Tipsheet: Target’s New Mini-Accelerator | W.Foods Shutters 9 | CVS -0.7% | Nations Biggest Ikea Opens
Target launches new mini-accelerator for health-related start-ups by Kavita Kumar at Star Tribune. “Target is accepting applications through the end of February. It will select 10 early-stage companies and will fly them in to Minneapolis for a week in May when Target leaders will teach them the ins and outs of retail.” Read more
1,000-plus people show up to see the nation’s biggest Ikea store open by Samantha Masunaga & Shan Li at LA Times. “The new Ikea sprawls out across a 22-acre lot with 1,700 parking spots. The 456,000-square-foot store is less than a mile from the old store…The new store has a play area and ball pit for children, as well as activity kiosks throughout the warehouse. The chain’s in-store restaurant, known for its Swedish meatballs and lingonberry sauce, seats 600.” Read more
Amazon rolls out free smart-home consultations by Angel Gonzalez at Seattle Times. “The service is now available in Seattle, Portland, San Francisco, San Diego, Los Angeles, Orange County and San Jose, Calif.” Read more
Whole Foods makes ‘difficult but prudent’ call to close 9 stores, moderate growth by Jeff Daniels at CNBC. “…as it abandons its goal to open 1,200-plus stores…Mackey added the retailer remains “optimistic about the future growth potential for our 365 format but we want to see how this next round of stores perform before getting more aggressive.” Read more
CVS Q4 comp sales -0.7%, front-store -2.9% at Fox Business. “CVS Health Corp reported better-than-expected quarterly profit on Thursday, helped by strength in its PBM business.” Read more
These retailers are still way behind the curve when it comes to online sales by Krystina Gustafson at CNBC. “Despite recording a 13 percent jump last year, online still accounts for just 8 percent of the total luxury market’s revenue, according to the latest report by Bain & Company. That’s less than half the penetration of the broader apparel and accessories categories, according to eMarketer.” Read more
Peloton hires former Barnes & Noble CEO to take home-cycling platform global by Diana Olick at CNBC. “There is no vision too wide, no possibility too grand to Foley, who in barely five years has taken one product — a stationary bicycle with an interactive computer screen that streams live classes from one Manhattan studio — and turned it into a $200 million company at the nexus of fitness, technology and media.” Read more
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Arkansas Senate approves contentious grocery store wine bill, now moves to House by Wesley Brown at Talk Business. “Currently, grocery store chains operating in Arkansas, such as Walmart U.S., Kroger’s, Edwards Food Giant and Brookshire’s, can only sell Arkansas and other small farm wines that produce less than 250,000 gallons of vinous product year.” Read more
Rotisserie chicken fumes from grocery store wafting into apartments above by Stephen Rex Brown at Daily News. “(T)his week the dry cleaner complained that several of their customers are returning their clothes, claiming that it smells like BBQ chicken and (the dry cleaner is) quite upset. Residents have complained of nausea brought on by the Oder (SIC) of chicken 12 hours a day,” a co-op member says in the lawsuit.” Read more
Trump attacks Nordstrom over daughter’s clothing line by Jonathan Easley at The Hill. Read more
…Belk to keep Ivanka Trump line at flagship stores, but not website by Katherine Peralta at Charlotte Observer. Read more
Alibaba Alleges False Accusations Over Fake Goods by Kathy Chu at Wall Street Journal. “Alibaba said it would no longer process claims filed by Hangzhou Wangwei, which it said had withdrawn more than 60% of the complaints it had made since 2015 after sellers appealed.” Read more (subscription)
Pinterest is making it easier to click and buy the stuff you see by Kurt Wagner at Recode. “It’s roughly the same feature Instagram started testing with a small group of retailers back in November. It’s not a new feature in general — retailers have offered similar features on their own websites for years — but it’s obviously new to Pinterest.” Read more
The 50 Best Workplaces for Giving Back (Patagonia, Etsy) at Fortune. Top 50 list
Amazon And Google May Face Antitrust Scrutiny Under Trump by Sally Hubbard at Forbes. “Like Khan, Olivia LaVecchia and Stacy Mitchell of The Institute For Local Self-Reliance (ILSR) urge “a hard look at Amazon’s growing stranglehold on commerce and the consequences of that power.” Their exhaustive report, How Amazon’s Tightening Grip on the Economy Is Stifling Competition, Eroding Jobs, and Threatening Communities, likens Amazon to the 19th century railroad baron.” Read more
NRF: Online sales in 2017 will grow three times faster than the retail industry by Matt Linder at Internet Retailer. Read more
There’s now a Disney Princess toy subscription service by Sarah Perez at TechCrunch. “The box itself is $24.99, which comes in well under what it would cost to buy the items separately at retail, which could be another draw.” Read more
Tipsheet Extra Stories
Renovation trucks pictured outside Jeff Bezos’ new $23M house in DC
Thief robs Girl Scout selling cookies
Garth Brooks, Kenny Rogers, more sing for Randy Travis
Breitbart gets to keep using Shopify to sell its merchandise
Domino’s Now Offers a Pizza-Themed Wedding Registry
Hour plus line at Snapchat Spectacles vending machine in Seattle
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