Thursday Tipsheet: Former Target Exec to U.S. Bancorp | Bed/Bath +2.2% | D.Gen Names Interim CFO
Bed Bath & Beyond Q1 Comp +2.2% “The Company is modeling a 2.0% to 3.0% increase for comparable sales for the fiscal 2015 second quarter and continues to model a 2.0% to 3.0% increase for the remainder of the year.” Read the release
CNBC: America’s Top States for Business 2015 (Minnesota #1, Georgia #5..) See the top 50 list
The U.S. Cities Where Creative Jobs Are Thriving via Fast Company See the list
U.S. Bancorp hires former Target exec as SVP by Cody Nelson at Minn./St.Paul Business News. “U.S. Bancorp hired Reba Dominski as senior vice president for its U.S. Bank Foundation and community relations, it said Wednesday. Dominski will oversee the foundation’s grant and volunteer donations, which last year totaled more than $23.5 million in grant funding and over 370,000 volunteer hours.” Read more
Contract changes ask more from Wal-Mart suppliers by Kim Souza at The City Wire. “One pet supplier said their new agreement asked for an additional 1% discount on what was a 20-day payment term, except Wal-Mart now wants to extend that payment window to 90 days. This scenario gives Wal-Mart 105 days between invoice submission and payment.” Read more
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Canadian property owners struggle to find foreign retailers in wake of Target exit by Marina Strauss at Globe & Mail. Read more
Entrepreneur Sells Returned Merchandise by Katie Conner at ABC 15 Arizona. “Scott Fitzgerald buys returned and undamaged merchandise from big box retailers like, Home Depot and then sells them at a fraction of the cost. “We don’t see very many people buy just one item and leave,” said Fitzgerald.” See the video / Read more
Dollar General Appoints John W. Garratt as Interim CFO Read the relase
Albuquerque Walmart makes customers check bags before shopping by Emily Younger at KRQE News 13. “Walk into the Walmart on San Mateo near Zuni and there are signs posted saying backpacks and large bags are not allowed. “I don’t believe it’s right,” said Edward Aragon. “At first, I thought it was crazy,” said Michelle Montano…“This store gets stolen from a lot you know,” said one customer.” See the video / Read more
Two Amazon employees leave to create ‘Mona,’ a Siri-like personal shopping assistant by Tricia Duryee at GeekWire. “In an interview, Mona CEO and co-founder Orkun Atik said nothing has changed in e-commerce since the early 2000’s. “Today, shopping is organized around products, and we want to organize it around people,” he said.” Read more
Digimarc Soars After Wal-Mart CEO Praises its Bar Codes at Zacks via Nasdaq. “Per media reports, Wal-Mart CEO Doug McMillon revealed in an Instagram post that the company is carrying on a test on invisible watermarking – a new bar-coding technology – in one of its labs.” Read more
Martha Stewart deal in flux after Sequential CEO’s blunder by James Covert at NY Post. “Insiders said Shmidman last week leaked the story that Sequential was nearing a Martha Stewart deal before it was finalized. The reports that followed goosed shares to nearly $7 apiece — well above the price of Sequential’s deal. In frantic negotiations last weekend, sources said Sequential was forced to include a so-called “go-shop” provision with its Monday announcement of an offer at $6.15 a share, allowing Martha Stewart to solicit higher bids for 30 days.” Read more
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Eye-on-Retail Tipsheet is created early every weekday morning and read by retail merchants and executives worldwide. We love data, earnings reports, executive presentations and stories off the beaten path that get at what’s really happening in the world of retail. See our website at www.eyeonretail.net