Thursday Tipsheet: Costco Comp +5% | Target CIO Out | Staples Shutters 225


“Costco Same-Store Sales +5% in Q2”  “Net sales for the quarter increased six percent, to $25.76 billion, from $24.34 billion last year. Net sales for the first half increased six percent, to $50.22 billion, from $47.55 billion last year.”  Read the release


“Costco Quarterly Profit Falls 15%” by Anna Prior & Josee Rose at WSJ.  “For the quarter ended February 16, Costco reported a profit of $463 million, or $1.05 a share, compared with $547 million, or $1.24 a share, a year earlier  Read more


“Kroger Reports Q4 Earnings This Morning”  Listen to Webcast at 10 am ET


“Target’s CIO resigns amid breach investigations” by Jennifer Bjorhus at Star-Tribune.  “Brian Yarbrough, a consumer analyst at Edward Jones & Co., said Target is making a statement that it needs to take its technology game “to the next level.”  “I’m sure for somebody this will be a great role,” Yarbrough said. “You can come in and look like a hero.”  Read more


“Where will Target find new CIO? Not at Target” by John Vomhof Jr. at Minn/St.Paul’s Bus. Journal.  “Target CEO Gregg Steinhafel announced that the company will seek an interim CIO, someone to fill the newly elevated role of chief information security officer and a chief compliance officer. And he emphasized that all three of those positions will be filled from outside the company, using the word “external” or “externally” three times in the two-paragraph statement.”  Read more


“Home Depot CFO Carol Tome Sells Outsized Stock Position (Unhappy over succession planning?)” at WSJ.  “Carol Tomé made her largest-ever sale of Home Depot Inc. stock on Monday, days after the company signaled that its finance chief isn’t in line to become its next CEO.  Ms. Tomé, Home Depot’s CFO for the past 13 years and once presumed to be on a short list of candidates to replace Chief Executive Frank Blake when he retires, sold 326,610 shares. That’s more than triple her next-largest previously reported sale of 100,000 shares”  Read more


Tempkin 2014 Experience Rankings:  Top Retailers Ranked (HEB #1, Sam’s #8, Costco/BJ’s #22) by Michael Johnsen at Drug Store News.  “Based on a study of 10,000 U.S consumers, H-E-B, Trader Joe’s, Chick-fil-A and Publix earned the highest scores in the 2014 Temkin Experience Ratings.”  See the top 29 list / Read more


“Walmart to expand in e-retailing in India, planning marketplace model akin to Amazon, eBay” at Economic Times.  “Sources familiar with the world’s biggest retailer’s plans told ET that a team of 15-17 people under Walmart India’s COO Arvind Mediratta and including global veteran and V-P for operations in the India office, Steve Rodrigues, have been working on developing an electronic platform that is expected to go live in the next three to four months.”  Read more


“7 Weird Things An Ikea Survey Found Out About Americans” by Dan Nosowitz at Fast Company.  “Fact 1. Only 1% [of those surveyed] want their home to reflect how successful they have been.  Analysis: This may seem surprising, but in fact Americans often choose to lie to surveys to make themselves appear more humble.”  Read more


“Staples Q4 Same-Store Sales Down 7%; Will Close 225 Stores”  Read the release


“ remodels, eyes big expansion after Lowe’s deal” by Brier Dudley at Seattle Times.  “Ehrlichman wouldn’t share sales but said they’ve accelerated since the Lowe’s deals. Its services are now highlighted in 139 stores, mostly in the South, but will be extended nationally later this year”  Read more


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