“Costco July Comp Sales +5%” “Costco reported net sales of $8.55 billion for the month of July, the four weeks ended August 3, 2014, an increase of nine percent from $7.87 billion during the similar four-week period last year.” Read the release
“Home Depot’s Craig Menear Appears on CNBC” “KELLY EVANS: Have you been involved in succession talks? CRAIG MENEAR: You know, at this point, that is all up to the board and to Frank. I have been given the opportunity to be the president of U.S. Retail and that’s an enormous opportunity and responsibility. And that’s really what I’m focused on right now.” Read the transcript See the video interview
NY Times: “Target’s Newest Dance Partner? Joseph Altuzarra” by Ruth La Ferla. “Yet, sitting at a table with members of Target’s design and creative team, he wasn’t entirely knocked off his chair. “Will there be a voice-over,” he asked, his voice rising, “so that people will know how to say my name?” His concern seemed well founded. Mr. Altuzarra, an A-list personality in fashion spheres (in June, the Council of Fashion Designers of America bestowed on him its Women’s Wear Designer of the Year award) remains something of a cipher to the garden-variety Target “guest”.” Read more
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“Canadian Tire names Michael Medline as new chief executive” at Reuters via Globe & Mail. ” Retailer Canadian Tire Corp. reported a higher quarterly profit and named Michael Medline chief executive, effective Dec. 1. Medline, who will also serve as the president, will take over from Stephen Wetmore, who has agreed to remain on the board in a new, non-executive position of deputy chairman.” Read more
Australia: “Lowe’s/Woolworth’s Closer to Acquisition of Hudson Building Supplies” at Finance News Network. “Hudson operates a chain of stores in New South Wales and Queensland supplying materials, hardware and home improvement products. The Australian Competition and Consumer Commission says it will not block the deal as it will not be likely to substantially lessen competition.” Read more
“Wal-Mart ecommerce expands in Silicon Valley(again)” by Nathan Donato-Weinstein at Silicon Valley Bus. Journal. “Wal-Mart Inc.’s e-commerce operation has quietly expanded yet again, bringing its total presence at Sunnyvale Business Park to about 312,000 square feet. Wal-Mart recently struck a deal to lease about 127,000 square feet in two buildings at 680 and 840 West California Ave. The lease, which was completed several weeks ago and not previously reported.” Read more
USA Today: “Watch out for credit cards issued by retailers” by Lisa Kiplinger at USA Today. “CreditCards.com surveyed 36 retailers from the National Retail Federation’s Top 100 Retailers of 2014, and the retail card with the highest rate was jeweler Zales, at 28.99%, followed by Staples and Home Depot, at 27.99%.” See the rankings / Read more
“Walmart on Campus Store to Open at VCU” at CBS 6. “The new Walmart is part of the company’s Walmart on Campus program. Other colleges involved in the Walmart on Campus include: University of Arkansas, Arizona State University, Georgia Tech and the University of Missouri.” Read more
“ALDI tops among low-price grocery chains in new consumer survey” by Lewis Lazare at Chicago Bus. Journal. “ALDI also ranked as one of top three favorite grocery store chains in America in the new Market Force survey, which polled more than 6,000 consumers. ALDI was third among the top three, behind top-ranked Trader Joe’s and Publix.” Read more
Analyst: “Odds of Dollar General bid for Family Dollar are low” by Jennifer Thomas at Charlotte Bus. Journal. “On Wednesday, FBR Capital Markets & Co. released an analyst note saying that speculation Dollar General is exploring a bid for Family Dollar is likely tied to fiduciary responsibility and a need to placate investors.” Read more
“Research shows men are more likely to shop on mobile than women” by Jiaxi Lu at Washington Post. “Women control about 80 percent to 85 percent of household spending, but they account for a much lower proportion of online spending…22 percent of men bought something on their phones while 18 percent of women did; 20 percent of men made purchases on their tablets, compared with only 17 percent of women.” Read more
Claim: Hannaford/Delhaize is Rumored Bidder for Market Basket by Casey Ross & Callum Borchers at Boston Globe. “A supermarket company has emerged as a serious bidder for the Market Basket chain…The unidentified potential buyer has expressed a willingness to acquire part or all of the 71-store chain, according to people briefed on the offer.” Read more
“Roundy’s Q2 Comp Sales Down 2.2%” by David Schuyler at Milwaukee Bus. Journal. “The declining sales at its core markets were offset by sales from its growing Mariano’s chain in the Chicago area. The company opened seven stores, including six Mariano’s, during the quarter.” Read more
“Hidden camera catches Walmart and Target employees lying to customer on the phone” by Joey White at 22 Words. “Recently, Jack Vale called Walmart and Target to see if they had various products in stock…while a cohort was inside the store filming the employee to see if they actually looked for the items in question.” See the video
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