Friday Tipsheet: Admired: Costco #16, Wmart #38 | Fortune Profiles Cornell | Eataly
Fortune: World’s Most Admired Companies 2015 (Amazon #4, Costco #16, Walmart #38…) See the Top 50 list
…Target falls 19 spots from No. 29 to No. 48 by Nick Halter at Minn./St.Paul Business Journal Read more
Yesterday: Walmart CEO Appears on CNBC “We make wage adjustments all the time. We just decided this is a really good moment to be more bold,” Doug McMillon said in a “Squawk Alley” interview. “Right now we want to make sure everybody is crystal clear how vital our store experience is to our future.” See the video / Read more
Wal-Mart Q4 Earnings Call Transcript Read the transcript
Target Has a New CEO: Will He Re-Energize the Retailer? by Phil Wahba at Fortune. “The Target executives were taken aback. They had just learned that their new CEO, Brian Cornell, had been out on his own with customers, incognito, exploring one of the company’s stores. It was a big departure from the way the process-heavy discount retailer had always operated. Store visits, ostensibly intended as intelligence-gathering missions, were meticulously planned affairs, only slightly less formal than, say, a presidential visit. Every relevant national manager and local functionary would be notified in advance, each step choreographed, the “regular shoppers” handpicked and vetted. About the only thing missing was a brass band playing “Hail to the Chief.”…” Read more
Best Buy follows Target in testing Curbside shopping by Nick Halter at Minn./St.Paul Business Journal. “Best Buy is testing the service at four Bay Area stores. Target is testing it in 11 Bay Area stores.” Read more
West Coast terminal operators bypass union leaders – make contract offer directly to dock workers by Emily Parkhurst at Puget Sound Business Journal. Read more
NY Times: Trappings of Chinese New Year Left at Sea by West Coast Port Dispute by Hiroku Tabuchi & Alexandra Stevenson. “There’s not enough sticky rice to make the dumplings. We don’t have holiday cookies or mung bean cakes. We’re running out of soy sauce,” said Jacklyn Sher, manager of H. C. Foods.” Read more
Amazon Two-Hour Deliveries Come to Prime Members in Brooklyn by Jason Del Rey at Recode. Read more
Haberman hires Target alum as creative director by Clare Kennedy at Minn./St.Paul Business Journal. “Haberman Inc. has hired its new creative director from Target Corp. Jeff Berg joined Minneapolis-based marketing agency in January.” Read more
P&G: Expect most deals to sell brands by summer by Alexander Coolidge at Cincinnati Enquirer. “P&G chief financial officer Jon Moeller told Wall Street analysts the impact of total divestitures will reduce the company’s annual sales by 14 percent, up from a previous figure of 10 percent. P&G officials said the change was a “refinement” of their brand-shedding plan.” Read more
Target Canada steps up discounts by Hollie Shaw at Financial Post. “On Thursday, Target was specific in its e-mail blast to customers — the 40% off cuts applied to goods including magazines, books, CDs and DVDs and paper products. Groceries and household products such as cleaning supplies and diapers are now 20% off.” Read more
Eataly Charms the World With Italian Fare and Flair by Austin Carr at Fast Company. “Eataly’s business is booming. This location, across from Manhattan’s Madison Square Park, is doing $85 million in annual revenue. Its even larger counterpart in Chicago, which opened in late 2013, is on pace to hit $50 million this year, nearly matching the gross sales of its flagship store in Turin, Italy. And that’s on top of the 15 other Eataly locations in Italy; the 11 in Japan; and the large-scale outposts soon opening in London, Hong Kong, Moscow, Munich, Paris, São Paulo, Sydney, and Toronto, among other cities.” Read more
Celebrate This Terrible Winter With The Highlights Of Amazon’s Summer Preview by Anthony Ha at TechCrunch. “Amazon.com hosted a summer preview event in New York City today, and I’ll be real honest: I thought there was going to be more tech stuff.” See the video / Read more
Rite Aid Announces First-Ever Innovation Challenge “If a product idea is chosen, the creator will be receive a $2,500 advance along with ongoing royalties from product sales and be named as the inventor on any patent issued. There is no limit to the number of ideas that may be selected.” Read more
Nordstrom Q4 Comp Sales +4.7% Read the release
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