Thursday Tipsheet: Costco’s Taiwan Troubles | NLRB vs. Wmart Overblown? | Best Buy Slips .9%
“Costco Taiwan: Pending Legislation Could Force Kirkland to List Product Manufacturer on Label (and Coke to Reveal its Secret Recipe)” by Lauly Li at China Post. “The newly amended food safety regulations stipulate that food companies must label all food additives on their products…(today) Costco’s Kirkland does not have to reveal the manufacturers of its products to the public, Chang said, noting that according to trade secret norms, the company cannot tell the public which manufacturers signed a contract with it… however, if Costco has to “survive” in Taiwan, then it must follow the MHW’s regulation.” Read more
“Costco’s Web Page Download Time Second Only to Apple; Over Twice as Fast as Walmart.com” by Jon Love at Internet Retailer. “Costco.com also finished in second place in Internet Explorer tests at 0.54 seconds, followed by Amway.com (1.30 seconds), Walmart.com (1.31) and Dell.com (1.57).” See the Chart Ranking 22 Retailers
“Breaking: Best Buy’s Holiday Same-Store Sales Slip .9%” “Joly added, “However, our holiday revenues were negatively impacted by a number of factors, including: (1) the aggressive promotional activity in the retail industry…(2) supply constraints for key products; (3) significant store traffic declines between “Power Week” and Christmas; and (4) a disappointing mobile phone market.” Read more
“Senate panels fight for a piece of Target” by Jessica Meyers and Kevin Cirilli at Politico Pro. “At least three Senate committees want a piece of the recent catastrophe…Lawmakers, who have failed repeatedly to pass data security legislation, see an opportune moment to revisit the controversial topic. And more important, it offers Congress a well-publicized chance to play the good guys. “There’s an awful lot of turf consciousness, which is really sad because it’s such a profound safety subject for America,” Senate Commerce Committee Chairman Jay Rockefeller (D-W.Va.) said in an interview.” Read more
“J.C. Penney closures: Could more be on the way?” by Danielle Abril at Dallas Business Journal. “I would think it would’ve been much more than that,” McGough said. “They have a lot more marginal locations.” McGough said this could be just the first announcement of 30 or more store closures that could come within the next year or so.” Read more
“Walgreen CEO, Greg Wasson, Presents at J.P. Morgan HealthCare Conference” See his PowerPoint presentation
“Sears Canada to cut 1,628 jobs” by Marina Strauss at Globe & Mail. “The cuts will leave Sears with just over 20,000 staff, down from about 24,000 a year ago and 31,000 two years ago as the retailer finds new ways to operate more efficiently, spokesman Vincent Power said.” Read more
NLRB complaint against Walmart overblown in Media? Walmart claims: “is just a procedural step” by Kim Souza at The City Wire. “Wal-Mart has said that about 117 workers were fired or disciplined for participating in the last year’s strike on Thanksgiving Day. Wal-Mart spokeswoman Brooke Buchanan previously told The City Wire that it acted within the law. “We take this very seriously. We believe our actions were legal and justified,” she said. On Wednesday Buchanan continued the theme, adding that the “merits of the complaint” have not been debated and that the NLRB action “is just a procedural step.” Read more
“Toronto’s Eaton Center: Goodbye Sears…Hello Nordstrom!” by Hollie Shaw at Post Media News via Vancouver Sun. “Department store retailer Nordstrom has inked a deal to open a store at Toronto’s Eaton Centre, a move seen as inevitable after current tenant Sears announced it will vacate the site next month.” Read more
“NFL Coach with $25 Million Contract Wears $8 Walmart Khakis During Games” by Ryan Glasspiegel at The Big Lead “Jim Harbaugh wears pleated khaki pants, a fashion trend that died a couple decades ago. His wife is not a fan of them. Actually, she’s embarrassed for him.” Read more / See the Walmart pic
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