Walmart & Sam’s Comp Sales Flat for Q2. Q2 Highlights:
* Consolidated net sales for the second quarter were $119.3 billion, an increase of 2.8 percent over last year.
* Walmart U.S. comp traffic decreased 1.1 percent, while average ticket increased 1.1 percent.
* E-commerce sales positively impacted comp sales by approximately 0.3 percent.
* Excluding fuel, Sam’s Club comp traffic was up 0.3 percent, and average ticket was down 0.3 percent.
* Comp sales for the Neighborhood Market format rose approximately 5.6 percent.
* Walmart International grew net sales 3.1 percent to $33.9 billion.
* Forecasted earnings per share from continuing operations for the full year are expected to range between $4.90 and $5.15, versus previous guidance of $5.10 to $5.45.
CNBC’s Take: “Wal-Mart profit hit estimates, lowers outlook” “The discount retailer also lowered its full-year outlook for continuing operations to $4.90 to $5.15 a share from $5.10 to $5.45 a share.” Read more
“How a 14-year-old lived in Walmart for 2 days” by J.D. Miles at CBS 11 DFW. “Customers who walked down the aisles where the teen was living never noticed two hidden compounds where the boy was able to store necessities, sleep in a makeshift bed and and eat items taken from inside the store…He created a crack in the back wall of the drink aisle to grab juice and even collected a fish from the pet department.” See the pics & video / Read more
“Sneak Peak Inside Wayfair’s new HQ in Boston” by Sara Castellanos at Boston Business Journal. “Our office is an open office structure so you need a lot of collaboration spaces where you can have spontaneous or scheduled meetings,” said Nancy Go, Wayfair’s vice president of brand marketing, in an interview. A sparkling chandelier hangs from the ceiling in one area at the company’s new headquarters. In another area, Andy Warhol-themed wallpaper offers a colorful backsplash.” See the pics / Read more
“Sam’s Club CEO Rosalind Brewer named co-chair of Northwest Arkansas Council” at The City Wire. “The organization has a history of being led by Northwest Arkansas’ top business leaders and executives. Alice Walton was chair when the organization was first established and then John Paul Hammerschmidt took over in 1993.” Read more
“The Church of Superfoods Gains More Believers” by Venessa Wong at Bloomberg. “Nielsen found the most popular superfoods in the produce section are tomatoes, strawberries, oranges, carrots, and iceberg lettuce. The most nutrient-dense foods include watercress, Chinese cabbage, chard, beet greens, and spinach.” Read more
“See-Through Food Packaging Boosts Sales” by Sarah Nassauer at WSJ. “Clear packaging gives products an aura of being natural, something that more shoppers are seeking. Seeing “simple, wholesome ingredients,” can be a powerful motivation to buy, says Ms. Wing-Larson. “You eat with your eyes.” Read more
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“J.C. Penney Burnishes Its Liz Claiborne Brand” by Stuart Elliott at NY Times. “(Former CEO Ron) Johnson eliminated or played down many mainstay Penney house brands, but he “recognized the importance of” Claiborne, said Siiri Dougherty, senior vice president and general merchandise manager for women’s apparel at Penney…Still, the Kantar Media unit of WPP reported that spending to advertise Claiborne in major media yo-yoed from $52,000 in 2011 to $1.1 million in 2012 to nothing last year or in the first quarter of 2014. “I think a lot of things with us have yo-yoed over the years,” Ms. Dougherty said ruefully.” Read more
Happening Today: Walmart To Host Second Annual U.S. Manufacturing Summit in Denver Read the release
Target Lays Out Canada Battle Plan in News Release Read the release
“Amazon Continues Its Higher Ed Book Sales March At Purdue, Offers Staffed On-Campus Pickup” by Darrell Etherington at TechCrunch. “The program at Purdue resembles the one at UC Davis that debuted at the beginning of the year, but with a twist: Amazon is also actually going to be staffing on-campus ‘store’ type locations, reserved for pick-up and drop-off of orders made through the Amazon Purdue store.” Read more
“Ace Hardware Reports Record Q2 Net Income – Up 57% from Last Year” “Increases were noted in virtually every department with the paint, electrical, and lawn and garden categories showing the largest increases. The Company has remodeled and re-equipped over 3,300 stores as part of the new Paint Studio initiative which contributed meaningfully to second quarter wholesale revenues and record retail sales in May.” Read the release
“Macy’s profit rises, but misses Wall Street’s expectations” by Tom Demeropolis at Cincinnati Bus. Journal. “Macy’s lowered its guidance for full-year comparable sales to an increase of 2 percent to 2.5 percent, down from previous guidance of a 2.5 percent to 3 percent increase.” Read more
“Racy GQ cover spells trouble for Lands’ End” by Krystina Gustafson at CNBC. “Angry moms have taken to the company’s Facebook page after receiving the magazine, which features a racy cover of a topless model covered only with a white floral lei, and inappropriate language. It was addressed to recipients as a “Land’s End Bonus.”…”My 14-year-old son brought in the mail today & was quite disturbed & fascinated by a ‘gift’ Lands End sent us…” Sue Skindell Bauman wrote on the company’s Facebook page.” Read more
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