Tipsheet: Bed Bath Beats | Rite Aid Front +1.5% | Seed Spree | WinCo Wins Pricing
Starbucks eyes store reopenings as coronavirus fight shows progress at Fox Business. “(CEO) Johnson said the coffeehouse chain has moved to a “monitor and adapt” phase of its response to the pandemic as federal and state authorities conduct discussions to restart the U.S. economy. Starbucks stores will ramp up operations on a case-by-case basis, according to local public health guidance.” Read more
Jeff Bezos: Widespread coronavirus testing needed before economy can get running again at CNBC. Bezos full letter
Gardeners flock to stores, overwhelm websites at AP. “Seeds companies are “seeing unprecedented levels of customer interest,” said Kelly Funk, president of Park Seed parent J&P Park Acquisitions. Park Seeds’ normal shipping window is two to three business days. Now it’s up to two weeks. Burpee Seeds chairman George Ball said this year’s buying spree is “so different that it’s unrecognizable in terms of just the sheer demand.” Read more
Bed Bath & Beyond Q4 comp sales -5.6% Press release
…Bed Bath & Beyond earnings top estimates, retailer plans to maintain some key investments at CNBC. “…the company earned 38 cents per share, better than the 20 cents analyst were expecting…Sales at its bricks-and-mortar stores open for at least 12 months dropped 10%, while online sales jumped 16%, it said.” Read more
Rite Aid Q4 comp sales: Retail pharmacy +1.6% / Front-end (excluding cigarettes & tobacco) +1.5% Press release
The COVID Diet: How the Pandemic is Impacting Eating, Drinking Habits at Field Agent. “41% said they’re eating healthier, including 8% who selected “much healthier,” since the crisis began. Compare this to 19% who said they’re eating unhealthier.” Read more
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644 coronavirus cases connected to Smithfield meat-processing plant in South Dakota at USA Today. Read more
Amazon Retools With Unusual Goal: Get Shoppers to Buy Less Amid Coronavirus Pandemic by Dana Mattioli at Wall Street Journal. “Also among the changes, which Amazon hasn’t yet announced publicly, the company decided to cancel Mother’s Day and Father’s Day promotions typically visible on the site to encourage spending. Its annual July shopping extravaganza, Prime Day, has been pushed back indefinitely, and Amazon has scaled back coupons that encourage shoppers to fill their carts.” WSJ subs.
Costco increases dividend by ~8% Press release
SACRAMENTO – Raley’s unveils new flagship market. What a store opening looks like during the pandemic by Daniel Kim at Sacramento Bee. “Customers said they started lining up at 5 a.m. in Land Park. Many were hunting for toilet paper and other items in short supply…“It’s not your traditional opening — it’s not a grand opening,” said Kevin Buffalino, Raley’s public relations manager.” Read more/Video
NRF reports March sales:
- Clothing stores saw the biggest decline with sales down 50.5 percent from February
- Furniture store sales were down 26.8 percent
- Sporting goods stores were down 23.3 percent
French ruling pushes Amazon to close its warehouses over COVID-19 health concerns at The Verge. “Amazon says it will continue to serve French customers using its Marketplace sellers and “robust global fulfillment network.” However, it’s not clear if that means French customers will have to order from Marketplace sellers outside the country and have those products shipped in…” Read more
Hy-Vee Jumps Into Shoe Sales With Both Feet at Progressive Grocer. “Hy-Vee is introducing a new shop-in-shops lifestyle concept at its stores. The supermarket chain has partnered with Designer Brands Inc. to offer DSW Designer Show Warehouse footwear and accessories both in-store and online.” Read more
WinCo Wins The Pricing Game In Eastern Washington/Northern Idaho’s Inland Valley at Produce Business. “Safeway’s produce prices come up as 30.46% over those at Walmart, and Albertsons was 29.92% over Walmart…WinCo is 15.47% under Walmart in organic…” Read more
Coronavirus unmasks Amazon’s stumbles at Whole Foods at Reuters. “I’m really surprised that they weren’t able to scale for this. I was expecting them to perform better. It seems like more than anything Amazon is a supply-chain company,” said Ellen Sullivan, 37, a Chicago-based office manager.” Read more
Tipsheet Extra
‘Mandalorian’ Docuseries to Debut in May
Publix Adds Former Atlanta VP to Board
College towns slowly awaken to a surreal new normal
BJ’s Wholesale Announces Change to Board of Directors
Starboard ends eBay proxy fight
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