Lord & Taylor explores bankruptcy as stores remain shut in coronavirus pandemic at Reuters. “It is one of several options that the retailer and its advisers are exploring…some of the sources said, adding that no final decisions have been made. Fashion rental service start-up Le Tote acquired Lord & Taylor last year from Saks Fifth Avenue owner Hudson’s Bay Company for C$100 million.” Read more
‘It’s Black Friday in April’ as Closed Stores Get Desperate to Unload Spring Clothes by Suzanne Kapner at Wall Street Journal. “Retailers are discounting heavily on their websites, but consumers aren’t rushing to buy spring clothes. Off-price chains like T.J. Maxx that would normally snap up the excess are also closed. Liquidators, often a last resort, are already saddled with goods from bankrupt retailers that have halted their going-out-of-business sales.” WSJ subs.
Georgia, Tennessee and South Carolina Move to Reopen at NY Times/MSN. “Residents of Georgia will be allowed on Friday to return to the gym and get haircuts, pedicures, massages and tattoos. Next Monday, they can dine again in restaurants and go to the movies.” Read more
Some Amazon workers plan to not show up for the job this week as part of labor actions at USA Today. “Hundreds of warehouse workers pledged to call out from their jobs starting Tuesday, according to Athena, a coalition of local and national organizations representing workers. Another mass sickout among tech workers is planned for Friday and has been organized by the group Amazon Employees for Climate Justice.” Read more
Progressive Leasing, which offers rent-to-own programs at major retailers like Best Buy and Lowe’s, has agreed to pay $175 million to settle allegations it misled consumers by Abha Bhattarai at Washington Post. “The FTC also took issue with the way Progressive Leasing instructs retail workers to pitch the program to consumers in widely distributed training materials…” Tiered subs.
True Value Company Announces CEO Transition “Chief Commercial Officer, Chris Kempa, has been promoted to Chief Executive Officer and the current Chief Financial Officer, Deb O’Connor will become President and CFO. John Hartmann, who has served as Chief Executive Officer since 2013, will transition his responsibilities in May and remain a Director on the Company’s Board.” Press release
Walmart is selling its on-demand video service Vudo to Fandango by Sarah Perez at TechCrunch. “To date, the Vudu app on mobile has been installed more than 14.5 million times. As a part of the agreement, Vudu will continue to power Walmart’s digital movie and TV store on Walmart.com.” Read more
**A message from Comfy Sacks bean bag chairs – Consumers want to be comfy at home – especially now! Sales on premium bean bags filled with superior quality furniture grade foam are up sharply. See why Apple chose Comfy Sacks to outfit their corporate HQ. Booklet | Video | Website | Request sample bag: email@example.com
Rite Aid Expands COVID-19 On-site Testing: 24 Locations Now Open Across Eight States Press release
Whole Foods is reportedly using a heat map to track stores at risk of unionization by Jay Peters at The Verge. “The heat map apparently uses more than two dozen different metrics to track which Whole Foods stores may unionize. The heat map focuses on monitoring three main areas: “external risks,” “store risks,” and “team member sentiment,” according to Business Insider.” Read more
Dollar General now in 46 states – opens first store in Washington State Press release
Cub bucks trend, making 11 more stores open 24 hours by John Ewoldt at Star Tribune. “For shoppers who worry that longer hours can make cleaning more difficult in a store that never closes, Stigers said that expanding the number of locations operating 24 hours increases social-distancing options for customers and provides additional shopping opportunities to first responders and medical personnel who work varied shifts.” Read more
Couche-Tard Drops Bid for Caltex Due to COVID-19 Uncertainty at Convenience Store News Read more
Retailers Want Trump’s COVID-19 Duty Relief To Go Further by Alex Lawson at Law 360. “The administration rolled out a new policy…that allows importers…to delay the payment of certain tariffs for up to 90 days…But the policy applies only to standard U.S. tariffs, not remedial duties or the extra levies Trump has placed on steel, aluminum and scores of Chinese products. The policy also applies only to imports made in March and April, further winnowing the scope of overall relief.” Read more
Jeff Bezos buys a $16 million apartment in New York
Iowa sends National Guard to defend meat plants from virus
Levi’s partnered with TikTok on social commerce and doubled its product views
The US Postal Service is in trouble. What does that mean for FedEx?
Chip and Joanna Gaines’ Magnolia Network launch delayed by COVID-19
Eye on Retail Tipsheet is must-read material for retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.
Subscribe to Eye on Retail Tipsheet here
Contact us: Put your product or service in front of the most powerful retail execs in the world, send advertising inquiries to firstname.lastname@example.org