Tipsheet: JCP -3.5% | Target’s 16,000 Eggs | Bezos Spied in Italy | Dick’s New Pres.


JCPenney Q1 Comp Sales -3.5% (vs. forecast -0.6%) “Home, Sephora, Fine Jewelry and Salon all comped positively, and were the Company’s top performing divisions during the quarter.” Press release


…CNBC: JC Penney’s stock tanks on widening net loss, weaker sales traffic “While February was a very challenging month for JCPenney and broader retail, we are pleased with our comp store sales for the combined March and April period, which improved significantly versus February,” CEO Marvin Ellison said in a statement.” Read more


Nordstrom Q1 Comp Sales -0.8% “Online sales were 24 percent of total net sales, driven by 11 percent growth at and 19 percent at” Press release


Dillard’s Q1 Comp Sales -4.0% “Sales of ladies’ apparel notably outperformed other merchandise categories during the first quarter followed by the juniors’ and children’s apparel category. Weaker performances were noted in cosmetics, home and furniture, and ladies’ accessories and lingerie.” Press release


HBC Announces Q1 Comp Sales: DSG (Hudson’s Bay, Lord & Taylor and Home Outfitters) comparable sales decrease of 2.4%, Saks Fifth Avenue comparable sales decrease of 4.8%, HBC Off Price (Saks OFF 5TH and Gilt) comparable sales decrease of 6.8%, HBC Europe (Galeria Kaufhof, Galeria INNO and Sportarena) comparable sales remained flat.” Press release


Amazon Makes Major Push Into Furniture by Brian Baskin & Laura Stevens at Wall Street Journal. “The online retail giant is making a major push into furniture and appliances, including building at least four massive warehouses focused on fulfilling and delivering bulky items, according to people familiar with Amazon’s plans.” Read more (subscription)


Wal-Mart CEO to be questioned in U.S. lawsuit over Mexican bribery by Jonathan Stempel at Reuters. “A federal judge on Thursday ordered Wal-Mart Stores Inc Chief Executive Douglas McMillon to submit to questioning in a lawsuit by shareholders hoping to learn what he knows about suspected bribery by the world’s largest retailer in Mexico.” Read more


Lauren Hobart named president of Dick’s Sporting Goods by Paul J. Gough at Pittsburgh Business Times. “André Hawaux will retire as executive vice president and COO by the end of the second quarter, and that EVP/Chief Marketing Officer Lauren Hobart has been promoted to president.” Read more


…Target executive Keri Jones hired as Dick’s EVP and chief merchant


**A message from Lock-it Block-it – Shut out burglars – not the summer breeze! The Lock-it Block-it is a high-impact security bar that allows windows to stay open AND secure at the same time. 13 adjustment holes allow for inch-by-inch opening adjustments. Great for sliding doors/windows too! Video | Sell sheet | Retailers request samples:


Here’s how Macy’s CEO Jeff Gennette spent his first weeks on the job by Andy Brownfield at Cincinnati Business Courier. “…During (store) visits he said he’s seen what’s working at Macy’s: where the company has core value, exclusivity and simplicity. Macy’s works best when it can simplify and carry products that consumers can only get at the retailer. “We need to continue to make bigger meals out of fewer things at our stores,” he said.” Read more


Canadian Tire profit surges 26% despite warm winter, soaring past market expectations by Hollie Shaw at Financial Post. “Revenue from Canadian Tire’s retail stores, which account for more than half of its sales, rose two per cent to $1.38 billion. Same-store sales were flat, rising 0.5 per cent.” Read more


…Canadian Tire to test home delivery via Toronto Star. “We have no fewer than 30 e-commerce initiatives underway at the moment, providing us critical learning on everything from search optimization to website experience to back-end fulfillment options,” said Wetmore at the meeting.” Read more


Marsh files for Chapter 11 bankruptcy, still seeking buyer by Justin L. Mack & Keith Roysdon at Indy Star. “…the filing is a step the company is taking to allow business to continue as usual in its 44 remaining stores. However, the 86-year-old chain’s remaining stores still face closure in two months if company officials can’t find a buyer.” Read more


What It Takes To Sell To Walmart: A Senior Buyer Tells All by Amy Feldman at Forbes. “Kinna Thomas, who joined Walmart five years ago from JCPenney, worked as a buyer of fine jewelry before switching to the bakery area, and she says she loves open-call day. She helped put together the deal to sell Patti LaBelle-branded sweet potato pies and fruit cobblers…And she’s even cold-called small bakeries when she’s seen a dessert she likes.” List of five things


Inside Wal-Mart’s new training sessions by Diane Stafford at Kansas City Star. “Wal-Mart officials shepherding a reporter and photographer in the rare access behind the scenes at Wal-Mart insist that Rice wasn’t coached to say that. It could well be that there’s no faking the enthusiasm of a young man who’s a couple of days into the new Wal-Mart Academy, a training program that by the end of 2017 will have reached a quarter million employees…” Read more


Tracy Morgan has forgiven Wal-Mart driver who nearly killed him by Luchina Fisher at ABC News. “Speaking to New York magazine’s Vulture before his new Netflix special, “Staying Alive,” Morgan said he forgave the driver in order to move on with his life. “The hardest part about all of this was forgiving that driver … because if I didn’t do that, we wouldn’t be sitting here talking,” he said. “I couldn’t move forward if I ain’t forgive him.” Read more


Kohl’s CEO Kevin Mansell said on a conference call Thursday that sales of Under Armour products beat “very aggressive” expectations during the first quarter by Brian Sozzi at The Street. Read more


NBC’s Today Team Discusses Neiman Marcus ‘Destroyed’ Sneakers See video


Jeff Bezos does some real-world shopping at historic Italian market by Chris Spargo at Daily Mail. “The Amazon founder was spotted basking in the warm Italian sun and company of his wife MacKenzie on Thursday during a much-deserved vacation with his family. The group, which included Bezos’ parents Jacklyn and Mike, his sister Christina and her husband Steve, and his brother Mark with his wife Lisa, were seen posing for photos just like every other tourist in the historic city.” Pics/Read more


Target used 16,000 eggs to decorate a dinner party, in a grand display of design’s wastefulness by Anne Quito at Quartz. “To start the festivities, Target chief creative officer Todd Waterbury and Cooper-Hewitt director Caroline Baumann asked guests to use tiny wooden mallets to whack open some eggs. Inserted within the hollowed out eggs were tightly rolled chits of paper that indicated the guests’ seating assignments. Many attendees, including several design luminaries, cooed about the smashing spectacle.” Pics/Read more


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