Tipsheet: Costco/PBM Partner | WM VP Tech Q&A | New Homes +20.7%
New home sales surged 20.7% in March to 1.02 million at AP. “The big jump in new home sales stood in contrast to sales of existing homes, which fell for a second consecutive month in March, a drop that was blamed on a lack of supply which has pushed exiting home prices to new highs.” Read more
Costco Brings Its Low-Price Magic to Employer-Paid Drug Plans at Bloomberg. “(Costco) has become partners with Navitus Health Solutions LLC, a small pharmacy benefit manager based in Madison, Wis., on a strategy that could rewrite the complicated playbook for running prescription plans…Navitus’s 100% pass-through model saved the retailer millions of dollars on drug costs, according to Costco CFO Richard Galanti, while aligning with a core Costco strategy. “We’ve always been known for passing on as much savings as possible directly to our member, to our customer, whether it’s food and sundries or prescriptions,” he says.” Tiered subs.
Amazon tests tool that lets brands contact shoppers in departure from its tight control over customers at CNBC. “Last week, Amazon began piloting a tool that enables U.S. brands who are part of its Brand Registry program to email marketing materials to shoppers that have opted to “follow” their brand. Brands can then notify those shoppers when they launch a new product or promotion.” Read more
Amazon reportedly bringing cashierless tech to its larger grocery store format at GeekWire. “Bloomberg uncovered planning documents for an Amazon Fresh store under construction in Connecticut that show entry and exit gates and ceiling-mounted racks, which are used in Amazon’s smaller Amazon Go and Go Grocery stores and eliminate the need for physical cashiers.” Read more
Albertsons Companies names Danielle Crop as Chief Data Officer “Crop was most recently Chief Data Officer at American Express.” Press release
How Walmart adapted its IoT strategy to the pandemic at VentureBeat. “VP of technology Sanjay Radhakrishnan oversees Walmart’s IoT platforms and applications. Radhakrishnan sat down with VentureBeat to describe the giant retail chain’s long-term data strategy and how it’s changed since last March to accommodate changing store ecosystems across the U.S.” Q&A
Lowe’s acquires Stainmaster brand Press release
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How A Home Depot Store Manager Became A Top CEO at Investor’s Business Daily. “Tom Taylor joined Home Depot at just 16 years old — and became its youngest store manager at 22. And he’s tapped that early hands-on experience to be the Floor & Decor CEO…Early on, “(I) learned that a title didn’t make me any better or smarter than anyone else,” he said. “We have to get things done as a team.” Read more
Gymnast Simone Biles is leaving Nike to work with Gap’s Athleta brand at CNBC. Read more
US drop in vaccine demand has some places turning down doses at AP News. “Across the country, pharmacists and public health officials are seeing the demand wane and supplies build up. About half of Iowa’s counties have stopped asking for new doses from the state, and Louisiana didn’t seek shipment of some vaccine doses over the past week.” Read more
Home Depot Pays $21M To End EPA’s Lead Paint Safety Suit Law 360 subs.
Target, Ross, Marshalls, Drug Chains: The Vegas Strip Is Now A Strip Mall at Forbes. “The high-end luxury stores may get all the attention but the truth is that Las Vegas’s famed main thoroughfare has moved big-time from class to mass.” Read more
Mattel Q1 net sales up 47% Press release
VF Corporation appoints Matt Puckett as CFO “Puckett, 47, recently marked his 20th anniversary with VF. He joined the company in 2001 as a Senior Accountant in the finance organization.” Press release
Tipsheet Extra
FDA: N95 masks, now plentiful, should no longer be reused
Presumptive top NFL draft pick Trevor Lawrence announces deal with Gatorade
Judge approves $5M settlement over Walmart sales tax class action
60% opt for rapid delivery vs. eco-friendly consolidated shipments
Leevers Acquires 17 Save A Lot Stores Around Philadelphia
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