Tipsheet: Costco China Crush | Epic Flu Season? | WM Can. New CEO
Crowds force Costco to shut maiden China store early on opening day at Reuters. “Videos posted on Chinese social media showed thousands of people crowding the aisles of the store in Shanghai’s Minhang district, while signs outside warned incoming shoppers that they might have to wait three hours to park. One nearby school sent out an advisory to parents warning them about the traffic conditions. “Please expect the student dismissal this afternoon to be severely delayed due to the grand opening of Costco Supermarket,” said the message.” Read more
Horacio Barbeito Appointed President and CEO of Walmart Canada “Barbeito joined Walmart nearly 25 years ago and developed his career through leadership roles in Argentina, the United States, Puerto Rico and Chile.” Press release
Barneys nears sale to online luxury retailer Farfetch: sources by Lisa Fickenscher at NY Post. “Farfetch, which peddles luxury brands including Gucci, Karl Lagerfeld and Chanel, kicked off negotiations with Barneys before its Chapter 11 bankruptcy filing — but the talks have been heating up, sources said. In one sign of how serious things are getting, the e-tailer has even convinced the landlord of Barneys’ crown jewel location on Madison Avenue to slash the rent and take back 40% of the 10-story store, sources said.” Read more
Shoe retailer Cole Haan prepares for IPO at CNBC. “…declined to comment on the timing of the IPO. The company is owned by private equity firm Apax Partners, which bought Cole Haan from Nike in 2013.” Read more
J.Jill Q2 comp sales -1.2% Press release
Amazon’s top treasurer leaves the company after 15 years of managing its money at CNBC. “(Kurt) Zumwalt didn’t respond to inquiries from CNBC as to why he left or where he’s headed next. One person said he doesn’t have any plans to join another company at this point.” Read more
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Dollar General and Dollar Tree fined $1.2 million for selling expired drugs at CNBC. “The investigation also called out Family Dollar…All the chains sold expired over-the-counter drugs, while Dollar General was fined for selling motor oil unsuitable for modern cars; Dollar Tree also violated New York’s bottle deposit law, law enforcement officials said.” Read more
Bell shows off an autonomous delivery drone that rivals Amazon’s prototype by Alan Boyle at GeekWire. Video/Read more
Lottery retailers poised to join Illinois sports betting action by Mitchell Armentrout at Chicago Sun Times. “In the Illinois version, gamblers will place their bets at electronic kiosks placed in up to 2,500 retailers that are authorized in the first year of the pilot. An additional 2,500 retailers will be eligible to join the action in the second year.” Read more
Southern California grocery union gives supermarkets Sept. 9 deadline in hopes of averting a strike by Lori Weisberg at San Diego Union-Tribune. “In late June, thousands of grocery workers across Southern California and parts of Central California, voted overwhelmingly in favor of authorizing their union leadership to call a strikeshould contract talks with Ralphs, Albertsons, Vons, and the Pavilions stores fail to yield a satisfactory agreement. Some 46,000 unionized workers, from north of Santa Maria to the U.S.- Mexico border, are still working under a three-year contract that expired March 3.” Tiered subs.
Upcoming flu season could be ‘worst flu season in the last decade’ according to Kroger Senior Director of Pharmacy Services Jim Kirby by Gina Acosta at Progressive Grocer. “The next big thing that will hit retail pharmacy is the flu season, but not just any flu season, but the possibly worst flu season in the last decade,” said Kirby, who spoke at the National Association of Chain Drug Stores’ Total Store Expo (TSE), in Boston.” Read more
Grocery workers authorize strike against SW Washington and Oregon stores if negotiations fail at Seattle Times. “Fred Meyer has been posting negotiation updates online. The company’s offer, McAllister said, calls for proposed wage rate increases that are considerably smaller than what the union is looking for.” Tiered subs.
Randy Riley, director of produce merchandising for Kroger, estimates Kroger’s share of the organic produce market is 40% in markets they operate by Tom Karst at Produce Retailer. “Altogether, 27 million household are buying organic in Kroger stores. Riley said the Simple Truth private label organic brand in all departments has annual sales of $3 billion per year.” Read more
Starbucks Supplier Delivery Workers Vote to Authorize Strike by Jennifer Smith at Wall Street Journal. “The proposed labor agreement between DPI Specialty Foods Inc.’s logistics division and Teamsters Local 710 covers nearly 300 drivers and warehouse workers at four DPI facilities in the Chicago, Indianapolis, Minneapolis and St. Louis areas. Those locations supply food and other goods to more than 900 Starbucks stores, the Teamsters said.” WSJ subs.
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