Tipsheet: Costco +11.1% | Target TikTok Hoax | Amazon ‘No More Smiles’ Protest
Costco March comp sales (ex. gas & f/x) +11.1% : U.S. +11.3% / Canada +13.0% / Other Int’l +7.7% “Costco…reported net sales of $18.21 billion for the retail month of March, the five weeks ended April 4, 2021, an increase of 17.6 percent from $15.49 billion last year.” Press release
Best Buy launches a new $200 membership program to fight Amazon at CNN. “… piloting a $199.99 annual membership program with free device installations, a concierge service for tech support and other perks. The program, Best Buy Beta, will be available at around 60 Best Buy stores in six states by the end of this month. It also includes free shipping without order minimums, extended return windows and exclusive sales.” Read more
Instacart and DoorDash Plan to Launch Their Own Credit Cards at Wall Street Journal. “The Instacart credit card isn’t expected to launch until next year, one of the people said. Cardholders will likely earn 5% cash back on their Instacart purchases…JPMorgan is also bidding for the DoorDash card, people familiar with the matter said. DoorDash is currently reviewing bids, which also include an offer from fintech company Deserve, which would work with another fintech firm, Marqeta.” WSJ subs.
Amazon union drive in Alabama sees 55% voter turnout at CNBC. “Hundreds of ballots were challenged, mostly by Amazon, according to the RWDSU. If the margin of victory ends up being less than the total number of challenged ballots, the final tally will be temporarily halted until those challenges are resolved via a hearing held by the NLRB.” Read more
GameStop plans to elect activist investor Cohen as chairman at Reuters. Read more
Sneaker reseller StockX’s valuation jumps to $3.8 billion at CNBC. “The company that once billed itself as the “Stock Market of Sneakers” has extended its offerings to collectibles, handbags, electronics and more. But the core business remains the same, users can buy or sell goods on an open market, with StockX providing the platform, authentication and niche content related to what it calls “current culture.” Read more
Target CIO Mike McNamara makes a cloud declaration of independence at Protocol. “Just to confirm, are you completely off of AWS at this point? Yes, we are. How much of that was a result of the fact that Amazon is Amazon? All of it was a result of Amazon.” Q&A
Saks Fifth Avenue Commits to Going Fur-Free “Shearling, goatskin, cattle hide, down, feathers, leather and faux fur products will continue to be sold online and in stores.” Press release
Amazon driver leaving packages upside down as part of ‘No More Smiles’ protest at GeekWire. “In a post on Reddit, user AugustaSummerz discussed what they called their own movement — “No More Smiles With Amazon.” The post is accompanied by a collage of images showing packages in front of doorways.” Read more/Pics
Tencent’s main shareholder Prosus nets $15 billion from record stock sale at CNN. Read more
A Target Sex-Trafficking Hoax Is Going Viral on TikTok at Rolling Stone. “The harrowing story, told in two parts, is hashtagged #sextraffickingawareness and #target, and has a combined 1.2 million views…anti-trafficking experts are highly skeptical of these reports. “I have never heard a case of anyone being abducted from Target in my 20 years in this field,” says Jean Bruggeman, executive director of Freedom Network USA.” Read more
Tipsheet Extra
People who got the Moderna COVID-19 vaccine say they have more side effects
How FedEx & Otter solved the packing puzzle of cooled, secure wine shipping
Raley’s to transform all stores to O-N-E Market concept
Jeff Bezos-National Enquirer Drama Takes a Bizarre New Turn
Global Food Costs Keep Climbing
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