NRF: Retail sales in 2018 could climb higher than previously forecast at CNBC. “Spending at retailers — excluding on automobiles, at gasoline stations and at restaurants — is predicted to climb between 4.2 and 4.8 percent, the National Retail Federation said Monday morning, giving a rare updated outlook for the remainder of the year. That’s compared with a prior range of between 3.8 and 4.4 percent.” Read more
Japan’s Don Quijote interested in buying Walmart’s Seiyu at Reuters. “Walmart has struggled to replicate the success of its low-price model with Seiyu, which has more than 300 stores…A Walmart spokesperson, however, said the retailer has not decided to sell Seiyu.” Read more
Retailers are marketing directly to kids shopping on their smartphones by Abha Bhattarai at Washington Post. “Nine-year-old Isabella Colello shops for just about everything online. She scrolls through the Amazon app on her phone at least once a day. She gets ideas from YouTube, searches on Google for things she wants and sends the links to her dad: pink swimsuits, earrings, Adidas sneakers (he said yes); Gucci backpack (no).” Tiered subs.
Walmart Lays Groundwork for New Streamer by Natalie Jarvey at Hollywood Reporter. “More than a few TV sellers have been angling for a meeting with former Epix CEO Mark Greenberg…Starting a viable streaming business won’t come cheap, and Walmart, a studio source tells The Hollywood Reporter, is expected to spend a couple billion dollars to launch its service.” Read more
As Barnes & Noble Struggles to Find Footing, Founder Takes Heat by Alexander Alter & Tiffany Hsu at NY Times. “Critics say the company lacks direction, sometimes seeming to prioritize sales of gifts and tchotchkes over books. For investors, the impact is already evident: Barnes & Noble’s stock price is down 60 percent over the last three years.” Tiered subs.
Google tracks your movements, like it or not by Ryan Nakashima at AP. “An Associated Press investigation found that many Google services on Android devices and iPhones store your location data even if you’ve used privacy settings that say they will prevent it from doing so.” Read more
Barneys facing huge rent hike at flagship after losing arbitration by Lori Weiss & Lisa Fickenscher at NY Post. “The decision…grants Ashkenazy Acquisition Corp. a rent hike to $30 million, The Post has learned exclusively. The 10-year deal for the 660 Madison Ave. store is approximately double the current rent of more than $16 million.” Read more
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Giant Eagle workers ratify three-year agreement with union by Tim Schooley at Pittsburgh Business Times. “The contract…calls for an increase to starting pay to $10 per hour, increasing to $11 per hour in two years.” Read more
Your debts and shopping could become an addiction. Here’s what recovery looks like at CNBC. “Members of Debtors Anonymous can often be divided into two groups: those who overwork and those who underearn…What they often have in common is ambition and pursuit of a certain dream or status.” Read more
Yoshi, billed as ‘Uber for gasoline,’ serving busy professionals by Peter Holley at Washington Post via Toronto Star. “In the past 12 months, the company has spread from three cities nationwide to 16…picking up investments from superstar athletes Kevin Durant and Joe Montana along the way…Yoshi has begun offering customers other gas station staples, such as oil changes, tire checks, car washings and brake pad replacements.” Read more
Lee, Wrangler owner VF Corp to spin off its jeans unit into a public company via CNBC. Read more
Report: Six is a saturation point for subscriptions by Kim Souza at The City Wire. “…for services like music and video streaming, grocery or fashion/beauty…Just 6% of consumers have more than seven subscriptions and less than 10, and 3% have more than 10.” Read more
France is banning smartphones in schools for students aged 3 to 15 at Fast Company. Read more
De Beers diamond heiress lists spaceship-inspired estate for $11 million by Patti Payne at Puget Sound Business Journal. “The double-gated 6,500 circular manse on 85 acres, with many egg shaped rooms, is built to be self sustaining, and includes a saltwater lap pool that is 80 feet long, a chicken coop, a corral, gardens, a greenhouse, and a guest-house “barn.” 25 pics
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