Tipsheet: Speaker Ryan @ H.Depot | Target +3.6% | Mega Costco DC Australia
Target Q4 Comp Sales +3.6% “Traffic grew 3.2 percent in the fourth quarter…comp digital channel sales increased 29 percent contributing 1.8 percentage points of comparable growth…healthy comp sales growth across all five of its core merchandise categories.” Press release
…Target shares drop on profit miss, wage hikes offset sales gains at CNBC. “Actual vs. expected: Adjusted earnings per share: $1.37 vs. $1.38 expected. Revenue: $22.8 billion vs. $22.5 billion. Same-store sales: 3.6 percent growth vs. an increase of 3.1 percent.” Read more
U.S. clothing, cosmetics on possible EU retaliation list at Reuters. “(The EU) has drawn up a list of 2.8 billion euros ($3.46 billion) worth of U.S. products on which it could apply a 25% tariff. Commission President Jean-Claude Juncker said on Friday those products included Harley Davidson motorcycles, bourbon and Levi jeans.” Read more
Trump administration backs states’ bid to collect online sales taxes at CNBC. Read more
Amazon is bringing free Whole Foods delivery to Prime members in San Francisco and Atlanta by Jason Del Rey at Recode. Read more
GameStop announces death of former CEO Paul Raines by Korri Kezar at Dallas Business Journal. “Raines resigned from the Grapevine retailer’s top role in November due to “a reoccurrence of his previously disclosed medical issue.” Read more
House Speaker Paul Ryan to visit Home Depot’s Atlanta HQ this Thursday by David Allison at Atlanta Business Chronicle. “During his visit, Ryan will observe a product demo, participate in an employee town hall, and hold a press conference, according to a statement from his office.” Read more
CVS readies $44 Billion bond sale – Largest corporate bond sale in more than two years will help it pay for $69 billion acquisition of Aetna by Matt Wirz at Wall Street Journal. Read more (subs.) | Bloomberg article
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Nordstrom’s Spurned $50-a-Share Bid Sends Family Scrambling by Lindsey Rupp at Bloomberg. Read more
Lowe’s scores a 104% higher conversion rate when customers interact with 3-D objects in its app compared to those who didn’t by Ann-Marie Alcantara at Adweek. Read more
As of March 2, 2018, Rite Aid has transferred 1,651 stores and related assets to Walgreens…Walgreens will purchase a total of 1,932 stores Press release
Toronto home sales plummet 35% as new mortgage rules bite by Naomi Powell at Financial Post. “Prices tumbled too, down more than 12% from a year ago.” Read more (Tiered subs.)
Tower Records Founder Russ Solomon Dies at 92 at Variety. “The deep impact of Solomon’s vision on music retailing was captured in the elegiac 2015 documentary “All Things Must Pass,” produced by Colin Hanks, which featured Solomon and other Tower execs.” Read more
Rare peak inside Mars Inc’s McClean headquarters by Robert J. Terry at Washington Business Journal. 20 pics/Read more
Chico’s Makes NAFE’s Top 10 List of Best Companies for Executive Women by Lisa Lockwood at WWD. “In addition to Chico’s, the NAFE Top 10 Companies for 2018 are L’Oréal, Procter & Gamble, Accenture, Deloitte, Ernst & Young LLP, FleishmanHillard, IBM, JLL and Marriott International.” Read more
New Costco warehouse to bring 1000 jobs to Western Sydney by Laura Tunstall at News 9. “Costco will open its 10th store in Australia this year, but the new distribution centre will have the capacity to supply 30 stores. It will also service the company’s new online store, which is expected to be up and running next year.” Video/Read more
Sears Canada shareholder payments to be reviewed via Toronto Star. “Superior Court has appointed a litigation investigator to review $3 billion in payments made to Sears Canada shareholders, while the company’s pension fund had a nearly $300 million shortfall.” Read more
Tipsheet Extra Stories
Ex-Food Network star says delivery apps killing restaurants
6,000 Dogs ‘Work’ at Amazon, Company Reports
Oregon man, 20, sues Dick’s and Walmart for raising the age on rifle sales
Can You Imagine A Supermarket With No Plastic?
MoviePass CEO proudly says app tracks your location before and after movies
Alligator captured wandering Target parking lot
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