Tipsheet: Jelinek @ CNBC | ‘Target Tori’ | WM #18 Admired
Costco CEO Craig Jelinek appears on ‘Mad Money’ at CNBC. “We need a lot of volume going through these, as we call them, warehouses. So that’s really what it’s about,” Jelinek said. “We do a lot with very few units [and] turn a lot of inventory, and it just works the best way for us to do it that way. We will continue to expand our Costcos, but we are not going to have one on every corner.” Read more/Video
Jeff Bezos hack: Amazon boss’s phone ‘hacked by Saudi crown prince’ by Stephanie Kirchgaessner at The Guardian. “Jeff Bezos had his mobile phone “hacked” in 2018 after receiving a WhatsApp message that had apparently been sent from the personal account of the crown prince of Saudi Arabia, sources have told the Guardian.” Read more
…Saudi Arabia calls for probe into ‘absurd’ reports of Bezos phone hacking at The Hill. “Recent media reports that suggest the Kingdom is behind a hacking of Mr. Jeff Bezos’ phone are absurd,” the Saudi Embassy in Washington, D.C., tweeted. “We call for an investigation on these claims so that we can have all the facts out.” Read more
…UN calls for investigation into alleged Saudi crown prince involvement in Bezos phone hack at CNBC. “UN Statement: ‘The alleged hacking of Mr. Bezos’s phone, and those of others, demands immediate investigation by US and other relevant authorities, including investigation of the continuous, multi-year, direct and personal involvement of the Crown Prince in efforts to target perceived opponents.” Read more
America’s Best Employers For Diversity 2020 List at Forbes: eBay #53, Best Buy #65, Target #90, Trader Joe’s #121…” List
Venmo woos retailers with branded, animated stickers for its newsfeed by Sarah Perez at TechCrunch. “Historically, the PayPal-owned app’s users would comment on their transactions using text, or, as is more common, emoji. But now the company is planning to add support for custom, animated stickers, as well…For example, one is of a hoagie sandwich broken in half with text that reads “split the bill.” Another features a spinning pizza. One includes two characters pushing an IKEA shopping cart. And so on.” Read more
Lucky’s Market reportedly plans to shutter as many as 32 of its 39 stores in 10 states by Kelly Tyko at USA Today. Read more
World’s Most Admired Companies at Fortune: Amazon #2, Starbucks #6, Costco #9, Walmart #18, Nordstrom #20, Home Depot #21, Target #22…” List
**A message from Sweets & Snacks Expo. Save the date: May 19-21, 2020 at McCormick Place in Chicago. Your year starts here. Website/Register
Greeting card and stationery chain Papyrus is closing all 254 of its stores by Kelly Tyko & Nathan Bomey at USA Today. “Most of the 254 closings will take place over four to six weeks, said Dominique Schurman, CEO of Papyrus parent company Schurman Retail Group.” Read more
Fairway planning to file for Chapter 7 bankruptcy, close all its stores by Lisa Fickenscher at NY Post. “The New York City chain — known for its wide selection of cheeses and cheap produce — is planning to file for a Chapter 7 bankruptcy, which means the grocery chain does not currently have a plan to continue to exist…Under the current plan, Fairway will close all 14 of its stores, including its flagship store at Broadway and West 74th Street, sources said.” Read more
Lawsuit claims Amazon and freight partner worked truck driver ‘into the ground,’ causing him to crash by Nat Levy at GeekWire. Read more
Stamped on Target’s new athleticwear: an homage to its parent, Dayton’s by John Ewoldt at Star Tribune. “As they planned the All in Motion line, Target designers envisioned a logo representing “collective, inclusive movement.” They found it in one developed for its predecessor 52 years ago.” Tiered subs.
Ulta Beauty CEO Mary Dillon to Chair Retail Industry Leaders Association Board of Directors Press release
Sainsbury’s turns to retail boss as CEO checks out at Reuters. “Sainsbury’s has picked retail and operations director Simon Roberts to succeed CEO Mike Coupe, the architect of the British supermarket group’s failed bid for rival Asda who will step down in May after six years at the helm.” Read more
RH CEO Gary Friedman Bags Another Beverly Hills Estate by James McClain at Variety. “Earlier this month, amid much publicity, he shelled out $37 million for a brand-new Beverly Hills-adjacent estate. But as it turns out, he’s not stopping there — records reveal he’s quietly forked out another $15 million for a second property elsewhere in the same general area.” Pics/Read more
Target worker rakes in over $30K in donations after customer shames her on social media for not selling an electronic toothbrush for a penny by Karu F. Daniels at NY Daily News. “My first thought was I wish I had worn makeup to work that day,” Perrotti joked during an interview with NBC News. “It’s so often that people will take the picture and make a meme out of it in a mean way,” she said, adding that “it’s nice to see there’s publicity out of this to support me and my feelings.” Read more
Tipsheet Extra
Starbucks to phase out black plastic in Canada
Amazon wins patent for robots that drop off bunches of items on delivery routes
France to put on hold digital tax plan, meet with US
Inside the $10 million cyber lab trying to break Apple’s iPhone
Costco’s sea cucumbers sign of global growth opportunity
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