Tipsheet: Costco +5.1% | Coface Cuts Neiman? | Krogers Ponies Shelved?
US adds modest 136,000 jobs, lowering unemployment to 3.5% at AP. “All told, the September jobs report is likely to keep the Federal Reserve on track to cut rates later this month for the third time this year to try to help sustain the expansion.” Read more
Costco Q4 comp sales +5.1% / Ecom +19.8% Press release
…Costco earnings call: Richard Galanti on new China store – “200,000 shoppers are now members, which is well above the 68,000 average for a Costco warehouse.” at Fox Business | Call transcript via Seeking Alpha
Chip and Joanna Gaines Are Opening a Hotel in Waco, Texas at Architectural Digest. “Slated to open in 2021, the Gaineses intend to complete an extensive historic restoration of the 53,000-square-foot property, keeping the ballroom and many of the current exterior details, including that iconic archway.” Read more
Walmart exec Bratspies will moderate disability inclusion luncheon in Rogers at Talk Business. “Panelists include: Louis Martin, President, Global Walmart/Sam’s Club at Coca-Cola & Ashley Taylor, COO at Acosta.” Read more
Lenders give Barneys New York until Oct. 11 to find buyer by Lisa Fickenscher at NY Post. “The extension by its lenders — Brigade Capital Management and B. Riley Financial — gives Barneys more time to secure a deal with a fashion trade show executive, Sam Ben-Avraham, who has emerged as the lead bidder to acquire Barneys as a retailer, sources said.” Read more
…Barneys Finds a Potential Buyer in Bankruptcy Court by Suzanne Kapner & Juliet Chung at Wall Street Journal. “The group is led by Sam Ben-Avraham, who founded the hip New York retail store Atrium in the 1990s as well as the streetwear brand Kith and also operates fashion trade shows. Mr. Ben-Avraham is assembling a consortium of retail veterans and brand investors to help fund the bid, the people said…It is also expected to include an agreement with the landlord of its Madison Avenue and Beverly Hills stores, one of the people said.” WSJ subs.
Schnucks to stop selling tobacco products next year by Jacob Barker at St.Louis Post Dispatch. Read more
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MacKenzie Bezos Is Now Worth $36.1 Billion. But Who Is She? by Noah Kirsch at Forbes. “In keeping with character, MacKenzie wouldn’t talk for this story. To shed some light on her, we spent weeks contacting more than 100 friends and former classmates and coworkers; even that yielded only a hazy picture, one of an intensely private but talented woman who has, quietly, excelled at every stage of her life.” Read more
Jessica Adelman, group VP of corporate affairs at Kroger, explains how building a conscious brand creates a profitable business PR Week subs.
Neiman Marcus loses support of top trade-credit firm by Lisa Fickenscher at NY Post. “Coface, one of the three industry’s largest trade-credit insurers, has stopped insuring Neiman Marcus’ inventory receivables — a move that could force some brands to stop doing business with Neiman in the coming weeks, sources said.” Read more
New Disney stores at Target open Friday in 25 locations, featuring ‘Frozen 2’ and ‘Star Wars’ merchandise by Kelly Tyko at USA Today. Read more
Kroger suspends decades-long tradition of pony pictures after customer complaint at WKRC. “We love Kroger. Kroger has supported us for 38 years and we made our living,” Lonnie said. But the Alexanders and their supporters don’t understand how 38 years of loyalty can be put on pause because of one complaint.” Video/Read more
…HOLD YOUR HORSES – Customer who said picture ponies at Kroger were being mistreated pulls complaint at WKRC. “That person has deleted his Facebook post and asked Kroger to bring back the ponies. A Kroger spokesperson told Local 12 it is evaluating the future of the program.” Video/Read more
Tipsheet Extra
Helzberg Diamonds to offer free marriage ceremonies
Best Buy recently opened its first outlet in the Houston area
U.S. helps Mastercard, Visa score victory in Indonesia
Google contractors reportedly targeted homeless people for facial recognition
Target debuts Golden Girls costumes for Halloween 2019
Google Shopping gets a makeover, but it still doesn’t have a prayer against Amazon
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