Bezos Home +$63M | S. Walton Close-Up | Koshco
Albertsons Companies, Inc. Q4 identical sales increased 2.3% Press release
Jeff Bezos sells Seattle mansion amid move to Florida — for $63 million at NY Post. “This deal eclipses the state’s prior record…Nestled along Lake Washington’s shores, Bezos bought the 9,420-square-foot Hunts Point residence in 2019 for $37.5 million.” Read more/Pics
Lowe’s acquires Artisan Design Group (ADG) for $1.325 billion “ADG is a leading nationwide provider of design, distribution and installation services for interior surface finishes, including flooring, cabinets and countertops, to national, regional and local homebuilders and property managers…fiscal 2024 revenue of approximately $1.8 billion (and) a national network of over 3,200 specialized installers…” Press release
Sam’s Club announces plans to remodel all 600 locations, open 15 stores per year at USA Today. “…will open two new clubs this fiscal year in…Tempe, Arizona and Lebanon, Tennessee…” Read more
Jewel sues Kroger over Wellness Festival; departed CEO Rodney McMullen to be deposed at Local 12. “Jewel and another co-founder of Kroger Co.’s annual Wellness Festival are suing the supermarket giant, claiming the company unjustly took control of the event away from them just as it turned profitable.” Read more
“Koshco” is a California store touted as a “dupe” for Costco at NY Post. “…this cut-price storefront boasts a similar color scheme of red, blue and white, and also sells a variety of items in bulk. Koshco is entirely kosher and located in the Pico-Robertson neighborhood of Los Angeles, which has long boasted a large Jewish community.” Read more
Meet Walmart heir Steuart Walton, the most powerful board member you’ve never heard of at Yahoo Finance. “For someone born to billions, and the grandchild of one of the most famous businesspeople of all time, Walton keeps a low profile. Sure, he married actress Kelly Rohrbach. But he’s no publicity magnet like other wealthy offspring. His profile in the press is minimal. His public appearances are often biking in nature, a passion of Walton’s, in Bentonville’s town square or being seen with his family at the farmer’s market.” Read more
At China’s largest trade fair, exporters say US markets are ‘frozen’ at Reuters. “Kobe Huang, sales representative at Shenzhen Landun Environmental Technology, which makes water filters and smart toilets, says that for now, European sales are up, but the U.S. market is “frozen.” U.S. customers and distributors haven’t cancelled orders, he said. “They have asked us to hold on. We are holding on.” Read more
Consumers reduce spending on spring fashion at Talk Business. “…consumers polled by McKinsey & Company indicate they plan to spend less on discretionary categories like clothes and shoes over the next three months. Only 14% said they intend to spend more on apparel this spring.” Read more
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