Tipsheet: Foulkes Exit? | “No Mercy” Shoplifting | Target +1.5%
Target Q4: comp sales +1.5% / digital comp +20% / same-day services accounted for more than 80% of Q4 comp digital sales growth Press release
…Target cancels in-person investor day in New York City due to coronavirus at CNBC. Read more
Kohl’s holiday quarter earnings, sales beat estimates:
Earnings per share: $1.99, adjusted, vs. $1.88 expected
Net sales: $6.53 billion vs. $6.52 billion expected
Same-store sales: flat vs. a drop of 0.1% expected
CNBC
Hudson’s Bay CEO Helena Foulkes reportedly on the way out as retailer prepares to go private at CNBC. “Hudson’s Bay Co. Chief Executive Helena Foulkes is leaving the company in the coming weeks, The Wall Street Journal reported on Tuesday morning, based on conversations with people familiar with the matter…It is not immediately clear who will be replacing Foulkes.” Read more
Publix Q4 comp sales +3.6% Press release
AutoZone Q2 comp sales -0.8% Press release
International Housewares Association cancels trade show at McCormick Place due to coronavirus worries at CBS 2 Chicago. Read more
Coronavirus fears prompt postponement of Natural Products Expo West – hope to set a new date by mid-April at The Orange County Register. Read more
Target Adds a Slice of Brooklyn with Boar’s Head Meats, Cheeses by Matthew Boyle at Bloomberg. “Target is bringing between 50 and 200 items from Brooklyn-born Boar’s Head to as many as 200 of its stores this year.” Tiered subs.
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Amazon expands same-day delivery with new network of mini warehouses near cities by Nat Levy at GeekWire. “The tech giant has quietly built smaller versions of its fulfillment centers closer to customers in Philadelphia, Phoenix, Orlando and Dallas…The new warehouses allow Amazon to offer more than 3 million items for same-day delivery in those cities.” Read more
Lawmakers Propose Making E-Commerce Companies Liable for Counterfeits by Alan Rappeport at NY Times. “The bill, called the Shop Safe Act, would create trademark liability for companies selling counterfeit goods that pose risks to consumer health and safety, like drugs and medical products. It would also force companies to more rigorously vet sellers who operate on their platforms and to remove counterfeit listings and those who repeatedly sell knockoffs.” Tiered subs.
EBay looking to sell South Korean unit at Reuters. “EBay is looking to sell its South Korean unit, which includes Gmarket, one of the largest online marketplaces in the country, in a deal that could fetch nearly $5 billion, a Seoul-based newspaper reported on Tuesday.” Read more
Diane Von Furstenberg Launches First-Of-Its-Kind #InCharge Initiative With Amazon For Women’s History Month by Maneet Ahuja at Forbes. “As part of the collaboration—a first for (Amazon)…von Furstenberg will appear on Amazon’s homepage on March 8, International Women’s Day, to showcase diverse and inspiring women-owned small businesses and share her #InCharge mission.” Read more
Welcome to Walmart. The doctor will see you now by Nathaniel Meyersohn at CNN. “Marcus Osbore, Walmart’s vice president of health and wellness transformation, said in an interview that people who come into the clinics often have not seen a primary care physician in two or three years, or a dentist in five years…”What we’re finding is all comers,” he said. “Unfortunately, the need is everywhere” in America.” Read more
The Fresh Market names ex-Sobeys exec new CEO “Jason Potter has over 30 years of experience in the grocery industry…Most recently, he served as EVP of Operations, having previously served as President Sobeys West, Sobeys Atlantic and President of Multi-Format Operations.” Press release
JD.Com Announces CFO Succession at Forbes. “(Sidney) Huang, who assumed the CFO post in 2013, will step down in September and be replaced by Sandy Xu, the current CFO of the company’s JD Retail unit.” Read more
NO FEAR SHOPLIFTING – Some Seattle merchants see shoplifting on the rise at Seattle Times. “(Employees) say much of the stealing is done by people who used to hit the Bartell at Third and Union, which, despite heavy security measures, closed in November after what former employees said was $1 million in theft-related expenses in 2019. “Now, they’re coming here,” said an employee at Fifth and Olive…a co-worker refilled a shelf of Sensodyne toothpaste emptied by shoplifters the night before. “You fill it today and tomorrow it’s gone,” she said. “No mercy.” Tiered subs.
Tipsheet Extra
Wendy Williams claims she was racially profiled at Bergdorf Goodman in NYC
How to make your own hand sanitizer
Amazon’s AI generates images of clothing to match text queries
Amazon says two employees in Italy have contracted coronavirus
Buffett dismisses coronavirus, widens Delta Air Lines stake
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