Tipsheet: WM 4 Ecom Stores | At Home +44% | Sobeys CEO Criticizes WM


Walmart turns four stores into e-commerce laboratories at CNBC. “…employees will use digital tools, store design features and different strategies that could speed up restocking shelves and fulfilling online orders. They will test an app that uses artificial intelligence to scan multiple boxes in the back room rather than one at a time as they move them to the store floor. They will use new store signage and handheld devices to cut down the time it takes to pick an online order. And product and technology teams will be based at the stores to accelerate the pace of prototyping.” Read more


U.S. GDP booms at 33.1% rate in Q3, better than 32% expected Read more


Shopify Q3 Revenue Grows 96% Press release


JCPenney Signs Asset Purchase Agreement with Brookfield, Simon and First Lien Lenders Press release


LVMH and Tiffany end luxury battle at Reuters. “The new takeover price was set at $131.5 a share, down from $135 in the original deal…bringing the total price tag to about $15.8 billion. That represents an overall discount of $425 million for LVMH.” Read more


At Home Group announces preliminary Q3 comp sales increase of approximately 44% Press release


Sobeys CEO is ready for grocers’ code of conduct at Financial Post. “The chief executive of Canada’s second-largest supermarket chain criticized two of his chief competitors on Wednesday for foisting a set of “repugnant” new fees on suppliers. Michael Medline at Empire Co. Ltd. — which owns Sobeys, Safeway and FreshCo — said the fees announced by both Walmart Canada and Loblaw Cos. Ltd. will hurt manufacturers, farmers and smaller grocers, and threaten to drive up prices for consumers.” Read more


Tapestry Q1 net sales down 14%: Coach down 9% / Kate Spade down 21% / Stuart Weitzman down 35% Press release


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Kroger Health Launches COVID-19 Rapid Antibody Testing at Pharmacy Locations Press release


Adobe: Surge in online holiday shopping will pack 2 years of growth into one season at CNBC. “Online sales this November and December are forecast to surge 33% year over year to a record $189 billion.” Read more


CVS Plans to Add Nearly 1,000 Rapid-result Test Sites Press release


Walmart’s Mexico unit launches Walmart Express store format at Reuters/Yahoo. “Walmart’s Mexico unit will open stores under a new “Walmart Express” brand beginning in November, and gradually convert all existing Superama grocery stores to the format…” Read more


100 Fastest-Growing Companies (Etsy #8, Amazon #10) at Fortune. List


Walgreens Extends Relationship with WPP “WPP was first appointed in 2017 as WBA’s global marketing and communications agency…WBA and WPP will now extend their relationship until the end of 2022, with an option to further extend until the end of 2024.” Press release


Rent-A-Center Q3 Business Same Store Sales up 12.9% Press release


Tupperware sees profits quadruple amid COVID-19 closures at NY Post. “The explosion of sales caught almost everyone off guard and shares of Tupperware Brands…spiked 40 percent to a new high for the year. Shares that could be had for around $1 in March, closed in on $30 Wednesday.” Read more


Boot Barn Q2 same store sales decreased 5.1% Press release


Blue Apron Q3 net revenue increased 13% Press release


Best Buy Reveals Black Friday Specials Press release


Target in Hollywood finally open for business after 12 years at ABC 7. Video/Read more


Tipsheet Extra

Rioters hurl fireworks at DC police, loot and smash store windows

Concerned about election unrest, Beverly Hills will close Rodeo Drive

U.S. Gov’t Warns of Imminent, Credible Ransomware Threat Against U.S. Hospitals

Only 32% of Black adults said they would get a Covid-19 vaccine, down from 54% in May

Net income down for Murphy USA on lower fuel sales

Trade Show moves to Indy from Chicago’s McCormick

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