Tipsheet: WM +4.2% | Saks Gunshot Detectors | Dollar Stores Cause Poverty?
Walmart Q4 comp sales +4.2% in U.S (vs. +3.2% expected) at CNBC. “Online sales were up 43 percent during the fourth quarter, matching growth during the previous quarter. Walmart said that, for the year, it achieved e-commerce sales growth of 40 percent, which it had been targeting.” Read more
Payless ShoeSource plans to close all of its about 2,500 locations in the U.S. and Canada by Nathan Bomey at USA Today. “Some stores will be closed by the end of March, while “many” will remain open through the end of May…Payless locations in about three dozen other countries, including 420 company-owned stores and 370 international franchisee stores, will remain open.” Read more
Etsy error resulted in money being withdrawn from several sellers’ bank accounts and credit cards by Catherine Shu at TechCrunch. “…sellers began noticing amounts ranging from hundreds to tens of thousands of dollars had been withdrawn or charged to those accounts.” Read more
Are dollar stores a response to poverty — or a cause? by Rachel Siegel at Washington Post via St.Louis Post Dispatch. “In cities, dollar stores trade in economic despair, with many residents saying they are a vital source of cheap staples. But as the stores cluster in low-income neighborhoods, their critics worry they are not just a response to poverty — but a cause. Residents fear the stores deter other business..” Tiered subs.
Amazon aims to cut shipment carbon footprint in half by 2030 by Nat Levy at GeekWire. “Last week, Green Peace published a report claiming Amazon’s cloud arm, Amazon Web Services, has not followed through on commitments to make its network of data centers more environmentally friendly. Amazon pushed back on the report…” Read more
British supermarkets could face shortages of fresh food, price rises and less variety if the country leaves the European Union next month without agreeing on trade terms at Reuters. Read more
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Saks Fifth Avenue’s flagship store in New York has gunshot detectors perched over beauty and jewelry counters by Chip Cutter at Wall Street Journal. WSJ subs.
Walmart suppliers improve initiatives supporting Project Gigaton by Kim Souza at Talk Business. “The milestone project involves Walmart’s removing 1 billion metric tons of greenhouse gas from its global supply chain by 2030…The first year of the initiative, Walmart reported reducing more than 20 million metric tons of greenhouse gas in its global supply chain…” Read more
America’s CBD Boom: Brazen Claims, Fake Products, Regulatory Scrutiny by Craig Giammona & Kristine Owram at Bloomberg. Tiered subs.
Bali’s new Starbucks flagship store has its own coffee farm and valet parking at CNBC. “The store includes a nursery, greenhouse and outdoor area where customers can rake coffee beans. It also features digital screens which run interviews with some of its coffee farmers in the region.” Pics/Read more
Amazon’s New Film Strategy: Straight-to-Service Titles and Starry Sundance Buys by Matt Donnelly at Variety. Read more
Burglar crashed his car into the glass doors of an adult novelty shop, then ran inside and stole lingerie and sex toys at AP News. “Pierce says the greater cost is likely the damage to the glass doors.” Read more
The Tragic Side of Tide Pods by Jake Meth at Fortune. “The majority of injuries resolve within 24 hours without long-lasting effects. Still, pods make up 80% of all major injuries related to laundry detergent, according to the American Association for Poison Control Centers (AAPCC), despite accounting for only 16% of the market.” Read more
Tipsheet Extra Stories
Amazon threatens Philadelphia over plan to ban cashless stores
There’s a pizza price war going on and there’s a big loser
New round of U.S.-China trade talks to begin in Washington on Tuesday
Haitians seek water, food as businesses reopen after protest
Amazon starts selling Echo Wall Clock again
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