Thursday Tipsheet: U.Armour +29% | Wmart Buys Out | H.Depot Acquires | Ikea Recalls
Wal-Mart buys out China e-commerce firm Yihaodian at Reuters. “Wal-Mart Stores Inc has taken full ownership of Chinese e-commerce firm Yihaodian.com, buying out the 49 percent stake that it did not already own to accelerate its push online.” Read more
Amazon’s Latest Prime Perk: A Five Percent Cash-Back Credit Card by Jason Del Rey at Recode. “Amazon quietly introduced the card, the Amazon Prime Store Card, in March and has been slowly rolling out marketing for it on Amazon.com since then. But the company hasn’t done any PR around it.” Read more
Under Armour’s quarterly sales jump 29 pct via Yahoo. Read the release
Wal-Mart Is Ending Overnight Hours at Some Stores by Shannon Pettypiece at Bloomberg. “The move will affect about 40 stores, including those in Philadelphia, New Jersey and Maryland, beginning next week, said spokesman Brian Nick. About two dozen 24-hour locations already had their hours reduced this spring, and more stores are slated to go through the process later.” Read more
Home Depot just made its biggest acquisition in nearly a decade at Fortune. “Home Depot said Bill Lennie, president of its Canada operations, will oversee the integration and then lead the Pro, MRO and installation services business in a newly created role.” Read more
Inside Target’s Cyber Fusion Center via a Bullseye View. “We’ve got teams of Cyber Security analysts working round the clock,” adds Brad Maiorino, Target’s Chief Information Security Officer. “They use a mix of human intelligence, analytics and state-of-the-art technology to detect, investigate and contain threats to our business.” Much of the work they do takes place in our newly opened Cyber Fusion Center (CFC).” See the pics / Read more
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Walmart Tests Pizza & Pastry Counter at New Store by Kim Souza at The City Wire. “Corporate spokesman John Forrest Ales said the store also offers made-to-order pizzas while customers wait. The shopper has the option of having it baked by Wal-Mart or simply wrapped for baking at home…Another new feature in the North Walton Boulevard store is a pastry counter supplied by Rick’s Bakery, which is based in Fayetteville.” Read more
Macy’s battles Amazon with same day delivery via CNBC. “Macy’s…already offers same-day delivery services in eight markets. By partnering with Deliv,an Uber-like startup that uses a fleet of contract drivers to pickup online orders from stores and malls, the retailer has found a cost-effective way to expand, said the Macy’s official, who spoke on condition of anonymity.” Read more
Ikea recalls 27 million chests, dressers after two deaths by Jayne O’Donnell at USA Today. Read more
Walmart, Whole Foods Urged To Sell ‘Ugly’ Produce At A Discount at CBS. “Figueiredo’s petition calls on the stores to sell the produce at 30 to 50 percent discount, noting that many low-income families can’t afford fruits and vegetables.” Read more
Jet Hits $1 Million in Sales on Launch Day by Jason Del Rey at Recode. “To be clear, that’s the company’s gross receipts, not the cut of sales it keeps for itself.” Read more
Walmart Opens New e-Commerce Fulfillment Center in Bethlehem, PA “The new 1.2 million sq. ft. facility in the Majestic Bethlehem Center, which features state-of-the-art automation and warehousing systems, created nearly 400 full-time jobs in the Lehigh Valley…” Read the release See the video via Morning Call
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Eye-on-Retail Tipsheet is created early every weekday morning and read by retail merchants and executives worldwide. We love data, earnings reports, executive presentations and stories off the beaten path that get at what’s really happening in the world of retail. See our website at www.eyeonretail.net