Target CEO Brian Cornell reiterates forecast, apologizes to customers for weekend outages at CNBC. “There was no impact to the company’s earnings forecast as a result of the outage, said Cornell in an interview on Wednesday with CNBC’s Becky Quick on “Squawk Box.”…“Within a couple of hours, our teams were able to identify the root cause and push the fix to our stores and get us back up and running,” he said. “But disappointing performance.” Video/Read more
Walmart’s Kickstarting a $1 Trillion Driverless Delivery Market by Keith Naughton & Matthew Boyle at Bloomberg. “This area has the least number of obstacles and the most certain return on invested capital in the near term,” said Mike Ramsey, an analyst with consultant Gartner Inc. “If you’re looking to start a business where you can actually generate revenue, this has fewer barriers than the taxi market.” Tiered subs.
Former CVS exec can’t work for Amazon’s PillPack, judge rules at Reuters. “…saying that allowing him to take a job where he would help drive its “disruptive strategy” would violate a non-compete agreement.” Read more
Walmart hosted a prep day Tuesday (June 18) for participants for this year’s Open Call event, to be held Wednesday at HQ by Kim Souza at Talk Business. “More than 500 businesses from across the globe are in Northwest Arkansas this week trying to get their products on Walmart shelves. This is the sixth year Walmart has held the Open Call…” Read more
Amazon Air cargo network adding 15 more planes, with fleet expected to hit 70 by 2021 by Kurt Schlosser at GeekWire. “Amazon Air launched in 2016 and now operates out of more than 20 U.S. airports. New facilities will open this year at Fort Worth Alliance Airport, Wilmington Air Park, and Chicago Rockford International Airport.” Read more
Apple Is Reportedly Asking Suppliers to Shift at Least 15% of Output from China at Fortune. Read more
Stop & Shop president stepping down by Jonathan Ng at Boston Herald. “The shake-up comes months after an 11-day strike in April in which more than 31,000 employees walked off the job, disrupting 246 of Stop & Shop’s 415 stores…McGowan will be replaced by Gordon Reid, president of Giant Food…” Read more
These are the top 100 CEOs in 2019, according to actual employees (HEB’s Butt #2, Best Buy’s Joly #9, Costco’s Jelinek #42) at Glassdoor. Top 100 list
**A message from BK Resources: The ION Antimicrobial Handsink is infused with Silver Ions to inhibit the growth of millions of germs. Sell sheet
Lululemon unveils its line of personal-care products as it tries to grow beyond apparel at CNBC. “Lululemon’s dry shampoo will cost $34. The deodorant is $18, the face moisturizer is $48 and the lip balm is $14. These first three items are also available in travel sizes.” Read more
Barnes & Noble Q4 comp sales -2.3% Press release
Target’s Media Company Is Enhancing Programmatic Offerings With a New Partnership by Diana Pearl at Adweek. “Roundel is teaming up with Index Exchange for an easier process with fewer platforms.” Tiered subs.
Apple expands authorized repairs to around 1,000 Best Buy stores by Brian Heater at TechCrunch. “For Apple, it means covering customers in locations like Yuma, Sioux City and Bismarck. This brings its total third-party authorized service locations up to 1,800 in the U.S.” Read more
Apps help find unsold food and reduce waste at AP News. Read more
How 13 Became the Internet’s Age of Adulthood by Julie Jargon at Wall Street Journal. “At 13, kids are still more than a decade from having a fully developed prefrontal cortex…And yet parents and educators unleash them on the internet at that age—if not before—because they’re told children in the U.S. must be at least 13 to download certain apps, create email accounts and sign up for social media.” WSJ subs.
Tipsheet Extra Stories
Walmart eliminating 569 accounting/finance jobs in North Carolina
Inside the final days of New York’s iconic beauty store Ricky’s
FAA pushed to allow drone deliveries
Target employees share their stories from the retailer’s weekend register crash
Netflix recommends these three TVs for 2019
Pharmacy warns FDA of cancer-causing chemical found in widely used heart pill
Eye on Retail Tipsheet is must-read material for retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.
Subscribe to Eye on Retail Tipsheet here
Contact us: Send story tips, press releases and advertising inquiries to email@example.com