Tipsheet: Saks +0.2% | Ive Dishes | UPS Slow | RH +6.0%
Interior head says Patagonia claim about public land “a lie” by Matthew Daly at AP via Denver Post. “I understand fundraising for these special interest groups,” Zinke said. “I think it’s shameful and appalling that they would blatantly lie in order to gain money in their coffers.” Patagonia replaced its usual home page Monday night with a stark message declaring, “The President Stole Your Land.” Read more
Hudson’s Bay Q3 Comp Sales -3.2% “On a constant currency basis, comparable sales at Saks Fifth Avenue grew for the second consecutive quarter, increasing by 0.2%. Comparable sales at Saks Fifth Avenue have been positive on a constant currency basis for three of the last four quarters.” Press release
Home Depot announces $15 billion buyback program via CNBC. “Home Depot set a target to grow annual sales to between $114.7 billion and $119.8 billion by the year ending January 2021.” Read more
…Set out long-term fiscal 2020 financial targets including compounded annual sales growth rate from the end of fiscal 2017 ranging from approximately 4.5 percent to approximately 6.0 percent Press release
Wal-Mart makes changes to Savings Catcher program starting Feb. 1 by Kim Souza at Talk Business. “Wal-Mart said shoppers can let the Savings Catcher rewards accumulate in an eGift card to spend a later date if they so desire. The retailer caps the rewards at $599 per year per customer, and rewards can’t be carried over from year to year.” Read more
Fred’s Q3 Comp Sales -0.8% “We have witnessed a complete turnaround in our tobacco business, significantly enhanced cosmetics and successfully rolled out beer to approximately 150 stores and wine to approximately 50 stores. We have also kicked off a reduced price endcap test, which is showing promising results, and we intend to roll it out to all stores.” Press release
Could Humana be the target of a Walmart takeover? by Grace Schneider at Louisville Courier Journal. “Ana Gupte, a senior analyst at Leerink Partners, jolted investors recently when she mentioned that health insurer Humana may be next as a takeover target by Connecticut-based insurer Cigna – but others in the mix may be Walmart, Walgreens and even another rival in insurance, Anthem.” Read more
American Eagle Q3 Comp Sales +3.0% Press release
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Luxury Brands Win a Crucial Victory in Battle Against Amazon Distribution by David Meyer at Fortune. “(Luxury) brands received cheering news on Wednesday: the Court of Justice of the European Union (CJEU) ruled that luxury brands are perfectly entitled to forbid their distributors from selling through third-party online platforms such as Amazon and eBay.” Read more
RH Q3 Comp Revenue +6.0% Press release
Belk to become exclusive distributor of women’s The Limited clothing line by Katherine Peralta at Charlotte Observer. “Belk said in a statement that The Limited brand recently relaunched online and debuted in 150 Belk stores. The department store said it will launch The Limited in another 74 stores in 2018. Belk also said that The Limited will be managed as one of its private-label brands, apparel lines that for Belk, also include Crown & Ivy and New Directions.” Read more
Best Workplaces In Diversity 2017 (Wegmans #5, Publix #6, QuikTrip #29, Old Navy #73) at Great Place to Work. Top 100 ranked
Ann Taylor owner blames ‘fashion missteps’ for dismal sales by Lisa Fickenscher at NY Post. “A lot of what was the fashion misses were from the team that was already in place,” Muto admitted on Tuesday’s call. “So we own that.” Comp sales at Lane Bryant were down 5 percent in the quarter, and comp sales were 2 percent lower at its tween chain, Justice.” Read more
McLane Company Opens $150 Million Grocery Distribution Center in Findlay, Ohio Press release
UPS, Overwhelmed by Online Orders, Warns of Delivery Delays by Paul Ziobro at Wall Street Journal. “ShipMatrix, a software provider that analyzes shipping data, said 89.2% of parcels shipped last week through UPS Express were delivered on the day they were promised…By comparison, 99.4% of FedEx Express packages were delivered by the end of the day they were scheduled to arrive.” Read more (subs.)
Chicago loses out on Mars Wrigley U.S. candy headquarters; 200 jobs likely headed to N.J. by Jessica Mazzola at NJ.com. Read more
Judge approves Toys R Us bonus plan to spur holiday shopping via CNBC. “Toys R Us won court approval on Tuesday for plan to pay top executives up to $21 million in bonuses by arguing that the money will incentivize them to boost the bankrupt retailer’s sales during the critical year-end shopping season.” Read more
Jony Ive Dishes On Apple Rumors And His Design Team In Rare Interview by Mark Wilson at Fast Company. “Jony Ive helms the most secretive design lab in the world at Apple. But aside from the top secret mystique, the soft spoken Ive is notoriously private, often giving just one interview a year. Last week at the Smithsonian’s Hirshhorn Museum and Sculpture Garden, Fast Company alum Rick Tetzeli performed that interview.” Interview highlights
Tipsheet Extra Stories
Ex-Home Depot CEO Nardelli discusses “instant gratification” on CNBC
Trump’s FTC moves to block another merger
Drinking $1,400, 42-year-old Scotch in a Costco Storeroom
Retailers Can Forget About Being Bought by Steinhoff Now
Men’s online suit maven Indochino doubles down on showrooms
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