Costco Snags Kroger CFO | TaylorMade Sues Costco | Dick’s Concept @ AZ
Costco Announces Richard Galanti Will Step Down as CFO, Names Gary Millerchip New CFO “Gary (served) as Senior Vice President and Chief Financial Officer at The Kroger Co. since April 2019. Gary spent 15 years at The Kroger Co., preceded by more than 20 years in banking…Richard will remain with the Company through January 2025, serving in an advisory role.” Press release
…Kroger names Todd Foley, group vice president, corporate controller and chief accounting officer, as interim CFO…will name a CFO successor at a later date Press release
Luxury Retailers Are Buying Out Their Landlords at WSJ. “In New York City, Prada recently agreed to buy the building that houses its Fifth Avenue store as well as the building next door for more than $800 million. Gucci’s parent company, Kering, is also paying nearly $1 billion for a 115,000-square-foot retail space a few blocks south. Luxury behemoth LVMH Moët Hennessy Louis Vuitton, meanwhile, is in discussions to purchase the Fifth Avenue retail space occupied by Bergdorf Goodman’s men’s store, according to a person familiar with the matter.” WSJ subs.
Amazon ‘censored’ COVID-19 vaccine books after ‘feeling pressure’ from Biden White House: docs at NY Post. “The email states that a tweak to the bookseller’s website that would redirect more customers searching certain keywords to the Centers for Disease Control and Prevention website was in the works and that a screenshot of that change should be sent to the White House, but it warned employees to play coy with the Biden administration about potential further actions.” Read more
TaylorMade Sues Costco for Patent Infringement Over Kirkland Brand of Irons at Golficity. “Included in the court filing are 11 exhibits that TaylorMade says proves Costco infringed on patents held by the plaintiff. The complaint also says an engineer who is currently with SCDC used to work for TaylorMade.” Read more
New Macy’s CEO Tony Spring looks to revive a 166-year-old retailer fighting for relevance at CNBC. “In CNBC interviews, current and former Macy’s employees, industry leaders and investors said Spring will bring a deep retail background, a merchant’s sharp eye and credibility with coveted national and global brands from his decades at Bloomingdale’s. Yet they acknowledged the new CEO will have his hands full. Some expressed concern that as a longtime executive at the company, Spring won’t bring the same scrutiny an outsider would.” Read more
Gap names fashion designer Zac Posen as its new creative director at CBS News. “In his new role, Posen will lead design, merchandising and marketing for Old Navy, one of the largest apparel brands in the U.S. He will report to Old Navy CEO Haio Barbeito.” Read more
CANADA – Business insolvencies spike by 41% in two years as pandemic aid fades — experts say it’s just the ‘tip of the iceberg’ at Toronto Star
The top 10 overall titles in Nielsen’s year-end rankings are all acquired shows, the first time that’s happened in the four years streaming rankings have been publicly available at The Hollywood Reporter. “Suits #1, Bluey #2…” Top 10 list
Dick’s Sporting Goods to bring experiential concept store in Arizona at ABC 15. “…planning to debut its budding national store concept — called Dick’s House of Sport — in Arizona in 2025…combines…retail merchandise with sporting experiences such as rock climbing, golf simulation bays and multi-sport cages for baseball, softball, lacrosse and soccer…Dick’s could be planning to build the center in metro Phoenix.” Read more
LOS ANGELES – Amazon delivery truck stuck on hillside, threatening home below at KTLA 5
Wayfair extends shoppable generative AI images to Apple Vision Pro at Chain Store Age. “Decorify on Apple Vision Pro enables users to view and select Wayfair items in 3D directly in their spaces. All 3D items are at full scale and anchor to the floor, designed to enable shoppers can see a variety of life-size products in any room or space in their home.” Read more
Stew Leonard’s recalls 8 chicken products weeks after NYC dancer’s death blamed on mislabeled cookies at NY Post
Biden takes aim at grocery stores for ‘ripping people off’ amid continued high prices at Yahoo News. “Well, it’s going to stop. Americans, we’re tired of being played for suckers,” Biden said to resounding applause. “And that’s why we’re going to keep these guys — keep on them and get the prices down.” Read more
***Advertising inquiries, new product searches, comments, questions, etc…contact Jason Long at jlong@eyeonretail.net