Tipsheet: Rite Aid Rockets | Impulse Buy Bye | Amazon 1st in US Union?
Rite Aid Q3 comp sales +4.3% (6.1% increase in pharmacy sales / 0.7% decrease in front-end sales) Press release
…Rite Aid’s stock rockets after big profit beat, raised outlook at MarketWatch. “For fiscal 2021, the company revised its revenue guidance to $23.9 billion to $24.2 billion from $23.5 billion to $24.0 billion, its same-store sales growth view to 3.5% to 4.5% from 3.0% to 4.0%.” Read more
Amazon asks U.S. to include warehouse, grocery staff in vaccine rollout at Reuters. “The U.S. National Retail Federation made a similar request on the industry’s behalf Wednesday as well.” Read more
BarkBox to Go Public in $1.6 Billion Deal at MarketWatch. Read more
Amazon Alabama Workers Get Chance for First-in-U.S. Union at Bloomberg via Yahoo Finance. “An organizing drive became public last month when representatives of the Retail, Wholesale and Department Store Union filed paperwork for an election to represent 1,500 frontline workers at the warehouse in Bessemer, Alabama. None of Amazon’s hundreds of thousands of employees in warehouses across the U.S. is represented by labor unions.” Read more
FDA says Pfizer vaccine vials hold extra doses – using every drop from overfilled vials could boost available doses by up to 40 percent at Politico. Read more
Amazon Has Turned a Middle-Class Warehouse Career Into a McJob at Bloomberg. “A Bloomberg analysis of government labor statistics reveals that in community after community where Amazon sets up shop, warehouse wages tend to fall. In 68 counties where Amazon has opened one of its largest facilities, average industry compensation slips by more than 6% during the facility’s first two years, according to data from the Bureau of Labor Statistics.” Tiered subs.
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Fed raises its economic outlook slightly, sees 4.2% growth next year and 5% unemployment rate at CNBC. “Core PCE inflation is expected to come in at 1.4% this year, down slightly from September’s projection of 1.4%. Next year, core PCE inflation is estimated to reach 1.8%, up from September’s forecast of 1.7%.” Read more
Forbes: These Are The Richest Families In America – #1 Walton Family, #15 Butt Family Top 50 list
New Ad Fraud Scheme Highlights a Growing Problem for Streaming TV at Wall Street Journal. “Based on an estimated average cost of $20 to deliver a thousand consumer impressions in connected TV viewing, the swindlers likely stole $14.5 million over the last four months, according to Derek Wise, chief product officer of Oracle Data Cloud.” WSJ subs.
Study Shows Rebound In Grocery Shopping Satisfaction at Retail Feedback Group. “Compared to April, nearly all the core experience factors for supermarkets improved, with the sharpest increases seen on a five-point scale, where five is highest, in variety/selection (4.25, up from 4.00) and value for money (4.10, up from 3.93). Overall satisfaction improved to 4.23 from 4.08.” Press release
Amazon’s Project Kuiper reveals details on customer terminals for satellite internet at GeekWire. “The $10 billion project, which aims to put more than 3,200 satellites into low Earth orbit, will use an innovative type of phased-array antenna that overlays one set of tiny elements on top of another set, Amazon said today in a blog posting.” Read more
As holiday shoppers pull back on impulse buys, online retailers are forced to crack a retail riddle at CNBC. “Impulse shopping usually drives 25% of overall holiday spending, according to The NPD Group. This year, it’s expected to drive 18% to 20% — a potential loss of $5 billion to $7 billion in sales for the season, the market research firm estimates.” Read more
Amazon extends time and increases places for returns at MarketWatch. “For items shipped between Oct. 1 and Dec. 31, customers can make returns until Jan. 31. And at more than 500 Whole Foods Market stores nationwide, Amazon is offering a “box-free, label-free” return option.” Read more
Tipsheet Extra
A new satellite can peer inside buildings, day or night
Mom killed on the job by illegally installed elevator at Manhattan supermarket
Lab-grown meat to make historic debut at Singapore restaurant
53% of consumers report pandemic permanently changed shopping habits
Five Below teams up to give 1,000 holiday gifts to Philly kids in need
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