Tipsheet: CVS Front -2.1% | Wmart Heirs Invest | Wayfair +43%


CVS Q2 Comp Sales: Front -2.1%, Pharmacy -2.8% Press release


…CVS Health tops 2Q forecasts, narrows 2017 guidance by Tom Murphy at Fox Business. “Overall, CVS Health’s second-quarter earnings of $1.1 billion rose 19 percent compared to last year’s quarter, when the company booked a $542 million loss on the early retirement of some debt.” Read more


Wal-Mart, insurers settle lawsuits over 2014 Tracy Morgan crash by Jonathan Stempel at Reuters. “Terms of the settlement are confidential, and both sides agreed not to bring their claims again…Wal-Mart’s payouts to Morgan and Fuqua have not been disclosed, but court documents suggest that the Bentonville, Arkansas-based retailer might have paid more than $90 million.” Read more


Michael Kors Q1 Comp Sales -5.9% (vs. -9.0% predicted) Press release


…Michael Kors’ profit tumbles but tops Street estimates, sending shares soaring at CNBC. “Total revenue for the first quarter came in at $952.4 million, again topping analysts’ estimates for sales of $918.6 million, according to Thomson Reuters.” Read more


Amazon is telling third-party booksellers they must speed up delivery times by up to 40% by Ari Levy at CNBC. “Starting Aug. 31…According to an email that Amazon sent to sellers of books, CDs and DVDs, distributors to the lower 48 states will have to deliver items within a window of four to eight days, down from four to 14 days.” Read more


Wayfair Q2 Total Net Revenue +43% Press release


A memorial service for Costco Co-founder and Chairman Jeff Brotman has been scheduled for 11 a.m. today at McCaw Hall by Coral Garnick at Puget Sound Business Journal. Read more


Paper or plastic? Chicago bag tax is encouraging shoppers to say ‘neither’ by Lauren Zumbach at Chicago Tribune. “…the amount the city has collected so far — nearly $3 million as of July 25 — is on pace to come in well below the $9.2 million the tax was expected to generate for city coffers this year.” Read more


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Martha Stewart going to trial over PetSmart dispute by Anthony Noto at New York Business Journal. “Martha Stewart Living Omnimedia…has been accused of strong-arming a business partner out of a deal with national pet store chain PetSmart.” Read more


Ex-Sam’s Club CEO Kevin Turner named advisor to Albertsons CEO Press release


Amazon is staffing up its big new Bellevue, Wash. office building by Nat Levy at GeekWire. “Amazon’s jobs site shows 85 open positions in Bellevue, most of them in the new 354,000-square-foot building called Centre 425.” Read more


Public has chance to air concerns today over Costco chicken plant in Nebraska by Barbara Soderlin at Omaha World-Herald. “The Nebraska Department of Environmental Quality will hold a public hearing at 5 p.m. Tuesday at the Christensen Field multipurpose building in Fremont.” Read more


These are the most — and the least — trusted news sources in the U.S. by Sue Chang at MarketWatch. Chart/Read more


What Wal-Mart Pay Knows That Apple Pay Doesn’t by Karen Webster at Seeking Alpha. “Since March, we’ve seen the first-time use of Wal-Mart Pay increase by 31.7 percent to 19.1 percent of respondents. And of those who have the app on their smartphone and use it to pay, there was an increase of 53.5 percent to 5.08 percent of respondents.” Read more


Panel Upholds $42M Judgment Against Safeway for Online Markups by Ross Todd at The Recorder. “The suit claimed Safeway breached the terms of its agreement with online customers in April 2010 when it increased prices for the delivery service by about 10 percent over the rates charged at the brick-and-mortar stores where the orders were filled. The markups, the plaintiffs claimed, were higher than delivery fees allowed under the terms of their contract.” Read more


Walmart heirs win battle for cycling brand Rapha at BBC. “Upmarket cycling clothes brand Rapha has been bought by the grandsons of Walmart founder Sam Walton. Steuart and Tom Walton and their firm RZC Investments will now own a controlling stake in the business.” Read more


Ralph Lauren’s quarterly sales down 13.2 percent at Reuters. “Revenue fell to $1.35 billion from $1.55 billion.” Read more


Wal-Mart, Visa Want Antitrust Case Paused To Work On A Deal by William Gorta at Law 360. “The companies have dueling lawsuits springing from Wal-Mart’s opting out of a $7.25 billion antitrust settlement in the interchange fee multidistrict litigation, which were stayed in 2015 to await the outcome of appeals to the settlement.” Read more (subs.)


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