Amazon Changed Search Algorithm in Ways That Boost Its Own Products by Dana Mattioli at Wall Street Journal. “The Amazon search team’s view was that the profitability push violated the company’s principle of doing what is best for the customer, the people familiar with the project said. “This was definitely not a popular project,” said one. “The search engine should look for relevant items, not for more profitable items.” WSJ subs.
Holiday retail sales could climb 5% despite ‘unprecedented uncertainty’ at CNBC. “Holiday retail sales for 2019 are forecast to increase 4.5% to 5%, exceeding $1.1 trillion, according to an annual survey by Deloitte. That would be better than the Census Bureau data of sales growth of 3.1% on sales of $1.09 trillion from last November to January.” Read more
Walmart Likely Discriminated Against Female Store Workers, EEOC Finds by Sarah Nassauer at Wall Street Journal. “Walmart Inc. likely discriminated against 178 female workers by paying less or denying promotions because of their gender, the (EEOC) said in memos viewed by The Wall Street Journal. The EEOC documents ask Walmart and the women who filed complaints to come to “a just resolution of this matter,” which could include a settlement and changes to Walmart’s practices, say labor lawyers. If Walmart and the women don’t reach an agreement, the EEOC could file a lawsuit against the retailer.” WSJ subs.
US factory production rose at healthy pace in August – climbing 0.5% last month, after a 0.4% drop in July at AP. Read more
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BJ’s Wholesale Club Names Lee Delaney President “Delaney, currently Executive Vice President, Chief Commercial Officer, will lead BJ’s retail, e-commerce and membership operations in addition to his current responsibilities for merchandising, supply chain and marketing. He will continue to report to Christopher J. Baldwin, Chairman and Chief Executive Officer.” Press release
Walmart is bringing back trendy fashion brand Scoop in bid to juice its fashion business at CNBC. “Scoop shuttered all 16 of its stores in New York City three years ago…Walmart has attained the rights to the Scoop name and is relaunching the brand — but at more affordable price points…Everything will be available online starting Monday and in select Walmart stores early next year.” Read more
Marcus Lemonis, CEO of Camping World & Gander Outdoors, has donated six figures’ worth of financial contributions to flood-ravaged Grafton, IL despite having no prior connection to the community by Bryce Gray at St.Louis Post Dispatch. “He’s helped us out quite a bit,” said (Mayor) Eberlin…“We needed a tremendous amount of dumpsters and he footed the bill,” said Eberlin, listing one example of Lemonis’ assistance.” Read more
Crate & Barrel to Expand its In-Store Restaurant to Up to 15 Locations by Danielle Abril at Fortune. “…its first location near Chicago proved to be a hit this summer. “It was a win right out of the gate,” said Neela Montgomery, CEO of Crate & Barrel. “It was profitable in the second month.”…Almost all of the items in the restaurant are available for purchase on the storefront side of business.” Read more
Penney’s First Female CEO Says Her Turnaround Will Be the One to Work by Jordyn Holman at Bloomberg. “(Jill) Soltau joined the company last October with the stock in a free fall that has yet to reverse. During her second day on the job as the company’s first female chief executive officer, she commissioned a survey that came back with some telling findings: Customers are tied to their digital devices, they care about fashion and want to forge an emotional connection with the places they shop…” Tiered subs.
Macy’s Announces Transition of Bluemercury Founders Marla and Barry Beck “Barry Beck, Bluemercury’s chief operating officer, will step down effective September 20, 2019…Marla Beck, Bluemercury’s chief executive officer, will stay with Bluemercury and continue to lead the business during a transition period.” Press release
Amazon #7 in Hired’s ‘Brand Health Report’ on where tech talent wants to work by Kurt Schlosser at Geekwire. Top 15 Public & Private list
Former PepsiCo CEO Aims to Create a ‘Sisterhood’ of Women Leaders by Danielle Abril at Fortune. “Nooyi said her journey was “brutal,”…Many days, she said she had to fake a smile during her walk into work, or shut the door to her office to take 15 minutes to cry or scream. “When you’re a female, colored woman, immigrant serving as a CEO of a large company and undertaking a transformation, there are tons of critics,” she said.” Read more
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