Kroger Q4 identical sales (ex-fuel) +10.6% Press release
BJ’s Wholesale Q4 comp sales (ex-gas) +15.9% “Adjusted EBITDA increased 36.1% year-over-year to $204.5 million, for the fourth quarter of fiscal 2020.” Press release
Burlington Stores, Inc. Q4 comp sales flat “Michael O’Sullivan, CEO, stated, “We saw comparable store sales improve sequentially as the quarter progressed, starting with a double digit decline in November, improving to flat in December, and then accelerating to double digit growth in January.” Press release
…Burlington has increased its long-term store target to 2,000 stores, up from its previous store target of 1,000 stores…The Company operated 761 stores as of the end of the fourth quarter of 2020.
Walmart’s Flipkart in early talks for U.S. listing via SPAC deal – sources at Reuters. “…although a traditional stock market listing is much more likely, people familiar with the matter said. The talks for a deal with a special purpose acquisition company (SPAC) are at a very early stage and could fall apart as no plans have been finalized yet, said the people, who declined to be named as the information is confidential.” Read more
The Buckle, Inc. February comp sales up 5.3% Press release
Disney to close at least 60 Disney Stores in North America before end of year at USA Today. “That amounts to about one-third of the stores in North America; there are about 300 worldwide.” Read more
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Bed Bath & Beyond bets on in-store brands to revitalize business at Fox Business. “Bed Bath & Beyond CEO Mark Tritton, who employed a similar strategy during his stint as a merchandising executive at Target, said the plan represented the “most significant transformation of our product assortment in a generation.” Read more
Amazon in Talks to Carry Many NFL Games Exclusively on Prime Video at Wall Street Journal. “Fox Corp.’s annual average fee for its Sunday afternoon games is expected to jump to around $2 billion from the current $1.1 billion, the people familiar with those negotiations said. ViacomCBS Inc. likely will see its average fee per season of Sunday afternoon games go from $1 billion to the $2 billion range, the people said.” WSJ subs.
Walmart says it will spend an additional $350 billion on American-made products over the next decade at CNBC. Read more
Gap Inc. appoints former Disney exec Salaam Coleman Smith to its Board of Directors Press release
Costco, Amazon and Apple Take Top Spots in Verint Retail Customer Satisfaction Study “Costco received the highest score related to trust (86.5) and company recommendations (87.4). Amazon received the highest satisfaction score for online purchases (87.7) and returns online (87.7), while Apple came in third for satisfaction (85.1). Costco also received the highest NPS ranking and scored well in multiple satisfaction drivers, including service, price and merchandise.” Press release
Lowe’s Announces Stores will Close on Easter Sunday, April 4, for a Second Year Press release
The first Home Depot proposed for Mission Valley, CA is facing opposition at San Diego Union-Tribune. “Bruce Coons, leader of the Save Our Heritage Organisation , said his group lobbied city officials to preserve the Bowlero building, which was a popular bowling alley from 1957 to 1964. “A lot of people have fond memories of it,” said Coons.” Read more
Overtime is starting a basketball league for 16-to-18-year-olds that pays at least $100K a year
Square, Inc. is buying a majority stake in Jay-Z’s streaming service Tidal
Kate Spade announces new structure for creative organization
Downstream, which helps brands with their Amazon ads, acquired by Jungle Scout
Alamo Drafthouse Files for Chapter 11
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