US first-quarter GDP shrank 4.8%, vs 3.5% decline expected at CNBC. “When the Commerce Department makes its revisions to the initial GDP reading, the result could show a decline of about 3 to 4 percentage points for a total slide of 8.25%, according to a Goldman Sachs estimate.” Read more

 

Amazon turns to Chinese firm on U.S. blacklist to meet thermal camera needs at Reuters. “Amazon has bought cameras to take temperatures of workers during the coronavirus pandemic from a firm the United States blacklisted over allegations it helped China detain and monitor the Uighurs and other Muslim minorities, three people familiar with the matter told Reuters.” Read more

 

Boneless chicken is first to go scarce as coronavirus hits U.S. meat supply at Fortune. “Food retailers across North America are swapping boneless chicken legs for less popular thighs and drumsticks as a wave of shutdowns at meatpacking plants has reduced supplies of sought-after cuts.” Read more

 

Pending home sales tank nearly 21% in March, but Realtors claim prices will hold up at CNBC. Read more

 

Amazon, Walmart, FedEx workers plan walkout on Friday: report at The Hill. “Former Amazon employee Christian Smalls, shared a flyer on Twitter last week that included other prominent company names participating in the demonstration on May 1, such as Instacart, Target and Whole Foods, according to a report from The Intercept.” Read more

 

Starbucks expects to reopen 90 percent of its stores by June at NY Post. Read more

 

Best Buy will start to reopen to customers with appointments for in-store consultations at CNBC. “It will begin by offering the service at about 200 of its 1,000 U.S. stores…Best Buy’s CEO Corie Barry…(said) the retailer will also resume in-home delivery, installation and repairs — but with new safety precautions. Those services will return in early May…” Read more

 

Loblaw quarterly comp sales: food unit +9.6% / drugs unit +10.7% at Financial Post. Read more

 

**A message from Real Coconut Water: 100% pure coconut water. Ask about our organic private label Tetra Pak. Sell sheet | Website | Samples: info@eyeonretail.net

 

Blue Apron Shares Off After Report of Wider First-Quarter Loss at The Street. “Blue Apron’s first-quarter loss widened on 28% lower revenue. The pandemic is nonetheless helping demand for meal kits as consumers stay home.” Read more

 

Millennials Will Swap Experiences for Buying Stuff at Bloomberg. “Until we have a vaccine for the coronavirus, the experience-based economy will likely be an inferior version of what it used to be…Although some of that lost consumption might be saved, a lot of it will be spent where it can be — and for a lot of consumers, that will mean spending on their homes.” Tiered subs.

 

Leaked memo details Simon plans to reopen 49 malls across 10 states over the weekend at Indy Star / USA Today. “According to the memo, Simon plans to reopen malls between Friday and Monday in Texas, Oklahoma, Georgia, Indiana, Tennessee, Arkansas, Alaska, South Carolina and Missouri.” Read more

 

NFL and Amazon Renew and Expand Streaming Partnership Press release

 

Tipsheet Extra

WinCo Foods stays the course, begins Bend, Ore. store construction

False belief poison cures virus kills over 700 in Iran

Ford delays launch of robotaxi service to 2022

Spray that claims it protects surfaces from COVID-19 now on sale in Hong Kong

Students are considering dropping out of college because of coronavirus

Read Tipsheet Extra Stories

 

**

Eye on Retail Tipsheet is must-read material for retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.

 

Subscribe to Eye on Retail Tipsheet here

 

Contact us: Put your product or service in front of the most powerful retail execs in the world, send advertising inquiries to info@eyeonretail.net

 

Website: eyeonretail.net