Wednesday Tipsheet: Wmart Cuts 750 in Can. | Costco Snags Hillary | China E-com +52%
“Walmart Cuts 750 Jobs in Canada” by Kim Souza at The City Wire. “The staff reductions represent less than 1% of total market employment and another 1,300 employees were promoted and 200 store managers were added, according to Alex Roberson, spokesman for Wal-Mart Canada.” Read more
“Some Employees Are Furious At Management Payouts In Walmart’s Adchemy Acquisition” by Jim Edwards at Business Insider. “They believe that the selling price for the company was actually $30 to $40 million, and that Adchemy CEO Murthy Nukala and four top executives all got payouts of between $1.5 million and $2 million in the deal. Some former employees have joined a private Facebook group inside which they are discussing potential legal action.” Read more
“Home Depot: 10 Weeks Running as Radio’s #1 Advertiser” at Radio Ink. “The Home Depot cruised into the Memorial Day weekend airing over 72,000 radio commercials, more than doubling the 34,264 aired by second-placed Macy’s. Home Depot’s big-box competitor Lowe’s was third with 32,000.” Read more
“China’s E-commerce Sales Surge 52% in First Four Months of 2014” at SF Gate. “It compares with 12 percent growth in the nation’s total retail sales, the slowest pace in a decade.” Read more
“Costco Snags Hillary Clinton for Book Tour” by Ruby Cramer at BuzzFeed. “Hillary Clinton has added another stop to her upcoming book tour: a two-hour event at a Costco warehouse in Northern Virginia’s Pentagon City. The stop at Costco is scheduled for June 14, from 11 a.m. to 1 p.m., according to the store’s “author signing” webpage. A Clinton spokesman confirmed the event.” Read more
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“Target to offer e-books” by Hadley Malcom at USA Today. “The service will be targeted at women, especially young professionals and moms of the coveted Millennial generation. Target is vague on the details at this point, saying more will be revealed this summer.” Read more
“Christmas already? Retail gambles on consumer mood” by Krystina Gustafson at CNBC. “I think that what we’re seeing early would be that there’s slight optimism for the holiday season, and the order levels are reflecting that,” said Steve Barr, PwC’s U.S. retail and consumer practice leader. “[But] it’s a very long way away and a lot can happen between now and then.” Read more
“Amazon Gets Schooled on Advertising” by Garet Sloan at Ad Age. “Amazon has established ties with advertisers, media holding companies and brands, but marketing is still only a small part of its barely profitable enterprise. (Alibaba made $3.5 billion last year; Amazon made $274 million.) “You can advertise on Amazon right now, but they don’t really push it very hard,” an agency source said. “They’re very proprietary about the platform and data.” Read more
“Home Depot President Craig Menear Sells $1.18 Mil in Stock” at Insider Trading Wire. “U.S. Retail reported a net SELL trade of HD with a net transaction amount of $1,180,452. Net non-zero shares traded: 14916.” Read more
“Walgreen executive joins TreeHouse Foods” at Chicago Tribune. “TreeHouse Foods said Tuesday it has hired Rachel R. Bishop, the former head of retail development at Walgreen, as its new Chief Strategy Officer. Bishop had been with Deerfield-based Walgreen Co. for five years. Prior to that, she was a consultant at McKinsey & Company.” Read more
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