Tipsheet: Rahm Keeps Calling Cornell | Wegmans #1 Workplace | Costco +6.6%
The 20 Best Workplaces in Retail 2018 (Wegmans #1, Publix #2, Sheetz #4, Burlington #5) at Fortune. List
Costco October comp sales (ex. gas & f/x) +6.6% “Net sales of $11.16 billion for the retail month of October, the four weeks ended November 4, 2018, an increase of 10.6 percent from $10.09 billion last year.” Press release
TARGET STANDS BY ‘DIFFICULT DECISION’ – Chicago South Side stores will close, despite city’s push to reconsider by Lauren Zumbach at Chicago Tribune. “Mayor Rahm Emanuel has spoken with Target’s CEO at least five times since the company notified the city of its plans the day before the closures were announced publicly, and he has offered millions of dollars in tax increment financing assistance.” Tiered subs.
…Rahm exec order would stop closings like Target’s plans in Chatham, Morgan Park by Fran Spielman at Chicago Sun Times. “… the mayor is doing the legislative equivalent of closing the barn door after the horses are already out. Emanuel signed an executive order on Wednesday that, in essence, would empower the city to recoup city subsidies from developments that lease space to retailers that open stores in one Chicago neighborhood while also closing them in another.” Tiered subs.
Walmart is holding parties in its stores on Thanksgiving, kicking off online deals earlier than ever before at CNBC. “Walmart will hold events in stores on Thanksgiving Day from 4 p.m. to 6 p.m. with free coffee and cookies. As it did last year, Walmart will officially kick off Black Friday deals in stores at 6 p.m. that Thursday. Online, Walmart will be rolling out Black Friday deals at 10 p.m. ET on Nov. 21, earlier than it’s ever done before.” Read more
Coty Q1 net revenues -9.2% Press release
P&G introduces new concentrated Tide box for e-commerce only by Alexander Coolidge at Cincinnati Enquirer. “…the new formulation and packaging targeted for digital sales is the first of its kind at the company…the first major P&G product designed without regard to how it will appeal to consumers in any traditional store.” Read more
Man shot and killed inside Brooklyn Target at NY Post. “One shot. Just sounded like ‘pow,’” said a mall security guard who did not want to be named. “Then all the Target employees, everyone on the [second floor] just started running.” Read more
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Report: Cherokee Debt Acquisition, a distressed debt purchaser, sent letters this week to a number of Sears vendors offering to buy their receivables for 55 cents on the dollar at NY Post. Read more
Alexa and Amazon Echo Now Available in Mexico Press release
Best Buy is having a pre-Black Friday sale this week by Catherine Roberts at Star Tribune. “Some of the holiday deals at Best Buy are on the shelves now. Through Sunday, the Richfield-based retailer will offer deals on several big ticket items, including the Toshiba Fire TV, which it sells exclusively for Amazon.” Tiered subs.
Office Depot Q3 retail sales -6.0% Press release
Report: Google is planning a major expansion in New York City at Boston Herald. “The Wall Street Journal reported Wednesday that the company plans to add space for more than 12,000 additional New York workers…The paper said Google has New York real estate deals in the works that would give it room for nearly 20,000 workers.” Tiered subs. | WSJ article (subs.)
Vitamin Shoppe Q3 comp sales -1.9% Press release
Instacart’s ‘Click and Collect’ Pickup service is now available in nearly 200 stores — across 25 “key markets” at Techcrunch. Read more
150 trailers of mail pile up as Canada Post strike shuts down Canada’s biggest processing plant again at Financial Post. “The Canadian Union of Postal Workers says 4,500 Canada Post employees joined picket lines in Toronto at 7 p.m. Tuesday.” Tiered subs.
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