Tipsheet: McMillon Lunch Speech | Rona Approves Lowe’s | Target Needs Reality Check?
Walmart’s Doug McMillon Speaks at Luncheon by Nancy Peevy at The City Wire. “In a speech Wednesday (March 30) at the 11th annual Single Parent Scholarship Fund of Benton County Corporate Luncheon, Wal-Mart Stores CEO Doug McMillon told 325 Walmart suppliers and community leaders that the retailer is at a critical point. “Wal-Mart is over 50 years old now and retailers don’t typically make it through generational changes because leadership changes endanger the company,” he said.” Read more
Rona shareholders overwhelmingly approve $3.2 billion Lowe’s takeover by Ross Marowits at Canadian Press via Financial Post. “The transaction is expected to close by the end of May following approval by Investment Canada and the Competition Bureau…Outgoing Rona CEO Robert Sawyer believes Lowe’s will preserve the Rona and Reno-Depot brands in Quebec. “Outside of Quebec it’s another ball game, probably the big box stores will be eventually merged (into the Lowe’s brand)” Read more
Analyst: Target needs a reality check by Krystina Gustafson at CNBC. “We forecast that the general merchandise category as a whole will only grow by an aggregate $25 billion in the next five years,” McClintock told investors. “Given Target’s merchandise mix that is less food dependent than other general merchandise retailers [such as Wal-Mart or Costco], we believe the company could face the most pressure from this macro shift in consumer shopping channels.” Read more
Amazon Prime now available month-to-month — if you’re a Sprint customer by James Risley at GeekWire. “The partnership…gives Sprint customers all the benefits of Amazon Prime for $10.99 per month.” Read more
Detroit: Lowe’s/Ellen DeGeneres 500K School Donation Still On Despite Criminal Charges Against Principal by Tresa Baldas at Detroit Free Press. “Ronald Alexander, 60, principal at Charles L. Spain Elementary, was charged Tuesday with pocketing $23,000 in kickbacks from businessman Norman Shy in exchange for using him as a school supply vendor. He is one of 12 current and former principals implicated in a nearly $1-million bribery and kickback scheme involving school supplies that were rarely ever delivered.” Read more
Delivery App Postmates Rolls Out Amazon Prime-Style Service for $9.99 a Month by Whitney Filloon at Eater. Read more
Walmart’s First-Ever Sales Drop Marks the End of an Era by Shelly Banjo at Bloomberg. “For the first time ever — or at least since the company went public some 45 years ago — Walmart’s revenues shrank from the year before, according to its annual financial filing.” Read more
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NOT OVER YET? – Puerto Rico Appeals Decision Striking Alternate Biz Tax by Hannah Sheehan at Law 360. “The Commonwealth of Puerto Rico told the island’s federal court Thursday that it will appeal a March 28 decision barring the commonwealth from collecting an alternative corporate income tax from a Wal-Mart Stores Inc. subsidiary because it violates the U.S. Constitution.” Read more (subscription)
WSJ: E-Commerce Boom Roils Trucking Industry by Betsy Morris. “On a typical recent day, he throttled his semi-truck through the narrow streets of Gwinnett County, Ga., subdivisions, avoiding yard crews and children on bikes, until he reached the delivery he dreaded most: a 238-pound gun cabinet ordered online from Gander Mountain…Home deliveries are “the biggest thing this industry is dealing with right now.” Read more (subscription)
Teeniors teams with Walgreens on tech event by Kevin Robinson-Avila at Albuquerque Journal. “Seniors having difficulty navigating or operating their smart phones, tablets or laptops can get free, one-on-one coaching from tech-savvy teenagers at a special event Tuesday at the West Side Walgreens at Coors Boulevard and Sequoia Road.” Read more
Walmart is firing back at Costco with new cash rewards by Hayley Peterson at Business Insider via Yahoo. “The retailer’s cards — the Walmart MasterCard, Walmart credit card, and prepaid MoneyCards — will now offer 3% back on purchases made on Walmart.com, 2% back on fuel purchases at Walmart or Murphy USA gas stations, and 1% back on purchases at Walmart stores and everywhere else.” Read more | Read the release
LILLY PULITZER PRESIDENT PENS HBR STORY – What Lilly Pulitzer Learned About Marketing to Millennials by Michelle Kelly & Omar Artun at Harvard Business Review. “Although the company had historically seen mothers and grandmothers passing their love for Lilly on to their daughters, a closer look uncovered that influence also flowed in the opposite direction. This revealed another important role of millennial shoppers…they held enormous power to encourage other demographics to join the party.” Read more
EYE ROLLS AREN’T HARASSMENT 8th Circ. Says In Wal-Mart Win at Law 360. “The Eighth Circuit on Thursday shot down a Wal-Mart employee’s suit alleging she was discriminated against after she requested accommodations for her disability, finding that a new position assignment and eye rolls from management weren’t enough to support her claims.” Read more (subscription)
Coke Slaps More Than 70 Song Lyrics on Cans and Bottles by E.J. Schultz at Ad Age. “Lyrics cover a range of music, from rock ‘n’ roll classics like Queen’s “We are the Champions” to patriotic songs such as “Proud to Be An American” by Lee Greenwood.” Read more
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