Tipsheet: Roz to Wgreens | Tiffany’s Overhaul | Can.: 17.3% w/Covid @ Retail
Walgreens taps Starbucks operating chief Roz Brewer as its next CEO at CNBC. “As CEO of Walgreens, Brewer will be the only Black woman leading a Fortune 500 company…Walgreens shares rose nearly 8% in extended trading on the news.” Read more | Press release
Instacart Survived Covid Chaos — But Can It Keep Delivering After The Pandemic? at Forbes. “I’m playing a 20-year game,” (Mehta) says, sporting a T-shirt in his sun-filled home office north of San Francisco, when asked about Instacart’s IPO and the CFO he hired away from a 20-year stint at Goldman Sachs to help with it. He happily shifts the conversation to the long term. “Grocery is the largest retail category in the world, and yet it’s still not digitized. We’re excited by what the future looks like.” Read more
GameStop stock doubles again with no let-up in amateur interest at Reuters. “Shares of videogame retailer GameStop Corp surged another 130% on Wednesday in pre-market trading as amateur investors continued to pile into the stock that has skyrocketed nearly 700% over the past two weeks.” Read more
Walmart ramps up automated fulfillment at local stores at CNBC. “When an order comes in, automated bots will travel up and down, left and right, to retrieve items from chilled groceries to electronics and bring them to an employee at a picking station to help assemble. At the same time, personal shoppers will handpick any fragile or unwieldly items on the sales floor…” Read more
Amazon invests in startup producing ‘net-zero carbon fuels’ for transportation at GeekWire. “Infinium’s electrofuels solution has real potential to help decarbonize transport that carries heavier loads and travels long distances, including air and freight, as well as heavy trucks,” Kara Hurst, Amazon’s vice president of Worldwide Sustainability, said in a statement.” Read more
Zero, a plastic-free grocery-delivery startup, to launch in LA at TechCrunch. “In total, Zero founder and CEO Zuleyka Strasner says there are just over 1,100 different items available in the store. That’s partly because of the leg work that’s required to ensure the food manufactures are meeting Zero’s internal standards for packaging.” Read more
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Kroger is testing an all self-checkout store on Cedar Springs Road in Dallas Dallas Morning News subs.
Americans won’t be rushing to retail stores to shop after getting Covid vaccine, survey finds at CNBC. “Forty-four percent of respondents said they’ll visit stores the same or less to buy footwear post-vaccination, while 45% said they would visit stores the same or less for beauty products, 41% said this about luxury items, and 43% for electronics.” Read more
Target and Levi Strauss & Co. Level Up with Limited-Edition Lifestyle Collab at A Bullseye View. “…more than 100 items crafted with durability and sustainability in mind, including gear for your home and pets and apparel and accessories that are made to last—all landing just in time for a spring refresh on February 28.” Read more
Metro Q1 comp sales: Food +10.0% / Pharmacy +1.3% Press release
Canadian grocers grapple with rising COVID-19 cases as second wave sweeps country at Financial Post. “Toronto Public Health has also noticed an increase in the number of cases among people who work “in a retail setting,” which includes grocery stores. According to survey data, 17.3 per cent of people who tested positive for COVID-19 between Dec. 27 and Jan 9 reported working in retail, up from 10.7 per cent between Sept. 28 and Dec. 12.” Read more
Starbucks Q1 global comp store sales declined 5% Press release
Tiffany’s lineup set for a major overhaul under new owner LVMH at Reuters/NY Post. “…to increase the focus on gold and precious gems and take its silver bangles upmarket…Six sources, including two people with inside knowledge of Tiffany’s operations, told Reuters the owner of Louis Vuitton would also likely revamp the appearance of the jeweler’s stores and boost its presence in Europe and Asia.” Read more
Tipsheet Extra
AT&T is sued for $1.35 billion over technology to synchronize smart devices
Jeff Bezos demands his girlfriend’s brother pay his $1.7M legal fees
Home Depot employee stole $156K in gift cards
America’s top malls have seen their value decline 45% from 2016 levels
Champagne loses its fizz as pandemic hits sales
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