US May retail sales surge 17.7% in the biggest monthly jump ever at Reuters. "U.S. retail sales were expected to rise 8.0% in May, after plunging 16.4% the prior month..." Read more | Census bureau data   US industrial production bounces back 1.4% in May after plummeting a record 12.4% in April at AP. Read more   Walmart buys tech from Carezone to help people manage their prescriptions at CNBC. "CareZone, which got its start in 2010, develops apps to help people manage their medicines. It also built technology for users to scan insurance cards and prescription drug labels, [...]

  Walmart is joining forces with Shopify "...we are joining forces with Shopify...to open the Walmart Marketplace to their sellers. As our CEO Doug McMillon recently said, competition is good in the retail business, and we want more retailers not fewer." Press release   The Harris Poll Essential 100, a ranking of corporate response to the COVID-19 pandemic: Walmart #5, CVS #10, Walgreens #15, Lowe's #21, Home Depot #23, Target #29, Best Buy #32, Costco #34... Ranked list   Trader Joe's near Seattle 'autonomous' protest zone temporarily closed at Fox Business. "The fate of businesses in the zone remains unclear [...]

  New coronavirus spread isn’t the feared ‘second wave’–it’s still the first, researchers say at CNBC. "To be defined as a second wave the virus would need to retreat and reappear, or a new variant would have to emerge, said Ian Lipkin, a professor of epidemiology and director of the Center for Infection and Immunity at Columbia University. “The recent increase in cases does not reflect either.” Read more   Party City Q1 brand comp sales -17.1% "During the remainder of 2020, the Company plans to close approximately 21 stores, open 2 new stores, with the remaining 10 planned new [...]

  Amazon Price-Gouging Crackdown Worsened Shortage of Sanitizer, Wipes at Bloomberg. "...consultants who help (Amazon) merchants avoid suspensions say they were inundated with calls from clients during the price-gouging crackdown. One of them, a former Amazonian named Chris McCabe, says he heard from hundreds of merchants and advised dozens of them to stop selling products because the rules were unclear." Tiered subs.   Walmart will stop putting ‘multicultural’ products in locked cases at CNBC. "The practice, which Walmart says was only in place “in about a dozen” of its 4,700 U.S. stores, has received criticism for the implication that the [...]

  Amazon unveils small business credit line with Goldman Sachs at CNBC. "Now, in a sign of the close relationship between the two companies — Amazon used Goldman bankers for its $13.7 billion takeover of Whole Foods — the tech giant will share merchant data with Goldman, the people said. If sellers consent to it, Goldman will use data on businesses’ revenue and tenure on the e-commerce platform to help determine who should be approved, the people said." Read more   May consumer prices fall 0.1%, the third consecutive month at AP News. "The Labor Department said Wednesday that its [...]

  Tiffany says same-store sales fell 44%, LVMH deal clearing regulatory hurdles at CNBC. "In China, same-store sales were down about 85% and 15% during the first and second months of the quarter, but have picked up again in April and May....sales jumped by 30% during April and about 90% in May, compared to the same period a year prior." Read more   Bankrupt Retailers Stand to Pocket Millions From Unused Gift Cards at Wall Street Journal. "A number of bankrupt retailers—Pier 1, Modell’s Sporting Goods Inc. and Art Van Furniture Inc.—are closing their doors. In total, the three had [...]

  Jeff Bezos 'happy to lose' customers over Black Lives Matter message at Fox Business. "This sort of hate shouldn't be allowed to hide in the shadows," Bezos wrote Sunday on Instagram with a screenshot of the email from someone named Dave. "It's important to make it visible. This is just one example of the problem. And, Dave, you're the kind of customer I'm happy to lose." Read more   Walmart and foundation commit $100 million toward diversity efforts at Talk Business. "Walmart gave no details on the (racial equity) center’s location or who will oversee the initiative, saying only [...]

  U.S. unemployment rate unexpectedly falls in May at Reuters. "The Labor Department’s closely watched employment report on Friday also showed the jobless rate falling to 13.3% last month from 14.7% in April...Economists polled by Reuters had forecast the unemployment rate jumping to 19.8% in May..." Read more   RH Q1 net revenue -19.3% "...we have experienced a strong rebound in the second quarter and are optimistic that these business trends will continue as we reopen our Galleries, Outlets and Restaurants. As of June 3, 2020, we had reopened approximately 74% of our Galleries, 68% of our Outlets and 50% [...]