Tipsheet: Petco Cuts 180 | Target Closes 138 Studios | JCP “Too Many” Stores | Wmart Exec Mentors
Petco cutting 180 jobs by Phillip Molnar at San Diego Tribune. “…with about 50 at its San Diego headquarters, the pet supply retailer confirmed Wednesday. The company made the cuts across its workforce and include both existing and open positions. Petco has about 650 workers at its headquarters in Rancho Bernardo.” Read more
JCPenney CEO Marvin Ellison thinks he has “too many” stores by Korri Kezar at Dallas Business Journal. “And roughly 92 percent of all of our e-commerce returns take place in a physical store,” (Ellison) added. “Roughly 40 percent of the time someone comes in to return something, they buy something. Typically what they buy is 2 times (the cost of) what they’re returning.” Read more
Target Will Close Its Remaining Portrait Studios by Mahita Gajanan at Fortune. “Target will close its remaining Portrait Studios, a spokesman for Lifetouch, the Minnesota-based company that operates the studios confirmed to Fortune. The retailer closed 145 of its Portrait Studios last July, citing re-model plans to allocate the spaces differently. The 138 remaining studios will close by Jan. 28, Lifetouch spokesman Kelvin Miller said.” Read more
Amazon Canada fined $1 million plus $100,000 costs for misleading price claims on website by Hollie Shaw at Financial Post. Read more
Whole Foods is moving its North Atlantic regional headquarters from Cambridge to Marlborough this spring by Catherine Carlock at Boston Business Journal. Read more
Amazon removes Indian flag doormat from site after official threatens to rescind employee visas by Kurt Schlosser at GeekWire. Read more
Z Gallerie opening East Coast distribution center in metro Atlanta by Jacques Couret at Atlanta Business Chronicle. “The center in the Skyview Business Center will have 225,000 square feet of office and warehouse space. It will be up and running at full capacity by 2019.” Read more
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Wal-Mart exec Rita Carney talks importance of mentoring girls in STEM education by Kim Souza at The City Wire. “Carney is taking part in the national movement known as Million Women Mentors along with Karenann Terrell, chief information officer for Wal-Mart Stores. They are leaders in the movement since Wal-Mart has sponsored the entire state as part of this national mentoring initiative active now for two years.” Read more
United Airlines flies into Saks for elevated takeover at Luxury Daily. “Saks Fifth Avenue is soaring on street level with a United Airlines-themed window takeover that recreates the feeling of flying for passersby.” Pics/Read more
P&G launches retail shop in Cincinnati to showcase local entrepreneurs by Andy Brownfield at Cincinnati Business Courier. “The shop is the brainchild of P&G’s Tide brand, growing out of the MyTide product, which allows customers to go online and customize their own detergent from label to scent…Preneur is starting with 12 business owners…Those include things like skincare and wellness products, leather goods, plants and even a local startup’s product.” Read more
Target Nears Exit In Snowboarder Shaun White License Row by Bonnie Eslinger at Law 360. “A California judge Wednesday tentatively granted Target Corp.’s request to escape a sports-supply company’s claims the retailer undercut the terms of a multimillion-dollar licensing deal the supplier made with Shaun White and Creative Artists Agency, saying the complaint didn’t show Target had an obligation to the plaintiff.” Read more (subscription)
Two retail standouts are shaking up a tired piece of the industry by Krystina Gustafson at CNBC. “Wayfair operates only online, whereas At Home sells its merchandise only in stores — they’re both grabbing share in a category that’s both fragmented and behind on innovation. “With the death of furniture in many of the department store retail environments, you really don’t have a good high-middle-end of home decorating” Greg Portell told CNBC.” Read more
Bon-Ton holiday comp sales decline 3.1% by Melanie Lawder at Milwaukee Business Journal. Read more
Amazon to Create More Than 100,000 New, Full-Time, Full-Benefit Jobs across the U.S. over the Next 18 Months Press release
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