Target Q1 comp sales +10.8% (store comp sales +0.9% / digital +141%) Press release

 

…Reuters: Target’s coronavirus-led online sales surge comes at heavy costs “Cornell said he expects demand for non-staple items like beauty products, home goods and clothes to continue into the current quarter.” Read more

 

…Fox Business: Target’s profit sinks 64% as costs soar amid pandemic Read more

 

Lowe’s Q1 U.S. comp sales +12.3% Press release

 

…Lowes jumps to number one in radio spots last week at Radio Ink. “After logging in a 10th place finish on the Media Monitors chart two weeks ago, Lowes aired nearly 70,000 commercials last week to take the top spot. Progressive Insurance dropped into second (66,718), followed by The U.S. Census Bureau (50,919), Babbel (49,771) and GEICO (38,747).” Read more

 

Facebook & Instagram roll out Shops, turning business profiles into storefronts at TechCrunch. Read more

 

Kohl’s CEO says this is the ‘low point’ of 2020 at CNBC. “Our hope is that this is just an extraordinary event to flatten the curve,” Gass said…“We were in this nonessential category … it was mandated.” Read more

 

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Kroger overpaid some workers and demanded repayment, now says ‘nevermind’ by Alexander Coolidge at Cincinnati Enquirer. “Kroger officials wouldn’t say how many workers got extra pay or where they worked but said the employees in question were associates that were paid to stay home after falling ill with coronavirus symptoms, testing positive for COVID-19 virus or were otherwise quarantined.” Read more

 

Walmart CEO @ CNBC this morning: “We would (buy Jet) ‘do that all over again’…Brands are more “comfortable,” selling on Walmart now, (McMillon said)…Walmart has seen notable spikes in discretionary categories like adult bikes and craft supplies…” Read more/Video

 

Kohl’s removes Jennifer Lopez, seven other brands from stores at Reuters/NY Post. “Kohl’s, which has partnered with Jennifer Lopez for about a decade and began selling Juicy Couture in stores in 2014, will also cease selling Dana Buchman, Mudd, Candie’s, Rock And Republic and Elle.” Read more

 

Home Depot Q1 Earnings Call Transcript at Seeking Alpha. Transcript

 

CVS to return $43M in coronavirus stimulus payments at Fox Business. “As you know, CVS Health did not solicit these funds but received them as part of an automatic distribution by the Department of Health and Human Services,” CVS President & CEO Larry Merlo wrote.” Read more

 

Walmart Q1 Earnings Call Transcript at Seeking Alpha. Transcript

 

Publix continues domination of Florida’s retail marketplace at The Packer. “In South Florida…Publix commanded a market share of 60.2% in the first quarter of 2020, trailed by Walmart with a 12.54% share…In central Florida Publix’s market share was 52.9%, with Walmart’s at 18.9%…North Florida, had a 46.6% share – Walmart with a nearly 20% share.” Read more

 

Amazon is reopening its French warehouses after COVID-19 labor dispute at The Verge. Read more

 

Tipsheet Extra

Schnucks Presents Drive-Thru Graduations During COVID-19

Casey’s CEO Foresees Three Major Changes Post-Pandemic

Mariano’s Founder to Open New Grocery Chain

Instacart customers complain of mystery charges

Some grocery workers “scared to death” to return to work

Read Tipsheet Extra Stories

 

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