Eye-on-Retail Tipsheet 5/13/13: Walmart Shareholders Event & Elton John | Canada’s Housing Bubble
“Week Ahead: Retail Earnings and Lots of Data” by Dunstan Prial at Fox Business. “Bellwether retailers scheduled to release their quarterly earnings reports include Macy’s (M), Kohl’s (KSS), Nordstrom (JWN), J.C. Penney (JCP) and the biggest of all, Wal-Mart (WMT). Analysts say retailers on the whole likely suffered a bit last quarter due to uncommonly cold weather in much of the U.S. Numbers may be weaker than in previous quarters.” Read more: https://www.foxbusiness.com/economy/2013/05/10/week-ahead-retail-earnings-and-lots-data/#ixzz2TAfh372a
“Elton John To Highlight Walmart Shareholders Event” by Shain Bergan at 5 News Online. “Music icon Elton John is set to perform at Walmart’s shareholders event in Fayetteville next month, alongside country music artist Luke Bryan and special guest Ed Sheeran, according to a Walmart spokeswoman.” Read more: https://5newsonline.com/2013/05/10/elton-john-to-highlight-walmart-shareholders-event/
“DIY Retailers Hope Housing Recovery Isn’t a Mirage” by Matthew Rocco at Fox Business. “Most companies in the industry have improved profitability with the exception of Lowe’s, Wilson noted. He explained that Home Depot has taken market share away from Lowe’s, saying the smaller rival has “bigger fish to fry” than waiting for a housing boom. While Home Depot’s success could be taken as a sign of a strengthening housing market, Lowe’s may serve as a warning that a rising tide doesn’t necessarily lift all retailers. “Lowe’s needs a housing recovery just to keep management employed, in my view. Home Depot doesn’t necessarily need a housing recovery. They just need to keep taking market share from Lowe’s,” Wilson said.” Read more: https://www.foxbusiness.com/industries/2013/05/10/diy-retailers-hope-housing-recovery-isnt-mirage/#ixzz2TAXYqZ5v
“Walmart Launching Grocery Stores in Fresno” by Tony Botti at CBS 47 – Fresno. “They’re known as Neighborhood Markets. Walmart announced Friday it will construct one in the spot where the former Cedar Lanes bowling alley operated for half a century. Unlike a typical Walmart, it will function strictly as a grocery store with a pharmacy. The market is scheduled to open in early 2015.” Read and see more: https://www.cbs47.tv/news/local/story/Walmart-Launching-Grocery-Stores-in-Fresno/NGs5PW8GoU-A_1sJHjSEXQ.cspx
“Sobeys a partner as Target Canada arrives” by Geoff Kirbyson at Winnipeg Free Press. “You might think the newest combatant into Manitoba’s grocery wars would be a direct threat to Canada Safeway, the Real Canadian Superstore and Sobeys. Two out of three ain’t bad. The arrival of Target on Monday at Kildonan Place Shopping Centre, Southdale Centre and Brandon’s Shoppers Mall was actually done in concert with Sobeys. The Nova Scotia-based grocer signed a long-term agreement with Target in the fall of 2011 to be its wholesale distributor for “select food and grocery products.” Read more: https://www.winnipegfreepress.com/business/sobeys-a-partner-as-target-arrives-206753381.html
“Rona faces challenges despite overhaul” by Bertrand Marotte at Globe and Mail. “The board of directors has been shaken up, a new chief executive officer is in charge, and a senior vice-president whose mission is to improve operational efficiencies has been hired. The folks at Rona Inc. say the pieces are coming together in a top-to-bottom renovation of the home-improvement retailer. Observers will be watching closely for signs of progress when the company unveils first quarter results and holds its annual meeting Tuesday.” Read more: https://www.theglobeandmail.com/report-on-business/rona-faces-challenges-despite-overhaul/article11881167/
“Pinterest redesign cleans up the clutter” by Bree Fowler at The Seattle Times. “The popular link- and photo-sharing website has rolled out an update, one offering people simpler navigation and new ways to arrange their boards to fit their needs. Although the haphazard spirit of Pinterest remains, the site is much less overwhelming.” Read more: https://seattletimes.com/html/businesstechnology/2020963394_reviewpinterestxml.html
“Is the Canadian Housing Market Falling Apart?” by John Carney at CNBC. “Vancouver is not alone. All over Canada there is fear that the country is in a housing bubble that is now in the process of popping. In March, Montreal saw sales decline 17 percent year over year, even while inventory continues to climb. In Ottawa, sales have fallen 16 percent. “A housing correction—or, possibly, a crash—is no longer coming. It’s here,” Macleans magazine declared this past January.” Read more: https://www.cnbc.com/id/100725735
“CVS Caremark Publishes New Corporate Social Responsibility Report” at WSJ. “CVS Caremark today released its 2012 Corporate Social Responsibility (CSR) Report, which gives stakeholders an inside view of the company’s CSR strategy, priorities and performance on its sustainability goals and CSR initiatives. The report is available online on the company’s website at www.cvscaremark.com/CSR.” Read more: https://online.wsj.com/article/PR-CO-20130509-908370.html?mod=googlenews_wsj
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