Archive for month: September, 2019

Fortune’s Most Powerful Women 2019 (McKenna #15, Barry #18, Campbell #20) Top 50 list

Forever 21 fashion chain files for Chapter 11 bankruptcy at AP. “…it will close up to 178 stores in the U.S. As of the bankruptcy filing, the company operated about 800 stores globally, including more than 500 stores in the U.S.  The company said it would focus on maximizing the value of its U.S. stores and shutter certain international locations. Forever 21 plans to close most of its locations in Asia and Europe but will continue operating in Mexico and Latin America.” Read more

Lenders give Barneys Oct. 3 deadline to find buyer, avoid liquidation by Lisa Fickenscher at NY Post. “There are at least two interested buyers who want to acquire the upscale retailer in its entirety, while others would be interested in its parts, according to Bloomberg. Licensing firm Authentic Brands Group, which owns Juicy Couture, is reportedly first in line to acquire Barneys’ intellectual property should the company be liquidated.” Read more

Chicagoland mall ‘terrorist’ did obsessive research before attack: prosecutors by Lee Brown at NY Post. “In the day before his attack, Garcia conducted 124 internet searches on Woodfield Mall in suburban Schaumburg, including the stores inside and street and aerial views, prosecutors said in Leighton Criminal Court on Sunday.” Read more

Have Online Reviews Lost All Value? by Rebecca Dolan at Wall Street Journal. “Chris McCabe, who evaluated seller performance while employed at Amazon and who now runs a consulting firm for its retailers, estimates the number of inauthentic reviews on the site to be around 30%.” WSJ subs.

Macy’s is closing its landmark downtown Seattle store in February by Nicole Brodeur at Seattle Times. “Said Laura Heydrich: “My first thought is, is it closing for the same reason Bartell’s is closing?” she asked. “The crime?”…“The homeless people outside deter you from coming in. I feel safer at home (shopping online).” Tiered subs.

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Eyeing That Sweater? It’s Yours in Four Easy Payments by AnnaMaria Andriotis & Peter Rudegeair at Wall Street Journal. “For Christmas, Ms. Padilla used Afterpay to buy $75 of videogame T-shirts for her 13-year-old son at Forever 21 and $60 of rock-themed tops for her toddlers. Without Afterpay, she said, “we would have definitely bought less.” WSJ subs.

Rent the Runway hits the pause button at CNBC. “Rent the Runway isn’t accepting any new subscribers or new event rentals at least until Oct. 15, as the clothing platform runs into a slew of inventory and supply chain issues and struggles to keep up with customers’ demands.” Read more

Dick’s Sporting Goods CEO Ed Stack’s new book is set to hit shelves on Oct. 8. at CNBC. “(Ed Stack) listed three primary reasons for wanting to share his thoughts with the world. One is, he wanted to help entrepreneurs…Second…he wanted to use the book to highlight what’s going on in youth sports nationwide…Lastly, and perhaps what really pushed Stack to finish his book, is the recent stance the CEO has taken on gun control…” Read more

Tony Rogers, Chief Member Officer of Sam’s Club is guest on CMO Moves podcast Listen

Asics apologizes for porn playing for hours above New Zealand store at BBC. “The content played on the store’s promotional outdoor screens above the entrance until staff arrived at 10am on Sunday to open the shop. The Japanese sports company said hackers had gained access to the system to show the explicit content.” Read more

CVS suspends sales of Zantac brand and generic heartburn drug during safety review at CNBC. Read more

Georgia Kroger’s newest security efforts include enclosed aisles of merchandise with one way in, and one way out at WGXA Fox 24 ABC. “Have you heard of theft being a problem here? Yes I have, I have, yeah, quite a bit,” says (one) shopper. Others say many people take things from shelves and use them in the bathroom without paying, but feel a less intimidating approach should be taken.” Video/Read more

Tipsheet Extra Stories

The Home Depot Foundation goes back to school

Harris Teeter hires autistic man laid off by Sam’s Club

Gatorade signs Zion Williamson to its endorsement roster

Mets fan knocked unconscious, nearly blinded by T-shirt cannon

LendingTree saw 184% more wedding loans in 2018 than 2017

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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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eBay CEO steps down as it continues to weigh selling off businesses at CNN. “Devin Wenig has stepped down as president and CEO…Scott Schenkel, a longtime eBay executive, will take over as interim CEO while the board conducts a search for a permanent replacement.” Read more

Best Buy CEO Corie Barry wants to ‘double down’ on its strategy at CNBC. “We’re the last consumer electronics retailer, and we offer unique advantages to both our vendors and our customers,” Barry said in an interview with CNBC. “If you’re going to hinge on a strategy that’s built around these unique customer relationships, I think you actually double down on it in times of … disruption.” Video/Read more

Target’s systems briefly go down for third glitch to hit shoppers in 3 months by Evan Ramstad at Star Tribune. “Target’s checkout registers, website and mobile app went offline for a short period Tuesday afternoon…As word of the outage spread around 3 p.m. Minnesota time, Target shoppers went on social media to report their experiences. Some said Target employees were handing out candy and coupons to the Starbucks outlets in their stores as customers waited.” Tiered subs.

Amazon launches on-demand healthcare clinic for Seattle-area employees by James Thorne at GeekWire. “Sick employees can sign into a mobile app to meet with a nurse practitioner in real-time through text or video. If the condition can’t be diagnosed or treated remotely, the employees can request that a clinician visit them at home or in the office…” Read more

At Home cancels CEO’s stock options — at his request by Maria Halkias at Dallas Morning News. “The 1,988,255 shares had an exercise price of $38.35 a share, which was the price of the stock when the options were granted, but the options were underwater…At Home’s share price has been on a decline over the last 18 months and closed on Tuesday at $9.49, down 23 cents.” Tiered subs.

Sheetz picks Pittsburgh for technology and innovation hub at KDKA 2 CBS Pittsburgh. “The hub will aim to turn Sheetz into a “one-stop-shop.” “Our mission at Sheetz is to create a business that puts the Sheetz as we know it today, out of business,” (said) Emily Sheetz, Sheetz’s AVP of Strategy” Read more

Working Mother Reveals the 100 Best Companies of 2019 – Johnson & Johnson #1 Unranked list

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Gap Inc. appoints Mary Beth Laughton as president and CEO of Athleta “Most recently, she was EVP of Omni retail for Sephora U.S. leading both the e-commerce and stores channels…Prior to that, Laughton spent nine years at Nike…” Press release

Nike Q1 revenue +7.0% Press release

Arby’s owner buys Jimmy John’s at CNBC. “Inspire Brands, backed by private equity firm Roark Capital Group, announced Wednesday it will acquire Jimmy John’s for an undisclosed amount. The chain has more than 2,800 locations.” Read more

Amazon unveils voice interoperability initiative with more than 30 companies – ‘a shot across Google’s bow’ by Taylor Soper at GeekWire. Read more

Anheuser Busch will sever its relationship with ‘Game Day’ attendee over racist tweets after fulfilling a public agreement to donate to a charity on his behalf at The Hill. Read more

Walmart plants pollination plots by Serenah McKay at Northwest Arkansas Democrat Gazette. “The test gardens are at Walmart stores in Oregon, Washington state and North Carolina, with an additional one at the retailer’s Bentonville headquarters. They were planted in April and May…” Pic/Read more

Tipsheet Extra Stories

Amazon acquires INLT to help sellers import goods to the U.S.

Mattel just launched a line of gender-neutral dolls

Food Network Partners With Amazon for Interactive OTT Cooking Platform ‘Kitchen’

Bonobos’ CEO: Here’s how Walmart has helped us.

Marshalls finally launches first online store

Shooting threat at ‘Joker’ premiere spurs warning from Army Criminal Investigation Command

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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: Put your product or service in front of the most powerful retail execs in the world, send advertising inquiries to info@eyeonretail.net

Website: eyeonretail.net

Water rescues begin as Imelda soaks east Texas at AP News. “Forecasters warned that Imelda could bring up to 35 inches (90 centimeters) of rain this week in some areas of Texas through Friday…“It’s bad. Homes that did not flood in Harvey are flooding now,” Jefferson County Judge Jeff Branick said.” Read more

Drop in online shopping knocks UK retail sales in August at Reuters. “Monthly retail sales volumes dipped by 0.2%, the Office for National Statistics said, compared with an average forecast for a flat reading in a Reuters poll of economists and the first fall in three months.” Read more

Impossible Foods will make its grocery store debut in California at CNBC. “The deal with Gelson’s marks Impossible’s first step into grocery. By mid-2020, the company plans to make its burger available in grocery stores in every region nationwide. The Impossible Burger will be available in East Coast grocery stores later this month.” Read more

@BradStone tweet: “at @PressClubDC to hear @JeffBezos talk about Amazon’s carbon footprint and sustainability efforts. Press conference starts at 10 a.m. EST.”

Tiffany Plans More China Stores as Tourist Spending Falls at Bloomberg. “…as the weak yuan deters Chinese consumers from spending overseas and they shift their luxury buying back home. Currency fluctuations have had “an influence on the intention of Chinese to buy abroad,” CEO Alessandro Bogliogo said in an interview with Bloomberg Television in Shanghai on Thursday.” Tiered subs.

Trader Joe’s named America’s #1 employer for new graduates in 2019 (Wegmans #19, H-E-B #23, Costco #43) at Forbes. Top 100 list

Casper launched its own version of CBD-infused gummies this week at CNBC. “Getting into the CBD market may seem like a gimmick timed to the first frenzy in the cannabis capitalism market, but Casper has been looking at the CBD market for years under the direction of its co-founder and chief strategy officer, Neil Parikh, who comes from a medical background and is a CBD user himself.” Read more

Field Agent: Inside Walmart’s new enhanced supercenter in Dallas, GA “Shopper reviews of the newly-upgraded supercenter were overwhelmingly positive. In fact, all four of our agents rated the store as “much better” than the traditional Walmart Supercenter format.” Pics/Read more

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As Benetton’s ‘Design Shift’ Boosts Sales, It Considers Opening U.S. Stores Again at Fortune. “United Colors of Benetton made a splash with its new collection showcasing experimental textiles and ecological materials inspired by the sea, presented Tuesday—on the eve of Milan Fashion Week—inside a 1930s-era swimming hall.” Read more

Berstein downgrades Costco, says memberships will be the first to go in an economic downturn at CNBC. “Fletcher also said investors are putting too much emphasis on Costco’s growth internationally. “Internationally, we think COST’s growth in China will go more slowly than most investors might expect,” he said.” Read more

The World’s Most Reputable Companies For Corporate Responsibility 2019 (IKEA #10, eBay #92) at Forbes. Top 100 list

Toys R Us partners with Candytopia to woo shoppers back with new experiences at CNBC. “The Toys R Us Adventure play areas will open in late October in Atlanta at Lenox Marketplace in Buckhead and in Chicago on North Michigan Ave….The experience will likely move to four spots next year, said Candytopia CEO Goodman. Like Candytopia, it will charge admission: $28 for adults, $20 for kids 4 through 12 and free for children under 12.” Read more

Mom’s jeans zipper gets stuck to the chain on the “lane closed” sign at Walmart at ABC KSAT 12. “I was standing there with 2 cashiers, 2 CSMs, and a stock boy, all trying to UNLODGE. MY. ZIPPER,” Guinn said. When nothing worked, they gave her the option of taking the chain and sign home with her, where her husband finally used a bolt cutter tool to solve the problem.” Pics/Read more

Tipsheet Extra Stories

Taylor Swift will only play in these two U.S. cities in 2020

Scientific breakthrough may eventually allow many blind people to see

The 10 highest paying companies in America

Tim Hortons pulling Beyond Meat products from all Canadian provinces but two

7-Eleven has the most vaping citations (by far) in Denver

Downtown Nashville’s first supermarket opening next month

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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: Put your product or service in front of the most powerful retail execs in the world, send advertising inquiries to info@eyeonretail.net

Website: eyeonretail.net

Amazon Changed Search Algorithm in Ways That Boost Its Own Products by Dana Mattioli at Wall Street Journal. “The Amazon search team’s view was that the profitability push violated the company’s principle of doing what is best for the customer, the people familiar with the project said. “This was definitely not a popular project,” said one. “The search engine should look for relevant items, not for more profitable items.” WSJ subs.

Holiday retail sales could climb 5% despite ‘unprecedented uncertainty’ at CNBC. “Holiday retail sales for 2019 are forecast to increase 4.5% to 5%, exceeding $1.1 trillion, according to an annual survey by Deloitte. That would be better than the Census Bureau data of sales growth of 3.1% on sales of $1.09 trillion from last November to January.” Read more

Walmart Likely Discriminated Against Female Store Workers, EEOC Finds by Sarah Nassauer at Wall Street Journal. “Walmart Inc. likely discriminated against 178 female workers by paying less or denying promotions because of their gender, the (EEOC) said in memos viewed by The Wall Street Journal. The EEOC documents ask Walmart and the women who filed complaints to come to “a just resolution of this matter,” which could include a settlement and changes to Walmart’s practices, say labor lawyers. If Walmart and the women don’t reach an agreement, the EEOC could file a lawsuit against the retailer.” WSJ subs.

US factory production rose at healthy pace in August – climbing 0.5% last month, after a 0.4% drop in July at AP. Read more

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BJ’s Wholesale Club Names Lee Delaney President “Delaney, currently Executive Vice President, Chief Commercial Officer, will lead BJ’s retail, e-commerce and membership operations in addition to his current responsibilities for merchandising, supply chain and marketing. He will continue to report to Christopher J. Baldwin, Chairman and Chief Executive Officer.” Press release

Walmart is bringing back trendy fashion brand Scoop in bid to juice its fashion business at CNBC. “Scoop shuttered all 16 of its stores in New York City three years ago…Walmart has attained the rights to the Scoop name and is relaunching the brand — but at more affordable price points…Everything will be available online starting Monday and in select Walmart stores early next year.” Read more

Marcus Lemonis, CEO of Camping World & Gander Outdoors, has donated six figures’ worth of financial contributions to flood-ravaged Grafton, IL despite having no prior connection to the community by Bryce Gray at St.Louis Post Dispatch. “He’s helped us out quite a bit,” said (Mayor) Eberlin…“We needed a tremendous amount of dumpsters and he footed the bill,” said Eberlin, listing one example of Lemonis’ assistance.” Read more

Crate & Barrel to Expand its In-Store Restaurant to Up to 15 Locations by Danielle Abril at Fortune. “…its first location near Chicago proved to be a hit this summer. “It was a win right out of the gate,” said Neela Montgomery, CEO of Crate & Barrel. “It was profitable in the second month.”…Almost all of the items in the restaurant are available for purchase on the storefront side of business.” Read more

Penney’s First Female CEO Says Her Turnaround Will Be the One to Work by Jordyn Holman at Bloomberg. “(Jill) Soltau joined the company last October with the stock in a free fall that has yet to reverse. During her second day on the job as the company’s first female chief executive officer, she commissioned a survey that came back with some telling findings: Customers are tied to their digital devices, they care about fashion and want to forge an emotional connection with the places they shop…” Tiered subs.

Macy’s Announces Transition of Bluemercury Founders Marla and Barry Beck “Barry Beck, Bluemercury’s chief operating officer, will step down effective September 20, 2019…Marla Beck, Bluemercury’s chief executive officer, will stay with Bluemercury and continue to lead the business during a transition period.” Press release

Amazon #7 in Hired’s ‘Brand Health Report’ on where tech talent wants to work by Kurt Schlosser at Geekwire. Top 15 Public & Private list

Former PepsiCo CEO Aims to Create a ‘Sisterhood’ of Women Leaders by Danielle Abril at Fortune. “Nooyi said her journey was “brutal,”…Many days, she said she had to fake a smile during her walk into work, or shut the door to her office to take 15 minutes to cry or scream. “When you’re a female, colored woman, immigrant serving as a CEO of a large company and undertaking a transformation, there are tons of critics,” she said.” Read more

Tipsheet Extra Stories

America’s 50 most promising artificial intelligence companies

7-Eleven named C-store 2019 Technology Leader of the Year

A Pioneering Peanut Allergy Treatment on the Horizon

How Michael Jordan & four other NBA owners launched a super-premium tequila

Walton Family Foundation announces UNICEF USA chief as new executive director

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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: Put your product or service in front of the most powerful retail execs in the world, send advertising inquiries to info@eyeonretail.net

Website: eyeonretail.net