US housing construction jumps 16.9% in December at AP. “Construction of new homes surged in December to the highest level in 13 years…Housing construction has been rising since July…For the year, builders started work on a total of 1.29 million homes, the best showing since 2007.” Read more
U.S. manufacturing output rises unexpectedly at Reuters. “The Federal Reserve said on Friday that manufacturing production rose 0.2% last month after a downwardly revised 1.0% increase in November. Overall industrial output fell 0.3% in December after a downwardly revised increase of 0.8% in November.” Read more
Procrastinators abounded this Christmas at CNBC. “Target CEO Brian Cornell said one of the biggest trends he spotted this holiday season was the fact that more shoppers were “comfortable shopping later in the season.”…On Dec. 24, for example, Cornell said Target prepared nearly five times the number of products for curbside pickup of e-commerce orders compared with a year ago.” Read more
Barneys Workers Feel Used as They March Store Toward Death by Sapna Maheshwari at NY Times. “Frank Elbling, a sales associate at Barneys for 16 years…has started to send out job applications. “I’ve had some interviews over the phone and they want to offer around 30, 40 percent less pay,” he said, adding, “I can’t afford to do that.” Tiered subs.
New Walmart headquarters campus to be ‘part of the neighborhood’ by Kim Souza at Talk Business. “Dan Bartlett, executive vice president of corporate affairs at Walmart, told members of the Northwest Arkansas Council that the retailer’s new corporate headquarters will not be one grand structure, but will be a “functional campus” that will look more like a college campus. Bartlett spoke Wednesday (Jan. 15) at the Northwest Arkansas Council’s winter meeting in Bentonville and shared details about the retail giant’s new corporate campus taking shape in Bentonville.” Read more/Pic
NRF Says 2019 Holiday Sales Were Up 4.1% “Down: Sporting goods stores were down 0.4 percent…clothing and clothing accessory stores were down 1.6 percent…electronics and appliance stores were down 2 percent year-over-year.” Press release
Signet Jewelers holiday comp sales +1.6% / North America +2.0% Press release
China’s Economic Growth Slows to Near 30-Year Low at +6.1% at CNBC. “Other Chinese economic data released alongside the GDP numbers showed growth in industrial output and retail sales for the month of December.” Read more
Gap Inc. No Longer Pursuing Separation of Old Navy Press release
Adidas is banking on Beyonce for growth with Ivy Park athleticwear line debut at CNBC. “Initially, Ivy Park will be smaller than Yeezy, but Ivy Park has the potential to be larger, if managed properly,” says Matt Powell, a senior footwear analyst at NPD Group. Powell says similar to the Yeezy line, he expects Adidas to keep the quantities tight on Ivy Park.” Read more
Canadian Tire Corporation Appoints New CFO Press release
Luxury retailer Louis Vuitton buys world’s second-largest rough diamond by Noah Manskar at NY Post. “Louis Vuitton’s acquisition of the diamond marks another step into luxury jewelry for its parent company, LVMH. The French luxury conglomerate agreed to buy storied New York jeweler Tiffany & Co. in November for about $16.2 billion.” Read more
Amazon is #1 ‘Evil’ Tech Company, According to Experts at Slate. List
Why a ban on Vaporfly shoe could boost Nike’s bottom line at Reuters. “Controversy is good for sales,” said Matt Powell, senior sports industry adviser at NPD Group. “Nike has not made a lot of pairs here, so (there is) no real financial impact. Amateur runners can still run in these shoes.” Read more
98.6 Degrees Fahrenheit Isn’t the Average Any More by Jo Craven McGinty at Wall Street Journal. “In a new study, researchers from Stanford University argue that Wunderlich’s number was correct at the time but is no longer accurate because the human body has changed. Today, they say, the average normal human-body temperature is closer to 97.5 degrees Fahrenheit.” WSJ subs.
Jeff Bezos hangs out with Bollywood stars during India trip at Fox Business. “Jeff Bezos has been rubbing shoulders with some of India’s top entertainers during a trip to the country this week. Bezos and his girlfriend, Lauren Sanchez, posed for photos at a blue carpet event in Mumbai organized by Amazon Prime Video on Thursday.” Pics/Read more
Walmart in hot water over Paul Walker car accident joke
The U.S. govt knows some household items aren’t safe but won’t tell you
Coke trade secrets case highlights U.S.-China tension
Did Jeff Bezos Buy His Neighbor’s D.C. Mansion?
Judge halts CA gig work law that threatened 70,000 truckers’ jobs
WinCo shooter insane. He says he was poisoned, now he’s been committed.
Eye on Retail Tipsheet is must-read material for retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.
Subscribe to Eye on Retail Tipsheet here
Contact us: Put your product or service in front of the most powerful retail execs in the world, send advertising inquiries to email@example.com