Amazon Scooped Up Data From Its Own Sellers to Launch Competing Products at Wall Street Journal. “We knew we shouldn’t,” said one former employee who accessed the data and described a pattern of using it to launch and benefit Amazon products. “But at the same time, we are making Amazon branded products, and we want them to sell.” WSJ subs.
Instacart is adding 250,000 more shoppers at TechCrunch. Read more
J.C. Penney in Advanced Talks for Bankruptcy Financing at Wall Street Journal. “Penney is in discussions with existing lenders including Wells Fargo & Co., Bank of America Corp. and JPMorgan Chase & Co. for a so-called debtor-in-possession loan that would keep the department-store chain’s operations funded during a court-supervised bankruptcy, according to people familiar with the matter. The loan package could total roughly $800 million to $1 billion, with some of that money potentially including existing debt.” WSJ subs.
Grainger Q1 sales +7.2% Press release
Target will extend its $2 an hour temporary wage increase until May 30 “(Target) will also continue to extend access to free, safe and reliable back-up care for team members, and a 30-day paid leave for team members who are 65 or older, pregnant or who have underlying medical conditions as defined by the CDC, through the end of May.” Press release
Walmart releases 2020 Annual Report
Patagonia Starts Selling Online Again After Unusual Decision To Pause Its E-Commerce Due To Pandemic at Forbes. “I haven’t heard of anybody else [in the outdoor apparel space] who has shut down e-commerce,” says Christopher Svezia, an analyst at Wedbush Securities who covers the consumer sector.” Read more
**A message from Home & Outdoor cookware – Quality cookware for the cabin, camping, and the great outdoors. 3X stain and scratch resistance. Retail ready packaging. Sales deck | Samples: email@example.com
Orders to U.S. factories for big-ticket manufactured goods plunged 14.4% in March, a worse-than-expected performance at AP. Read more
Amazon begins selling items from neighborhood stores in India amid Facebook’s deal with Jio at TechCrunch. “Amazon said it piloted the “Local Shops on Amazon” program six months ago and has already on-boarded 5,000 local shops and retails from over 100 cities across India.” Read more
Walmart and Nextdoor launch new program “This support network makes it easier for vulnerable community members to coordinate the pickup and delivery of their groceries, medications and other essentials with a neighbor who is already planning a shopping trip to their local Walmart store – completely contact-free.” Press release
Amazon’s white-collar workers are starting to stand up for their blue-collar colleagues at Recode. “Several of Amazon’s corporate employees are urging thousands of their colleagues to defy their employer by taking this Friday off work en masse to instead gather virtually and discuss how to push for more rights for the company’s warehouse workers during the Covid-19 pandemic.” Read more
Grocers Hunt for Meat as Coronavirus Hobbles Beef and Pork Plants at Wall Street Journal. “I have not seen beef sales and all protein behave this way since the Atkins Diet days,” when shoppers bought up meat as part of the low-carb diet, said Jeff Lyons, senior vice president of fresh food for Costco. The warehouse chain is considering new suppliers to shore up its meat supplies, he said.” WSJ subs.
…Meat inventories are likely to become tight within two weeks..and temporary shortages are possible, said Pat LaFrieda, chief executive of his namesake meat wholesaler, based in New Jersey.
…Meatpacking union says 25% of US pork production hit by coronavirus closures at CNBC. “The union, which represents 80% of beef and pork production workers, said that 13 packing and food processing workers have died after contracting Covid-19 and 5,000 meatpacking workers have tested positive or been exposed.” Read more
Neiman Marcus threatens Hudson Yards Mall at Daily Beat. Read more
Reimagining stores for retail’s next normal at McKinsey & Company. “…if online penetration increases by ten percentage points and gross margin falls by one percentage point, driven by increased pricing pressure, retailers could expect store profitability to decline by up to five percentage points.” Read more
Here’s why you can’t find frozen french fries
Big-box chains could benefit more from stimulus checks than small businesses
Alaska Native group sues Neiman Marcus over coat’s design
German supermarket chain Rewe on lookout for M&A targets
House Lawmakers Introduce Bill to Support C-store & Grocery Workers
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