Amazon Probed by U.S. Antitrust Officials Over Marketplace by Spencer Soper & Ben Brody at Bloomberg. “Several attorneys and at least one economist have been conducting interviews that typically last about 90 minutes and cover a range of topics, according to three merchants. All were asked what percentage of revenue their businesses derive from Amazon versus other online marketplaces like Walmart Inc. and EBay Inc., suggesting regulators are skeptical about Amazon’s claims that shoppers and suppliers have real alternatives to the Seattle-based company. One merchant, Jaivin Karnani, said he was surprised the FTC returned his call the very next day.” Tiered subs.
Sam’s Club names new chief merchant in Megan Crozier by Kim Souza at Talk Business. “…according to an internal memo sent by Sam’s Club CEO John Furner on Monday (Sept. 9). Furner said Crozier will assume the new role Sept. 16 and will report to him…Crozier joined Walmart in 2003 as an engineer in a grocery distribution center in Temple, Texas. She moved to Bentonville to work as supply chain manager supporting merchandising and in 2005, she became as assistant buyer.” Read more
GameStop shares tank after earnings miss, cuts sales forecast at CNBC. “It said it now expects sales at stores open at least 12 months to fall in the low teens, compared with prior expectations of a decrease between 5% and 10%.” Read more | Co. press release
…GameStop closing 180 to 200 stores globally by Kelly Tyko at USA Today. Read more
Gun rights activists test Walmart request not to open-carry guns into store by Rebecca Klar at The Hill. “David Amad, the vice president of Open Carry Texas, told The New York Times the 38,000 members of his group have openly carried their guns inside Walmart stores since the retailer announced last week it is “respectfully requesting” customers to no longer openly bring guns into its stores. He said none of the members who have done so have been asked to leave.” Read more
…Retailers Walk Thin Line by Asking, Not Telling, Shoppers Not to Carry Guns by Michael Corkery at New York Times. “Some of the retailers said their new policies were meant to strike a balance between signaling that guns make many employees and customers feel unsafe, while not angering gun rights supporters. The new policies appear to be achieving something that have been elusive in the nation’s long-running gun debate: some form of middle ground.” Tiered subs.
RH Q2 net revenues +10.3%, raises fiscal 2019 guidance for the 3rd time this year Press release
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‘A new type of department store’: Neighborhood Goods snags $11 million in funding, plots more locations at CNBC. “Some names in the Plano space, which is about 10,000 square feet, include razor company Dollar Shave Club, watchmaker Fossil, men’s clothing brand Buck Mason and women’s shoe company Rothy’s. There’s also a restaurant there, called Prim and Proper, serving burgers and weekend brunch. And Neighborhood Goods holds other weekly events like workout classes, gardening workshops and taste testings.” Read more
Cashier arrested in Japan for allegedly using ‘photographic memory’ to steal credit card information of 1,300 customers at CNN. Read more
Fry’s Electronics tries to quell rumors of its demise as customers worry about empty shelves by Levi Sumagaysay at Mercury News. “In response to inquiries by (Mercury News), a spokesman for the San Jose-based retailer said Tuesday that the company is “converting most of its suppliers to consignment,” and that its shelves will be restocked over the next few weeks.” Tiered subs.
Red hot Costco shares fall after Oppenheimer downgrades, citing a record high valuation at CNBC. Read more
Carrefour denies weighing bid for French retail rival Casino at Reuters. Read more
L Brands promises an ‘evolution’ is ahead for Victoria’s Secret brand at CNBC. “There’s a big belief in the company that we need to evolve,” said John Mehas, head of Victoria’s Secret Lingerie…The company, by its own admission, stayed tied to its sexy imaging at Victoria’s Secret stores for far too long as its shoppers looked for more comfortable and inclusive options sold by brands such as Aerie and Third Love, among others.” Read more
Tipsheet Extra Stories
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