Tipsheet: Costco Owes Tiffany $5.5M | Bass Pro Buys Cabela’s | Blue Apron’s ‘Violent’ Facility | Lottery Looters
Costco owes Tiffany & Co. $5.5M for selling ‘Tiffany’ rings by Lisa Fickenscher at NY Post. “The wholesale club claimed Tiffany was a generic description. But during the trial, Judge Laura Taylor Swain was having none of it — noting that Costco’s jewelry buyers asked vendors to copy Tiffany designs and that Costco customers were confused about the brand.” Read more
Bass Pro Shops hooks Cabela’s in $5.5 billion deal at Reuters. “The offer of $65.50 per share is a 19.2 percent premium to Cabela’s Friday close. Shares of Cabela’s jumped nearly 15 percent to $62.88 in premarket trading and were set to open at their highest in more than two years.” Read more
Report Details Blue Apron’s Violent, Unsafe, High-Pressure Packing Facility by David Z. Morris at Fortune. “The apex of the problems came in August of last year. On a single day, the facility experienced two threats of violence from employees, while at the same time management met with Occupational Safety and Health Administration investigators regarding what would become nine workplace safety citations.” Read more
…Blue Apron is on pace for more than $1 billion in sales as it preps for an IPO by Jason Del Rey at Recode. Read more
Rebel Teens Are Killing America’s Clothing Giants by Kim Bhasin at Bloomberg. “Two years ago, Aéropostale Chief Executive Officer Julian Geiger shared his view of the adolescent shopper. “The teenager today wants to fit in,” he told analysts. “They want to fit in by wearing things that make them feel safe. If there’s a brand promise toAéropostale, it’s that the teenager can wear our clothes, go to school, and not be teased or made fun of the way they look.” It turned out he was wrong.” Read more
Gander Mountain President Derek Siddons Q&A by John Ewoldt at Star Tribune. “Q: How do you differentiate yourselves from competition at Cabela’s, Fleet Farm, Sportsman’s Guide, Bass Pro Shops and other outdoor stores? A: We dedicate resources to finding regional products. The local standpoint is important. Fishing is different in Duluth than it is in Bemidji, just as Minnesota fishing is different from Florida. Our stores have autonomy. They didn’t used to have that.” Read more
Costco’s CFO doesn’t believe his company is ‘Amazon-proof’ by Eugene Kim at Business Insider. “We don’t buy that for a minute,” Galanti said during Costco’s earnings call, referring to reports that dubbed his company “Amazon-proof” or “internet-proof.” Read more
Some NC lottery retailers win bigger than their customers by Adam Bell & Gavin Off at Charlotte Observer. “In a convenience store north of Raleigh, the retailer selling lottery tickets has won more big prizes than any of his customers. Amitkumar Pandya collected nearly $90,000 from 2009 through last year. He claimed 42 of the 99 winning tickets sold at his Franklinton store during that time, records show, mostly from scratch-off tickets….he’d have a better chance of flipping a coin 142 times and getting heads each toss, a Virginia Tech statistician estimated.” Read more
Amazon Echo and Alexa groups are currently looking to fill 400 positions by Jason Del Rey at Recode. Read more
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Advanced Auto Parts races to the top of desktop site performance index – Home Depot moves into Top 10 by April Berthene at Internet Retailer. Top 10 desktop sites | Top 10 mobile sites
Honest Co. is reformulating its soaps after ingredients controversy by Lora Kolodny at TechCrunch. “The consumer products startup founded by Jessica Alba, The Honest Co., on Friday told The Wall Street Journal that it plans to reformulate its dish soap, laundry detergent and other cleaners after an earlier controversy over their ingredients.” Read more
Australia: Costco to take over warehouses left empty by failed home improvement chain Masters by Josh Hanrahan at Daily Mail. Read more
Wall Street Journal Obit: Charles Walgreen III Propelled Family Firm by Focusing on Drugstores by James R. Hagerty. “L. Daniel Jorndt, who succeeded Mr. Walgreen as CEO and became the first person outside the founding family to run the company, said his predecessor was so shy and reserved that many people underestimated him. “He was content to be in the background,” Mr. Jorndt said. Mr. Walgreen made the big strategic decisions and delegated the details. “He’d let you make a lot of mistakes if you were trying to do things right”. Read more (subscription)
Schnucks strike not imminent, negotiations are ongoing, employee union says by Lisa Brown at St. Louis Post Dispatch. Read more
Higher shipping fees will force e-retailers to adjust by April Berthene at Internet Retailer. “UPS and FedEx are raising their ground shipping rates 4.9% after the holidays, and some additional fees will kick in sooner.” Read more
Costco to expand aggressively in Canada over the next year, adding seven stores in fiscal 2017 by Hollie Shaw at Financial Post. Read more
Online Meal Delivery Service Home Chef raises $40 million, its biggest funding round yet by Matt Linder at Internet Retailer. Read more
Q&A: Frito-Lay’s New CMO on Why the Brand Is Making Doritos Out of Cardboard by Robert Klara at Adweek. “Was upper management nervous about putting cardboard in a bag and calling it Doritos? It was a bold step to put cardboard chips in that bag, especially when typically we’re trying to raise the appetite appeal.” Read the Q&A
Tipsheet Extra Stories
The ‘Average’ Woman Is Now Size 16 Or 18. Why Do Retailers Keep Failing Her?
Harvard Business Review: Why More American Men Feel Discriminated Against
Walmart hourly employee says bonus pay plan helps morale, critics say bonus not enough
Lady Gaga Is Going On Tour To Dive Bars Across America
Former Pilot Flying J Execs Want to Move Trial
Man With Hatchet Tries to Rob Container Store – Leaves When Register Isn’t Opened
New pet food delivery service debuts in Twin Cities
J.C. Penney offers refunds on questionable towels, comforter set
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