Costco +6.7% | Coach +13% | Kohl’s CEO Search
Costco April comp sales (ex. fuel & f/x) +6.7%: US +7.1% / Canada +5% / Other Int’l +6.5% / Ecom +13% “April had one less shopping day versus last year, due to the calendar shift of Easter. This negatively impacted total and comparable sales by approximately one and one-half to two percent.” Press release
Warby Parker Q1 net revenue +12% “On track to open 45 new stores, including five shop-in-shops at select Target locations slated to open in the second half of the year.” Press release
Kohl’s Forms Committee to Find New Head After CEO’s Ouster at Bloomberg. “Michael Bender, who served as the company’s board chair, has been tapped as interim CEO. On Thursday, Kohl’s announced that John Schlifske, the former CEO of Northwestern Mutual Life Insurance Co., would replace Bender as chair…New details have emerged about Buchanan’s alleged conduct in previous roles, including when he was an executive at Walmart Inc.” Bloomberg subs.
Ingles Markets Q2 net sales -2.7% Press release
Amazon unveils its first warehouse robot with a sense of touch at GeekWire
Maersk warns global container volumes could drop at Reuters. “Maersk said on Thursday container volumes plunged 30-40% between the U.S. in China in April…and warned a protracted dispute could shrink global volumes this year. However, the Danish group stuck to its full-year profit guidance, helped by continued disruption on the Red Sea trade route that has pushed up freight rates.” Read more
Tapestry, Inc. Q3 revenue +7%; Fueled by Coach Brand Growth of 13% Press release
The Bubble Blasters and Other Chinese Goods That Are Paralyzed by Trade Chaos at WSJ. “Dou Guowei, a 30-year-old Chinese consultant…said many of his clients that sell cheap or custom-made goods are simply instructing shipping companies to “get rid” of goods on the voyage to the U.S. after their American customers said they didn’t want them anymore. “Whether the goods were dumped into the sea or the sailors repossessed them, that I don’t know,” Dou said.” WSJ subs.
US Foods Q1 net sales +4.5% Press release
Shippers Are Skeptical of Trump’s Truce With the Houthis at WSJ. “It will take some time before the southern Red Sea is safe, and we are working on it,” the (Pentagon) official said…Traffic through the Red Sea is down by 60%. Carriers have switched to longer and more expensive routes around the Cape of Good Hope. Analysts say it could take months to restore shippers’ confidence.” WSJ subs.
Target CEO acknowledges silence from leadership has created uncertainty among workers Star Tribune subs.
Hudson’s Bay has received ‘several’ bids, but none from insiders, court documents show at Financial Post
Pandora CEO Says US Jewelry Production ‘Simply Won’t Work’ at Bloomberg/Yahoo. “Pandora currently makes 95% of its jewelry in Thailand…was forced to raise prices twice over the past year to offset the impact from higher silver prices. If Trump implements the global tariffs when the 90-day pause ends, the Danish jeweler may raise prices further, Lacik said.” Read more
Missourians could soon pay with gold & silver after lawmakers approve odd bill at The Kansas City Star
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