Monday Tipsheet: Costco & $1 Bil in Aust. | Target’s Tesija Iview | Aldi in China?


“National Retail Federation CEO to banks: Breaches are your responsibility, too” by Phil Wahba at Fortune. “Those are their cards,” Matt Shay tells banks.” Read the interview


“Target healing from breach, though shoppers remain at risk” by Kavita Kumar at Star-Tribune. “The roulette ball came up on Target,” said Charlie O’Shea, an analyst with Moody’s Investors Service. “It’s not as much of a shock as it was before.” Read more



“Video Interview with Target EVP Kathee Tesija” by Jennifer Reingold at Fortune. “She seemed genuinely excited to have Cornell, the company’s first outsider CEO, on board. (She had been rumored to be a vocal critic of Gregg Steinhafel, his predecessor: “Don’t believe everything you read,” she told me when I asked about the rumors.) “We are so excited to have Brian on board,” Tesija said. “His enthusiasm for our guest and our businesses is contagious. And he’s really been fun to work with.” See the interview


Australia: “Expanding low-cost retailer Costco aims for $1bn sales” by Glenda Korporaal at The Australian. “We have hundreds of thousands of members in Australia. We don’t give out exact numbers. It’s the only trade secret we have.”…“The perception that we are like an Aldi store is incorrect,” (Patrick Noone) says. “We are more like a combination of a high-end department store and a Bunnings warehouse.” Read more


“Wal-Mart Bulls Betting on Oil to Light Up Christmas Sales” by Joseph Ciolli at Bloomberg. “Demand for options that protect against future losses in Wal-Mart shares fell to the lowest level in more than five years relative to bullish ones, data compiled by Bloomberg show.” Read more


“Germany’s Aldi eyes China for expansion” at CNBC. “German monthly Manager Magazin said the families that own Aldi – comprising separate groups Aldi Sued and Aldi Nord – decided in February 2013 that they would look into expansion to China, citing the minutes of a recent management meeting.” Read more


Atlanta: “Take a Sneak Peek Inside Restorations Hardware’s Newest/Largest Store” by Amy Wenk at Atlanta Bus. Chronicle. “On Nov. 21, Restoration Hardware Holdings Inc. revealed its largest store to date — the 70,000-square-foot RH Atlanta, The Gallery at the Estate in Buckhead…Built to look like a Southern estate, the 6-story design gallery showcases more products than RH has in previous stores.” Read more.” See the 41 Pics


“Nordstrom nixes big semi-annual sales” by Rachel Lerman at Puget Sound Bus. Journal. “Nordstrom has nixed its four big half-yearly sales in favor of six clearance sales each year, to be set around the holidays.” Read more


“Whole Foods Wants 30 More in Canada” by Paul Vieira at WSJ. “WSJ: What does the Ottawa opening signal? Mr. Robb: That we will continue to invest in Canada. I have said publicly we want to open 35 to 40 stores in Canada. But you can do them only one at a time. We have been in Toronto and Vancouver for over 10 years. And we will be in Calgary.” Read the interview with Co-CEO Walter Robb


“This holiday season, high-end retailers go high-tech” by Abha Bhattarai at Washington Post. “Ugg Australia, the maker of the ubiquitous winter boot, is hoping its first high-tech concept store, which opened two weeks ago at the Tysons Galleria, will catch on. The 2,100-square-foot location doubles as an innovation lab where Ugg can test ideas and approaches before rolling them out company-wide.” Read more


“J.C. Penney holiday starts without the upheaval” by Maria Halkias at Dallas News. “This is the first Christmas in four years that J.C. Penney isn’t confusing customers by discontinuing merchandise, killing coupons, introducing brands or having big chunks of its stores under construction.” Read more



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