Tipsheet: Big Lots +0.3% | Rodeo Drive Store +$122M | Wmart Safety Chief Speaks | QuikTrip Heroes
Big Lots Posts Revenue Decline But Raises Forecast via Fox Business. “Sales at stores open at least 15 months increased 0.3%, on the low end of the company’s projected range of between flat and 2%. Revenue fell as the comparable store increase was offset by a smaller number of stores.” Read more
Amazon plans to open a Chicago bookstore in Lakeview by Lauren Zumbach at Chicago Tribune. “(Amazon spokeswoman) Bass said the store, targeted to open next year, will be at 3443 N. Southport Ave., the former location of the now-closed Mystic Celt bar and restaurant.” Read more
…Amazon to build three more bookstores in San Diego, Portland and Chicago at Financial Times via CNBC. Read more
Sephora’s new Michigan Avenue store (#400) features high-tech touches by Brigid Sweeney at Chicago Crain’s. “…will be the chain’s fourth so-called Beauty T.I.P Workshop in the country, named after Sephora’s “Teach, Inspire, Play” mantra…is the first location to use the company’s new digital makeover guide…The new web version features the same sketch of a face; artists add product details and application tips and then email the chart to the shopper.” Read more
How Walmart Won Back Shoppers From Dollar General by Phil Wahba at Fortune. “The price war with Walmart comes at a time so-called food deflation is already pinching all these chains’ sales and profit margins: Dollar General said prices for milk fell 8% and more than 50% for eggs during the quarter.” Read more
Forget About The Home Depot Rivalry: Lowe’s Needs To Hammer Amazon.com by Pam Goodfellow at Forbes. “While it appears that Home Depot might be gaining headway with (Millennials), Lowe’s faces a much larger deficit: -29.0%. Yes, you read that correctly. Over the past year, Millennials have been nearly 30% less likely to shop Lowe’s most often for home improvement compared to the general population.” Read more
Wal-Mart in 2008 Looked Into Authenticity of Cotton Sheets Supplied by Welspun India by Sarah Nassauer & Preetika Rana at Wall Street Journal. “In 2008, a Wal-Mart employee warned headquarters staff that the same supplier currently in question, Welspun India Ltd., might have been selling the world’s largest retailer fake Egyptian cotton bed sheets, according to former employees and documents reviewed by The Wall Street Journal.” Read more (subs.)
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Bijan store on Rodeo Drive sells for a record $122 million by Andrew Khouri at LA Times. “At $19,405 a square foot, the sale to (LVMH) tops the $13,217 a square foot Chanel paid late last year for a Rodeo building it was leasing. At the time, the Chanel deal was a record price on a square-foot basis for retail space in California.” Read more
Nordstrom unloads partial stake in e-commerce shoe company Sole Society by Coral Garnick at Puget Sound Business Journal. “This week, Nordstrom sold part of its stake in Sole Society, which originally started as a shoe membership site founded by HauteLook. Financial details of the sale to Camuto Group were not disclosed.” Read more
Amazon expands Prime Now options with pet-supply deliveries in the Seattle region by Kurt Schlosser at GeekWire. “Amazon announced Thursday that it would begin offering one-hour delivery of pet supplies in the Seattle area from All The Best Pet Care, a longtime chain with 12 locations in the region.” Read more
Advertisers take note of dads’ larger role in back-to-school shopping by Michelle Castillo at CNBC. “Fathers in particular were more likely to use mobile devices to shop for back-to school items. A little over four out of 10 dads said they planned to do at least a quarter of their shopping on mobile, compared to just 24 percent of moms. They also were more likely to make “impulsive” purchases.” Read more
Indian Company Admits ‘Error’ After Target Cuts Ties Over Egyptian-Cotton Dispute by Preetika Rana at Wall Street Journal. “Without any ambiguity the fault is on our side and so it is, let’s say, the error is from our side so I guess we have to take responsibility for it,” Mr. Mandawewala told investors, according to the transcript.” Read more (subs.)
Wal-Mart safety chief implores U.S. Apple audience to act by Tom Karst at The Packer. “(Frank) Yiannas, vice president of food safety and health for Bentonville, Ark.-based Wal-Mart, issued a five-point call to action to the audience of about 400 conference attendees. Calling on the industry to avoid complacency in food safety, he defined complacency as “over confidence and poor metrics.” Read more
New York: Red Apple rescues rival supermarket chain D’Agostino by Richard Morgan at NY Post. “John Catsimatidis’ Red Apple chain, which also owns the Gristedes stores, has set up a revolving credit facility for the cash-strapped D’Agostino operation, the company said on Thursday. Red Apple would also weigh a move to move D’Agostino into a joint venture.” Read more
Costco Auto Program Named Power 300 Company for Third Consecutive Year Press release
Canada Post strike looms by Sarah Niedoba at Canadian Business. “The Canadian Union of Postal Workers (CUPW) presented Canada Post with a 72-hour notice of job action on Thursday evening, hours ahead of a deadline to declare a strike mandate by midnight.” Read more
Teen employees at QuikTrip help save man who was choking at store at Tulsa World. “On Tuesday, Smith, a 56-year-old self-employed entrepreneur, returned to the store at 1946 S. Harvard Ave. to offer the employees similar recognition — and to say thank you. “I was very touched, thankful and quite frankly amazed at how quickly they responded and how fast they were able to help,” Smith said.” Read more
Tipsheet Extra Stories
Bloomberg: Walmart needs to cut Asda loose
CIA, Amazon Training A.I. to Spy on Earth
Lowe’s kicks off $2.5M in renovations at Boys & Girls Clubs
Lucky’s Market gets ready to open its second South Florida store
Amazon launches new hub for car buyers — but isn’t selling them itself
San Diego Tribune: Nordstrom departs downtown after 31 years
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