Eye-on-Retail Tipsheet 4/9/13: Menards opens in St.Louis; Home Depot CEO pay raise
“Costco, Macy’s Eye China E-Commerce” by Doug Young at Forbes. “Their strategy reflects an emerging trend that has big western chains circumventing the traditional retailing route into China, seeking to avoid the big costs and risks that have led to big losses and retreats for names like Best Buy and Home Depot. But the online strategy also carriers its own risks, as China’s e-commerce space is also quite crowded and retailers that go online face an uphill road getting recognized by brand-conscious Chinese consumers.” Read more: https://www.forbes.com/sites/dougyoung/2013/04/08/costco-macys-eye-china-e-commerce/
“Kroger grocery chain to install 225 electric car chargers” at SF Gate. “The company reported this morning that Kroger, the nation’s largest supermarket chain, will spend $1.5 million installing Ecotality’s Blink charging stations at 125 stores in Los Angeles, Phoenix and San Diego. Kroger will install 225 stations in all, including 25 DC fast chargers. The grocery chain already has 60 Blink chargers in Oregon and Washington, as well as 14 in Texas.” Read more: https://blog.sfgate.com/energy/2013/04/08/kroger-grocery-chain-to-install-200-electric-car-chargers/
“J.C. Penney: Firing CEO Johnson Was Probably Easy. His Exit Package Is Tiny” by Abram Brown at Forbes. “Johnson, who’s been replaced at J.C. Penney by his predecessor, Mike Ullman, will receive just $148,924 in severance, a truly paltry figure compared to the exit packages that many ousted executives leave with. Investors should take solace in that. Johnson was earning $1.5 million in a base salary, and, of course, could’ve earned millions of dollars more in lucrative stock options. If his turnaround strategy had been working.” Read more: https://www.forbes.com/sites/abrambrown/2013/04/08/j-c-penney-firing-ceo-johnson-was-probably-easy-his-exit-package-is-tiny/
“Region’s (St. Louis) first Menards stores set to open Tuesday” by Kavita Kumar at St. Louis Post-Dispatch. “The home-improvement landscape around here will get a little more interesting come 6:30 a.m. Tuesday. That’s when Menards will open the doors of its first crop of stores in the St. Louis region. The two stores — located at 1179 Central Park in O’Fallon, Ill. and 151 Spencer Road in St. Peters — will be the metro region’s first look at the Wisconsin-based retailer” Read more: https://www.stltoday.com/business/columns/consumer-central/region-s-first-menards-stores-set-to-open-tuesday/article_feea2bba-4d4a-5f1d-8c8d-1e3c653c694b.html
“Home Depot CEO’s pay rises to $11.1 million” at Atlanta Journal-Constitution. “His 2012 compensation, up from $10.8 million in 2011, included $3.6 million in salary and bonus, $7.2 million in company stock and stock options, and $291,889 in perks such as personal use of company aircraft.” Read more: https://www.ajc.com/news/business/home-depot-ceos-pay-rises-to-111-million/nXGS7/
“Amazon’s Bezos invests $5 million in Business Insider” at B to B Online. “Bezos Expeditions, the personal investment company of Amazon.com CEO Jeff Bezos, has led a $5 million round of financing for business news site Business Insider. Other existing Business Insider investors, including Institutional Venture Partners and RRE Ventures, participated.” Read more: https://www.btobonline.com/article/20130408/MANAGEMENT11/304089994/amazons-bezos-invests-5-million-in-business-insider
“Best Buy May Be the Next Home Depot” at Forbes. “Credit Suisse analyst Gary Balter on Monday said in a client note that Best Buy’s strategy is to become the consumer electronics version of Home Depot, which he believes carries a premium customer experience, driving above average profit margins.” Read more: https://www.forbes.com/sites/thestreet/2013/04/08/best-buy-may-be-the-next-home-depot/
“ALDI Redefines Gourmet with New Premium Brand, ‘Specially Selected'” “Identified by its sophisticated packaging, the brand features a range of specialty products available periodically throughout the year – from German coffees and gourmet pastas to premium meats and cheeses. ALDI first launched the Specially Selected line in Europe, where many of the brand’s products have won awards and attracted a devoted following.” Read more: https://media.prnewswire.com/en/jsp/latest.jsp?resourceid=6614022&access=EH
“Macy’s Salutes “American Icons” This Summer” “Macy’s today announced American Icons, a cross-country tribute to the beloved traditions, people and landscapes of America. From baseball and drive-in movies to legendary designers and destinations, America’s department store is honoring the popular brands, all-star events, cherished pastimes and meaningful causes that have contributed to our culture.” Read more: https://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsLang=en&newsId=20130408006020&div=-1245645151
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