Today’s Tipsheet: H.Depot Presents @ Road Show | CT’s Obamacare Stores | Costco Comps +6%
“Home Depot Presents at Canada Investor Road Show” by Seeking Alpha. “Execs with Home Depot presented at the Canada Investor Road Show on Wednesday with a detailed look at the home improvement market in the U.S. A key point from the talk is how the company sees the financing/credit atmosphere going from “tight” to loosening quickly between now and 2015. FY13 targets of sales growth of ~2.8% and comparable store sales growth of ~4% are also reaffirmed.” See Home Depot’s PowerPoint presentation: https://ir.homedepot.com/phoenix.zhtml?c=63646&p=irol-EventDetails&EventId=4986467
“Costco Comp Sales +6% in June/YTD” “Costco Wholesale Corporation today reported net sales of $9.92 billion for the month of June, the five weeks ended July 7, 2013, an increase of eight percent from $9.16 billion during the similar period last year. For the forty-four weeks ended July 7, 2013, the Company reported net sales of $87.05 billion, an increase of eight percent from $80.46 billion during the similar period last year.” Read more: https://phx.corporate-ir.net/phoenix.zhtml?c=83830&p=irol-newsArticle&ID=1836832&highlight=
“Fast Company and Target Announce Winner of the Co.Labs & Target Retail Accelerator” “Divvy, a digital group shopping concept created by Team Pilot, is the winner of the $75,000 grand prize in the Co.Labs & Target Retail Accelerator. The Co.Labs & Target Retail Accelerator from Fast Company and Target was a unique partnership designed to foster digital innovation in retail by challenging developers to build a new mobile experience for Target. Work is already underway to bring the Divvy concept to life for Target guests.” Read more: https://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsLang=en&newsId=20130710005818&div=-1245645151
“Analyst: Dollar Stores from ‘Blue Skies’ to ‘Partly Cloudy to Cloudy’ ” at WSJ. “Dollar General attempted to expand its sales by deepening its selection of brand-name products, but the product-expansion strategy backfired. Too many shoppers bypassed the chain’s private-brand offerings, which carry higher profit margins, for bigger-name products like allergy medication Claritin…Dollar General is now reversing course and going back to its tried and true formula of offering a narrower, highly curated assortment of cheap stuff.” Read more: https://online.wsj.com/article/SB10001424127887324694904578598170782584066.html?mod=pls_whats_news_us_business_f
“Connecticut to Launch Retail Stores in Support of Obamacare” by Sarah Kliff at Washington Post. “Connecticut plans to launch retail stores across the state where consumers can get in-person assistance with signing up for health insurance coverage. At the end of June, it was the second state to launch a television advertising campaign, following Colorado’s $1.1 million ad buy in May.” Read more: https://www.washingtonpost.com/blogs/wonkblog/wp/2013/07/10/q-what-do-porta-potties-coffee-cups-and-airplanes-have-in-common-a-obamacare/?hpid=z4
“Family Dollar Announces Merchandising Changes” “Family Dollar Stores, Inc. today announced that it has named Jason Reiser to the position of Senior Vice President–Merchandising…The Company also announced today that Paul G. White, Executive Vice President-Chief Merchandising Officer, has left the Company to pursue other interests. While the Company completes a search for a replacement for Mr. White, Michael K. Bloom, President and Chief Operating Officer, will assume executive responsibility for merchandising.” Read more: https://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsLang=en&newsId=20130710005336&div=-1245645151
“Canadian Retailers Love to Email” at Chain Store Age. “Canadian retailers send the most marketing emails (6.45 per week), followed by American retailers (5.62 per week) and U.K. retailers (2.38 per week).” Read more: https://www.chainstoreage.com/article/nordstrom-macy%E2%80%99s-and-saks-top-digital-department-store-study
“Wal-Mart Scraps D.C. Store Plans” by Ann Zimmerman at WSJ. “Wal-Mart Stores Inc. said it was scrapping plans to build three stores in Washington, D.C., after the city’s council passed a bill late Wednesday that would require big retailers to pay starting wages that are 50% higher than the city’s minimum wage…The bill could still be blocked if Mayor Vincent C. Gray vetoes it or if Congress successfully uses its local control to keep the legislation from taking effect.” Read more: https://online.wsj.com/article/SB10001424127887324879504578598303146519568.html?mod=wsj_share_tweet
“Target, other retailers pledge $140 million for worker safety in Bangladesh” by Thomas Lee at Star-Tribune. “At a news conference Wednesday in Washington, D.C., the alliance said retailers, including Target, Wal-Mart, Sears, and J.C. Penney will provide $100 million toward factory repairs and another $42 million in cash over five years for training, education and compliance.” Read more: https://www.startribune.com/business/214903451.html
“Walgreen Raises Dividend by 14.5%” by Jennifer Booton at Fox Business. “Walgreen raised its quarterly dividend by 14.5% to 31.5 cents a share Wednesday, just two weeks after reporting weaker-than-expected third-quarter earnings and sales and pledging to improve front-end traffic at its retail stores.” Read more: https://www.foxbusiness.com/investing/2013/07/10/walgreen-raises-dividend-by-145/#ixzz2YjEcg17U
“Office Depot and OfficeMax Stockholders Approve Merger of Equals” “We are very pleased with this endorsement of our proposed merger with Office Depot by our OfficeMax stockholders,” said Ravi Saligram, President and CEO of OfficeMax. “This is an important and historic milestone in bringing our two great companies together.” Read more: https://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsLang=en&newsId=20130710006074&div=-1245645151
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