Tipsheet: Martinis @ Retail | Target Co. of the Year | AutoZone +3.4%
Fourth Floor, Men’s Wear. Fifth Floor, Martinis. at NY Times. “All over Midtown Manhattan, department stores are opening a new department: the spiffy, up-to-date cocktail bar. The new Neiman Marcus at Hudson Yards has Bar Stanley, a snug nook on the sixth floor that has two prebatched and bottled cocktails among its offerings. This month, Bergdorf Goodman will open Goodman’s Bar, an Italian-style cafe and aperitivo bar, on the second floor of its men’s store on Fifth Avenue.” Tiered subs.
AutoZone Q1 comp sales +3.4% Press release
California fines CVS $3.6M for failing to redeem recyclables at The Hill. “In California, stores located in “convenience zones” that do not have associated recycling centers must allow customers to redeem California Redemption Value beverage containers or face $100 per day fines.” Read more
Casey’s Q2 grocery/other merchandise comp sales +3.2% Press release
Retailers Don’t Like Paying the Fees for Your Apple Card at Bloomberg. “That’s because the card, marketed by Apple and backed by Goldman Sachs Group Inc., is designated “elite,” which allows it to levy significantly higher interchange fees on each swipe or tap.” Tiered subs.
Kroger slashes food waste to feed the hungry at The Hill. “It’s a journey,” Armbruster says. “You’ll see that reflected in the fact that we only estimate we’re capturing 40 percent of the food waste in our stores and the rest still ends up in landfill. But I would say you definitely would see a much different assortment in there now than you would have three years ago or even one to two years ago.” Read more
HD Supply Q3 net sales +2.0% Press release
She was Instacart’s biggest cheerleader. Now she’s leading a worker revolt. at Washington Post. “But Bain, then a 30-year-old mother, was quickly won over with meaningful work and a sense of respect. And her take-home pay rose roughly 65 percent compared to teaching and tutoring combined. At the end of a day working for Instacart, Bain had more energy, which made her a better mom…” Tiered subs.
Chewy Q3 net sales +40% Press release
Target is the Yahoo Finance 2019 Company of the Year “Obviously, there were some doubters out there a few years back,” Target CEO Brian Cornell tells Yahoo Finance. “But to see people put Target back in the winner’s circle, this iconic American retail brand, I take a lot of pride in the work the team’s done. And it’s certainly gratifying to see the progress that we’ve made.” Video/Read more
Empire wants to crack the Toronto grocery market and Farm Boy is its secret weapon at Financial Post. “When Empire’s chief executive Michael Medline acquired Farm Boy last year for $800 million last year, he said he wanted to double the chain’s 26 stores within five years. The plan, he once said, was to “blanket Toronto with Farm Boy.” Sobeys, Empire’s main banner based in Stellarton, N.S., has historically had trouble in Toronto, Medline said.” Read more
Lululemon COO to leave for luggage maker Away at Reuters. Read more
Companies Say They Want to Save the Planet—but They Can’t Agree How at Wall Street Journal. “Our objective is to avoid a huge divergence in what it means to be climate positive,” said Mark Griffiths, who works on climate issues at the World Wide Fund for Nature. WWF is facilitating an event Tuesday in Madrid at the United Nations’ conference on climate change, known as COP25, for companies to discuss the parameters for a global definition.” WSJ subs.
Hudson’s Bay Q3 comp sales -1.7% / Saks Fifth Avenue -2.3% / Saks Off 5th +4.9% Press release
…Hudson’s Bay Sales Slump Ahead of Vote on Baker’s Takeover Bid at Bloomberg via Yahoo. Read more
Tipsheet Extra
Jim Cramer: Macy’s, Kohl’s ‘have never felt more irrelevant’
Amazon’s Ring is making its first smart light bulb, FCC documents reveal
CDC: Salinas company salad kits linked to another E. coli outbreak
Dollar General to sell CBD cosmetics in select Tennessee and Kentucky stores
Museum of Ice Cream scoops NYC flagship location, eyes global expansion
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