Tipsheet: Target Cuts 275 @ HQ/India | Albertsons Sued for $1 Bil | Nike’s $185 Hoodie
Target lays off 235 in Twin Cities tech operations, 40 in India by Kavita Kumar at Star Tribune. “In addition to the new job cuts, Target said Tuesday it will close about 35 open positions at its corporate offices in Minneapolis and Brooklyn Park…One area still on the chopping block is some of Target’s corporate workforce involved in its pharmacy business…The layoffs — amounting to 2,735 jobs this year, or about one-fifth of its corporate staff.” Read more
Washington Post: A case that Costco and other warehouse clubs have transformed retail more than Amazon by Sarah Halzack. “The four largest warehouse clubs accounted for 8 percent of retail sales in 2012, nearly 50 percent more than all e-commerce retail sales in that year. And while the rise of online shopping has dominated the discussion of the retail landscape, Hortacsu and Syverson found it actually hasn’t been the sector’s biggest growth story over the last roughly two decades.” Read more
No need to panic: Amazon isn’t slashing the number of Prime-eligible products available by Tricia Duryee at GeekWire. ““These are blatant mischaracterizations of a program that is excellent for both businesses and Prime members,” Amazon’s Julie Law said in a statement sent via email.” Read more
St. Paul liquor store might torpedo Target plans by Frederick Melo at Pioneer Press. “Target’s plans for a St. Paul liquor store at the SuperTarget off University Avenue will go before the city council Wednesday, but not without some pushback. Its biggest opposition? Another liquor store…Outside of downtown St. Paul, city ordinances require a half-mile of separation between liquor stores. Depending upon where you start and stop your tape measure, the proposed SuperTarget location falls inside that boundary.” Read more
The Fresh Market Names Richard Anicetti as President and Chief Executive Officer “Mr. Anicetti joins The Fresh Market with more than 30 years of experience across all key retail functions at Hannaford Brothers Company and Food Lion LLC.” Read the release
Happening Today: Home Depot’s Carol Tome to speak at Women of Prosperity Luncheon via The Coweta Shopper. “The luncheon, sponsored by LifePlan Financial Advisors, Inc., begins at 11:45 a.m., and admission is $35 for Chamber members and guests, $50 for general admission.” Read more
Documenting Canada’s abandoned Target stores by Jack Choros at Daily Brew. “Now, a Tumblr called “Abandoned Targets of Canada” is chronicling the chain’s slow, sad decay.” See the pics / Read more
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Kroger names new top communications exec by Steve Watkins at Cincinnati Business Courier. “Jessica Adelman has been senior vice president of corporate affairs for Syngenta North America, a maker of chemicals and seeds for agricultural use.” Read more
Amazon’s crazy new crystal dome headquarters is under construction — here’s what it will look like when it’s finished by Nathan McAlone & Alyson Shontell at Business Insider. See the now & then pics
Costco Insurer: Yokohama Owes $4M For Crash Settlement by Bonnie Eslinger at Law 360. “Tuesday’s hearing stems from a tangle of litigation resulting from a 2001 rollover crash in Arizona that left the driver, 58-year-old Jack Daer, a quadriplegic. Daer sued Costco in state and federal court.” Read more (Subscription)
Haggen sues Albertsons for $1 billion, claims larger chain sabotaged deal by Ashley Stewart at Puget Sound Business Journal. “The lawsuit claims Albertsons deceived Haggen into purchasing stores in order for the larger chain to win federal regulatory approval for a merger withSafeway…Haggen also claims Albertsons deliberately understocked stores ahead of the transition so customers would be dissatisfied and shop at nearby Albertsons and Safeway stores.” Read more
H-E-B Partners With Instacart for Grocery Delivery Service Read the release
Nike Wants to Win Winter With a $185 Hoodie by Kyle Stock at Bloomberg. “On a muggy, 87-degree morning in Midtown Manhattan, dozens of journalists and sneakerheads were packed into a dark, 30-degree warehouse…This little scene—a Hunger Games-styled publicity pitch—is what happens when Nike wants to show off new gear. On Tuesday, it was winter clothes: specifically, a men’s hoodie and a vest and running shirt for women.” Read more
Tipsheet Extra
Michaels CEO Interview – How Pinterest is Boosting Sales
Target Canada spars with creditors over debt claims
Polaris expands partnership with Costco
Kroger has jobs for 20,000 veterans
Man who spit on transgender woman at Target arrested
7-Eleven is delivering snacks in these cities
Mexico withholds hundreds of millions in tax refunds owed to Procter & Gamble, Unilever and Colgate
Walmart Museum to Feature Exhibit on Disaster Relief
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