Tipsheet: F. Dollar +11.6% | Target #4 Intimate | Tiffany -24%
Amazon to open first of its new chain of Fresh grocery stores in Los Angeles’ Woodland Hills neighborhood at CNBC. “…will open its doors this week to customers invited from the local area, the company announced Thursday. The store will open to the broader public in the coming weeks.” Read more
…Amazon’s latest grocery store concept opens, with high-tech carts at Reuters. “This lets shoppers filling up to two grocery bags forgo the store’s cashiers via technology systems that discern what they put in the cart and bill a credit card on file once customers leave through a designated lane. The shop also has a counter for picking up and returning web orders, and stations for questioning Amazon’s voice-controlled assistant Alexa about the store.” Read more
…Inside Amazon’s New Fresh Grocery Banner at Progressive Grocer. “The store is not 100% checkout-less, another nod from Amazon as it looks to give its customers as many choices as possible. The Fresh concept offers traditional checkout carts, traditional checkout lanes and traditional point of sale (using cash, credit, SNAP etc).” Read more/Video
Williams-Sonoma Q2 net comp growth +10.5% Press release
Dollar Tree Enterprise Q2 comp sales +7.2% / By segment: Family Dollar +11.6%, Dollar Tree +3.1% Press release
Tiffany Q2 comp sales down 24% Press release
Express Q2 comp sales down 24% Press release
Burlington Stores Q2 total sales down 39% Press release
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Abercrombie & Fitch Q2 net sales down 17% Press release
Costco’s Frank Padilla talks organics at virtual event at The Packer. “Frank Padilla, vice president and general merchandiser manager for produce and meat for Costco…(said) organic items that performed particularly well included ginger root and long English cucumbers…” Read more
Dick’s Sporting Goods Q2 Earnings Call Transcript at Seeking Alpha
Lowe’s is teaming up with Jason Wu, Rebecca Minkoff and Christian Siriano to translate high fashion to home “The intersection between home and style has never been more prevalent than it has this year, and partnering with some of the world’s most modern and visionary leaders of fashion to demonstrate how everyone can bring fashion “home” is very exciting to us,” said Marisa Thalberg, Lowe’s Chief Brand and Marketing Officer.” Press release
Target names former EVP of CVS Health and president of CVS Caremark to Board of Directors Read more
Saks owner Hudson’s Bay drops plans to raise $900M in debt at NY Post. “…after prospective investors requested a higher interest rate than the company was willing to pay, people familiar with the matter said Wednesday.” Read more
U.S. Top 10 Most Intimate Brands: Amazon #1, Walmart #2, Costco #3, Target #4…Press release
With Stimulus Checks on Hold, Americans Are Spending Less at the Grocery Store at Wall Street Journal. “People perceive they’re spending more money on food, despite eating out less,” said Walmart U.S. Chief Executive John Furner on a conference call last week. “So we’ll be thoughtful about the way we plan the rest of the year and react to changes in the trends we see from our shoppers.” WSJ subs.
Hibbett Sports Announces New Field Leadership Team Press release
Tipsheet Extra Stories
Ikea and Lego built the storage boxes of your dreams
Murder suspect’s suicide sparks looting, unrest in Minneapolis
Sea cucumbers are helping Costco clean up in China
Amazon unveils Halo to battle Apple Watch and Fitbit
75-year-old punched at Publix over social distancing dispute
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