Pets at Home Gains Strong Momentum; Amazon Continues to Grow, but Falls Short of Wall Street Expectations
U.K. pet supply retailer Pets at Home raised its profit forecast as strong sales momentum continued in the first quarter.
Pets at Home reported sales rose 25.7 percent to £377.8 million in the first quarter ended July 15, up 30.2 percent year-over-year and 29.4 percent in two years.
Pets at Home's retail revenue also rose 29.1 percent year-over-year, with significant growth in pet food and accessories.
Amazon reported its second-quarter results on Thursday, missing Wall Street expectations.
The company reported online sales rose 16 percent year-over-year to $53.2 billion for the period, while brick-and-mortar sales rose 11 percent to $4.2 billion.
Net sales, which include the company's AWS business and other non-retail revenue, rose 27 percent to $113.1 billion, according to a company press release.
Services revenue from third-party marketplace sellers grew 38 percent to $25.1 billion: membership services (including Prime membership, music streaming and other fees) grew 32 percent to $7.9 billion: "other" company business, including advertising, rose 87 percent to $7.9 billion.
Chief Financial Officer Brian Olsavsky said on a conference call with analysts that market growth outpaced the company's own retail sales growth. Net income rose 48 percent to $7.8 billion.
Bed Bath & Beyond, a leading U.S. home and bedding retailer, is partnering with Safely, a leading U.S. home cleaning brand, to launch a line of eco-friendly home care and cleaning products.
Safely was founded by Kris Jenner, the mother of the Kardashian family, and Emma Grede, an entrepreneur.
The brand is making its retail debut in more than 750 Bed Bath & Beyond stores across the U.S., as well as in Bed Bath & Beyond's buybuy Baby stores and Harmon stores.
Safely's products are designed to combine on-trend design, luxurious fragrances, superior functionality and cleaner ingredients.
Bed Bath & Beyond notes that green cleaners are an important part of the growth of the home category, both for Bed Bath & Beyond and the home market as a whole.
Joe Hartsig, executive vice president and chief sales officer of Bed Bath & Beyond
"We are excited to be the first retail partner for the Safely brand," said Joe Hartsig, executive vice president and chief sales officer of Bed Bath & Beyond. "We know that consumer demand for green cleaning products is strong, and BedBath & Beyond, buybuy Baby and Harmon stores are poised to meet the growing demand.
With the addition of Safely to our portfolio, we are expanding sales in the home cleaning category and providing consumers with an enhanced product experience that they can feel, all to help them feel "home and happier.
The Safely brand launches in March 2021 with six products, including premium ingredients and luxury fragrances, ranging in price from $5.99 to $13.99.
The current line with Bed Bath & Beyond includes soap, hand soap, hand cream, all-purpose cleaner, glass cleaner and laundry detergent.
All Safely products are free of stabilizers, sulfates, parabens, phthalates, dyes and animal by-products and are all made and designed in the United States.
Bed Bath & Beyond shares our vision of providing high quality products at an affordable price," said Chris Jenner, co-founder of the Safely brand.
That's why I'm excited to partner with this unparalleled brand and make Safely accessible to countless American homes."
DollarGeneral is bringing its Popshelf concept to its larger DG Market stores, adding two Popshelf shop-in-shops this month.
Both stores are in Tennessee and are the first to incorporate Popshelf into other Dollar General formats.
Dollar General launched the Popshelf concept store last year to appeal to a target audience with higher prices and higher incomes.
Dollar General plans to open about 25 Popshelf store-within-a-store and another 50 stand-alone Popshelf stores in 2021.
U.S. warehouse member Costco is trying to launch same-day delivery with Uber at 25 of its stores in Dallas, Austin and Houston, Texas.
This is the first time Uber has partnered with a grocery company for same-day service.
In the next few weeks, seven more Costco stores will begin offering deliveries through Uber and the Uber Delivery app.
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