Tipsheet: Lore Q&A | Target +3.4% | N.Rack Head Exits
Target’s comp sales +3.4 percent during the holiday season, topping an expected range of 0 to 2 percent at CNBC. “Target said fourth-quarter comparable sales should climb closer to 3.4 percent, compared with a prior estimate of 2 percent growth.” Read more
Walmart’s Marc Lore talks to Fast Company “Voice will be the next big way to leverage data. It will enable people to communicate either in their car or home or on their device and shop in a conversational way with a robot in the way that they would with a specialist on the showroom floor of a retailer. That robot will know you as well as your mom and dad.” Q&A
Nordstrom Says Head of Nordstrom Rack Division to Retire in March by Suzanne Kapner at Wall Street Journal. “Karen McKibbin, 57, will be succeeded by another longtime Nordstrom executive, Geevy Thomas, who is currently the company’s chief innovation officer, the retailer said.” Read more (subs.)
New Neiman Marcus CEO Faces Steep Challenge of $4.8 Billion Debt by Lindsey Rupp & Emma Orr at Bloomberg. “With its current debt levels, an outright sale of the company — either to another private equity buyer or to a strategic partner — seems unlikely. “I don’t think there are a ton of buyers, honestly, unless they do something miraculous,” Hebert said.” Read more
H&M Apologizes After Using Black Child in ‘Monkey’ Hoodie Ad by Anna Molin & Niklas Magnusson at Bloomberg. “We are deeply sorry that the picture was taken and we also regret the actual print,” H&M said. “Therefore, we have not only removed the image from our channels, but also the garment from our product offering globally.” Read more
…The Weeknd dumps H&M after monkey sweatshirt ad via ABC News. “In a statement, H&M said, “We completely understand and agree with his reaction to the image.” The Swedish low-cost fashion brand added that it would “continue the discussion” with The Weeknd and his team.” Read more
Wal-Mart de Mexico’s Sales Growth Lost Steam in 2017 by Anthony Harrup at Wall Street Journal. “Walmex said sales last year rose 7.7% to 569.4 billion Mexican pesos ($29.6 billion), the smallest expansion since 2014.” Read more (subs.)
Wayfair adds TJX exec to board as early investor leaves by Kelly J O’Brien at Boston Business Journal. “Jeffrey Naylor, who formerly held C-suite financial and administrative roles at retail giant TJX Companies Inc., is joining the board of Wayfair Inc.” Read more
Sprouts reported comparable store sales growth of 4.6 percent during the final quarter of 2017 by Brandon Brown at Phoenix Business Journal. Read more
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Target introducing Universal Thread – an exclusive women’s denim brand featuring tops, dresses, accessories and shoes at A Bullseye View. Read more
Sears Canada pensioners stagger under stress of cuts Meghan McCabe at CBC News. “Life insurance, health and dental benefits were cancelled in September, and along with 18,000 retirees across Canada, Husk expects his pension will be cut by roughly 20 per cent. “That leaves me in a spot where, well, I’m going to need more money to make ends meet,” he said.” Read more
Bon-Ton sees 2.9% slump in comparable store sales during the holiday shopping season by Melanie Lawder at Milwaukee Business Journal. Read more
Walmart Shoppers Sue Over Labeling Of ‘Cage-Free’ Eggs by Joyce Hanson at Law 360. “A proposed class of consumers sued Walmart Stores Inc. and an egg supplier in California federal court Monday for allegedly lying about the treatment and condition of hens laying Walmart store-brand Organic Marketside eggs, saying the “cage-free” eggs are falsely labeled as having come from hens with outdoor access.” Read more (subs.)
Up to 2,000 people possibly exposed to hepatitis A at Utah 7-Eleven at CBS. Read more
Regis closing about 600 SmartStyle salons inside Walmart stores by Paul Walsh at Star Tribune. “The salons, housed in many Walmart stores, were considered by Regis to be underperforming. About 2,000 SmartStyle salons remain.” Read more (tiered subs.)
Why Airfreight Traffic Is Up: Dog Food and Semiconductors Are Vying for Space by Doug Cameron & Jennifer Smith at Wall Street Journal. “You’re literally begging and pleading to get on airplanes, leveraging any contact you can,” said Neel Jones Shah, global head of airfreight for Flexport Inc., a San Francisco-based firm that helps customers arrange freight shipments online.” Read more (subs.)
American Eagle Outfitters CEO to buy condo in new Ritz-Carlton Residences, Miami Beach by Brian Bandell at South Florida Business Journal. Pics/Read more
Tipsheet Extra Stories
Brad Pitt Unsuccessfully Bids $120K to Watch Game of Thrones with “Daenerys”
Nebraska farmers gearing up to provide chickens for Costco
Willie Nelson ends San Diego concert after a song, cancels his shows this week
Sunoco in Final Steps to Sell 1,100 C-Stores to 7-Eleven
Loblaw places restrictions on $25 gift card offer after bread price-fixing scheme
Whole Foods names new President to lead Northeast
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