Petco Q1 comp sales +28% Press release

 

…FURRY ANNUITY – Petco swings to a profit and boosts forecast, citing customer growth at CNBC. “You might get a Peloton once, you might redo your garage once, but once you have a new furry friend they are going to need to be fed, they are going to need to be groomed, they are going to need to be vaccinated for a decade or more,” Coughlin said on CNBC’s “Squawk on the Street.” “We call it the furry annuity.” Read more

 

BJ’s Wholesale Club Q1 comp sales (ex-gas) down 5% Press release

 

Kohl’s Q1 net sales +69.5% Press release

 

…Kohl’s shares tumble despite the retailer’s strong sales beat at CNBC. “Kohl’s results are not as strong when compared with those before the Covid pandemic, according to GlobalData Retail Managing Director Neil Saunders, noting that sales are down about 10% from 2019 levels.” Read more

 

Ace Hardware Q1 US comp sales +29.9% Press release

 

Google to open its first ever physical retail store – located in New York City “…customers will be able to browse and buy an extensive selection of products made by Google, ranging from Pixel phones to Nest products, Fitbit devices to Pixelbooks and more.” Read more

 

** The Sweets & Snacks Expo is a can’t-miss event for thousands of confectionery and snack retailers, manufacturers and suppliers – here you’ll 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. See who’s exhibiting | Show website | Indianapolis, June 23-25 2021

 

Best Buy Commits $10M to Grow Opportunities for Youth in Los Angeles “…will create up to 12 new Teen Tech Centers in the LA area by 2023. Best Buy currently has 35 Teen Tech Centers nationwide, including three in LA…this future network of Teen Tech Centers will help prepare at least 3,000 LA-area youth per year for local career opportunities.” Press release

 

Shoe Carnival Q1 comp sales +125% Press release

 

Every second counts as startups race to deliver fresh food at Reuters. “The boss of one of Europe’s biggest supermarkets, speaking on condition of anonymity, told Reuters that far from dismissing the new services as hype, they could pose “death by a thousand nibbles” to the dominant chains such as Tesco and Sainsbury’s, Aldi and Lidl.” Read more

 

7-Eleven to sell 293 Speedway and 7-Eleven Stores to three separate buyers Press release

 

Brooks Brothers’ former owners accused of driving company into bankruptcy to avoid losing millions at Fox Business. “According to the suit, the Del Vecchios refused to pursue “several bids for the purchase of Brooks Brothers in 2019″ — well before the pandemic toppled major retailers — because they would have been obligated to hand over hundreds of millions of dollars to Brooks Brothers’ shareholders, including TAL.” Read more

 

The secrets of Amazon reviews: Feedback, fakes, and the unwritten rules of online commerce at GeekWire. Read more/Podcast

 

Tipsheet Extra

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Five more women are suing Amazon for discrimination and retaliation

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The number of retirement millionaires has more than doubled from one year ago

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