Best Buy Q2 enterprise comp sales +5.8% / Domestic online comp +242% Press release
…Best Buy’s Growth Crimped by Product Shortages at Wall Street Journal “The stronger-than-anticipated demand as we opened our stores for shopping resulted in more constrained product availability than we expected,” Chief Executive Corie Barry said…Best Buy shares fell 5% in early Tuesday trading. The shares had doubled from their March lows and were trading near all-time highs heading into the earnings release.” WSJ subs.
S&P CoreLogic Case-Shiller: US home prices rise 3.5% in June at AP. “…down from May’s 3.6% increase and slightly below economists’ expectations. Phoenix led the way with a 9% increase followed by Seattle (up 6.5%) and Tampa (up 5.9%). But prices rose at all 19 cities measured in June.” Read more
LVMH, Tiffany delay $16.2B deal deadline to 11/24/20 at MarketWatch. Read more
Retail Landlords Offer Pandemic Clauses in New Leases at Wall Street Journal. “Because many insurance policies didn’t cover pandemic-related losses, landlords have offered various concessions to attract and retain tenants, including allowing them to defer part of their rent if another shutdown is ordered.” WSJ subs.
Amazon is rolling out a new AR shopping tool, Room Decorator, that will allow you to see furniture and other home decor in their own space at TechCrunch. “While the retailer had experimented with AR tools in the past, what makes Room Decorator different is that it’s capable of virtually adding multiple products to the room at the same time.” Read more
**A message from Comfy Sacks bean bag chairs – Comfy Sacks premium bean bag sales have spiked as consumers look for comfort at home. Filled with superior quality furniture grade foam. Offer your consumer something truly unique & comfortable. Booklet | Video | Website | Request sample bag: email@example.com
CVS is readying the launch of a new ad network at Digiday. “They’re saying they can do it all,” said a media buyer with knowledge of the CVS pitch, adding that it goes beyond the usual media placements. “They’re layering on creative services, saying they can help you with creative and strategy. They’ve even got a full dynamic creative offering. That’s not something you typically see out the gate. [When you see that] it’s usually a more sophisticated offering.” Read more
Amazon Go’s cashierless tech may come to Whole Foods as soon as next year at The Verge. “The New York Post’s source claims the rollout of the new technology into Whole Foods is one of two final projects that Jeff Wilke, CEO of Amazon’s worldwide consumer division, is focusing on before he retires early next year.” Read more
Walmart Hosts First-Ever Free Online Wellness Event with Resources on Nutritional, Heart and Mental Health Press release
Bezos’ AmazonSmile facing claims of excluding conservative nonprofits at Fox Business. “Amazon uses the controversial Southern Poverty Law Center to decide who gets to participate. The center has routinely put conservative groups on its “hate watch list” and defines some conservative nonprofits like the Alliance Defending Freedom and Family Research Council as “hate groups.” Read more
Tiffany & Co. Unveils Plans for a Contemporary Glass Addition Atop Its Classic Fifth Avenue Flagship Store Press release
Home Depot was the #4 radio advertiser last week, AutoZone #5 at Radio Ink. Read more
America’s Best Employers by State 2020 at Forbes. Read more
Tech company says it has established “the nation’s first dense ‘face-pay’ network”
Kind is the first food brand to commit to buying ‘bee-friendly’ almonds
Phoenix to pay $475K to family after officer pointed a gun at them in shoplifting case
Sotheby’s changes beat with first hip-hop auction
Toys R Us partners with Amazon on its relaunched website
Eye on Retail Tipsheet is must-read material for retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.
Subscribe to Eye on Retail Tipsheet here
Contact us: Put your product or service in front of the most powerful retail execs in the world, send advertising inquiries to firstname.lastname@example.org