Tipsheet: CBD Hearing 5/31 | Wgreen Miss | WM/Google Team | Saks Chief Q&A


Walgreens shares plunge on quarterly earnings miss, weak outlook at Fox Business. “The nation’s largest drugstore chain now expects full-year earnings for 2019 to be roughly flat — compared to its previous guidance of 7 percent to 12 percent growth.” Read more


Weak February US retail sales underscore slowing economy at CNBC. “Retail sales dropped 0.2 percent as households cut back on purchases…Data for January was revised higher to show retail sales increasing 0.7 percent instead of gaining 0.2 percent as previously reported.” Read more


Walmart, Google make grocery shopping easier with new voice ordering by Zlati Meyer at USA Today. “Starting Tuesday, all you have to do is say, “Hey, Google. Talk to Walmart” and start adding food to your cart. It uses your order history to know what product you mean when you say, for example, “orange juice.” Read more


Amazon is now accepting cash at the Mexican corner-store chain Oxxo, which has nearly 18,000 locations in the country. via Business Insider. Read more


Walmart unit Flipkart sets up Israel R&D center at Economic Times. “The company is putting in place a management team and setting up an R&D center focusing on cyber security, cloud computing and data protection while actively scouting for acquisitions in the country.” Read more


Whole Foods will slash prices on hundreds of items starting Wednesday at CNBC. “…with a focus on produce, such as greens, tomatoes and tropical fruits. Customers will save an average of 20 percent on the new reduced-price items.” Read more | Press release


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FDA sets first hearing on CBD for May 31 as the agency looks at legalizing the cannabis compound to add to food and drinks at CNBC. Read more


Macy’s names Ex-Michaels exec Dennis Mullahy Chief Supply Chain Officer Press release


Target to host first NewFronts, promising a ‘spectacular’ event at Ad Age. “It’s expected Target will make an announcement in the form of original programming, according to one agency executive, who also believes it’s possible they will announce an acquisition…(Walmart) will also host its first dog-and-pony show on May 1, highlighting its Vudu streaming service. Vudu plans to debut a remake of “Mr. Mom.” It has also discussed plans to introduce shoppable ads.” Tiered subs.


Saks Fifth Avenue chief aims to lure shoppers with ‘the new luxury’ by Anne D’innocenzio at AP via Seattle Times. “Q. What’s the reason for shoppers to come to Saks stores? A. I believe luxury is theater…Friends of mine who are in banking or are doctors always say to me, why would I want to buy something in your store, when I can buy it online? And I say to them, why don’t you just stream “Hamilton” on Netflix? Q&A


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