Tipsheet: Costco +13.2% | Publix Cares Most | Michaels +12%
Costco August comp sales +13.2%
…US +12.5% / Canada +14.6% / Other Int’l +16.1% / Ecom +101.9% Press release
Michaels Q2 comp sales +12% “Operating income was $53.3 million compared to operating income of $71.3 million in the second quarter of fiscal 2019.” Press release
Walmart gets creative, goes virtual as it plans for holiday toy shopping at CNBC. “Before each holiday season, Walmart gathers hundreds of kids at a convention center near its Arkansas headquarters. The young testers try out lots of toys and pick those they would like to get from Santa. That shapes the retailer’s list of top toys and determines which ones it orders in abundance. This year, the company mailed toys to several dozen kids to test at home instead.” Read more
Target Names Maurice Cooper Senior VP of Marketing “Cooper joins the company Sept. 14 and will report to Rick Gomez…previously served as Executive Vice President and Chief Growth & Experience Officer at Wingstop Restaurants…In addition, Cooper has had executive brand marketing roles at Intercontinental Hotels Group and The Coca-Cola Company.” Read more
Struggling Retailers Brace for a Muted Holiday Season at NY Times. “…more expensive items, like jewelry or higher-end electronics, could see a boost in sales…“Because some people are not spending on eating out and going to the theater and traveling, they actually have extra money to buy an aspirational product, which helps luxury and higher-end products,” said Marie Driscoll, managing director of luxury and fashion at the research firm Coresight Research.” Read more
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Hot Back-to-School Items During Coronavirus Are Tents, Webcams at Wall Street Journal. “The average U.S. school district will spend nearly $400,000 on products related to the pandemic response…Sergio Gonzalez, owner of keyboard-cover maker Viziflex Seels Inc., said he expects sales to schools and offices to double this year, as people look for ways to make spaces easier to clean. “You are putting a keyboard mask on your keyboard,” he said.” WSJ subs.
Saks sues its Bal Harbor Shops landlord for defamation at NY Post. “The gloves are off between Saks Fifth Avenue and its landlord at the tony Bal Harbor Shops in Miami. The luxury department store sued the shopping center and its owner, Matthew Whitman Lazenby, for trying to “publicly shame Saks” tied to an August dispute over rent.” Read more
Ex-Walgreens comms exec joins City of Hope at PR Week. “Independent cancer and diabetes research and treatment center City of Hope has hired Gulden Mesara as SVP and chief communications and marketing officer.” Read more
Amazon, Verizon may invest over $4 billion in India’s Vodafone Idea at Reuters. Read more
This new company is buying brands like Modell’s and giving them new life online at NY Post. “Tai Lopez…has launched a new company, Retail Ecommerce Ventures, that’s shelling out tens of millions of dollars for a growing assortment of down-and-out retail brands…“Yesterday I wired $31 million to buy the company Pier 1 Imports. That’s fun,” Lopez said in a rambling, 23-minute Facebook video he posted July 31, leaning against the side of his pickup truck. “It’s good to be underestimated, my friend.” Read more
Bed Bath & Beyond Hires Wade Haddad To Lead Store Optimization & Real Estate Strategy Press release
Boxed Could Go Public or Sell Itself, Sources Say at Yahoo. “Reuters said its unnamed sources indicated Boxed is examining the possibility of a merger with a special purpose acquisition company (SPAC), which could lead to a public stock offering as one of several potential outcomes. It has also engaged the services of Citigroup to provide guidance as it moves forward on the possible deal.” Read more
Publix Ranked No. 1 on PEOPLE’s 50 Companies that Care List (Wegmans #5, Sheetz #11, Target #12, Burlington #23) Top 50 list
Tipsheet Extra
As pandemic drags on, Publix removes one-way shopping aisles
Why this Costco golf product has been in such high demand
Man opens fire outside a Family Dollar store after being told to leave for not wearing a mask
PETA bashes Wegmans for selling coconut milk that they say uses forced monkey labor
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