Tipsheet: Best to Work for: Wegmans #4/Target #14 | GameStop CEO Search | Ace CEO Honest |
100 Best Companies to Work For (Wegmans #4, Target #14, Publix #42) Top 100 list
Gap to Replace Longtime Credit-Card Issuer Synchrony With Barclays at Wall Street Journal. “Barclays will take over Gap’s private-label and co-branded credit cards, including Athleta, Banana Republic and Old Navy, the people said. The portfolio includes some 11 million open card accounts, some of the people said, with total balances of roughly $3.8 billion at the end of March.” WSJ subs. | MarketWatch
GameStop initiates search for new CEO – sources at Reuters. “GameStop Corp is looking for a new chief executive to replace George Sherman…Sherman’s 25 years of experience have been largely with brick-and-mortar retailers, such as Advance Auto Parts Inc and Home Depot Inc, and his experience is seen as less relevant to the digital transformation, two of the sources said.” Read more
As retailers like Walmart, Macy’s woo customers back, some have to clean up shop at CNBC. “Walmart shares were downgraded by a research firm earlier this year because of its sloppy stores, and Macy’s has been criticized for its poor presentation. Neil Saunders, managing director of GlobalData Retail, said it’s time for retailers to clean up their act — or risk losing customers.” Read more
China’s March exports rise 30.6% as global demand revives at AP News. Read more
Retailers look to innovate and tempt customers back to physical stores at CNBC. “For some time now, retailers have tried to attract customers by creating experiences in store, but they now need to get creative as shopping habits change and customers become more demanding.” Read more
Bed Bath And Beyond Launches “Home, Happier” Brand Campaign “The fully integrated campaign will be anchored by a :30 anthem TV spot airing nationally beginning April 14 and features a suite of creative assets supported by an omni-channel paid media plan…” Press release
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Walmart Owes $115M For Stealing Startup’s Food Tech Law 360 subs.
Nike launches shoe refurbishment program with focus on saving the environment at Fox Business. “The company released videos on its website illustrating how it was going to clean, repair and resell shoes if a consumer returns their product within 60 days…The campaign will launch in 15 Nike stores in the U.S. with plans to expand to retail-based destinations through the year.” Read more
How Ace Hardware beat Covid-19 – and Amazon at Fast Company. “(CEO) Venhuizen is brutally honest about the crisis of motivation that afflicts so many organizations…“The vast majority of the people who do the heavy lifting in business are aimless, purposeless, bored, and disengaged,” he says. “They hate their job; they hate their boss; they hate their pay. It breaks your heart, but that’s where leaders have to begin their quest.” Read more
Retailers urged to re-think police calls for low-level crimes after George Floyd’s death at Star Tribune. “I think maybe years ago when companies started implementing diversity programs, it was because maybe there was a reaction to incidents, [but] now the frame of mind is that we have to be proactive to implement programs,” said Leon Buck, (NRF’s) vice president for banking and financial services. Buck chairs a group of about 90 major retail brands that meets virtually once a month to talk about diversity and inclusion including recruiting and retaining diverse employees as well as retail racism and implicit bias.” Read more
Signet Jewelers raises Q1 and full year guidance – Updated Q1 comp sales guidance +97% – 99% vs. prior guidance of +80% – 84% Press release
Amazon data center targeted in Texas man’s foiled bomb plot, FBI says at Fox Business. “Authorities said Pendley targeted an Amazon web service data center in Ashburn, Va., according to a criminal complaint. In conversations with a confidential source, Pendley said he planned to attack the servers and that his goal was to overthrow “the oligarchy” in the United States, authorities said.” Read more
Tipsheet Extra
MyPillow’s products have disappeared from Costco’s site
A former Target exec is transforming Banner into the ’employer of the future’
Short-seller hits Porch Group, questions its accounting for Lowe’s stock sale
Kraft Heinz ‘Mayochup’ dispute revived by US appeals court
Electric vertical aircraft maker Beta expands to passenger flights in a deal with Blade
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