Lowe’s to cut over 200 jobs in Charlotte, relocate hundreds more to nearby HQ by Katherine Peralta at Charlotte Observer. “On Thursday morning, roughly 600 full-time employees at the Lowe’s corporate offices in Wilkesboro were informed that their jobs would be shifting to the retailer’s headquarters in Mooresville, about an hour away. About another 80 Wilkesboro-based tech jobs will be moved to the Lowe’s data center in Winston-Salem.” Tiered subs.
Walmart CEO McMillon interviewed on CNBC: “I think … the consumer is in pretty good shape. I think the customer is in about the same shape they were in [the fourth quarter].” 3:43 video
Hit by rent hike at New York flagship, Barneys New York gets lifeline with $50 million in credit at CNBC. “Rent at Barneys’ flagship on Madison Avenue jumped from roughly $16 million to approximately $30 million in January, the people said. Barneys says the extended credit line will support business growth, including new store openings and international growth initiatives.” Read more
Amazon’s Rise in Ad Searches Dents Google’s Dominance by Suzanne Vranica at Wall Street Journal. “WPP PLC, the world’s largest ad buyer, spent about $300 million on behalf of its clients on Amazon search ads last year, and about 75% of that money came from Google search budgets, according to people familiar with the matter. It spent between $100 million and $150 million on Amazon search in 2017, the people said.” WSJ subs.
Walmart Loses Another Senior Female Executive as Katie Finnegan Leaves by Matthew Boyle at Bloomberg. “Finnegan, who joined Walmart when it acquired Jet.com in 2016, is leaving June 7 to “begin a new adventure outside the company,” according to a blog post from Walmart Senior Vice President Lori Flees. During her tenure, Finnegan helped launch Store No. 8.” Tiered subs.
Amazon reportedly making AirPods competitor with built-in Alexa and better audio quality by Taylor Soper at GeekWire. Read more
Walmart agrees to pay $495,000 for selling products with misleading packaging at ABC 30 News. “Basically had what is referred to as nonfunctional side fill, false sidewalls false bottoms in the packaging,” said Fresno County Deputy DA Ty Murphy. Murphy says the investigation began in 2015… Prosecutors found 14 products that could be considered deceptive. “Antiaging cream moisturizers there were some eye drops…” Murphy said.” Video/Read more
Jeff and MacKenzie Bezos finalize divorce; Amazon CEO keeps 75% of couple’s stock by Taylor Soper at GeekWire. Read more
…Jeff Bezos keeps Amazon voting power in divorce settlement at AP. Read more
GrubMarket raises $25M more for its farm-to-table food delivery service by Ingrid Lunden at TechCrunch. Read more
Amazon wants to launch thousands of satellites so it can offer broadband internet from space at CNBC. “Project Kuiper” is Amazon’s plan to launch 3,236 satellites to build a network to provide global high-speed internet.” Read more
America’s favorite brands (Amazon #1, Home Depot #5, Dollar Tree #9) by Morning Consult via Business Insider. Top 25 list
…favorite brands of college-educated consumers making over $75K a year (Amazon #1, Costco #2, Home Depot #3) at Business Insider. Top 15 list
Nike to add perks to customer loyalty program by Lisa Fickenscher at NY Post. “The shoemaker is testing a slew of extra perks to its Nike Plus app — including vending machines that disperse free stuff — as it finds that those users spend 40 percent more than other customers, according to Nike’s global vice president of direct stores, Cathy Sparks.” Read more
57% of Americans say social media sites like Facebook and Twitter do more to divide the country than unite it at NBC News. Read more
Wayfair will have its second “Way Day” sale on April 10 by April Berthene at Internet Retailer. “Last year, Wayfair said Way Day was its largest sales day ever in terms of revenue, and data from Rakuten Intelligence estimates that sales during the week of Way Day increased 91.2% for Wayfair compared with a week earlier.” Read more
How Casper’s founders went from $100,000 in debt to building a billion-dollar mattress start-up at CNBC. Read more
Tipsheet Extra Stories
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QuikTrip’s 800th Store Opens in San Antonio
Beyonce, Adidas team up on sneakers, clothes and Ivy Park
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