Family Dollar’s Weak Sales = Wave of Negative Dollar Store Press…

 

“Dollar stores feeling pain from low-income squeeze” by Anne D’Innocenzio at AP via Seattle Times.  “Family Dollar CEO Howard Levine told investors on a call that the poor weather led to numerous store closings, disruptions in merchandise deliveries and higher-than-expected utility and maintenance expenses. But, he said, shoppers’ financial constraints and a discount-driven holiday season also played a role.”  Read more

 

“Fortune:  Dollar Stores Face Tough Times” by Claire Zillman.  “The middle- to upper-class consumer, making $75,000 to $80,000 a year traded down in 2009, 2010, [and] 2011 because maybe one family member lost their job. Those households are trading back up; they’re giving more money to grocery stores and a little to the Targets and Costcos of the world,” says Mitchell.” Read more

 

“Rite Aid Q4 Same-Store Sales +2.1%, front end -.7%” “Revenues for the quarter were $6.6 billion versus revenues of $6.5 billion in the prior year’s fourth quarter. Revenues increased 2.2 percent primarily as a result of an increase in pharmacy same store sales.”  Read more

 

“12 in Dallas-Area Office to Spearhead Wild Oats’ Walmart Business” by Maria Halkias at Dallas News.  “The Addison office is run by a staff of about a dozen, and it’s likely to stay a small operation, Casey said. “We’ve got a brand with a terrific legacy, and we’re just getting started.”  Wild Oats has worked with 20 major food manufacturers to structure a deal to supply Wal-Mart, he said. “We have a very talented group of industry entrepreneurs working with us.” Read more

 

“Amazon Pays People to Quit” at LA Times.  “In a quirk, Bezos also said Amazon offers employees money to leave the company, a program called Pay to Quit, modeled after a similar program at Zappos. Once a year, the company offers $2,000 to quit, adding $1,000 a year, up to a maximum of $5,000. “The goal is to encourage folks to take a moment and think about what they really want,” Bezos said.” Read more

 

“Happened Yesterday:  Staples Starts Offering 3D Printing Services in NY & LA Stores” by Joshua Brustein at Businessweek.  “Anyone can walk in and have Staples crank out a tchotchke—or 1,000 of them—while reveling in the glory of the 3D printing revolution without spending thousands on an actual printer. If the pilot takes off, Staples says it will expand 3D printing services to more stores.”  Read more

 

“Two plaintiffs in Ukiah (CA) Costco lawsuits say they’re unwilling litigants” by Glenda Anderson at The Press Demorcrat.  “Terri Stout has concerns about a proposed Costco store’s impact on her job at the local Lucky supermarket. But she never once considered suing to halt the project and said she was stunned to learn she is named as one of four plaintiffs in two such lawsuits filed by Davis attorney William Kopper.”  Read more

 

“Target Breach Spurs Retail Rush to Accept Tougher Credit Cards” at Businessweek.  “All of Wal-Mart’s 4,838 U.S. stores, including Sam’s Clubs, have the chip-based hardware in place. Of those, 1,000 have turned it on. By the end of this year, the company plans to have the new payment terminals running in all U.S. locations.  “We want to activate early if there are any problems or bugs to be worked out,” (Mike) Cook said.”  Read more

 

“How to Sell to Costco” by Chris Koger at The Packer.  “Oleen Smethurst, general merchandise manager of produce for Costco Wholesale Canada, said she has three questions for every supplier:  What’s new/changing?  What can Costco do better to promote the product?  How can Costco and the supplier become more efficient?”  Read more

 

“Former Best Buy CMO to Head BBDO Office” by Natalie Zmuda at Ad Age.  “BBDO has named former Best Buy CMO Drew Panayiotou as president-CEO of its Atlanta office.”  Read more

 

“Ikea to Build Wind Farm in Illinois” by Julie Wernau at Chicago Tribune.  “The company said the wind farm ultimately will produce 65 percent more electricity than its U.S. operations consume. Those operations include 38 stores, including those in Bolingbrook and Schaumburg, five distribution centers, two service centers and one factory.”  Read more

 

“25 Most Frugal Cities Unveiled by Coupons.com”  “Orlando overtook Atlanta, which had held the top spot for four years running. Tampa landed the number two position, with Washington D.C., Nashville and Charlotte rounding out the top five.”  Read the release

 

Random: “8 of Google’s Craziest Offices” at Fast Company.  See the Pics

 

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Have a great weekend!