Tipsheet: Lowe’s Injects Millions into Masters | G.Sachs Retail Conference | Pics: Biggest Kroger, Aldi’s New Prototype
Lowe’s and Woolworths inject another $90m into hardware chain Masters by Sue Mitchell at Financial Review. “Documents lodged with the Australian Securities and Investments Commission this week show that the Hydrox Holdings joint venture issued 90 million new shares at $1 each – 60 million to Woolworths and 30 million to Lowe’s – on August 28, the same day that Woolworths revealed that losses from home improvement jumped 33 per cent to $224.7 million in 2015.” Read more
J.C. Penney gives a boost to its private brands by Maria Halkias at Dallas Morning News. “Penney CEO Marvin Ellison talked about private-label brands during a Goldman Sachs conference Wednesday in New York. Ellison said he would like to see private brands occupy “north of 50 percent” of the store…”I have no desire to displace our national brands, but we can create private brands to increase our online penetration”Ellison said he was wearing Strahan apparel at the conference.” Read more
…J.C.Penney Presents at Goldman Sachs Retail Conference Webcast
Take a tour of nation’s largest Kroger opening soon in Cincinnati by Erin Caproni at Cincinnati Business Courier. See the 22 pics / Read more
HD Supply Doubles Profit via Nasdaq. “Overall sales grew 6.7%, paced by a 6.9% rise to $733 million in facilities maintenance revenue. In the company’s waterworks business, sales rose 5.6% to $702 million while revenue in the white cap segment rose 10.8% to $42 million.” Read more
Yesterday: Lowe’s Presents at Goldman Sachs Retail Conference Webcast
Yesterday: Dick’s Presents at Goldman Sachs Retail Conference PowerPoint
Today: Home Depot Presents at Goldman Sachs Retail Conference at 8:05 a.m. ET Webcast
Dick’s Opening 2nd and 3rd All-American Sports Centers “The All-American Sports Center features a DICK’S Sporting Goods and a Field & Stream store in one location under the same roof.” #2 in Polaris, OH #3 in Columbus, OH
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Dollar General to build $75M distribution center in Janesville, WI by Sean Ryan at Milwaukee Business Journal. “The Midwest distribution center would be Dollar General’s 14th in the country…“With 122 stores in Wisconsin and more than 900 employees, Janesville offers an ideal location to service the growing needs of our business in the Upper Midwest,” said Todd Vasos, chief executive officer, Dollar General.” Read more
Amazon India opens seven new fulfilment centres to help sellers stock products via Economic Times. Read more
Aldi’s Newest Prototype in Pictures by Jon Springer at Supermarket News. See the 18 pics
Lululemon boosts profit forecast as quarterly revenue rises via Globe & Mail. “The company’s total comparable store sales rose 11 per cent on a constant dollar basis in the second quarter.” Read more
Staples-Office Depot deal could be in trouble by Taryn Luna at Boston Globe. “To cure the anticompetitive threats, you’d have to divest operations to create a national competitor,” said Randy Stutz, associate general counsel at the American Antitrust Institute in Washington. “You’re talking about giving up extremely valuable assets and huge numbers that almost make the deal not worthwhile at that point.” Read more
Tipsheet Extra
Kmart beefs up layaway scheme eyeing early holiday demand
Fortune: The siege of Herbalife
Nordstrom’s new N.Y.C. home, the Central Park Tower, loses its spire
No 99 Wayne Gretzky Collection Now Exclusively Available at Sears Canada
Rihanna’s Fall Sock Collection Released
Eye-on-Retail Tipsheet is created early every weekday morning and read by retail merchants and executives worldwide. We love data, earnings reports, executive presentations and stories off the beaten path that get at what’s really happening in the world of retail. See our website at www.eyeonretail.net