Tipsheet: Lord & Taylor Sold | B.Buy’s Solid S.Chain | Tiffany -4%
Hudson’s Bay to sell Lord & Taylor for $100 million to clothing rental service Le Tote at CNBC. “Le Tote is an apparel rental service that allows subscribers to rent clothes for $79 a month. That Le Tote, which was founded as a start-up in 2012, is able to snag the longstanding department store chain, speaks to how far department stores have fallen. Lord & Taylor’s footprint had fallen to 45 department stores as of Feb. 2…” Read more
Tiffany Q2 comp sales -4.0% Press release
…CNBC: Tiffany shares jump after earnings beat “Tiffany on Wednesday reported quarterly earnings that easily topped analysts’ expectations: Earnings per share: $1.12 vs. $1.04 expected.” Read more
Costco limits shoppers in first China store after opening-day fiasco at Reuters. “No more than 2,000 shoppers at any given time will be allowed into the store in a Shanghai suburb, Costco’s first in China, and local police will help to improve the flow of traffic near the store, it said on Wednesday.” Read more
…Costco China video: CNN | Fighting over pork | Pass the pods
Express Q2 comp sales -6.0% Press release
Amazon Seeks Exclusive Programming for IMDb TV by Sahil Patel at Wall Street Journal. “In recent months, Amazon has asked content suppliers for more exclusive licenses to movies and TV shows for IMDb TV, according to people familiar with the effort.” WSJ subs.
Bulletproof backpacks pulled from shelves at Office Depot store by Rob Jennings at NJ Advance Media. “It is not clear if the directive was specific to that individual store, or stores in New Jersey, or perhaps nationally.” Read more
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Caribou opening Little Blue Cabins for drive through, walk up service Press release
Lowe’s executive apologizes for derogatory comment about Hispanics at CNN. “During an in-house video for Lowe’s employees, Joe McFarland, the home improvement chain’s executive vice president of stores, said a compact power drill was “perfect” for Hispanic customers with small hands.” Read more
Ron Johnson’s e-commerce startup Enjoy raises $150M, expands in UK by Sarah Perez at TechCrunch. Read more
China’s Potential New Trade Weapon: Corporate Social Credits by Yoko Kubota at Wall Street Journal. “It makes the instruments of the social-credit system usable as a tool in the trade conflict,” said Björn Conrad, chief executive and co-founder of Sinolytics, a China-focused consulting firm…” WSJ subs.
Walmart Announces the Hottest Toys of the Year Press release
Doorbell-camera firm Ring has partnered with 400 police forces by Drew Harwell at Washington Post via SF Gate. “Sgt. William Pickering, an officer with the Norfolk Police Department in Virginia, which is working with Ring, compared the system’s expansion to the onset of DNA evidence in criminal cases – a momentous capability, unlocked by new technology, that helps police gain the upper hand.” Tiered subs.
CVS fights ex-exec’s appellate bid to join Amazon’s PillPack at Reuters. Read more
Best Buy revs up supply chain ahead of the holiday season at CNBC. “Right now it seems to me [Best Buy] is farthest along in what I’ve called the holy grail of retail,” Moody’s retail analyst Charlie O’Shea said in an interview. “They have one pile of inventory in a distribution center both stocking stores and fulfilling online orders.” Read more
Farfetch says it is not acquiring Barneys New York Press release
Tipsheet Extra Stories
Amazon in talks for stake in Indonesia’s ride-hailing startup Go-Jek
Woman abandons six kids at a Walmart store
Marvel celebrates 80th anniversary with massive comic
TSA will not permit the stylized Coke bottles from Galaxy’s Edge on flights
Marriott banning little shampoo bottles by 2020
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