Tipsheet: H.Dep +4.7% | Dick’s +1.2% | TJX +4.0% | Target Bday Party | Bloomingdale’s Sale = “No”
Home Depot Q2 Comp Sales + 4.7% / U.S. + 5.4% “Home Depot…reported sales of $26.5 billion for the second quarter of fiscal 2016, a 6.6 percent increase from the second quarter of fiscal 2015.” Press release
…CNBC: Home Depot matches Street, boosts full-year forecast by Krystina Gustafson at CNBC. “It’s a good quarter but it does not deliver the upside that we’ve seen from Home Depot over the past few quarters,” Oppenheimer senior analyst Brian Nagel told CNBC’s “Squawk Box.” Read more
Dick’s Sporting Goods Q2 Comp Sales + 1.2% “Same store sales for DICK’S Sporting Goods increased 1.5%, against a strong base that included the World Cup. Golf Galaxy decreased 2.9%…eCommerce penetration for the second quarter of 2015 was 7.3% of total net sales, compared to 6.3% during the second quarter of 2014.” Press release
TJX Q2 Comp Sales + 4.0% “Net sales for the second quarter of Fiscal 2017 increased 7% to $7.9 billion…Net income for the second quarter was $562 million and diluted earnings per share were $.84, a 5% increase over the prior year’s $.80.” Press release
Ace Hardware Q2 Revenues + 0.6% “For the first six months of 2016, the 2.4 percent increase in retail same-store-sales reported by the approximately 3,000 Ace retailers who share daily retail sales data was primarily the result of a 2.2 percent increase in average transaction size.” Press release
H-E-B/Central Market make another big leap into Dallas-Fort market with purchase of six Sun Fresh Market stores by Maria Halkias at Dallas Morning News. “H-E-B isn’t sure yet how it plans to use the stores…But still there will be speculation about whether any stores might become H-E-B or Central Market…Today, H-E-B, which dominates in the state with Wal-Mart, only has a 1.9 percent market share in the Dallas area.” Read more
American Apparel struggles to afford to keep calling LA home by Lisa Fickenscher at NY Post. “The 27-year-old teen retailer, which boasts on its Web site that its togs are “Designed, Cut and Sewn in Los Angeles,” is making plans to pull up stakes and move east — possibly to North Carolina or Tennessee, where the minimum wage is $7.25.” Read more
As Macy’s shutters stores, what about Bloomingdale’s? by Teresa Novellino at New York Business Journal. “Women’s Wear Daily, which heard from sources that Bloomingdale’s is an asset that could be placed on the block, reports that Macy’s chief executive Terry Lundgren swiftly dismissed the idea of selling the chain. “No,” he said when asked about that possibility, according to the WWD report.“Bloomingdale’s is very valuable to us, and not just because they represent 10 percent of our business.” Read more
Best Buy’s stock slumps after analyst cuts rating by Tomi Kilgore at MarketWatch. “Wal-Mart increased its SKU count on 4K TVs to 9 from a few, while Target has tripled its SKU count to 15 from 5, Binder said. “[Best Buy] has above average market share in 4K TV, but will face stiffer competition this holiday season” Read more
‘Cajun Navy’ sets sail from Home Depot parking lot to rescue those trapped by Louisiana flooding by JR Ball at The Times-Picayune. “They call themselves the Cajun Navy, the Coonass Navy or the Brotherhood Soul Patrol. Whatever you call them, they’re an armada of volunteers who set sail in the early morning hours from the parking lot of The Home Depot store on Coursey Boulevard in Baton Rouge.” Read more
…Walmart and the Walmart Foundation Announce $500,000 towards Louisiana Flood Relief Efforts Press release
**A message from 2016 Sweets & Snacks Expo – The Most Innovative New Products winners have been announced! Winners were awarded in nine categories: chocolate, non-chocolate, sweet, salty, savory, novelty, seasonal, gourmet/premium and gum/mints. See the winners here The 2017 Sweets & Snacks Expo is nearly 90% sold out and will take place May 23-25 at Chicago’s McCormick Place – Notify me when registration opens
Take a peek at the $45M estate an Apple cofounder just listed by Kevin Truong at San Francisco Business Times. See the 20 pics
Supervalu shares rose 11 percent Monday – to become the primary supplier for The Fresh Market via Pioneer Press. Read more | Press release
NY Times: Their Hair Fell Out. Should the F.D.A. Have the Power to Act? by Eric Lipton & Rachel Abrams. “People don’t realize there is effectively no regulation of cosmetics,” said Representative Frank Pallone Jr., Democrat of New Jersey. He, along with Ms. Feinstein and Ms. Collins, has pushed to strengthen a 1938 law that was passed to regulate the pharmaceutical industry but contained two pages that addressed cosmetics, leaving it essentially unregulated.” Read more
Target to open small-format stores in S.F.’s Stonestown Galleria and East Palo Alto
Patagonia’s CEO Explains How To Make On-Site Child Care Pay For Itself by Rose Marcario at Fast Company. Read more
Container Store to open first Pittsburgh store by Paul J. Gough at Pittsburgh Business Times. Read more
Mom throws Target-themed birthday party for son, 7, at store by Geoff Herbert at Syracuse.com. “She…asked if kids could play with the registers, and sought a Bullseye the Dog costume but got a “no”…However, she was allowed to invite friends and family to celebrate in the cafe area, complete with a homemade cake in the shape of the canine mascot, cupcakes with the bullseye logo, red-and-white balloons and coloring pages with crayons.” See the party pics / Read more
Tipsheet Extra Stories
4-year-old hospitalized after hit by falling pallet in Sam’s Club
Restaurant slammed for ‘black olives matter’ merchandise
Police hunt for woman who poured bleach on a shopper and little girl at a Target
Walmart employee bit by monkey in store parking lot
Minnesota Cup names 25 finalists for “breakthrough business ideas”
Canada: Manitoba government hints at expanding Sunday shopping past 6 p.m.
Judge rules professor falsely imprisoned at Canadian Tire
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