Tipsheet: Home Projects +35% | Costco +12.3% | Amazon Extends Returns
Costco March comp sales (excluding gas & f/x): Overall +12.3% / Ecom +49.8% / US +12.1% / Canada +7.2% / Other Int’l +19.2% Press release
…Costco Wholesale’s sales soared in March – but well below the 24.1% average estimate compiled by Consensus Metrix at Bloomberg via Seattle Times. “It was still the biggest monthly gain in at least seven years, according to data compiled by Bloomberg…The top-selling category in March by far was food, up about 35%, while sales of general-merchandise items like apparel, luggage and lawn and garden declined, Costco said on the call.” Read more
Costco set to open new store in China’s Suzhou city at Reuters. “Costco’s subsidiary in Suzhou on Thursday bought a piece of land in Suzhou New District at a cost of more than 142.5 million yuan ($20.2 million), according to the management committee of Suzhou New District.” Read more
Amazon is temporarily extending its return policy due to the pandemic at The Verge. “If you live in the US or Canada, most items ordered on Amazon between March 1st and April 30th can be returned until May 31st, 2020.” Read more
Farmers Deal With Glut of Food as Coronavirus Closes Restaurants at The Wall Street Journal. “Farms are plowing under hundreds of acres of vegetables in prime U.S. growing regions like Arizona and Florida. Chicken companies are shrinking their flocks, to curb supplies that could weigh on prices for months to come.” WSJ subs.
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The Buckle March net sales -50.2% Press release
Nordstrom warns financial situation could become distressed because of coronavirus-related store closures at CNBC. Read more
Senate Democrats grill Amazon on warehouse worker firing, COVID-19 procedures by Monica Nickelsburg at GeekWire. “The letter points to leaked meeting notes written by Amazon General Counsel David Zapolsky in which he called Smalls “not smart or articulate” and sought to make him the face of the labor movement in New York facility.” Read more
Dick’s Sporting Goods is furloughing most of its 40,000 employees at CNN. Read more
Instacart’s new features make it easier to get groceries delivered in a crisis at The Verge. “Fast & Flexible is designed for people who need their shopping as soon as possible. Selecting the option matches orders with the first available Instacart shopper, rather than pegging it to a specific delivery window like normal.” Read more
Lowe’s, other retailers closing early on Easter Sunday to give workers a break at The Hill. Read more
A student created a computer program that tells you when an Amazon Fresh or Whole Foods delivery slot opens up at CNBC. “Hertel told me he built it because he was worried about his parents, both of whom have immune deficiencies. “They hadn’t been able to get grocery slots for days,” Hertel said. “I wanted to create a solution so they wouldn’t expose themselves.” Read more
Home Improvement projects surge as coronavirus shutdown keeps residents inside at Fox Business. “Approximately 44 percent of Americans have or are giving their home a fresh coat of paint within the next few months…about 35 percent of people, are in the process or are planning to do a home improvement project over the next three months.” Read more
Tipsheet Extra
Trash collectors overwhelmed by rising amount of household waste
Ahold Delhaize U.S. sales up 34% in March
U.S. Senator: Grocers’ COVID-19 measures not enough
Single parents “frustrated” by Menards not allowing children under 16 inside
Thais queue for booze before 10-day alcohol ban in Bangkok
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