Tipsheet: Dick’s Trips | Hate Waymo | Barnes & Noble War
Dick’s Sporting Goods Q2 comp sales -4.0% “CEO Stack: “We delivered double digit growth in eCommerce, private brands, and athletic apparel excluding Under Armour, however, as expected, sales were impacted by the strategic decisions we made regarding the slow growth, low margin hunt and electronics businesses, which accounted for nearly half of our comp decline.” Press release
…Dick’s Sporting Goods’ shares slide after missing second-quarter sales forecasts at CNBC. “Shares of Dick’s Sporting Goods plunged by as much as 12 percent in premarket trading Wednesday after the retailer said it sold less merchandise during the second quarter than Wall Street forecast.” Read more
Shoe Carnival Q2 comp sales +6.7% Press release
Big Lots nabs Tailored Brands executive as its new CEO by Claudia Assis at MarketWatch. Read more
J.Crew Q2 comp sales +5.0% Press release
Chico’s Q2 comp sales -3.2% Press release
Ex-chief executive of Barnes & Noble sued the bookseller on Tuesday by Carleton English at NY Post. “The suit likewise accuses (Chairman Riggio) himself of “inappropriate and unprofessional conduct,” including allegedly calling employees names like “fat pig,” “head case,” and “three-dollar bill.” Riggio allegedly called Paneros’ predecessor as CEO, Ronald Boire, a slew of epithets including “SOB,” “creep,” “motherf—r,” “slime bag” and “bad guy,” according to the suit.” Read more
…Barnes & Noble responds “The lawsuit filed by Demos Parneros is nothing but an attempt to extort money from the Company by a CEO who was terminated for sexual harassment, bullying behavior and other violations of company policies after being in the role for approximately one year.” Press release
Kroger is teaming up with the University of Cincinnati to run an incubation lab by Steve Watkins at Cincinnati Business Courier. “Hjelm said Kroger will probably have a lab leader and a couple of project managers there at any given time along with other people working on projects. It will have research and development engineers and software developers working in the 2,500-square-foot space. They’ll be joined by 10 to 15 UC students, in many cases co-op students and interns, as well as faculty.” Read more
Black Diamond sends cease and desist notice to Walmart by Amelia Arvesen at Snews. “We did not see or approve the statement which Walmart released Monday and have never sold to Walmart,” said John Walbrecht, Black Diamond’s president, in a press release.” Read more
Walmart’s Online Shoppers Won’t Have to Hang Their Own TVs Anymore by Anne Riley Moffat at Bloomberg. “Starting Wednesday and rolling out across the U.S. through September, Walmart’s online customers will be able to tack on Handy services at checkout, including television mounting for $79 or shelf-hanging for $64.” Read more
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DSW shares skyrocket after retailer posts blowout earnings at CNBC. “Same-store sales rose 9.7 percent last quarter, surpassing a Reuters forecast of 2.5 percent growth.” Read more
Under ‘Amazon effect’ retailers could be more exposed to supply shocks at CNBC. “Harvard Business School found that the average duration for regular price changes fell to 3.65 months in 2014 to 2017 from 6.7 months in 2008 to 2010.” Read more
Best Buy Q2 Earnings Call Transcript at Seeking Alpha. Transcript
A year later, prices at Whole Foods are lower overall, though they appear to have increased during the past six months by Sebastian Herrera at Austin American-Statesman. Read more
‘I hate them’: Locals reportedly frustrated with Alphabet’s self-driving cars in Chandler, AZ at CNBC. “One woman said that she almost hit one of the company’s minivans because it suddenly stopped while trying to make a right turn, while another man said that he gets so frustrated waiting for the cars to cross the intersection that he has illegally driven around them.” Read more
Yahoo scans emails for data to sell to advertisers at TechCrunch. “Yahoo mined users’ emails in part to discover products they bought through receipts from e-commerce companies such as Amazon.com,” said the WSJ. “In 2015, Amazon stopped including full itemized receipts in the emails it sends customers, partly because the company didn’t want Yahoo and others gathering that data for their own use.” Read more | WSJ article (Subs.)
IKEA will shut three city center stores in Norway as part of a drive to cut costs amid declining profits at Reuters. Read more
Sears expands tire services deal with Amazon by Nathan Bomey at Bloomberg. “Tuesday’s announcement extends the list of stores where the option is available to 118 (from 47). That represents nearly 1 in 4 Sears department stores.” Read more
Inside Instagram’s New Plan to Improve Security Amid Bots, Fake Followers, and Other Bad Actors by Rachel King at Fortune. Read more
Amazon Canada introduces $7.99 monthly membership option for Prime members Press release
Wegmans aids visually impaired shoppers “Using a smartphone or a pair of smart glasses, an Aira “Explorer” can connect to a remote, trained professional who can provide assistance on-demand using a live camera stream, GPS, maps, and information sourced from the web.” Read more
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