140, respectively.” Read more
A Mother’s Love—a Bargain at $450 a Year, Plus Applicable Fees at Wall Street Journal. “A young client called Horwitz on a recent night in a panic. He needed a sport coat for early the next morning. Target was the only store open but nothing there fit his 6-foot-3 frame. With Horwitz’s help, the student walked into his presentation wearing a coat borrowed from one of her sons.” WSJ subs.