Tipsheet: Albertsons +12.3% | Ex-Target @ Dollar Shave | Amazon Fresh +2 Seattle
Albertsons Q3 ID sales +12.3% “Net income was $123.7 million during the third quarter of fiscal 2020 compared to $54.8 million during the third quarter of fiscal 2019.” Press release
Walmart teams up with investment firm behind Robinhood on new fintech startup at Fox Business. “Walmart is teaming up with Ribbit Capital, a venture capital firm behind the no-fee investment platform Robinhood, on a new fintech startup designed to develop and offer “modern, innovative and affordable financial solutions” to the retailer’s employees and customers.” Read more
Dollar Shave Club Appoints Ex-Target Digital Exec as CEO “The Board of Directors of Dollar Shave Club, today announced the appointment of Jason Goldberger as Chief Executive Officer of the company effective Jan. 19, 2021.” Press release
Rite Aid CEO said retailers will get tapped sooner than expected to help speed vaccine rollout at CNBC. “Rite Aid has given more than 5,000 Covid vaccinations so far and it’s seen those challenges firsthand, (CEO) Donigan said. “If you open up a bottle and you only get one person who wants a dose that day, you’ve got to figure out what to do with the rest of the vial,” she said.” Read more
Checkout.com raises $450 million and reaches $15 billion valuation at TechCrunch. “Checkout.com wants to build a one-stop shop for all things related to payments, such as accepting transactions, processing them and detecting fraud. It focuses on large merchants…It finished 2020 with 940 employees. And this year, the company plans to hire an additional 700 people.” Read more
Former Zulily execs raise $150M for new firm that buys and supercharges e-commerce businesses at GeekWire. “They’ve also won over some big-time backers, including VersionOne Ventures and Victory Park Capital. Seattle venture capital firm Maveron — known for its focus on consumer brands and an early investor in Zulily — also is a backer.” Read more
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Two Amazon Fresh grocery stores opening in Seattle region at GeekWire. “One is located on Jackson Street in Seattle’s Central District and the other is in the Factoria neighborhood of Bellevue, Wash…The stores are designed to be similar to a traditional full-service grocery store but with some added technology, including smart grocery carts…There are four Amazon Fresh stores open in the Los Angeles region, and one in the Chicago area.” Read more
Millennials double wealth to more than $10T despite pandemic, debt: Federal Reserve at Fox Business. Read more
Britain’s Tesco to deny store entry to customers not wearing face covering at Reuters. “Tesco, Britain’s biggest retailer, on Tuesday followed smaller rivals Sainsbury’s and Morrisons, saying it will not let anyone into its stores who is not wearing a face covering, unless they are medically exempt.” Read more
Tilly’s holiday period comp sales +2.7% Press release
Cybersecurity Insurance Has a Big Problem at Harvard Business Review. “With around 250 companies buying at least $200 million in protection, it would only take five insured losses of a bit more than that amount to wipe out an entire year’s premium. That’s only 2% of the companies in the market buying that much coverage. That kind of loss would likely take decades for insurers to earn back such losses.” Read more
Sneaker enthusiast group SoleSavy raises $2M, setting the stage for a community-driven commerce boom at TechCrunch. “SoleSavy’s co-founders Dejan Pralica and Justin Dusanj founded the company in 2018 as a paid community for collectors and enthusiasts seeking pairs that were getting snapped up by bots or resellers.” Read more
Home Depot #9 radio advertiser last week at Inside Radio. Read more
Ubiquiti: Change Your Password, Enable 2FA at Krebs on Security. “Ubiquiti, a major vendor of cloud-enabled Internet of Things (IoT) devices such as routers, network video recorders, security cameras and access control systems…says an incident at a third-party cloud provider may have exposed customer account information and credentials used to remotely manage Ubiquiti gear.” Read more
Tipsheet Extra
Schnuck Markets names fresh division leader
NYC’s iconic Halloween shop to close permanently after nearly 40 years
Developers eye downtown Bentonville for latest Hilton hotel brand
Carrie Underwood signs equity deal with sports drink maker Bodyarmor
Casey’s expands private brand assortment this month
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