100 Most Powerful People in Business (Bezos #11, McMillon #18, Jassy #26, Tome #59) at Fortune List

 

Home Depot Q3 US comp sales down 1.2% “..reported sales of $40.2 billion for the third quarter of fiscal 2024, an increase of 6.6% from the third quarter of fiscal 2023. Comparable sales for the third quarter of fiscal 2024 decreased 1.3%…” Press release

 

…Home Depot’s Q3 results top Wall Street estimates at AP. “…a marked improvement from the second quarter, when sales at stores open at least a year declined 3.3% and dropped 3.6% in the U.S. Third-quarter customer transactions were nearly flat when compared with the prior-year period, while the amount shoppers spent declined slightly to $88.65 per average ticket from $89.36 a year earlier.” Read more

 

China’s Singles’ Day wraps up super-sized sales event with volume, shopper growth at Reuters. “Alibaba Group, said it recorded “robust growth” in sales and a “record number” of shoppers…JD.com…reported a more than 20% year-over-year increase in shoppers over the event…Data provider Syntun estimated that sales across major e-commerce platforms rose 26.6% to 1.44 trillion yuan over the Singles Day event, which was 10 days longer than last year’s.” Read more

 

REI Names Former Sephora Exec as Marketing Boss to Revitalize the Outdoors Stalwart at WSJ. “REI Co-op named former Sephora executive Abigail Jacobs as its chief marketing officer as it looks to recover from a period of losses, layoffs and stalled sales. Jacobs fills a role that has been vacant since the departure last December of Vivienne Long.” WSJ subs.

 

On Q3 net sales up 32.3% “…fueled by significant acceleration in On’s direct-to-consumer channel, which grew 49.8% year-over-year…net sales through the wholesale sales channel increased by 23.2%.” Press release

 

Target Reveals Holiday Shopping Hours “…extended holiday shopping hours of 7 a.m. to midnight, from Nov. 30 to Dec. 23. For the fifth year, Target stores will be closed on Thanksgiving Day.” Press release

 

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Canadian Union of Postal Workers issues 72-hour strike notice at Toronto Star. “However, the union says its national executive board has yet to decide if a job action will happen at the deadline, saying that will depend on Canada Post’s actions at the bargaining table in the coming days. “After almost a year of bargaining, despite our best efforts, the parties remain far apart on many issues,” the union said in statement.” Read more

 

BJ’s Wholesale Club Names Scott Schmadeke, Executive Vice President, Chief Operations Officer Press release

 

Saks Fifth Avenue cancels famed holiday lights show in apparent cost-cutting measure at NY Post. “It appears the decision to cut the light show was only made within the past few weeks…With the light show now axed, this year’s holiday windows are set to instead display “outstanding pieces from the top names in luxury” alongside colorful snowflakes, silver harlequin flooring and dichroic vinyl…” Read more

 

Port of Montreal locks out dockworkers, adding to supply-chain woes at Financial Post. “The escalation of an ongoing labour dispute will disrupt Canada’s second-largest port…It has been operating far below its container-handling capacity since dockworkers at two terminals walked off the job on Oct. 31…On Canada’s west coast, a separate labour dispute is already disrupting an estimated $800 million of activity per day. British Columbia dock employers locked out workers on Nov. 4…” Read more

 

Amazon developing driver eyeglasses to shave seconds off deliveries, sources say at Reuters. “Amazon is developing smart eyeglasses for its delivery drivers to guide them to, around and within buildings…five people familiar with the matter said…The glasses would also free drivers from using handheld Global Positioning System devices, allowing them to carry more packages.” Read more

 

 7-Eleven, Inc. to expand deployment of Gulp Radio programming to 5,000 stores across the U.S. by the end of 2024 and more than 12,000 stores by the end of 2025 Press release

 

Walmart is testing a new way to make it easier to access locked-up items. at DNYUZ. “…new tech that lets employees use an app on their work device to unlock anti-shoplifting displays for customers…While the system is currently in several hundred of the company’s 4,600 US stores, Bloomberg, which first reported the move, indicated shoppers may eventually have access to the feature as well.” Read more

 

Shopify Q3 2024 Revenue Growth Accelerates to 26% at Yahoo Finance

 

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