How much of Walmart’s online sales growth came from groceries?
Walmart grew online sales 74% in the first quarter. In the press release announcing its earnings results, management attributed the acceleration in online sales growth to “strong results for grocery pickup and delivery services.” A couple of other notable items from Walmart’s report include gross margin contraction of 66 basis points and lower losses for…
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Open Restaurants, Return to Work Leave Grocery Stocks in Limbo
With restaurants resuming some dine-in services and more people returning to work, grocery stores are getting the short end of the stick. The total grocery industry, which includes in-store shopping and delivery and meal-kit providers, saw an “across-the-board spending deceleration” of about 500 basis points for the two weeks that ended May 19 from the…
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As Diners Flock to Delivery Apps, Restaurants Fear for Their Future
While the apps say they are saving them in the pandemic, many restaurateurs say the opposite. Before the coronavirus lockdowns, Matt Majesky didn’t take much notice of the fees that Grubhub and Uber Eats charged him every time they processed an order for his restaurant, Pierogi Mountain. But once the lockdowns began, the apps became…
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Fence Posts, Transit Apps Give Alt-Data Hunters Recovery Clues
Steven Weinstein raised his first-quarter revenue expectations for Wayfair Inc. after scouring credit and debit card information from millions of Americans. Two weeks after his report was published in April, Wayfair reported quarterly net revenue of $2.33 billion, just $60 million shy of Weinstein’s estimate, which was higher than the consensus forecast of $2.28 billion.…
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