From Online Shoppers to Dairy Farmers, the New Nafta Will Leave Winners and Losers in Its Wake at Fortune. “The deal will raise Canada and Mexico’s de-minimis levels, or the threshold above which consumers pay tax on a cross-border shipment. This means, for instance, that Canadians will now be able to buy more online, tax-free.” Read more
The World’s 100 Most Powerful Women at Forbes.
Judith McKenna #21
Roz Brewer #43
Can Bergdorf Goodman Win the Barneys Race? by Sapna Maheshwari at NY Times. “While (President Darcy) Penick, who speaks in measured tones and has a blond pixie cut, aims to propel Bergdorf’s forward, her office is steeped in reminders of the store’s legacy. There is a letter from Jacqueline Kennedy to a Bergdorf’s associate about hats, and a photo of a young Michael Kors, who got his start at the store.” Tiered subs.
lululemon Q3 comp sales +16% Press release
Safeway Owner, Rival Grocers Bet on Smaller Warehouses by Jaewon King at Wall Street Journal. “The owner of the Safeway and Jewel-Osco chains is adding small fulfillment facilities at two stores in South San Francisco, Calif., and San Jose, Calif., in partnership with Takeoff Technologies Inc., which builds automated warehouses. Albertsons said it is establishing more of these 10,000-square-foot distribution centers, which each cost about $3 million to build.” WSJ subs.
Home Depot 2019 Investor and Analyst Conference Transcript via Seeking Alpha. Transcript
Tariff Threat Dims Holiday Cheer for Christmas Tree Company by Alex Leary at Wall Street Journal. “Mr. Harman is chief executive of Balsam Brands of Redwood City, Calif., which sells artificial Christmas trees made in China. One of the factories that he buys from has given him a Dec. 20 deadline to place orders for next year…Since tariffs will force him to take either lower profit margins or fewer sales, Mr. Harman’s company is holding off plans to add 50 people to its U.S. workforce of 130.” WSJ subs.
Dollar Tree, Inc. makes leadership changes “Michael A. Witynski has been promoted to Enterprise President…Richard L. McNeely has been promoted to Chief Merchandising Officer…Thomas R. O’Boyle, Jr. has been promoted to Chief Operating Officer.” Press release
Size, color and smell: Livestreaming rings up big sales in China by Brenda Goh at Reuters. “While e-commerce growth has slowed in a stuttering economy, the world’s second-biggest, the livestreaming model has given retailers a shot in the arm. Alibaba Group said over 50% of its Tmall merchants used livestreaming to sell nearly 20 billion yuan ($2.84 billion) of products on Singles Day last month.” Read more
Americans’ Credit Card Debt Poised to Reach 10-Year High at Bloomberg/Yahoo. Read more
Home Depot ties opioid crisis to recent surge in store theft by Matthew Boyle at Bloomberg via MSN. “In response, (Home Depot) is using technology including machine learning to anticipate where the crime rings are headed next. It’s also installing technology so that power tools won’t work unless they go through the retailer’s point-of-sale system, while working with local law enforcement and taking some high-value inventory off the sales floors…The “significant” impact of thefts was a reason why Home Depot’s operating profit margin should narrow to about 14% next year, the company said.” Read more
Former Snap exec Imran Khan’s retail site Verishop has teamed up with a US mall owner to open 14 stores at CNBC. Read more
Walmart, Flipkart invest in fresh produce supply chain startup in India by Kim Souza at Talk Business. “Ninjacart’s focus on direct-from-farm sourcing resonates well with Walmart’s commitment to supporting farmers in India. We are working towards our commitment of sourcing 25% of produce in our Best Price cash-and-carry stores directly from farmers by 2023…,” said Krish Iyer, president and CEO, Walmart India.” Read more
RH Chairman & CEO sells 6.9% of his RH common stock ownership position Press release
QUEBEC RECORD STORE CRACKDOWN – Mile End record stores facing steep fines for staying open past 5 p.m. by T’cha Dunlevy at Montreal Gazette. “Several Mile End record shops were celebrating their unlikely survival (on Record Store Day) along with the rest of the world on Saturday, April 13, when a little past 5 p.m. they got a not-so-friendly visit from Quebec’s Ministère de l’économie et de l’innovation…Eight months later, those warnings have turned into hefty fines they say threaten their livelihood.” Read more
The Hollywood Reporter’s 2019 Women in Entertainment Power 100
The great $50M African IP address heist
The 100 most important gadgets of the decade
Toy industry turns to Trump pal to save it from tariffs
Study says Americans spend over $1,000 a year on lotto tickets
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