Tipsheet: Bank Sues Lowe’s | F.Locker Sneaker Fights | Costco Tax Help | Kohl’s +7%
Kohl’s boosts full-year outlook on strong holiday sales, shares soar at CNBC. “Kohl’s on Monday reported same-store sales during the holidays climbed nearly 7 percent from 2016. Recent initiatives including partnering with Amazon and bringing in more items from popular athletic apparel brands Under Armour, Nikeand Adidas are paying off for Kohl’s, which said more people have been shopping its stores.” Read more
Raymond James sues Lowe’s over investment banking deal by Margie Manning at Tampa Bay Business Journal. “Lowe’s agreed to pay Raymond James $200,000 for any deal that closed…In November 2015, Lowe’s notified Raymond James that it was having direct discussions with Maintenance Supply, and in September 2016, Lowe’s told Raymond James that it would not engage Raymond James to serve as investment banking advisor in connection with that deal, although it was still willing to pay Raymond James the $200,000 transaction fee.” Read more
Fights break out at Foot Locker pop-up store – closes just an hour after it opens by Jordan Graham at Boston Herald. “There was a line to the end of the block, a very orderly line,” said Mike Cutty, who came from Providence. “Everyone gets excited and worked up because they see people cutting, the security isn’t doing their job and keeping order. Once security blows that, it’s a wrap.” Read more
…Lucky man bought a pair of Kyrie 3 Rayguns for $120 – sold them from the trunk of a car for $1,000
Amazon captured 89 percent of online spending among dominant holiday retailers in the five-week period beginning on Thanksgiving by Spencer Soper at Bloomberg. Read more
Whole Foods places new limits on suppliers, upsetting some small vendors by Abha Bhattarai at The Washington Post via Post Dispatch. “…under the new rules, Whole Foods is requiring suppliers to work exclusively with Daymon, a Stamford, Conn.-based retail strategy firm, and its subsidiary, SAS Retail Services, to schedule in-store tastings, check inventory on shelves and create displays on their behalf.” Read more
Target will wind down Instacart partnership as focuses on Shipt acquisition by Kavita Kumar at Star Tribune. “…there is no timeline yet for when delivery via Instacart from Target stores in the three markets where it offered the service — the Twin Cities, Chicago, and San Francisco — will end.” Read more (tiered subs.)
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Robomart is the latest startup to try and unseat the local c-store by Jonathan Shieber at TechCrunch. “Customers would license the platform, vehicle and all, on a 24 month lease. “It’s significantly cheaper than setting up a new store,” Ahmed said….Interiors come equipped with either a refrigeration or heating system, and Ahmed says he’s talked to wholesalers about equipping separate trucks to mimic different sections of a grocery aisle — from dairy, to poultry, to meat, to vegetables.” Read/See
An early look at Nike’s newest headquarters buildings and art-infused upgrades by Clare Duffy at Portland Business Journal. 24 pics
10% of Amazon workforce in Ohio on food stamps at The Alliance Review. “…according to Policy Matters Ohio, a progressive policy group…Amazon likely has about 700 workers receiving food stamps, more than 10 percent of its Ohio workforce.” Read more
Logo dispute between HealthPartners and Sam’s Club is quietly settled by Christopher Snowbeck at Star Tribune. “Neither party is commenting on the settlement terms, although both seem to still be using logos that feature three overlapping tilted squares in green, blue and purple.” Read more (tiered subs.)
Costco suggests shoppers go to Tukwila to avoid Seattle’s sugary drinks tax by Matt Day at Seattle Times. “A notice, spotted by the Washington Policy Center advocacy group, appears alongside a pack of Gatorade that received a bit of internet fame this week as people passed on the image of the tax markup.” Read more
…Tax adds $10.34 to 35-ct case of Gatorade!
Famed Seattle restaurateur Tom Douglas is partnering with Nordstrom on his first Eastside restaurant, Department Bento at Eater Seattle. Read more
Venezuela supermarkets besieged after government forces price cuts at AP via Yahoo. “Authorities on Friday ordered supermarkets to cut prices to levels they were a month ago, a drastic reduction given Venezuela’s hyperinflation. At one supermarket in a high-end district of Caracas, hundreds of people including babies, pensioners and children with disabilities gathered in chaotic scenes. “We’re hungry! We want food!” they screamed.” Read more
Tipsheet Extra Stories
H&M slammed for racism after showing black boy in ‘coolest monkey in the jungle’ hoodie
The Country’s best sandwiches are made by this grocery chain
J. Crew chairman buys Miami Beach lot from former MTV CEO
Crook uses illusion trick to steal hundreds of dollars from Walmart
Judge sentences former grocery exec to 10 years in child porn case
These Are the U.S. Cities With the Worst Bed Bug Infestations
Woman avoids jail after locking kids in trunk to shop at Walmart
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