Target is making a bigger bet on baby by Lauren Thomas at CNBC. “In deciding to grow Cloud Island, (Mark) Tritton explained, “We like to see what customers buy with what… what they come back with frequency on. As they buy x, they buy y.” He said many moms and dads come to Target to buy clothes or groceries, and they leave with a pack of wipes or baby formula.” Read more
Shopko files for bankruptcy – will close 105 stores by Jeff Bollier at Green Bay Press-Gazette. “Shopko currently operates 367 stores in 25 states, including full Shopko stores, Hometown stores, Shopko Express and Shopko Optical locations.” Read more
Retailers Are Squandering Their Most Potent Weapons at Harvard Business Review. “The root of the problem is that most retailers don’t know how to determine the optimal amount of staffing and training for individual stores. In this article we’ll lay out a method for doing that. When applied systematically, it can add as much as 20% to the revenues of existing stores, we’ve found.” Tiered subs.
Outgoing Target CFO Smith will stay on at full pay through May 2020 by Jackie Crosby at Minneapolis Star Tribune. “The retailer also will pay Smith $1.5 million in two cash installments if she signs a two-year non-compete and non-solicitation agreement.” Tiered subs.
‘They Own the System’: Amazon Rewrites Book Industry by Marching Into Publishing by Jeffrey A. Trachtenberg at Wall Street Journal. “They aren’t gaming the system,” literary agent Rick Pascocello said. “They own the system.”…Amazon commands some 72% of adult new book sales online.” WSJ subs.
Inside Neiman Marcus’s private dinner for Best Dressed Hall of Famers and March of Dimes by Amber Elliot at Houston Chronicle. Pics/Read more
Save-A-Lot lays off workers a month after move to new HQ by Jacob Barker at St.Louis Post-Dispatch. “The person estimated that around 80 headquarters employees were laid off based on conversations with former colleagues and others waiting for termination meetings at the office…“It’s just pretty brutal after they took the time to have the nice press write-ups about the new headquarters…” the person said.” Tiered subs.
Amazon is on a hiring spree in India, even as new restrictions on foreign sellers loom at CNBC. “Amazon currently has 660 open positions in Bengaluru (formerly known as Bangalore), which is the second most worldwide after Seattle. The southern city of Hyderabad has the eighth-most with over 450 job openings, according to its career site.” Read more
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Why Buy From Amazon When You Can Buy From Your Friends? by Brittain Ladd at Forbes. “There’s a Robin Hood feel to the platform,” says Eric Senn, founder and CEO. “You can buy new products directly from people you know. The money that would typically go to a company like Amazon or Macy’s now goes to the person you buy it from. And there’s no markup on the products.” Read more
GameStop completes sale of Spring Mobile Division – Spring Mobile owns and operates 1,284 AT&T wireless stores Press release
Amazon, Flipkart seek more time to comply with new India policy at The Economic Times. “Amazon and Walmart-owned Flipkart have asked the government to extend the February 1 deadline to comply with recently announced changes…” Read more
DoorDash Becomes First On-Demand Destination To Offer Delivery In All 50 States Press release
Gymboree files for Chapter 11 bankruptcy protection (again) by Steve Coogan at USA Today. Read more
Weis accelerates shipments of items in demand by food stamps recipients – getting ready for the early arrival of their February benefits by Becky Metrick at Penn Live. Read more
Love’s plans to open more than 40 new locations, bringing store count to more than 500 nationwide Press release
Woman admits in court that attack at Canadian Tire store was ‘for ISIS’ at Global News. Read more
Home Depot store shelters kids after fire reported at nearby day care by Thomas Novelly at Louisville Courier Journal. “The staff had been advised to bring them to the Home Depot,” Chief Marlin Howard with the Okolona Fire Department told the Courier Journal. “They did an excellent job taking count of the children.” Video/Read more
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