Archive for month: April, 2017

Cabela’s Enters into Revised Transaction Agreements in Connection with Bass Pro Shops Merger Press release

…Cabela’s stockholders face hit of $4 per share in revised Bass Pro sale plan by Paige Yowell & Cole Epley at Omaha World-Herald. “…shareholders may be relieved that the sale is moving ahead. “It’s better than having the deal fall apart,” said Erik Gordon, a professor at the University of Michigan’s Ross School of Business.” Read more

Floor & Decor launches IPO to raise $133 million by David Allison at Atlanta Business Chronicle. “Founded in 2000 and led by Home Depot veteran Tom Taylor, Floor & Decor operates 71 warehouse-format stores across 17 states.” Read more | Press release

Ikea May Be The Next Player In The Restaurant Business by Micheline Maynard at Forbes. “The idea came up in an interview with Ikea officials on Monday in Fast Company. Ikea has been looking across its businesses for new profit centers, and recently realized that its food operations might be an opportunity.” Read more

Macy’s picks Memphis for its first outlet store in the Southeast by Jacob Steimer at Memphis Business Journal. “Macy’s operates 28 Backstage locations nationwide.” Read more

Former OfficeMax execs Warren Bryant and Rakesh Gangwal opt out of re-election to Office Depot’s board of directors by Emon Reiser at South Florida Business Journal. Read more

Kroger to test home delivery in Richmond and Dallas at NBC 12. Read more

**A message from Lock-it Block-it – Shut out burglars – not the summer breeze! The Lock-it Block-it is a high-impact security bar that allows windows to stay open AND secure at the same time. 13 adjustment holes allow for inch-by-inch opening adjustments. Great for sliding doors/windows too! Video | Sell sheet | Retailers request samples: info@shiftmarketinggroup.net

Amazon closing in on Flipkart as top India e-commerce site among mobile users by Nat Levy at GeekWire. “Flipkart captures 30.7% mobile market share, versus 30.3% for Amazon. If trends in 7Park’s data are any indication, Amazon will soon pass Flipkart in mobile engagement. Amazon’s traffic grew 46% between the first quarters of 2016 and 2017, while Flipkart traffic declined approximately 11%.” Read more

Walmart Opens 100th Training Academy in the U.S. “Walmart plans to have a total of 200 academies opened across all 50 states by the end of summer.” Press release

Amazon expands its literary horizons, making big imprint in translation niche by Angel Gonzalez at Seattle Times. “AmazonCrossing, the publishing unit devoted to scouring the world for good tales, has in a short time become the most prominent interpreter of foreign fiction into English, accounting for 10 percent of all translations in 2016.” Read more

Whole Foods hires top attorney Heather Stern from Office Depot by Will Anderson at Austin Business Journal. Read more (subs.)

Amazon’s NFL Deal Includes $30 Million in Free Marketing by Scott Soshnick at Bloomberg. “…pushing the total value of the contract as high as $80 million, according to a person familiar with the terms.” Read more

Michael Kors Names Thomas J. Edwards, Jr. as CFO Press release

Amazon May Have Expressed Interest in Buying BJ’s Wholesale Club by Leena Rao at Fortune. “Investors expect BJ’s to fetch at least $4 billion for an acquisition.” Read more

Student panel queries Home Depot CEO Craig Menear by Gary White at News Chief. “Henderson asked Menear what advice he would give millennials on becoming business leaders. He said he follows his father’s advice to tackle everything with complete conviction, and he encouraged the students to be willing to take risks. After the students finished, FSC President Anne Kerr and Provost Kyle Fedler took the stage to confer an honorary doctorate upon Menear.” Read more

Canadians believe sugar, fat more harmful than marijuana by Sunny Freeman at Financial Post. “Just 18 per cent of respondents said they thought marijuana is “very harmful” — lower than the 19 per cent who said that about alcohol, 25 per cent who felt processed sugar was “very harmful” and 33 per cent who said that about saturated fat.” Read more

Tipsheet Extra Stories

Target sharpens edge through partnerships with Harry’s and Bevel razor companies

Whole Foods CEO’s book tour off to a rough start

Brawl at California Walmart stuns Easter shoppers

America’s first drive-thru weed shop opens – includes ‘soccer mom’ entrance

Shoney’s Hit By Apparent Credit Card Breach

Amazon Alexa Can Help People With Autism Do More On Their Own

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Wal-Mart to Discount One Million Online Items Picked Up in Stores by Matthew Boyle at Bloomberg. “Wal-Mart will first cut prices on about 10,000 web-only items such as Britax car seats and Lego toys, according to a statement. The Pickup Discount program, which starts on April 19, will expand to more than a million so-called “long tail” items by the end of June, the company said.” Read more

Amazon Said to Mull Whole Foods Bid Before Jana Stepped In by Spencer Soper & Craig Giammona at Bloomberg. “The e-commerce giant considered internally whether Whole Foods would help invigorate its nearly decadelong push into groceries, said the person, who asked not to be identified because the deliberations were private.” Read more

Walmart suppliers pushed for ‘best price,’ more in-store demos by Kim Souza at The City Wire. “If you want to be featured in the tab, on the floor, etc., you must have price leadership,” (Tony) Rogers said…Rogers encourages suppliers to bring forward their marketing and retailtainment ideas even if Walmart has said “no” before…He said there are 5,500 event specialists signed up to date, but Walmart hopes to have 12,000 by the end of the year.” Read more

Former Harris Teeter & Gap CEOs playing role in Whole Foods drama by Katherine Peralta at Charlotte Observer. “Jana’s proposed board nominees, including Dickson, have bought their own stakes in Whole Foods. Other proposed board members include Mark Bittman, a former food writer and columnist for The New York Times, and Glenn Murphy, Gap’s former CEO.” Read more

Wal-Mart is cutting hundreds of jobs to slash costs by Krystina Gustafson at CNBC. “The layoffs span the company’s international, technology and Sam’s Club divisions. They follow Wal-Mart’s decision to eliminate some 1,000 corporate positions earlier this year, including 200 in its e-commerce division.” Read more | WSJ article (subs.)

No Major Hiccups for Target’s Beckham Launch – Turnout at Redcard Pre-Launch Parties Low by Kavita Kumar at Star Tribune. “Target had expected to get 200 guests at each event. But the Nicollet Mall store in downtown Minneapolis, for example, only had a bit fewer than 100 customers for the 11 p.m. event after the store closed…”There is a learning curve for us with this,” said Thomas, adding that the team is taking a look at whether to adjust the times for such events in the future.” Read more

The Body Shop attracts bids from 15 firms by Ruth David at Bloomberg via Toronto Star. “…CVC Capital Partners, Carlyle Group LP and South Korea’s CJ Group…Bidders for the next round will be shortlisted this week, the people said…BC Partners, Bain Capital and Advent International Corp. were also among the firms that submitted bids, they said.” Read more

**A message from PaintPincher – Never Waste Paint Again! The PaintPincher is an ingenious 8-in-1 paint can spatula that recovers paint, stain, adhesives and more from gallon and quart cans, leaving them 99.9% clean. The PaintPincher is great for Pro and DIY painters and can save up to a cup of paint per gallon! Video | Website | Request sample: info@shiftmarketinggroup.net

Glassdoor: Top 25 highest-paying U.S. workplaces (Amazon Lab126 #10, Walmart eCommerce #20) by Taylor Soper at GeekWire. Top 25 list

Toys R US announces combination Of its Japan and Asia businesses via Reuters. Read more

Gymboree Set to Be Next Retailer to Seek Bankruptcy Protection by Phil Wahba at Fortune. “The company operates nearly 1,300 stores and has lost hundreds of millions in the last few years: it hasn’t reported an annual profit since 2011.” Read more

HIGHEST PENETRATION – 95% of US consumers made at least one trip to Walmart last year (Target 84%, Walgreens 77%, Dollar Tree 71%) at Quartz. Top 25 list

HBR: We Tracked Every Dollar 235 U.S. Households Spent for a Year, and Found Widespread Financial Vulnerability by Jonathan Morduch & Rachel Schneider. “It turned out that households experienced an average of five months per year with either a spike or dip. In other words, incomes were far from average almost half of the time. Income volatility was more extreme for poorer families, but middle class families felt it too.” Read more

Diplomat Pharmacy names former Walgreens, Sears exec as CFO at Chain Drug Review. Read more

The top 20 most visible paid search advertisers in Google US at netimperative. “Paid search – There are far fewer retail focused sites in the top 20 than in 2012. Then there were 11 retail focused sites included among the top 20…In 2017 there are only 5: amazon.com, bestdeals.today.com, jet.com, overstock.com and jcpenney.com.” Read more

Amazon gains wallet license to boost its business in India by Jon Russell at TechCrunch. “Currently, Amazon customers must go through two-factor authentication processes for each purchase that they make.” Read more

The great apparel slump is changing the way JC Penney and other retailers do business by Krystina Gustafson at CNBC. “While diversifying their businesses is a good strategy to grab incremental dollars, there is risk, Hogan said. Namely, the fact that multiple chains are chasing the same categories could eventually lead to a similar saturation that’s occurring in apparel.” Read more

Tipsheet Extra Stories

United Talent Agency Hacked: Work Disrupted, Ripples Throughout Hollywood

Philly: African American leaders, business owners launch ‘iBuyBlack’ discount card

Fast Company’s Mark Zuckerberg interview

Your Fridge May Be Washington’s Next Regulatory-Rollback Target

Now You Can Get Gucci Delivered in 90 Minutes

How arcade bars became boozy playgrounds for adults

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Eye on Retail Tipsheet is must-read material for 20,000+ retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.

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Website: www.eyeonretail.net

Amazon’s Third-Party Sellers Hit By Hackers by Laura Stevens & Robert McMillan at Wall Street Journal. “In recent weeks, attackers have changed the bank-deposit information on Amazon accounts of active sellers to steal tens of thousands of dollars from each, according to several sellers and advisers. Attackers also have hacked into the Amazon accounts of sellers who haven’t used them recently to post nonexistent merchandise for sale at steep discounts in an attempt to pocket the cash, those people say.” Read more (subs.)

Microsoft, eBay and Tencent invest $1.4 billion in India’s e-commerce giant Flipkart by Garen Gilchrist at CNBC. Read more

Wal-Mart tests store prototype by Robbie Neiswanger at Arkansas Democrat-Gazette. “…interactive table in Lake Nona’s electronics department allows customers to swipe their hand to learn about a product. Projectors located overhead sense hand movements and determine the direction a customer wants to go in their search for information. The store has a large touch screen in the toy department, giving customers a chance to sift through the retailer’s instore and online catalog.” Read more

GameStop Is Investigating a Possible Credit Card Security Breach on Its Website by Aric Jenkins at Fortune. “GameStop recently received notification from a third party that it believed payment card data from cards used on the GameStop.com website was being offered for sale on a website,” a company spokesperson wrote in an email to Fortune.” Read more

…Krebs: Two sources in the financial industry told KrebsOnSecurity that they have received alerts from a credit card processor stating that Gamestop.com was likely compromised by intruders between mid-September 2016 and the first week of February 2017. Read more

Bartell Drugs CEO resigns after two years as first outsider to run the chain by Janet I. Tu at Seattle Times. “He had some professional and personal things he wanted to take on,” Brewer said. “He had discussed it with the other members of the executive team and family, and decided to move on from there.” Read more

Sports Authority headquarters in Englewood sells for $15.77 million by Jason Blevins at Denver Post. “The $15.77 million deal involves two buildings: the 92,040 square-foot 1050 W. Hampden Ave. and the 118,167 square-foot 1090 W. Hampden Ave.” Read more

**A message from Lock-it Block-it – Shut out burglars – welcome the summer breeze! The Lock-it Block-it is a high-impact security bar that allows windows to stay open AND secure at the same time. 13 adjustment holes allow for inch-by-inch opening adjustments. Great for sliding doors/windows too! Video | Sell sheet. Retailers request samples: info@shiftmarketinggroup.net

How Jenna Lyons got too big for J.Crew’s britches by Maureen Callahan at NY Post. “Her work ethic, like Drexler’s, was rooted in childhood poverty; her parents divorced when she was in junior high, and she carried one defining moment: “I’ll never forget my mother standing in the tuna fish aisle, thinking, ‘Are we going to get tuna fish this week?’ Feeling like I never wanted to rely on a man. I was like, ‘I gotta work my ass off.’ ” Read more

Buc-ee’s, politics just don’t mix, fans of convenience store say after ‘Meet the Press’ mention by Maria Halkias at Dallas Morning News. “Backers of Trump’s son-in-law Jared Kushner eat at “a fancy restaurant in New York called Cipriani, ” said New York Times columnist David Brooks, a guest on the show. Brooks then  went on to say Bu-cee’s was more the speed of supporters of Steve Bannon, the White House Chief Strategist.” Read more

Koch-backed group unveils TV ad against border tax by Naomi Jagoda at The Hill. Read more

Who makes Trader Joe’s food? Inside the secretive (and very profitable) relationship between the discount store and the big brands behind their products by Karen Ruiz at Daily Mail. “According to the report, Annie’s Organic Shells and White Cheddar has the same ingredients as Trader Joe’s except the former contains cream. Crystal Geyser’s Sparkling Lemon Water had virtually the same taste and ingredients as the store’s version.” Read more

Filings reveal big new Apple Store at prime Seattle retail site, on Microsoft’s doorstep by Nat Levy at GeekWire. Read more

Samsonite buys eBags for $105 million by Matt Linder at Internet Retailer. “EBags launched in 1999, generated $158.5 million in sales last year, up 23.5% from $128.3 million the previous year.” Read more

HHGregg to close all 220 stores after failing to find a buyer by James Briggs at Indy Star. Read more

Sans CMO, Build-A-Bear Tries TV by Adrianne Pasquarelli at Ad Age. “Beginning today, toy brand Build-A-Bear Workshop is investing its marketing dollars in two PBS Kids programs, “Curious George” and “Wild Kratts.”…The company recently parted ways with its chief marketing officer after a disastrous holiday sales season. Now, it’s planning a return to traditional media like TV in order to reach more moms.” Read more

Guests Ring in Victoria Beckham for Target Launch Day at a Bullseye View. “The action began Saturday night, when a few hundred loyal guests got a chance to shop up to six items each at VIP events just for REDcard holders.” Read more

…Victoria Beckham’s Target range divides fans as they rush to purchase online – and hit technical difficulties by James Draper at The Mirror. “Thankfully, others were happy to offer their more successful experiences for reassurance. One young woman replied:” Call them to check, they are super helpful over the phone and they’ll confirm it for your peace of mind. Number’s on the site.” Another boasted: “Setting my alarm paid off. So excited I got my favorite VB pieces1″.” Read more

SkyMall co-founder has brain cancer by Hayley Ringle at Phoenix Business Journal. “A family friend is trying to raise $75,000 through a GoFundMe account to help the family with medical expenses.” Read more

Dead Bat Discovered in Salad Mixes Prompts Recalls From Walmart by Mahita Gajanan at Fortune. “The company issued the recall of Organic Marketside Spring Mix on Saturday after two people in Florida reported eating some salad before the bat was found in the box, according to the Centers for Disease Control and Prevention (CDC).” Read more

Tipsheet Extra Stories

Chicago 25 Best Places to Work 2017

Parents are loving Target’s ‘feeding station’

The 25 Most Powerful Stylists in Hollywood

NY Times: To Woo Young Moviegoers, AMC Thinks More Like McDonald’s

Battle of Billionaires: Son Set to Clash With Bezos in India

Jeff Bezos: ‘The only thing that’s disruptive is customer adoption’

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Eye on Retail Tipsheet is must-read material for 20,000+ retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.

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Contact us: Send story tips, press releases and advertising inquiries to info@eyeonretail.net

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How Target Botched Its Response to the North Carolina Bathroom Law by Khadeeja Safdar at Wall Street Journal. “Mr. Cornell, 58 years old, expressed frustration about how the bathroom policy was publicized, and told colleagues he wouldn’t have approved the decision to flaunt it, these people said. Target didn’t adequately assess the risk, and the ensuing backlash was self-inflicted, he told staff. Now, it was too late to reverse course. “You can’t take it back,” said one of these people, adding that Mr. Cornell “felt very stuck.” Read more (subs.)

Costco March Comp Sales +6% “Costco reported net sales of $11.64 billion for the month of March, the five weeks ended April 2, 2017, an increase of nine percent from $10.71 billion during the similar period last year.” Press release

Walmart to cut 300 positions in information systems division by Robbie Neiswanger at Northwest Arkansas Democrat Gazette. “Wal-Mart would not confirm the number of layoffs or the affected departments. The latest cuts are in addition to ones earlier this year that affected about 1,000 workers across multiple divisions.” Read more

…Impacted employees said they received an email to report to a training room on Tuesday (April 4) where they were told their jobs were being eliminated.

…Sam’s Club is also streamlining its home office personnel with meetings being held Wednesday (April 5) and Thursday. Sam’s also eliminated all of its club auditors this week. Kim Souza at Talk Business. Read more

Investors breathe life into Walgreen-Rite Aid merger by Josh Kosman at NY Post. “More than one prominent investor has recently approached Fred’s Inc. about investing money in the regional drugstore chain — a cash infusion that would help it digest the 865 Rite Aid stores being spun off so the mega-merger clears an antitrust review…Without the cash, Fred’s will not be able to compete against the combined company. “Fred’s does not make any money,” a source close to the situation said.” Read more

Nordstrom’s e-commerce investment is on the verge of paying off, analysts say by Coral Garnick at Puget Sound Business Journal. “…online sales have grown from 8 percent of the business in 2010 to nearly 25 percent of the business last quarter.” Read more

Bed Bath & Beyond Q4 Comp Sales +0.4% “Comparable sales from customer-facing digital channels grew in excess of 20% while comparable sales from stores declined in the low single-digit percentage range.” Press release

**A message from Lock-it Block-it – Shut out burglars, not the summer breeze! The Lock-it Block-it is a high-impact security bar that allows windows to stay open AND secure at the same time. 13 adjustment holes allow for inch-by-inch opening adjustments. Great for sliding doors/windows too! Video | Sell sheet. Retailers request samples: info@shiftmarketinggroup.net

Why Costco Loves Store Sales: You Try Shipping a Tub of Mayo by Sarah Nassauer & Laura Stevens at Wall Street Journal. “The investment is worth it, said Jamie Iannone, chief executive of SamsClub.com, because shoppers who buy both online and in stores spend more and renew their membership more often.” Read more (subs.)

7-Eleven operator to buy 1,100 US stores from Sunoco for $3.3 billion at CNBC. Read more

Lane Bryant CMO blasts the ‘Girls’ Lounge’ at conference – CEO pounces by Douglas Quenqua at Campaign US. “When Beitler walked off stage, Zalis was waiting for him, and an animated conversation ensued. The two descended the escalator together—debating all the way—and entered the Lounge. Soon, Beitler was seated on the lounge’s (much smaller) stage, a last-minute addition to a panel discussion titled “The Girl Gaze is More than a Perspective.” Read more

Jeff Bezos sells $1B of Amazon stock a year to fund space company Blue Origin by Alan Boyle at GeekWire. “Bezos threw out the figure half-jokingly, after noting that he typically doesn’t reveal how much he’s spending. But he made clear that his in-house space effort takes a noticeable chunk out of his estimated $78 billion fortune.” Read more

Top 200 Philanthropists & Social Entrepreneurs at Richtopia. List

Gordmans going-out-of-business sales will likely start Friday by Russell Hubbard at Omaha World-Herald. “A key part of the liquidation sales scheduled to begin Friday are the DSW shoes that Gordmans sells. DSW supplies shoes to Gordmans on a consignment basis, and had said in court papers filed earlier that it owned the merchandise and fixtures, not Gordmans, and that the court should allow it all to be repossessed. But it won’t come to that. Gordmans, the liquidation firms and DSW came to an agreement.” Read more

Amazon acquires stake in hydrogen fuel cell maker Plug Power, plans to spend $600M on batteries by Nat Levy at GeekWire. Read more

Tipsheet Extra Stories

Why ‘Grocerants’ are the new trend, taking bite out of restaurants

Ex-Best Buy marketing exec joins St. Paul-based Augeo

EBay Billionaire-Backed Startup Tries to Unravel Rickshaw Routes

What’s the Maker of Post-it Notes Doing in the Ankle Monitor Business? Struggling

Amazon Is Worth More Than Walmart, Costco, and Target Combined

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Eye on Retail Tipsheet is must-read material for 20,000+ retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.

Subscribe to Eye on Retail Tipsheet here

Contact us: Send story tips, press releases and advertising inquiries to info@eyeonretail.net

Website: www.eyeonretail.net