Tipsheet: Rev. Jackson Needles Bezos | Lowe’s +2% | Cornell/Simon “Clash”
Lowe’s Q1 U.S. Comp Sales +2.0% Press release
…CNBC: Lowe’s stock falls on earnings, sales miss “Home Depot is better at “a lot of little things,” Nagel said, incluiding adjusting merchandise and figuring out how to keep sales flowing in an “erratic” weather environment.” Read more
Walmart’s former CEO and Target’s CEO clash over one of Trump’s key policies by Kate Taylor at Business Insider. “It’s simple math,” Cornell said. “If the government takes nearly four out of every five dollars we make… there’s no capital to invest and no prospects for growth. And that matters a lot. Both to us and to the American economy. Instead of investing and creating American jobs, we’d be pushed in the other direction.” Read more
…Simon, who led Walmart for four years, took a more moderate position, believing the proposal could bring the intended economic benefits so long as it is implemented the “right” way at Fox Business. Read more
Tiffany Q1 Comp Sales -3.0% Press release
…Bloomberg: Tiffany Tumbles After Jeweler Reports Surprise Sales Decline “Even with the sales stumble, Tiffany was able to top earnings estimates, helped by higher operating margins. The company reported a profit of 74 cents, compared with a 70-cent projection.” Read more
Container Store Q4 Comp Sales -0.2% Press release
J.C.Penney’s New CMO is Ex-Lowe’s CMO Marci Grebstein by Korri Kezar at Dallas Business Journal. Read more
Cabela’s projects a same-store sales drop of 2% this year vs. earlier forecast of 1% growth, according to a Tuesday filing with the SEC by Josh Kosman at NY Post. Read more
Neiman Marcus recently met about a merger with real-estate behemoth Related Cos. by Lisa Fickenscher at NY Post. “Related is concerned about the teetering financial health of Neiman, and that the retailer might require financial backing as it gears up to anchor Related’s massive Hudson Yards office-and-retail complex on Manhattan’s West Side that’s slated to open late next year, sources said.” Read more
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CVS Health CEO Larry Merlo On GOP Health Care Plan, Opioid Crisis And Tax Overhaul at Nevada Public Radio. 9:52 radio interview
Amazon takes on Etsy with a new shop featuring handcrafted items for weddings by Sarah Perez at TechCrunch. Read more
Rihanna shares the stage with Neiman’s Karen Katz at NYC Benefit by Hilary Weaver at Variety. “No one can actually share the stage with [Rihanna],” Katz joked in her own onstage comments. Katz was right. Following the auction, a runway show, and award presentation for senior Parsons students, Rihanna was the main focus of the evening…” Read more
Walgreens CEO: need to “rethink its approach and do something radically different” in the front end by Brian Berk at Drug Store News. “CEO Stefano Pessina said Tuesday during a question-and-answer session at the UBS Global Healthcare Conference: “When customers come into the pharmacy, they come with a clear shopping mission,” he said. “They generally don’t buy from the front end.” Read more
Top Rated CEOs in Retail (Colleen Wegman #3, Craig Jelinek #13, Alex Gourlay #30…) at Owler. Full rankings
…Home Depot’s Menear Named One of Atlanta’s “Most Likable CEOs” by Phil W. Hudson at Atlanta Business Chronicle. Top 12 list
IKEA Has a New CEO via Fortune. “…picked company veteran Jesper Brodin to be its new chief executive, replacing Peter Agnefjall who will leave the company.” Read more
Rev. Jesse Jackson asks first question at Amazon shareholders meeting by Todd Bishop at GeekWire. “(Bezos) gave the floor to…Jay Carney, the former White House press secretary, who is now Amazon’s senior vice president of corporate affairs. “Since you visited us two years ago, we’ve taken significant steps toward enhancing diversity at Amazon through various programs” Carney told Jackson…” Read more
Kroger Announces Retirement of Paul Bowen, President of Jay C and Ruler – Successor Named at a Later Date Press release
Target reaches an $18.5 million settlement over a massive data breach in late 2013 via Fortune. Read more
Google’s New Feature Can Match Ad Clicks With In-Store Purchases by Mark Bergen at Bloomberg. “Google announced Tuesday that it has measured more than 5 billion store visits globally, and noted that people who click on search ads are 25 percent more likely to buy something inside a physical outlet….Google will start tracking YouTube, letting marketers measure whether their video ads lead to retail visits.” Read more
Advance Auto Parts Q1 Comp Sales -2.7% Press release
Albertsons Taps Tech Talent from Macy’s/Walmart/Sam’s Club Press release
Tipsheet Extra Stories
A sneak peek inside New York City’s first Amazon bookstore
Ikea’s smart light bulbs will work with Alexa, Siri and Google
Kroger bagger’s kindness rewarded with key to the city
Lululemon reportedly in the running to fill Sephora’s Fifth Avenue vacancy
Warby Parker’s Prescription Check app lets you skip the eye doctor
Walmart Has ‘No Tolerance’ for Racial Slurs Used by Customer in Video
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