Tipsheet: Costco +15.9% | Kohl’s -10% | WM Acquires Ad Tech | Tapestry -7%
BOOM – Costco January comp sales +15.9%: US +15.4% / Canada +15.2% / Other Int’l +19% / Ecom +106.7% “Costco reported net sales of $13.64 billion for the retail month of January, the four weeks ended January 31, 2021, an increase of 17.9 percent from $11.57 billion last year.” Press release
Union leaders backing Amazon election in Alabama discuss effort with White House at Reuters. “RWDSU President Stuart Appelbaum said labor leaders “connected to the RWDSU” spoke to the White House, but he declined to name who they spoke with. He also said another senior advisor to Biden has been tracking the Alabama effort.” Read more
Tapestry Q2 net sales fall 7% in holiday quarter: Coach down 4% / Kate Spade down 13% / Stuart Weitzman down 27% Press release
Kohl’s sees holiday-quarter revenue down 10% at CNBC. “Analysts had been calling for a revenue decline of 8.9%, according to a poll compiled by Refinitiv…Chief Executive Michelle Gass said digital sales represented more than 40% of net sales during the period, up more than 20% year over year.” Read more
PayPal profit tops estimates at Fox Business. “PayPal’s processed payments in the latest quarter rose 39% to $277.1 billion, with an additional 16 million net new active customers…Quarterly revenue rose about 23% to $6.12 billion, topping estimates.” Read more
Ebay earnings beat on pandemic-driven surge in online shopping at Reuters. “In the United States, one in 10 online shoppers bought something on eBay. In Germany, that number was one in seven and in the UK, it was one in four,” Iannone said on a conference call with analysts. EBay also projected first-quarter revenue in the range of $2.94 billion to $2.99 billion, above estimates of $2.53 billion, according to IBES data from Refinitiv.” Read more
Walmart will acquire technology from Thunder Industries, a company that uses automation to create digital ads at Wall Street Journal. “A skin care company could use the tool to create versions of an ad with models of different ages, for example, then use the technology to determine which performs best. The new self-serve display ad tool will launch later this year, the company said.” WSJ subs.
Amazon is testing Rivian electric delivery vans in Los Angeles at CNBC. “Now, Amazon says it will test the custom electric vehicles in as many as 16 different cities in 2021.” Read more
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Casper names Charles Liu Chief Operating Officer “Most recently, Charles was Vice President of Supply Chain for Walmart’s e-commerce division…” Press release
L Brands raises forecast, says CFO is retiring and Victoria’s Secret spinoff is still an option at CNBC. “It said it expects same-store sales to increase by 10% in the quarter, which includes a 22% increase at Bath & Body Works and a 3% drop at Victoria’s Secret.” Read more
Express, Inc. Regains Compliance With NYSE Listing Standards Press release
Ralph Lauren said it expects fourth-quarter fiscal 2021 revenue to fall by mid-to-high single digits, while analysts’ were expecting a 2.9% drop at CNBC. Read more
PriceSmart to Open Ninth Warehouse Club in Colombia, and Expects to Have 50 Clubs in Operation by Spring 2022 Press release
Tipsheet Extra
Krojis Go Viral as Kroger ‘Low’ Ads Become Memes
Anti-baldness drug Propecia has long trail of suicide reports, records show
Pot producer Canopy launches pet treats after Martha Stewart’s line takes off
Jeff Bezos’ $500M real estate portfolio: See all his luxury houses
Walgreens out to ‘supercharge’ owned brands
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