Tipsheet: Wayfair +45% | Target HQ RTW Fall | Ellen Applauds H-E-B | B.Buy +12.6%


Best Buy Q4 enterprise comp sales +12.6% Press release


…Best Buy’s Q4 earnings beat Wall Street’s expectations, but fell short on revenue at CNBC. “Chief Financial Officer Matt Bilunas said same-store sales are expected to range from a drop of 2% to a gain of 1% this year.” Read more


Wayfair Q4 net revenue +45% Press release


Gap to invest $140 million to build Texas warehouse as online sales swell at CNBC. “The Longview, Texas, warehouse will be able to process 1 million packages per day. Gap plans to derive half of its sales from the internet by 2023, as more Americans shift their spending online.” Read more


Orders for U.S. durable goods climb 3.4% in January (triple what economists had expected) at AP. Read more


Best Buy Workers Powered Through Covid-19 Pandemic. Then They Lost Their Jobs. at Wall Street Journal. “Some store workers said layoffs seemed counterintuitive after a few quarters of strong growth and difficult conditions for employees. “The last six months, it’s been rough,” said Richard Canepa, a 23-year-old who has worked at Best Buy in Louisiana for five years, most recently as a full-time sales adviser.” WSJ subs.


Camping World Holdings Q4 revenue +17.5% Press release


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Target to add ‘enhanced Apple shopping experience’ to select stores, online. at USA Today. “…a new “enhanced Apple shopping experience” debuts online and will begin rolling out this month to 17 stores across the country and is scheduled to arrive in additional stores by the end of fall.” Read more


Lowe’s Q4 Earnings Call Transcript


Best Buy tests smaller shopping areas to focus on e-commerce at BNN Bloomberg. “The company plans to shift stores in one or two more markets to the new setup, reducing square footage used for shoppers to about 15,000 square feet from an average of 27,000 square feet, said the people, who asked not to be identified because the move hasn’t been announced.” Read more


Nearly 60% of more than 30,000 U.S. adults polled would like to have an Amazon Go in their area at Supermarket News. Read more


Sports retailer Fanatics enters China via venture with Hillhouse Capital at Reuters. “China has been a market we followed for a while, and we’ve been meeting with multiple partners in China trying to figure out how we approach it in the best way,” Zohar Ravid, Fanatics’ head of international corporate development, told Reuters. “The interest overall in the country around European football, and American sports, is growing.”” Read more


Ellen applauds H-E-B’s $1 million donation to Texas food banks in storm aftermath at My San Antonio. Read more


Amazon reportedly told workers to ‘Vote NO’ in a historic union election and to drop ballots in a USPS mailbox that recently appeared at their Alabama warehouse at Business Insider. “One worker told Motherboard that she feels as though Amazon is telling them to vote at the mailbox so higher-ups “can monitor us and gauge how many people are using” it.” Read more


Target postpones return to downtown Minneapolis HQ until fall Star Tribune subs.


Walmart to Louis Vuitton: Woman spent $250K COVID loan on shopping spree, feds say at Charlotte Observer. “If convicted, prosecutors said she faces up to 30 years in prison and a $1 million fine on the wire fraud charges and 30 years in prison and a $250,000 fine on the fraud charges.” Read more


Tipsheet Extra

Barber offering free haircuts to H-E-B employees

Texas party store selling piñatas depicting Ted Cruz on trip to Cancun

Krebs: Checkout Skimmers Powered by Chip Cards

Arkansas Innovation Hub partners w/Best Buy to launch first Teen Tech Center in state

Shopper study: Private brands purchased because they’re preferred

Amazon donating $15M to to create AP computer science course with inclusive focus

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