Fairway Files for Bankruptcy, Plans to Sell Five NYC Stores at Spectrum News NY 1. “Fairway Market has announced it is filing for Chapter 11 bankruptcy protection and has agreed to sell five of its 14 stores and a distribution center. The price of the deal with Village Supermarket, owner of the ShopRite chain, is about $70 million and was announced Thursday morning.” Read more
The Top 25 Philanthropists In America by Jennifer Wang at Forbes: Walton Family #5 / eBay founder Pierre Omidyar #9 / Bernard & Billi Marcus #21 List
They Changed the Way You Buy Your Basics by Lawrence Ingrassia at NY Times. “Not long ago, it would have been difﬁcult to imagine that a start-up company could take signiﬁcant sales from Gillette…Astonishingly, Dollar Shave Club and Harry’s, a rival launched a year later, have done just that. By 2018, the two start-ups together had grabbed nearly 14 percent of U.S. razor blade sales…” Tiered subs.
Target CIO Helped Retailer Find Its Tech Groove by Sara Castellanos at Wall Street Journal. “Today, Target has about 4,000 IT employees, more than 80% of whom are full-time software engineers and developers. Before Mr. McNamara took over, the company had about 10,000 IT workers…The retailer can do more with fewer employees, Mr. McNamara said, because senior management prioritizes only technology initiatives that have a direct impact on business objectives such as revenue growth.” WSJ subs.
The world’s most sustainable corporations 2020 at Corporate Knights: H&M #27 / Adidas #55 / Campbell Soup #93 Top 100 list
Facebook, Amazon and Apple set records in annual spending on lobbying at MarketWatch. “Amazon has reported spending $16.1 million in 2019 vs. $14.4 million a year ago, and Apple said it put forth $7.4 million, topping its 2018 outlay of $6.7 million and its 2017 total of $7.2 million.” Read more
As Mobile App Downloads Swell, Amazon, AliExpress and Walmart Lead Retail at WWD. “Downloads are largely fueled by emerging markets, including India, Brazil and Indonesia,” the researchers said. “Consumers in mature markets like the U.S., Japan and [South] Korea have seen download growth level off, but are still seeking out new apps.” Tiered subs.
Express closing 91 stores by Nathan Bomey at USA Today. “Express had 411 primarily mall-based retail stores and 215 outlet stores as of Nov. 2, according to a public filing.” Read more
**A message from Sweets & Snacks Expo. Save the date: May 19-21, 2020 at McCormick Place in Chicago. Your year starts here. Website/Register
CVS co-founder Ralph Hoagland III is dead at 86 by Chauncey Alcorn at CNN. “Hoagland and his business partners, Sid and Stan Goldstein, started selling health and beauty products out of Hoagland’s apartment in Lowell, Massachusetts, in 1963, establishing the world’s first Consumer Value Stores location.” Read more
Union membership falls to record low of 10.3 percent at The Hill. Read more
Hy-Vee announces changes to its executive team at Progressive Grocer. “Jay Marshall elevated to vice chairman…(Marshall) will continue to oversee the operations of Hy-Vee’s supply chain and subsidiaries…Darren Baty, current Hy-Vee EVP, will take on the role of chief merchandising officer.” Read more
J.C. Penney’s poison pill is about to expire by Maria Halkias at Dallas Morning News. Tiered subs.
Amazon Music passes 55 million customers as it chips away at Spotify and Apple Music by Chris Welch at The Verge. “There’s still a long way to go if Amazon wants to catch Spotify, which most recently reported 113 million paying customers (and 248 million monthly users overall) back in September. Apple last cited an Apple Music subscriber count of over 60 million.” Read more
Gap looks to ‘redefine’ CMO role as Alegra O’Hare exits after 11 months by Katie Deighton at The Drum. “O’Hare joined from Adidas last February. She was tasked with launching a multi-pronged, 50-year anniversary celebration while building a life raft for the brand at the same time.” Read more
Morrisons, Britain’s No. 4 supermarket group, plans to cut 3,000 management jobs as part of a major restructuring of its workforce that will see 7,000 store jobs created at Reuters. Read more
How Mike Bloomberg Got New York to Eat Its Veggies
Bon Jovi opens pay-what-you can restaurant on college campus
1 Dead, 2 hurt in triple shooting outside Philly Target store
Man says he’s Walmart shooting mystery hero
NYC stores must accept cash payment under bill set to pass Thursday
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