Tipsheet: How Sam’s CEO Overcame Death Threats | CVS Pres on Kimmel | B.Buy -0.1% | Wegmans 3rd Largest Open | D.Gen Leaves Nascar
Best Buy Q1 Comp Sales -0.1% “Although we are reporting better-than-expected results today, we are not raising our full year outlook as the first quarter represents less than 15% of full year earnings and at this stage we have no new material information as it relates to product launches throughout the year.” Read the release
Fox Business: Best Buy Forecasts Profit Miss, CFO to Step Down “Best Buy forecast an adjusted profit of 38-42 cents per share for the second quarter. Analysts on average were expecting 50 cents per share, according to Thomson Reuters I/B/E/S.” Read more | CFO step down release
How Roz Brewer Plans To Beat Amazon and Costco by Beth Kowitt at Fortune. “It’s difficult when you are in the baby business in the big mothership,” Brewer said at the Fortune Most Powerful Women “Evening With…” dinner in New York City.” Read more / See the video
…Explains How She Overcame Death Threats “The lesson for me is to continue to use my voice.” See the 3:51 video
…says ‘Good Luck’ to Amazon on Private Label “That might be one of the hardest tasks they’ve ever done.” See the 1:55 video
Tweet from J.C.Penney CEO Marvin Ellison: Proud to speak at BEST Academy HS. JCP gifted each graduate with new suit, shirt & tie. All 45 accepted to college!
**A message from Black Flag® Brand: When the flag flies, pests die. The Black Flag® indoor/outdoor pest arsenal arms homeowners in the battle against invading bugs. Offering quick, decisive formulas that act fast and never back down, Black Flag insect and rodent controls get the job done, and take no prisoners. It’s time to Let It Fly. Check out our videos | Visit us on Facebook
THIRD LARGEST CROWD FOR WEGMANS STORE OPENING – 24,000 turn out for Richmond store debut by Tammie Smith at Richmond Times-Dispatch. “The Chesterfield location is the 89th for the chain…That compares to the estimated 26,000 people who came on opening day at the Alexandria store in June 2015, and 25,500 who came out for the opening of the Wegmans in Northborough, Mass., in October 2011.” Read more
Amazon stops giving refunds when an item’s price drops after you purchase it by Jason Del Rey at Recode. “The move may have something to do with the rise of startups that track prices for Amazon customers and automatically request refunds when appropriate…Earny scours a customer’s email inbox for digital receipts, and then continuously checks the price on a retailer’s website to see if it drops.” Read more
DOLLAR GENERAL SAYS GOODBYE TO NASCAR – Matt Kenseth losing Dollar General as main sponsor by Bob Pockrass at ESPN. “Dollar General had steadily increased its sponsorship of the No. 20 car as previous sponsor Home Depot gradually reduced its spending before ultimately leaving the sport after the 2014 season.” Read more
Abercrombie Taps Target, Victoria’s Secret Veterans as Brand Chiefs via Dow Jones. “(Stacia) Andersen will head up the company’s namesake and abercrombie kids brands. During her 20 years at Target, Ms. Andersen most recently had served as the discount retailer’s vice president of merchandising.” Read more
Supervalu makes $1.5B move toward Save-A-Lot spinoff by Diana Barr at St. Louis Business Journal. Read more
RADIO KING – Home Depot #1 in Radio Ads (again) at Radio Ink. “Home Depot held on to its number one position with 64,344 ads. GEICO was a distant second airing 38,904. Walgreens re-entered the top five, at number four with 26,307.” Read more
Walmart Faces a German Invasion by Shelly Banjo & Andrea Felsted via Bloomberg. “It’s quite a change from just a few years ago, when Asda — Walmart’s last remaining European outpost after its disastrous foray into Germany — was the jewel in its international crown.” Read more
Costco Founder Jim Sinegal Invests Millions in Bay Area Organic Fast Food Chain by Stefanie Tuder at San Francisco Eater. “Sinegal has signed on as the primary investor in The Organic Coup’s first round of funding, which raised $7 million…Costco CFO Richard Galanti has also invested in the restaurant.” Read more
**A message from 2016 Sweets & Snacks Expo – It all starts today! Do more business in three days than you could all year. Find your next best-seller at the New Product Showcase with more new candy and snacks than ever before. Register now | Exhibitors | May 24-26, 2016 McCormick Place – Chicago.
Lands’ End chief marketing officer resigns by Melanie Lawder at Milwaukee Business Journal. Read more
CVS PRESIDENT HELENA FOULKES APPEARS ON JIMMY KIMMEL LIVE – “Customers will have the opportunity to opt-out of receiving paper receipts for all in-store purchases when completing their transactions in the front of the store. Once the one-time process is completed, customers will receive receipts digitally, along with their coupons and rewards, each time they shop at CVS Pharmacy.” Read the release
Cramer: Walgreens should walk away from Rite Aid deal via CNBC. “The government doesn’t seem to like this deal or it would have closed.” Read more
Ikea sees upside from cocooning Canadians as sales growth surges past rivals by Hollie Shaw at Financial Post. “Canadians are not travelling like they have done in the past,” Stefan Sjöstrand, president of Ikea Canada, said in an interview…“When the dollar is weak, they stay home.” Read more
Amazon Announces the Most Well-Read Cities in America (Seattle #1) See the top 20 list
Tipsheet Extra Stories
Thieves tunnel into Best Buy – at least $100K worth of merchandise stolen
D.C. Mayor won’t get a chance to confront Walmart at retail conference
Costco files paperwork asking city to annex land for proposed chicken plant
A clever tweak to how apples are sold is making everyone eat more of them
Neiman Marcus Announces Phone Charging Stations Nationwide
Shoppers Voice Their Opinions About The Amazon ‘Experience’
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