Tipsheet: Kohl’s Q1 Profit -54% | Target CEO on CNBC | Wmart’s Free 2 Day Ship | 1 in 3 Malls ‘Doomed’
TARGET CEO APPEARS ON CNBC – What you’re missing about our inclusive bathroom policy by Matthew J. Belvedere. “Target Chairman and CEO Brian Cornell said Wednesday its bathroom policy fits the retailer’s long history of “embracing diversity and inclusion.” Cornell told CNBC’s “Squawk Box” he wants everyone to feel welcome at his stores but stressed that safety is also very important.” See the video / Read more
COMPARISONS AND OLIVE BRANCHES – Target CEO says Target stands by transgender policy just as it did for blacks in ’60s by Kavita Kumar at Star Tribune. “At the same time, he offered an olive branch to those who have been upset by the policy and said the company will add family restrooms to all of its stores, an option for people who worry about the mixing of sexes in bathrooms.” Read more
Kohl’s Q1 Comp Sales -3.9% “Kevin Mansell, Kohl’s chairman, chief executive officer and president, said, “First quarter sales were challenging.” Read the release
…Kohl’s Profit Falls 54% in Q1 via Nasdaq. “The company said its profit declined to $58 million, or $0.31 per share. This was down from $127 million, or $0.63 per share, in last year’s first quarter. Analysts had expected the company to earn $0.37 per share.” Read more
CNBC: Macy’s results reminiscent of financial crisis by Krystina Gustafson. “Macy’s dismal first-quarter results are bringing back unwelcome memories of the financial crisis, as the retailer on Wednesday reported two metrics that harken back to that period of economic malaise…” Read more
PUZZLED IN CINCY – Investors question Macy’s strategy in tough earnings call by Andy Brownfield at Cincinnati Business Courier. “I would say that we too are somewhat puzzled by the data that we’re seeing on the consumer and the traffic we’re seeing on the stores and on the site” (CFO Karen Hoguet) said.” Read more
Wal-Mart Bets on Free Two-Day Shipping via Fox Business. “Starting Thursday, ShippingPass members will get free two-day shipping for $49 a year, says a Wal-Mart spokesman. He declined to say how many people have signed up for the service, which is only available by invitation.” Read more
WOOED CARRIERS – Wal-Mart Bets on Free Two-Day Shipping by Laura Stevens & Sarah Nassauer at WSJ. “In February, Wal-Mart invited several regional delivery companies to a conference in Atlanta where it outlined its vision of building a network of regional delivery companies and solicited bids, according to the people familiar with the plans. Wal-Mart wooed the carriers with promises of steady streams of package volume and a strategic partnership, these people said.” Read more (subscription)
**A message from 2016 Sweets & Snacks Expo – The Expo is Sold Out and Less than Two Weeks Away! The 2016 Expo will set an all-time record in volume of confectionery and snack products with more than 720 companies showcasing nearly four acres of product innovation. Don’t miss the one place where more confectionery and snack retailers and manufacturers come together to get inspired, make connections and find new best sellers. Exhibitor List | 2016 New Exhibitors | Retail execs on the taste panel | Website
NY Times: Whole Foods’ Scaled-Down 365 Store Has Robots, but No Tattoo Parlor by Stephanie Strom. “There’s a lot riding on a robot — the teaBot, to be exact — but not for the Canadian start-up behind the machine. Rather, it is 365, the much anticipated new grocery concept from Whole Foods Markets, that is banking on the robotic kiosk and a host of other bells and whistles to reverse the company’s waning fortunes. The first store, here in Silver Lake, a neighborhood in the East Side of Los Angeles, opens in two weeks…” Read more
…Whole Foods’ first 365 store in L.A. is designed to attract new shoppers by Shan Li at LA Times. “On Wednesday, 365 President Jeff Turnas gave a hard-hat tour of the new shop, which was still crawling with construction workers busily installing equipment…The shelves are lower than ones in many Whole Foods stores…”We want 365 to speak to a wider audience,” Turnas said. “We want it to be easier to navigate, not intimidating.” Read more
1 in 3 American malls are doomed: Retail consultant Jan Kniffen by Tom DiChristopher at CNBC. “On an apples-to-apples basis, we have twice as much per-capita retail space as any other place in the world. The U.K. is second. They’re half of what we are. So, yes, we are the most over-stored place in the world,” he told CNBC’s “Squawk Box.” Read more
Sears planning smaller-format appliance stores by Lauren Zumbach at Chicago Tribune. “Chairman and CEO Edward Lampert said the retailer is planning a smaller-format appliance store in Fort Collins, Colo…”We have and we will be trying a lot of things,” Lampert said, adding Sears will “probably” add more of the focused, small-format stores in 2016.” Read more
Theranos’ COO retires as the troubled bio-tech startup overhauls its organizational structure by Catherine Shu at TechCrunch. Read more
Retail Marketers to Lead Digital Ad Spending Through 2020 by Nathalie Tadena at WSJ. “EMarketer projects that retailers in the U.S. will increase spending on paid digital advertising by 15% this year to $15.09 billion, accounting for 22% of digital ad spending in the country. The sector’s investment in mobile advertising is expected to jump 52% in 2016.” Read more (subscription)
Luxury Retailer Pirch Taps Design Celebs to Market Its New York Debut by Adrianne Pasquarelli at Ad Age. “Pirch, the high-end home appliance store known for letting its customers take a shower or heat up some eggs on premises, is opening a flagship in New York and it’s debuting a new campaign to spread the word. The retailer, which will open a 32,000 square-foot showroom in SoHo May 21, has tapped celebrities such as Nate Berkus, Padma Lakshmi, Geoffrey Zakarian and Iris Apfel to market its brand…” Read more
Handmade at Amazon expands – New categories offer more than 20,000 items sold directly from Artisans Read the release
Dallas’ north-south divide on display as city wrestled with giving Costco $3 million by Robert Wilonsky at Dallas Morning News. “Let’s just say it,” said council member Philip Kingston. With $3 million, “we could fund animal services at a level that keeps people from being eaten by dogs.” Read more
Alexa Will Now Track Delivery of Your Amazon Packages by Leena Rao at Fortune. “If you’re expecting packages from Amazon, you simply ask Alexa, through the Echo, when your next package will arrive. Alexa will also tell you who placed the order in your household and when.” Read more
What did Google’s last search results change mean for retailers? by Zak Stambor at Internet Retailer. “Google’s elimination of text ads from the right side of its desktop search results pages meant that consumers were seeing 30% fewer ads, but the change decreased impressions only 10%, Adobe says. The move was slightly more pronounced for retail-related searches, where impressions dipped 15%.” Read more
Pinterest adds former Amazon exec and growth expert Michelle Wilson to its board by Sarah Perez at TechCrunch. “Wilson has a background in global growth and talent acquisition, both of which are key areas of focus for the popular bookmarking service.” Read more
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