Today’s Tipsheet: McMillon on CNBC | Lowe’s Quebec Mtg 11/5 | Target Basket + $5.72 | D.Gen Cuts 255
Walmart CEO on CNBC: This is how we’ll win by Tom DiChristopher at CNBC. “We’re making progress and our associates are buying in,” he told CNBC’s “Squawk Box” ahead of the company’s meeting with analysts in New York City…”Ultimately the way we are going to win, which is what we’ll talk about with analysts today, is the strategy of bringing them together.” Read more
Dollar General cuts 255 corporate jobs by Lizzy Alfs at The Tennessean. “Employees have been notified of the job cuts, which are effective immediately. Positions at the store level will not be impacted, according to the release.” Read more | Read the release
Lowe’s to meet Quebec suppliers, raising speculation about store expansion by Ross Marowits at Globe & Mail. “We believe this could be a sign that they are preparing to enter the Quebec market in the near future,” Scotiabank analyst Anthony Zicha wrote…Lowe’s spokeswoman Sandy Indig said the Nov. 5 meeting in Montreal with Quebec suppliers is to understand what products they can offer. The chain is seeking suppliers for a number of products, including doors, lighting and bathroom accessories.” Read more
Target joins UNICEF in new health charity initiative by Kavita Kumar at Star Tribune. “Whenever a customer buys a band, which sells for $39.99, Target will donate $10 to fund therapeutic food packets that will be sent to malnourished children around the world. “We know that one in four kids in the U.S. is inactive and one in four kids globally are malnourished,” said Angie Thompson, a Target spokeswoman.” Read more
Retail Union Spends Six Figures On Walmart Worker Ad Launch During Democratic Debate by Clare O’Connor at Fortune. “The 1.3 million-member United Food and Commercial Workers Union has spent in the region of $200,000 total on two 30-second ad spots.” See the ads / Read more
…Walmart response (via CNN): “While the UFCW is committed to spending its members’ hard earned union dues on political ads attacking a company that employs 1.3 million Americans, Walmart will continue to focus on our commitment to spending $1 billion this year alone to not only raise wages, but also provide additional skills-based training and other opportunities to build great careers” Read more
Target Partners with ‘Who What Wear’ on Street Style-Inspired Line by Chantal Fernandez at Fashionista. “Target’s Who What Wear line will debut in 800 stores, online at Target.com and at WhoWhatWear.com on Feb. 1 and will continue to deliver new product the first week of each month. The collection will feature over 20 categories such as knits, pencil skirts, party and day dresses, jackets, blazers and accessories.” Read more / See the video
…Who What Wear backed by Amazon by Elaine Low at Investor’s Business Daily. “In August, the company said that it had raised $8 million from Amazon and others in a Series B round of funding.” Read more
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Amazon shuts down Destinations hotel booking service six months after launching it by Jordan Novet at VentureBeat. Read more
Wal-Mart grocery savings widen against Target by Kim Souza at The City Wire. “Raymond James & Associates’ monthly grocery comparison report for October found $5.72 in savings realized on a full basket of branded items purchased at Walmart compared to the same items bought at Target. The savings widened from 98 cents saved on the same items purchased in September. However, the basket savings decreased from $8.72 reported in October 2014.” Read more
TaylorMade Looks to Boost Sales at Dick’s with VR by John Gaudiosi at Fortune. “Now golf fans can be on the virtual green with PGA Tour pros Justin Rose and Sergio Garcia…TaylorMade has sent 1,500 PSi-branded Google Cardboard VR viewers to stores across the country like Dick’s Sporting Goods.” Read more
Wal-Mart announces FY 2017 earnings calendar, provides agenda for 22nd Annual Meeting for the Investment Community Read the release
Martha Stewart: I should have bought Kmart by Joseph Pisani at AP via Charlotte Observer. “We thought about buying it, but we didn’t do it, and we should have,” Stewart said in an interview with The Associated Press. “That could have been our store — KMartha!” Read more
Under Armour CFO/CEO Departs Read the release
Dad asks for birthday cake from Costco – but he wasn’t expecting this at Mirror. “But his offspring went one better in the dad joke stakes – by getting him a cake OF Costco, complete with tiny trolleys. The wholesale warehouse-themed cake features the Costco branding, trees outside the doors, and entrance and exit signs.” See the cake pic / Read more
Tipsheet Extra
Target and other Minnesota companies fight to defeat proposals guaranteeing more predictable schedules and paid sick leave
Dale Earnhardt Jr. meets and greets fans at Jacksonville Walmart
PETA calls for investigation after animals die in SC PetSmart store during flooding
Facebook’s Working On A Tool To Help The Blind “See” Images
PA: New Field & Stream store opens this week
NY Times: Where Have All the Tomboys Gone?
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 the website at www.eyeonretail.net