Tipsheet: Cyber Insurance 13% Cheaper | Macy’s CEO $1.1M Cut | 1K Suing J&J | N.Marcus Honors Herrera
AMAZON EXPANDS DASH BUTTON FROM 30 TO MORE THAN 100 BRANDS – Amazon Widens Its Push-Button E-Commerce Horizons by Nick Wingfield at NY Times. “The number of orders customers made with the devices jumped 75 percent during a week in mid-March compared with a week in mid-December, he said, without disclosing the underlying sales numbers. Dash Buttons are now pressed more than once a minute in total by Amazon customers, Mr. Rausch said.” Read more
Kroger sought partners to buy Fresh Market by Steve Watkins at Cincinnati Business Courier. “Fresh Market disclosed in a Securities and Exchange Commission filing how the deal came together and provided information on competing bids before it wound up selling to New York-based private equity firm Apollo Global Management.” Read more
Retailers Slow to Adopt EMV Terminal Upgrade by Arthur Zaczkiewicz at WWD. “…43 percent of “retailers that have experienced data breaches in the past 5 years have not updated their point of sale terminals.” For consumers, 62 percent “don’t understand the difference between major card security standards” while 41 percent “falsely believe debit cards protect them from fraud better than credit cards.” Read more
Macy’s CEO takes $1.1M pay cut by Alexander Coolidge at Cincinnati Enquirer. Read more
Women are scrimping on clothes, but splurging on upscale beauty products by Sarah Halzack at Washington Post. “We live in that selfie-ready age,” said Karen Grant, beauty industry analyst at NPD. “And makeup, we’re seeing, is allowing people to feel more confident.” Read more
A BETTER TOOTHPICK – Canada’s Dollarama raises top prices to $4, stresses quality over quantity by Marina Strauss at Globe & Mail. “It’s not so much that we can offer 500 toothpicks,” he told analysts after the company reported strong fourth-quarter results. “But it’s more if we offer 200 very good toothpicks that the customer will be happy with, I think that’s what counts at the end. It’s a culture that we’re trying to instill in everyone. Again, it’s not quantity but quality that counts.” Read more
…Larry Rossy hands off CEO’s job at Dollarama to his son Neil by Damon Van Der Linde at Financial Post. “Neil Rossy, Dollarama Inc.’s 46-year-old chief merchandising officer, will succeed his father, Larry Rossy, 73, at a time when the Montreal-based company is flying high, posting higher than expected earnings Wednesday.” Read more
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Trader Joe’s settles cookie lawsuit with Pepperidge Farm via AP. “Ira Levy, a New York lawyer representing Pepperidge Farm, said on Wednesday that the two companies reached a “mutually satisfactory resolution” Read more
Neiman Marcus to Honor Carolina Herrera by Eddie Roche at Fashion Week Daily. “Fashion treasure Carolina Herrera will receive the Neiman Marcus Award for Distinguished Service in the Field of Fashion at its flagship store in downtown Dallas on September 16.” Read more
People Are Spending Lots of Time, Not Money, on Their Phones by Jason Del Rey at Recode. “…there’s still a huge gap between how much time shoppers spend on mobile websites and apps, and the percentage of total e-commerce sales that happen on these mobile sites.” See the chart / Read more
Wayfair, Amazon and Nordstrom lead nominations for Internet Retailer annual awards by Don Davis at Internet Retailer. “In total there are 51 nominees for the 13 Internet Retailer Excellence Awards, which will be handed out at a banquet at the Hyatt Regency McCormick Place hotel in Chicago on June 8.” See the finalists in all 13 categories
Brands Join Bezos Foundation’s Vroom Initiative to Help Childhood Brain Development by Lindsay Stein at Ad Age. “JL came up with the idea of altering packaging on relevant products to include brain-building activities for parents. “You don’t need any more time than the time you have,” said Ms. Bezos, president and co-founder of the Bezos Family Foundation. “You can build the brain in moments you already share with your child whether it’s doing laundry or making dinner.” Read more
Cyber insurance rates fall with lull in major hacks by Jim Finkle at Reuters. “The average price companies in high-risk industries paid for $1 million in cyber insurance coverage fell 13 percent to $18,756 in the first three months of 2016, according to broker Marsh, a unit of Marsh & McLennan Cos Inc.” Read more
Jo-Ann Names Ex-Walgreen Exec CFO “Jo-Ann Fabric and Craft Stores…is proud to announce Wade Miquelon as executive vice president and chief financial officer.” Read the release
MORE THAN 1,000 WOMEN SUING – Johnson & Johnson Has a Baby Powder Problem by Susan Berfield, Jef Feeley and Margaret Cronin Fish at Bloomberg. “The next trial is scheduled to begin on April 11 in a St. Louis circuit court. “Whether or not the science indicates that Baby Powder is a cause of ovarian cancer, Johnson & Johnson has a very significant breach of trust,” says Julie Hennessy, a marketing professor at Northwestern’s Kellogg School of Management. “In trying to protect this one business, they’ve put the whole J&J brand at risk.” Read more
Tipsheet Extra Stories
Fortune: Costco’s Generous New Credit Card Will Be a Boon for the Retailer
Nascar driver among almost 60 people targeted by police in the biggest tobacco-smuggling bust in North American history
Minneapolis: Man arrested for allegedly threatening to ‘shoot up’ Walgreens
Man takes his own life in housewares section of Target store
Bentonville: Walton Family ready to transform former Kraft cheese factory