Financials

Retailers

Virus Surge Drives Sales and Profits for HelloFresh

The meal kit company counted 1 million new U.S. customers in Q1 as stay-at-home orders kicked growth to new levels.

Retailers

Publix Details Sales and Profit Lifts in Early Weeks of Pandemic

Heavy buying late in the quarter delivers $1 billion in new sales and helped the retailer leverage rising costs and improve profits.

The retailer rings up 34% comps since March; e-commerce soars by 243% behind moves to beef up staff.

Investors told to “take a seat” as Amazon details big spending plans for COVID relief, including masks for shoppers at Whole Foods stores.

Stay-at-home orders have breathed new life into once flagging meal kit sales, but will these gains continue when restaurants reopen?

The retailer's overall sales have climbed in its first quarter behind online and food, but expenses and declines in categories such as apparel will ding profits.

With stay-at-home orders reducing visits, larger baskets more than make up for the shortfall.

The retailer says enhanced store safety measures, pay and benefit increases, and charitable donations are approaching $200 million.

The retailer issues a $2 hourly increase through April 18. It also announced an increase in sales for March as consumers stock up, then adjust to safety restrictions.

A financial update details big volume gains in the initial weeks of the coronavirus crisis and underscores grocery's strength in upheaval; costs also rising as the retailer adapts to elevated sales amid safety measures.

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