Tuesday Tipsheet: Coke Changes Formula | Lowe’s Replace Target in Can? | Dick’s Opens #604
Home Depot ‘killer’ was mad that victim got promotion over him by Larry Celona, Reuven Fenton & Shawn Cohen at NY Post. “The Home Depot worker who murdered his manager before killing himself was simmering with anger after being dumped by his girlfriend — and being passed over for a promotion by the man he killed, law-enforcement sources told The Post on Monday.” Read more
Top Walmart official says retailer strives to prevent corruption by Thomas Lee at San Francisco Chronicle. “There is no textbook on how to be a chief compliance officer,” (Jay) Jorgensen told a group of students and faculty at a UC Davis law school symposium Friday…“Trust is our most important asset,” Jorgensen said. “We’ve had some problems, and it’s very difficult to regain that trust.” Read more
Coke to change its formula in Canada by Marina Strauss at Globe & Mail. “The company risks losing some customers who may notice a little less syrup concentration, industry watchers said. Coca-Cola will have to focus on avoiding what was a monumental blunder of the U.S.-based parent company in 1985 when it reformulated its top soft drink into New Coke and was forced to bring back its original product, renaming it Classic.” Read more
Dick’s Set to Open 604th Store on Feb. 6th “DICK’S Sporting Goods will be opening its 39th store in California and 604th store nationwide on Friday, February 6th at Coddingtown Mall in Santa Rosa, CA (1975 Cleveland Avenue).” Read the release
Indy: Grocery Wars certain to flare up on north side by John Russell at Indy Star. “Three supermarkets (one Kroger and two Marsh supermarkets) and three specialty grocers (Whole Foods, Trader Joe’s and Fresh Thyme) are battling for the loyalty of thousands of shoppers in neighborhoods along East 82nd and East 86th street… A shakeout could happen in a few years…”And it will probably be dramatic when it happens,” said Joe Lackey, president of the Indiana Grocery and Convenience Store Association. Read more
Why there’s no Costco inside Dallas city limits yet by Maria Halkias at Dallas News. “Don’t expect Costco to wage an expensive fight for land the way its chief rival Wal-Mart owned Sam’s Club will do. (Example: the Cityplace Sam’s Club near downtown moving ahead.) Costco believes it always has the option to wait for a good real estate deal. It will walk away from land that it’s decided costs too much and did just that last month with a site at Coit Road and N. Central Expressway owned by the Texas Department of Transportation.” Read more
Ottawa: Target stores might be ‘dark for a while’ by Doug Hempstead at Ottawa Sun. “From our analysis is it pretty clear that there will not be a white knight,” Doucette said.” Read more
Winnipeg: Big-box chain Lowe’s could replace Targets here by Murray McNeill at Winnpeg Free Press. “Lowe’s already has stores in the other three western provinces and in Ontario, but none in Manitoba. “So Winnipeg is sort of along the way, and they already have the supply chain set up. So it’s not a big stretch, I don’t think, that maybe one of two of those (Winnipeg) properties could go to Lowe’s.” Read more
U.S. retail workers are No. 1…in employee theft by Anne Fisher at Fortune. “Globally, dishonest employees are behind about 28% of inventory losses, while shoplifters account for a markedly higher 39%. Not so stateside, the study says, where employee theft accounts for 43% of lost revenue.” Read more
Walgreens names new CFO by Ellen Jean Hirst at Chicago Tribune. “George Fairweather, formerly the group finance director at Alliance Boots, has been appointed global chief financial officer effective Feb. 20, replacing Tim McLevish.” Read more
NY Times: China’s Other E-Commerce Giant Follows Its Own Path by David Barboza. “While Alibaba’s marketplace serves as a platform to connect buyers and sellers, JD buys goods from manufacturers and distributors and holds the inventory in its own warehouses, in a model that echoes Amazon’s. It then arranges for quick delivery of virtually everything from television sets and refrigerators to socks and T-shirts, using motorbikes that weave in and out of traffic in some of the country’s biggest cities.” Read more
Washington Post: The growth of Wal-Mart may have made America’s obesity epidemic worse by Danielle Paquette. “The density of an area’s Supercenters can significantly affect the obesity rate, according to the study. Opening an additional store per 100,000 residents increased an area’s average body mass index by 0.24 units, or 10.8 percent of the sample obesity rate, the study found. The overall effect: “These estimates imply that the proliferation of Wal-Mart Supercenters explains 10.5 percent of the rise in obesity since the late 1980s.” Read more
Legal pot sales top $2.7 billion nationwide by Molly Armbrister at Denver Business Journal. “Legalized marijuana is the fastest-growing industry in the country with 74 percent market growth from 2013 to 2014, according to a report released Monday.” Read more
Sports Authority names Pep Boys exec to lead marketing by Mark Harden at Denver Business Journal. “Ron Stoupa, a marketing executive with Pep Boys since 2009, has been named executive vice president and chief marketing officer at Sports Authority.” Read more
Nordstrom is shoppers’ favorite fashion retailer by Patti Payne at Puget Sound Business Journal. “It’s the third consecutive year that Nordstrom tops a national consumer study by Market Force, polling 4,300 consumers as to their favorite fashion and shoe retailers…Nordstrom ranked at the top of the list, followed by Kohl’s, T.J. Maxx, Macy’s and Dillard’s.” Read more
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