Tipsheet: McMillon @ CNBC | #1 Service: Costco/Publix/Wawa | Macy’s New CFO
THIS MORNING – Walmart CEO @ CNBC – urges Congress to get a stimulus deal done “If I could change one thing about our business right now, it would be to have an even higher in-stock level,” (McMillon) said. “We’re trying to make sure we’re ready to go all the way to Christmas and beyond, but we’ve still got some recovery to do.” Read more
Walgreens Boots Alliances Q4 sales +2.3% Press release
…Walgreens returns to profitability as business rebounds at Fox Business. “Retail pharmacy sales in the U.S. grew 3.6% from last year to $27 billion amid improved retail sales and prescription trends. International pharmacy sales totaled $2.3 billion, down 15%, largely due to weakness in the U.K. Retail same-store sales in the U.K were off 29%…” Read more
America’s Best Customer Service Companies at Newsweek
Brick & Mortar:
- #1 C-Store – Wawa
- #1 Perfume/Cosmetics – Bath & Body Works
- #1 Pharmacy/Drugstore – Giant Eagle
- #1 Supermarket – Publix
- #1 Superstore/Club – Costco
Tiffany touts recovering sales as legal battle with LVMH drags on at Reuters. “Tiffany & Co said on Thursday sales have been rising through October…sales in Mainland China were “extremely strong” and its business was recovering in the United States after being hit earlier in the year.” Read more
U.S. gun sales soar amid pandemic, social unrest, election fears at Reuters. “Eight of the top 10 all-time weeks for background checks have happened this year, according to NICS data that goes back to 1998…Online auction sites for guns and ammunition have seen prices skyrocket. Bootstrapping entrepreneurs are hitting estate sales looking for gun collections to resell.” Read more
Kroger’s Simple Truth brand to feature more than 75 plant-based foods and beverages by the end of 2020 Press release
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Macy’s Names New CFO at Wall Street Journal. “…named Adrian Mitchell as CFO, effective Nov. 2, replacing interim finance chief Felicia Williams, who had been in the role since June 1. Mr. Mitchell joins Macy’s from Boston Consulting Group, where he currently serves as a managing director and partner in its digital and consumer practices.” WSJ subs.
Plenty has raised over $500 million to grow fruits and veggies indoor at TechCrunch. “Plenty’s more direct competitor, Bowery Farming, is expanding its retail footprint to 650 stores, even as Plenty touts its deal with Albertsons to provide greens to 431 stores in California.” Read more
Amazon reaches deal to broadcast one of two new NFL wildcard games added to the schedule this season at GeekWire. Read more
BAD TIMING – Barnes & Noble has had days of disruption to its Nook e-reader service at Fast Company. “The outage came at perhaps a particularly awkward time for the bookstore chain, as archrival Amazon offered discounts on Kindle e-readers and other products during its annual Prime Day sale.” Read more
Walmart Media Group’s pitch deck reveals how the retail giant is presenting its digital marketing power to brands Ad Age Subs.
Bed, Bath & Beyond to sell Christmas Tree Shops, other brands at Fox Business. “Handil plans to continue operating Christmas Tree Shops (80 stores) as a stand-alone retail brand…Linen Holdings business will be sold to The Linen Group, LLC.” Read more
Alibaba-affiliated marketplace to leave Taiwan, again at TechCrunch. “Separated by a strait, the internet in Taiwan and mainland China are two different worlds. Even mainland tech giants Alibaba and Tencent have had little success entering the island, often running into regulatory hurdles.” Read more
Chinese retailer Miniso to raises $608 million in IPO at AP. “The company has over 3,000 stores globally, more than 60% of them in mainland China…stores typically sell a range of goods, from cosmetics to small household appliances, mostly crafted by an in-house team of designers. The company positions itself as a retailer that sells high-quality products at an affordable price.” Read more
Dr. Fauci suggests canceling Thanksgiving gatherings at NY Post. “The 79-year-old top infectious diseases doctor told “CBS Evening News” on Wednesday that his three children will not be coming home for the holiday because his age puts him at increased risk.” Read more
Tipsheet Extra
High-end air filtration systems are more popular than ‘toilet paper in April’
Turning a dead mall into a warehouse will slash its value as much as 90%: Barclays
Amazon bans ‘What Killed Michael Brown?’ documentary, director says
BP raises $500 million from sale of UK petrol station leases
Heineken forced pubs to sell ‘unreasonable’ amounts of beer
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