Tipsheet: Wayfair +20% | Amazon’s Fashion a ‘Bore’ | Carter’s -12%
Wayfair Q1 Net Revenue Growth of 20% Year over Year to $2.3 billion Press release
JC Penney goes to court to try to stop Sephora from pulling out of the troubled chain’s stores at CNBC. “Sephora and Penney have had a joint enterprise operating agreement since Feb. 1, 2009, according to the April 27 court filing. Sephora was found to have “threatened imminent termination” of the contract, which would cause Penney to suffer “irreparable injury,” including a loss of business opportunities, the filing said.” Read more
Carter’s Q1 net sales -12% Press release
California to reopen many retailers Friday, loosen rules on rural counties at Politico. “As early as the end of this week you will have the capacity as a retailer” to carry out transactions through curbside pickups, Newsom said, citing clothing, bookstores, music, toys, sporting goods stores, florists with Mother’s Day coming up.” Read more
Lowe’s is the latest retailer requiring workers to wear masks during coronavirus at Charlotte Observer. “Lowe’s also is adding another $80 million in bonuses for hourly workers this month. Each full-time employee will receive $300, and part-time and seasonal workers will get $150.” Read more
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3 charged in killing of Family Dollar store security guard over virus mask at AP. “Calvin Munerlyn was shot Friday at the store just north of downtown Flint a short time after telling Sharmel Teague’s daughter she had to leave because she lacked a mask…Teague, 45, argued with Munerlyn, 43, before leaving. Two men later came to the store.” Read more
…Slain Family Dollar security guard mourned at candlelight vigil at M Live. “He always liked to stay on the go all the time, so I called him Duper, super duper,” she said with a laugh during a candlelight vigil Sunday night that drew roughly 150 people.” Read more
Man wipes nose on Dollar Tree store worker’s shirt after being told to wear mask at Fox Business. “When the clerk told the man he needed (a mask), police said he walked over and said “Here, I will use this as a mask” before wiping his face and nose on the face of the clerk’s shirt.” Pic/Read more
Tractor Supply Beats Amazon to the Heartland at Bloomberg. “We’ve been working on this for the past couple of years, so we had infrastructure in place that allowed us to scale,” Robert Mills, Tractor Supply’s strategy and technology chief, told me. To pull it off, Tractor Supply partnered with Roadie, an Atlanta-based delivery platform with deep inroads in rural America.” Tiered subs.
Mall Owner That Spent Big to Modernize Faces Bill as Stores Sit Closed at Wall Street Journal. “Pyramid Management Cos. of Syracuse, N.Y., which owns and operates 14 properties in New York and Massachusetts, said it has invested hundreds of millions of dollars in recent years to make its retail centers about more than shopping.” WSJ subs.
Amazon VP says he quit over company ‘firing whistleblowers’ at CNN. “I quit in dismay at Amazon firing whistleblowers who were making noise about warehouse employees frightened of Covid-19,” Bray wrote in a lengthy blog post published on his website.” Read more
Shares of parent of Victoria’s Secret crater after effort to sell itself falls through at CNBC. “L Brands shares tumbled 15% in extended trading Monday after the company announced it struck an agreement with Sycamore Partners to terminate its Victoria’s Secret deal.” Read more
Germany to reopen all shops, allow soccer matches: sources at Reuters. “The state premiers are expected to give the green light for large shops to reopen, probably from May 11, the sources said. Smaller shops are already back to business in Europe’s largest economy…” Read more
Starbucks says 85% of its US stores will reopen this week
On Amazon’s ‘Making the Cut,’ Fashion Is a Total Bore at Wall Street Journal. “…“Making the Cut” is a predictable reality program, strategically edited to confound expectations. The contestant who limps her way through the challenge dramatically emerges as its victor, while the contestant who oozes ego and confidence falls on his face.” WSJ subs.
FreshDirect co-founder Jason Ackerman said surge in online grocery shopping has led to more venture capital deals at CNBC. “Grocers and delivery services, such as Instacart and FreshDirect, have struggled to ramp up to meet that sudden increase in demand. Ackerman said the challenges have underscored the need for more investments in infrastructure to speed up order fulfillment, lower costs and improve the experience for customers.” Read more
Tipsheet Extra
Meat Shortages Leave Wendy’s Diners Asking, ‘Where’s the Beef?’
Man who wore KKK hood at grocery store may be charged with hate crime
Kroger’s store brands know how to party
Walgreens Amps Up Drive-Thru Grocery Program
Winners of 2020 Pulitzer Prizes
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