Tipsheet: Costco +7.8% | B.Lots +10.3% | UPS +$31.45 to Ship Desk
US consumer spending sinks by record 13.6% in face of virus at AP. “Even with employers cutting millions of jobs, personal incomes soared 10.5% in April, reflecting billions of dollars in support through government payments in the form of unemployment aid and stimulus checks.” Read more
Costco Q3 comp sales +4.8% / +7.8% excluding gas & f/x Press release
Amazon expands use of SNAP benefits for online grocery to 11 more states at TechCrunch. “With these additions, Amazon customers on public assistance can shop online for groceries across a total of 25 U.S. states plus Washington, D.C. At checkout, they can pay for groceries using their SNAP EBT.” Read more
Target Closes 24 Stores Around Twin Cities As Protests Continue at CBS 4 WCCO. List of stores
Dollar Tree CEO wonders how long a sales surge from customers spending coronavirus checks can last at CNBC. “The discount retailer usually observes a sales spike related to tax refunds, Philbin said. But the increase following the disbursement of stimulus checks…has been tax refunds “on steroids,” he said.” Read more
Lumber Liquidators: Q1 comp sales -0.9% / Announces Charles Tyson as President & CEO Press release
Williams-Sonoma total comp brand revenue growth of 2.6%: Pottery Barn Kids and Teen at 8.5%, Williams Sonoma at 5.4% and West Elm at 3.3% Press release
Big Lots Q1 comp sales +10.3% “For the second quarter to date, comparable sales are up strongly, reflecting a continuation of the acceleration in business that began in mid-April. The company expects comp trends to moderate over the balance of the quarter…” Press release
Ulta Beauty Q1 comp sales -35.3% Press release
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Nordstrom sales fall 40%, but retailer says it has ‘sufficient liquidity’ to weather pandemic at CNBC. “Sales at its full-price department stores were down 36%, and sales at its off-price Nordstrom Rack division were down 45%. The retailer says roughly 40% of its department stores are now back open for business.” Read more
Costco plans to bring back samples at USA Today. “…during Costco’s quarterly earnings call Thursday, officials said they were targeting a mid-June return of the freebies.” Read more
JCPenney plans to reopen nearly 500 stores by June 3 Press release
UPS Adds Peak Delivery Surcharge to Manage E-Commerce Demand Amid Coronavirus at Wall Street Journal. “Another surcharge adds $31.45 onto each large package shipped, which could hit items like desks, patio umbrellas and trampolines that have been popular online purchases during lockdowns across the U.S…That fee would apply to shippers after they ship more than 500 large packages in a week.” WSJ subs.
Plastic bags, antibiotic reporting are among proposals likely to be rejected by Walmart shareholders at Talk Business. “Walmart will hold its annual shareholder business meeting virtually at 10:30 a.m. on June 3…” Read more
Home Depot CEO Craig Menear Presents at Bernstein’s 36th Annual Strategic Decisions Conference at Seeking Alpha. Transcript
Comcast, Charter and ViacomCBS Join Forces to Make TV Commercials More Targeted at Wall Street Journal. “Blockgraph acts as a service that helps brands and ad-inventory sellers match data sets without sharing too much personal data on the viewers, the company says. For instance, if a car maker buys a data set of people in the market for a car, it could use Blockgraph’s technology to match that list up with cable subscribers based on their home address…” WSJ subs.
PetSmart has named Deutsch L.A. its agency of record following a review, according to people familiar with the matter Adweek subs.
Aldi adding curbside grocery pickup to nearly 600 stores in 35 states this summer at USA Today. “However, the added convenience can come at a price. Aldi, well known for its low prices, says its groceries will cost more than what shoppers would pay in-store.” Read more
Alibaba’s InTime department store chain turns to live-streaming to boost sales during coronavirus at CNBC. “The move has pushed online sales to account for 20% of the company’s total so far this year versus a “single digit” number in 2019, CEO Chen Xiaodong told CNBC.” Read more
Tipsheet Extra
Kum & Go’s First-Ever Urban Store Welcomes Customers
Amazon.com was down for many in the US for a short while Thur afternoon
Animal drive-thru coming to a Bass Pro Shops’ parking lot
JC Penney Assures Sale And Reorg Plans Are On Track
Tyson Foods to close Iowa pork plant amid coronavirus outbreak
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