Tipsheet: D. Gen +2.1% | D.Tree +1.4% | B.Buy Unveils | Foran Encourages
Dollar General Q1 Comp Sales +2.1% (vs. +3.2% expected) Press release
…Fox Business: Dollar General 1Q profit surges, but still short “Profit jumped 9 percent to $364.9 million, or $1.36 per share, falling short of the expectations of industry analysts by 4 cents.” Read more
Dollar Tree Q1 Enterprise Comp Sales +1.4% (vs. +2.19% expected) By segment: Dollar Tree +4.0%, Family Dollar -1.1% Press release
…CNBC: Dollar Tree Q1 same-store sales miss estimates “Net income fell to $160.5 million…in the first quarter ended May 5, from $200.5 million…a year earlier.” Read more
American Eagle Q1 Comp Sales +9.0% (American Eagle +4.0%, Aerie’s +38%) Press release
Best Buy unveils new Amazon Fire-powered smart TV by Nat Levy at GeekWire. “The new TV comes in three models — a 43-inch version for $329.99, a 50-inch model for $399.99 and a 55-inch version for $479.99 — and will be released June 22. The TV Will be available at all Best Buy stores, on BestBuy.com and from Best Buy’s new channel on Amazon.com.” Read more
J.Crew Q1 Enterprise Comp Sales +1.0% (J.Crew -6.0%, Madewell +31%) Press release
Fragile supply of antibiotics leads to shortages at Reuters. “The non-profit Access to Medicine Foundation (AMF) said there was an emerging crisis in the global anti-infectives market as fragile drug supply chains – reliant on just a few big suppliers – come close to collapse.” Read more
J.Jill Q1 Comp Sales +2.3% Press release
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Walmart holds no-frill shareholder business meeting by Kim Souza at Talk Business. “Tom Horton, retired CEO of American Airlines, was named lead director as Dr. James Cash is exiting the board…The other directors elected by a majority vote were Penner, McMillon, Tim Flynn, Carla Harris, Marissa Mayer, Rob Walton and Steuart Walton.” Read more
…Walmart U.S. CEO Greg Foran encourages employees to ‘add your creative flair’ by Jeff Della Rosa at Talk Business. “Michael Moore, EVP and president of Supercenters, and Todd Harbaugh, EVP of Neighborhood Markets, along with Steve Bratspies, EVP of general merchandise, encouraged the use of the volume producing item (VPI) program in which employees select a specific item to help increase sales…the item (Bratspies) selected was squishies toys before employees threw out hundreds of them to employees in the arena.” Read more
…Walmart unveils new associate education benefit “…will be made available to all Walmart U.S. and Sam’s Club associates, Walmart will subsidize the cost of higher education, beyond financial aid and an associate contribution equivalent to $1 a day.” Press release
PVH CEO sits down with Jim Cramer at CNBC. “PVH CEO Manny Chirico is a little more optimistic these days about the ongoing tariff rhetoric between the United States and China. “It feels like cooler heads will prevail,” he says.” Video/Read more
…PVH First quarter revenue +16% (+10% on a constant currency basis) Press release
Jeff Bezos: Amazon deserves to be scrutinized as a giant company, aims to ‘pass with flying colors’ by Todd Bishop at GeekWire. “It sometimes feels that the “enemy hordes are at the gates,” in a way that Amazon hasn’t seen in years past. That was the assessment of one shareholder who quizzed CEO Jeff Bezos during the question-and-answer session at the company’s annual meeting Wednesday morning in Seattle…” Read more
Kroger Precision Marketing Launches Boosted Products in Search Press release
Effects of E.coli Outbreak in Lettuce Ripple Through U.S. Food-Supply Chain at Wall Street Journal. “It’s [cost] thousands and thousands of dollars; it could even run into the millions,” said Howard Popoola, Kroger Co.’s vice president of corporate food technology and regulatory compliance, referring to costs at the largest U.S. supermarket chain…Earlier this month, sales had dropped 45% from the year-ago period, according to Nielsen figures.” Read more (Subs.)
Stitch Fix CEO Katrina Lake says her one regret with the IPO is that they let expectations get really high at Recode. Read more
Target and Shipt Launch Same-Day Delivery in Indiana Press release
Sears to close another 72 stores at USA Today. “The company said it had identified about 100 nonprofitable stores overall…It did not say what would happen to the 28 other nonprofitable locations.” Read more
Tipsheet Extra Stories
These tech companies have the most stressed-out workers
Canada Goose to open two retail stores in China
From armor to icon: How women’s suits became cool again
Starting in July, Australians will be blocked from ordering items on Amazon’s US site
How Sleep Became The Ultimate Luxury
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