Tipsheet: H.Dep US +6% | Dick’s +2.4% | Retail CEOs in DC Today | Lowe’s Exoskeleton
Home Depot Q1 Comp Sales +5.5% / US +6.0% “Based on its year-to-date performance, the Company reaffirmed its fiscal 2017 sales growth guidance and expects sales will be up approximately 4.6 percent and comp sales will be up approximately 4.6 percent.” Press release
…CNBC: Home Depot earnings, sales top Street estimates as shoppers flock to its stores “Home Depot said U.S. comparable sales…climbed a whopping 6 percent during the first quarter, blowing past a 4.3 percent estimate compiled by analysts who cover the company.” Read more
Dick’s Q1 Comp Sales +2.4% “eCommerce sales increased 11.0%. eCommerce penetration for the first quarter of 2017 was 9.3% of total net sales, compared to 9.2% during the first quarter of 2016.” Press release
Retail CEOs Renew Border-Tax Fight at Meeting With Mnuchin by Matthew Townsend at Bloomberg. “Executives are planning to host a meeting with Treasury Secretary Steven Mnuchin on Tuesday…The 10-person group…includes department-store chain J.C. Penney Co., apparel maker VF Corp. and battery producer Energizer Holdings Inc…Other CEOs scheduled to attend are from AutoZone Inc., Chico’s FAS Inc., Dollar General Corp., Ikea North America Services, PetSmart Inc., Tractor Supply co. and PVH Corp.” Read more
These four Lowe’s employees are now wearing exoskeletons to work by Matt McFarland at CNN. “…testing exoskeletons on four employees at a Christiansburg, Virginia, store to make it easier to lift objects and stock shelves…Kyle Nel, executive director of Lowe’s Innovation Labs, describes the suits as a way to better recruit potential employees and make their workdays easier. “Who wouldn’t want to work in a place where you get to wear an exosuit?” Nel asked.” Pics/Read more
Sears CEO slams Craftsman supplier for trying to get out of contract by Gina Hall at Chicago Business Journal. “They seek to embarrass us in the media to force us to let them out of their contract,” Lampert wrote in a blog post entitled, “Taking a Stand to Protect Our Company.”…“We will not simply roll over and be taken advantage of…”. Read more
Jewel bids on 17 Strack & Van Til stores in Indiana by Peter Frost at Crain’s. Read more
Staples Q1 Comp Sales -3.0% “Total company sales for the first quarter of 2017 were $4.1 billion, a decrease of five percent compared to the first quarter of 2016.” Press release
Photos of Walmart’s Updated Electronics Department: Before and After by Field Agent. “Looks a lot more professional than previous years. Well organized. Compares to Best Buy displays now instead of low end displays.”-Agent Quote” Pics/Read more
Rue21 files for Chapter 11 bankruptcy protection at Reuters. “The retail chain, which sells budget-priced clothing and accessories at over 1,100 stores across the United States, listed assets and liabilities in the range of $1 billion and $10 billion, according to the court filing.” Read more
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Why Wal-Mart Is Worried About a Discount German Grocer by Sarah Nassauer & Heather Haddon at Wall Street Journal. “Not everyone is convinced that Lidl and Aldi will wreak as much havoc in the U.S. as they have across the Atlantic. There are more players and more price competition in the U.S., Sanford C. Bernstein & Co. said in a recent research note, “explaining Aldi’s current around 1% market share despite four decades” in the U.S.” Read more (subscription)
Ex-Williams-Sonoma/Pottery Barn Exec Named President of New Business Development at Restoration Hardware Press release
TODAY SHOW – Cars crashing into stores: New technology aims to save lives by Jeff Rosen & Lindsey Bomnin at NBC Today. “When a crash test car was flung at a concrete-filled barrier at about 20 miles per hour — parking lot speed — the car knocked it down like a bowling pin…When the same car was sent down the same track at 20 mph at a stainless steel barrier, the barrier stopped the car. When the test was repeated at 30 mph, the new barrier design still held up.” Video/Read more
Jay Leno loves vintage cars, and now he’s selling products to make them shine by Charles Fleming at LA Times. “That was always the endgame,” Porrazzo said. “To get a branded product out there with Jay’s name on it.” The line is composed of 14 different vehicle care products, with another six more on the way, said the company’s marketing director, Chris Walters.” Read more
Costco, Walmart losing some ground in Canadian food sales to traditional grocers by Aleksandra Sagan at Global News. “Industry watchers say the price gap between the two sides has narrowed and the traditional stores’ loyalty programs are helping support sales.” Read more
Judge OKs settlement in Wal-Mart same-sex benefits case via Northwest Arkansas Democrat Gazette. “A federal judge in Boston has approved a $7.5 million class-action settlement between Wal-Mart and a former employee who challenged the retail chain’s lack of health insurance benefits for her same-sex spouse.” Read more
WALMART REPORTS THURSDAY – Street expects comp between 1% and 1.5% in its U.S. stores by Kim Souza at The City Wire. Read more
General Mills to give away 10,000 boxes of Marshmallow Only Lucky Charms by Robert Klara at Adweek. “This is a limited-time offering, and consumers will need to buy a box of regular Lucky Charms to get a promo code that they then need to enter on the Lucky Charms website for a chance to win.” Read more
Tipsheet Extra Stories
The Rocket Shot nearly landed on ‘Shark Tank’; it’s now a Daisy product
Denver one of three finalists for massive Outdoor Retailer trade shows
WinCo invades Oklahoma
Pics: Construction begins on Google’s massive Seattle campus
Walmart shoplifter faceplants while trying to steal shopping cart of items
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