Tipsheet: Lowe’s CEO on ‘Second Mover Advantage’ | Target Techstars Winner


Retail sales edged up in Sept amid the biggest drop in spending at restaurants and bars in nearly 2 years at CNBC. “The Commerce Department said on Monday retail sales edged up 0.1 percent last month after a similar gain in August. Economists polled by Reuters had forecast retail sales increasing 0.6 percent in September.” Read more


Lowe’s CEO Marvin Ellison sits down for interview by Katherine Peralta at Charlotte Observer. “Ellison that said Lowe’s is testing (same-day/next-day delivery) in select places, but that the company’s supply chain isn’t “mature enough” to roll it out chain-wide. “I call it ‘second mover advantage.’ Sometimes it’s not terrible that you’re behind if you have the capital to catch up quickly,” Ellison said. “So we’re going to learn a lot from our competition. And we’ll be right there with them, if not right in front of them, in a few years.” Tiered subs.


Sears files for bankruptcy – will shutter 142 stores toward the end of the year at CNBC. Read more


Google is talking to Flipkart about launching its “shopping” tab in India at Fast Company. “One expert that spoke to the Economic Times says the new shopping tab is simply a precursor to Google setting up its own e-commerce marketplace in India.” Read more


Walmart acquires Bare Necessities to expand online offerings by Kim Souza at Talk Business. “Noah Wrubel, Bare Necessities co-founder and CEO, will oversee the intimates category across and while continuing to run the Bare Necessities business which offers more than 100,000 items from 160 brands.” Read more


Visa Among Companies Said to Miss Deadline to Store Indian Data at Bloomberg. Tiered subs.


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Retail’s New E-Commerce Headache: Delivering Workers to Warehouses by Erica E. Phillips at Wall Street Journal via Toronto Star. “Amazon has created a corporate team, Amazon Ride, that works with transit agencies…Amazon is fully or partly funding transit services in places including Joliet, Ill., Shakopee, Minn., Robbinsville, N.J., Breinigsville, Pa.” Read more


Twin Cities entrepreneurs’ app Runerra gets trial with Target by Catherine Roberts at Star Tribune. “Runerra is one of five companies that presented last week at the accelerator’s DemoDay — basically its graduation ceremony — with a Target offer in hand. “We believe Runerra is the future of connecting our cities and communities,” said Pulgam, who has dropped out of the University of Minnesota so he doesn’t have a “safety net” as he and his partners build the company.” Tiered subs.


Walmart reaches $65M settlement with cashiers over seating at Fox Business. “…to settle a class-action lawsuit from roughly 100,000 California-based cashiers who accused the retail giant of failing to provide seating during their shifts.” Read more


Walmart Canada spending $175 million to upgrade stores across the country via Financial Post. “The company plans to renovate 23 stores by February 2019…plans to make changes to help its online shopping business such as dedicated parking spaces for online grocery pickup and new areas in stores devoted to online orders.” Tiered subs.


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Krebs interviews SVP at the Center for Internet Security re: supply chain security

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