Tipsheet: Kroger +1.5% | H.Depot +$50M to Train | WM Brazil $3B Back Taxes

 

Kroger Q4 Comp Sales (w/o gas) +1.5% “Excluding fuel, the 53rd week and the Modern Health merger, total sales increased 2.2% in 2017 compared to 2016.” Press release

 

Costco February Comp Sales +7.7% (w/o gas & FX) Press release

 

…Costco Outshines Other Discount Chains, But Concerns Linger by Matthew Boyle at Bloomberg. “…shares dipped more than 1 percent in late trading, a sign investors need more convincing in the wake of disappointing numbers from Walmart Inc., Target Corp. and — earlier on Wednesday — Dollar Tree Inc.” Read more

 

Home Depot to donate $50M to train construction workers by Paul Davidson at USA Today. “The Home Builders Institute (HBI) is training about 3,500 construction workers a year, says CEO John Courson. But the money, which comes from the Labor Department, states, and local workforce boards, is precarious, with HBI perennially scrambling to renew grants. The Home Depot program will increase the number of graduates who receive certificates by 2,000 a year for the next decade, or nearly 60%.” Read more

 

Burlington Q4 Comp Sales +5.9% Press release

 

Walmart Brazil ops bidders peg unit’s back taxes at up to $3 billion – sources at Reuters. “Buyout firms Advent International Corp, GP Investments Ltd and Acon Investments delivered non-binding offers for a majority stake in Walmart’s Brazil unit in late January and became aware of the unpaid tax bill while digging into the company’s books, the people said.” Read more

 

Rent-A-Center in talks with possible buyers, cuts 250 jobs at Reuters. “Rent-A-Center has been exploring strategic options since October last year. Its top management, including its chief executive, chairman and chief operating officer have all stepped down since then.” Read more

 

Abercrombie’s holiday comps rise for the first time in 5 years by Lisa Fickenscher at NY Post. “Total sales gained 15 percent in the period, ended Jan. 28, to $1.2 billion — led by Hollister’s 11 percent same-store gain.” Read more

 

…Abercrombie & Fitch to close 60 more stores at CNBC. “Last year, it closed nearly 40 stores…In 2016, it closed about 50 shops.” Read more

 

An inside look at Lowe’s digital marketing strategy by Zak Stambor at Internet Retailer. “The ads, which were Pinterest’s one-tap promoted pins that take a shopper who taps directly to your chosen landing page, generated a return on ad spend 76% greater than its goal. And, compared to averages from the same period a year earlier, the Shopping ads delivered a 20% higher click-through rate and a 43% lower cost per click.” Read more

 

**A message from BK Resources – Restaurant owners, plumbers & GCs need food service equipment – are they in your assortment? BK Resources is a leading supplier of stainless steel: commercial faucets, sinks, work tables, bar equipment, ice bins and more. Grab your fair share of this business! Catalog | Website | Custom/Sample requests

 

Cub will open its first small, urban concept grocery store in 2019 by John Ewoldt at Star Tribune. “The 46,000-square-foot store, about half the size of the largest Cub stores, is also the first to anchor a residential complex. “This store is unlike anything you’ll see in any Cub,” said Anne Dament, executive vice president of retail, marketing and private brands.” Read more (Tiered subs.)

 

Former Amazon executive Sam Hall joins Grubhub as its chief product officer by Katherine Davis at Chicago Business Journal. Read more

 

Casey’s Discloses Increased Value Creation Plan “Casey’s is establishing the following same-store sales expectations for FY 2021:

Fuel Gallons: 4+%
Grocery & Other Merchandise: 6+%
Prepared Food & Foundation: 10+%  Press release

 

Walmart U.S., will participate at the Bank of America Merrill Lynch 2018 Consumer & Retail Technology Conference on 3/14/18 Press release

 

EX-ETSY – Dollar General Names New VP of Investor Relations and Public Relations Press release

 

In China, retailers cash in on ‘she’ economy for Women’s Day at Reuters. “Across the globe, women are hosting workshops, protests and dinner parties to celebrate the women’s rights movement and press for progress on gender equality. But in China, the day was dominated by sales campaigns from online retailers, a trend that has angered women’s rights activists who want to reclaim the day as an opportunity to make progress on issues like combating sexual harassment.” Read more

 

Former REI CEO Sally Jewell will join the board of life insurance company Symetra by Ashley Stewart at Puget Sound Business Journal. Read more

 

Walmart CIO repackages IT service as a product by Clint Boulton at CIO. “Agile is fast; DevOps is faster. At Walmart, (Clay) Johnson says software developers in his staff of 10,000 IT workers are practicing DevOps, in which continuous integration and continuous delivery (CICD) methods enable enterprises to push out upgrades to software daily.” Read more (Registration)

 

Quebec retail sales up 6% in 2017 at Montreal Gazette. Read more

 

H&M to Work With South African Marketing Companies Following “Racist” Hoodie Scandal by Sam Reed at Hollywood Reporter. “In South Africa, the Economic Freedom Fighters — South Africa’s self-described “radical and militant” opposition party — launched widespread disruptive protests leading to the destruction of some H&M stores.” Read more

 

Solar panels catch fire on roof of Walmart store at Dayton Daily News. Video/Pics/Read more

 

Tipsheet Extra Stories

Axl Rose: “Tim Cook is the Donald Trump of the music industry”

Amazon thinks it has a fix to Alexa’s terrifying laughing issue

Walmart health executive George Riedl to depart

Ikea’s new CFO to maintain investment drive through 2020

Read Tipsheet Extra Stories

Alice Walton retakes top ‘Forbes’ spot as world’s richest woman

Read Tipsheet Extra Stories

 

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Eye on Retail Tipsheet is must-read material for 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

Tipsheet: D.Tree Miss | B.Pro/Sandy Hook Talk | Cornell @ CNBC | Amazon #3 Bank?

 

Dollar Tree Q4 Comp Sales +2.4% (Dollar Tree +3.8%, Family Dollar +1.0%) Press release

 

…Dollar Tree same-store sales, forecast disappoint; shares fall at Reuters. “Wall Street analysts had expected same-store sales at Family Dollar to rise 1.46 percent and 3.99 percent at Dollar Tree stores, according to Thomson Reuters I/B/E/S.” Read more

 

Bass Pro CEO Holds ‘Constructive’ Talk With Sandy Hook Families by Polly Mosendz at Bloomberg. “Bass Pro Shops…has emerged as one of the highest-profile national retailers that still sell (assault-style rifles).” Read more

 

Amazon offers discount Prime membership to Medicaid recipients at Reuters. “To qualify for the discounted $5.99 monthly Prime membership, customers must have a valid Electronic Benefits Transfer or Medicaid card and can renew it annually for up to four years, the company said.” Read more

 

Target to offer free two-day delivery for Redcard holders or $35 orders by Kavita Kumar at Star Tribune. “In addition to the proliferation of delivery options, Cornell also said Target will raise the minimum wage for its store workers to $12 an hour this spring.” Read more (Tiered subs.)

 

…Brian Cornell Interviewed Yesterday @ CNBC 2:27 video | Transcript

 

…Target told employees they could wear jeans on the weekends if same-store sales grew at CNBC. “Expect to see a lot more denim,” CEO Brian Cornell told analysts and investors Tuesday during the retailer’s annual meeting with the financial community.” Read more

 

Ross Stores Q4 Comp Sales +5.0% Press release

 

Walmart CFO Brett Biggs spoke Tuesday at the Raymond James Conference by Kim Souza at Talk Business. “Biggs said Walmart remains focused on its cost-discipline agenda. He said the Everyday Low-Cost initiative is part of Walmart’s DNA and while in recent years it wasn’t as dominant, there is a renewed focus on EDLC around the company.” Read more | Transcript via Seeking Alpha

 

Casey’s Q3 Comp Sales: Fuel +3.8%; Grocery/Merch +2.5%; Prepared Food/Fountain +1.7% Press release

 

**A message from ReadyStrainer – Sink full of dirty dishes and need to drain noodles? The ReadyStrainer sits at the side of the sink and directs water into the sink! Avoid contact with dirty dishes and bacteria. Product Overview | Website | Sample: info@shiftmarketinggroup.net

 

Amazon could become the third-biggest US bank if it wants to: Bain study at CNBC. “We could imagine Amazon’s banking services growing to more than 70 million U.S. consumer relationships over the next five years or so — the same as Wells Fargo, the third-largest bank in the US.,” wrote Bain’s Gerard du Toit and Aaron Cheris.” Read more

 

Walmart is about to open a technology research center in Plano’s Granite Park by Maria Halkias & Melissa Repko at Dallas Morning News. “Walmart spokeswoman Anne Hatfield said the Plano office is similar to one that opened in February in Austin. Each one will employ 50 to 60 people by the end of this year.” Read more (Tiered subs.)

 

Forbes Billionaires 2018 (Bezos #1) List

 

Could This Be the Worst Spring in Years for Home Sales? by Laura Kusisto at Wall Street Journal. “Lawrence Yun, chief economist at the National Association of Realtors, said he expects sales to be flat this spring from a year earlier. Roughly 2.06 million homes were sold between March and June 2017, up from about 2 million in the same period a year earlier, according to the National Association of Realtors.” Read more (Subs.)

 

Amazon Canada ad manager says ‘secret sauce’ to success is a customer-first focus by Lisa Wright at Toronto Star. “We don’t make money when we sell things, we make money when we help customers make purchase decisions,” he noted.” Read more

 

Dick’s Sporting Goods and Walmart See Lift in Perception After Altering Gun Sale Policies by Katie Richards at Adweek. “While 7 percent of consumers were talking about (Dick’s) on Feb. 28, 25 percent were talking about the brand (either in person or online) over this past weekend. “Walmart’s rise in perception was mainly fueled by Democrats and independents, while Republican perception dipped mildly,” the report from YouGov noted.” Read more

 

Two private equity firms plan to buy CommerceHub for $1.1 billion by April Berthene at Internet Retailer. Read more

 

Gulden Mesara has joined Walgreens as VP of U.S. communications by Alison Kanski at PR Week. “Prior to joining Walgreens, Mesara spent more than five years at AbbVie, most recently as VP of global health and commercial communications.” Read more (Tiered subs.)

 

Target Q4 Earnings Call Transcript at Seeking Alpha. Read more

 

Airbnb hires former head of Amazon Prime to run its core business at Recode. “(Greg Greeley) never did rise to Jeff Bezos’s most-senior executive level of senior vice president. He was recently expected to start overseeing Whole Foods’ integration into the Amazon Prime program, but never ended up serving in that role.” Read more

 

Home Depot Presents at Raymond James Institutional Investors Conference at Seeking Alpha. Transcript

 

Sam Walton would turn 100 years old on March 29 Walmart Museum has planned a Centennial exhibition for downtown Bentonville on April 6 by Jennifer Joyner at Talk Business. Read more

 

Barneys New York Announces Mantle, a Virtual Reality Experience Press release

 

The Best Men’s Underwear for Your Budget: We Tested 45 Kinds by Jacob Gallagher at Wall Street Journal. Read more (Subs.)

 

Tipsheet Extra Stories

Family purchases, eats decades-old cereal bought from Walmart

FBI paid Geek Squad staff to be informants, documents show

Overstock.com’s CEO Thinks Crypto Can Replace Wall Street

Coca-Cola plans to launch its first alcoholic drink

Loblaw adds cricket powder to President’s Choice line

Yes, Those Are Probably Bugs In Your Paprika. 

Read Tipsheet Extra Stories

 

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Eye on Retail Tipsheet is must-read material for 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

Tipsheet: Speaker Ryan @ H.Depot | Target +3.6% | Mega Costco DC Australia

 

Target Q4 Comp Sales +3.6% “Traffic grew 3.2 percent in the fourth quarter…comp digital channel sales increased 29 percent contributing 1.8 percentage points of comparable growth…healthy comp sales growth across all five of its core merchandise categories.” Press release

 

…Target shares drop on profit miss, wage hikes offset sales gains at CNBC. “Actual vs. expected: Adjusted earnings per share: $1.37 vs. $1.38 expected. Revenue: $22.8 billion vs. $22.5 billion. Same-store sales: 3.6 percent growth vs. an increase of 3.1 percent.” Read more

 

U.S. clothing, cosmetics on possible EU retaliation list at Reuters. “(The EU) has drawn up a list of 2.8 billion euros ($3.46 billion) worth of U.S. products on which it could apply a 25% tariff. Commission President Jean-Claude Juncker said on Friday those products included Harley Davidson motorcycles, bourbon and Levi jeans.” Read more

 

Trump administration backs states’ bid to collect online sales taxes at CNBC. Read more

 

Amazon is bringing free Whole Foods delivery to Prime members in San Francisco and Atlanta by Jason Del Rey at Recode. Read more

 

GameStop announces death of former CEO Paul Raines by Korri Kezar at Dallas Business Journal. “Raines resigned from the Grapevine retailer’s top role in November due to “a reoccurrence of his previously disclosed medical issue.” Read more

 

House Speaker Paul Ryan to visit Home Depot’s Atlanta HQ this Thursday by David Allison at Atlanta Business Chronicle. “During his visit, Ryan will observe a product demo, participate in an employee town hall, and hold a press conference, according to a statement from his office.” Read more

 

CVS readies $44 Billion bond sale – Largest corporate bond sale in more than two years will help it pay for $69 billion acquisition of Aetna by Matt Wirz at Wall Street Journal. Read more (subs.) | Bloomberg article

 

**A message from Kidibul – The festive, bubbly beverage made for kids’ parties! Wildly popular European beverage now available in the US for the first time. 100% natural & sparkling juice in a champagne type bottle with natural cork & wire to pop. Great for birthdays, New Year, Christmas, etc. Kids love the bubbles! Website | PowerPoint | Samples: info@eyeonretail.net

 

Nordstrom’s Spurned $50-a-Share Bid Sends Family Scrambling by Lindsey Rupp at Bloomberg. Read more

 

Lowe’s scores a 104% higher conversion rate when customers interact with 3-D objects in its app compared to those who didn’t by Ann-Marie Alcantara at Adweek. Read more

 

As of March 2, 2018, Rite Aid has transferred 1,651 stores and related assets to Walgreens…Walgreens will purchase a total of 1,932 stores Press release

 

Toronto home sales plummet 35% as new mortgage rules bite by Naomi Powell at Financial Post. “Prices tumbled too, down more than 12% from a year ago.” Read more (Tiered subs.)

 

Tower Records Founder Russ Solomon Dies at 92 at Variety. “The deep impact of Solomon’s vision on music retailing was captured in the elegiac 2015 documentary “All Things Must Pass,” produced by Colin Hanks, which featured Solomon and other Tower execs.” Read more

 

Rare peak inside Mars Inc’s McClean headquarters by Robert J. Terry at Washington Business Journal. 20 pics/Read more

 

Chico’s Makes NAFE’s Top 10 List of Best Companies for Executive Women by Lisa Lockwood at WWD. “In addition to Chico’s, the NAFE Top 10 Companies for 2018 are L’Oréal, Procter & Gamble, Accenture, Deloitte, Ernst & Young LLP, FleishmanHillard, IBM, JLL and Marriott International.” Read more

 

New Costco warehouse to bring 1000 jobs to Western Sydney by Laura Tunstall at News 9. “Costco will open its 10th store in Australia this year, but the new distribution centre will have the capacity to supply 30 stores. It will also service the company’s new online store, which is expected to be up and running next year.” Video/Read more

 

Sears Canada shareholder payments to be reviewed via Toronto Star. “Superior Court has appointed a litigation investigator to review $3 billion in payments made to Sears Canada shareholders, while the company’s pension fund had a nearly $300 million shortfall.” Read more

 

Tipsheet Extra Stories

Ex-Food Network star says delivery apps killing restaurants

6,000 Dogs ‘Work’ at Amazon, Company Reports

Oregon man, 20, sues Dick’s and Walmart for raising the age on rifle sales

Can You Imagine A Supermarket With No Plastic?

MoviePass CEO proudly says app tracks your location before and after movies

Alligator captured wandering Target parking lot

Read Tipsheet Extra Stories

 

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Eye on Retail Tipsheet is must-read material for 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

Tipsheet: Speaker Ryan @ H.Depot | Target +3.6% | Mega Costco DC Australia

 

Target Q4 Comp Sales +3.6% “Traffic grew 3.2 percent in the fourth quarter…comp digital channel sales increased 29 percent contributing 1.8 percentage points of comparable growth…healthy comp sales growth across all five of its core merchandise categories.” Press release

 

…Target shares drop on profit miss, wage hikes offset sales gains at CNBC. “Actual vs. expected: Adjusted earnings per share: $1.37 vs. $1.38 expected. Revenue: $22.8 billion vs. $22.5 billion. Same-store sales: 3.6 percent growth vs. an increase of 3.1 percent.” Read more

 

U.S. clothing, cosmetics on possible EU retaliation list at Reuters. “(The EU) has drawn up a list of 2.8 billion euros ($3.46 billion) worth of U.S. products on which it could apply a 25% tariff. Commission President Jean-Claude Juncker said on Friday those products included Harley Davidson motorcycles, bourbon and Levi jeans.” Read more

 

Trump administration backs states’ bid to collect online sales taxes at CNBC. Read more

 

Amazon is bringing free Whole Foods delivery to Prime members in San Francisco and Atlanta by Jason Del Rey at Recode. Read more

 

GameStop announces death of former CEO Paul Raines by Korri Kezar at Dallas Business Journal. “Raines resigned from the Grapevine retailer’s top role in November due to “a reoccurrence of his previously disclosed medical issue.” Read more

 

House Speaker Paul Ryan to visit Home Depot’s Atlanta HQ this Thursday by David Allison at Atlanta Business Chronicle. “During his visit, Ryan will observe a product demo, participate in an employee town hall, and hold a press conference, according to a statement from his office.” Read more

 

CVS readies $44 Billion bond sale – Largest corporate bond sale in more than two years will help it pay for $69 billion acquisition of Aetna by Matt Wirz at Wall Street Journal. Read more (subs.) | Bloomberg article

 

**A message from Kidibul – The festive, bubbly beverage made for kids’ parties! Wildly popular European beverage now available in the US for the first time. 100% natural & sparkling juice in a champagne type bottle with natural cork & wire to pop. Great for birthdays, New Year, Christmas, etc. Kids love the bubbles! Website | PowerPoint | Samples: info@eyeonretail.net

 

Nordstrom’s Spurned $50-a-Share Bid Sends Family Scrambling by Lindsey Rupp at Bloomberg. Read more

 

Lowe’s scores a 104% higher conversion rate when customers interact with 3-D objects in its app compared to those who didn’t by Ann-Marie Alcantara at Adweek. Read more

 

As of March 2, 2018, Rite Aid has transferred 1,651 stores and related assets to Walgreens…Walgreens will purchase a total of 1,932 stores Press release

 

Toronto home sales plummet 35% as new mortgage rules bite by Naomi Powell at Financial Post. “Prices tumbled too, down more than 12% from a year ago.” Read more (Tiered subs.)

 

Tower Records Founder Russ Solomon Dies at 92 at Variety. “The deep impact of Solomon’s vision on music retailing was captured in the elegiac 2015 documentary “All Things Must Pass,” produced by Colin Hanks, which featured Solomon and other Tower execs.” Read more

 

Rare peak inside Mars Inc’s McClean headquarters by Robert J. Terry at Washington Business Journal. 20 pics/Read more

 

Chico’s Makes NAFE’s Top 10 List of Best Companies for Executive Women by Lisa Lockwood at WWD. “In addition to Chico’s, the NAFE Top 10 Companies for 2018 are L’Oréal, Procter & Gamble, Accenture, Deloitte, Ernst & Young LLP, FleishmanHillard, IBM, JLL and Marriott International.” Read more

 

New Costco warehouse to bring 1000 jobs to Western Sydney by Laura Tunstall at News 9. “Costco will open its 10th store in Australia this year, but the new distribution centre will have the capacity to supply 30 stores. It will also service the company’s new online store, which is expected to be up and running next year.” Video/Read more

 

Sears Canada shareholder payments to be reviewed via Toronto Star. “Superior Court has appointed a litigation investigator to review $3 billion in payments made to Sears Canada shareholders, while the company’s pension fund had a nearly $300 million shortfall.” Read more

 

Tipsheet Extra Stories

Ex-Food Network star says delivery apps killing restaurants

6,000 Dogs ‘Work’ at Amazon, Company Reports

Oregon man, 20, sues Dick’s and Walmart for raising the age on rifle sales

Can You Imagine A Supermarket With No Plastic?

MoviePass CEO proudly says app tracks your location before and after movies

Alligator captured wandering Target parking lot

Read Tipsheet Extra Stories

 

**

Eye on Retail Tipsheet is must-read material for 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

Tipsheet: Amazon Checking Account? | Target Nursing Rooms | Sam’s Pushes Nielsen

 

Amazon looks to offer checking accounts for customers via JP Morgan, other banks: WSJ via CNBC. “The underlying goal is to further grow its Prime membership through cross-selling into existing J.P. Morgan customers and this could lead to more initiatives down the road,” Dan Ives, chief strategy officer and head of technology research at GBH Insights, told CNBC in an email.” Read more | WSJ article (subs.)

 

Target spending $250 million to remodel 28 Twin Cities stores in 2018 by Kavita Kumar at Star Tribune. “And, after testing the concept last year, remodeled Target stores this year will feature a nursing room to better cater to one of its key demographics: young families.” Read more (tiered subs.)

 

Sam’s Club asks suppliers to buy into new data platform from Nielsen by Kim Souza at Talk Business. “Sam’s Club suppliers received an email Saturday (March 2) outlining the retailer’s new partnership with Nielsen and cloud-based analytics firm 1010data to create a Member Analysis, Data Reporting & Insights Domain (MADRID) aimed at expediting valuable sales insights. MADRID will help suppliers and buyers better monitor product performance within Sam’s Club, the memo said.” Read more

 

Lines wrap around San Antonio H-E-B locations for Selena bags by Madalyn Mendoza & Joshua Fechter at My San Antonio. “The frenzy stirred up entrepreneurial spirits in some, who quickly listed the totes on eBay. Some auctions offered the $2 recyclable totes for more than $100.” Read more/Pics

 

Walmart Threatens Restaurant Chains With Prepared Meals by Matthew Boyle at Bloomberg. “Ten different meals are now available in 250 stores, and the program will expand to 2,000 locations by year’s end, Walmart executives said in an interview. The company also is introducing four $15 meal-kit options in stores, expanding a business that had previously only been offered online through outside vendors.” Read more

 

Mayor De Blasio renews call for New York plastic bag ban: ‘The state is behind the curve here’ by Erin Durkin at NY Daily News. “We need to ban plastic bags — the time for debate on this is over. They’re bad for the environment, they’re bad for the economy, they’re bad for New York,” the mayor wrote Sunday in a tweet.” Read more

 

**A message from Real Coconut Water: Leading coconut water supplier for 15+ years – branded & PL. Organic & Natural options available. Sell sheet | Website | Request samples: info@eyeonretail.net

 

Former Starbucks Chief to Help Fuse Albertsons, Rite Aid by Heather Haddon at Wall Street Journal. “Executives of the new company Monday named Jim Donald their president and chief operating officer.” Read more (subs.)

 

Oscars 2018: Full List Of Winners at Forbes. List

 

Your Location Data Is Being Sold—Often Without Your Knowledge by Christopher Mims at Wall Street Journal. “There might never be a breach of our location data. But given the drumbeat of hacks of both companies and governments, it’s hard to believe hackers aren’t at least trying to compromise such a high-value target.” Read more (subs.)

 

Walmart Got Dee Rees, Melissa McCarthy and Nancy Meyers to Direct Short Films for the Oscars by Kristina Monllos at Adweek. “This is the second year Walmart has worked with directors to create short films to air during the Oscars.” See the spots/Read more

 

JC Penney is still betting on beauty to fuel its turnaround at CNBC. “(JCP) said its fine jewelry, hair salon and Sephora businesses all saw comps above the company average during the holiday period.” Read more

 

“IT’S CHEAPER THAN COSTCO” – Can this Boston grocery store change the way we eat? by Janelle Nanos at Boston Globe. “It was a difficult start. For a while, the entire operation felt like an episode of “Chopped”  as Samad had no idea what would be coming off the trucks each day. “How do you create a system around uncertainty?” Samad said. He’d triage whatever would arrive, picking through bruised produce, stocking things in freezers, and prepping meals to be purchased that day.” Read more (tiered subs.)

 

The Design Theory Behind Amazon’s $5.6 Billion Success by Jason Brush at Fast Company. “Amazon’s success brings into relief a principle that is sometimes hard to swallow in the design community: Successful design is not necessarily beautiful.” Read more

 

Target’s Techstars and Takeoff Accelerator Programs Now Accepting Applications at A Bullseye View. Read more

 

Girl, 2, dies after a full-length mirror fell off the wall and fell on her head at a Payless Shoe store by Abigail Miller at Daily Mail. “The toddler was trying on shoes when the mirror fell, and was pronounced dead at the hospital. Police have said the death appears to be an accident.” Read more

 

Tipsheet Extra Stories

America’s 100 Richest Places

Labor department could change how tips are handed out

Another small business complains of counterfeiters on Amazon

A Tour Of The World’s Coolest Supergraphics

TreeHouse Foods names former Smucker Co. exec Steve Oakland CEO

Read Tipsheet Extra Stories

 

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Eye on Retail Tipsheet is must-read material for 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

Tipsheet: JCP +2.6% | F.Locker -3.7% | BuzzFeed WM Buddy | Publix +3.2%

 

Amazon, Walmart and Target squeeze grocery chains on price by Jason Del Rey at Recode. “Across a selection of 15 of the most searched-for grocery items on Basket, Walmart’s prices were 16 percent cheaper than regional and local grocers on average during a recent February week. Prices at Target and Amazon Fresh were 13 percent and 4 percent cheaper, respectively.” Chart/Read more

 

JCPenney Q4 Comp Sales +2.6% Press release

 

…JCPenney’s stock tumbles on revenue miss for the holiday quarter at CNBC. “In 2018, we will intensify our market share efforts in Appliances, Mattresses and Furniture, while continuing to take steps to modernize our apparel assortment and omni-channel,” CEO Marvin Ellison said in a statement.” Read more

 

…JCPenney lays off employees at its Plano headquarters by Maria Halkias at Dallas Morning News. “The retailer confirmed that cuts have been made, but declined to give specific details. A spokesman said there will be more information after the company reports fourth quarter results Friday morning.” Read more (tiered subs.)

 

Gap Q4 Comp Sales +5.0% (vs. 1.7% expected): Old Navy Global +9.0%, Gap Global flat, Banana Republic Global +1.0% Press release

 

…Gap shares soar on earnings beat at CNBC. “Its shares popped more than 10 percent in after-hours trading on the news. Revenue: $4.78 billion vs. $4.67 billion expected. Comp sales: up 5 percent vs. growth of 1.7 percent expected.” Read more

 

Nordstrom Q4 Comp Sales +2.6% Press release

 

…Nordstrom stock tumbles after earnings miss expectations at CNBC. “Nordstrom reported net earnings for the quarter of $151 million, down from $201 million the same quarter the year prior…It attributed its weaker earnings to pre-opening costs associated with men’s flagship in New York, as well as other Nordstrom Racks.” Read more

 

Publix Q4 Comp Sales +3.2% Press release

 

**A message from 2018 Sweets & Snacks Expo – Be first to market with the newest candy and snack products!  See the 2017 Innovation Winners. Put yourself in the center of the single largest gathering of confectionery & snack companies under one roof – schedule your trip now! Chicago, May 22-24, 2018. Website | Exhibitors

 

Lowe’s Names 3 New Creative Agency Partners in Unique Regional Realignment by Patrick Coffee at Adweek. “Lowe’s has announced its new creative agency roster after ending a 12-year relationship with BBDO and abandoning the agency of record model. As Adweek’s AgencySpy reported in January, the three agencies are located in very distinct regions of the country: Conill in Los Angeles, Via Agency of Maine and South Carolina’s EP+Co.” Read more

 

Barnes & Noble Q3 Comp Sales -5.8% Press release

 

Nordstrom’s Biggest Bet Ever by Christina Binkley at Wall Street Journal. “In a rented warehouse in the Seattle suburbs, Nordstrom Inc.executives have built a life-size mock-up of each floor of their latest men’s department store. It is furnished with a blend of actual shelving and dummy plywood tables, creating a surreal retail theater 45 minutes from Nordstrom’s downtown headquarters. The real thing is set to open in New York City in April, on Broadway between 57th and 58th streets…” Read more (subs.)

 

Floor & Decor Q4 Comp Sales +24.4% Press release

 

Harvard Business Review: Why Walmart Expanded Parental Leave by Sarah Green Carmichael Read more

 

BuzzFeed has a new business model, so it’s selling its own line of kitchen tools at Walmart by Peter Kafka at Recode. “The idea: Walmart benefits because BuzzFeed will use its extensive online reach to drive consumers to its stores and digital properties; BuzzFeed will benefit by getting a piece of the retail sales, plus a deeper relationship with a powerful partner.” Read more

 

Foot Locker Q4 Comp Sales -3.7% Press release

 

Overstock CEO on SEC probe: ‘It’s great that they’re doing this’ by Matthew Kazin at Fox Business. Read more

 

Decision deadline for Cabela’s HQ employees by Paige Yowell at Omaha World-Herald. “Two weeks ago, Cabela’s employees in Sidney, Nebraska, were given a choice: quit now and take a bonus, or stay on with the company and test your fate. Thursday was the deadline for employees to make that decision…Bass Pro didn’t yet know how many employees had accepted the buyout offer.” Read more

 

L.L. Bean raises minimum age for gun purchases to 21 at CNN Money. Read more

 

REI temporarily halts sale of products made by gun maker Vista Outdoor at CNBC. “REI, which does not sell guns, said it paused selling Vista products like its Camelbak water bottles and Camp Chef stoves. In addition to the sporting goods products it sells in REI, Vista also makes rifles under its Savage Arms brand.” Read more

 

Tipsheet Extra Stories

Walmart Wants To Sell The Freshest Produce, And It’s Using iPhones To Do It

iHeartRadio Prepares for Bankruptcy as Soon as This Weekend

Graco Is Recalling a Highchair Sold at Walmart After Reports of Child Injuries

Even Pink sales are sagging for Victoria’s Secret

Nordstrom will no longer report its online and in-store sales separately

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Eye on Retail Tipsheet is must-read material for 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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Tipsheet: Kohl’s/Aldi Team | Kroger Gun Decision | B.Buy+9% | HBC/Neiman ‘Whispers’

 

Kohl’s to bring discount grocer Aldi into its stores in pilot test at CNBC. “…into as many as 10 of its stores later this year in a pilot test…Meanwhile, Kohl’s is looking to deepen its relationship with Amazon…Mansell: “We’ve had initial discussions with Amazon about how and where we will expand the pilot, and we’ll share the details on that when they’re finalized.” Read more

 

Best Buy Q4 Comp Sales +9.0% Press release

 

…Best Buy same-store sales surge, tops 4Q expectations at Fox Business. “That’s a big turnaround from a year earlier when the figure dipped 0.9 percent for the consumer electronics retailer. Chief Financial Officer Corie Barry said in a statement that Best Buy was able to benefit from several factors, including the hardships of some of its competitors.” Read more

 

Kohl’s Q4 Comp Sales +6.3%” Read more

 

…Kohl’s strong holiday sales fuel big earnings beat at CNBC. “Earnings per share: $1.99, adjusted, vs. $1.77 estimated. Revenue: $6.78 billion vs. $6.74 billion. Same-store sales: growth of 6.3 percent vs. 5.7 percent.” Read more

 

Kroger stops selling guns to buyers under 21 at Fred Meyer stores at CNBC. Read more

 

Walmart Raises Age to Buy Firearms and Ammunition to 21 at Fortune. “…(Walmart) stopped selling the AR-15 and other rifles in 2015 and doesn’t sell handguns except in Alaska. Walmart also does not sell accessories such as bump stocks and high-capacity magazines.” Read more

 

Overstock.com drops 10% after revealing SEC investigation into cryptocurrency token sale at CNBC. Read more

 

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Best Buy plans to shut 250 small U.S. mobile phone stores by Nandita Bose at Reuters. “The stores, which contributed just over 1 percent to the company’s overall revenue and 1 percent to its overall square footage, will be shut effective May 31.” Read more

 

Trump Expected to Announce Stiff Steel, Aluminum Tariffs at Bloomberg. “Trump told aides he wants to announce tariffs of 25 percent on steel and 10 percent on aluminum from all countries, according to two people who asked not to be identified because the deliberations aren’t public.” Read more

 

Nordstrom’s financial issues are making it tough to go private by Josh Kosman & Lisa Fickenscher at NY Post. “The odds today of a successful go-private are no greater than 50/50, according to one source close to the situation. “They are struggling to get traditional financing,” a lending source said. “Banks continue to balk about lending them all the money they need, leaving Leonard Green in a pickle.” Read more

 

Nordstrom co-President Erik Nordstrom speaking at Code Commerce at Shoptalk on March 20, 2018 at Recode. Read more

 

Hunter and Target Team Up on New Design Partnership at A Bullseye View. “(Target is) teaming up with British heritage brand Hunter to bring exclusive versions of their iconic rain boots, protective outerwear, backpacks to Target starting Saturday, April 14.” Mark Tritton Q&A

 

Burberry Appoints New Chief Creative Officer Replacing Christopher Bailey at Hollywood Reporter. Read more

 

Whispers of Talks Between Hudson’s Bay and Neiman Marcus at WWD. “Rumors are swirling among multiple sources that Saks parent Hudson Bay Co. and Neiman Marcus Group have recently held at least informal talks about a possible merger.” Read more (subs.)

 

Lowe’s Q4 Earnings Call Transcript at Seeking Alpha. Read more

 

For the Cosmetics Industry, a Regulatory Makeover Awaits by Thomas M. Burton at Wall Street Journal. “Senate staffers from both parties have reached a tentative agreement to stiffen oversight of safety standards for beauty products including skin creams, deodorants, hair dyes, shampoo and mascara…” Read more (subs.)

 

Tipsheet Extra Stories

Pharmacy is sentenced in conspiracy to boost racehorses’ performance

Bon Jovi and son launch new wine at Versace mansion

Ikea recalling marshmallow candy due to possible infestation of mice

WinCo to Enter Montana?

China censors Winnie the Pooh social media posts amid Xi criticism

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Eye on Retail Tipsheet is must-read material for 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