Tipsheet: Costco +8.8% | JCP +3.0% | Target Fast App
Walgreens Q1: Retail pharmacy US comp sales +4.7% / US comp retail sales -0.9% “Fiscal 2018 first quarter net earnings attributable to Walgreens Boots Alliance…22.1 percent to $821 million compared with the same quarter a year ago…The decreases in GAAP net earnings…were mainly due to impairment of the company’s equity method investment in Guangzhou Pharmaceuticals.” Press release
Costco December Comp Sales +8.8% (ex-gas & F/X) “The (one additional shopping day) positively impacted total and comparable sales by approximately +2.5% for the five-week December retail month.” Press release
Rite Aid Q3: Revenue -5.6% / Retail pharmacy revenue -3.0% / Comp sales -2.5% (-3.5% in pharmacy comp & -0.5% in front-end comp) Press release
JC Penney’s same-store sales jump 3% during holiday season; shares soar at CNBC. “We are very encouraged with our overall comp sales performance during the holiday season, which was led by home, beauty and fine jewelry,” CEO Marvin Ellison said in a statement. The company added that its e-commerce business posted double-digit sales growth during the holiday season.” Read more
Target’s app wins on speed over a holiday shopping weekend by April Berthene at Internet Retailer. “Target’s app loaded the fastest at 2.1 seconds on average during the Dec. 15-17 period, followed by Kohl’s in 2.5 seconds and Walmart in 4.7 seconds. Target also has the smallest average asset size, meaning images that have to load, at 15 kilobytes, compared with 17 kilobytes for Kohl’s and 29 for Walmart.” Read more
Dick’s Sporting Goods could be a ‘survivor’ like Best Buy: Wells Fargo at CNBC. “Wells Fargo analyst Ike Boruchow wrote in a note to clients that the outlook for the sporting goods retailer is only “improving” from here, as industry trends from a higher level appear to be “stabilizing” after a rough few months.” Read more
Macy’s is about to close more stores at CNBC. “Little by little, Macy’s is beginning to close some of the roughly 30 stores it previously announced were on the chopping block. So far, 11 stores have been identified for closure, and four of those stores’ teams have been notified.” Read more
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US shoppers who own an Echo device spend significantly more on Amazon by Matt Linder at Internet Retailer. “The average of $1,700 spent by Echo owners is about 30% higher than what Amazon Prime members spend on average ($1,300) per year.” Read more
Rotisserie Chickens: The Nineties’ Gift to Supermarkets That Keeps on Giving by Annie Gasparro at Wall Street Journal. “Americans bought 625 million rotisserie chickens at supermarkets in 2017, according to market-research firm Nielsen… Costco sold 87 million in its 2017 fiscal year, compared with 51 million in fiscal 2010…“We are relentlessly focused on keeping that price point,” said Russ Richardson, vice president of deli and bakery for Kroger Co. , the second-largest U.S. food retailer.” Read more (subs.)
Bon-Ton’s CFO leaving company for Pier 1 Imports; successor named by Melanie Lawder at Milwaukee Business Journal. “Michael Culhane…will take over (Nancy) Walsh’s role. Culhane…has previously held the position of chief financial officer at Hudson’s Bay Company, as well as executive roles with Lord & Taylor and May Department Stores Co.” Read more
The Cashless Society Has Arrived— Only It’s in China by Alyssa Abkowitz at Wall Street Journal. “Payment via mobile-phone services such as WeChat is sweeping the country…Behind the trend are internet titans Alibaba Group Holding Ltd. and Tencent Holdings Ltd., which are elbowing aside banks to take a growing role in daily commerce.” Read more (subs.)
The Buckle December comp sales -4.1% Press release
Walmart Cashier Class Says Co. Concedes Seating Feasible by Dave Simpson at Law 360. “A class of Walmart cashiers alleging the retail giant violated state law by failing to provide them seats claimed Tuesday in California federal court that by providing seats to cashiers with disabilities, the company has already acknowledged that their work reasonably permits seating.” Read more (subs.)
Camping World buying Erehwon Mountain Outfitter “…three Chicagoland area locations and the flagship location in the Milwaukee area.” Press release
Ex-Amazon exec takes helm of Wiserg, raises $19.2M for startup that turns food scraps into fertilizer by Clare McGrane at GeekWire. “The company has partnered with grocery stores to recycle food waste using its device, including a deal with Whole Foods…Wiserg then sells the nutrient-rich liquid the machine makes back to the agricultural sector as a fertilizer.” Read more
Home Depot orange apron featured in The Smithsonian’s “American Enterprise” exhibit at Built From Scratch. Pics/Read more
Flu kills 34 more people, including a 1-year-old, in San Diego by Paul Sisson at San Diego Union-Tribune. “A feverish mob began arriving at local emergency rooms right around the holidays, creating long waits and forcing some facilities to set up tents in their parking lots to relieve pressure on their emergency waiting rooms — just as they did in 2009 when the H1N1 epidemic hit.” Read more
Brooks Needs Runners Who Hate to Run by Clare Suddath at Bloomberg. “Brooks is so specific to runners that a few months ago, when employees saw someone wearing a pair at a bar in Texas they interrogated him…Weber wants to change that. Over the next few years, he thinks Brooks can become a $1 billion brand, essentially doubling its revenue.” Read more
Charming Charlie unveils restructuring plan by Katherine Blunt at Houston Chronicle.”The plan would allow the Houston-based jewelry and accessories retailer to wipe about $69 million from its balance sheet after filing for Chapter 11 bankruptcy protection.” Read more
Some Oregonians panic about new self-service gas law at Washington Post via Mercury News. “I don’t even know HOW to pump gas and I am 62, native Oregonian . . . I say NO THANKS! I don’t like to smell like gasoline!” one woman wrote.” Read more
Tipsheet Extra Stories
Why Walmarts in California couldn’t sell ammo for more than a day
In-N-Out adds first new menu item in more than a decade
A popular sugar additive may have fueled the spread of two superbugs
Dippin’ Dots dips into the cryogenics business
Canada Goose shares rise as ‘bomb cyclone’ approaches
Lululemon’s Chip Wilson-named design school opens in Canada
Should Cincinnati be worried about Macy’s HQ leaving town?
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