Tipsheet: CVS +9% | Walton Hits Trump | Lord & Taylor Liquidate
CVS Health Q1 comp sales +9% at CNBC. “Earnings per share: $1.91 cents, adjusted… Revenue: $66.8 billion…Wall Street anticipated earnings per share of $1.63 cents on revenue of $64.01 million.” Read more
Lord & Taylor to liquidate its stores as soon as they reopen at Reuters. “Lord & Taylor has lined up liquidators to help it run the “going out of business” sales and is girding to permanently close all its stores once the merchandise is sold, some of the sources said. The retailer had been exploring filing for bankruptcy among other options…” Read more
Walmart Billionaire Christy Walton Among Biggest Donors To Anti-Trump Republican Group at Forbes. “Walton donated $20,000 to the group in January. Forbes estimates that she is worth $9.1 billion. She inherited a stake in Walmart when her husband, John Walton (one of founder Sam Walton’s sons), died in a 2005 plane crash.” Read more
Office Depot Q1 total sales -2.0% Press release
Here’s how Nordstrom is preparing to reopen its stores at CNBC. “It will, meantime, shut some of its dressing rooms and clean them in between uses. Nordstrom added that any merchandise that is tried on, or returned, will be held “for a period of time” before it goes back to the rack or shelf.” Read more
Man who wiped nose on clerk’s shirt at Dollar Tree arrested at M Live. Read more
Booze bonanza for shops masks beer and spirits downturn at Reuters. “In the United States, “on-trade” drinking at bars and restaurants accounts for about 20% of spirits sales and 25% for beer, so off-premise drinking would need to keep growing by 25-30% to compensate…While U.S. stores’ alcohol sales are up a quarter since early March, the rate of growth slowed to 16% in the week to April 18, according to market research firm Nielsen.” Read more
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Walgreens to Resume Standard Store Operating Hours Press release
Instacart Wasn’t Ready to Become an Essential Service Overnight at Bloomberg. “Every day, we would see that the volume was 20% higher than the last day,” (CEO) Mehta says. “In a matter of a couple of weeks, we were already ahead of our end-of-year goal. A week later, we were ahead of our 2021 goals, and a few days after that, we were ahead of our 2022 goals…” Tiered subs.
UNFI Names Stacey Kravitz President of Canadian Division Press release
Kroger CEO Rodney McMullen scheduled to appear later today @ CNBC
How grocery bills skyrocket even as food becomes scarcer at CNBC. “The average household spends an extra $69 each week on food, as the average grocery run has risen to $155 per week…Some people are spending even more: Just under a quarter said they spend between $100 and $200 extra each week.” Read more
Tipsheet Extra
Fiskars is entering the world of high fashion, with a clothing and accessory line
44 million U.S. adults are “mooching” a streaming service subscription today
An Amazon warehouse worker in New York has died of COVID-19
America’s most passionate sports fans 2020
Your phone is an ‘adult pacifier’ that lulls you into oversharing personal information
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