Monday Tipsheet: Target Breach, the Movie | Top 50 CEOs | Top 10 Gas Brands
“Target Breach: Coming to a Theatre Near You” by Jennifer Bjorhus at Star-Tribune. “Sony Pictures Entertainment Inc. confirmed Friday that it is working on a movie based on the security blogger who exposed Target Corp.’s monster data security breach. No production date has been set, a Sony spokeswoman said, but the cyberthriller will be penned by Richard Wenk, a writer and director whose credits include “The Expendables 2” and “The Mechanic.” He also wrote “The Equalizer,” a not-yet-released movie that has Denzel Washington playing a former black ops commando.” Read more
“Interview with Target Canada President Tony Fisher” by Francine Kopun at Our Windsor. “In a rare, unguarded moment, he did not mince words when it came to how he feels about 2013, which saw the retailer open 124 stores across Canada in less than a year and lose nearly $1-billion U.S. “I hope to God it is the most challenging year I ever have in my career,” he said…He admits to challenges. For one thing, expectations were too high, including the expectations Target set for itself. “We bought into a much more aggressive sales rate than what materialized,” said Fisher.” Read more
Glassdoor’s Highest Rated CEOs 2014 (Costco’s Jelinek #1 in Retail / #6 Overall; H.Depot’s Blake #41 Overall) See the Top 50 List
More on Walmart’s New ‘Savings Catcher’ Test…
“Walmart’s ‘Savings Catcher’: Smart but Limited” by Kim Souza at The City Wire. “The program only pertains to grocery. It does not include general merchandise or electronics, which is one of the several ways Wal-Mart has protected itself with this program, according to analysts. “At first glance I like the program. Psychologically, it could resonate with the customers. It should also help to drive in-store traffic…” said Jason Long, CEO of Shift Marketing Group. He said it hasn’t been that long ago that Walmart was the clear leader in low prices in the minds of most consumers. But Dollar Stores, Aldi and aggressive pricing from Kroger, HEB and other grocers have nipped away at that image.” Read more
AP’s take on ‘Savings Catcher’: “The tool isn’t revolutionary” by Anne D’Innocenzio via Charlotte Observer. “Anne Jurchak of Belmont was part of Wal-Mart’s focus group. She said she’s been getting back $5 to $7 on her weekly trips to Wal-Mart in which she typically spends $200 to $250. Jurchak used those savings to buy holiday stocking stuffers and a case for her e-reader. As a part-time marriage counselor and mother of two sons, Jurchak, 41, a said she’s never had time to take advantage of price matching. “They’re doing the work for me,” Jurchak said. “The only thing they’re not doing is putting the groceries away.” Read more
“These Are the 10 Strongest Gasoline Brands — and You’ll Never Guess What’s at No. 1” by Aimee Duffy at The Motley Fool. “That’s right, Costco is at No. 1. It’s almost unfathomable that a company that barely, if at all, advertises for gasoline can take the top spot on this list, but it has. In a way, it’s almost an advantage not being an oil company in this case (you’ll notice BP is not on the list) and generating good feelings with the larger brand.” See the top 10 list
“Former FreshDirect Delivery Workers Sue for Tips” by Vanessa Wong at Businessweek. “The plaintiffs claim FreshDirect’s mandatory delivery charge, which starts at $5.99, should be considered a gratuity that’s owed to the roughly 300 delivery people employed by the company. As a result, they allege that FreshDirect unlawfully takes in at least $23.4 million in gratuities each year.” Read more
CNBC Headline: “Pssst…a peek at retail’s next big thing” 10 stores that could be coming to a mall near you
Speaking of Malls…CBS Sunday Morning’s lead story: “A dying breed: The American shopping mall” “Today, malls across the U.S. are dying. No new enclosed mall has been built since 2006, and Lewis predicts fully half of all our malls will close in the next 10 years. “Why would you get in your car and drive to a mall when you can just reach in your pocket?” asked Strassmann.” Read more / See the video
“Merrill Lynch Defends Home Depot, Says It Is Headed to $100” by Jon Ogg at 24/7 Wall Street. “What investors need to consider is that this $100 price target is the top price target in the Home Depot analyst coverage universe. It is also more than $10 above the consensus $89.60 price target listed by Thomson Reuters.” Read more
Week at a Glance: Earnings Announcements
3/25: Walgreen, HD Supply, Five Below
3/27: Fred’s, Restoration Hardware, Gamestop
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