Tipsheet: Target Pulls Hampton Creek | Jet Prez’s Bookie Grandpa | Bed/Bath -2% | F.Line -1.1%
Bed Bath & Beyond Q1 Comp Sales -2.0% “Net sales for the fiscal 2017 first quarter were approximately $2.7 billion, an increase of approximately 0.1% from the prior year quarter.” Press release
Target Begins Removing Hampton Creek’s Products From Stores by Olivia Zaleski at Bloomberg. “The Target spokeswoman said the company received allegations of food safety concerns as well as accusations of manipulation and adulteration of Hampton Creek’s products. She said one concern involved reports of pathogens found in a manufacturing facility used by Hampton Creek. Target also received allegations that Hampton Creek products had tested positive for salmonella and listeria.” Read more
Finish Line Q1 Comp Sales -1.1% “Consolidated net sales were $429.8 million, a decrease of 0.1% over the prior year period. Finish Line Macy’s sales increased 13.6%.” Press release
BOOKIE GRANDPA – Jet’s Liza Landsman, Sam’s Club Tracey Brown share insights, like not working with ‘jerks’ by Kim Souza at Talk Business. “Jet.com President Liza Landsman honed her math and analytical problem solving skills from an early age thanks to a grandfather who was a bookie and spent a lot of time with her at the horse track…Tracey Brown, chief experience officer at Sam’s Club, interviewed Landsman at the (LPGA) event.” Read more
Dollar General Names Jason Reiser as Chief Merchandising Officer “…he served as the chief merchandising officer at Family Dollar from 2013 to 2016. Reiser started his retail career as a pharmacy manager for Walmart. From there, he rose through the ranks to positions of increasing responsibility. He served as vice president, merchandising, health and family care for Sam’s Club from 2010 to 2013.” Press release
Lenders ask judge to hit J.Crew with restraining order by Josh Kosman and Julia Marsh at NY Post. “Just when J.Crew thought it had fixed its debt mess, a group of creditors is raising a fresh ruckus in court over the retailer’s unusual deal to fix its balance sheet…They allege J.Crew reported numbers for the period ended July 30, 2016 that were not based on “factually supportable” assumptions and therefore defaulted on its loan agreement, court papers said.” Read more
In its 100th year, Omaha Steaks works to stay relevant by Barbara Soderlin at Omaha World-Herald. “Asked if Blue Apron-style meal kits may be on the way, Simon said, “I can’t tell you all about it, but you’ll be seeing some new meal stuff coming from us later this year.” Read more
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Kroger executive refuses to believe everyone will get their groceries delivered by Steve Watkins at Cincinnati Business Courier. “Mike Schlotman: ‘I mean, humans are social animals and we thrive on interaction with one another. The good news is food is one of the things that’s at the center of social interaction today.'” Read more
Wal-Mart could enter a bidding war with Amazon over Whole Foods, JPMorgan says by Tae Kim at CNBC. “The analysts said if Wal-Mart does bid for Whole Foods it is unlikely to win…”We don’t believe a serious bid comes out of Bentonville that wouldn’t be countered,” the report said.” Read more
…Kroger CEO mum on Whole Foods counter bid by Alexander Coolidge at Cincinnati Enquirer. Read more
SHRINK – Retailers losing big bucks due to theft, inventory shrink, says NRF by Matthew Kazin at Fox Business. “…inventory shrink grew to $48.9 billion in 2016 from $45.2 billion the year prior…Nearly half (48.8 percent) of retailers surveyed said they saw an increase in inventory shrink…Shoplifting accounted for the most losses, averaging $798.48 per incident, up $377 from 2015.” Read more
Amazon aims to charge $2.8 million for NFL ad packages via CNBC. Read more
WPP’s Martin Sorrell Says Whole Foods Deal Could Up Amazon’s Ad Game by Jack Marshall at Wall Street Journal. “Amazon still isn’t a big digital ad player — eMarketer predicts it will generate $1.81 billion in ad revenue worldwide this year, for a 0.8% market share. Beyond Amazon, Mr. Sorrell once again expressed concern about the growing power of the online ad “duopoly” of Google and Facebook…The two companies currently control 75% of digital advertising, he estimated.” Read more (subs.)
Sears Opens First Appliances & Mattresses Store Press release
…Sears Canada to cut 2,900 jobs, close 59 stores in restructuring by Francine Kopun at Toronto Star. Read more
Cramer: This market is scared of Amazon, and it’s fighting back at CNBC. “Something’s happening now. Something … no one seems to be noticing, and that’s the characterization seeping in that Amazon, loved by consumers, might end up being viewed as the evil empire,” Cramer said.” Read more
Krebs: Why So Many Top Hackers Hail from Russia Read more
IKEA Is Investigating Reports of a Shiny Serving Bowl Setting Stuff on Fire by Jennifer Calfas at Fortune. “The man, Richard Walter, posted a video on Facebook of a piece of paper smoking after he set it over his bowl.” Pic/Video/Read more
Tipsheet Extra Stories
There Could Be Ketamine in Your ‘Natural’ Chicken
JC Penney and Dillard’s are about to be kicked out of this big index
Couple find the largest ever intact Native American canoe measuring 33 feet and dating back 1,000 years
Key NFL exec explains Amazon’s football streaming deal
Woman suing Wal-Mart after maggot-filled Almond Joy leads to injury
Gwyneth Paltrow’s Goop under fire after sharing phony information
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