Tipsheet: WM Sells Argentina Operations | CVS New CEO | 60% to Stockpile
Walmart to sell Argentina retail operations at Reuters. “Walmart Inc said on Friday it would sell its retail operations in Argentina to supermarket chain owners Grupo de Narváez. The company did not disclose the size of the deal.” Read more
CVS Health reported a better-than-expected 3.5% jump in Q3 revenue at CNBC. “Prescriptions filled increased 4.6% on a 30-day equivalent basis in the quarter compared with the prior year. Front store revenues increase 2.7% in the quarter compared with the prior year.” Read more
…CVS names female CEO at CNN. “Karen Lynch will be elevated to CEO, making her the 40th female chief executive on the Fortune 500 list…Lynch will replace the current CEO, Larry Merlo, on February 1…Lynch is currently the executive vice president of CVS Health and president of Aetna, the insurance company it bought in 2018.” Read more
Amazon launches its first European Amazon Air hub at TechCrunch. “…based out of the Leipzig/Halle Airport in Germany. The new facility spans 20,000 square meters and will host two Amazon-branded Boeing 737-800 aircraft, bringing the company’s total operational air fleet to more than 70 aircraft.” Read more
Some grocery stores are limiting toilet paper and disinfecting wipe purchases again at CNN. “…nearly 60% of shoppers say they plan to stock up again as winter approaches, according to a survey of 1,000 shoppers by market research firm Inmar Intelligence conducted during the week of October 14.” Read more
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Walmart faces growth hurdles as India caps payments transactions at TechCrunch. “(India) will enforce a cap to ensure that no single payments app processes more than 30% of UPI transactions in a month… will severely impact Google and Walmart, whose respective apps already process more than 35% of UPI transactions each.” Read more
Groupon Q3 revenue down 39% Press release
Alibaba, Richemont to invest $1.1 billion in luxury fashion retailer Farfetch with focus on China at Reuters. “Meanwhile, Farfetch will cease operations with JD.com. after receiving the investment from Alibaba and Richemont…JD.com and Farfetch reached a strategic partnership in 2017 that saw JD.com invest $397 million in Farfetch.” Read more
Husband of ex-Amazon finance manager pleads guilty in $1.4M insider trading case at GeekWire. Read more
Price Check: Thanksgiving Dinner at Field Agent. “Whole Foods is most expensive – but most nutritious. Walmart is 2nd most expensive and 2nd most nutritious.” Read more
San Francisco voters pass ‘Overpaid Executive Tax’ at NBC. “The “Overpaid Executive Tax,” formally known as Proposition L, will charge any company that does business in San Francisco and has a top executive earning over 100 times more than their “typical local worker,” according to the tax’s author, Matt Haney, a member of the city’s Board of Supervisors.” Read more
Tipsheet Extra
Study: 1 in 5 grocery store workers have tested positive for COVID-19
Rare Patrick Mahomes sports card collection hits eBay for whopping amount
Vermont senators say Walmart ‘cruel’ not seeking hazard pay
Why Germany’s coronavirus strategy doesn’t appear to be working this time around
WhatsApp finally begins rolling out payment service in India
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