Walgreens Q1 US comp sales: Pharmacy +2.8% / Retail -3.2% Press release
…Walgreens Boots Alliance’s plans $1 billion in cuts, stock drops at CNBC. “Targets will include global spending, organization and digitalization of the business. The initial focus will be on the U.S. and U.K., the company’s largest markets.” Read more
Pier 1 Imports Q3 comp sales -10.5% Press release
…Pier 1 Imports Appoints Cheryl Bachelder Interim CEO “Ms. Bachelder succeeds Alasdair James, who has stepped down from the Company…Ms. Bachelder most recently served as chief executive officer of Popeyes Louisiana Kitchen, Inc. from 2007 to 2017.” Press release
Amazon’s Grocery Push Keeps Stumbling After Whole Foods Purchase by Spencer Soper at Bloomberg. “The number of Amazon Prime members who shop for groceries at least once a month declined in 2018 compared with 2017, according to the results of an annual consumer survey released Wednesday by UBS analysts.” Tiered subs.
Rite Aid Q3 comp sales +1.6% / +3.1% pharmacy sales / -1.5% front-end sales Press release
Walgreens to tackle health-care costs with Alphabet’s Verily at CNBC. “…it is the latest signal from Verily’s parent company Alphabet that it intends to ramp up in the health-care space.” Read more
Trump tariff war with China sends U.S. retailers on buying binge at Reuters. “The strategy could mean heavy discounts for shoppers next year if retailers are stuck with an overhang of unsold merchandise. Already, it has driven up transportation and warehousing costs, which is adding pressure to quarterly results for retailers, according to the sources.” Read more
Shoppers Drug Mart will open a pilot store dedicated to cosmetic dermatology services Press release
How to Spot Fake Amazon Reviews by Joanna Stern at Wall Street Journal. “After all my reporting, my conclusion is that the star system itself is the culprit…” WSJ subs.
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Washington Post offering free Amazon Echo Dot to lure new digital subscribers by Kurt Schlosser at GeekWire. Read more
Best Buy Appoints Eugene Woods, CEO of Atrium Health, to Board of Directors Press release
Blue Apron becomes a penny stock after plunging below $1 by Carleton English at NY Post. “The tumble came after securities filings last week revealed that two company insiders — including co-founder Matt Salzberg and the company’s chief technology officer — had dumped shares earlier this month.” Read more
Analyst estimates that around 50% to 60% of the goods that Home Depot & Lowe’s import from China are on the tariff list at Business Insider. Read more
With Container Ships Getting Bigger, Maersk Focuses on Getting Faster by Costas Paris & Mike Sudal at Wall Street Journal. “It takes 3,000 people working three days in shifts around the clock to load and unload a giant ship that moves 20,000 containers when it stops at one of the world’s biggest ports. Every second counts as thousands of boxes are pulled off or loaded onto the deck.” WSJ subs.
Alexa won’t say what’s in your Amazon packages until 2019, no matter how many times you ask at Business Insider. “Normally, if a certain setting is enabled, Alexa-enabled devices go through a short list of what is in the package when you ask, “Where’s my stuff?”. Read more
FedEx CEO: It’s ‘fantastical’ to think Amazon Air is a threat at MarketWatch. Read more
How Toys for Tots is overcoming Toys R Us closure by Ben Tobin at USA Today. “For the past 14 years, Toys R Us served as Toys for Tots’ top corporate sponsor, raising about $8 million each year in donations and gifts…”Trying to fill that void is a real challenge,” Osman said.” Read more
Amazon error allowed Alexa user to eavesdrop on another home at Reuters. “The customer had asked to listen back to recordings of his own activities made by Alexa but he was also able to access 1,700 audio files from a stranger when Amazon sent him a link, German trade publication c’t reported.” Read more
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