Thursday Tipsheet: H.Depot in Court Fri. | Boxed Raises $25M | Etsy Eyes $300M IPO | ‘Walmart Cowboy’
Holiday sales increase 4 percent: NRF by Krystina Gustafson at CNBC. “Weaker-than-expected retail sales data shook investor confidence on Wednesday, as sales failed to reflect the boost from a steep drop in gasoline prices that many were expecting.” Read more
Drop in December retail sales adds doubt to strength of U.S. economy by Shan Li at LA Times. “In December, retail sales dropped 0.9% to $442.9 billion, the largest fall since January 2014, the Commerce Department said Wednesday. The increase in spending from October to November was also revised downward to 0.4% from 0.7%.” Read more
Boxed, a bulk shopping app, raises $25 million by Erin Griffith at Fortune. “The New York startup has now raised a total of $33 million in venture funding; it will use the new capital to build out its fulfillment capacity and increase its assortment of goods offered. With a team of just under 30 employees and three warehouses, Boxed has been operating since 2013, when it launched in the Northeast.” Read more
Adviser switches Family Dollar recommendation to vote ‘yes’ on Dollar Tree plans by Ely Portillo at Charlotte Observer. “ISS had previously recommended shareholders delay the final vote on the Dollar Tree deal, which had been scheduled for December, so they could learn more about the competing bid from Dollar General.” Read more
Giant Home Depot data breach court battle kicks off Friday by David Allison at Atlanta Business Chronicle. “It will be overseen by Chief Judge Thomas W. Thrash Jr., who has scheduled an initial case management conference at 10 a.m. on Jan. 16 in Courtroom 2108 at the Richard Russell Federal Building on Spring Street in downtown Atlanta.” Read more
Best Buy’s website had glitches for hours yesterday by Kavita Kumar at Star-Tribune. “Customers were greeted by the words “coming soon” on product pages where an “add to cart” button should have been. But the issue appeared to be mostly resolved by mid-afternoon.” Read more
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Amazon eyeing majority stake in India logistic firm Blue Dart by Ashwin Mohan at The Economic Times. Read more
I Was an Amazon Chew Toy by Corina Zappia at The Awl. “A Level 7 employee to my Level 4, senior management to my near-entry-level, Scott had only had one appointment with me so far, a little “get to know you” when I first started at Amazon that I had to share with another underling; he spent the first part of it on the phone, refilling a prescription. His assistant told me that I would need to take up my quest to be dog-free with human resources. Read more
Walmart Canada Finds Innovative Approaches to Raising up Women Managers at Diversity MBA. “The percentage of female store managers was stagnant before Women in Retail began in 2010, remaining at about 15.5 percent between 2005 and 2009. That percentage jumped slightly by the end of 2010 to 16.9 percent and more sharply after that; it reached 26.3 percent by the end of 2013. Adding in all full-time managers, the figure is just over 50 percent, Pinnock said.” Read more
RadioShack prepares to file for bankruptcy at Fortune. “Electronics retailer RadioShack is preparing to file for bankruptcy protection by next month, the Wall Street Journal reported citing people familiar with the matter.” Read more
Etsy plans IPO to raise $300M at New York Business Journal. Read more
Wayfair Partners with Sherwin-Williams to Offer Shoppers Color Inspiration Read the release
Meijer stores to open this summer around southeastern Wisconsin by Max Seigle at WISN-ABC. “The Oak Creek store is one of four Meijer stores that will open in Wisconsin this summer. The others are in Grafton, Kenosha and Wauwatosa.” See the video / Read more
‘Walmart Cowboy’ uses guitar to begin life anew by Jennifer Cording at Del Marva Media. “So, he’s the “Walmart Cowboy,” as local social media have dubbed him. He’d heard that people call him that now, says Melzer, 40, who is living in a nearby motel. “I don’t expect people to give me money,” says Melzer. “I’m happy if they just wave to say, ‘Hi.’ But he does need money. That’s why he’s playing the guitar.” See the video / Read more
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