Tipsheet: JCP Debt Restructure | Chewy +45.2% | Amazon Sue Surescripts?


J.C. Penney taps debt restructuring advisers: sources at Reuters. “J.C. Penney’s restructuring plans are at an early stage, one of the sources cautioned. The discussions with restructuring specialists reflect J.C. Penney’s resolve to take steps in coming months to increase its financial breathing room and avoid confronting a potential bankruptcy filing down the road, the source added.” Read more


Amazon threatens to sue major pharmacy if it prevents PillPack from accessing patient drug data at CNBC. “Amazon’s PillPack is considering legal action against Surescripts and other drug supply-chain players in a dispute over patient health data. PillPack was informed this week that it will soon be cut off from patient medication data.” Read more


Dressbarn to close 53 stores in August – All 650 or so Dressbarn stores are expected to shut by the end of the year at CNBC. Read more


7/11 baby to receive 7-Eleven promos at NY Daily News. “7-Eleven is pledging $7,111 to the newborn’s college fund to honor her entry into the world at 7/11 at 7:11 p.m., weighing 7 pounds and 11 ounces,” spokeswoman Christina Figg wrote in an email.” Read more


Police in Florida have ditched Amazon’s facial recognition technology because of glitches and resourcing issues at Business Insider. Read more


Home Depot exec explains why chasing trends is overrated in the home decor space by Aine Cain at Business Insider. “…for the most part, Home Depot isn’t too concerned about chasing down trends. That’s simply not what its customers are looking for, according to (Jeanine) Huebner. “We will not lead in trend and design, because we really have more of that kind of a general customer and we don’t hit on either side of the larger spectrum,” she said.” Read more


Chewy Q1 net sales grew 45.2 percent year-over-year to $1.1 billion Press release


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The fluffy toilet paper you are buying is helping kill Canada’s ancient forest, study says by Mike Moffitt at SFGATE. “The report by the Natural Resources Defense Council and gave Costco’s in-house brand Kirkland toilet paper…an “F” in sustainability. Costco was not alone, however. Georgia-Pacific’s Angel Soft and Quilted Northern brands, Procter & Gamble’s Charmin, and Target’s generic Up & Up Soft & Strong all received failing grades.” Read more


50% of the U.S. population lives in states that have raised the legal age of purchase for all tobacco products to 21 Press release


New 7-Eleven stores in San Diego make a move to attract millennials by Rob Nikolewski at San Diego Union Tribune. “In December, a 10,000-square-foot 7-Eleven “lab store”…will open on 35th Street and El Cajon Boulevard that will feature a deli, a taqueria and a walk-in cellar for wine and beer purchases…One lab store has already opened in the Dallas area…The El Cajon Boulevard lab store will be the company’s second. Three others across the country are on the drawing board.” Read more


From beer to pens, South Koreans boycott Japanese brands as diplomatic row intensifies at Reuters. Read more


55% of American men are ashamed of their body hair at NY Post. “44% of the men surveyed consider it “unmanly” for men to practice good grooming habits.” Read more


Rent the Backyard wants to build a studio apartment in your yard at TechCrunch. “Rent the Backyard works with a partner to build the apartment, finances the construction, lists the property, selects the tenant, collects the rent and serves as the landlord. In exchange for all that, it has an ownership stake in the unit and keeps 50% of the rent.” Read more


HEAT WAVE – NYC Mayor De Blasio signs an executive order that requires office buildings to set their A/C to 78 degrees at Curbed New York. Read more


Michelle Obama is the world’s most admired woman at YouGov. “Microsoft founder Bill Gates remains the world’s most admired man. He’s topped the list every time YouGov has conducted the survey.” Top 20 Men/Women List


Family Dollar store employees reportedly didn’t have air conditioning for a month at Fox 10 Phoenix. “FOX 10 has contacted Dollar Tree Inc. to update them that the AC is now working, and asked why several weeks passed before technicians came out to fix it. A representative did not address our questions, and simply said, “Terrific. That’s great news.” Video/Read more


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