Tipsheet: McMillon @ Summit | Ikea Bad Photo | Q&A: H.Depot/Saks
Home prices in August see biggest gains in more than two years, S&P Case Shiller says at CNBC. “The 10-City Composite posted a 4.7% gain, up from 3.5% in the previous month. The 20-City Composite rose 5.2% year-over-year, up from 4.1% in July.” Read more
Doug McMillon Speaks at the Yahoo Finance All Markets Summit “We have been through a lot of these [elections]. We want to help the country get stronger, so whatever we are asked to do that’s what we’ll do. We hope to contribute to bringing the country together as it is related to things like inclusion, but we want to solve other problems too if we are asked how can we serve the country,” McMillon said when asked how higher corporate taxes would impact the world’s largest retailer.” Video/Read more
Can Gap Escape the Whirlwind? New CEO Confronts Years of Decline at Wall Street Journal. “Ms. Syngal’s job is to avoid that vortex, in part by fixing Gap, the company’s namesake brand that some financial analysts say is so troubled that it is worth less than zero. She holed up in her San Francisco Bay Area house, working so many hours her children delivered food to her home office to make sure she was eating.” WSJ subs.
U.S. core capital goods orders beat expectations in September at CNBC. “Overall durable goods orders jumped 1.9% in September, compared with expectations of an increase of just 0.5%.” Read more
Amazon has created fertile ground for bribery schemes, sellers say at Recode. “In the wake of a $100 million Amazon bribery scandal, sellers say the tech giant deserves more scrutiny for suspending merchants with no warning and little explanation.” Read more
Bed Bath & Beyond Inc. Names Elizabeth Meltzer As General Merchandising Manager “Ms. Meltzer has over 25 years of experience in retail merchandising, most recently as SVP of Merchandising at The Gap…” Press release
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Home Depot CIO Matt Carey Q&A w/Wall Street Journal “Matt Carey, Home Depot’s chief information officer…and his team quickly spun out mobile apps for curbside-pickup services and real-time inventory-tracking software, among other tools. “It was like Black Friday every day,” he says about the unexpected run. Mr. Carey spoke to The Wall Street Journal about the efforts Home Depot made to get its technology in place and how it’s handling the surge in business.” Carey Q&A/WSJ subs.
Amazon Promotes Over 35,000 Employees Across North America Operations Network This Year, Opens 100,000 New Seasonal Jobs Heading Into the Holidays Press release
How Saks Fifth Avenue is providing luxury shoppers with ‘comfort food’ during the pandemic at Fortune. “Saks president Marc Metrick himself professes some surprise at luxury’s performance. “Christian Louboutin pumps, really? When are you wearing those?” he asks—rhetorically but with gratitude. He spoke with Fortune to discuss how Saks is managing the pandemic’s effects on its business.” Q&A
Kroger Announces Framework for Action: Diversity, Equity & Inclusion Plan “Kroger’s plan features five focus areas: Create More Inclusive Culture, Develop Diverse Talent, Advance Diverse Partnerships, Advance Equitable Communities, and Deeply Listen and Report Progress.” Press release
Dollar General Announces One-Day-Only Early Holiday Savings on November 13 Press release
Consumer companies pitch discounts, bargain products as economic malaise looms at Reuters. “Consumer spending levels are not going to recover until at least end-2022, so there is going to be a sustained pressure on consumer-packaged goods companies to offer promotions and incentives,” said Oliver Wright, Accenture’s global industry lead of consumer goods and services.” Read more
Ikea’s 2021 catalog delayed as company removes potentially offensive image at Fox Business. “Ikea’s release of its widely anticipated yearly catalog was stalled as the company removed a potentially offensive photograph showing a Black man trying to assemble furniture while wearing a shirt that, to some, resembled an inmate’s uniform, according to a report confirmed by FOX Business.” Read more
Tipsheet Extra
Amazon Suggests Outlet Deals to Trim Excess Inventory
BP reports 3Q earnings plunge amid falling demand
KFC is bringing back its ‘fried chicken-scented’ firelog
UK to ban sale of carrier-locked phones from December 2021
RV rentals are up for the holidays in response to social distancing
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