Dick’s Q2 comp sales +3.2% “We saw growth across each of our three primary categories of hardlines, apparel and footwear, our brick-and-mortar stores comped positively and our eCommerce channel remained strong, increasing 21%,” said Edward W. Stack.” Press release
BJ’s Wholesale Club Q2 comp sales (ex-gas) +1.6% “Christopher J. Baldwin, Chairman and CEO, BJ’s: “Our sales were particularly strong in the second half of the quarter as weather improved.” Press release
Lowe’s CEO details plans for growth as construction begins on Charlotte tech hub by Hannah Smoot at Charlotte Observer. ““(The tech hub) is going to be critical,” (Ellison) said. “We had fallen behind relative to modern technology. And it doesn’t matter what business you’re in, whether its retail or manufacturing, if you’re not on the cutting edge of technology, you’re going to fall behind.” Read more
Stage Stores Q2 comp sales +1.8% Press release
Manufacturers Want to Quit China for Vietnam. They’re Finding It Impossible. by Niharika Mandhana at Wall Street Journal. “Industrial parks (in Vietnam) have been flooded with inquiries. BW Industrial Development, backed by U.S. private-equity firm Warburg Pincus, began building factories-for-rent last year. Its facilities are booked through December. Marketing head Michael Chan said some tenants are rushing from site visits to signing contracts in just a week.” WSJ subs.
Stein-Mart Q2 comp sales -1.9% Press release
Nordstrom Q2 net sales: Full-price -6.5% / Off-price -1.9% Press release
…CNBC: Nordstrom shares jump after delivering strong profit, even as sales weaken in fiscal second quarter Read more
L Brands Q2 comp sales -1% (vs. growth of 0.3% expected) at CNBC. “Same-store sales at Victoria’s Secret dropped 6% (vs. expected -3.9%) during the quarter, while those at Bath & Body works were up 8% (vs. expected +6.3%).” Read more
Ace Hardware Q2 US comp sales +1.7% / Online +58% Press release
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Tuesday Morning Q4 comp sales +0.7% Press release
Target CEO: US consumer confidence ‘remains strong’ at CNBC. “Consumer confidence remains strong, there’s been a reduction in fuel prices which we think is important for consumers, unemployment remains low and wages are growing,” (Cornell said)…Bottom line, “we have a pulse of the consumer,” Cornell said, easing any investors’ worries on the issue.” Read more
HEARD ON THE CALL – Target Q2 Earnings Call Highlights
Saw more than 5% comp growth in both apparel and essentials.
Expanded test of Levi’s Red Tab denim for both men and women to 50 stores in college campuses and in high-traffic urban markets.
We will expect to see the rate of new brand introduction slow (Q&A)
In Q2, same-day services, in-store pickup, drive-up and Shipt accounted for more than a third of our digital sales, up from about 20% last year.
Results within essentials and beauty was strongest in baby, beauty and over-the-counter.
Food and beverage and home assortments saw low single digit increases in comparable sales.
In hardlines this quarter, comp sales were approximately flat overall.
Comp declines in our electronics and entertainment categories.
2.4% increase in traffic (vs. traffic comparison of 6.4% a year ago) combined with a 0.9% increase in average ticket.
Field Agent: Football fans predict their go-to retailers & brands for football season (Retailers: #1 Walmart, #2 Target, #3 Kroger, #4 Sam’s, #5 Aldi) Ranked brand/retailer list
The 50 most influential people in convenience store history at CS News. List (Subs./Register)
Walmart selects design team for new home office campus in Bentonville by Kim Souza at Talk Business. “Dan Bartlett, Walmart’s lead executive overseeing the new corporate campus project, said Gensler will design the future office buildings and lead a team of consultants. Those consultants include Miller Boskus Lack Architects of Fayetteville, who will be the lead design team for amenity buildings around the campus including the fitness center, auditorium and food hall.” Read more
Amazon has launched 150 tools and services since the beginning of the year for small and medium-sized businesses Press release
Lowe’s Q2 Earnings Call Transcript Seeking Alpha
Amazon just opened its biggest campus to date in Hyderabad, India — take a look inside at Business Insider. Pics/Read more
Apple wants you to treat it’s new credit card as a status symbol at The Verge. “Apple is advising against keeping your Apple Card in a leather wallet or in direct contact with denim, as such fabrics “might cause permanent discoloration that will not wash off.” Read more
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