Tipsheet: Ex-Target/Dick’s Exec Now CEO | Old Navy Racial Probe | H.Depot #1 Radio ’17
The head of Boxed’s fastest-growing business is leaving amid sale talks by Jason Del Rey at Recode. “Behzad Soltani, the executive in charge of Boxed’s business-to-business division, is leaving the startup to take a C-level role at another company, Recode has learned…The company’s Chief Merchandising Officer Heather Mayo, a veteran of Sam’s Club, also exited in the fall after only a year on the job. Her departure had not been previously reported.” Read more
Amazon profits soar to $1.9B in key holiday quarter, eclipsing Wall Street’s expectations by Nat Levy at GeekWire. “…nearly two-thirds of the $3 billion in profits the company made in 2017 came in the fourth quarter. For the year, Amazon’s net sales increased 31 percent to $177.9 billion.” Read more | Press release
CANADA BREAD SCANDAL – Sobeys exploring legal action against George Weston for implicating it in bread price-fixing scandal via Financial Post. “George Weston and its main subsidiary, Loblaw Companies Ltd., admitted their involvement in what they say is an industry-wide arrangement to co-ordinate the price of bread for at least 14 years. Weston and Loblaw received immunity from criminal proceedings.” Read more
Ex-Target/Dick’s exec named CEO of Christopher & Banks by Kavita Kumar at Star Tribune. “The women’s clothing chain of 463 stores, which has been struggling for years to turn around its business, said Thursday it has appointed Keri Jones as its next chief executive. The longtime Target executive who most recently held a high-level position at Dick’s Sporting Goods is expected to start in her new role on March 12.” Read more (tiered subs.)
Tesla Expands Sales of Solar Gear at Home Depot by Matthew Townsend at Bloomberg. “Tesla is beginning to roll out Tesla-branded selling spaces at 800 of the retailer’s locations, the company confirmed to Bloomberg News. The areas, which will be outfitted during the first half of this year, are staffed by Tesla employees and can demonstrate its solar panels and Powerwall battery. Lowe’s…has also been in discussions with Tesla about selling its solar products, said people familiar with the situation.” Read more
Kroger’s Organic Produce Sales Achieve $1 Billion Press release
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Old Navy store reopens amid racial profiling probe by Aaron Young at Des Moines Register via USA Today. “I was accused that I didn’t pay for my blue bubble jacket that I got for Christmas that I wore into the store,” said Conley in the post…Conley says the store manager “was very unprofessional and stereotyped me because I was a Black male.” Read more/Video
America’s 20 most hated companies (Sears #13, NFL #3) by Kate Gibson at MoneyWatch. List
Visitor experience at Amazon’s newly opened Spheres leaves some wishing for better look inside by Kurt Schlosser at GeekWire. “…some folks who headed down to get a firsthand look at all the exotic plants and cool views were left underwhelmed by Understory, the visitor experience at the base of the Spheres that does not provide access inside the glass domes. That access is strictly for Amazon employees.” Read more
CVS, Aetna asked for more information by DOJ, deal still expected to close this year at MarketWatch. Read more
Exxon, Chevron Disappoint With Profit and Production Figures by Kevin Crowley at Bloomberg. Read more
Home Depot was Top Radio Advertiser Of 2017 at Inside Radio. “The top 10 national radio advertisers for 2017 are: No. 1 The Home Depot, No. 2 GEICO, No. 3 JC Penney, No. 4 McDonald’s, No. 5 Lowe’s, No. 6 AutoZone, No. 7 Staples, No. 8 Mattress Firm, No. 9 Macy’s and No. 10 US Dept. of Transportation.” Read more
Amazon now employs 566,000 people worldwide — a 66 percent jump from a year ago by Kurt Schlosser at GeekWire. Read more
Home Depot destroyed supplies in St.Thomas after hurricane by Nicole Carr at WSB-TV 2 Atlanta. “The company crushed one million pounds worth of goods, according to Waste Management records obtained by Channel 2 Action News. They were sent to a local landfill and claimed on the company’s insurance — rather than sorted for hurricane survivors. The company doesn’t dispute the destruction but, citing liability concerns, insisted to Channel 2 Action News that no other options were available.” Video/Read more
Tipsheet Extra Stories
Amazon Is Spending $2.5 Million To Fix Alexa’s Fatal Flaw
Environmentalism or ‘nanny state’? Efforts to regulate plastic in CA take off
Rotten Tomatoes Denounces Group Taking Aim at ‘Black Panther’ Audience Score
Amazon has a patent for a wristband that knows if workers slack off
Nordstrom to close Oregon store, in a rare move
Americans bought 226M cases of spirits in 2017 – up 4.0%
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