Tipsheet: Costco Chicken Plant Up | Amazon Expired Food | Casper IPO?
Hudson’s Bay to be taken private by chairman-led group at Reuters. “Hudson’s Bay Co said on Monday it has agreed to a higher offer from a group of shareholders led by its Executive Chairman Richard Baker to take the struggling Canadian department store chain private. The group has offered C$10.30 per share in cash for the 43% of shares it does not own, representing a premium of about 9% to the company’s closing price on Friday.” Read more
Amazon is shipping expired food, scaring consumers and putting big brands at risk at CNBC. “A data analytics firm that specializes in the Amazon Marketplace recently analyzed the site’s 100 best-selling food products for CNBC and found that at least 40% of sellers had more than five customer complaints about expired goods.” Read more
Instacart agrees to $11M settlement after drivers said they were skimped on wages by Lisa Fickenscher at NY Post. “The settlement comes as Instacart — valued at $7 billion — faces a worker strike planned for next month by a group of drivers and shoppers, according to a Medium blog post.” Read more
Alphabet subsidiary Wing is now delivering snacks and health care products to residents of Christiansburg, Virginia at The Verge. Read more
Online Influencers Tell You What to Buy, Advertisers Wonder Who’s Listening by Suzanne Kapner & Sharon Terlep at Wall Street Journal. “Ipsy, an online cosmetic brand, was a pioneer in paying social-media stars hefty fees to promote its eye shadow and lip gloss in Instagram posts and YouTube videos. Now, the brand is leading the way again, this time by pulling back.” WSJ subs.
Amazon is now funding computer science courses in more than 2,000 high schools Press release
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Massive Costco chicken plant up and running despite concerns about the facility and suppliers by Paul Hammel at Omaha World Herald. “A $450 million campus of buildings that opened recently in Fremont will eventually process 2 million chickens a week, or about 100 million a year, enough to supply a third of Costco’s demand for both roasted and fresh chicken.” Read more
Feds seek to have Academy Sports added to Sutherland Springs mass shooting case by Paul Takahashi at Houston Chronicle. Tiered subs.
Grocery sales are rising but so is the pressure on profits, analyst says at CNBC. “Walmart has a 22% share of the $847 billion U.S. grocery industry…(Walmart’s) same-store sales growth at its grocery business has been outperforming rival supermarket chains since 2017, but the gap is narrowing. Also, as food prices are disinflating, grocery gross margins have worsened for Walmart, Wolf said Friday in a research note.” Read more
Casper Is Said to Work With Morgan Stanley, Goldman on IPO by Crystal Tse & Alistair Barr at Bloomberg. “The company also plans to open hundreds of physical stores. Part of its motive for going public is to raise capital for that expansion, one of the people said.” Tiered subs.
Amazon workers ‘forced to go back to work’ after fellow employee dies on shift by Dana Schuster at NY Post. Read more
‘Murder Kroger’ has long lived in Atlanta lore. A major rehab may finally put the painful nickname to rest at CNN. “The new Kroger reopened on October 16 along the Atlanta BeltLine, a popular multiuse trail. It features a large outdoor seating area, a Starbucks and a BBQ restaurant. Local headlines dubbed the store “Beltline Kroger,” while others refused to let “Murder Kroger” die.” Read more
A law from the 1600s will keep retail shops closed on Sundays at the nation’s newest shopping mall at CNBC. Read more
Tipsheet Extra
Fortune: Top 10 Sustainability All Stars
New Cosmic Crisp apples expected to be a game changer
Online ordering boom gives rise to virtual restaurants
Amazon will move into the former Necco factory in Boston area
Burglar hid in Costco for hours before stealing $13K worth of jewelry
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