Tipsheet: N.J. Bans Paper Bags? | Amazon Tips Disappear | Costco +14.1%
Costco Q4 comp sales (ex-fuel & f/x) +14.1% / Ecom +91.3% “Net income for the fourth quarter was $1.389 billion, or $3.13 per diluted share, compared to $1.097 billion, or $2.47 per diluted share last year.” Read more
Costco not planning curbside grocery pickup at Fox Business. “We don’t have our head in the sand on it, we look at it, we have people here who study it, maybe we’ll surprise you one day but at this juncture, we are not prepared to do that,” (CFO Galanti) said during the Q&A portion of the company’s earnings call Thursday.” Read more
Rite-Aid Q2 revenues +11.5% “Retail Pharmacy Segment…same store sales from continuing operations for the second quarter increased 3.5 percent over the prior year period, consisting of a 4.6 percent increase in front-end sales and a 2.3 percent increase in pharmacy sales.” Press release
U.S. imports surge as pandemic worries have retailers stockpiling at Reuters. “U.S. imports leapt 5.9% to a record in August, the first year-over-year rise since September 2019, according Panjiva, the supply chain research unit of S&P Global Market Intelligence. It said imports of household appliances jumped 79.7%, and furniture imports increased 38.1%, fueled by orders from retailers like IKEA and Target.” Read more
Orders for big-ticket US manufactured goods up weak 0.4% at AP. “The Commerce Department reported Friday that the August advance marked the fourth consecutive increase but was far lower than the 11.7% surge seen in July.” Read more
Amazon is expanding its virtual care program, to become available to all of its employees in Washington state at Business Insider. Read more
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Now it looks like even paper bags will be banned from N.J. supermarkets at North Jersey. “The most wide-ranging ban on plastic products and paper bags in the U.S. is only a step away from becoming law in New Jersey…The Assembly and Senate passed a bill Thursday…It will now go to Gov. Phil Murphy, who signaled support for a statewide plastics ban two years ago…” Read more
Many Amazon delivery drivers say tips have disappeared at Seattle Times. “Many of Amazon’s contract delivery drivers were not paid tips from customers for grocery deliveries, some for as long as 10 days, leaving them out several hundred dollars. It’s the third time this year an apparent glitch in Amazon’s system has deprived perhaps tens of thousands of workers of the majority of their income from delivering groceries for the commerce giant.” Read more
Target Introduces New Approach to Holiday Staffing “Target will hire extensively, with seasonal team members receiving an industry-leading starting wage of $15 and coronavirus health and wellness benefits.” Read more
Amazon’s new Ring drone stops the world’s most hapless thief in new ad at The Verge. “Ring’s flying drone camera, the Always Home Cam, was easily the most surprising hardware announcement at today’s Amazon event. It won’t actually be available until next year, but the company has already put together a short ad…” Spot/Read more
Tipsheet Extra
Amazon’s fall hardware event: the 13 biggest announcements
Costco’s new hard seltzer has White Claw fans doing a double take
The Air Force now has its own tattoo shop
Retailers have started paying rent again but are still fighting with their landlords
Coronavirus has transformed how we think about dinner, these 3 trends will stick
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