Tipsheet: Macy’s Big Beat | WM Scan & Go Gone | Avenue New CEO | Boot Barn +12.1%
MACY’S BEATS – Q1 Comp Sales: Owned Basis +3.9% / Owned + Licensed Basis +4.2% (vs. 1.4% Expected) Press release
…CNBC: Macy’s shares soar on earnings beat, strong sales growth “Earnings per share: 48 cents, adjusted, vs. 37 cents expected. Revenue: $5.5 billion vs. $5.4 billion expected. Same-store sales: an increased of 4.2 percent vs. an increase of 1.4 percent expected.” Read more
Target increasing men’s grooming offerings in 11 stores by Dan DeBaun at Minneapolis/St.Paul Business Journal. “The section — part of the store’s beauty aisles — will have over 600 products from brands like Harry’s Razors, Beardbrand, Byrd, Maestro’s Classic and Pacinos. The space will also have men’s hats and wallets from Target’s Goodfellow & Co. menswear brand.” List of stores/Read more
Best Buy exec Mike Mohan speaks against tariffs on Chinese TVs by Jim Spencer at Star Tribune. “Best Buy’s chief merchandising and marketing officer told federal trade officials Tuesday that a 25 percent tariff on Chinese-made flat-screen TVs will not stop unfair Chinese trade practices.” Read more (Tiered subs.)
Amazon Prime members to get 10% off many Whole Foods items nationwide starting this summer by Todd Bishop at GeekWire. Read more
Costco Rejects Money For Children’s Miracle Network Because It Came From Gun Seller by Charlie Richards at Townhall. Read more
Target cuts delivery fee by almost half by Charisse Jones at USA Today. “Target will cut its next-day delivery fee nearly in half for household staples…customers purchasing those goods through Target’s Restock service will pay a $2.99 delivery fee instead of $4.99. And those who buy items with a branded credit/debit card from the discount department store won’t pay anything extra at all.” Read more
Amazon’s e-commerce empire is on track to match Walmart sales domestically within the next two to three years, according to J.P. Morgan at CNBC. Read more
Instacart names GoFundMe Exec David Hahn as Chief Product Officer Press release
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‘Leery’ customers prompt Walmart to shelve self-scanning service at Bloomberg via Chicago Tribune. “Walmart has ended a service where customers could ring up their own purchases…The retailer had offered its so-called “Mobile Scan & Go” technology in about 150 Walmart stores…But while the service worked in Sam’s…it confused some Walmart shoppers, who found that bagging, weighing and then scanning items including fresh fruit and vegetables was a hassle.” Read more (Tiered subs.)
Nordstrom Expands Extended Sizing To 30 Stores With 100 Brands Press release
What to expect from Lord & Taylor, Walmart.com partnership by Lisa Fickenscher at NY Post. “More than 125 premium brands, including Tommy Bahama, Vince Camuto, Miss Selfridge, La La Anthony and H Halston, will soon be available on a dedicated Lord & Taylor site on Walmart.com, the companies said on Tuesday.” Read more
Boot Barn Q4 Comp Sales +12.1% – Plans to open 23 new stores in FY 19 Press release
Plus-size clothes chain Avenue names new CEO by Lisa Fickenscher at NY Post. “…named board member Mark Walsh as its new CEO — replacing Liz Williams, the company said on Tuesday.” Read more
Amazon unveils new office in Boston’s Fort Point for nearly 1,000 employees by Jordan Graham at Boston Herald. “Only about 350 employees work at the new office right now, but Touloumtzis said the remaining 550 will be hired soon.” 4 pics/Read more
Walmart Surprises 17 Unsuspecting Entrepreneurs Across the Country with Invitation to 5th Annual Open Call Event Press release
Petco taps inventor of Whole Food Movement to open hundreds of “stores within stores” Press release
The online grocer Good Eggs almost went bankrupt — but now a $50 million investment from Silicon Valley bigwig Bill Gurley has given it new life by Jason Del Rey at Recode. Read more
Home Depot’s Q1 2018 Results – Earnings Call Transcript at Seeking Alpha. Read more
Costco and Acushnet in talks over golf ball dispute “The companies asked a federal judge in Seattle for eight weeks to explore a settlement solution over the case that centers on Costco’s Kirkland Signature golf balls.” at Seeking Alpha
BERNIE SLAMS WALTON FAMILY & BEZOS – “Meanwhile, thousands of Amazon employees are forced to rely on food stamps, Medicaid and public housing because their wages are just too low,” he said. “And that is true of the Walton family of Walmart and other wealthy families. They get much richer while their employees get hurt.” at USA Today. Read more
Tipsheet Extra Stories
Kraft Heinz incubator announces its inaugural class of five food brands
Renderings of the new Aldi slated for Kohl’s store in WI
“Shape of Water” co-writer hired for “Bad Blood,” the Theranos movie
Muslims say retailers can help bring Ramadan into the mainstream
Alcohol industry pushes lawmakers to uncork excise tax relief
Toxic chemicals found in Canadian baby products, study finds
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