Tipsheet: Amazon’s Letter to Biden | Homeowners Stay Put | A. Eagle Miss
Walmart CEO and others support federal minimum wage hike at Fox Business. “While McMillon says that $7.25 an hour is too low, he stopped short of commenting on the $15 level…Read more
American Eagle sees holiday-quarter sales dropping low-single digits amid weak mall traffic at CNBC. “American Eagle ahead of a virtual meeting with investors Thursday said it expects fourth-quarter revenue to decrease in the low-single digits…That comes in lower than analysts’ estimates, which were for a 0.14% dip, according to data from Refinitiv.” Read more
Read the full letter Amazon sent to Biden offering to help with Covid-19 vaccines at GeekWire. “Amazon says it is ready to turn its facilities into COVID-19 vaccination sites and is offering other resources to the U.S. government.” Read more
Belk’s top lenders looking to avoid taking department store through bankruptcy: WSJ at CNBC. “KKR and Blackstone are hoping to convert a portion of Belk’s $2.6 billion debt into equity, possibly through an out-of-court deal that would allow Sycamore to retain an ownership stake, the Journal said. KKR is “reluctant” to take Belk through an in-court bankruptcy process because of the high fees associated with filing, the report said.” Read more
Curtsy, a clothing resale app, has raised $11 million in Series A funding for its startup at TechCrunch. Read more
Amazon sues EU antitrust regulators for letting Italian case go ahead at Reuters. “Amazon is suing EU antitrust regulators for allowing the Italian competition watchdog to pursue its own case against the U.S. online retail giant over the way it selects sellers, arguing that this should be wrapped into an EU investigation.” Read more
Walgreens top marketer Vineet Mehra is leaving for undisclosed Silicon Valley job Ad Age subs.
Walmart and Western Union Enter Agreement to Offer Western Union Money Transfers at Walmart “The services will include domestic and international money transfers, bill payments and money orders. Services will be offered at more than 4,700 Walmart stores with a rollout planned to begin in the spring of 2021.” Press release
‘We’re not Neiman Marcus’: Hudson’s Bay says it plans to be around for another 350 years despite recent troubles at Financial Post. Read more
Housing market stays tight as homeowners stay put at Fox Business. “The typical homeowner in 2020 had remained in place for 13 years, up slightly from 12.8 years in 2019 and well ahead of 2010’s reading of 8.7 years, according to a new analysis by real-estate brokerage Redfin Corp.” Read more
U.S. housing starts, building permits accelerate at Reuters. “Housing starts jumped 5.8% to a seasonally adjusted annual rate of 1.669 million units last month, the Commerce Department said on Thursday. Economists polled by Reuters had forecast starts would rise to a rate of 1.560 million units in December.” Read more
Starbucks, Microsoft, Costco to help Washington’s vaccine distribution at Fox Business. Read more
Walmart’s ‘Made in the USA’ claims under fire again at NY Post. ““The truth is consumers can’t be certain any of these products meet the FTC’s definition of ‘made’ in the USA … because of how Walmart is attempting to redefine the legal standard,” TINA.org said…It is the third such complaint TINA.org has lodged against Walmart.” Read more
Inside Walmart’s Quest to Become the Go-To Retailer for Pickup and Delivery Adweek subs.
It’s 53% alcohol and tastes like fire. Here’s how this liquor brand took over China at CNN. “When Costco opened its first store in China in 2019, it wasn’t just the hot rotisserie chickens and discounted Birkin bags that lured frenzied crowds. A fiery, throat-tingling liquor called Kweichow Moutai also flew off shelves (at 1,498 yuan, or $209 for a half-liter bottle)…” Read more
Tipsheet Extra
Interview with Ravi Jariwala, Senior Director, Public Relations at Walmart eCommerce
Trader Joe’s makes chips from its Everything Bagel seasoning
Did shutting down outdoor dining contribute to California’s COVID-19 surge?
Oxygen thefts mount as Mexico reports record coronavirus deaths
Walmart associate writes book about her 25-year journey with the big box retail chain
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