CVS tops estimates, hikes guidance at CNBC. “Shares of CVS were up 7% in premarket trading Thursday. The company now expects full-year adjusted earnings of $6 to $6.20 per share, up from a previous guidance of $5.75 to $6 per share.” Read more

 

Wayfair Q1 total revenue close to flat / US revenue +1.6% Press release

 

eBay Inc. Q1 revenue +1.0% Press release

 

Walmart US CEO John Furner Reveals How He Was Talked Into Buying Vizio at Adweek. “…chief growth officer Seth Dallaire…suggested Walmart could invest in a non-retail business to bolster thin retail margins…Furner also spoke about how Walmart is handling tariffs…Walmart is launching a new program called “Grow with Us” that provides resources and tools to support American-made products sold by small businesses.” Read more

 

Sprouts Q1 comp sales +11.7% Press release

 

OpenAI rolls out new shopping features with ChatGPT search update at Reuters. “…has updated ChatGPT’s web search capabilities to improve online shopping for users with personalized product recommendations with images, reviews, and direct purchase links…search feature has gained popularity since its introduction last year, and has become one of its most sought-after tools, with over 1 billion web searches in the past week…” Read more

 

UK retail giant Co-op warns of disruption as it battles cyberattack at TechCrunch. “…comes days after U.K. retailer Marks & Spencer confirmed a cyberattack that left customers unable to pick up their orders.” Read more

 

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95% of ibuprofen comes from China at Fortune/Yahoo. “More than 90% of the supply of anti-inflammation steroid hydrocortisone also comes from China, as well as 70% of acetaminophen and 45% of the U.S.’s penicillin imports. The U.S. is particularly reliant on China for more affordable, generic drugs, and generic drugs make up 90% of prescriptions filled in the U.S., according to the FDA.” Read more

 

Republicans and Democrats Can Agree on This: Stop Minting Pennies at WSJ. “A bipartisan bill expected to be introduced in the Senate on Thursday calls for the U.S. Mint to end production of the one-cent coin…The bill doesn’t go as far as one introduced Wednesday in the House of Representatives that also calls for penny production to stop. That bipartisan legislation says cash transactions should be rounded up or down to the nearest 5 cents.” WSJ subs.

 

Billionaire Lukas Walton names new CIO for his family office at CNBC. “Walmart heir Lukas Walton’s Builders Vision tackles environmental challenges through philanthropy and impact investing…recently backed Norway’s Bluefront Equity, a sustainable seafood fund. In November, the firm co-guaranteed $70 million of debt held by the Bahamas…” Read more

 

Loblaw still adding Canadian products but CEO says ‘Buy Canadian’ trend may not last at Financial Post. “Asked if he anticipates the “Buy Canadian” trend will persist, (CEO) Bank said he was hopeful, but predicted that “maybe a third of it will stick” long term.” Read more

 

Visa and Mastercard unveil AI-powered shopping at TechCrunch

 

Amazon will spend $4B to expand U.S. rural delivery network at GeekWire. “…will create more than 100,000 new jobs and bring its rural delivery network footprint to more than 200 delivery stations.” Read more

 

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