WM Outage | B.Buy -4.8% | Target #91 Sustainable


Best Buy Q4 comp sales down 4.8% “Bilunas (CFO): “For Q1 FY25, we expect comparable sales to decline by approximately 5% and our non-GAAP operating income rate to be approximately 3.4%, which is flat to Q1 FY24.” Press release


…Best Buy tops holiday quarter estimates but issues soft full-year guidance at CNBC. “Q4: Earnings per share: $2.72, adjusted vs. $2.52 expected. Revenue: $14.65 billion vs. $14.56 billion expected.” Read more


Walmart Computer Glitch Halts Sales and Returns at Stores at WSJ. “The outage began to affect stores Wednesday morning, rendering some registers inoperable, according to store workers and people familiar with the situation. The problem continued to roil hundreds of stores hours later as the retailer worked on technical fixes for the system. The issue has since been resolved…” WSJ subs.


Bath & Body Works Q4 net sales up 0.8% Press release


Rent the Runway’s Plan for Regrowth Starts With a New Marketing Chief at WSJ. “The fashion rental service on Wednesday named Natalie McGrath as its chief marketing officer, establishing a dedicated marketing leader role for the first time in years. McGrath…had been vice president of marketing at payment company Afterpay…” WSJ subs.


Birkenstock beats holiday quarter revenue expectations with 22% year-on-year jump at CNBC


Jim ‘Mattress Mack’ McIngvale places $1M wager on Houston to win March Madness at Fox Business. “If the Cougars win the tournament, McIngvale’s earnings will help fund the latest Gallery Furniture promotion. The promotion states that customers will receive a refund if they purchase a Tempur-Pedic mattress and adjustable base priced at $4,000 or more and Houston wins the national title.” Read more


TJX Companies, Inc. Q4 consolidated comp store sales increased 5%

…Marmaxx +5% / HomeGoods +7% / TJX Canada +6% / TJX Int’l +3% Press release


What is ‘ungraded’ beef? Label at Loblaw-owned grocery store sparks confusion among shoppers at Toronto Star. “Recent reports that Loblaws is selling “ungraded Mexican beef” has prompted some confused shoppers to raise concerns…”My hubby went shopping and didn’t notice the ungraded,” she wrote. “If I had been blindfolded I would not have known what kind of meat I was eating. It was disgusting.” Read more


Advance Auto Parts Q4 comp sales down 1.4% Press release


This ‘Amazon’s Choice’ video doorbell could let just about anyone spy on you at The Verge. “Amazon didn’t even respond to Consumer Reports findings last we’d heard, much less pull the cameras off its virtual shelves…Shopping app Temu, at least, told CR it would halt sales after hearing just how incredibly easy they are to hack.” Read more


Barron’s 100 Most Sustainable U.S. Companies 2024: Best Buy #11 / Kroger #27 / Walmart #61 / Lowe’s #72 / TJX #89 / Target #91 Read more


FOX5 rides along with Henderson, Nev. police on retail theft blitz operation at KVVU-TV. “Although Det. McGeahy says most suspects will give up once police make contact, sometimes, these interactions can get violent. “We’ve had some in the past, they’ve had guns, they’ve had pepper spray, we actually had a group that was using tasers,” said Det. McGeahy…The one-day blitz resulted in 17 arrests.” Read more


6 Hottest Food Trends at UNFI’s Orlando Show at Progressive Grocer. “More than 6,000 retailers, suppliers and trend-watchers attended the United Natural Foods Inc. Spring and Summer Selling Show this month in Orlando, Fla., and one thing is for certain: Banana water is the new coconut water.” Read more


Wonder, Marc Lore’s $3.5 Billion Startup, Has Launched a Food Hall in Walmart at Inc. “The New York City-based food business’s 11th location–inside a Quakertown, Pennsylvania, Walmart–marks the start of its relationship with (Walmart)…The location will offer menu items from eight restaurants through Wonder’s quick-prep model.” Read more


In delicate China play, Reckitt turns to livestreaming to sell condoms at Reuters. “There is no clear definition of what vulgar content is – that’s up to the regulator to decide and the system is quite socially conservative,” said Kendra Schaefer, head of tech policy at China-focused research firm Trivium.” Read more


***Advertising inquiries, new product searches, comments, questions, etc., contact Jason Long at jlong@eyeonretail.net



Lowe’s -6.2% | Walton +$1.5B | Macy’s -150 | Khan +1


Lowe’s Q4 comp sales down 6.2% Press release


…Lowe’s beats earnings estimates – company expects revenue to slide again this year at CNBC. “Q4: Earnings per share: $1.77 vs. $1.68 expected. Revenue: $18.60 billion vs. $18.45 billion expected.” Read more


US sues to block merger of Kroger and Albertsons at AP News. “Together, Kroger and Albertsons would control around 13% of the U.S. grocery market; Walmart controls 22%, according to J.P. Morgan analyst Ken Goldman.” Press release


…The FTC’s Grocery Gift to Walmart and Amazon at WSJ. “FTC Chair Lina Khan rewrote the FTC’s longstanding merger guidelines to consider how deals would affect workers and labor-market competition. This is a radical departure from modern antitrust law, which emphasizes consumer welfare. Monopolies that are shielded from competition are usually good for workers, even if they hurt consumers.” WSJ subs.


Macy’s to close 150 stores / To open ~ 15 new Bloomingdale’s & 30 new Bluemercury stores Press release


Macy’s, Inc. Q4 comp sales down 5.4%:

…Comps: Macy’s down 6.0% / Bloomingdale’s down 1.5% / Bluemercury up 1.5% Press release


Dillard’s Q4 comp sales down 5% / Net income down 13.3% Press release


UK finance minister held talks with Shein chair about London IPO at Reuters. “The initial public offering by Shein…could be the London Stock Exchange’s second largest in history…A listing by Shein could be seen as a coup for Britain, which has struggled to attract IPOs…” Read more


Walton Family Sells $1.5 Billion of Walmart Stock After Jump at Yahoo


Family Dollar to pay $42 million for shipping food from rat-infested warehouse to stores at CBS. “Nearly 1,300 rodents were exterminated and the company on Feb. 18, 2022, launched a massive recall of products sold by 404 stores serviced by the warehouse.” Read more


Walgreens Boots Alliance Names Lanesha Minnix EVP and Global Chief Legal Officer Press release


WalletHub’s 20 happiest cities in America

…Fremont, CA #1 / San Fran #7 / Minneapolis #13 / Seattle #18 Top 20 list


Eggo unveils one-of-a-kind House of Pancakes, opens rental slots at Fox Business. “The house, which is available to rent on HomeToGo, is located in Gatlinburg, Tennessee. The city is known for being the Pancake Capital of the South.” Read more


Dollar General Opens 20,000th Store Press release


Drugs like Ozempic and Wegovy could boost the US economy by a trillion dollars in a few years, Goldman Sachs predicts at CNN Money. “Goldman Sachs argues that since poor health unambiguously weighs on the economy, improving health outcomes due to GLP-1s could lower costs and boost productivity, shoring up economic output…estimates that GLP-1s could add 0.4% to America’s gross domestic product.” Read more


Walgreens First Community Pharmacy to Accept a Broad Array of Medicare Advantage Supplemental Benefits Online and in App Press release


Walmart Leadership to Participate in Upcoming Investor Events Press release


Fareway Submitting Plans to Open Its 1st Full-Service Store in Kansas at Progressive Grocer. “Family-owned Fareway employs more than 12,000 associates in its 135-plus stores located in Iowa, Illinois, Kansas, Minnesota, Missouri, Nebraska and South Dakota.” Read more


Human finger found in parking lot of Walmart store at CBS


Survey: More than half of home decor shoppers value in-store experience at Chain Store Age. “A third of shoppers find in-store pricing competitive with online deals, suggesting a need for online retailers to reassess their pricing strategies. However, many consumers (42%)  feel “overwhelmed” by online options, which 2 Visions says highlights the need for better merchandising strategies.” Read more


***Advertising inquiries, new product searches, comments, questions, etc., contact Jason Long at jlong@eyeonretail.net

Dollar Stores Restricted | Corn Regret | Homes 32% All-Cash


Existing home sales rose 3% to start the year at CNBC. “The 32% all-cash share was up from 29% in both December and in January 2022. First-time buyers made up just 28% of sales. Historically they make up about 40%.” Read more


FTC, states could sue over Kroger-Albertsons $24.6 bln deal next week at Bloomberg/Reuters. “An agreement to not close the deal between the FTC and the two companies expires on Feb. 28, and the report said a lawsuit to block the deal is expected before that.” Read more


Chicago City Council approves new restrictions on dollar stores at CBS News. “The ordinance prohibits so-called “small-box retailers” from opening within one mile of another such store owned by the same company…but exempts gas stations, pharmacies, pawn shops, flea markets, thrift shops, and other various specialty shops…exemptions for so-called “small-box retailers” that set aside at least 10% off their floor space to fresh produce, meat, seafood, and dairy products.” Read more


Zara’s secret weapon in fast-fashion fight against Shein at Reuters. “Zara owner Inditex, the world’s biggest listed fast fashion company by sales, is expanding its low-priced Gen Z-focused brand Lefties to counter Chinese-founded rival Shein. The rapid growth of Shein, an online marketplace with no physical stores, is putting pressure on retailers like Inditex and Sweden’s H&M to find ways to respond to its budget prices.” Read more


Walmart’s PhonePe launches India app store in challenge to Google at TechCrunch. “Microsoft, Amazon and Meta are among the top brands whose apps are listed on the Indian fintech PhonePe’s Indus Appstore, an Android app store launched Wednesday in challenge to Google’s monopoly in its largest market by users.” Read more


For the first time, Jeff Bezos’ Blue Origin space venture lifted up an orbital-class New Glenn rocket on its Florida launch pad — with the billionaire boss keeping watch at GeekWire


It’s Been 30 Years Since Food Ate Up This Much of Your Income at WSJ. “If you look historically after periods of inflation, there’s really no period you could point to where [food] prices go back down,” said Steve Cahillane, chief executive of snack giant Kellanova, in an interview. “They tend to be sticky.” WSJ subs. 


Target Announces Collaboration with Diane von Furstenberg Press release


Home Depot ban on worker’s Black Lives Matter apron was illegal, US agency rules at Reuters. “Home Depot was ordered to reinstate Morales and compensate them for lost pay and benefits. The company… can appeal the decision to a federal appeals court…” Read more


Amazon is replacing Walgreens in the Dow Jones Industrial Average at CNN


US farmers face harsh economics with record corn supplies in silos at Reuters. “The steepest market downturn in a decade in 2023 has extended into 2024, hurting the U.S. rural economy. Two years of high prices and tight crop supplies spurred by unfavorable global weather and disruption from the Ukraine war have been quickly reversed.” Read more


Amazon to Sunset Freevee, Streamlining Its Ad and Product Efforts at Adweek


New feature allows Amazon Fresh shoppers to lock in recurring time slot for grocery pickup or delivery at GeekWire. “The service allows customers to set their window up to seven days in advance. Shoppers receive notifications in advance of a reservation expiration, and must check out 24 hours ahead of time to keep their preferred time.” Read more


Good Housekeeping’s 2024 Sustainable Innovation Awards Press release


Wawa to open 70-plus stores in 2024 at Chain Store Age


***Advertising inquiries, new product searches, comments, questions, etc., contact Jason Long at jlong@eyeonretail.net


WM +4% | Sam’s +3.1% | THD -4% | Loblaw +40


Walmart Q4 Comp Sales (ex-fuel): Walmart U.S. +4.0% / Sam’s Club +3.1%

  • Walmart Int’l Q4 net sales +13%
  • Global eCommerce sales grew 23%
  • Global adv business grew ~ 33%, including 22% for Walmart Connect in the U.S. Press release


Walmart to buy TV maker Vizio for $2.3 billion in move to grow its ad business at CNBC. “Walmart’s control of the Vizio platform will give companies that advertise with the retailer a greater reach. In a news release, Walmart said Vizio’s SmartCast system has 18 million active accounts.” Read more


Home Depot Q4 U.S. comp sales down 4% Press release


…Home Depot forecasts weak 2024 results as demand fails to pick up at Reuters. “Foot traffic at Home Depot fell in the fourth quarter, with declines worsening toward January due to harsh winter weather…”There was an expectation … that the company could return to growth sooner than they’re guiding to,” said Jonathan Reid, a director at Fitch Ratings.” Read more


The rise and fall of Drizly at Boston Globe. “Sitting on an old Steelcase fabric chair in (college entrepreneurship guru) Gallaugher’s office, Rellas explained that store owners were terrified of big companies like Amazon, had their own delivery infrastructure, and could benefit from a single app with a nationwide brand. “That was actually a really sophisticated insight,” Gallaugher said. “The joke now is that if I convince you to try not to build your business, then you’re probably going to have a successful [business] someday.” Read more


Amazon driver fends off attack from drunk, naked NYC migrant — and ends up in cuffs at NY Post


CANADA – Loblaw to build more than 40 new stores as part of expansion plan at Toronto Star. “The parent company of Loblaws and Shoppers Drug Mart says it will also expand or relocate another 10 locations. It will renovate more than 700 others.” Read more


Alibaba bets on overseas e-commerce unit amid sluggish growth in China at CNBC. “One bright spot in Alibaba’s recent December quarter earnings was its international e-commerce business unit which saw revenue increase 44% from a year ago. Alibaba International Digital Commerce Group includes platforms like AliExpress, Lazada, Daraz and Trendyol.” Read more


CANADA – Loblaw, Walmart urged to sign grocery code or risk legislation at Financial Post


Flipkart has weighed acquiring Google-backed instant delivery startup Dunzo at TechCrunch. “Flipkart, owned by Walmart, is skeptical about precisely what it would be able to take over if it were to acquire Dunzo, which has several IP relationships with Reliance Retail, India’s largest retail chain…Flipkart leads the Indian e-commerce market and is valued at over $32 billion.” Read more


Macy’s receives Director nominations from Arkhouse Press release


Guess?, Inc. and WHP Global to Acquire rag & bone “Currently, the brand directly operates 34 stores in the U.S. and two stores in the U.K….In 2023, rag & bone generated unaudited annual revenue of approximately $250 million and adjusted EBITDA of $18 million.” Press release


Dillard’s introduces The Coterie Shop Press release


TikTok violates Indonesian in-app transactions ban, says minister at Reuters. “TikTok had been forced to close its relatively new e-commerce service, TikTok Shop, in Indonesia after the country banned online shopping on social media platforms last year, citing the need to protect smaller merchants and users’ data.” Read more


***Advertising inquiries, new product searches, comments, questions, etc., contact Jason Long at jlong@eyeonretail.net

Target’s New Value Brand | C.Tire -6.8% | Retail Sales -0.8%


Retail sales fall 0.8% in January from December as shoppers pause after strong holiday season at Yahoo/AP. “Excluding sales at auto dealerships and gas stations, sales were down 0.5%. The decline was bigger than the 0.10% drop that economists expected and marked the lowest monthly figure since March of last year.” Read more


Target’s latest answer to inflation angst: A new brand with prices starting at $1 at Minneapolis Star Tribune. “Dealworthy will replace Smartly, a smaller private-label, low-cost brand Target started in 2018 …Target is also revamping one of its larger and more popular owned brands, Up&up. It has been around for 15 years and already generates nearly $3 billion in sales a year. “We did a lot of research, listening to guests and reading reviews,” said (Rick) Gomez. “And we’ve identified the opportunity to improve over 40% of the line.” Read more


Canadian Tire Q4 comp sales down 6.8% Press release


Walmart, supermarket data prove it: Valentine’s Day is for the procrastinators at Fortune. “Walmart — which sells nearly 40 million red roses for the holiday — says around 75% of its Valentine’s Day sales occur on Feb. 13 and 14. Those two days account for 80% of Kroger’s sales during Valentine’s week.” Read more


Shoe Carnival acquires Rogan Shoes, a footwear company with 28 store locations in Wisconsin, Minnesota, and Illinois Press release


Alibaba faces reckoning with once-vaunted ‘new retail’ strategy at TechCrunch. “Alibaba is now taking a strategic shift back to its core focus of online businesses, i.e. ecommerce and cloud computing. This move is essential — and urgent — in light of the meteoric rise of its archrival PDD.” Read more


Warehousing Demand Is Starting to Shrink at WSJ. “Some businesses now are subleasing space they had added “based on projections that didn’t come to fruition,” said Mark Russo, head of industrial research at Savills. “It was a lot of just-in-case inventory management thinking and thinking that that level of consumption was going to keep going up.” WSJ subs


US Foods Q4 net sales grew 4.5% Press release


Walmart and Target Are Championing a California Ballot Measure That Could Crack Down on Retail Crime at Inc. “Target has contributed $500,000 to the efforts to repeal Prop 47, and Walmart has given twice that, according to the Orange County Register. The money goes toward campaigns to qualify the measure for the ballot in November.” Read more


Instacart lays off 250 employees, or 7% of its workforce, to ‘reshape’ company at TechCrunch


Walmart in talks to buy Vizio for more than $2 bln at WSJ/Reuters. “… a move that could bolster its advertising business and give it control of more than a fifth of the U.S. television market.” Read more


California grandfather fatally shot while trying to apologize for fender bender at Walmart at Fox News


WaWa Billionaires Bet on Taking the Convenience Chain South at Bloomberg. “The Wawa convenience store chain, opened by Grahame Wood in 1964 to sell milk from the family dairy, has built a fiercely loyal customer base by capturing a certain je ne sais quoi about the personality of Philly and South Jersey. With about 1,000 locations and estimated sales of $18.5 billion in 2023, the Wood family’s 53% stake gives them a net worth of $6 billion…” Bloomberg subs.


True Religion, the Y2K-era jeans brand that managed to survive two bankruptcies, is exploring a sale at CNBC


***Advertising inquiries, new product searches, comments, questions, etc., contact Jason Long at jlong@eyeonretail.net

Kroger Pledges | Tide Pods Ban? | NIH Study | Tuna Surprise


Kroger pledges to lower prices for consumers when its planned merger with Albertsons closes at MarketWatch. “Kroger Inc., facing regulatory pushback over its plan to merge with rival grocery chain Albertsons Cos. Inc. in a roughly $25 billion deal, said Tuesday it typically lowers prices for consumers after consummating a deal.” Read more | Press release


NYC may ban detergent packs including Tide Pods in latest ‘green’ crackdown — with fines up to $1,200 for selling them at NY Post. “Polyvinyl alcohol, or PVA, is used as a film in pods that dissolves in water during a wash cycle. But scientists counter that it breaks down into tiny microplastic pieces that still pollute waterways and slip through filtration systems.” Read more


Retail return fraud running rampant, viral TikToks show at Fox Business. “TikToker Bailey Cormier received a can of tuna instead of a luxury ashtray (from Saks)…”This is what I found,” she claimed, holding up the can. “A can of albacore tuna…I don’t know if someone from the warehouse took it and replaced it… but this is the most f—ing expensive can of tuna I’ve ever bought.” Read more


Self-gifting is on the rise as consumers enjoy the empowerment of treating themselves at WSJ. “Self-gifting is on the rise for Cupid’s holiday as more consumers grow tired of receiving duds from their spouse or significant other…nearly half the U.S. adult population is unmarried and many say they aren’t looking for a romantic relationship. The trend is a boon for retailers and could help reverse sagging Valentine’s Day sales. Larger companies such as Target and Etsy to smaller jewelers and lingerie sellers are switching up marketing messages and creating special collections to emphasize self-gifting.” WSJ subs. 


Shopify shares down after company reports light guidance at CNBC. “Gross merchandise volume, or the total volume of merchandise sold on the platform, increased 23% to $75.1 billion — above the $72.1 billion expected by analysts, according to StreetAccount.” Read more


Once pioneering Body Shop UK collapses into administration at Reuters. “The retailer was one of the most popular on the British high street in the 1980s and 1990s but has faced much greater competition from newcomers in recent years…199 stores and online will continue to trade.” Read more


Dollar Tree, Inc. COO Mike Creedon adds leadership of Dollar Tree & Family Dollar Merchandising and Supply Chain to his scope “Dollar Tree Chief Merchandising Officer Rick McNeely, Family Dollar Chief Merchandising Officer Larry Gatta and Chief Supply Chain Officer Mike Kindy will report to Mike.” Press release


What, Exactly, Should You Eat? Inside the $190 Million Study Trying to Find the Answer at WSJ. “Kevin Elizabeth, a 28-year-old tech worker, is one of 500 Americans who will be living at scientific facilities around the country for six weeks, eating precisely selected meals and undergoing hundreds of medical tests. He is part of a new study, costing $189 million, that is one of the most ambitious nutrition research projects the National Institutes of Health has ever undertaken.” WSJ subs. 


Jeff Bezos will save over $600 million in taxes by moving to Miami at CNBC. “In 2022 Washington state imposed a new, 7% capital gains tax on sales of stocks or bonds of more than $250,000…In 2022, when the tax took effect, Bezos stopped selling…After his move to Miami, Bezos made up for lost time.” Read more


SpartanNash will expand the use of autonomous inventory robot Tally at 60 additional store locations Press release


Junior Achievement of Arkansas to honor CEO of Walmart by Arkansas Democrat-Gazette. “The event — set for May 9 at the Statehouse Convention Center, Governor Halls I and II, in Little Rock — is designed to help pay for costs to nearly 20% of the students JA will reach during the school year.” Read more


Father of CVS pharmacist who died calls company memo ‘corporate garbage’ at Fox Business. “For years, Larry Anderson has been fighting to keep his daughter’s story alive, from talking to reporters to putting up billboards along the highway in their state of Indiana, in hopes that there will be a monumental change in an industry that has placed tremendous stress on its workers.” Read more


Amazon recognized for contributions to Bellevue’s downtown at GeekWire. “Amazon on Friday said it has opened its latest office building in Bellevue, dubbed Dynamo, and now has more than 11,000 employees working in the city. At 300,000 square feet, the new building includes room for more than 1,500 people…” Read more


Consumers have fewer choices as brands prune their offerings to focus on best sellers at AP. “…may also hurt smaller brands who relied on retailers to offer different products — Bob Friedland…said that for years, his go-to barbecue sauce has been Open Pit. But Friedland noticed that over the past few years, his local grocers hadn’t been carrying it, and he’s since turned to Amazon to buy it. That means those local stores not only lost out on Open Pit sales to Friedland. but all the other purchases he used to make while shopping for his favorite barbecue sauce.” Read more


Casey’s Hires First-Ever Chief Pizza & Beer Officer “As a proud resident of Casey’s Country and a self-proclaimed pizza and beer aficionado, I’m honored to be the first person to take on this coveted role,” said Joe Cruz, Casey’s new Chief Pizza & Beer Officer.” Press release


Score is a new dating app for people with good to excellent credit “There is a new dating app just in time for Valentine’s Day, but there’s a catch: You must have at least a 675 credit score to use it.” Read more

Snoop Dogs WM | Poaching in Seattle | Costco +3.4%*


Snoop Dogg, Master P allege Walmart, Post Foods hid their cereal in sabotage plot at CNBC. “Walmart said…“We will respond as appropriate with the Court once we are served with the complaint.”…At a media briefing Tuesday announcing the lawsuit, Master P said the suit “is about minority-owned companies getting a fair share.” Snoop Dogg said, “We ain’t build this brand to sell it.” The rappers are being represented by high-profile civil rights attorney Ben Crump.” Read more


Costco January comp sales (ex. gas & f/x) +3.4% “This year’s retail month of January had one less shopping day due to the timing of New Year’s Day. This negatively impacted total and comparable sales by approximately three to three and one-half percent.” Press release


Saks Fifth Avenue Debuts New $52M Women’s Store in Beverly Hills at The Hollywood Reporter. “Looking for a private, pink-hued two-story suite with a view of the Hollywood Sign in which to try on the latest designer looks? Look no further than the top floor of Saks Fifth Avenue‘s new Beverly Hills store which opens to the public on Feb. 8, inside the 130,000-square-foot building at 9570 Wilshire Boulevard that once housed Barneys New York.” Read more


Walgreens Boots Alliance Announces Leadership Appointments “Mary Langowski joins WBA to lead U.S. Healthcare segment…Manmohan Mahajan, interim since July 2023, appointed permanent chief financial officer…Elizabeth Burger joins WBA as chief human resources officer…” Press release


Amazon’s Newest Competitors Are Stepping Into Its Territory—Literally at WSJ. “Fast-fashion company Shein and TikTok’s shopping unit are expanding in Amazon’s territory, seeking to poach Amazon’s employees and building out workspaces in the same Seattle-area office tower. The two companies are bolstering their staff at a 22-story tower near Seattle known as the Key Center, and both are recruiting current and former Amazon employees as they expand their U.S. logistics and supply-chain operations.” WSJ subs. 


Target considering new paid membership program at Bloomberg/Reuters. “…similar to Amazon and Walmart, Bloomberg News reported, citing people familiar with the matter. The new program, internally titled as Project Trident, could launch as soon as this year…” Read more


Tapestry forecasts higher 2024 profit on China demand, strong margins at Reuters


Costco Korea to raise wages by 6.2% as labor relations worsen at The Chosun. “Costco Korea plans to increase the base pay of its store employees by 1,000 won per hour, from $12.2 (16,167 won) to $13 (17,167 won), on Feb. 19. The wage hike surpasses the national minimum wage increase of 2.5% for the year and exceeds the base salary increments of major domestic retailers such as Emart, Homeplus, and Lotte Mart.” Read more


San Jose residents say no to Costco at KTVU 2


Amazon cutting hundreds of jobs in health care units One Medical and Amazon Pharmacy at GeekWire. “Amazon Health Services Senior Vice President Neil Lindsay said Amazon is seeing “strong momentum and positive customer feedback” across its health care offerings, but a “few hundred” roles would be cut.” Read more


Publix VP of Customer Experience Bob Bechtel to retire – promotion of Publix Director of Omnichannel David Finger to VP of customer experience Press release


Alibaba shares sink after it shelves IPO plans for two units at CNN. “Net income fell by 77% to just over $2 billion, which the company said was caused by a “decrease in income” from its operations…announcement of a $25 billion share repurchase program, which it said demonstrated its confidence in its business and cash flow outlook, also failed to ignite interest among investors.” Read more


Best Buy’s Hubert Joly on Re-Defining Your Company’s Purpose at Harvard Business Review. 29:19 podcast


Ahold Delhaize USA Announces Partnerships with DoorDash “…available to customers at each of its local omnichannel brands – Food Lion, Hannaford, Giant Food, The GIANT Company and Stop & Shop. Delivery from DoorDash is expected to be available to customers of all brands by March.” Press release


Trader Joe’s shoppers are warned of wallet snatching in Bay Area at Daily Mail


American CEOs Visiting China Can’t Escape It: They Have to Dance on Stage at WSJ. “In China, CEOs are allowed to be dorky,” says Barra, who danced and sang a lot while there, often with other senior Xiaomi leaders, who he says would set aside time from their busy schedules to practice their footwork. Barra remains thankful that not all of his performances were public, and thus not all searchable online.” WSJ subs.


Masked California thief caught on video brazenly taking dozens of iPhones from Apple Store at Fox Business


***Advertising inquiries, new product searches, comments, questions, etc…contact Jason Long at jlong@eyeonretail.net

Costco Snags Kroger CFO | TaylorMade Sues Costco | Dick’s Concept @ AZ


Costco Announces Richard Galanti Will Step Down as CFO, Names Gary Millerchip New CFO “Gary (served) as Senior Vice President and Chief Financial Officer at The Kroger Co. since April 2019. Gary spent 15 years at The Kroger Co., preceded by more than 20 years in banking…Richard will remain with the Company through January 2025, serving in an advisory role.” Press release


…Kroger names Todd Foley, group vice president, corporate controller and chief accounting officer, as interim CFO…will name a CFO successor at a later date Press release


Luxury Retailers Are Buying Out Their Landlords at WSJ. “In New York City, Prada recently agreed to buy the building that houses its Fifth Avenue store as well as the building next door for more than $800 million. Gucci’s parent company, Kering, is also paying nearly $1 billion for a 115,000-square-foot retail space a few blocks south. Luxury behemoth LVMH Moët Hennessy Louis Vuitton, meanwhile, is in discussions to purchase the Fifth Avenue retail space occupied by Bergdorf Goodman’s men’s store, according to a person familiar with the matter.” WSJ subs.


Amazon ‘censored’ COVID-19 vaccine books after ‘feeling pressure’ from Biden White House: docs at NY Post. “The email states that a tweak to the bookseller’s website that would redirect more customers searching certain keywords to the Centers for Disease Control and Prevention website was in the works and that a screenshot of that change should be sent to the White House, but it warned employees to play coy with the Biden administration about potential further actions.” Read more


TaylorMade Sues Costco for Patent Infringement Over Kirkland Brand of Irons at Golficity. “Included in the court filing are 11 exhibits that TaylorMade says proves Costco infringed on patents held by the plaintiff. The complaint also says an engineer who is currently with SCDC used to work for TaylorMade.” Read more


New Macy’s CEO Tony Spring looks to revive a 166-year-old retailer fighting for relevance at CNBC. “In CNBC interviews, current and former Macy’s employees, industry leaders and investors said Spring will bring a deep retail background, a merchant’s sharp eye and credibility with coveted national and global brands from his decades at Bloomingdale’s. Yet they acknowledged the new CEO will have his hands full. Some expressed concern that as a longtime executive at the company, Spring won’t bring the same scrutiny an outsider would.” Read more


Gap names fashion designer Zac Posen as its new creative director at CBS News. “In his new role, Posen will lead design, merchandising and marketing for Old Navy, one of the largest apparel brands in the U.S. He will report to Old Navy CEO Haio Barbeito.” Read more


CANADA – Business insolvencies spike by 41% in two years as pandemic aid fades — experts say it’s just the ‘tip of the iceberg’ at Toronto Star


The top 10 overall titles in Nielsen’s year-end rankings are all acquired shows, the first time that’s happened in the four years streaming rankings have been publicly available at The Hollywood Reporter. “Suits #1, Bluey #2…” Top 10 list


Dick’s Sporting Goods to bring experiential concept store in Arizona at ABC 15. “…planning to debut its budding national store concept — called Dick’s House of Sport — in Arizona in 2025…combines…retail merchandise with sporting experiences such as rock climbing, golf simulation bays and multi-sport cages for baseball, softball, lacrosse and soccer…Dick’s could be planning to build the center in metro Phoenix.” Read more


LOS ANGELES – Amazon delivery truck stuck on hillside, threatening home below at KTLA 5


Wayfair extends shoppable generative AI images to Apple Vision Pro at Chain Store Age. “Decorify on Apple Vision Pro enables users to view and select Wayfair items in 3D directly in their spaces. All 3D items are at full scale and anchor to the floor, designed to enable shoppers can see a variety of life-size products in any room or space in their home.” Read more


Stew Leonard’s recalls 8 chicken products weeks after NYC dancer’s death blamed on mislabeled cookies at NY Post


Biden takes aim at grocery stores for ‘ripping people off’ amid continued high prices at Yahoo News. “Well, it’s going to stop. Americans, we’re tired of being played for suckers,” Biden said to resounding applause. “And that’s why we’re going to keep these guys — keep on them and get the prices down.” Read more


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