Nov 17, 2017

Former JC Penney CEO: Amazon should fear Walmart

Elise Amendola / AP

Former JCPenney CEO and Apple Store pioneer Ron Johnson said on CNBC's Fast Money that Amazon "should be really worried" about Walmart's resurgence of late, arguing that the Bentonville retailer's network of stores is cheaper and more efficient to operate than Amazon's collection of warehouses.

Why it matters: Walmart's earnings announcement was the highlight of a week filled with surprisingly strong performances by Amazon's brick-and-mortar competitors, like Best Buy, Gap, Abercrombie, and Foot Locker, which all reported stronger than expected same-store sales growth. These performances have powered the SPDR S&P Retail ETF 3.9% higher this week — its best five-day stretch of the year.

Sound smart: Despite a good week, Retail indices are still down year-to-date, while Amazon's value is up more than 50%. Outside of a few exceptions like Walmart and Best Buy, brick-and-mortar retailers are still struggling to attract traffic and grow sales, just less so that we thought last week.

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World coronavirus updates: Confirmed cases top 1 million

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

Novel coronavirus infections have hit the 1 million mark after "near exponential growth" that's reached "almost every country," World Health Organization Director-General Tedros Adhanom Ghebreyesus said Thursday.

The big picture: The global death toll exceeded 50,000 on Thursday, per Johns Hopkins data. Italy has reported nearly 14,000 deaths. Governments around the world have introduced public health and economic measures to try and curb the impact of the virus.

Go deeperArrowUpdated 24 mins ago - Health

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6 p.m. ET: 1,007,997 — Total deaths: 52,771 — Total recoveries: 210,055Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 236,339 — Total deaths: 5,648 — Total recoveries: 8,861Map.
  3. 2020 update: The Democratic National Committee said its July convention will be postponed until August because of the coronavirus.
  4. Jobs latest: The coronavirus unemployment numbers are like a natural disaster hitting every state
  5. Public health latest: FDA allows blood donations from gay men after 3-month waiting period, citing "urgent need."
  6. U.S.S. Theodore Roosevelt: Navy removes captain of aircraft carrier who sounded alarm about coronavirus.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Judge declines to delay Wisconsin April 7 primary, extends absentee deadline

Photo: Darren Hauck/Getty Images

A federal judge on Thursday declined to delay Wisconsin's April 7 primary election, saying he doesn't have the authority to do so.

Why it matters: Wisconsin is the only state scheduled to vote next Tuesday that has not yet delayed its primary.