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“Amazon at odds with Germany over strong union tradition” by Jay Greene at Seattle Times. “As the protesting workers grill bratwurst and listen to a guitarist playing union songs, the rants aren’t the hot-button issues that often fuel strikes in the United States…Sure, the workers here want better pay and job security for zipping […]
“Home Depot Names Retail Chief Craig Menear As CEO” by Shelly Banjo at WSJ. “Mr. Menear, who will take the helm Nov. 1, will become the third CEO to run the country’s fourth-largest retailer by revenue…The CEO appointment settles the top job but raises questions about how long Mr. Ellison and Ms. Tome, both […]
“Family Dollar CEO Said to Guard Job” by Shelly Banjo at WSJ. “Dollar General said the chief executive of Family Dollar Stores, Howard Levine, shrugged off multiple requests to pursue a merger between the country’s two largest dollar chains out of fear he would have to step down as CEO, according to a letter […]
“Lowe’s Q2 Comp Sales +4.4%” “Lowe’s reported net earnings of $1.04 billion for the quarter ended August 1, 2014, a 10.4 percent increase over the same period a year ago…Fiscal Year 2014 outlook: total sales are expected to increase approximately 4.5 percent, comparable sales are expected to increase approximately 3.5 percent, expects to open approximately 10 home […]
“Home Depot Q2 Earnings Beat Street” at CNBC. “Home Depot, the world’s largest home improvement chain, reported a 5.7 percent rise in quarterly sales as customers spent more on home repairs after a severe North American winter…Revenue increased to $23.81 billion from $22.52 billion a year ago. Wall Street had expected the retailer to deliver second-quarter earnings […]
“Dollar General makes rival $9.7B bid for Family Dollar (Dollar General CEO would stay on until 2016)” by Andrew Ross Sorkin at CNBC. “Dollar General’s offer of $78.50 a share in cash is higher than the $74.50 a share in cash and stock bid made by Dollar Tree on July 28. If a Dollar General-Family […]
“Who’s Afraid of Amazon? Not Costco, Says Craig Jelinek” by Nina Shapiro at Seattle Weekly. “I called Jelinek this week to ask him what’s going on…“We’re going to open about 30 Costcos a year,” Jelinek says…the Issaquah retailer is dabbling in some kind of online delivery service through Uber…”They come in to buy from […]
Walmart & Sam’s Comp Sales Flat for Q2. Q2 Highlights: * Consolidated net sales for the second quarter were $119.3 billion, an increase of 2.8 percent over last year. * Walmart U.S. comp traffic decreased 1.1 percent, while average ticket increased 1.1 percent. * E-commerce sales positively impacted comp sales by approximately 0.3 percent. * Excluding […]