Monday Tipsheet: Amazon Penny Glitch | $8.3 Bil for PetSmart

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This company loves to move into locations where Sears fails by John Jannarone at CNBC. “There’s still a lot of empty boxes out there and there will be for a long time,” At Home CEO Lewis Bird III said in an interview this week. “We’re the only retailer looking for a big box format.” Read more

 

U.K: Amazon 1p sales bonanza after computer glitch misprices thousands of items, leaving angry retailers ‘losing £30,000 overnight’ at Daily Mail. “For an hour on Friday, between 7pm and 8pm, a problem with RepricerExpress led to hundreds of items being sold on Amazon at a fraction of their normal price. It is unclear whether the processed orders will be delivered to customers or cancelled, and whether retailers will be reimbursed for their losses.” Read more

 

What’s in store for Walgreen now by Brigid Sweeney at Crain’s. “Being able to meld the front end and the back end is going to be key,” says Vishnu Lekraj, a senior analyst at Morningstar. “Walgreen hasn’t done an effective job of this so far.” Though same-store sales and the size of customers’ purchases have increased, foot traffic is down.” Read more

 

NYC: Amazon Fresh definitely not stopping at Park Slope by Ben Fischer at New York Bus. Journal. “The company announced Friday it’s serving customers in nine additional Brooklyn neighborhoods, covering much of the western and northern reaches of the borough.” Read more

 

Will the same-day delivery war be won by a competitor you’ve never heard of? by Sarah Halzack at Washington Post. “Deliv’s model is geared toward a generation of shoppers who want service that is both predictable and flexible. It’s designed to accommodate a shopper who wants his purchase to arrive in the two-hour window between his haircut appointment and his kid’s soccer game.” Read more

 

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Stop blaming store size for weak results by Krystina Gustafson at CNBC. “DDR CEO Dan Hurwitz said, too much blame gets put on what the store, or “box,” looks like, when often it’s what’s inside the box that’s the problem.”Keep in mind when Best Buy couldn’t keep flatscreen TVs in the store, they weren’t talking about reducing the size of their square footage,” Hurwitz said.” Read more

 

Australia: Woolworths raises petrol prices when Costco turns pumps off in evening by Clare Colley at Sydney Morning Herald. “Woolworths has been slammed as giving motorists a”two-fingered salute” by raising its petrol prices minutes after its new discount competitor, Costco, shuts its bowsers at night. As soon as the new Costco petrol station turned its pumps off at 9.30pm on Thursday, Woolworths’ petrol prices rose 14c to 143.9 cents per litre.” Read more

 

PetSmart Agrees to BC Partners’ $8.3 Billion Takeover Bid by David Welch at Bloomberg. “It was a very competitive auction,” Raymond Svider, a managing partner at BC Partners, said in a telephone interview. “The company should never have been put in play. Growth slowed and the market overreacted. We feel fortunate.” Read more

 

Mystery solved! Amazon delivers giant boxes of toys to charities around the U.S. by Blair Hanley at GeekWire. “Employees from Amazon’s fulfillment centers will deliver a total of 15 boxes to groups around the country, including a Boys & Girls Club in Kenosha, Wisconsin and a children’s hospital in San Antonio, Texas. Each box contains over $5,000 in toys, gifts and other equipment that recipient organizations say they need.” Read more

 

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Eye-on-Retail is a daily tipsheet read by thousands of Retail Merchants & Executives every weekday morning. It’s created early AM and delivered around 8 AM EST daily. We love data, earnings reports, executive presentations and stories off the beaten path that get at what’s happening in the world of retail. info@shiftmarketinggroup.net.

Friday Tipsheet: Safeway Roof Collapses | Lowe’s Analyst Highlights | Target Picks Memphis

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NRF: Retail Sales Up 0.6% in November by Stephen E. Schatz. “Gains were consistent with NRF’s holiday sales forecast, which anticipates an increase of 4.1 percent over last year.” Read more

 

The price is (no longer) right: Retail’s big game by Krystina Gustafson at CNBC. “Amazon and Sears are the most dynamic retailers. They can alter what they charge on 15 to 20 percent of their assortment at least one time a day during regular shopping periods. Wal-Mart falls in the midrange, changing prices on about 6 to 8 percent of its assortment on a daily basis.” Read more

 

Target hacking-case judge voices doubt on claim nobody hurt by Beth Hawkins & Andrew Harris at Bloomberg via Star-Tribune. “You have people here who were honest-to-goodness hurt, who were injured,” U.S. District Judge Paul Magnuson told the company’s lawyer, Harold McElhinny, at a hearing Thursday in St. Paul. “Now, whether that’s Target’s fault is for another day.” Read more

 

San Jose: Storm-battered roof collapses onto produce section at Safeway by Robert Salonga at San Jose Mercury News. “The produce section at an East San Jose Safeway got more than its usual misting Thursday when a storm-battered roof collapsed, exposing a 50-square-foot section of the store. No one was seriously injured when the roof gave way about 4 p.m. at the store at East Capitol Expressway and Silver Creek Road.” Read more

 

Kroger chairman steps down by Alexnader Coolidge at Cincinnati.com. “Kroger’s chairman and former CEO David Dillon will retire Dec. 31 after 38 years with the company. Dillon, 63, who served as CEO from 2003 to 2013, will be replaced as chairman by Rodney McMullen” Read more

 

Target picks Memphis for $50M distribution center by Ryan Poe at Memphis Business Journal. “Target will open its new online fulfillment center in the 900,000-square-foot industrial building at 5461 Davison Road. Hiring will begin in early 2015, with the center becoming operational by mid-2015, the release said.” Read more

 

Shareholder adviser to Family Dollar: Delay vote by Matt Townsend at Bloomberg via Charlotte Observer. “Family Dollar Stores investors should oppose the current Dollar Tree takeover offer and postpone a Dec.23 meeting to vote on the deal, shareholder adviser Institutional Shareholder Services Inc. said.” Read more

 

Best Buy apologizes for Serial tweet by Kavita Kumar at Star-Tribune. “Best Buy found itself hustling Thursday afternoon to retract a tweet some found insensitive related to a closely-watched murder case.” Read more

 

Target holds job fair for new Hawaii store at KITV ABC 4. See the video

 

Lowe’s Outlines Strategic Priorities and Long-Term Financial Targets “Total sales are expected to increase 4.5 to 5 percent. Comparable sales are expected to increase 3.5 to 4 percent. The company expects to open 6 home improvement and 4 hardware stores.” Read the release

 

Lowe’s Signs Deal for Chelsea NYC Flagship by Lauren Elkies Schram at Commercial Observer. “A spokeswoman for SL Green declined to cite rents, but said the store is slated to move into the basement, ground floor and second floor in the second quarter of 2015.” Read more

 

Lowe’s: Heard on Yesterday’s Analyst & Investor Conference 

 

Canada

Lowe’s plans to open 25 new stores over next three years (Total of 62 stores in Canada by end of ’17)

Opportunity for 100 stores in Canada of varying formats

 

Mexico

Will open five new stores over next three years (Total of 15 stores in Mexico by end of ’17)

Testing the model to make sure it’s right

 

Australia

Slowing pace of expansion

Plans to open 30 new Masters stores over next three years (Total of 79 Masters stores by end of ’17)

 

Manhattan & City Center Concept 

Lowe’s is entering Manhattan with two new urban stores in ’15

Open to accelerating concept if test goes well

Stores are 30K square feet and have a multi-story layout

 

Orchard Supply

Plans to open up to 40 stores over next three years

 

Sherwin-Williams Paint Exclusive 

Lowe’s announces new HGTV Home by Sherwin-Williams paint line

Says this is the first time in more than 40 years that Sherwin-Williams has made its brand available in another retailer

 

National Brand New Additions

2014: GRK Fasteners, Hubbell, Pella, Henry, Progress Lighting

2015: Rinnai, Culligan, Goldblatt tools, GAF roofing, Owens Corning, Lennox, Troy Bilt Flex, Sherwin-Williams

 

Notable

70% of online orders are picked up in store or delivered by the store

“Our business is sound and our brand is strong” (Robert Niblock)

Private brands account for about 20% of sales

U.S. accounts for 98% of sales today

Orchard platform able to offer brands not available in larger home improvement stores (Benjamin Moore, Craftsman, Carhartt, Dr. Earth)

 

Listen to Webcast (2 hrs 43 min) / See Exec Presentations

 

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Eye-on-Retail is a daily tipsheet read by thousands of Retail Merchants & Executives every weekday morning. It’s created early AM every weekday and delivered around 8 AM EST. We love data, earnings reports, executive presentations and stories off the beaten path that get at what’s happening in the world of retail. info@shiftmarketinggroup.net.

 

 

 

 

 

Thursday Tipsheet: McMillon on CBS | Wgreen CEO Out | Costco Call Summary

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“Walgreen CEO Is Out as Top Shareholder Pessina Takes Over” by Michelle Fay Cortez at Bloomberg. “Walgreen Chief Executive Officer Greg Wasson will retire, clearing the way for top shareholder Stefano Pessina to tighten his grip amid a merger with his European retailer Alliance Boots GmbH…Pessina, 73, will be acting CEO while the company searches for a successor…The move makes almost a clean-sweep of Walgreen’s former executives.” Read more

 

“How Wal-Mart Made Its Crumbling China Business Look So Good for So Long” by Renee Dudley & Liza Lin at Bloomberg. “The practices — including bulk sales to other retailers and some sales allegedly booked when no merchandise left the shelves — made business appear strong even as retail transactions slowed and unsold inventory piled up, these people and documents say. Wal-Mart said in August that it was unhappy with inventory growth internationally.” Read more

 

Walmart CEO Appears on CBS This Morning  See the interview

 

“Walmart CEO: We’ll Do Away With Minimum Wage Pay In New Year” by Clare O’Connor at Forbes. “We’re going to make changes in a few months that will create a situation where no Walmart associate in the United States makes federal minimum wage,” McMillon told ‘CBS This Morning’ co-host Charlie Rose in a rare, fairly wide-ranging sit-down discussion. “We’ll be ahead of that with our starting wage.” Read more

 

“Another top executive leaves Walmart U.S. at height of holiday season” by Phil Wahba at Fortune. “Operating Officer Gisel Ruiz (will) be leaving to go to Walmart International, and be replaced immediately by Judith McKenna, a 20-year Wal-Mart veteran who most recently served as chief development officer for Walmart U.S.” Read more

 

*** New product spotlight – A message from Eye Dig It Safety Sunglasses: Fashionable protection….set your sights on this pair of chic sunglasses to find the best of both worlds. Maximum visual perception and shatter/scratch-resistant protection, Eye Dig It helps protect your eyes from debris and provide UVA and UVB protection…there’s no need to sacrifice your safety for style. Available in Black and Tortoise Shell. See the sell sheet.  For more information contact info@shiftmarketinggroup.net

 

“Dot-Com Survivor BuildDirect Bets The House To Battle Lowe’s and Home Depot” by Ryan Mac at Forbes. “The company, which sells hardwood flooring, patio furniture and marble tile, has been on a start-and-stop schlep through the dot-com bubble, the housing collapse and plenty of skepticism. After 15 years BuildDirect is finally the overnight success story CEO Booth and cofounder Rob Banks envisioned it would be.” Read more

 

Women’s Wear Daily: “Ten of Tomorrow – Marvin Ellison, J.C. Penney” by David Moin. “I was surprised they were in such great moods,” despite working the holiday. Plus, they started at 5 p.m. versus 8 p.m. a year ago. Management debated when to open, Ellison said, yet associates “really petitioned us to open at 5. They wanted to win.” He came and went through Penney’s stores unannounced. “I still have the luxury of being able to walk around the stores pretty anonymously. They don’t recognize me.” Read more

 

“Target to Make No Harm-No Foul Argument in Breach Suit” by Andrew Harris at Bloomberg. “A victory for Target would also benefit retailers including Home Depot that face lawsuits after an explosion of hacking intrusions. Judges in previous cases found that the mere risk of identity theft alone isn’t enough, without proof of actual or imminent financial loss, for cases to proceed in federal court.” Read more

 

NY Times: “Online Deals for Holiday Shopping: Buyer Beware” by Farhad Manjoo. “So far this year, The Wirecutter and The Sweethome have researched 54,000 holiday deals. They’ve found that only a bit more than 300 of them — less than 1 percent — are worth your time. “When we find a deal that we think is good, it’s a needle in a haystack,” Ms. Cheng said.” Read more

 

“Walmart cashier helps customer buy groceries” by Marty Casper at News 10 ABC. “I felt really bad for him,” she said. “I didn’t want him to go home and not have something that he really needed to eat.” Instead, Karpen took $40 out of her own pocket for the man to use toward his groceries. “He didn’t quite realize what happened,” she said. Her manager, Jamie Cobb was stunned. “When I heard that I just couldn’t believe that,” she said.” See the video / Read more

 

— SEEKING INPUT: What do you like about this tipsheet? What do you dislike? Email info@shiftmarketinggroup.net with some thoughts on how to improve this morning rundown. 

 

Heard on Costco’s Q1 Earnings Call

Richard Galanti:

New stores

We opened eight new locations during the first quarter, which ended November 23rd, six in the U.S., our seventh location in Australia and our second location in Leone, Mexico.

We have no openings plan for Q2, for all of fiscal ’15 however, we have a current plan of 31 new locations, 18 of which will be in the U.S., three each in Japan and Mexico, two each in Australia and Korea, and one each in Canada, U.K. and Taiwan.

Australia is what two-thirds of the size population wise as Canada, where we have 90 or so units, we have seven in Australia. I’m not suggesting we are going to have 45 in Australia anytime soon. But certainly we will get more than seven.

Japan is certainly a bigger market for us. We’ve got 23, I believe, 22 or 23. We should have a lot more than that.

International

Better performing countries were Canada, Taiwan and Mexico.

LivingSocial

In early September for eight days we ran a nationwide promotion for new members on LivingSocial. It was a good value and we felt worked pretty well, but we will continue to look and see what we want to do going forward, no plans at this point.

Costco Online

We’re now in four countries, U.S., Canada, U.K. and Mexico. For the quarter, sales and profit were up over the year. E-commerce sales were up 20%, up 19% on a comp basis.

International online: stay tuned, maybe one additional country by fiscal year end ‘15

Google Shopping Express test

It’s too early to completely tell but we’re seeing some increased overall spend and it’s been a good partner to work with Google. 

Alibaba

It’s great but it’s new and we’ll see where it goes from here but certainly get our name noted a little bit over there as well.

Category Comps

Food and sundries: up in the mid-single digits. Candy, deli and spirits were up with the relative standouts.

Hardlines: up in the mid-single digits for the quarter. Electronics, came in high-single digits range. Better performing departments within hardlines was hardware, sporting goods and tires.

Within mid single-digit softlines, domestic, apparel and home furnishings were the standouts.

Fresh foods: comps were in the high singles, with meat department being the standout there.

I think in the last two years, we’ve little more than doubled organic sales from the low billions to closing in on $3 billion currently. 

 

Read the Full Transcript via Seeking Alpha (Registration)

***

Eye-on-Retail is a daily tipsheet read by thousands of Retail Merchants & Executives every weekday morning. Eye-on-Retail is unique because it’s timely, smart and fun. It’s created early AM every weekday and delivered between 7-8 am CST. We love data, earnings reports, executive presentations and stories off the beaten path that get at what’s happening in the world of retail. info@shiftmarketinggroup.net.

Wednesday Tipsheet: Costco +7% | Canada & ‘Price Gouging’ | Wmart Likes TX

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“Costco Q1 Comp Sales +7%” “Net sales for the quarter increased seven percent, to $26.28 billion from $24.47 billion during the first quarter last year.” Read the release

 

WSJ: “Costco Profit Gain Falls Short of Forecasts” by Angela Chen. “Profit for the quarter rose to $496 million, or $1.12 a share, from year-earlier earnings of $425 million, or 96 cents a share. Revenue improved 7% to $26.87 billion. Analysts had expected a profit of $1.52 a share and revenue of $26.92 billion, according to Thomson Reuters.” Read more (Subscription)

 

“Costco’s a deal for shoppers. The CEO may be, too.” by Gary Strauss at USA Today. “In an era of oversized pay packages and stock grants, Jelinek pulled in a relatively modest $5.6 million in fiscal 2014 compensation, up 4.8% from 2013, the members-only warehouse giant and USA’s second-largest retailer said in a preliminary proxy Tuesday. That’s about half the median $10.5 million pay Standard & Poor’s 500 company CEOs made in 2013.” Read more

 

“Target testing “vignette” model for home decor” by Nick Halter at Minn./St.Paul Bus. Journal. “Target is experimenting with a new home-decor layout that eschews aisles in favor of open showroom-like areas that display how products would look in a room. The test launched Nov. 8 in Target’s Northeast Minneapolis store — where it does many of its pilots — and hasn’t been introduced elsewhere, at least not yet.” Read more

 

“Ottawa targets U.S. retailers over ‘price gouging’” by Gordon Isfeld at Financial Post. “The federal government may be pushing ahead with a promised crackdown on retailers who jack up their prices — and viewed as widening the gap between Canada and the United States…Industry Minister James Moore said Tuesday that new legislation will tackle the so-called “geographic price discrimination” between the two countries — a practice he prefers to call “price gouging.” Read more

 

“Ottawa’s proposal to probe retail price gaps finds few backers from suppliers” by Marina Strauss at Globe & Mail. “Supplier groups are unimpressed by the federal Conservative government’s attempt to use legislative pressures to sway companies to drop prices.“From what I gather, I don’t think this effort will make any difference,” said Bob Kirke, executive director of the Canadian Apparel Federation.” Read more

 

“Big retailers price black, white Barbies differently” by Katie Little at CNBC. “They should always be the same price, across all ethnicities,” a Wal-Mart spokesman said Tuesday evening. “This is just a pricing error. We corrected it immediately.” Read more

 

“Organic-Farming Boom Stretches Certification System” by Caelainn Barr at WSJ. “There are currently 81 accredited “certifying agents,” or groups that stamp food as organic in the U.S. But of the 37 that had a complete review this year, 23 were cited for failing to correctly enforce certification requirements on farms in audits, according to an internal Agriculture Department report.” Read more (Subscription)

 

“Wal-Mart cuts a new path through rural Texas” by Maria Halkias at Dallas News. “Wal-Mart is rediscovering small-town Texas. This time it’s focusing on even smaller towns than it did in the 1970s and 1980s. Wal-Mart will open 37 stores in the state from November through the end of January.” Read more

 

“Retailers Using Science To Shape Shopping Experience” by Kathryn Hauser at WBZ CBS Boston. “For bigger stores neuroscience could be the new norm. “As the digital world is taking off more competition in traditional brick and mortar stores they have to do something to compete,” says Dr. Marci. And the new playing field is our own subconscious.” Read more / See the video

 

“Target to sponsor 2 Ganassi entries in 2015 as retailer looks to spend more on marketing” by Jenna Fryer at Star-Tribune. “We are just reallocating dollars, there’s no difference in anything else,” said Dan Griffis, vice president of experiential marketing and alliances at Target. “I would put our investment in racing as the only full-time sponsor in both IndyCar and NASCAR, against any other sponsor in the sport.” Read more

 

“The Top 50 Places to Work in the U.S. (HEB #7, Costco #29, Wegmans #32)” by Jared Linzon at Fast Company. See the Top 50 List

 

“Amazon Will Allow Negotiating on Prices for Some Products” by Jason Del Rey at Recode. “Amazon has introduced a price-negotiating feature for some of its items in an apparent bid to boost sales in its collectible and fine art categories, which include sports and entertainment memorabilia.” Read more

 

…About 150,000 items for sale on Amazon are eligible for the service, but that will expand to more third-party sellers in 2015 by Mae Anderson at HuffPo. Read more

 

“Best Buy will look for other paper suppliers after Greenpeace report” by Kavita Kumar at Star-Tribune. “The announcement by the Richfield-based electronics chain this week comes in the wake of a recent Greenpeace report that criticized the retailer for using Resolute Forest Products as its primary paper supplier.” Read more

 

San Jose: “See inside the debut of the Whole Foods grocery store” by Vicki Thompson at Silicon Valley Bus. Journal.  See the 16 Pics / Read more

 

Berkeley: Good Samaritan Attempts to Stop Looting of Radio Shack, Gets Struck in Face for his Efforts by Jason Howerton at The Blaze. “The victim was actually a fellow protester, according to Berkeleyside. The news website reported that there were a “series of aggressive interactions between protesters who wanted to keep the peace and stop those who were breaking windows at Radio Shack and those who were encouraging the vandalism.” See the video / Read more

 

***

Eye-on-Retail is a daily tipsheet read by thousands of Retail Merchants & Executives every weekday morning. Eye-on-Retail is unique because it’s timely, smart and fun. It’s created early AM every weekday and delivered between 7-8 am CST. We love data, earnings reports, executive presentations and stories off the beaten path that get at what’s happening in the world of retail. info@shiftmarketinggroup.net.

Tuesday Tipsheet: Christmas Spend +12% | Wgreen’s Virtual Doc | Looting Champagne

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“Americans plan to spend most in 5 years this Christmas” by Steve Liesman at CNBC. “The average American plans to spend $765 this year, up 12 percent versus last year, and about 6.5 percent higher than the average across the survey’s nine-year history.” Read more

 

“Bill Gates’ dad leaving Costco’s board after 11 years” by Ben Miller at Puget Sound Bus. Journal. “Costco said in an SEC filing that “the voluntary resignation is not due to any disagreement with the company on any matter relating to the company’s operations, policies or practices.” Read more

 

UK: One in three items of clothing, furniture and household appliances are now purchased online by Dan Hyde at The Telegraph. “Outside of food, the purchase most commonly made online – as opposed to in person – was shoes, the British Retail Consortium found. Almost 34 per cent were bought over the internet in November.” Read more

 

“Walgreen tests virtual doctor visits through app” at AP via SF Gate. “Walgreen is testing a telemedicine service that lets patients see a doctor without leaving home or even visiting any of the drugstore chain’s clinics. The company says patients in California or Michigan can contact a physician around the clock through Walgreen’s mobile application for smartphones or tablets.” Read more

 

“Best Buy dangles free two-day shipping to lure holiday shoppers” by Kavita Kumar at Star-Tribune. “Best Buy’s aggressive shipping offer appears aimed in part at Amazon Prime members, who can get free two-day shipping, said Kevon Hills, vice president of research for StellaService, a firm that tracks retailers’ shipping speed and customer service. “But it also seems aimed at Target,” he said.” Read more

 

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“Fannie Approves 3% Down Payments” by Dunstan Prial at Fox Business. “Fannie Mae and Freddie Mac on Monday announced details of a controversial plan to allow some first-time homeowners to obtain a mortgage while putting down just 3% of the price of the home.” Read more

 

Washington Post: “Meet the secret army of meteorologists who keep your holiday deliveries on time” by Drew Harwell. “Deep within a global operations nerve center in Memphis, a team of specially trained operatives scans data from nearly 200 countries, issues urgent “SNOCON” alerts and tracks a fleet of cargo jets via a glowing, wall-size “war board.” Their mission? To make sure no “Frozen” doll is left behind.” Read more

 

“Amazon Is Getting Sick Of The US Government Dragging Its Feet On Letting It Test Delivery Drones Outside” by Jillian D’Onfro at Business Insider.  “Amazon sent a letter to the Federal Aviation Administration warning that it would “have no choice” but to move more of its drone research outside the United States if it wasn’t allowed to do more testing outside soon.” Read more

 

“Tim Tebow shocks Walmart shoppers by paying layaway tab” at Austin 360 via ABC. “Oh my God, thank you!” she cried, hugging Tebow. Later, she called her mother, telling her: “Mom you’re never going to believe what just happened. Tim Tebow just paid my layaway!” See the video / Read more

 

Berkeley: Champagne Looted at Whole Foods at AP via ABC. “A Whole Foods grocery on historic Telegraph Avenue was looted, with people stealing bottles of champagne and passing them around the crowd.” Read more

 

Claim: Grumpy Cat Made $114 Million in Two Years by David Millward at The Telegraph via Financial Post. “I was able to quit my job as a waitress within days of her first appearance on social media and the phone simply hasn’t stopped ringing since.” Read more

 

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Eye-on-Retail is a daily tipsheet read by thousands of Retail Merchants & Executives every weekday morning. Eye-on-Retail is unique because it’s timely, smart and fun. It’s created early AM every weekday and delivered between 7-8 am CST. We love data, earnings reports, executive presentations and stories off the beaten path that get at what’s happening in the world of retail. info@shiftmarketinggroup.net.

Monday Tipsheet: Wmart Dominates YouTube | Instacart = $2 Bil? | ’15 GDP Revise

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“Walmart Dominates YouTube During Thanksgiving Holiday Period With 39 Million Video Views” by Amy Gesenhues at Marketing Land. “Report shows Walmart owned 50 percent of total channel views for top 100 retail brands on YouTube from November 19 though December 2.” Read more

 

“Economists see revved-up economy next year” by John W. Schoen at CNBC. “In case you missed it, the U.S. economy is picking up speed. That’s the view of a panel of business economists, whose latest growth forecast calls for a 3.1 percent advance in U.S. gross domestic product in 2015—up from a 2.2 percent expansion this year.” Read more

 

Big Lot’s CEO: Opening on Thanksgiving was a Mistake by Dan Eaton at Columbus Business First. “Big Lots executives visited competitors and in some cases, he said, “didn’t see one person at the cash register” at 9 a.m. on Black Friday.” Read more

 

Excerpt from Thomas Lee’s new book on future of big box retail: “If there’s one thing Best Buy did right, it picked great locations for its stores. About 70 percent of the population in the United States live within 15 minutes of a Best Buy. The proximity to customers allows each store to act as a mini-distribution center where consumers can pick up merchandise or have the stores deliver to their homes and workplaces…” Read more

 

“Grocery Delivery Startup Instacart Raising $100 Million-Plus at $2 Billion Valuation” by Jason Del Rey at Recode. “Previous investors, including Sequoia Capital and Andreessen Horowitz, are re-upping in this round. “ Read more

 

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“Walmart editing ‘I can’t breathe’ phone commercial over Eric Garner protests” by Faith Karimi at CNN. “We’re re-editing as we speak based on feedback we’ve received,” the retailer posted on Twitter. “We can see how the ad could be viewed differently today than when it first aired.” Read more

 

“Schnucks hires Sam’s Meat Market workers displaced by Ferguson fires” at Fox 2 News – St. Louis. “It’s kind of like a personal mission to try to go after these guys. It was something. Like every door we went to, we couldn’t get a hold of them, we couldn’t get a hold of them. Then we found them. That was the most rewarding. The second most rewarding was when we were able to hire them yesterday and they looked me in the eye, shook my hand, and said, ‘thank you’.” said Schnucks Market VP Ed Meyer.” See the video / Read more

 

Singapore: “FairPrice opens membership-only mega retail store, modelled after Costco” by Melissa Lin at The Straits Times. “Exclusive brands available at Warehouse Club includes Costco’s Kirkland Signatures and Japanese green tea brand Ito En.” See the pics / Read more

 

“CEO of True Value to Appear on Undercover Boss this Sunday” by Mike Hibbard at Finger Lake Times. “He was recruited by Home Depot and spent eight years with the company and HD Supply, the professional services division of Home Depot…According to CBS, Hartmann is the first “Undercover Boss” who has actually done undercover work in the past.” Read more

 

“Retailer Mocks Don Henley For Suing Over ‘Obvious’ Joke” by Bill Donahue at Law 360. “Facing a lawsuit from Eagles front man Don Henley over email advertisements for henley-style shirts that urged customers to “Don a henley, take it easy,” Duluth Trading Co. blasted the singer Friday for suing over a promotion that was “obviously a joke.” Read more (Subscription)

 

“Dick’s and Tractor Supply Execs to Join NRF Session Panel” ” The panel will discuss best practices when introducing new technologies and key lessons learned along the way. Tuesday Jan 13th, 11:00 to 11:45 Speakers: Bryan Kirby, Manager of Pricing, Dick’s Sporting Goods…Jason Truss, Director of Pricing, Tractor Supply Company.” Read more

 

***

Eye-on-Retail is a daily tipsheet read by thousands of Retail Merchants & Executives every weekday morning. Eye-on-Retail is unique because it’s timely, smart and fun. It’s created early AM every weekday and delivered between 7-8 am CST. We love data, earnings reports, executive presentations and stories off the beaten path that get at what’s happening in the world of retail. Contact us @ info@shiftmarketinggroup.net.

Friday Tipsheet: Target’s Viral Pep Talk | Kroger +5.6% | D.Gen +2.8% | R.Aid +0.7%

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“Amazon Unveils Its Own Line of Diapers, Confirming Partners’ Biggest Fears” by Jason Del Rey at Recode. “By working directly with a manufacturer, Amazon will be able to price the brand aggressively, with a 40-count package of diapers starting at $7.99. That works out to about 19 cents a diaper, compared to competitor prices that mostly range from 24 cents to 34 cents.” Read more

 

“Target Employee’s Epic Black Friday Pep Talk Goes Viral” at RTV 6 ABC. “People of Target, brothers, sisters, hear me now,” he said. “They’re standing out there. Any moment now, those doors will be breached. Whatever comes through those gates, you will stand your ground with a smile on your face.”They come here with bargains in their heads and fire in their eyes and we shall give those bargains to them,” he continued.” See the video

 

“Kroger Q3 Comp Sales +5.6%” Read the release

 

“Kroger earnings surprise analysts, market reacts” by Steve Watkins at Cincy Bus. Courier. “Kroger’s sales climbed 11 percent to $25 billion. That also topped analysts’ estimates, which had called for sales of $24.8 billion.” Read more

 

…Three takeaways from Kroger’s earnings call by Steve Watkins at Cincy Bus. Courier. “1) The Harris Teeter acquisition is going swimmingly. Kroger has been able to cut prices, making it a popular move for customers. 2) Natural and organic items continue to be a home run, as do private label products. 3) Kroger keeps modifying its stores. Read more

 

“Dollar General Q3 Comp Sales +2.8%” “Importantly, we are seeing a significant step up as we start the holiday season, and we expect to achieve same-store sales growth of approximately 5 percent for the fourth quarter.” Read the release

 

…Dollar General CEO: Retailer is ‘committed as ever’ to Family Dollar acquisition by Jennifer Thomas at Charlotte Bus. Journal. “Thus far, Dollar General has spent $8.2 million related to its proposed acquisition of Family Dollar. It also has delayed share repurchases pending the outcome of those efforts.” Read more

 

…Dollar General Q3 Earnings Call Transcript via Seeking Alpha  Read the transcript

 

Dollar Tree Release: “Dollar General continues to refuse to agree to a “hell-or-high-water” commitment. Based on the foregoing concerns regarding the Pending Merger, Dollar Tree believes that the FTC may require divestitures far in excess of the 1,500 stores that Dollar General has offered to divest in its tender offer for Family Dollar.” Read the release

 

“Rite Aid November Front-End Sales +0.7%” “Total drugstore sales for the five-week period increased 5.6 percent to $2.571 billion compared to $2.434 billion for the same period last year. Prescription sales accounted for 69.7 percent of drugstore sales.” Read the release

 

“Walgreens Hires 1st Chief Merchandising Officer” by Corilyn Shropshire at Chicago Tribune. “Before a 15-month stint at Claire’s, (Linda) Filler was executive vice president and chief merchandising officer at Sam’s Club. She’s held several leadership roles at consumer brand companies, including vice president positions at Wal-Mart and Kraft Foods Group, according to a statement from Walgreen. Filler also has held leadership positions at Hanes Brands and Sara Lee Corp.” Read more

 

Sam’s Roz Brewer: How women can win a seat at the decision table by Phil Wahba at Fortune. “It is a reality—there are still so many inequities in the workplace—I see it everyday. They’re happening in companies,” said Brewer, who took the reins of Sam’s Club in 2012, adding that women routinely face bigger hurdles than their male counterparts. “I get tested every day.” Read more / See the video

 

“Amazon: Shop while you’re in the toilet” by David Goldman at CNN Money. “Amazon and Procter & Gamble want you to do business when you’re doing your business. The companies have partnered to place ads in public bathroom stalls across several U.S. cities. The ads show coupons for P&G products with barcodes that you can scan using the Amazon app. (Yes, they’re asking you to use your smartphone camera while in a public restroom.)” Read more

 

…“a whole new way to sit, shop and save.” by Barrett J. Brunsman at Cincy Bus. Courier. “How many people multitask on the toilet? An estimated 38 million Americans have shopped online while seated in a bathroom…Men were more likely to do so than women.” Read more

 

“Oops! Amazon sent this man $5K of free stuff” by Katie Little at CNBC. “The online retailer told the student, Robert Quinn, he could keep the stuff, saying “‘it’s on us.” The diverse haul includes a 55-inch Samsung 3D TV, leaf blower and ironing board. Quinn says he’s still receiving packages so he’s doesn’t think the error has been fixed.” Read more

 

“Sears to accelerate closings, shutter 235 stores” by Krystina Gustafson at CNBC. “Belus Capital Advisors analyst Brian Sozzi said the retailer likely needs to close another 200-plus locations in 2015.” Read more

 

“Michael Kors’ new NYC store is the talk of the town” by Alev Aktar at NY Post. “In mid-December, Michael Kors will open its biggest flagship in the world — a Michael megastore, if you will — at 520 Broadway in Soho. The boutique will feature three levels of Kors luxury.” Read the Kors interview

 

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Eye-on-Retail is a daily tipsheet read by thousands of Retail Merchants & Executives every weekday morning. Eye-on-Retail is unique because it’s timely, smart and fun. It’s created early AM every weekday and delivered between 7-8 am CST. We love data, earnings reports, executive presentations and stories off the beaten path that get at what’s happening in the world of retail. Contact us @ info@shiftmarketinggroup.net.

Thursday Tipsheet: Costco +5% | Wmart & Peter Pan | Bass Pro Adds Pyramid

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“Tinkerbell To Shine In Walmart Ads for NBC’s ‘Peter Pan’” by Brian Steinberg at Variety. “Walmart will have the heaviest presence in what is a sold-out program, said Dan Lovinger, executive vice president of entertainment ad sales at NBCUniversal…Set to air live at 8 p.m. on Thursday, December 4, NBC’s “Peter Pan” production shows the network doubling down on a gambit that worked well last year – and is gaining traction across the TV-scape.” Read more

 

“Costco November Comp Sales +5%” “Costco today reported net sales of $9.43 billion for the month of November, the four weeks ended November 30, 2014, an increase of seven percent from $8.79 billion during the similar period last year.” Read the release

 

“Walgreens November Comp Front-End +0.8%” “Walgreens had November sales of $6.36 billion, an increase of 4.9 percent from $6.06 billion for the same month in fiscal 2014.” Read the release

 

“Sears Q3 Comp Sales -0.1%” at Reuters. “Sears reported a quarterly net loss of $548 million, smaller than the range it had estimated last month, as the retailer cuts costs after years of sluggish sales.” Read more

 

“Walmart, Best Buy, Home Depot Most Efficient Advertisers” by Sarah Mahoney at Marketing Daily. “Walmart’s massive $70.7 million investment on TV advertising during the holiday period earned it a 38% share of store visitor traffic, the highest for any retailer. As a result, its visitor acquisition cost was the lowest, at $1.9 million per share point…Target, which spent $61.6 million, more than twice its 2013 budget, only attracted a third as many shoppers, getting a 13.2% share; it spent $4.7 million per share point.” Read more

 

NY Times: “Bass Pro Shops to Add a Memphis Pyramid to Its Business Empire” by Richard Fausset. “For years, Memphis has been haunted by its Riddle of the Pyramid: What do you do with an empty 32-story glass-and-steel monument that was supposed to be this city’s answer to the Eiffel Tower or the Gateway Arch?…The much-maligned building…is scheduled to officially reopen in late April or early May as an outpost of the Bass Pro Shops empire.” Read more

 

CNBC’s Julia Boorstin speaks to Rosalind Brewer  See the video

 

“Best Buy to Exit China” by Laurie Burkitt at WSJ. “Best Buy is exiting the China market except for its sourcing operations, and that the sourcing of its private-label products—everything from tablets and cords to televisions—is projected to grow.” Read more (Subscription)

 

***A message from Juicebar JamBar. A refreshing burst of audio and power that lets consumers entertain on the go and recharge their smartphone at the same time!  Just plug the device directly into the built in 3.5mm audio prong and amplify your favorite music, videos and other media and boost talk time up to 16 hours.  Compatible with virtually any USB device and ready for use right out of the box. See the sell sheet.  See the video. www.juicebarchargers.com

 

“Lowe’s Exec: Here’s The Real Reason People Will Start Caring About Smart Home Gadgets” by Lisa Eadicicco at Business Insider. “Connectivity brings a new dimension [to safety],” he said…”When you’ve got an 80-year-old parent living on their own, what do they need a smart stove for?” Meagher said. “Every day of the week I’d pay [extra] for a smart stove that would switch things off.” Read more

 

“Target wins Corporation of the Year honor from supplier-diversity group” by Sophia Khori at Minn./St. Paul Bus. Journal. “Minneapolis-based Target spent $1.3 billion with diverse vendors in fiscal year 2013, 31 percent more than the prior year, said Luke Witt, manager of supplier diversity at Target. The retailer has increased its spending with diverse suppliers at a 7 percent compounded annual growth rate over the last five years, he said.” Read more

 

“Carrie Underwood Teams with Dick’s Sporting Goods to Launch Clothing Line” at Fox News. “Underwood’s athletic wear, which will be available in March 2015, features capris and pants that will average $60 to $85 and tops that average $30 to $35 and can be easily mixed and matched…Underwood said her focus was outfitting today’s busy woman, who is juggling her career, her family and friends and her active lifestyle.” Read more

 

“Grand Theft Auto 5 banned by Australian chain due to violence against women” by Keith Stuart at The Guardian. “The Australian retail chain Target has removed the controversial video game Grand Theft Auto V from sale in its stores.” Read more

 

“The Google misery index: The times of year we’re most depressed” by Christopher Ingraham at The Washington Post. “Averaging out each day over the past year, Tuesday and Wednesday are tied for the most miserable day of the week, with Monday and Thursday not far behind.” Read more

 

“Reporter Wishes OSHbot was More Witty” by Cyrus Farivar at ARS Technica. “It couldn’t parse Ars’ very first query: “I’m looking for Phillips head screwdrivers…Once that glitch was taken care of, the OSHbot located the screwdrivers on a floor plan of the store and even offered to escort me to that section. I leisurely strolled along with it at its pretty slow pace of 1.5 meters per second—sadly, it couldn’t tell me any jokes to pass the time or even attempt some witty Siri-like repartée. Heck, it couldn’t even tell me where the bathroom was.” Read more

 

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Eye-on-Retail is a daily tipsheet read by thousands of Retail Merchants & Executives every weekday morning. Eye-on-Retail is unique because it’s timely, smart and fun. It’s created early AM every weekday and delivered between 7-8 am CST. We love data, earnings reports, executive presentations and stories off the beaten path that get at what’s happening in the world of retail. Contact us @ info@shiftmarketinggroup.net.