Thursday Tipsheet: Target Liquidates Today | W.Coast Ports Close in 5? | ‘Ikea Like’ Spam Museum


West Coast ports could shut down in 5 to 10 days by Karma Allen at CNBC. “Traffic at nearly 30 West Coast ports is on the verge of “complete gridlock” and shipping officials have threatened to stop paying dockworkers if a contract deal is not reached soon.” Read more / See the video


…New contract proposal is offered to West Coast dockworkers by Andrew Khouri at LA Times. “McKenna said employers offered a contract with fully paid healthcare and wages that would increase about 3% each year. The maximum pension would rise to $88,800 per year, McKenna said. Under the previous deal, dockworkers made between $25.71 and $41.48 an hour.” Read more


Target hires media executive away from MillerCoors by Nick Halter at Minn./St. Paul Business Journal. “Target hired Stevie Benjamin as vice president of media strategie…Benjamin is leaving her role as senior director of marketing connections at MillerCoors of Chicago.” Read more


Kohl’s: Sales surged back in retailer’s fourth quarter by Alison Bauter at Milwaukee Business Journal. “Kohl’s reported fourth-quarter comparable store sales up 3.7 percent, upping its predicted earning per share to between $4.20 and $4.22. It marks a resurgence after several previous quarters of dipping same-store sales.” Read more


Target Canada liquidation sales get green light, will start today by Marina Strauss at Globe & Mail. “The sales will offer up to 30 per cent off regular prices, Target Corp. spokeswoman Molly Snyder said in an interview. However, refrigerated items such as milk and eggs are no longer being shipped to Target outlets and are already out of stock.” Read more


Humble headquarters: quirky sites where 6 big brands originated by Colleen Kane at Fortune. “Cabela first placed a newspaper ad to sell fishing flies in a local paper, but the ad received just one response. He then lowered his price, and more people responded. From there he grew a mailing list. Dick and his wife, Mary, first ran their burgeoning business from their kitchen in Chappell, Neb.” Read more


Velveeta revives as young and poor shop dollar stores for groceries by Anjali Athavaley at Reuters. “Customers like Troyan are one reason why Kraft reversed course after considering stopping the sale of single-serve packages of Velveeta cheese sauce, which wasn’t moving in traditional grocery stores. After another look at the numbers, Kraft found that shoppers on tight budgets at dollar stores were gobbling up Velveeta sauce in the affordable small size, and the food got a new lease on life.” Read more


Sears bull: Why it won’t go the way of RadioShack by Krystina Gustafson at CNBC. “Instead of viewing the retailer’s deteriorating stores as a reason to be bearish on the stock, they should be seen as a prudent decision that Sears will focus its investments on the future of retail, which is taking place online, Ingham said.” Read more


RadioShack Store Closings to Jolt Some Developers by Matt Jarzemsky at WSJ. “Smaller players house a relatively big share of RadioShack’s stores, analysts said. While giant real-estate investment trusts can more readily absorb the loss of a tenant like RadioShack.” Read more (Subscription)


‘Ikea-like’ design for Spam Museum stirs controversy in Austin by Clare Kennedy at Minn./St.Paul Business Journal. “The drawings prompted some spirited discussion on the Herald’s website. “It is wretched!” said one commenter. “The rest of it looks like Ikea and Crate & Barrel had an illegitimate child.” Read more



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