Tipsheet: Penney’s 1st Store | ‘Save Barneys’ Fizzles | China Small Town Battle
J.C. Penney creates the store of its wishes in Hurst, Texas – settles on using it as a lab by Maria Halkias at Dallas Morning News. “With 13% less inventory, that space has been given back to the shopper in the form of 11 lounges to “hang out and chill so they can continue shopping.”…A Pearl Cup coffee bar is on the first level and the popular local coffeehouse is operating a café with food on the second level. A shop designed by the Dallas Cowboys organization has a fitness studio behind it and a couple of social media-ready spots, including a star to stand in.” Tiered subs.
‘Save Barneys’ campaign fizzles as bidder bows out by Lisa Fickenscher at NY Post. “Barneys employees at the Madison Avenue flagship learned the sale to ABG in a Thursday letter from Barneys Chief Executive Daniella Vitale. “They are in panic mode” over the prospect of losing their jobs in the coming weeks, one staffer said.” Read more
Armed for sales success, Target unleashes holiday campaign by Adrianne Pasquarelli at Ad Age. “Target’s holiday marketing push this year may look similar to previous years. Like last year, it’s starting on Nov. 1. There are 20 English spots and 18 Spanish spots, the same lineup as in 2018.” Tiered subs.
Dressbarn liquidation starts Friday at all locations, new website planned by Kelly Tyko at USA Today. “While the 544 stores will close no later than Dec. 26, the women’s clothing website is expected to relaunch in 2020 with a new owner.” Read more
Amazon confirms its Amazon Go team is ‘running internal tests’ at secretive retail store in Seattle by Taylor Soper at GeekWire. “It’s an unusually large space for a potential new Amazon Go store, and sits below an apartment complex in a residential neighborhood, unlike the 16 existing locations nationwide.” Read more
Google, Walmart Help Drive India Payments Past 1 Billion Transactions by Saritha Rai at Bloomberg. “Amazon and Google now vie with local startup Paytm, Walmart-PhonePe and a host of other players in a digital payments market forecast to quintuple to $1 trillion by 2023.” Tiered subs.
China’s online retailers take the battle to the hinterlands at Reuters. “Alibaba and JD.com have for years tried to unleash rural China’s spending power…But the success of Pinduoduo’s model, which offers users deeper discounts on mostly generic products if they buy in groups, and encourages them to share purchases through messaging app WeChat, is driving Alibaba and JD.com to make a fresh push into China’s lower-tier cities.” Read more
In 2018, Amazon dominated the online costume market with about 85% of all sales but others are catching up this year at CNBC. Read more
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Kroger tests package pick-up, drop-off service by Alexander Coolidge at Cincinnati Enquirer. “Kroger is working with UPS, FedEx and the U.S. Postal service in an experiment to act as a drop-off and pick-up location for packages for customers. The pilot project will be launched in 2019 at 220 stores, according to a report by Business Insider. Kroger officials confirmed the plan to The Enquirer but offered no details, including whether Cincinnati stores will be involved in the test.” Tiered subs.
Marathon announces plans to spin off its Speedway chain at CNBC. “Marathon said Speedway would trade as an independent public company after the separation is completed.” Read more
Boot Barn Q2 comp sales +7.8% Press release
The Liquor Everyone’s Buying – And Nobody’s Drinking at Wall Street Journal. “China’s Kweichow Moutai Co. has become the world’s most valuable liquor company thanks to a fiery spirit that can cost nearly $400 a bottle…One drawback: many people can’t stand it. The taste is “very much like ethanol,” said Jenny Miao, a 26-year-old market researcher in Shanghai.” WSJ subs.
Jeff Bezos gathers power players Wednesday night at his NYC pad for a celebratory dinner at TMZ. “The event was filled with power couples, including Hollywood mogul Barry Diller and fashion icon Diane von Furstenberg, mega TV producer Mark Burnett and actress Roma Downey … and model Karlie Kloss and Joshua Kushner.” Read more
Tipsheet Extra
How Below-the-Radar Film Festivals Prey on Struggling Moviemakers
Founders Brewing Co. reaches settlement in racial discrimination lawsuit
Allen Institute maps out a high-resolution ‘org chart’ for connections in the brain
Breaches at NetworkSolutions, Register.com, and Web.com
Pharmacy owner gets 10 years for fraud that ripped off veterans’ program
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