Target's same-day delivery service Shipt gears up for online holiday shopping boom
Shipt CEO Kelly Caruso said customers will stick with the same-day delivery service because they have discovered the hours they can gain back as they skip trips to stores during the global health crisis. Similar to gig economy companies like Uber and Lyft, Shipt relies on contract employees to fulfill orders. It competes with third-party delivery companies like Instacart and some of retailers' own delivery offerings. Now, customers pay an annual fee of $99 per year for unlimited same-day delivery of $35 or more. During the pandemic, Shipt has been one of the businesses that has bolstered Target's sales.cnbc.com
Which grocery delivery service is least expensive with the fewest errors?
HOUSTON – The coronavirus pandemic pushed many families to try grocery delivery services for the first time. For instance, we wanted 1 pound of bananas but not every service makes it easy to specify 1 banana or 1 pound of bananas. When one store delivered far more bananas and 18 eggs instead of a dozen, it messed up the sample. In these instances, we threw those items out of our test, counting only the same items from store to store. This makes it easier for you to see which store charges more for certain items as well as the varying delivery fees.
Bed Bath & Beyond teams with Shipt and Instacart for same-day delivery before holidays
Bed Bath & Beyond and buybuy Baby stores across 48 states will offer the service, but customers must reside in eligible ZIP codes to use it. As of May 30, Bed Bath & Beyond had a total of 1,478 stores, including 955 of its namesake shops and 127 buybuy Baby locations. Bed Bath & Beyond is partnering with Target-owned Shipt, which helps fulfill same-day orders for a number of other retailers including Costco and Kroger, and Instacart. "The important thing is ... to make sure we get this in place before the holidays," said Bed Bath & Beyond Chief Digital Officer Rafeh Masood. Bed Bath & Beyond is set to report quarterly earnings Thursday morning and has an analyst event scheduled for Oct. 28.cnbc.com
Target's shares tumble as retailer says first-quarter profits will be hurt by higher costs
Target CEO Brian Cornell said Thursday the retailer has benefited from a surge in online shopping, but warned it will have lower profits this quarter due to higher costs. In an interview with CNBC's "Squawk Box," he said Target's investments in online shopping options and its workforce will lead to "market share gains that I think will benefit the brand for years to come." Since its fiscal first quarter began Feb. 2, Target's same-store sales have risen more than 7%, the retailer said. But he said higher labor costs, the sale of more low-margin items and write-downs of inventory in apparel and accessories because of a drop in sales will weigh on profits. "Nothing we are seeing here is permanent, except maybe Target picking up new customers," he said.cnbc.com