Tipsheet: Big Lots +31.1% | Back-to-School Forever | Ulta -26.7%
Big Lots Q2 comp sales +31.1% at The Street. “Our [comparable] increase was the best in the company’s history, and adjusted EPS was the most we’ve reported in a second quarter, and more than five times what we reported a year ago,” Bruce Thorn, president and CEO, said in a statement.” Read more
Gap’s decision to pivot and make face masks put $130 million in its registers at CNBC. “During the quarter ended Aug. 1, Gap’s total sales fell about 18% to $3.28 billion from $4 billion a year ago. Its online sales surged 95%.” Read more
Ulta Q2 comp sales down 26.7% Press release
Lord & Taylor will close all stores – steep liquidation sales started yesterday at Fast Company. “The company filed for Chapter 11 bankruptcy on August 2, initially planning to keep 19 of its 38 locations open, but cutting that number to 14 just a few weeks later. Now, it’s deciding that everything must go.” Read more
John Hancock is the first life insurer to integrate with Amazon Halo Press release
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US consumer spending rose a moderate 1.9% in July at AP. Read more
3 reasons why Walmart is chasing TikTok at Fortune. Read more
Forget back-to-school bargains: Retailers waiting it out as parents postpone purchases at CNBC. “We’ll extend the season and extend our assortment because we know at some point in time, those students will need backpacks and uniforms. They’re going to need school supplies,” Target CEO Brian Cornell said.” Read more
Beyond Meat launches DTC site Press release
Amazon orders 1,800 electric vans from Mercedes-Benz for its European deliveries at Business Insider. “Jeff Bezos said the vans are part of the company’s “journey to build the most sustainable transportation fleet in the world.” Read more
Cosmetics maker Coty posted a bigger-than-expected quarterly loss and a 56% slump in sales at NY Post. “In a bid to become nimble, Coty is now planning to sell or shutter most of its factories and outsource more operations to deal with the fallout from the COVID-19 crisis, the Financial Times reported Thursday, quoting Coty Chairman Peter Harf.” Read more
Amazon protesters outside Jeff Bezos’ home construct guillotine at Fox Business. “Footage posted to Twitter by the Washington Examiner on Thursday shows people who are allegedly Amazon protestors, setting up a makeshift guillotine outside of Bezos’ home in Washington. The protestors are said to have called for a $30 minimum wage.” Pic/Read more
Tipsheet Extra
Retailers respond to consumer interest in black-owned businesses
The backyard office shed is having a moment
Harry Potter comes to Build-A-Bear Workshop
Instacart faces lawsuit from DC attorney general
Cineworld CEO says it had many ‘sold-out’ shows as movie theaters reopened
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