Target Mgmt Changes | “Egg King” Survives Hit | Costco Bday Party
Target Announces Michael Fiddelke as Chief Operating Officer “Additionally, Target announced the upcoming retirement of chief legal and compliance officer Don Liu…Rick Gomez, currently Target’s chief food & beverage officer, will oversee the retailer’s frequency categories as chief food, essentials & beauty officer…Jill Sando, currently the retailer’s chief merchandising officer, will oversee Target’s discretionary categories as chief merchandising officer of apparel & accessories, home and hardlines.” Press release
…Five Questions with Michael Fiddelke “From a young age, my parents inspired both a strong work ethic and a taste for business. I grew up on a farm in Iowa. It was a small farm, but my dad made sure I had chores to do every morning before I headed to school. That’s where the work ethic set in.” Press release
China launches a security review of Shein at CNBC. “The review squarely positions Shein as a Chinese company despite its many efforts to distance itself from the country where it was founded. To move forward with its IPO, Shein will need the blessing of both Washington, D.C., and Beijing.” Read more
CANADA SUSPICIOUS – Loblaw discount reduction not evidence of grocery collusion: competition expert at Toronto Star. “In a letter to the competition commissioner Tuesday, MacGregor called for an investigation into potential anti-competitive practices in the grocery industry. MacGregor said that comments by Loblaw indicated they changed their discount to align with their competitors, and that this was cause for suspicion.” Read more
Americans Are Ditching Weeknight Fun. Can They Be Tempted Back? at WSJ. “The midweek slowdown could be an early crack forming in consumers’ willingness to spend on experiences—a key corner of the economy that has helped offset slowing spending on goods.” WSJ subs.
J.Crew Group CEO Libby Wadle On What 2024 Has In Store at Forbes
Eggs in short supply in Russia – “The Egg King” survives assassination attempt at WSJ. “Authorities also launched antitrust investigations into egg and chicken producers, including the Tretyakovskaya poultry farm in the Voronezh region, owned by Gennady Shiryaev, the Egg King. On Dec. 27, after news of the probe became public, a shooter fired at least twice on Shiryaev’s Volkswagen SUV, though Shiryaev escaped unscathed.” WSJ subs.
Amazon Business leader taking leave of absence; Devices exec will step in to fill role at GeekWire
Target store in Denver has raised eyebrows for charging a 1 percent ‘public improvement fee’ at Daily Mail. “It is not the first Target to be found to apply the surcharge. Last March, flight attendant Holly Teska went viral on TikTok after claiming she was slapped with a extra 2.5 percent charge on every item she bought from a Target.” Read more
Thief steals more than $39K worth of merchandise from Target stores across Southern California at NY Post
Alphabet’s Wing supersizes delivery drones to tow big orders at TechCrunch. “Walmart said last week that a quarter of the items in its larger Supercenter stores don’t meet the current size and weight requirements for delivery by drone…Wing’s current drones can only handle packages weighing up to a modest 2.5 pounds. Wing’s larger drones, however, will handle “up to 5 pounds in a standard cardboard box,” the company told TechCrunch.” Read more
Uniqlo sues Shein over alleged copy of its popular ‘Mary Poppins bag’ at AP News
Woman throws epic Costco-themed birthday party with food samples, employee badges and photo booth at Fox News. “Tony Huynh also said his wife replicated the Costco supervisor vest, put price tags around items on their home…Guests at the party played Costco trivia and “guess the price” games…A recap video of the party made by a friend has over 373,000 Instagram likes.” Pics/Read more
Lobbying World: Schumer, Amazon alum Lucy Panza to join Crossroads Strategies at The Hill
China widens South America trade highway with Silk Road mega port at Reuters. “The $3.5 billion deep water port, set to start operations late this year, will provide China with a direct gateway to the resource-rich region. Over the last ten years, Beijing has unseated the United States as the largest trade partner for South America, devouring its soy, corn and copper.” Read more
Shoppers sue Target, saying they were rammed by kids on electric scooters at Philly Inquirer
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