Wednesday’s Tipsheet: Breaking: Costco & Fam.Dollar Q4 Earnings | Target’s New Sourcing Standards | Wmart Calls Off India JV

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“Costco September Same-Store Sales Climb 3% but Q4 Profit Up Only 1%” by Jessica Wohl at Reuters.  “Analysts had expected September same-store sales to rise 3.7 percent, according to Thomson Reuters I/B/E/S.  Fourth-quarter net sales rose 1 percent to $31.77 billion.”  Read more

 

“Costco’s Announces Q4/September/52 Week Earnings and Sales”  Read Company Release

 

“Family Dollar Reports Record Sales and Earnings Results”  “Total net sales for the fourth quarter of fiscal 2013 increased 5.8% to $2.5 billion compared with total net sales of $2.4 billion in the fourth quarter of fiscal 2012. Comparable store sales in the quarter were flat…Company opened 500 new stores in FY13 and plans to open 525 new stores in FY14.”  Read more

 

“Family Dollar Q4 Conference Call Today at 10am EST”  Listen to the Webcast

 

“Target Sets Sustainability Standards For Product Sourcing” by Jake Anderson at Twin Cities Business.  “Target’s starting with its vendors that together provide 7,500 products in the household cleaner, personal care, beauty, and baby care categories. Products from those vendors will be assigned a score of between zero and 100 “based on the sustainability of ingredients, ingredient transparency, and overall environmental impact,” Target said. Next year, Target will expand its assessments to include cosmetics products.”  Read more

 

“Wal-Mart and Bharti Enterprises call off India JV – Retail Stores on Hold” at Reuters.  “If Wal-Mart wants to set up its own retail stores in Asia’s third-largest economy, it will need to find another local partner to own 49 percent of the business under foreign investment rules that were eased last year.”  Read more

 

“New Target store shows changing face of Cabrini-Green (Chicago) neighborhood” by Eric Horng at ABC-7 Chicago.  “A brand new store is about to open for business at the former site of a public housing complex known for being a haven for criminal activity. A Target store now occupies the corner of Division and Larrabee, where Cabrini-Green once stood.”  See the video

 

“Target Opens Second CityTarget in San Francisco” by Andrew Ross at SF Gate.  “As for a third CityTarget I’ve been hearing about in San Francisco’s Japantown? “No information to share about a potential new store in that neighborhood,” said a Target spokesman. But “Japantown is a great market for Target and we continue to pursue opportunities to serve guests there.”  Read more

 

“Wal-Mart Stores, Inc. to Webcast 20th Annual Meeting for the Investment Community”  “Wal-Mart will webcast its 20th Annual Meeting for the Investment Community on Tues., Oct. 15 from approximately 7:45 a.m. to 3:30 p.m. CDT. The video webcast will include presentations and question and answer sessions on all three operating segments — Walmart U.S., Walmart International and Sam’s Club — as well Global eCommerce and Walmart leverage. President and CEO Mike Duke will provide an overview of the company’s strategies for next fiscal year.”  Read more

 

“For Shoppers, Next Level of Instant Gratification” by Hilary Stout at NY Times.  “MasterCard plans to announce a partnership with Condé Nast, the publisher of Vogue, Wired, Vanity Fair and other popular magazines, that will allow digital readers to instantly buy items described in an article or showcased in an advertisement by tapping a shopping cart icon on the page. The partnership, called ShopThis, will begin in the November tablet edition of Wired, due on Oct. 15.”  Read more

 

“Sears Cashes Out of Prime Stores” by Suzanne Kapner at WSJ.  “The discounter has sold nearly a dozen profitable Sears stores in the U.S. and Canada over the past 18 months…That is a small number for a company that operates 2,000 Sears and Kmart stores in the U.S. and 148 Sears stores in Canada. Still, it is an indication the company is faced with tough choices between succeeding as a retailer and unlocking the value in its property.”  Read more

 

“Amazon pushes ‘login and pay’ option for Web retailers” by Donna Tam at CNET.  “Amazon wants other online retail sites to add its “login and pay” feature, further tying merchants to its payments system.  The company introduced the new integration Tuesday, saying it “streamlines” a merchant’s payment process and boosts other sites’ customer base with its own.”  Read more

 

“At his first P&G meeting back, Lafley talks dividend, breakfast and Russian ads” by Barrett Brunsman.  “The biggest reaction from shareholders gathered in the Procter & Gamble Hall came in response to a woman’s question about whether P&G couldn’t afford to provide “any goodies” for breakfast at the event because the board had granted Lafley a $200,000 housing allowance. Laughter and applause erupted from many of the 636 people present.  “Touché” Lafley responded.”  Read more

 

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Tuesday’s Tipsheet: H.Depot’s Innovation Awards | High Earners Like Dollar Stores

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“Two-Thirds of $150K+ Households Shop at Dollar Stores”  “Dollar stores are popping up all over the US, but it’s not just discount shoppers taking advantage of these discount prices. According to new research from Mintel, just under one-third (32%) of respondents from the highest-income households ($150k+) claim not to shop at dollar stores, and half (50%) in this income group say that they are shopping at dollar stores the same amount this year compared to last year.”  Read more

 

“The Home Depot Presents 2013 Innovation Awards”  “Home Depot today announced that Cree won the retailer’s 2013 Innovation Award for its LED light bulb. The annual award recognizes the most revolutionary new products that provide true benefits to consumers and the companies that exceeded expectations in sales, service and program execution. Mohawk Soft Spring Carpet received first runner-up honors for Soft Spring Carpet, and Plantation Patterns Patio won second runner-up honors for its Create Your Own Collection patio furniture.”  See the Top Ten Winners

 

“How Angry Walmart Workers Helped Convince Foreign Investors To Dump Shares” by Clare O’ Connor at Forbes.  “When Sweden’s largest state-backed pension funds divested their holdings in Walmart last week, it was a move six years in the making — and one that followed lobbying efforts by Walmart’s own workers.”  Read more

 

“Groceries Are Cleaning Up in Store-Brand Aisles” by Stephanie Strom at NY  Times.  “Over the last three years, sales of store brands grew 18.2 percent, accounting for $111 billion in sales, according to Nielsen. That is more than twice the rate of growth for national brands — 7.9 percent to $529 billion — over the same period.”  Read more

 

“Best Buy and Ace Hardware Weigh-In on Dynamic Pricing” by Andrew Nusca at ZD Net.  “Within the last two years, Ace has been working to implement a pricing demand system with IBM. Because the company is not competing to be the lowest-priced retailer around, and emphasizes relationships above all, Ace is focusing on the rules aspect more than any other, Voelker said.  “The usual optimization is to use math and science to maximize profit,” he said. “With our model, I have 3,500 bosses—the independent store owners. They all have final say and control for the final prices in our stores.”  Read more

 

“CEOs from Home Depot & Whole Foods to Speak at Austin Summit” by Jan Buchholz at Austin Business Journal.  “The Conscious Capitalism CEO Summit is designed for CEOs who conduct their business in a different way from the norm, to meet and share with peers in an intimate setting,” Rauch said.  The program begins Tuesday morning and ends at noon Oct. 10. About 200 CEOs are expected, each paying about $4,000 each to attend.”  Read more

 

“Aldi supermarket tycoons top German rich list” at ABC News.  “At the top of the list…Aldi co-founder Karl Albrecht, who is 93 and lives out of the public eye, had an estimated fortune of 17.8 billion euros, making him “the longest reigning richest person of any country”, said the magazine.  Forbes magazine’s rich list puts him at number 18 worldwide.  At second place…with 16 billion euros were the families of Theo Albrecht Jnr and his late brother Berthold, co-owners of the separate company Aldi Nord, which also owns Trader Joe’s in the United States.”  Read more

 

“Walgreens rolls out financial services card in 3 markets” at Chicago Tribune.  “The prepaid MasterCard, which can be reloaded at any of more than 8,100 Walgreens or Duane Reade stores, offers an alternative to cash for those with limited access to traditional checking accounts or credit cards. It also will allow no-fee ATM withdrawals and check-cashing services.”  Read more

 

“Donning Disguises with the CEO of Texas Roadhouse” by Ryan Bradley at CNN Money.  “The CEO likes to take a dirty old T-shirt with him on the road. He also carries false teeth and a sweat-stained hunting hat, and lots of cash. He tips well, even though, when he’s wearing the shirt and the hat and the hillbilly dentures, he’s been asked if he can afford the restaurant he’s sitting in — which is usually one of his own.”  Read more

 

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Monday’s Tipsheet: Wmart CMO Speaks | Pirate Joe’s Victory | D. General Opens #11,000

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“Walmart’s CMO: Chief Marketing Officers should be Chief Innovation Officers” by Jack Neff at Ad Age.  “Walmart allocates marketing staff on a 70-20-10 ratio, with 70% working on “Now,” or the things that drive the giant retailer’s business today; 20% focusing on what’s “New,” such as a Facebook following of 34 million; and 10% focused on what’s “Next.”  It’s not always easy, Mr. Quinn said, to protect the “next” from the “now.”  Read more

 

“Dollar General Opens 11,000th Store”  “Dollar General Corporation today opened its 11,000th store, further distinguishing itself as the retailer with the most stores in the United States. The company hosted a community celebration this morning to mark the grand opening of the 11,000th store, which is located in Murfreesboro, Tenn.”  Read more

 

“Trader Joe’s Loses Fight Against Pirate Joe’s” by Keven Drews at The Vancouver Sun.  “Judge Marsha Pechman dismissed the suit against a Vancouver man who buys products at Trader Joe’s stores south of the border and resells them in his brazenly-named shop in Vancouver’s Kitsilano neighbourhood.  In keel-hauling the action, Pechman also ruled there was no basis to apply a U.S. law known as the Lanham Act, which confers broad jurisdictional powers upon U.S. courts.”  Read more

 

“Wal-Mart to Buy More Goods from Inside U.S.” by James Hagerty at WSJ.  “On Monday, it will announce that Redman & Associates LLC will open a plant in Rogers, Ark., next year to make battery-powered toy cars. The cars, large enough for children to drive, currently are imported from China. Another Arkansas-based company, Hanna’s Candle Co., says it has doubled its workforce to about 200 people, including temporary workers, in the past year because of an increase in sales to Wal-Mart.”  Read more

 

“Walmart is Considering Acquisitions in China” by Laurie Burkitt at WSJ.  “A year ago in China, I wasn’t happy with where we were, but I feel different now,” he said. Nearly three dozen employees were arrested or detained in Chongqing in late 2011 over alleged mislabeling of ordinary pork sold as a more expensive organic variety…Mr. (Scott) Price declined to disclose details about regions or potential companies that Wal-Mart would acquire but said the retailer would consider deals with foreign companies.”  Read more

 

“Ikea Sends Its New Flatpack Refugee Shelter to Syria” by Caroline Winter at Bloomberg.  “Ikea, known for its affordable flatpack furniture, is moving into new territory: refugee housing.  The Swedish retailer has teamed up with the United Nations’ refugee agency (UNHCR) to develop a flatpack shelter that can be quickly assembled on site. Recently 50 prototypes, all packed into standard Ikea cardboard boxes, were shipped to refugee camps and crisis regions in Syria.”  Read more

 

“Retail plans with Bharti Enterprises ‘not tenable’: Walmart Asia head” at Economic Times  “Scott Price, the Asia head for Walmart Stores, has said that it is “not tenable” to convert the current franchisee agreement with Bharti Retail into a joint venture form. Both companies, Price said, are looking for the best way to move forward on the alliance.”  Read more

 

“Walmart highlights efforts to benefit APEC (Asian Pacific Economic Cooperation) economies”  “Priority 1: Women’s Economic Empowerment – Since launching its Women’s Economic Empowerment initiative in 2011, Walmart has embarked on a multi-pronged approach to help women advance economically worldwide. Across APEC economies, Walmart has supported nearly 75,000 women to gain job skills and other training in the US, Mexico, China, Chile and Brazil.”  Read more

 

“5 Things Super Successful People Do Before 8 AM” by Jennifer Cohen at Forbes.  “5. Make Your Day Top Heavy. We all have that one item on our to do list that we dread. It looms over you all day (or week) until you finally suck it up and do it after much procrastination. Here’s an easy tip to save yourself the stress – do that least desirable task on your list first.”  See the list

Friday’s Tipsheet: Lowe’s & H.Depot Prep for Trop. Storm Karen | Sam’s Weakness | Rite-Aid & Wgreen Up

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“Lowe’s & Home Depot Prepping for Tropical Storm Karen” at WJHG-Panama City Beach.  “It’s been a long time since a storm has posed a direct threat to our area.  Emergency Management officials are worried people have become complacent and won’t take the Karen seriously.  Workers at Home Depot and Lowe’s on Back Beach Road were busy Thursday night, stocking the shelves with hurricane supplies.”  See the video / Read more

 

“Alabama Home Depot Ready for Karen” by Ashley Knight at WKRG News.  “It’s all hands on deck, moving crucial supplies closer to the front doors so customers won’t have to go far to find what they need. Barry Simpson found what he needed—he’s lived all his life in Mobile and keeps an eye out on the gulf.  “Been following it for a couple of days and we don’t have a generator so we thought maybe it’s time. Hopefully we won’t need it, but if we do, we’ve got it.” says Simpson.”  See the video / Read more

 

“Sam’s Club CEO says seeing some sales weakness from U.S. furlough” at Reuters.  “”What we’re really concerned about right now is what’s happening with the furloughs. We’re actually seeing a little bit of softness from the government layoffs,” Brewer told Reuters as she visited a new Sam’s Club location in Romeoville, Illinois.  “In a few clubs it was significant,” Brewer said of the drop in business, without giving details on the sales impact or the locations of all of the impacted clubs. She said that Sam’s Club initially saw business slow down in the Washington, D.C., and Virginia area.”  Read more

 

“Rite-Aid Same-Store Sales Up 1.9% in September”  “September front-end same store sales decreased 0.5 percent. Pharmacy same store sales, which included an approximate 100 basis points negative impact from new generic introductions, increased 3.1 percent. Prescription count at comparable stores increased 0.9 percent over the prior-year period.”  Read more

 

“Walgreens September Sales Increase 8.0 Percent” at WSJ.  “Total front-end sales increased 4.1 percent compared with the same month in fiscal 2013, while comparable store front-end sales increased 2.9 percent. Customer traffic in comparable stores decreased 0.8 percent while basket size increased 3.7 percent.”  Read more

 

“Wal-Mart, Target Roll Out Smaller Urban Store Formats to Do Battle with Dollar, Drug Store Rivals” by Randyl Drummer at Costar.  “Target has been more deliberate in the national rollout of its smaller-format CityTarget stores. Although only two have opened so far in 2013, for a total of seven, the company sees immense promise in the new smaller format.  The seven stores are located in Los Angeles, Chicago, Seattle and Portland and range from 80,000 to 100,000 square feet.”  Read more

 

“Customers flock to Costco’s grand opening (in SD)” by Janna Farley at Argus Leader.  “Teenage girls take silly selfies like that all the time. Grown women generally do not. But Nunes says they couldn’t help themselves. “That’s just how excited we were.”  Nunes and Anderson, both from Sibley, Iowa, have been eagerly anticipating Costco’s opening day for weeks, having shopped the warehouse store when they both lived in other states.”  Read more

 

“10 ways the retail store is changing” by Patrick Stafford at Smart Company.  ““For those who have bricks and mortar stores, you need to look at the strategic function differently.”  This means things like sales per square foot are less relevant, when the purpose of your store is not meant for inventory but for brand exposure. Again, you need to think of the physical store as just one part of the overall retail experience.  “Those metrics have become antiquated,” Stephens said.”  Read more

 

“Kroger makes a big move in Harris Teeter purchase” by Alexander Coolidge at Cincinnati.com.  “Kroger took a big step Thursday to expanding its reach into Mid-Atlantic and Southeastern states, after Harris Teeter shareholders agreed to let their company be acquired by the nation’s largest supermarket operator.  The $2.5 billion acquisition is expected to close before the end of the year, pending expected regulatory approval.”  Read more

 

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Have a great weekend!

Thursday’s Tipsheet: H.Depot’s CFO @ Univ. of GA | Target 5th “Most Inspiring” Co. | Dick’s wants $1 Bil in E-sales

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“Home Depot’s CFO Carol Tome Speaks at Univ. of Georgia”  Highlights:

*  “Our profits are very different…appliances are very low margin…paint brushes – we make a lot of money on those – I probably shouldn’t tell you that but we do.”

*  “Home Depot has a 35% share of power tools, but online Amazon has a higher share.”

*  “No better time to work with your vendor partners than when you have the #1 market share.”

*  “Home Depot is redefining exclusivity with our vendors”

See the full video

 

“Target Ranked Among 25 “Most Inspiring” U.S. Cos.” by Rebecca Omastiak at Twin Cities Business.  “Target Corporation ranked fifth on a new list of the 25 “most inspiring” U.S. companies.  To compile the list, Performance Inspired, Inc.—an Atlanta-based management consulting and training firm—asked 4,738 consumers which five companies they found most inspirational and to describe their most recent encounter with each company.”  Read more

 

“How Walmart Plans to Double Beer Sales In Three Years” by E.J. Schultz at Ad Age.  “He reiterated the company’s goal of doubling beer sales in the next three years. “I see it as a layup. My team sees it as a big half-court shot. But I’m telling you, it’s there,” he said during his talk, which was interrupted several times by applause from the crowd of nearly 4,000 beer distributors and suppliers attending the event.”  Read more

 

“Dick’s Doubles Down on E-Commerce, a $1B Business by 2017” by Jessica Binns at RIS.  “Dick’s Sporting Goods expects e-commerce to be a $1 billion business for the brand by 2017 and is investing in the technology and processes both to support that growth and establish its Web platforms as a core part of its overall omnichannel strategy.”  Read more

 

“Target follows Walmart with launch of prepaid mobile service” by Steven Musil at CNET.  “Target’s mobile debut comes nearly four years after Walmart launched its no-contract Straight Talk brand in October 2009.”  Read more

 

“Kroger CEO Transition: No Story Here” by George Bradt at Forbes.  “Last week, retail food chain Kroger announced that Rodney McMullen is succeeding David Dillon as CEO, effective January 1. It’s a non-event. This transition has been in the works for years and looks like everything will happen according to plan. There is no news, no big challenges, no surprises and no story.”  Read more

 

“One Statistic Shows How Severely Wal-Mart Is Lagging Behind Amazon” by Ashley Lutz at Business Insider.  “Amazon’s online sales were $US 61 billion last year, while Wal-Mart’s sales were just $ US 7.7 billion, Banjo reports, citing trade publication Internet Retailer.  Even though Wal-Mart expects e-commerce sales to reach $US10 billion this year, Amazon is still dominating market share.”  Read more

 

“Holiday sales are projected to rise 3.9%” by Tiffany Hsu at LA Times.  “Sales in November and December, which include the shopping Super Bowls of Black Friday and the run-up to Christmas, will tick up 3.9% to $602.1 billion, according to the National Retail Federation’s forecast.  Last year, sales rose 3.5%. The average increase over the last decade is 3.3%.”  Read more

 

“Harris Teeter shareholders to vote on Kroger takeover” by Alexander Coolidge at Cincinnati.com.  “Shareholders of North Carolina-based Harris Teeter are slated to vote Thursday on whether to accept Kroger’s $2.5 billion offer to acquire the supermarket chain.” Read more

 

“Beanie Babies creator cries, pleads guilty” by Michael Tarm at AP via SF Gate.  “The billionaire who created Beanie Babies broke down crying in court Wednesday as he pleaded guilty to one count of tax evasion for hiding $25 million in income in secret Swiss bank accounts.  H. Ty Warner, 69, also apologized as he stood before a federal judge in Chicago, removing his designer tortoise-shell glasses and wiping away tears as he struggled to regain his composure.”  Read more

 

“37% of US Consumers Combine In-Store, Online Sources of Information When Shopping”  “According to the new study, US shoppers are most likely to combine online and in-person sources when buying consumer electronics (70%), toys (66%), apparel (58%), and home appliances (57%). At the low end of the omni-channel spectrum in the US are cleaning products (14%), OTC medications (15%), and food and beverages (15%).”  Read more

 

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Wednesday’s Tipsheet: Wgreen Profits Up 86% | Tesco’s Down 23.5% | Smartphones = 44% of Retail Internet Minutes

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“Walgreen’s quarterly profit soars 86 percent” at NY Post.  “Revenue from stores open at least a year climbed 4.6 percent in the quarter. Prescription sales, which accounted for about 64 percent of the company’s revenue, were up 6.1 percent. Revenue from the front end, or rest of the store, rising 1.6 percent.”  Read more

 

“How Walgreen Makes Money From Healthier Shoppers” by Kyle Stock at Businessweek.  “The company now has 85 million people enrolled in its loyalty program, launched about a year ago, and boasts that it is the fastest-growing such initiative in the world.  Walgreen carefully crafted the program to be stingy with the discounts. To get $5 off through Steps With Balance Rewards, a customer would have to walk 500 miles. But on any given day, participants are only allowed to log a maximum of 20 points—the equivalent of a one-mile walk.”  Read more

 

“Twitter Founder Reveals Secret Formula for Getting Rich Online” by Ryan Tate at Wired.  “The bottom line, Williams said, is that the internet is “a giant machine designed to give people what they want.” It’s not a utopia. It’s not magical. It’s simply an engine of convenience. Those who can tune that engine well — who solve basic human problems with greater speed and simplicity than those who came before — will profit immensely.”  Read more

 

“55% of Retail Internet Time Originates on Smartphones & Tablets” by Kim Souza at The City Wire.  “More specifically, smartphone internet usage in June totaled 44% of the retail internet minutes, jumping from the 17% in June 2010. Tablets accounted for 11% of the total minutes on retail sites this past June.”  Read more

 

“The social media manager is dead. Long live social media.” by Ryan Holmes at Fortune.  “Once the exclusive domain of digital gurus, Twitter, Facebook and other tools are gradually becoming everyone’s responsibility. “We are seeing an increased demand for social savvy candidates across the business — from human resources to product to customer service,” Amy Crow, Indeed’s communication director told Quartz.”  Read more

 

“Neiman Marcus To Permanently Offer Free Shipping And Returns For All Purchases”  “Neiman Marcus Group announced today that it would begin offering free standard shipping and returns for all domestic purchases made online through neimanmarcus.com and bergdorfgoodman.com as well as Neiman Marcus and Bergdorf Goodman stores.”  Read more

 

“Target, Lego Emerge As Sought-After Brands This Holiday Season”  “40 percent of Ask.com users will avoid crowds by hitting the stores before Black Friday, traditionally considered the official start of the holiday shopping season…In store vs. online: East Coast shoppers like to be up close and personal, while folks on the West Coast seem to prefer the web for their holiday purchases. Ask.com mobile search data from East Coast locales skewed toward brick and mortar stores and physical addresses, whereas West Coasters more often navigated directly to online retailers.”  Read more

 

“Staples Buys Runa To Square Up To Amazon In The E-Commerce Game For Office Supplies” by Ingrid Lunden at Techcrunch.  “The news follows another development last week, when Staples announced the launch of Staples Connect, in partnership with smart home tech company Zonoff, to help create a hub for consumers to connect products in their home and control them via a single app.”  Read more

 

“Profits plummet 23.5 per cent at Tesco” by Michael Somerville at Retail Gazette.  “The results come as Tesco sold the majority of its US Fresh & Easy business to investment company Yucaipa, and announced a joint venture with leading food retailer China Resource Enterprises. The supermarket will take a 20 per cent stake across 3,000 Chinese stores.”  Read more

 

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Tuesday’s Tipsheet: Amazon #1 Retail Brand | H.Depot & Mobile Gaming | Wmart’s Pledge Request

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“Wal-Mart opens largest online fulfillment center” by Alistair Barr  at USA Today.  “The warehouse, based in Bethlehem, Pa., will be more than 1 million square feet and employ over 350 full-time staff when it opens in the first quarter of 2014. Another new online fulfillment center, based in Fort Worth, Tex., is 800,000 square feet and employs 275 full-time staff. It began shipping orders last week, Wal-Mart said.”  Read more

 

“Home Depot tackles mobile gaming to score sales” by Lauren Johnson at Mobile Commerce Daily.  “The home improvement retailer is launching the app as part of its sponsorship for ESPN’s College Gameday. In addition to the gaming element, Home Depot’s mobile app also links back to the retailer’s Web site to let consumers learn how to build their own version of a cornhole game and shop for products.” Read more

 

“Interbrand Releases 14th Annual Best Global Brands Report:  Amazon #19, IKEA #26”  “For the first time in the history of Interbrand’s Best Global Brands report, there is a new #1 brand: Apple. Interbrand, the world’s leading brand consultancy, publishes Best Global Brands on an annual basis, identifying and examining the top 100 most valuable global brands. With Apple claiming the top position this year, Google jumps to #2 and Coca-Cola, the brand that held the #1 position for 13 consecutive years, moves to #3.”  See the rankings

 

“Wal-Mart asks consumers for ‘Buy American’ pledge” by Kim Souza at The City Wire.  ““We’re going to rebuild that class of American jobs in the middle that made this country great and rebuild that path to a better life,” Simon said during the two-day U.S. Manufacturing Summit held in Orlando last month.  That quote was part of the message sent to consumers on Friday, communicated through a targeted e-mail to those who have ordered on Walmart.com. Consumers who click on the pledge icon in the e-mail are asked to provide their name, e-mail address and zip code. In doing so, Wal-Mart can track those shoppers who have a desire to “Buy American” which provides them future marketing opportunities”  Read more

 

“Home Depot has best online gift card program” by Carla Caldwell at Atlanta Bus. Chronicle.  “Internet Retailers reports The Home Depot scored well because the retailer makes its e-gift card easy to find – it features a Gift Cards button at the top of its e-commerce site, near its shopping cart – it offers multiple gift options, including the ability for multiple consumers to send a friend one gift card, and because its e-gift cards are easy to personalize.”  Read more

 

“Container Store Files for $200M IPO” at Fox Business.  “The company, which sells a range of storage products from laundry baskets to luggage, said it operates 62 stores in 22 American states and the District of Columbia.  The Container Store’s net sales grew 11.5 percent to $706.7 million in the year ended March 2. Net loss narrowed to $130,000 from $30.7 million.”  Read more

 

“Amazon boosts holiday hiring 40%” by Jay Greene at Seattle Times.  “Amazon plans to add 70,000 full-time seasonal jobs in its 45 warehouses in the country for the holidays. Last year, when it had 40 warehouses, it hired 50,000 seasonal workers.”  Read more

 

“AT&T Begins Spreading Its Gigabit Fiber in Austin, Taking On Google” by Ina Fried at All Things D.  “AT&T said Monday night that it has begun its gigabit-per-second fiber deployment in Austin, Texas — a move that rivals Google’s own fiber plans for the city.”  Read more

 

“Fewer buttons? Retailers skimping to boost profits” by Stephanie Landsman at CNBC via @RetailDive.  “”Retailers have trained consumers like dogs to pay prices of yesteryear for merchandise that is of lower quality.”  Read more

 

“Dollar General Takes Over #206 Spot From Netflix” at Forbes.  “In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, Dollar General has taken over the #206 spot from Netflix, according to The Online Investor.”  Read more

 

“Walmart Foundation Names New President”  “Walmart today announced that Kathleen McLaughlin, 48, has been named president of the Walmart Foundation, effective October 15. In addition to leading corporate giving, she will have responsibility for the company’s global sustainability, women’s economic empowerment initiatives and healthier food initiatives.”  Read more

 

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