Tipsheet: Costco +10.8% | Kroger +1.1% | Target +Men | Pilot ‘Cheated Customers’
Costco November Comp Sales +10.8% (+7.9% excluding gas & f/x) “Pre-Thanksgiving and Black Friday/holiday weekend sales fell into the first quarter this year compared to the second quarter last year. Combined, these factors produced an estimated net benefit of approximately 1.5% in the U.S., and slightly less worldwide.” Press release
Kroger Q3 Comp Sales (ex-gas) +1.1% “Total sales increased 4.5% to $27.7 billion in the third quarter…Total sales, excluding fuel, increased 3.0% in the third quarter compared to the same period last year…Expects 2017 Q4 comp sales (ex-fuel) to exceed 1.1%.” Press release
…Reuters: Kroger’s quarterly results top Street as discounts lure shoppers Read more
Michaels Q3 Comp Sales +1.0% “For the fourth quarter of fiscal 2017, the company expects comparable store sales to increase 1.5% to 2.5%…and to open one new Michaels store and close four Aaron Brothers stores.” Press release
The 50 most innovative CMOs in the world in 2017 (Walmart #22, Nordstrom #46) by Tanya Dua at Business Insider. Top 50 list
At Home Q3 Comp Sales +7.1% Press release
Target Lures Guys to Its Stores With Beer and Beard Wax by Matthew Boyle & Alexandra Stratton at Bloomberg. “Target is reaching out to men with ads in GQ Magazine and during televised football and baseball games, hoping to lure guys like Andrew Hart, 23, an analyst in Dallas, who shops at J. Crew and Banana Republic and said he “would never buy clothes at Target,”…But the Goodfellow brand has clicked so far — sales are up more than 10 percent compared with Target’s previous men’s offering.” Read more
Sears comp sales tumbled a whopping 15.3% during Q3 at CNBC. Read more
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Wal-Mart updates suppliers about on-time, in-full progress; effort could raise shipping costs by Kim Souza at The City Wire. “We are working on a system that would give you an appointment at the same time you get the purchase order,” Oldham said. Beland expects Wal-Mart will likely delay the full 95% OTIF implementation well into next year given the perfect storm brewing. He said Wal-Mart is not building additional regional distribution centers and that means it’s going to have to improve the flow in the 42 it already operates.” Read more
UPS picks Walmart exec as new ‘chief transformation officer’ by Eric Mandel at Atlanta Business Chronicle. “Scott Price will join the company…effective Dec. 11, reporting directly to chairman and CEO David Abney…Price is currently executive vice president, Global Leverage, for Walmart.” Read more
Forbes Best States for Business Ranked list
‘I cheated customers and I did it well,’ former Pilot Flying J sales exec tells court by Jamie Satterfield at Knoxville News Sentinel via USA Today. “Brian Mosher considered himself a master at the game of defrauding trucking company customers, and he told jurors Monday that he made sure two of his bosses knew it. “I was hammering for a promotion with the discount savings my (fraudulent) manual rebates created for Pilot,” Mosher testified in U.S. District Court in Chattanooga.” Read more
Target Media Director Nick Jezarian On Data, Creative Versioning And Addressable TV by Steve Ellwanger at Beet.TV. “Target Media Director Nick Jezarian was one of the keynote speakers at the recent Beet Retreat Miami 2017…Creative “is the number one thing that we’re focused on” and “not just letting an investment level or a production budget dictate how much content you’re going to create,” he said.” Video/Read more
Emotional Jean Coutu says farewell after shareholders approve sale to Metro via Montreal Gazette. “I gave my all, my best, in business and my profession,” the company founder said before choking up. Coutu, 90, said he will now devote his time and energy to helping the poor through a foundation established with his wife and family.” Read more
Casey’s Opens 2000th Store Press release
Miniso, Japan’s $2.99-store, plans to open 500 shops by Hollie Shaw at Financial Post. “(It) has been described as Dollarama’s biggest potential threat, but its diverse product range hews more closely to that of Muji or Loblaw’s Joe Fresh brand. After debuting its first six stores in Vancouver in the spring, the retailer, which prices the majority of its items at $2.99, opened its first two Ontario locations last month and a third is opening this coming weekend in Newmarket.” Read more
Black Enterprise’s 300 Most Powerful Executives in Corporate America Press release | List
Alice Walton sells 1,460-acre ranch west of Fort Worth by Max B. Baker at Star-Telegram. “The last price listed for the ranch, its 4,000-square-foot home and 24-stall main show barn was $16.5 million, although two real estate brokers involved in the transaction could not disclose what Three Amigos paid for it.” Read more
Tipsheet Extra Stories
Lumberjacks help Duluth Trading Company introduce Waukesha store
Express Scripts CEO says he sees Amazon as a potential partner
Gap shares fall after Citi downgrades to sell
Amazon is previewing an IOT security service
Simon wants to help startups establish a retail presence in malls
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