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Non-Essential Retail Warms Up For The Post-Crisis Economy
pymnts | April 16, 2020
We expect a strong holiday selling period, with Amazon, TJX, Ross Stores, and Mattel among our favorites.For all Morningstar videos: https://www.morningstar.com/articles/archive/467/us-videos.html
Kroger | April 21, 2020
To help families particularly impacted by the novel coronavirus, The Kroger Co. Zero Hunger | Zero Waste Foundation said it has created the Emergency COVID-19 Response Fund. Kroger and the foundation seek to direct $10 million in national, state and local grants to pandemic response efforts via the fund, according to an announcement. Kroger and the Foundation have rolled out new charitable giving programs to speed up the fund’s critical response initiatives. Shoppers can help the fund through the Round Up to End Hunger effort at stores and fuel center kiosks. They can round up their transactions to the closest dollar amount or commit to a $1, $5 or $10 donation throughout almost 2,800 stores. Customers can also donate to the fund online in any amount they choose. Keith Dailey, Kroger‘s group vice president of corporate affairs, said in an announcement, “We recognize the need in our communities is urgent and increasing every day. Kroger’s Zero Hunger | Zero Waste social impact plan is our commitment to help create communities free of hunger and waste — and never has this mission been more important.”
indiaretailing | April 20, 2020
Walmart is committed to helping the fellow Americans seeking work, while serving customers during this unprecedented time. The brand recently committed to hiring more than 150,000 new associates by the end of May. Since then, it has had over 1 million applicants, hiring an average of 5,000 people per day. Walmart reached its goal in less than a month – more than six weeks ahead of schedule and announced a new commitment to hire an additional 50,000 associates.
retaildive | April 16, 2020
During a call with analysts on Wednesday discussing fourth quarter results, Bed Bath & Beyond CEO Mark Tritton announced the home goods brand sold off its One Kings Lane banner to an unnamed third party. Bed Bath & Beyond, which acquired the home decor site in 2016, did not disclose how much it sold the banner for. Tritton on the call also said that a deal to sell off its PersonalizationMall.com unit to 1-800-Flowers for $252 million had not closed on March 30 as planned. The company earlier this month filed a lawsuit against 1-800-Flowers in regards to the deal.
vox | April 15, 2020
Retail sales fell 8.7 percent in March, the largest-ever decline on record, according to Census Bureau data released Wednesday morning. In dollar terms, the decline was nearly triple the previous worst month on record, from the fall of 2008.This joins the past several weeks worth of surging unemployment claims to clarify that the economy really is collapsing at an unprecedented pace. Indeed, given that most of the country wasn’t really reacting strongly to coronavirus in the first week or two of March, the real pace of decline is likely even worse than this number suggests. But the basic story is clear people bought way less stuff in March than they normally do. One important thing to keep in mind is that the broad trend masks significant variation from sector to secto
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