Tipsheet: Amazon Wins WM Shoppers | Harlem Target | Amazon Accelerate
Amazon Wins Loyal Walmart Shoppers as Americans Stampede Online at Bloomberg. “Walmart Inc. shoppers are a pretty loyal bunch. But when virus-spooked Americans began avoiding stores earlier this year and shifting spending online, far more Walmart customers went to Amazon.com Inc. than Walmart.com…In the first week of February, for every dollar shoppers spent with the two rivals, 66 cents went to Walmart and 34 cents to Amazon, according to Facteus, which tracks credit and debit-card spending for millions of shoppers. In the first week of August, that gap narrowed to 55 cents to Walmart and 45 cents to Amazon.” Tiered subs.
Grocery workers say morale is at an all-time low: ‘They don’t even treat us like humans anymore’ at The Washingston Post via San Francisco Chronicle. “In the last month, we’ve lost our hazard pay, and people are quitting every day,” said Manners, 43, who processes vendor deliveries at a Meijer store in northern Kentucky. “Those of us who are left are really stretched thin – working so much harder for $11.50 an hour.” Read more
US consumer prices rose 0.6% in July, matching June uptick at AP. Read more
Amazon to hold virtual seller conference as lawmakers examine its power over third-party merchants at CNBC. “Amazon is hosting a virtual conference for third-party sellers from Sept. 1 through 3, called Amazon Accelerate. The three-day event will give third-party sellers tips on how to grow their businesses and features a keynote address from Jeff Wilke, CEO of Amazon’s retail division.” Read more
Stein files for chapter 11 bankruptcy – will close most, if not all, of its stores at MarketWatch. Read more
Sycamore Partners’ bid for bankrupt JCPenney opposed by workers’ group at NY Post. “A group of current and former retail workers from Toys ‘R’ Us, Kmart, Sears and other bankrupt retailers are sounding the alarm about the Big Apple-based private equity firm’s plans…” Read more
Walmart teams up with Instacart to rival Amazon for same-day grocery delivery at The Verge. “Walmart customers in four pilot markets spanning California and Oklahoma can now choose Walmart’s grocery options when putting together an Instacart order.” Read more
Amazon plans $400M Detroit distribution center at site abandoned for a decade at Fox Business. Read more
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Walmart’s chief health, wellness officer exits the company at Talk Business. “Sean Slovenski, SVP of health and wellness at Walmart U.S., is exiting the company after just two years…Furner said in the memo Slovenski’s departure has been in the works for the past several weeks. He gave no date nor reason for the departure. Furner said a health, wellness officer will be named in the coming weeks.” Read more
Women publish novel loosely based on their experiences working at Neiman Marcus and other luxury retailers by Maria Halkias at Dallas Morning News. Read more
Amazon’s ruthless business model meets Sweden’s labor unions at Politico. “The Swedish labor market is regulated by collective agreements between companies and unions, giving workers plenty of power over corporate decisions. Approximately 70 percent of Swedish workers belong to a union.” Read more
Vertical farming company Plenty will provide 430 Albertsons grocery stores in California with four types of greens at CNBC. Read more
Kroger launching online marketplace with 50,000 more products for customers at WLWT 5. “The marketplace will offer 50,000 more products from third-party sellers through software program Mirakl.” Read more
Amazon reveals ‘confidential’ podcast plan in mass email at GeekWire. “Then came the real mess. Podcasters who clicked through to submit their shows discovered this clause in the content license agreement that’s a requirement to participate in the program: “Your Content may not (a) include advertising or messages that disparage or are directed against Amazon or any Service…” Read more
US mall owner Simon says still looking to salvage other distressed retailers at CNBC. “Simon said Monday it collected roughly 73% of its rents from retailers in July, with about 91% of its tenants back open for business today amidst the coronavirus pandemic.” Read more
Amazon has amassed at least 1 million subscribers for its Prime loyalty program in India at TechCrunch. “This is the first time Amazon has even vaguely disclosed how many of its users in India have signed up for the Prime subscription that costs $13.30 a year in the country (compared to $119 in the U.S.).” Read more
Retail Chains Abandon Manhattan: ‘It’s Unsustainable’ at DNYUZ. “For four months, the Victoria’s Secret flagship store at Herald Square in Manhattan has been closed and not paying its $937,000 monthly rent. “It will be years before retail has even a chance of returning to New York City in its pre-Covid form,” the retailer’s parent company recently told its landlord in a legal document.” Read more
Lowe’s: Over the next 18 months, Lowe’s plans to open 50 cross dock delivery terminals, seven bulk distribution centers and four e-commerce fulfillment centers Press release
Dick’s expected to post strong Q2 report on exercise-at-home surge at Seeking Alpha. “We anticipate 2Q20 results will be much stronger than Street expectations particularly due to increased demand for high-ticket (albeit low-margin) hardlines product (e.g., bikes, exercise/golf/fishing equipment)…writes analyst Sam Poser.” Read more
Foot Locker Q2 comp sales +18% Press release
Harlem development boom to bring new Target to 125th Street at NY Post. “The ever-growing Target brand will be part of an ambitious new 17-story project between Malcolm X and Adam Clayton Powell boulevards named the Urban League Empowerment Center. The mini-tower designed by Beyer Blinder Belle will house a new headquarters for the venerable nonprofit dedicated to advocacy and economic empowerment for African Americans.” Read more
For the third time, Hy-Vee has pushed back the opening of Twin Cities store at Star Tribune. “Hy-Vee also has no updates on the timelines for other planned Twin Cities area stores…Hy-Vee has added 12 stores in the Twin Cities since 2015. When the St. Peter location opens next week, the grocery chain will have 274 stores in eight states.” Read more
Amazon Project Zero launches in seven new countries “Launched in 2019, Project Zero builds on Amazon’s long-standing work and investments to ensure that customers always receive authentic goods when shopping on Amazon.” Press release
Publix Named United Way’s No. 1 Global Corporate Leader Press release
Brooks Brothers poised to be acquired by Authentic Brands-Simon venture at Fox Business. “That “stalking horse” offer includes a commitment to keep 125 Brooks Brothers stores open. The retailer has roughly 200 stores in North America. The Sparc offer had been subject to better bids, but the deadline for rival offers passed last week.” Read more
Tipsheet Extra
Parents slam Hasbro over Trolls doll that has a hidden button between its legs
Apple goes after meal-prep company over its ‘similar’ logo
Aldi plans to launch Amazon Go-style cashierless stores
Instacart Adds Federal Affairs Firepower
Lidl takes the win in NRF/Kantar Hot 100 Retailers list
Costco adds corporate capacity with Barnes & Noble purchase
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