Tipsheet: Hollar CEO Search | Stitch Fix CEO Q&A | Macy’s Beats | MN #2
Macy’s Q4 Comp Sales (Owned) +1.3% Press release
…Macy’s earnings for the holiday quarter top expectations, sending shares soaring at CNBC. “Earnings per share: $2.82, adjusted, vs. $2.71 expected. Revenue: $8.67 billion vs. $8.68 billion expected. Same-store sales: a 1.3 percent increase vs. growth of 0.1 percent expected.” Read more
Lumber Liquidators Q4 Comp Sales +4.5% Press release
…Lumber Liquidators beats 4Q profit forecasts via Yahoo Finance. “Lumber Liquidators shares have declined 21 percent since the beginning of the year. The stock has risen 42 percent in the last 12 months.” Read more
AutoZone Q2 Comp Sales +2.2% Press release
Dillard’s Q4 Comp Sales +3.0% Press release
Walmart confirms plans to launch new apparel, home brands at CNBC. “Walmart is rolling out apparel brands — Time and Tru for women, Terra & Sky for plus sizes and Wonder Nation for kids. Its existing line, George, is also getting a refresh. In a major push with private labels, Walmart is also launching a new mattress and bedding brand called Allswell.” Read more
Hollar — the dollar store mobile app worth $200 million — is looking for a new CEO by Jason Del Rey at Recode. “During Recode’s initial interview with Yeom, he seemed to suggest that the idea to replace him originated with Hollar’s board of directors. But after Hollar investor and board member Jeremy Liew of Lightspeed Venture Partners told Recode the decision was Yeom’s, the founder’s tune seemed to change.” Read more
Target + Techstars alum AddStructure acquired by Bazaarvoice by Jim Dallke at Chicago Inno via Minneapolis/St.Paul Business Journal. “It has quickly caught on with e-commerce companies, and was one of 10 startups selected to the first-ever Target+Techstars retail accelerator in Minneapolis. It’s also working with Target on a natural language online shopping tool.” Read more
**A message from 2018 Sweets & Snacks Expo – Be first to market with the newest candy and snack products! See the 2017 Innovation Winners. Put yourself in the center of the single largest gathering of confectionery & snack companies under one roof – schedule your trip now! Chicago, May 22-24, 2018. Website | Exhibitors
Sam’s Club and Instacart team up to offer same-day home delivery in three cities at USA Today. “…in Austin, St. Louis and Dallas-Ft. Worth starting Tuesday. 2/27.” Read more
Big Consumer Brands Don’t Have an Answer for Alexa at Wall Street Journal. “When it comes to voice search you go first position or you go home because beyond the first or second place there is no future,” Mr. Szczepaniak said. In a test conducted in October, Bain & Co. found that…in categories in which Amazon has a private brand, 17% of the time Alexa recommends the private-label product first even though such products make up just 2% of volume sold.” Read more (subs.)
Stitch Fix CEO Katrina Lake Talks Data, Amazon—and Hot Tubs by Nicole Laporte at Fast Company. “If you were the CEO of Macy’s, it’s kind of a pain to go work in a store and clock in and work a register and learn how to do that. You’d spend a whole day there. It’s amazing that I can do a little slice of that every single day. For me it’s valuable because I can see who our clients are.” Q&A
Krebs: USPS Finally Starts Notifying You by Mail If Someone is Scanning Your Snail Mail Online Read more
CHICAGO – Macy’s to sell top floors of State Street store for $30 million by Lauren Zumbach at Chicago Tribune. “Toronto-based Brookfield Asset Management signed an agreement to buy floors 8 through 14 from Macy’s, the retailer said Tuesday.” Read more (tiered subs.)
Supervalu promotes Rob Woseth as permanent chief financial officer Press release
AiFi emerges from stealth with its own take on cashier-free retail, similar to Amazon Go by Sarah Perez at TechCrunch. “But unlike Amazon Go, AiFi claims its A.I., sensor and camera network-based system can scale from a small mom-and-pop all the way up to a big retailer with tens of thousands of square feet and a hundred thousand products.” Read more
HBC’s Dutch stores too pricey for many consumers: report via Toronto Star. Read more
BEST STATES Ranking: Iowa #1, Minnesota #2…at Newsweek. Read more
Online mattress start-up Casper just opened its first store. You might want to move in at CNBC. Pics/Read more
Tipsheet Extra Stories
Gap Wins Widespread Praise for Breastfeeding Ad That’s an Instant Classic
Costco is launching its own version of Nutella
Christ Hospital lands major surgery deal with Kroger
Starbucks has 45 stores inside shipping containers
Warren Buffett reveals more details about healthcare venture with Amazon & JPMorgan
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