Target sees a 7%+ jump in comp sales for its fiscal first quarter – but shares tumble as retailer says first-quarter profits will be hurt by higher costs at CNBC. “In an interview with CNBC’s “Squawk Box,” Cornell said Target is trying to figure out if customers’ new shopping patterns are here to stay. “We are spending a lot of time trying to understand how the pandemic is going to change the future of how American consumers shop…” he said. “But it’s been really hard to predict week by week.” Video/Read more

 

Walmart taps Target exec William White as chief marketing officer by Kim Souza at Talk Business. “Janey Whiteside, chief customer officer at Walmart said in the memo the new leadership team reporting to White includes:
• Ciara Anfield, vice president of seasonal and cross-category marketing;
• Caroline Burd, senior  director marketing and strategy, support;
• Brittany Duke, vice president, general merchandise services marketing;
• Rich Lehrfeld, senior vice president brand, creative and media;
• Karrisa Price, vice president food, consumables, health, wellness marketing; and
• Saleel Sathe, vice president performance marketing.

Read more

 

Gap says may not have enough money to run operations at Reuters. “In order to have sufficient liquidity for the next 12 months, the company said it would need to tap the debt market, cut jobs, defer capital expenditures and cut back on orders from vendors.” Read more

 

Lowe’s to advertise during NFL draft, hinting a bolder marketing strategy is part of its turnaround plans at CNBC. “It is the first national advertising campaign since (Marisa) Thalberg started at Lowe’s. She was previously Taco Bell’s global chief brand officer…She stepped into the role Feb. 10, and the pandemic began before she could relocate to Lowe’s headquarters in North Carolina. She’s been doing her job several time zones and thousands of miles away in Orange County, California.” Read more

 

Tractor Supply Q1 comp sales +4.3% Press release

 

Developers are creating grocery bots to nab Whole Foods delivery slots the moment they open up at Business Wire. Read more

 

**A message from Gusto kitchenware. High quality – value priced – colorful kitchenware from the #1 cookware brand in Mexico. Information | Samples: info@eyeonretail.net

 

Bezos Takes Back the Wheel at Amazon by Karen Weise at NY Times. “At the end of February, Jeff Bezos, Amazon’s chief executive, and his girlfriend, Lauren Sanchez, were in France discussing climate change with President Emmanuel Macron…By late March, he had decamped to his ranch in West Texas, focusing on Amazon as the coronavirus pandemic spread across the United States.” Tiered subs.

 

Victoria’s Secret deal could fall through as buyer seeks to back out at Fox Business. Read more

 

Lumber Liquidators names Matthew Argano as the Company’s Chief Human Resources Officer Press release

 

Publix Launches Initiative to Help Farmers, Feed Those in Need During Pandemic Press release

 

7-Eleven pop-up opens in Children’s Medical Center in Dallas at Maria Halkias at Dallas Morning News. “7-Eleven CEO Joe DePinto said the hospital asked if the retailer could come up with a way for its staff to have “convenient access to essentials during this unprecedented time.” “Our team rose to the challenge, opening this first-of-its-kind store in less than two weeks,” DePinto said. “We are so proud to serve those on the front line of this pandemic.” Read more

 

Tipsheet Extra

‘Star Wars’ Series in the works at Disney Plus

Canada Goose to stop buying fur from freshly killed coyotes

Poultry industry struggles with plunging sales, coronavirus deaths

Walmart won’t say if workers have coronavirus as some N.J. stores temporarily close

Walgreens chief named NACDS board chairman

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