Michaels Companies to be bought by Apollo Global in $5 billion deal at CNBC. “Apollo will commence a tender offer to acquire all outstanding shares of Michaels for $22.00 per share in cash. The purchase price represents a 47% premium to the closing stock price on February 26, 2021 (the last trading day prior to press speculation about a potential transaction involving Michaels).” Press release

 

Dollar Tree, Inc Q4 comp sales: Enterprise +4.9% / Family Dollar +8.1% / Dollar Tree +2.4% Press release

 

…Big-box competition hits Dollar Tree sales, shares fall at Reuters. “Net sales rose 7.2% to $6.77 billion but missed estimates of $6.79 billion, according to IBES data from Refinitiv.” Read more

 

Walmart sweetens pay for most U.S. hourly workers on the coasts at Reuters. “The world’s biggest retailer also said it has seen a slight increase in job applications for digital and stocking roles, mostly internally. “(This) tells us that we’re becoming more competitive for this type of work,” said Drew Holler, Walmart’s head of people operations.” Read more

 

Nordstrom Q4 net sales down 20% Press release

 

…Nordstrom shares fall as shipping delays boost retailer’s inventory heading into 2021 at CNBC. “Nordstrom reported fourth-quarter sales and earnings that topped analysts’ estimates…But the company cautioned that it has been recently impacted by shipping delays…” Read more

 

Ross Stores Q4 comp sales down 6% Press release

 

**The Sweets & Snacks Expo is a can’t-miss event for thousands of confectionery and snack retailers, manufacturers and suppliers for a reason – 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. Indianapolis June 23-25, 2021. Show overview | Most Innovative New Product Awards | Destination Retail

 

Amazon is set to open its first U.K. Amazon Go supermarket in Ealing, west London at Eater. “The supermarket is set to open this week, joining the 27 Amazon Go supermarkets across the U.S. It’s reportedly been in the planning since 2017, when Amazon applied for trademarks on some doozy marketing lines: “No Lines, No Checkout. (No, Seriously),” and “No Queue, No Checkout. (No, Seriously).” Read more

 

Instacart raises $265M at a $39B valuation at TechCrunch. “The new funding, which, like its past few rounds, isn’t assigned a Series alphabetical designation, pushes the company’s valuation to $39 billion — more than double its $17.7 billion valuation when it raised its last financing, a $200 million venture round in October 2020.” Read more

 

Amazon appoints Laura Sutphen as director of corporate communications PR Week subs.

 

Best Buy Appoints Steven E. Rendle – Chairman, President and CEO of VF Corp – to Board of Directors Press release

 

Amazon tweaks cardboard box tape in new app icon after some saw Hitler’s mustache in the design at GeekWire. “The new icon changes the look of the tape above Amazon’s smile logo — which some thought looked a little too much like the German dictator’s mustache — and changed it from a jagged edge to a folded look.” Pics/Read more

 

Target Announces 2021 Strategic Investments “Following 30 store openings in 2020, including adding a record 29 new small-format stores in a single year, Target plans to accelerate the pace and open 30-40 new stores each year to meet community needs in urban centers, college campuses and dense suburban cities across the country.” Press release

 

H-E-B will require workers to wear masks, can only ask customers to do the same at KSAT. Read more

 

Emerging Europe.com bolsters defences as Amazon enters Poland at Reuters. “As Amazon sets its sights on central and eastern Europe, the e-commerce giant will need to convince long-time Allegro shoppers like Elzbieta Modrakowska to click away from the region’s leading online marketplace.” Read more

 

Tipsheet Extra

HBR: How Employers Can Reduce Vaccine Hesitancy

Payroll/HR Giant PrismHR Hit by Ransomware?

Amazon issues rare apology in India

Experts sound the alarm on declining birth rates among younger generations

Universal set to resume construction of Epic Universe park in Florida

Read Tipsheet Extra Stories

 

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