Thursday Tipsheet: Lowe’s Adds 3-D Print | Wmart CIO Speaks | W.Foods Can’t Win | CEO Post Open
Lowe’s brings 3-D printing to home improvement by Krystina Gustafson at CNBC. “In the latest project to come out of the home improvement store’s innovation labs, Lowe’s Orchard Supply Hardware store in Mountain View, California, on Wednesday will debut 3-D printing and scanning services that let shoppers customize their home accents and fixtures.” Read more
Alibaba Secretly Invested In Amazon Challenger Jet.com by Ryan Mac at Forbes. “With promises that his company will offer cheaper prices than Amazon for products ranging from sporting goods to toilet paper, Jet’s founder Marc Lore has raised more than $225 million, a stunning amount given that his company has not yet unveiled its e-commerce website.” Read more
Forbes: The Richest Person In Every State (Hank & Doug Meijer – MI, John Menard Jr. – WI) See the 50 state list
Wal-Mart CIO Karenann Terrell at InformationWeek Conference: “Does anyone here believe they have all the talent they need? Let me know, ’cause we’re interested in your talent,” she said, and laughed, knowing there’d be few takers…In a footnote to the proceedings, she also compared her former home city of Chicago to Bentonville, Ark. “The quality of life in Bentonville is fantastic. It’s a little known place with a fantastic amount of talent.” Read more
…What Walmart Learned From the Target Data Breach by Sean Michael Kerner at eWeek. “What Target taught the entire industry was that you can’t have any single point of failure,” (CIO Karenann) Terrell said…”So what we learned is that single points of failure anywhere can have really drastic effects, and the ability for an attack to go undetected for a period of time, just exponentially increases the damage that can occur.” Read more
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Former REI executive becomes Bartell Drugs’ fourth CEO by Angel Gonzalez at Seattle Times. “The anointed executive is Brian Unmacht, a member of Bartell’s board of directors who in January was named president, a move that hinted at the succession announced Wednesday.” Read more
Target board picks Ecolab CEO Doug Baker for leadership post by Nick Halter at Minn./St.Paul Business Journal. “Ecolab CEO Doug Baker has been elevated to lead independent director on the Target Corp. Board of Directors, making him the most powerful non-executive at the Minneapolis-based retailer.” Read more
J.C. Penney says it didn’t have suppliers in collapsed Bangladesh factory by Maria Halkias at Dallas News. “Penney said this week that while it still won’t comment on the lawsuit itself, it wants to clarify some things: The factories in Rana Plaza were not suppliers for Penney’s private brand merchandise. “Therefore, we did not place orders with those factories.” Read more
Walmart opens mini store on VCU’s campus at Richmond Times Dispatch. “The 4,100-square-foot store is the fifth — and largest — of the campus-format shops operated by Arkansas-based Walmart…The store has 20 employees. Holmes said Walmart’s recent decision to raise its starting-employee wage from the legal minimum of $7.25 per hour to $9 per hour is a plus for workplace enthusiasm. “It’s helpful,” she said. “It engages them at a different point.” Read more
Whole Foods Under Fire for… Making Sandwiches for National Guard? at Fox News. “Whole Foods took down a photo of the National Guardsmen it fed after backlash on social media. The company posted a photo to Facebook and Instagram of members of the National Guard holding a bag of its groceries. The National Guard has been called in to Baltimore to help manage the protests that have broken out in the wake of Freddie Gray’s death.” Read more
Amazon UK doubles the minimum spend for free delivery to £20 by Matt Brian at Engadget. “…in July 2013…the company introduced a £10 minimum spend to have your order delivered on the house. Almost two years later, the online retailer has announced it’s raising that limit again, by doubling it to £20. One reason for the change could be to incentivise customers to put down £79 for Prime.” Read more
Retailers struggle to combat out-of-stock problems by Kim Souza at The City Wire. “One of the initiatives underway is known as “DC Pooling” which Wal-Mart said 36 suppliers are doing at this time. This is a result of Wal-Mart’s conversion to the new GRS software. Insiders said DC Pooling is not new, and is merely consolidating freight into full truck loads which is a cheaper and more efficient way to move freight.” Read more
Hillman Cos. looking for a CEO at Cincinnati.com. “The company reported 2013 revenues of $701.6 million with 2,570 employees. Founded in 1964 as a fastener and keys company, Hillman has more than 26,000 retail customers in the U.S.” Read more
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. Contact us at email@example.com.