Tipsheet: D.Tree Miss | B.Pro/Sandy Hook Talk | Cornell @ CNBC | Amazon #3 Bank?
Dollar Tree Q4 Comp Sales +2.4% (Dollar Tree +3.8%, Family Dollar +1.0%) Press release
…Dollar Tree same-store sales, forecast disappoint; shares fall at Reuters. “Wall Street analysts had expected same-store sales at Family Dollar to rise 1.46 percent and 3.99 percent at Dollar Tree stores, according to Thomson Reuters I/B/E/S.” Read more
Bass Pro CEO Holds ‘Constructive’ Talk With Sandy Hook Families by Polly Mosendz at Bloomberg. “Bass Pro Shops…has emerged as one of the highest-profile national retailers that still sell (assault-style rifles).” Read more
Amazon offers discount Prime membership to Medicaid recipients at Reuters. “To qualify for the discounted $5.99 monthly Prime membership, customers must have a valid Electronic Benefits Transfer or Medicaid card and can renew it annually for up to four years, the company said.” Read more
Target to offer free two-day delivery for Redcard holders or $35 orders by Kavita Kumar at Star Tribune. “In addition to the proliferation of delivery options, Cornell also said Target will raise the minimum wage for its store workers to $12 an hour this spring.” Read more (Tiered subs.)
…Brian Cornell Interviewed Yesterday @ CNBC 2:27 video | Transcript
…Target told employees they could wear jeans on the weekends if same-store sales grew at CNBC. “Expect to see a lot more denim,” CEO Brian Cornell told analysts and investors Tuesday during the retailer’s annual meeting with the financial community.” Read more
Ross Stores Q4 Comp Sales +5.0% Press release
Walmart CFO Brett Biggs spoke Tuesday at the Raymond James Conference by Kim Souza at Talk Business. “Biggs said Walmart remains focused on its cost-discipline agenda. He said the Everyday Low-Cost initiative is part of Walmart’s DNA and while in recent years it wasn’t as dominant, there is a renewed focus on EDLC around the company.” Read more | Transcript via Seeking Alpha
Casey’s Q3 Comp Sales: Fuel +3.8%; Grocery/Merch +2.5%; Prepared Food/Fountain +1.7% Press release
**A message from ReadyStrainer – Sink full of dirty dishes and need to drain noodles? The ReadyStrainer sits at the side of the sink and directs water into the sink! Avoid contact with dirty dishes and bacteria. Product Overview | Website | Sample: info@shiftmarketinggroup.net
Amazon could become the third-biggest US bank if it wants to: Bain study at CNBC. “We could imagine Amazon’s banking services growing to more than 70 million U.S. consumer relationships over the next five years or so — the same as Wells Fargo, the third-largest bank in the US.,” wrote Bain’s Gerard du Toit and Aaron Cheris.” Read more
Walmart is about to open a technology research center in Plano’s Granite Park by Maria Halkias & Melissa Repko at Dallas Morning News. “Walmart spokeswoman Anne Hatfield said the Plano office is similar to one that opened in February in Austin. Each one will employ 50 to 60 people by the end of this year.” Read more (Tiered subs.)
Forbes Billionaires 2018 (Bezos #1) List
Could This Be the Worst Spring in Years for Home Sales? by Laura Kusisto at Wall Street Journal. “Lawrence Yun, chief economist at the National Association of Realtors, said he expects sales to be flat this spring from a year earlier. Roughly 2.06 million homes were sold between March and June 2017, up from about 2 million in the same period a year earlier, according to the National Association of Realtors.” Read more (Subs.)
Amazon Canada ad manager says ‘secret sauce’ to success is a customer-first focus by Lisa Wright at Toronto Star. “We don’t make money when we sell things, we make money when we help customers make purchase decisions,” he noted.” Read more
Dick’s Sporting Goods and Walmart See Lift in Perception After Altering Gun Sale Policies by Katie Richards at Adweek. “While 7 percent of consumers were talking about (Dick’s) on Feb. 28, 25 percent were talking about the brand (either in person or online) over this past weekend. “Walmart’s rise in perception was mainly fueled by Democrats and independents, while Republican perception dipped mildly,” the report from YouGov noted.” Read more
Two private equity firms plan to buy CommerceHub for $1.1 billion by April Berthene at Internet Retailer. Read more
Gulden Mesara has joined Walgreens as VP of U.S. communications by Alison Kanski at PR Week. “Prior to joining Walgreens, Mesara spent more than five years at AbbVie, most recently as VP of global health and commercial communications.” Read more (Tiered subs.)
Target Q4 Earnings Call Transcript at Seeking Alpha. Read more
Airbnb hires former head of Amazon Prime to run its core business at Recode. “(Greg Greeley) never did rise to Jeff Bezos’s most-senior executive level of senior vice president. He was recently expected to start overseeing Whole Foods’ integration into the Amazon Prime program, but never ended up serving in that role.” Read more
Home Depot Presents at Raymond James Institutional Investors Conference at Seeking Alpha. Transcript
Sam Walton would turn 100 years old on March 29 – Walmart Museum has planned a Centennial exhibition for downtown Bentonville on April 6 by Jennifer Joyner at Talk Business. Read more
Barneys New York Announces Mantle, a Virtual Reality Experience Press release
The Best Men’s Underwear for Your Budget: We Tested 45 Kinds by Jacob Gallagher at Wall Street Journal. Read more (Subs.)
Tipsheet Extra Stories
Family purchases, eats decades-old cereal bought from Walmart
FBI paid Geek Squad staff to be informants, documents show
Overstock.com’s CEO Thinks Crypto Can Replace Wall Street
Coca-Cola plans to launch its first alcoholic drink
Loblaw adds cricket powder to President’s Choice line
Yes, Those Are Probably Bugs In Your Paprika.
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