Tipsheet: Amazon’s 2nd HQ | H.Depot Plywood Fight | NRF Adjusts | RH +7%
Amazon to build second HQ in North America, seeks proposals from cities for $5B campus with up to 50K jobs, ‘full equal’ to Seattle operations by Todd Bishop at GeekWire. “The company just announced the plan for what it’s calling “HQ2” inviting states and local governments to pitch the company on bringing the new headquarters to their community.” Read more | Press release
Home Depot Taps Up Google Home for Voice Ordering by Phil Wahba at Fortune. “Last month, Walmart made a similar announcement, hoping to catch up to Amazon’s Alexa capability on its Echo devices and offer a service many competitors do. Other retailers also using Google Assistant include Target and Costco Wholesale.” Read more
Toys R Us hires law firm as it explores possible bankruptcy filing by Lauren Hirsch at CNBC. “Toys R Us has hired a law firm to help restructure its roughly $400 million in debt due in 2018, a move that could include the marquee toy store filing for bankruptcy protection, sources familiar with the situation said Wednesday.” Read more
NRF adjusted its forecast for retail sales for 2017, saying sales are now expected to increase between 3.2 percent and 3.8 percent rather than 3.7– 4.2 percent Press release
H-E-B CEO to make $5 million donation to J.J. Watt’s Hurricane Harvey relief fund at Houston Chronicle. Read more
Restoration Hardware Q2 comp brand revenue +7.0% (vs. -3.0% LY) Press release
Over the next three years, GAP expects to add about about 270 Old Navy, Athleta and value expressions across the portfolio, and close about 200 Gap and Banana Republic locations. Press release
…Gap’s Athleta growth bet begins by wooing girls and their moms by Lauren Thomas at CNBC. “”[Athleta Girl] stands a chance and will be aided by the fact that Lululemon has pulled back from its Ivivva girls concept,” GlobalData Retail Managing Director Neil Saunders told CNBC in an interview. “Having an offer integrated into the main Athleta store is more viable than operating stand-alone stores.” Read more
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Staples votes to go private by Donna Goodison at Boston Herald. “Staples Inc. stockholders yesterday overwhelmingly approved the proposed $6.9 billion sale of the nation’s No. 1 office supplies chain to New York private equity firm Sycamore Partners, but rejected “golden parachute” compensation for top Staples executives.” Read more
More Shoppers Head to Whole Foods After Amazon Merger by Heather Haddon & Laura Stevens at Wall Street Journal. “Several Whole Foods employees said they have noticed an increase in sales at their respective stores since the merger, beyond the expected back-to-school rush. A J.P. Morgan & Chase Co. analysis of four days of car traffic to Whole Foods stores found visits were up.” Read more (subs.)
Wal-Mart pledges $250,000 to Girls Who Code by Jeff Della Rosa at Talk Business. “In a Walmart.com blog, Fiona Tan, senior vice president of Customer Technology at Walmart Labs, said the retailer’s contribution to Girls Who Code will help the organization reach its goal of growing from 1,000 clubs to 3,600 clubs in all 50 states.” Read more
Ex-Rite Aid CEO Named GNC CEO Press release
Rent-A-Center execs accused of using company jet for personal trips by Carleton English at NY Post. “Of the 83 flights tracked by ADSBexchange since June 20, 2016, 41 occurred during weekends — often to Grand Rapids, Mich., and Vail, Colo., near where Speese is said to have vacation homes.” Read more
Sears Hometown And Outlet Stores Q2 comp sales -2.1% Press release
Target to roll out exclusive K-beauty brand, growing its makeup offerings by Lauren Thomas at CNBC. “K-Beauty is one of the fastest growing categories in premium skincare at Target,” Mark Tritton, Target’s chief merchandising officer, said in a press release.” Read more
Starbucks Names Rosalind Brewer Group President and Chief Operating Officer Press release
Walmart to Open 1,000th Online Grocery Pickup Location (in Seattle) “In Seattle, the company will be giving away Google Home devices to the first 250 Online Grocery customers in the market.” Press release
Alimentation Couche-Tard Q1 comp merch revenue +1.4% in U.S. Press release
IRMA PLYWOOD BATTLE – Home Depot customer attacked in plywood dispute during Hurricane Irma preps at ABC 10 News. “A fight broke out Tuesday night at a Home Depot store in North Miami as customers sparred about plywood during Hurricane Irma preparations. There were long lines and limited materials at the store as South Florida residents scrambled to stock up on hurricane supplies.” Video/Read more
Tipsheet Extra Stories
Apple, Amazon Join Race for James Bond Film Rights
Starbucks drive-thru causing backups on busy St.Paul road
Shoplifting ring that stole $20M in clothing from San Diego to Schaumburg busted
Amazon under fire for alleged price gouging days before Hurricane Irma
After 46 Years, Mattel Redesigned Uno For Color-Blind People
Al Roker rips Rush Limbaugh for Hurricane Irma conspiracy theories
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