Thursday Tipsheet: Wmart: Comp +.5%; Axe 200 at Can HQ? | Target: Rosa Parks & Chicago
“Walmart Q3 Comp Sales +.5% in U.S.” “Sam’s Club comp sales, without fuel,1 increased 0.4 percent for the 13-week period ended Oct. 31. Sam’s Club increased membership income 10.1 percent for the quarter, and grew operating income more than twice the rate of sales growth. E-commerce sales globally increased approximately 21 percent on a constant currency basis.” Read the release
CNBC’s Take: “Wal-Mart tops earnings estimates; shares climb” “The retail giant reported a profit of $1.15 a share on revenue of $118.01 billion. Wall Street had expected the company to post earnings of $1.12 per share .” Read more
“Target buys in-store personalization startup Powered Analytics” by Justin Coyne at Pittsburgh Bus. Times. “With its Fabric product, Powered Analytics developed the first in-store personalization platform to bring an “Amazon-like shopping experience” into a physical store.” Read more
“Wal-Mart Canada set to axe 200 employees at head office” by Marina Strauss at Globe & Mail. “Andrew Pelletier, a spokesman for Wal-Mart Canada, said on Wednesday that he could not comment on rumours or speculation. “In this competitive retail climate it’s not unusual for rumours to circulate.” Read more
“Meet the Canadian Hero Who Opened His Own Rogue Trader Joe’s in Vancouver” by Sierra Tishgart at Grub Street. “They got a picture of me from some press thing, so a year ago, I’d go into a Trader Joe&’s, and within ten minutes, someone would be tapping me on the shoulders saying, “We’re not going to sell to you.” Now I hire shoppers off Craigslist. It sounds sketchy: “So, you’ve got to sneak into Trader Joe’s for me and buy groceries.” Read the interview
“Two Chicago TargetExpress stores are reportedly in the works” by Nick Halter at Minn./St. Paul Bus. Journal. “The Minneapolis-based retailer is planning stores in Chicago’s Lakeview and Streeterville neighborhoods, reported Crain’s Chicago Business, citing unidentified sources.” Read more
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“Target Canada undergoes sales strategy makeover as key Christmas season nears” by Hollie Shaw at Financial Post. “We had a lot of wool outerwear last year, and it didn’t sell,” John Butcher, target Canada’s senior vice-president of merchandising, said in an interview this week. Canadians prefer a more “durable” product — coats with fabric that repels water and wind — rather than the coats that sell well in some cold-weather U.S. markets. “We got rid of 90% of our outerwear assortment from last year and just started over.” Read more
NY Times: “Alex From Target: The Other Side of Fame” by Nick Bilton. “Mr. Fooks said that in addition to death threats, people have leaked the family’s personal information online, including Social Security numbers, bank accounts and phone records. The family, worried for the safety of Alex and his five siblings, has been in contact with the local police. Alex’s parents have met with his school’s principal and security officers, as well as Target managers, to put together security plans in case of an emergency.” Read more
“Ace Hardware reports record third quarter revenue” by Lewis Lazare at Chicago Bus. Journal. “Ace Hardware today announced record revenues of $1.13 billion for the third quarter of 2014, a year-over-year increase of $94.6 million (9.1 percent).” Read more
“House Dem presses breached companies for info” by Cory Bennett at The Hill. “Rep. Elijah Cummings (Md.) sent letters Wednesday to five companies that have experienced high-profile data breaches this past year — Home Depot, Target, Kmart, Community Health Systems and U.S. Investigations Services (USIS).” Read more
“Rosa Parks Institute Says Target Merch Is Not Free Speech” by Bill Donahue at Law 360. “Target Corp. is claiming merchandise bearing the name and image of civil rights icon Rosa Parks is protected free speech, but the group that owns Parks’ publicity rights on Monday called it “an arrogant and reckless disregard for the only charity started by [a] selfless martyr.” Subscription required
“Retail Janitors Have Had Enough – Threaten Black Friday Strike” by Bill Sorem at The Uptake. “Janitors who clean Home Depot and other Twin Cities stores are using the upcoming holiday shopping season to put pressure on the big box retailers and the subcontracting companies that employ the janitors to raise their pay. Dozens of janitors are threatening to strike if there is not an agreement to comply with a “Responsible Contractor Policy” like Target Corporation agreed to earlier this year.” Read more / See the video
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