Tipsheet: Best Buy New CEO | FDA Threatens | Amazon Sweeps
Best Buy names Corie Barry as its new CEO, Hubert Joly to become board’s executive chairman at CNBC. “Corie Barry, currently the company’s chief financial and strategic transformation officer, will become its new chief executive officer, effective June 11…current U.S. chief operating officer Mike Mohan will be promoted to president and COO, while the company conducts an internal and external search for a new CFO.” Read more
FDA threatens to fine Walmart, Kroger and c-stores for selling tobacco to minors at CNBC. “The agency cited high rates of violations in nearly identical letters sent to retailers last week. In addition to the retailers above, 7-Eleven, BP, Casey’s General Stores, Chevron, Citgo, Exxon, Marathon Petroleum, Shell and Sunoco (and Family Dollar) all received the letters.” Read more
Amazon Finds It’s Hard to Run a Real Sweepstakes in the Robocall Era by Brad Stone at Blooomberg. “Shockingly, it is real,” (an Amazon spokesman) wrote. “Congrats!” I was gobsmacked. I called Max back to ask him a few more questions: “What are the odds of winning this?” “Astronomical,” he replied.” Tiered subs.
What do shoppers think of Walmart Voice Order? by Chris Medenwald at Field Agent. “15-of-21 Google Home owners in this user-experience study said they’re completely likely to use Walmart Voice Order again (i.e., to “add” groceries).” Read more
Amazon workers go on strike in Germany, demand better pay and working conditions at Reuters via CNBC. “Trade union Verdi said workers at warehouses in Rheinberg, Werne, Bad Hersfeld and Koblenz had stopped work, with the strike set to last until Thursday in some centers, and others potentially joining over the Easter holiday period.” Read more
Mainstream retailers embrace marijuana’s less taboo cousin by Anne D’Innocenzio at AP News. “Walmart says it doesn’t have plans to carry CBD-infused products at this time and Target…said it’s monitoring the situation.Meanwhile, online behemoth Amazon is staying clear of the stuff.” Read more
Walmart started talks for investment, ended in acquisition: Flipkart co-founder at Times of India. Read more
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The ‘Amazon of Africa’ soars more than 75% on its first day of trading at CNBC. “The largest e-commerce operator in Africa, Jumia Technologies…has 4 million active customers as of the fourth quarter of 2018… Jumia operates in 14 African countries, including Ghana, Kenya, Ivory Coast, Morocco and Egypt.” Read more
Grocery consolidation likely to continue in challenging market by Kim Souza at Talk Business. “I am betting on the player [Walmart] who has been there [in grocery] longer,” she said. Schoeder said Walmart and Amazon are both giants and will likely continue their successes in the markets they serve. “I don’t think one will knock out the other, but others will fall out of the race,” he said.” Read more
The value of Tiger Woods’ Sunday victory at the 2019 Masters for Nike is roughly $22,540,000, according to Apex Marketing. at CNBC. Read more
…Did gum help Tiger Woods win? at USA Today. “Well, I’m chomping on this gum because I usually get hungry, I keep eating so much, and it curbs my appetite a little bit, which is nice,” Woods said.” Read more
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