Tipsheet: H.Depot +25% | Ethical: B.Buy & Kohl’s | Bezos Eyes NFL Team
Home Depot Q4 U.S. comp sales +25.0% “…if the demand environment during the back half of fiscal 2020 were to persist through fiscal 2021, it would imply flat to slightly positive comparable sales growth and operating margin of at least 14 percent,” said Richard McPhail, executive vice president and CFO.” Press release
…In year of pandemic, Home Depot became supplier to millions at AP. “Neil Saunders, the managing director of GlobalData, calculated that in 2020 the equivalent of every single person in the United States spent $402 at Home Depot. “It is easy to look at Home Depot’s numbers and chalk up its success to the pandemic,” Saunders said Tuesday. “However, sustaining three quarters of growth above 20% is extremely difficult in terms of the pressure it puts on the whole operation from supply chains to stores.” Read more
December home prices rose 10.4%, the biggest gain in 7 years, Case-Shiller says at CNBC. “Prices in Phoenix rose 14.4% year-over-year price. In Seattle, they rose 13.6% and San Diego saw a 13.0% increase…’These data are consistent with the view that Covid has encouraged potential buyers to move from urban apartments to suburban homes…,’ added Lazzara.” Read more
Macy’s Q4 comp sales -17.1% Press release
…Macy’s forecasts upbeat 2021 sales on stimulus checks, online shoppers at Reuters. “Macy’s Inc forecast 2021 sales largely above Wall Street estimates on Tuesday as the retailer bets on its growing online business and on the COVID-19 vaccine rollouts allowing customers to return to its department stores after pandemic curbs.” Read more
Dollar General takes steps to find possible CEO successor, sources say at CNBC. “While no decision has been made about (CEO) Vasos stepping down, Dollar General has started conversations with headhunting firms and is considering candidates, the sources said. Dollar General has been looking within its ranks…Dollar General Chief Operating Officer Jeff Owen is under consideration, one of the sources added.” Read more
Dillard’s Q4 comp sales -17.0% Press release
Jeff Bezos Linked to Washington Football Team Sales Talk at Front Office Sports. “Bezos’ attorney spoke with Baltimore-based sports investment banking firm Moag & Co., which led the effort to sell a chunk of the team, according to court documents obtained by Front Office Sports.” Read more
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Walgreens Launches Nationwide Rollout of Same-Day Delivery with Instacart Press release
MyPillow CEO Mike Lindell says he expects to lose $65 million in pillow revenue this year because of retailer boycotts at Business Insider. “I lost 20 retailers, and it’s cost me $65 million this year that I won’t get back, OK?” Lindell told Insider. “There’s your story. Print it right. Don’t try and twist this.” Read more
The 2021 World’s Most Ethical Companies® Honoree List (Best Buy, Kohl’s) at Ethisphere. List
Observant Jewish vendors squeezed by Amazon’s 6-day-a-week shipping requirement at The Times of Israel. “Orthodox sellers make up a disproportionate share of third-party sellers, according to a 2019 Buzzfeed report that explored the connections between Amazon’s marketplace and Orthodox communities.” Read more
Best Buy, UnitedHealth partners in $1M marketing fellowship program to boost diversity Minneapolis Star Tribune subs.
Retailer Century 21 planning comeback bid both nationally and internationally at Fox Business. “The 60-year-old retailer — whose lower Manhattan flagship famously survived the 9/11 terrorist attacks, only to be shuttered last fall as the coronavirus forced the company into bankruptcy — is plotting a return to its hometown of New York City, as well as a nationwide expansion that could result in a footprint that’s bigger than before.” Read more
Tipsheet Extra
Meijer’s small format Detroit store sets goal of 2,000 local items upon opening
10 grocers earn perfect scores for LGBTQ+ equality
Businesses complain about Chick-fil-A’s massive drive-thru lines
JPMorgan Chase taps $30B to advance racial equity
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