Tipsheet: Women Advance @ Best Buy | Target Inks Queens Deal | Rite Aid +2.2%


US economy up 6.4% in Q1 with stronger future gains expected at AP. “Consumer spending…grew at a sizzling annual rate of 11.4% in first three months of the year…Business investment grew at a strong 11.7% rate…” Read more


Prime Day 2021 was the biggest two-day period ever for Amazon’s third party sellers “Top-selling products worldwide for Prime Day 2021 included iRobot Roomba 692 Robot Vacuum, Keurig K-Slim Coffee Maker, Apple Cider Vinegar Gummy Vitamins by Goli Nutrition, and Crest 3D White Professional Effects Whitestrips.” Press release


Amazon’s Prime Day results were more muted than usual this year at CNBC. “Amazon’s publicity around the Prime Day results was muted compared with previous years, lacking the sales superlatives it typically offers to show how consumers flocked to the site to snap up heavily marked-down goods.” Read more


U.S. durable goods orders rise 2.3% in May at AP. “…reversing a 0.8% drop in April and coming despite a backlogged supply chain and a shortage of workers.” Read more


Rite Aid Q1 revenues up 2.2% Press release


Sobeys parent sees sales slide as grocery shopping begins to get back to normal at Financial Post. “Empire booked earnings of $171.9 million — down $5.9 million year over year — on sales of $6.9 billion in the quarter, ended May 1. Same-store sales…decreased by six per cent, excluding fuel.” Read more Best Companies for Women to Advance List 2021 (Best Buy) List


Goat Group, Parent of Sneaker Marketplace, Valued at $3.7 Billion in Latest Funding Round at Wall Street Journal. “The company also provided detail about its financial performance, saying $2 billion of merchandise was sold on its Goat platform over the past year. Sales of sneakers during the period doubled compared with the previous year.” WSJ subs.


** The Sweets & Snacks Expo is happening now! Find all the product innovations, insights and industry connections you need to build a world-class in-store or online experience that will delight your shoppers. Who’s exhibiting | Show website | Indianapolis, June 23-25 2021


Target inks huge deal in Queens at NY Post. “When it opens…the store will have a dedicated ground-floor entrance, the entire 23,400-square-foot second floor and a portion of the third floor of the four-story retail building that is connected to the main 53-story tower’s lobby and Court Square subway hub.” Read more


FedEx suspended service for 1,400 freight customers at Fox Business. “In addition to culling customers, FedEx is imposing a $30 per shipment fee on FedEx Freight deliveries to certain ZIP Codes after July 5. Affected are the Sacramento, Calif., Seattle and Miami areas along with parts of New Jersey and Long Island, N.Y.” Read more


Gap Home will be available to shop on starting today Press release


Best Buy Commits to Spending $1.2 Billion with BIPOC and Diverse Businesses By 2025 “This pledge includes plans to increase all forms of spending with Black, Indigenous and people of color (BIPOC) businesses from nearly every corner of the company—from how it brings goods and services to stores to its supply chain to where and how it advertises.” Press release


Home Depot launches online rental reservations; opens new rental locations “After piloting online reservations in the Atlanta, Charlotte and Houston markets, The Home Depot has made the system available to rental customers across North America. The Home Depot also has opened eight new Rental Centers since January…” Press release


Pep Boys will shutter several New Jersey stores as part of its plan to close over 100 locations and shift the company out of retail operations at NJ Advance Media. Read more


Tipsheet Extra

Amazon vet Dorothy Li joins trucking startup Convoy as CTO

Marc Lore says brands like Warby Parker can’t be replicated by big-box retailers

Ahold Delhaize U.S. CEO on building consumer trust

Google pushes back deadline to kill third-party cookies to 2023

Amazon scooping up solar and wind energy projects around the world

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