Tipsheet: BJ’s +18.5% | Ace +28.9% | Bath & Body +55% | DoorDash Gifting
BJ’s Wholesale Club Q3 comp sales (ex-gas) up 18.5% “Adjusted EBITDA increased by 57.1% year-over-year to $242.2 million, for the third quarter of fiscal 2020.” Press release
October existing home sales see ‘spectacular’ 26.6% annual gain even with short supply and surging prices at CNBC. “There were 1.42 million existing homes on the market at the end of October, a 19.8% drop compared with October 2019. At the current sales pace, that represents a 2.5-month supply, the lowest on record.” Read more
Macy’s Q3 comp sales down 21% Press release
Ace Hardware Q3 US comp sales up 28.9% Press release
Shoe Carnival Q3 comp sales up 0.9% Press release
Metro Q4 comp sales: Food up 10% / Pharmacy up 5.5% Press release
Walgreens to offer same-day pickup for online shoppers at Reuters. “Walgreens said its customer loyalty program has more than 100 million members and the new services will be in addition to at-home delivery and discounts.” Read more
Ahold Delhaize is buying the online grocery service FreshDirect at CNN. “The deal is expected to close next year. FreshDirect will retain its name and continue to operate out of New York City, where it was launched in 2002.” Read more
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Amazon restructures drone program, cuts jobs at Business Insider. “The jobs would be lost in research and development as well as in manufacturing, the Financial Times reported…(Amazon) has reached tentative deals with Spain’s Aernnova Aerospace and Austria’s FACC Aerospace to manufacture component parts of its drone, the FT reported.” Read more
Bath & Body Works posts a 55% jump in quarterly sales at Fox Business. Read more
How Home Depot plans to grow its media network at Ad Age. “(Home Depot) scaled the program last month and will further expand to include outside advertisers and channels in 2021.” Ad Age subs.
Forrester estimates that US online holiday sales will grow 24% year over year in 2020 Press release
Retail Entrepreneurs Buy Twice-Bankrupt RadioShack With Plans for Online Revival at Wall Street Journal. “The deal marks REV’s latest purchase of a retail brand since Covid-19 began spreading in the U.S. Earlier this year, the company bought the e-commerce business of Pier 1 Imports Inc. and the trademark assets of Modell’s Sporting Goods out of bankruptcy.” WSJ subs.
Target Q3 2020 earnings call transcript at Seeking Alpha. Full transcript
Walmart will deliver your Christmas trees and hang your lights for you this year at Business Insider. “Walmart has partnered with Handy for its lights installation program, which is limited to single or double-story homes. Installation on single-story homes costs $129, while the service for double-story properties is more expensive at $199.” Read more
Lowe’s Q3 2020 earnings call transcript at Seeking Alpha. Full transcript
DoorDash launches gifting feature in time for the holidays at The Verge. “Ordering works the same way it traditionally does…only now at checkout, you can select to “send as a gift,” launching the new interface. From there, you can schedule the delivery, select from a collection of cards to personalize with a message, enter in the gift recipient contact information, and send.” Read more
TJX Companies, Inc. Q3 2021 earnings call transcript at Seeking Alpha. Full transcript
Tipsheet Extra
Big Tobacco gets a pandemic pick-me-up
Zillow surfing is the escape we all need right now
Farmstead, a grocery startup with a focus on software, raises $7.9M
Staples seeks suppliers for community concept store
10 jobs that could disappear or decline because of COVID-19
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