Friday Tipsheet: Menear Congrats | Hollywood Stops Target | D.Tree +4.5%


“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 well-regarded executives who were also considered possible successors to Mr. Blake, will remain with the company.” Read more


“Costco’s Galanti: Minimum wage hike probably won’t mean price hike” by Rachel Lerman at Puget Sound Bus. Journal. “Whenever there’s any type of cost increase, whatever it is…ultimately the last thing that we’re going to do is raise prices,” he said. “Ultimately if some of it has to be borne in pricing, we do. We want to be the last to raise a price based on a cost increase and the first to lower it based on a cost decrease.” Read more


“Why Nobody Calls Target ‘Tarjhay’ Anymore” by Brad Tuttle at Time. “When Target was the media and shopper darling nicknamed “Tarjhay” for its chic fashions and dependable household staples, the perception was that it truly delivered on its slogan “Expect more, pay less.” Target’s big problem is that the motto has rung hollow for quite some time. “The dimension of ‘expect more’ is gone,” said Amy Koo, a senior analyst at Kantar Retail. “As for ‘pay less,” well, pay less than what? Folks are savvier today.” Read more


“Judge orders Target to stop building Hollywood shopping center” by David Zahniser at LA Times. “Target, said Silverstein, proceeded at its own risk after receiving ample warnings about a legal challenge. “Nobody that I represent ever opposed a Target store,” Silverstein said. “What they opposed was blowing the lid off the height and the parking and the other structural requirements that are supposed to … guide development for the future of Hollywood.” Read more


“Dollar Tree Q2 Comp Sales +4.5%” “Consolidated net sales increased 9.5% to $2.03 billion from $1.85 billion in the prior year’s second quarter.” Read the release


“Dollar Tree ‘committed’ to Family Dollar deal” by Jennifer Thomas at Charlotte Bus. Journal. “During Dollar Tree’s earnings call, Sasser said his company will continue to watch the new developments closely. “We look forward to completing our transaction as soon as possible,” he says.” Read more


“Family Dollar rejects Dollar General’s bid” by Eric Snyder at Nashville Bus. Journal. “In its statement Thursday, the Family Dollar board said Dreiling’s letter did nothing to assuage their concerns about antitrust regulations. In its offer to buy Family Dollar, Dollar General had said it was prepared to sell 700 stores to ease potential regulatory concerns.” Read more


“Mexico Bans Commercials for Sugary Products During Children’s Programs” by Amy Guthrie at WSJ. “We’re pioneers in Mexico when it comes to restrictions on publicity,” said Álvaro Pérez, a commissioner at Mexican health protection agency Cofepris who helped establish the advertising parameters. “What we’re looking for is an incentive for companies to reformulate their products so that they’re healthier.” Read more


“Hibbett Sports Q2 Comp +.1%” “We are on pace to achieve our goal of 75 to 80 new stores this year, and continue to be pleased with new store performance.” Read the release 


“Fresh Market Q2 Comp +2.9%” “Management’s outlook for fiscal 2014 – Unit growth of 22 new stores, with 6 new stores opening in the third quarter and 5 new stores opening in the fourth quarter and remodeling 4 to 5 stores.” Read the release


“No Knockoff Here. Meet China’s New Gadgets” by Paul Mozur at WSJ. “In laboratories and startups across China, tinkerers with big dreams are pushing what many in the industry see as a potential new wave of Chinese innovation. They see smart gadgets—wearables and other devices that connect to the Internet or interact with users—as an opportunity to create a Chinese-designed product for a global audience.” Read more


“5 P&G execs best positioned to become CEO” by Alexander Coolidge at “As P&G starts a new fiscal year, here’s how the executive race looks for the five frontrunners. Our assessment is based on the track records that made the five executives serious contenders in the first place, and their latest results when the boss was watching closest…” Read more


“Man Drives Stolen Walmart Shopping Cart to Meet Probation Officer” at Washington Free Beacon. “Eighteen year old Michael Rene Johnson stole an electric shopping cart and rode it to the Metropolitan Court in Albuquerque where he was due to meet his parole officer. His probation officer asked him where he had obtained his unusual ride, and Johnson admitted that he had stolen it from Walmart.” See the video / Read more



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