Costco March comp sales +7.7%: U.S. +7.3% / Canada +8.9% / Other Int'l +8.6% Press release   How Walmart’s privileged documents led to $101 million jury verdict for ex-supplier at Reuters. "... jury that found Walmart breached its agreement to buy millions of boxes of nitrile gloves in the first 18 months of the COVID pandemic...The jury awarded Walmart $350,000 in damages based on evidence that London Luxury’s CEO was plotting to open their own nitrile glove factory in Florida." Read more   Amazon CEO Andy Jassy in shareholder letter says he’s committed to cost cutting while investing in [...]

  Two years after its historic win, a divided Amazon Labor Union lurches toward a leadership election at AP. "Two years after clinching a historic victory at a warehouse in New York City, the first labor union for Amazon workers in the United States is divided, running out of money and fighting over an election that could determine who will lead the group in the near future. Despite campaigns at several facilities in the past few years, the warehouse on Staten Island still is the only site in the U.S. where the retail giant’s workers have voted in favor of union [...]

  Amazon Sellers Plagued by Surge in Scam Returns at WSJ. "Amazon shoppers regularly switched Coach wallets for no-name dupes and Nike football cleats for flip-flops. She tried to get Amazon’s help, but filing complaints became a hit-or-miss process. She eventually changed her inventory and now sells consumable products like pet supplies, which has significantly reduced theft." WSJ subs.   Nearly half of Levi’s sales are happening online and in its shops, a shift as department stores fade at CNBC. "In the three months ended Feb. 25, direct-to-consumer sales made up a record 48% of overall sales at Levi’s, up [...]

  Amazon hits pause on controversial seller fee rollout that had caused a revolt at Yahoo Finance. "Hundreds of thousands of merchants on Amazon will get a brief reprieve from a new controversial fee that was to take effect on April 1, a company executive said. Amazon will still charge affected sellers the fee as planned, but will credit them back at the end of April. The company is referring to this grace period as a “transition period" that will show sellers how they would be affected by the so-called low-inventory fee without the sellers yet footing the bill." Read more [...]

  Home Depot is acquiring specialty distributor SRS for $18.25 billion in huge bet on growing pro sales at CNBC. "The acquisition is the largest in Home Depot’s history...CEO Ted Decker...said the deal increases Home Depot’s total addressable market by $50 billion. SRS Distribution sells supplies to professionals in the landscaping, pool and roofing businesses...has approximately 11,000 employees and 760 branches across 47 states. It also has a fleet of 4,000 delivery trucks and a dedicated salesforce that caters to the home pros, Decker said." Read more   Walgreens Boots Alliance Q2 sales increased 6.3 percent year-over-year to $37.1 billion Press [...]

  Visa, Mastercard agree to lower credit-card fees in landmark merchant settlement at MarketWatch. "Through the blockbuster agreement, which merchants say is one of the largest in U.S. antitrust history, Visa and Mastercard will lower published credit-card interchange fees by four basis points in the U.S. for at least three years. The companies also won’t raise interchange fees for five years above the rates that were in place at the end of 2023." Read more | Press release   Amazon launches same-day prescription delivery in New York and Los Angeles at CNBC. "San Bernardino, Riverside and Anaheim, which are all [...]

  Dick's Sporting Goods Q4 comp sales +2.8% (vs. +0.8% expected) / Largest sales quarter in company history Press release   ...Dick’s Sporting Goods soars past holiday quarter estimates, raises dividend 10% at CNBC. "For fiscal 2024, Dick’s is expecting earnings per share to be between $12.85 and $13.25, compared with estimates of $12.90, according to LSEG...expects same store sales to rise by 1% to 2%." Read more   Amazon plans ‘Big Spring Sale’ that’s not just for Prime members starting March 20 at CNBC. "...the “Big Spring Sale,” will run for six days starting March 20, in North America. [...]

  Inside the organized crime rings plaguing retailers including Ulta, T.J. Maxx and Walgreens at CNBC. "These organized theft groups don’t typically carry out the splashy “smash and grab” robberies seen in viral videos. Instead, they pilfer goods quickly, quietly and efficiently...CNBC has spent about eight months embedding with various law enforcement agencies and investigating theft groups to understand what organized retail crime looks like from the ground." Read more   ....Ulta CEO says e-commerce sites can do more to stop the sale of stolen goods "We shouldn’t have an environment where it’s possible to steal from one retailer and [...]