Inside Target’s Tech Funhouse and Search for Its Next Billion-Dollar Business by Jason Del Rey & Liz Gannes at Recode. “This is the house of the future, but it’s existence shows that it’s also possible in the present. The acrylic abode, dubbed Open House, opens on Friday on the street level below the Metreon City Target store, and it’s the first major manifestation of a big entrepreneurial bet by Target CEO Brian Cornell to re-energize the retailer’s brand and create a new billion-dollar business outside of its comfort zone.” Read more

 

Costco June Comp -1% “Costco reported net sales of $11.01 billion for the month of June, the five weeks ended July 5, 2015, an increase of one percent from $10.88 billion.” Read more

 

Wal-Mart says reshoring not a ‘PR stunt’ by Kim Souza at The City Wire. “We are still at the very early stages of this manufacturing shift. It’s more like a 10- to 20-year cycle. U.S. manufacturers and suppliers have to innovate, apply technology and robotics where they can and they will figure it out,”(Mike) Zinser said.” Read more

 

Forbes: 2015 America’s Richest Families (Walton #1, Meijer #31, Dayton #157) See the rankings

 

J.D. Power: Lowe’s #1 in Appliances “Nearly one-half (46%) of customers who purchased one or more appliances from Lowe’s say they “definitely will” purchase their next appliance from the retailer, compared with the study average of 38 percent.” Read the release

 

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How Restoration Hardware landed in Chicago’s Gold Coast by Melissa Harris at Chicago Tribune. “The building will include dramatic artistic installations featuring collections from renowned designers and artisans across the globe, as well as RH Contemporary Art, a full-service RH Design Atelier and a Rooftop Park & Conservatory with sweeping views of historic Chicago in the distance,” the company said in a statement.” Read more

 

Wal-Mart unveils ‘JUMP’ portal to support U.S. manufacturing agenda by Kim Souza at The City Wire. “To date, Wal-Mart says it has 150 unique projects approved which range in value from $1 million to $370 million across 42 departments. Marsiglio said JUMP also will provide a link to ThomasNet.com, which is used by suppliers and manufacturers to help them locate capacity and component materials across the supply chain.” Read more

 

Target Commercial Interiors is rebranded Atmosphere under new ownership by Kavita Kumar at Star-Tribune. “We’re ready for something different,” said Mike Litwin, who led the business under Target, shaped its sale and is now its chief executive. “We’ve had enough red. It’s not us anymore.” Read more

 

Albertsons Files for IPO Read the release

 

Luxury Brands Dip Toes in E-Commerce Waters by Loretta Chao at WSJ. “With brands including LVMH Moët Hennessy Louis Vuitton SE’s Fendi and French fashion house Chanel now experimenting with online sales, e-commerce is expected to make up 18% of luxury goods sales by 2025.” Read more (Subscription)

 

Tipsheet Extra

Darden gets new CFO from Walmart

Man accused of repeatedly stealing vacuums from Target

P&G reveals why most women would rather skip breakfast than a morning shower

This co. raised $86 Mil to revolutionize the tired, boring world of socks

Aldi and Lidl Are Ready To Invade the U.S. Beware Walmart and Target

How to spot a ‘cyberloafer’ in a job interview

Retail eyeing a cure for the summertime blues

Amazon slashes the price of an unlocked Fire Phone to essentially $60

Read Tipsheet Extra Stories

 

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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