Tipsheet: Cornell Talks Tariffs | HEB/Wegmans = Top CEOs | Largest US Mall Approved
Target’s CEO says retail industry will fight negative impact of tariffs by Jim Spencer at Star Tribune. “Until we see the final plan, it’s hard for us to react to it,” Cornell said. “But we’re watching it carefully to see what categories [of products] are going to be affected.” Read more (Tiered subs.)
Starbucks says it will close 150 stores next year at CNN Money. “The company told investors late Tuesday that it expects same-store sales to grow just 1% for the quarter that begins next month, lowering its previous guidance.” Read more
Amazon’s ‘Hub’ apartment delivery lockers now available to 500K residents across U.S. by Taylor Soper at GeekWire. “…it accepts packages not just from Amazon but from any sender, shipped via any carrier.” Read more
Canada Senate approves recreational use of marijuana at Reuters. “The Senate voted 52-29 in favor of the revised bill from the elected House of Commons, paving the way for a fully legal cannabis market within eight to 12 weeks.” Read more
How Liberals and Conservatives Shop Differently by Nailya Ordabayeva at Harvard Business Review. “In one study, participants chose between coffee mugs that would be customized with their names and the message “Just Better” or “Just Different.” Conservatives were 2.2 times more likely than liberals to choose the mug that signaled superiority (“Just Better”) over the one that signaled uniqueness (“Just Different”).” Read more (Tiered subs.)
To Reach Millennials, High-End Jewelers Try New Products—and Approach by Ray A. Smith at Wall Street Journal. “De Beers added nightclub touches to its sleek new Libert’aime by Forevermark store in Shanghai. The shop, which opened last month, has a scented VIP lounge for big-ticket purchases and a “diamond bar” with jewelry meant to be worn every day. One wall features an enormous detail of a diamond, where browsers can take Instagram-friendly selfies surrounded by gleaming facets.” Read more (Subs.)
Walgreens shares enters the Dow on June 26 at MarketWatch. Read more
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Academy Sports to expand amid challenging retail market by Paul Takahashi at Houston Chronicle. “(Academy) has more than 21,400 workers nationally, down from 22,600 the previous year. The layoffs included 100 employees at headquarters last July and nearly 200 IT workers and drivers in the first quarter of 2018.” Read more (Tiered subs.)
This start-up is using polymer science to make avocados last longer — and it just scored a deal with Costco at CNBC. “While some argue it might be tough to win over customers who might be wary of a coating – albeit tasteless – on their produce, Rogers challenges customers to take a bite out of Apeel’s fruits and vegetables.” Read more
L.L.Bean Launches First-Ever Outdoor Coworking Space “Be an Outsider at Work” will launch in New York City’s Madison Square Park on Thursday, June 21st and be open to the public from 9 a.m. to 6 p.m., complete with wifi, power and collaborative workspaces.” Press release
A pint-sized Kmart store opens inside a Sears store in Brooklyn, and more may be on the way at CNBC. Read more
Florida Officials Approve Plan to Build Largest U.S. Mall by Esther Fung at Wall Street Journal. “American Dream Miami would also be the most expensive mall ever built…an estimated $4 billion, Triple Five says. The cost would include 2,000 hotel rooms, indoor ski slope, ice-climbing wall and water park with a “submarine lake,” where guests could enter a plexiglass submarine and descend underwater.” Read more (Subs.)
Glassdoor: Top 10 CEOs in the U.S. by Lydia Dishman at Fast Company. “H E B’s Charles C. Butt (98% approval), Wegmans Food Markets’ Colleen Wegman (97% approval).” List
Walgreens and Humana are partnering to create senior health hubs at CNBC. “They plan to open two locations inside Walgreens stores this fall in the Kansas City, Missouri, area with primary care services, pharmacies and other services like a Humana representative to answer seniors’ Medicare questions.” Read more
Buc-ee’s Says Rival’s Proposed TM Injunction Too Weak by Michelle Cassady at Law 360. “Buc-ee’s Ltd. has told a federal judge that despite losing a logo trademark infringement trial last month, competitor Choke Canyon has proposed an injunction that would let it keep using a black-and-white version of its offending logo.” Read more (Subs.)
Big brands battle it out off the pitch at World Cup at Reuters. “…the branding of non-sponsors is strictly policed inside all official venues…So if a hungry fan selects “chocolate with crispy wafer,” a Kit Kat will appear, while it is not hard for them to guess the brands behind a “chocolate bar with peanut caramel” or snack labeled “chocolate with coconut”.” Read more
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