Tipsheet: WM CIO Departs | REI’s Magazine | RH Movie | Chewy +43%
Capital One launches two new co-branded Walmart credit cards:
- 5% off purchases at Walmart’s website
- In-store: 5% off first 12 months then 2% off when checking out with Walmart Pay
US home building climbs 12.3% in August to 12-year high at AP. “Construction of single-family homes rose 4.4% to 919,000. Building of apartments and condominiums surged 30.9% —biggest monthly gain since December 2016 — to 424,000. Residential construction rose 30.5% in the Northeast, 15.4% in the Midwest and 14.9% in the South but was unchanged in the West.” Read more
Chewy shares slide despite narrower-than-expected second quarter loss at CNBC. “The pet food and product retailer posted net sales of $1.15 billion, topping estimates of $1.13 billion, according to a survey of analysts by Refinitiv. Sales also grew 43% from last year.” Read more
Walmart CIO to Join Yum Brands by Sara Castellanos at Wall Street Journal. “Clay Johnson will be Yum’s chief digital and technology officer, a newly created position…His departure comes a few months after Walmart merged its consumer-facing and internal technology teams under a new role held by Suresh Kumar, a former executive at Amazon.com Inc. and Alphabet Inc. ’s Google.” WSJ subs.
RH releases “RH New York, The Movie,” a short film documenting the creation of RH New York, The Gallery in the Historic Meatpacking District 4:26 video/Press release
‘Rental’ apparel brings new wrinkles for retail stores at Reuters. “Lisa Batitto, 54, says she has virtually stopped buying clothes ever since she started renting them. The New Jersey-based museum publicist spends $277 a month on three subscriptions…This is less than what she previously spent, she said. “I still have clothes in my closet from when I was buying, but I can’t tell you the last time I bought anything,” she said.” Read more
Meijer expands shop & scan technology to all stores Press release
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REI launches a magazine, Uncommon Path at Ad Age. “Uncommon Path also includes full-page ads from the likes of Merrell, Fjallraven, Subaru and Altra. The first issue runs 84 pages…” Read more
Amazon PayCode, already available in 19 countries around the world, launches today in the U.S. and allows customers to choose Amazon PayCode at checkout and then pay for their purchase in cash at one of 15,000 Western Union locations. Press release
Stein Mart Launches ‘Buy Online, Pick Up in Store’ at all locations – first U.S. off-price retailer to offer BOPIS service Press release
Amazon begins its airlift of Hurricane Dorian relief supplies to the Bahamas by Alan Boyle at GeekWire. “The first Amazon Air cargo plane arrived in Nassau on Monday with about 19,300 items on board, Amazon CEO Jeff Bezos reported in a tweet. The cargo weight amounted to 72,728 pounds.” Read more
Stage Stores announces total company conversion to off-price Press release
Fanatics hires Nike exec as CFO at CNBC. “Michener Chandlee’s hiring comes as Fanatics is targeting sales of more than $2.5 billion this year…Fanatics has been expanding its reach by creating exclusive merchandise for Walmart and Kohl’s. The company serves as the official online store for hundreds of sports teams and leagues globally.” Read more
Starbucks Japan is selling pens with built-in NFC wallets by Sam Byford at The Verge. Read more
GameStop co-founder’s son raises $17 million to launch 24/7 video game news network VENN by Dom DiFurio at Dallas Morning News. “The founders have secured $17 million in backing for the network from a long list of heavyweights in the esports and video game publishing industry, as well as YuChiang Cheng, president of Dallas-based TopGolf Media.” Tiered subs.
Tipsheet Extra Stories
Inside Lady Gaga’s “Haus Party” to Unveil Cosmetics Line
Deadly ‘super mosquitoes that are even tougher’ accidentally created by scientists
Nextdoor’s new Kindness Reminder wants to stop neighbors from being so mean
Amazon’s ‘Lord of the Rings’ Series to Shoot in New Zealand
18% of 7-Eleven stores in the U.S. are currently available for franchising
The strategy behind TikTok’s global rise
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