Monday’s Eye-on-Retail Tipsheet: H.Depot Co-Founders Manse on Block | Wmart Boosts Self-Checkout | CVS Fined $20 Mil |


“Home Depot Co-Founder Bernie Marcus’s Mansion on Block for $3.2 Mil (Includes Heated Driveway)” by Josh Green at Curbed.  “Who knew Bernie Marcus was big-pimpin’ like this? Property records confirm this stylish, 10,000 square-foot estate near Sandy Springs belongs to the Home Depot co-founder, aquarium benefactor and philanthropic all-star. Sotheby’s has listed the property at $3.2 million, and that includes the hugely unnecessary heated driveway.”  See the pictures


“At Target, innovation begins from within” by Thomas Lee at Star-Tribune.  “Behind the scenes at Target, the cultural changes have been dramatic. Teams of executives regularly evaluate new technologies, whether they have originated from Target’s newly minted innovation center near Silicon Valley or from corporate employees. A dedicated group of technology and business strategists now try to quickly test inventions in individual stores. Every day, about 50 employees flock to Hi Tech, a Genius Bar-like support center where specialists offer personal IT help.”  Read more


“Walmart boosts Scan & Go self-checkout with mobile coupons” by Chantal Tode at Mobile Commerce Daily.  “Walmart continues to ramp up its mobile in-store Scan & Go program by giving users the ability to clip coupons by tapping their smartphones and having the savings automatically applied when they check out.”  Read more


“Martha Stewart Continues Slide at Home Depot” by Gary Bourgeault at Seeking Alpha.  “When asked about the lower number of SKUs at its other major partner Home Depot during its latest earnings call, Chief Administrative Officer & General Counsel Daniel Taitz downplayed the issue, and instead pointed to paint sales rebounding in the quarter. That doesn’t exactly generate confidence, and is a way, in my opinion, to say the company is struggling at Home Depot as well, which was confirmed in the recent earnings report where royalties from the Home Depot were reported to have fallen.”  Read more


“CVS Caremark set to pay $20 million to resolve SEC investigation” at Reuters.  “The drugstore and pharmacy benefits management company said the settlement will be entered on a “no admit or deny” basis, resolving a number of alleged violations of the Securities Act of 1933 and the Securities Exchange Act of 1934, including some anti-fraud provisions.”  Read more


“Harris Teeter considered being acquired since 2011” by Ely Portillo at Charlotte Observer.  “Matthews-based Harris Teeter was in talks with other companies about a merger or acquisition as early as April 2011, according to securities filings late Friday, and more than a dozen potential suitors expressed interest before Kroger Co. won the bidding.”  Read more


“In Mastering Machine Intelligence, Google Rewrites Search Engine Rules” by Peter Yared and Cameron Olthuis at Techcrunch.  “Google has produced a car that drives itself and an Android operating system that has remarkably good speech recognition. Yes, Google has begun to master machine intelligence. So it should be no surprise that Google has finally started to figure out how to stop bad actors from gaming its crown jewel – the Google search engine. We say finally because it’s something Google has always talked about, but, until recently, has never actually been able to do.”  Read more


‘Foreign retailers may not enter India before 2014 elections’ at Vancouver Desi.  “Foreign retailers like Walmart, Tesco and Carrefour are unlikely to enter the supermarket business in India before the 2014 general elections even though the government has partly addressed their concerns and relaxed the norms, industry experts say.  “Multi-brand retail business requires quite a large investment. I think retailers will prefer waiting to see more clarity,” Anis Chakravarty, senior director, Deloitte in India, told IANS.”  Read more


“Euro zone retail sales back in decline in June, France a bright spot” at Reuters.  “Retail sales in the euro zone fell broadly for the first time in three months in June, data showed, highlighting the drag of depressed household spending on the bloc’s fragile recovery.  The European Central Bank is hoping for a gradual improvement later this year in the health of the 17-member single currency area, which is likely to be driven mainly by exports and low interest rates.”  Read more


“Kroger Revamps Pricing in Houston” at Supermarket News.  “Kroger Co. this week introduced lower everyday prices on thousands of items at its stores in the Houston market and said it would invest $79 million to upgrade stores in the region this year.  Kroger’s “refresh” initiative in Houston also includes a renewed emphasis on the shopping experience, including faster checkouts, fuel discounts, local products and community relations.”  Read more


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