Tipsheet: Costco “Stubborn” | LA Sues JCP/Macy’s | Walton Door to Smithsonian | Target Premiere Party
Costco Q1 Comp Sales +1.0% “Net income for the quarter was $545 million, or $1.24 per diluted share, compared to $480 million, or $1.09 per diluted share, last year.” Press release
…Costco says it’s working to sharpen online shopping capabilities by Janet I. Tu at Seattle Times. “Galanti acknowledged that the company had probably been “a little stubborn along the way” and that “there are some things we perhaps should have done earlier.” But Costco is making improvements to its online shopping experience, including making search easier, improving the return process, bettering members’ ability to track their orders, and increasing the number of depots from which orders can be fulfilled, resulting in “closer, faster and less expensive delivery,” Galanti said.” Read more
Wal-Mart Is Under Pressure to Fix Its Crime Problem by Shannon Pettypiece at Bloomberg. “Making Change at Wal-Mart, a labor group backed by the United Food and Commercial Workers International Union, will start running television ads this week in four media markets and has been handing out fliers to customers in 20 cities…The union’s organizers also have met with city and local officials in Tampa, Florida; Tulsa, Oklahoma; Dallas and the Minneapolis area, encouraging them to declare Wal-Mart a public nuisance in hopes of pressuring the company to improve security.” Read more
CITY SUES RETAILERS – Los Angeles city attorney’s office said it plans to sue four retailers for deceptive advertising: JC Penney, Sears, Kohl’s and Macy’s by Shan Li at LA Times. “The retailers falsely advertised high “list” or “regular” prices on merchandise that was never actually for sale at that price, according to the lawsuits to be filed Thursday.” Read more
Amazon says it has absolutely no plans to open 2,000 stores by Krystina Gustafson at CNBC. “After announcing plans to open its first convenience store earlier this week, the online retailer is denying a story in The Wall Street Journalthat said more than 2,000 bricks-and-mortar grocery stores are in the works. “It’s absolutely not correct,” an Amazon spokesperson told CNBC. “We have no plans to open 2,000 of anything. Not even close. We are still learning.” Read more
Glassdoor: 2017 Top 50 places to work (HEB #27, Costco #34, QuikTrip #48, Wegmans #50) Top 50 list
Wal-Mart de Mexico to Invest $1.3 Billion in Logistics by Anthony Harrup at Wall Street Journal. “The plan involves the construction of new distribution centers and the upgrading of existing centers.” Read more (subscription)
Lowe’s Outlines Strategic Priorities at 2016 Analyst and Investor Conference Press release
GNC agrees to improve vetting for supplements in DOJ agreement by Lydia Nuzum at Pittsburgh Business Times. Read more
Sears Losses Mount as Sales Continue to Slide at Fox Business. “Revenue fell 13% $5.03 billion from $5.75 billion a year earlier, dented by fewer Kmart and Sears stores in operation as well as a 7.4% drop in same-store sales.” Read more
Lululemon Athletica profits shoot up 28% for the quarter, company raises outlook for the year by Hollie Shaw at Financial Post. Read more
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Casey’s Q2 Grocery/Merchandise Comp Sales +3.1% “A slowing of in-store traffic and tightening of consumer spending caused by the ongoing pressures in our operating area adversely impacted same-store sales throughout the quarter,” said (CEO) Handley.” Press release
Target Transforms Flood-damaged Baton Rouge Store at A Bullseye View. “There was massive damage in almost every department. We’d lost millions of dollars’ worth of merchandise. Some parts of the store were covered in as much as 29 inches of standing water.” Read more
Door from Walmart founder’s first store to be donated to the Smithsonian by Willie James Inman at Fox News. “Because Walton’s store was so popular he had more traffic than anybody. The door is worn on the side where you push to get in,” Dranow told FoxnNews.com. “They’re not really in great condition. Basically they were just stored and never touched.” Read more
PREMIERE PARTY for Target’s Christmas merchandising campaign The Toycracker at Daily Mail. “Naomi (Watts) joined Chrissy Teigen and John Legend at the low-key event. The Toycracker is an eight-minute musical segment set to air in two parts on Sunday evening on ABC during the network premiere of Disney’s Frozen.” Read more
Amazon Wants to Help Publishers Make More Money From Ads by Mike Shields at Wall Street Journal. “As part of its Publisher Services group, Amazon is rolling out a new “header bidding” product designed to help web publishers enable multiple ad buyers, including ad networks and ad agencies, to bid on ad space simultaneously.” Read more (subscription)
Honest Co. reorganizes, cuts 14% of staff by Anthony Noto at New York Business Journal. Read more
TERMINALLY SILLY – Part of Philadelphia airport will pay soda tax, another part won’t by Linda Loyd at Philly Inquirer. “What the city needs to do is paint a big red stripe down the terminal floors with arrows pointing ‘Philadelphia soft drink tax’ this side, and ‘No Philadelphia soft drink tax’ the other side,” said Shanin Specter, attorney for the plaintiffs seeking an injunction to stop the city from collecting the tax.” Read more
Reebok’s new Boston HQ will feature retail store, one-mile running track and more by David L. Harris at Boston Business Journal. See pics / Read more
Tipsheet Extra Stories
Ex-Wmart /Current P&G Exec Named to Board of Tyson Foods
CBS head lets slip news of YouTube TV subscription service
Tim McGraw’s mom pays off $5K in Walmart layaways
Ronda Rousey Shows ‘Strong is Beautiful’ in This New Pantene Campaign
Holiday promotions raise risk for post-audit claims against suppliers
‘Late Show’ checks out LA locations amid Corden takeover rumors
Mediaite: 2016, 25 Most Influential in News Media
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