Tipsheet: McKenna’s “TNTs” | Wgreen/Birchbox Team | Amazon $15 Trickery?
BETTER OFF? – Amazon eliminates monthly bonuses and stock grants after minimum wage increase at The Verge. “Currently, warehouse workers get two shares of Amazon stock when they’re hired ($1,952.76 per share as of writing), and an additional stock option each year. After the changes take effect, the RSU program will be phased out for stocks that vest in 2020 and 2021, and it will be replaced with a direct stock purchase plan by the end of next year.” Read more
Walgreens takes minority stake in digital makeup company Birchbox at CNBC. “Walgreens will experiment with adapting the concept to some of its stores, stocking shelves with more “prestige” makeup brands, dedicating 400 to 1,000 square feet of space to Birchbox and allowing customers to “build your own Birchbox” at Walgreens.” Read more
…Birchbox just gave the Walgreens beauty aisle a 21st-century makeover by Elizabeth Segran at Fast Company. “…at 11 flagship Walgreens locations over the next few months. In December, the first six stores will open in New York City, Chicago, Los Angeles, and Minneapolis, and then in early 2019, five more stores will open in Chicago, Dallas, Los Angeles, and Miami.” Read more
TNTs – Walmart International CEO Judith McKenna sweats the small stuff by Claire Zillman at Fortune. “…McKenna still sweats the small stuff—”TNTs,” as she calls them, for tiny, noticeable things. “What makes a difference sometimes is not big things but TNTs,”. An encouraging note, a congratulatory phone call, conversations with behind-the-scenes workers—those gestures can “make a real difference,” McKenna said.” 1:49 video/Read more
EBay accuses Amazon of ‘unlawful’ merchant poaching at CNBC. “We have uncovered an unlawful and troubling scheme on the part of Amazon to solicit eBay sellers to move to Amazon’s platform,” eBay said in a statement. “We have demanded that Amazon end its unlawful activity and we will take the appropriate steps, as needed, to protect eBay.” Read more
…eBay CEO: ‘I want to get as far away from Amazon as I can’ and stand for something different by Nat Levy at GeekWire. “Speaking at the GeekWire Summit, Wenig said the e-commerce world is big enough for a number of players, including both Amazon and eBay. He doesn’t view Amazon as a direct competitor, and wants eBay to continue to develop its own identity.” Read more
Pier 1 Q2 Comp Sales -11.4% Press release
How Toys ‘R’ Us plans to make its comeback by Lisa Fickenscher at NY Post. “The long-necked company mascot (Geoffrey the Giraffe) was spotted at the Fall Toy Preview in Dallas promoting the bankrupt retailer’s plans to open store-in-a-store concept shops this fall under the Geoffrey’s Toy Box nameplate…The first stores will open in November, likely within a large Midwest retailer, according to a report in The Toy Book, a trade publication.” Read more
Barnes & Noble may be preparing to put itself up for sale by Carleton English at NY Post. “One of those suitors is none other than Barnes & Noble founder and Chairman Leonard Riggio, who has a 19.2 percent stake in the company, including shares held by his foundation.” Read more | Press release
Neiman Marcus in talks with lenders for debt overhaul at Bloomberg via Reuters. Read more
GameStop Faces Fresh Headwind With Walmart Jumping Into Collectibles at Bloomberg. “Walmart announced it is rolling out its own dedicated section of “collectibles,”…partnering with Loot Crate, a collectibles subscription service, McFarlane Toys and CultureFly. They’ll also sell Funko merchandise — an area where GameStop is counted as one of the toy manufacturer’s top retailers.” Tiered subs. | Press release
Forbes 400: The Definitive Ranking Of The Wealthiest Americans (Bezos #1, Menard, Jr. #41) Ranked list
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Vanity Fair: The 2018 New Establishment List (Bezos #2) Top 100 list
Home Depot 2018 Innovation Award Winners “Overall Winner: Makita Sub Compact Program…First Runner Up: LifeProof Slip Resistant Tile…Second Runner Up: Halo Color Selectable LED Downlight Retrofits.” Press release
Tom Ward, vice president of digital operations at Walmart U.S speaks to supplier community by Kim Souza at Talk Business. “Walmart recently installed a robotic order picking system known as Alphabot in a store in Salem, N.H. Over the past 18 months, Walmart has helped Alert Technology develop the Alphabot technology to fully automate the order picking process.” Read more
CVS Pledges To Keep Aetna In Hartford For At Least 10 Years at NY Daily News. Read more
Bed Bath & Beyond Is Missing Out on Retail Rally by Suzanne Kapner at Wall Street Journal. “Their stores look the same as they did decades ago—cluttered,” said Cristina Fernández, a senior research analyst at Telsey Advisory Group…A basket of 50 items sold on Bed Bath & Beyond’s website in August was 16.2% more expensive than an identical basket sold by Amazon.com.” WSJ subs.
Serta owner may look to acquire Mattress Firm if it goes bankrupt by Josh Kosman at NY Post. Read more
NRF Forecasts Holiday Sales Will Increase Between 4.3 and 4.8 Percent Press release
Wayfair will launch two holiday pop-up shops on November 1 Press release
Philly: 1 killed, 4 injured in drive-by shooting outside Dollar General store at WPVI ABC 6 News. “Using chisels and saws, detectives worked to remove bullets lodged in trees, after they said at least 18 shots were fired around 2:30 p.m. Wednesday.” Video/Read more
Tipsheet Extra Stories
Bass Pro employee dies from brain-eating amoeba
Walmart recalls 246,000 axes after learning the heads can fly off while in use
Apple, Amazon deny Bloomberg report on Chinese hardware attack
Best Buy Appoints Cindy Kent to Board of Directors
The luxury sector is growing faster than many others and Gucci is in the lead
Popeyes serves up chicken wings coated in 24-karat gold batter
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