Tipsheet: McMillon/Woods #10 Leaders | U.S. Retail +1.6%/Canada +0.8% | Pier 1 Shutter up to 145
U.S. retail sales increased by the most in 1-1/2 years in March at Reuters. “The Commerce Department said retail sales surged 1.6 percent last month…Economists polled by Reuters had forecast retail sales would accelerate 0.9 percent in March. Retail sales in March advanced 3.6 percent from a year ago.” Read more
…Canadian retail sales jump 0.8 per cent in February – the first increase since October at Globe & Mail. Read more
Amazon.com plans to close its domestic marketplace in China by mid-July at Reuters. “Consumer insights firm iResearch Global said Alibaba Group Holding Ltd’s Tmall marketplace and JD.com Inc controlled 81.9 percent of the Chinese market last year.” Read more
Pier 1 Imports Q4 comp sales -13.7% Press release
…Pier 1 Imports to close up to 145 stores at MarketWatch. “Pier 1 shares tanked in after-hours trading, but they don’t have much farther left to fall after declining 81.9% in the past year…Wednesday’s closing price (was) less than 65 cents a share.” Read more
To Woo Shoppers, Stores Are Accepting Competitors’ Returns by Sarah Nassauer at Wall Street Journal. “For example, when shoppers want to return a product purchased on Levi.com they can choose to ship it to Levi, drop it off at a Levi store, or take it to a Walgreens store. “The main thing is this will drive more footfall into Walgreens,” using the chain’s convenient locations as an asset, said Alex Gourlay, co-chief operating officer of Walgreens Boots Alliance.” WSJ subs.
Barnes and Noble offers free download of Mueller report at The Hill. Read more
Chewy to create 1,200 jobs at new $55 million fulfillment center near Charlotte by Katherine Peralta at Charlotte Observer. “Chewy announced Wednesday it will open a new fulfillment center in Rowan County…Chewy has eight other fulfillment centers around the U.S.” Tiered subs.
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The World’s 50 Greatest Leaders (Doug McMillon #10) at Fortune. List
J.C. Penney fills key spots on corporate team with Walmart, Target, Macy’s hires by Maria Halkias at Dallas Morning News. “Steve Whaley becomes senior vice president, principal accounting officer and controller…Whaley joins Penney from Walmart…Laurene Gandolfo takes over as senior vice president for home product design and development. She spent more than 20 years in the home business at Macy’s and Bloomingdale’s. Trish Adams, who retired recently from Target, comes to Penney as a strategic adviser.” Tiered subs.
Dick’s Sporting Goods will sell $350 Nike Adapt BB shoes at two U.S. stores on Friday by Tonya Garcia at MarketWatch. Read more
Neiman Marcus Pushes Into Growing Market for ‘Preloved’ Handbags by Suzanne Kapner at Wall Street Journal. “Neiman Marcus Group is taking a minority stake in Fashionphile, an online seller of preowned designer handbags and accessories…The RealReal, a larger competitor to Fashionphile, is preparing for an initial public offering…And on Monday, a retail chain owned by H&M Group began allowing shoppers in Sweden to buy and sell previously owned goods.” WSJ subs.
Smart & Final markets bring $500 million in sale to an investment firm at MarketWatch. Read more
Best Buy Continues To Bet On Digital Health With New TytoHome Deal by Andria Cheng at Forbes. “It’s the first U.S. retailer to sell exclusively a telehealth device kit that allows consumers to perform medical tests on areas including heart, lungs, throat and ears and connect with physicians to remotely diagnose symptoms.” Read more
Kroger and Nuro Launch Autonomous Grocery Delivery Service in Houston Press release
French supermarket tests robot delivery at Reuters. “Casino’s Franprix chain will test the delivery robots on the streets of Paris’s 13th arrondissement for a year.” Read more
Metro Q2 food comp sales +4.3% / pharmacy comp sales +1.1% Press release
Tipsheet Extra Stories
U.S. Church Membership Down 20% in Past Two Decades
Forbes: America’s Best Midsize Employers
Lilly Pulitzer Launches A New Collaboration With Pottery Barn
Gluten found in 32% of food labeled gluten-free
Meet the 45-year-old executive helping Kroger take on the competition
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