Target cuts innovation initiatives, including secretive Goldfish start-up by Kavita Kumar at Star Tribune. “Target killed Goldfish, a secretive e-commerce start-up it green-lighted a year ago, and has shelved a prototype for a robot-infused store of the future that was slated to soon be built, according to four sources familiar with the matter.” Read more

 

Costco January Comp Sales +7.0% “Costco reported net sales of $9.08 billion for the month of January, the four weeks ended January 29, 2017, an increase of nine percent from $8.32 billion during the similar period last year.” Press release

 

Trump set to meet with Doug McMillon and other CEOs on Friday by Vicki Needham at The Hill. “The group includes Bob Iger, chairman and CEO, The Walt Disney Co,; Larry Fink, chairman and CEO, BlackRock; Doug McMillon, president and CEO, Wal-Mart Stores; Jim McNerney, former chairman and CEO, Boeing; Jamie Dimon, chairman and CEO, JPMorgan Chase & Co; Ginni Rometty, chairman and CEO of IBM.” Read more

 

Wal-Mart tests convenience store by Robbie Neiswanger at Northwest Arkansas Democrat Gazette. “The 2,500-square-foot building is the company’s latest fuel station and convenience store concept, according to Ramnik Narsey, a senior vice president for Wal-Mart’s U.S. fuel business…spent about a year developing plans before building the convenience stores in Rogers and Crowley, Texas. The Rogers store, which is at the entrance of a Wal-Mart Supercenter, replaces a kiosk previously at the existing fuel station.” Read more

 

Amazon plans more than 200 daily flights from new cargo hub via CNBC. Read more

 

Macy’s sale rumored as long-time CEO steps down at NY Post. “Lundgren, who had not planned to cap his tenure with a sale, has recently become open to offers from potential friendly buyers as a proactive measure to head off any attempt to mess with the board, sources familiar with the situation said. A partner at a private equity firm told The Post that he’d been contacted about a Macy’s sale by a real estate investor — while other industry sources close to the situation say they, too, have had similar discussions.” Read more

 

…Macy’s shares jump after report says CEO seeking buyer by Berkeley Lovelace Jr. at CNBC. Read more

 

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Meet Sam’s Club’s New President & CEO, John Furner at Walmart Today. “I’m thinking about it in terms of three big areas: 1. People – We need to engage everyone, at all levels of the company, in the fight we’re in…2. Product – The products we sell have to be the hero…3. Digital – I’m committed to accelerating our digital transformation.” Read more

 

‘Hottest Target employee ever’ wins fans and makes workers happy with his dance moves by Lisa Gutierrez at Kansas City Star. “The dancing Target guy is a viral star. His video has been watched more than 3 million times and shared nearly 24,000 times. “It was kind of crazy,” said Carlson, 24. “It kept spiraling and spiraling.” Video/Read more

 

NRF forecasts 7.6% decrease in Valentine’s Day spending Press release

 

Mass.: Super-cheap booze at Total Wine fuels pricing fight by Dan Adams at Boston Globe. “…the country’s largest alcohol retailer, Total Wine & More , is fighting back, suing the state Alcoholic Beverages Control Commission over sanctions the agency issued to its two Massachusetts stores for allegedly selling bottles of brand-name vodka, rum, and other liquors several dollars below cost.” Read more

 

Fred’s January Comp Sales -4.8% Press release

 

Ralph Lauren shares tumble 10%; CEO Larsson leaving company by Berkeley Lovelace Jr. at CNBC. “…we have found that we have different views on how to evolve the creative and consumer-facing parts of the business. After many conversations with one another, and our Board of Directors, we have agreed to part ways” Ralph Lauren said. Read more

 

Reckitt Benckiser in talks to buy Mead Johnson for $16.7 billion Read more

 

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