Tipsheet: Cramer Slams D.Store Stocks | Screaming Girls @ Macy’s | Lowe’s Accuses Woolworths | Cabela’s Sells Guns Online
Amazon’s plan to fight counterfeiters will cost legit sellers a ton by Ari Levy at CNBC. “Online stores that want to sell brands like Nike, Adidas and Hasbro are being told they have to pay a one-time nonrefundable fee of up to $1,500 per brand, according to interviews with multiple sellers. That’s after being asked to provide invoices from manufacturers or distributors that show the purchase of 30 items within the last 90 days.” Read more
Wal-Mart’s McMillon Tops Compensation List of 100 Arkansas Public Company Execs by Gwen Moritz at Arkansas Business. “McMillon and Foran, No. 4 this year, are among six current Wal-Mart executives ranked among the 10 highest-paid executives on this week’s list…Others in the top 10 are three executive vice presidents at Wal-Mart: No. 5 Neil M. Ashe, No. 6 David Cheesewright and No. 10 Rosalind G. Brewer.” Read more
LOWE’S ACCUSES WOOLWORTHS OF “OPPRESSIVE CONDUCT” AND ACTING IN “BAD FAITH” by Sarah Danckert at Sydney Morning Herald. “Lowe’s application sparked speculation it could throw a spanner in the works of Woolworths’ three deals totaling $1.5 billion to sell off parts of the Masters business to other groups.” Read more
Abercrombie & Fitch sales fall for 14th straight quarter at Reuters. “The retailer’s comparable sales at stores open at least a year fell a slightly steeper-than-expected 4 percent in the second quarter ended July 30.” Read more
Kroger could be looking to snap up Walgreens, Rite Aid stores by Steve Watkins at Cincinnati Business Courier. “Kroger is a potential buyer of some of the 500 stores that will likely be put up for sale, according to a Bloomberg report.” Read more
Cabela’s offers in-store pickup for guns bought online by Matt Brusveen at Internet Retailer. “Cabela’s Inc. on Monday became the largest online retailer to sell guns online…Customers can have the order shipped to a Cabela’s store where they can pick it up for free after going through the proper screening process. Previously, consumers could purchase ammunition online as long as it complied with the laws of the state to which it was being shipped, but could only purchase firearms in a store.” Read more
J.Crew Lines Up a New Partner With Nordstrom by Phil Wahba at Fortune. “The struggling apparel chain, which has been grappling with big sales drops after higher prices and fashion misreads angered many in its legions of shoppers, will start selling women’s clothes at 16 of the upscale department store’s locations beginning Sept. 12. Nordstrom already sells J.Crew Group’s Madewell brand at 76 stores and online.” Read more
Walgreens to partner with pharmacy benefit manager Prime Therapeutics at Reuters. “Prime Therapeutics, the fourth-largest U.S. PBM, is owned by 14 leading Blue Cross and Blue Shield health plans.” Read more
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Couche-Tard buys 53 sites in Louisiana Press Press release
CRAMER DOWN ON DOLLAR STORE STOCKS: “The wholesale wrongness of the dollar store stocks going into this quarter is one of the greatest mispricings I have seen in ages.” at CNBC. Read more
Belk headquarters listed for $80 million by Ashley Fahey at Charlotte Business Journal. “The retailer said earlier this year that it would be consolidating its headquarters operations at 2801 West Tyvola.” Read more
QVC Announces First West Coast DC “The 1 million square foot facility is expected to bring approximately 500 new jobs to Ontario (CA) by 2018 and an additional 500 jobs by 2020.” Press release
Macy’s Presents Fashion’s Front Row Ready to Kick Off New York Fashion Week “…to air nationwide on E! Thursday, September 15 at 8 p.m. ET/PT.” Press release
The ‘Once-Upon-A-Time’ Strategy: Retailers Bet On Storytelling To Bypass Digital Clutter by Barbara Thau at Forbes. “Marketing Insider Group conducted a study to investigate this strategy. Some 100 creative writers invented stories about $129 worth of items, then listed them on eBay to see if the tales upped the value of the objects for sale. The test yielded a net profit of $3.6 million. One $1.49 paperweight later sold for $197.50.” Read more
Miami – Hundreds of screaming teen-age girls gather at entrance near Macy’s to see Latin boy band by Adriana Correa at NBC 6 Miami. “Lucky fans who made a purchase of $35 or more in the Macy’s Juniors Department received a free copy of CNCO’s first album and a speed pass to meet and take pictures with the guys.” See the pics / Read more
Ex-Home Depot CIO Learned Well Before Moving Into Healthcare by Sandy Smith at Philly Mag. “Chopra’s first exposure to this new world came at Children’s Healthcare of Atlanta. “The information technology people were out of sight, but electronic records changed that,” he said. “Technology became a tool to improve patient care.” Read more
U.S. ON TRACK TO POST LONGEST STRETCH OF FALLING FOOD PRICES IN 50+ YEARS: Food Price Deflation Cheers Consumers, Hurts Farmers, Grocers and Restaurants by Heather Haddon & Julie Jargon at Wall Street Journal. “The glut is so severe in some places that dairy farmers have been dumping millions of pounds of excess milk onto fields. The U.S. Department of Agriculture just bought $20 million worth of cheese in response to hard-hit dairy farmers’ requests.” Read more (subs.)
Tipsheet Extra Stories
Navy veteran says Kroger pharmacy pill mix-up caused his kidney failure
Texas: Liquor stores get more ammunition against Walmart in booze fight
Bloomberg: Parisian Luggage Maker for the Truly Rich Seduces Luxury Giants
Retailer plans big metro Atlanta distribution center, 320 jobs
Apple’s Retail Stores Are Undergoing a Dramatic Makeover
The Google X moonshot factory is struggling to get products out the door
Five Below to open its 500th store next week
Barron’s: J.C. Penney CEO Buys Stock, Loses Money
Publix donates food to high school students in need
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