Tipsheet: F. Locker +80% | Badwill | BJ’s Wholesale @ Pitt | FTC Prods Amazon
Foot Locker Q1 comp sales +80.3% Press release
Ross Stores Q1 comp sales +13% vs. 2019 Press release
The Buckle Q1 net sales +48.6% vs. 2019 Press release
Amazon internal messages show the FTC is prodding the tech giant to punish fake-review schemers at Recode. “Communications between Amazon employees viewed by Recode also appear to expose an inconsistent punishment system in which employees need special approval for suspending certain sellers because of their sales numbers, while some merchants are able to keep selling products to Amazon customers despite multiple policy violations and warnings.” Read more
TJX & Ross stage a comeback as shoppers crave ‘treasure hunting’ for clothes again at CNBC. “We see our stores as a desirable destination for consumers seeking some stress relief,” (TJX CEO) Herrman said, “and also a great place to shop when they are seeking inspiration and looking to discover new things, which is difficult to replicate online.” “Our business model now resonates more than it even did pre-Covid,” he said.” Read more
Amazon will end Prime Now as standalone service at GeekWire. “Prime Now will be integrated into Amazon’s main e-commerce website and app…” Read more
Amazon closing Connecticut site after another noose found at The Hill. “The noose was taken to a lab for testing, according to FOX61 News. Since then, five more ropes “that could be interpreted as nooses” have been identified around the site. “Some of them were just rope that was tied at the end and some were twisted in a manner to look like a noose,” said Power.” Read more
BJ’s Wholesale opening six new clubs this fiscal year – locations in the greater Pittsburgh area and in Lansing, Mich. are both new markets Press release
Food Supply Chains Are Stretched as Americans Head Back to Restaurants at Wall Street Journal. “The cost of pepperoni jumped 60% over the past five weeks for one independent pizzeria in Indiana, JPG Managing Director Glenn Pappalardo said. A deli in the state is only getting about 40% of the chicken it has ordered from suppliers, he said, while flour and tofu are out of stock about half the time.” WSJ subs.
China’s JD Logistics set to raise $3.2 billion in Hong Kong IPO at CNBC. Read more
Snap emphasizes commerce in updates to its camera and AR platforms at TechCrunch. “Users can now use their Snap Camera to scan a friend’s outfit, after which they’ll quickly be served up shopping recommendations from hundreds of brands.” Read more
Goodwill stores have a message: Please stop donating trash at AP/Yahoo. “If we don’t take something and they know we don’t take something, they don’t come when we’re open,” said Rolf Halverson, director of operations at Goodwill Industries of Houston, which has 61 retail stores in Texas. “They come in at 10:00 p.m. or in the middle of the night or run behind the store and drop off a ripped-up sofa. And that adds weight to our trash. So they put the bill on us instead of them.” Read more
Tipsheet Extra
U.S. defended Amazon after article showed company bypassed Indian law
Insurance giant CNA Financial reportedly paid hackers $40M in ransom
New BJ’s CEO Faces Up to Coming Comp Challenges
Nike partners with Customs and Border Protection to stop the influx of counterfeit goods
Amazon Introduces New Mental Health Benefit for U.S. Employees and Their Families
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