Tipsheet: CVS Closing 46 | Nstrom Mini +2 NYC | John Daly Mad at WM
CVS closing 46 stores by Nathan Bomey at USA Today. List
UK grocer Sainsbury’s plans investment drive after blocked merger with Walmart-owned Asda at CNBC. “The grocer said it would increase and accelerate investment in its core business to improve over 400 supermarkets this year, and plans to reduce net debt by £600 million over the next three years. Britain’s Competition and Markets Authority recently blocked a merger between Sainsbury’s and Walmart-owned Asda.” Read more
Inside Ikea’s Startup Bootcamp at Bloomberg via Fortune. “For entrepreneurs such as Murthy, a chance to partner with a company that sells $44 billion worth of goods a year is worth a bit of jet lag. Ikea, in turn, wants startups to see the retailer as “a natural partner,” Krokstade said. “When they have made an innovation they should come to Ikea and say ‘Hey, look what we have done. Can we co-create with you?’” Read more
Nordstrom to Add Two Mini Stores in Its New York Expansion by Sapna Maheshwari at NY Times. “…in the West Village and on the Upper East Side, as part of its new Nordstrom Local chain, the retailer announced Wednesday. The two smaller stores will not carry merchandise. Rather, they will be hubs for online pickups and returns, as well as services like tailoring and personal styling.” Tiered subs.
Walmart brings moms back to work at Ad Age. “Walmart Inc. says it hired about three-quarters of the participants from a training program for tech professionals returning to the workforce after taking time off, part of an ongoing industry effort to increase diversity and find new sources of talent.” Tiered subs.
Smart & Final Q1 comp sales +2.2% Press release
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Under Armour shares soar on earnings beat at CNBC. “Sales in North America were down 3% during the quarter, amounting to $843 million, while international revenues grew 12%, to $328 million.” Read more
For the first time, Amazon’s own online sales make up less than half of its entire business by Nat Levy at GeekWire. “The milestone doesn’t take into account sales by other retailers on Amazon.com, but it’s nonetheless a testament to the tech giant’s growing diversification.” Read more
Field Agent Video: Cutting-Edge Retail Technology (Hannaford, Stop & Shop blend your own oil and vinegar, etc.) 4:45 video
Retailers’ sales-tax benefit is again under the Illinois budget microscope by Eric Zorn at Chicago Tribune. “…retailers now get to keep a portion of the sales taxes we pay — 1.75 percent — in order to compensate them for the expense of calculating, collecting and remitting those taxes to the state.” Tiered subs.
Kroger Names New Division Presidents “Dana Zurcher, currently Dallas division president, has been named president of the Columbus division. She will be succeeded by Tom Schwilke, who joins Kroger with more than 35 years of retail leadership experience.” Press release
Amazon says fully automated shipping warehouses are at least a decade away by Nick Statt at The Verge. Read more
Walmart Creates New Position and Hires General Counsel for Health and Wellness by Sue Reisinger at Corporate Counsel. “Jeanine Jiganti, who will report to company general counsel Karen Roberts, begins the new job on June 3. She joins Walmart at a time when health care lawyers are in huge demand across the United States.” Read more
Target Accused of Infringing Patent for Toy Bubble Machine Bloomberg Law subs.
Amazon opens its platform to local retail market in Israel at Reuters. Read more
John Daly swears off Walmart by Dylan Dethier at Golf. “The pair seem like a match made in heaven, and they were — at least until Tuesday…Only Lane 13 was open, he said, and some of the employees were standing around urging the shoppers to self-check…“So, I self checked out with over 100 items just to have fun with it and tie those up too!” he wrote.” Read more
Tipsheet Extra Stories
Boy almost loses eye in Target Australia store accident
Man sues Costco for privacy violation over pharmacist’s ED joke
China blocks imports from two Canadian pork producers amid diplomatic spat
Marijuana lounges approved by Las Vegas City Council
CDC warns consumers not to wash raw chicken
City Council aims to rid Fresno of unwanted title: ‘drunkest city in America’
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