Tipsheet: Sam’s #1 Pharmacy | Kohl’s Hearts Amazon | HD Supply +5.4% | Fred’s -0.3%
HD Supply Q2 net sales +5.4% “Preliminary Net sales in August were approximately $435 million, which represents year-over-year average daily sales growth of approximately 6.7 percent.” Press release
Fred’s Q2 comp sales -0.3% “Net sales for the second quarter were $507.8 million, down 4.1% from $529.5 million in the same period last year.” Press release
At Home Group Q2 comp sales +7.8% “Net sales increased 23.2% to $232.1 million from $188.4 million in the quarter ended July 30, 2016 driven by the net addition of 21 stores since the second quarter of fiscal 2017.” Press release
Casey’s Q2 grocery/merchandise comp sales +3.1% “Fiscal 2018 Guidance – Based on the ongoing softening of traffic experienced in the first quarter, the Company is revising its prepared food and fountain same-store sales guidance to 4.0% to 6.0% from 5.0% to 7.0%.” Press release
Duluth Trading Company Q2 net sales +31% “The net sales increase was driven by a 7.1% growth in direct net sales and a 138.3% growth in retail net sales…The increase in retail net sales was primarily attributable to an increase of 12 stores in the second quarter of 2017 as compared to the same period a year ago.” Press release
HBC Q2 retail sales increased 1.2% to $3.3 billion “Comparable sales at Saks Fifth Avenue grew the most in more than two years, up 1.7% on a constant currency basis.” Press release
…Neiman Marcus’ first Manhattan store and other shops in Hudson Yards delayed to 2019 by Maria Halkias at Dallas Morning News. “Related Companies, the developer of Hudson Yards, a huge 18-million-square-foot mostly office and residential project that is transforming the West Side of Manhattan, has pushed back the opening date of the Shops & Restaurants at Hudson Yards from late 2018 to early 2019.” Read more
J.D. Power: Sam’s Club is top mass pharmacy (Costco #3, CVS/inside Target #5) List/Press release
Automation Kills Jobs in Retail—and Replaces Them With Better Ones by Greg Ip at Wall Street Journal. “Ms. Duperre earns $2 more per hour at Amazon than at Sam’s, in part because she’s a lot more productive. At Sam’s, she served perhaps one to 20 customers a day. At Amazon, she packs 75 to 120 boxes an hour that are then whisked via high-speed automated conveyor belts to fleets of trucks that fan out across the region. The work is more physically demanding, but Ms. Duperre, 54, sees a bright side. “I lost 25 pounds working here,” she says. “This is a free gym membership.” Read more (subs.)
BJ’s unveils websites showcasing its two exclusive brands – Berkley Jensen and Wellsley Farms Press release
Kohl’s Announces New Amazon Smart Home Experience at Kohl’s Stores “Kohl’s announced a new Amazon smart home experience will be available in 10 select Kohl’s stores across the Los Angeles and Chicago areas starting in October. The new Amazon smart home spaces are a first-of-its-kind experience where customers can purchase Amazon devices, accessories and smart home devices and services directly from Amazon, within select Kohl’s stores.” Press release
Wal-Mart hopes to win this holiday season with exclusive toys, layaway by Lauren Thomas at CNBC. “In total, Wal-Mart said it will offer more than 1,000 new toys, including more than 300 exclusives. Last year, retail rival Target unveiled 1,800 exclusive toys — up 15 percent from 2015, and the most it had ever had.” Read more
Former Wayfair CFO joins Cambridge bike-sharing company by Kelly J. O’Brien at Boston Business Journal. “Zagster Inc., a Cambridge bike-sharing company, has named Nicholas Maloneas its chief financial officer.” Read more
Kroger Announces Retirement of Jayne Homco, Promotes Scott Hays to Michigan Division President Press release
Amazon’s Treasure Truck will be dispensing deals in five more cities by Kurt Schlosser at GeekWire. “The tech giant announced Tuesday with a surprise tweet that five more cities will now be home to the quirky deals-on-wheels trucks, including San Diego, Minneapolis, Boston, Orlando and Miami.” Read more
Amazon launches African-American movie subscription service via Markets Insider. “The Brown Sugar website tagline describes itself as “a black explosion of hot chicks, cool cats and cult classics”. Its portfolio of movies include “Blacula”, “Black Caesar”, “Cotton Comes to Harlem” and “Foxy Brown”, among others.” Read more
Tipsheet Extra Stories
Pamela Anderson ambushes Canada Goose employees with surprise plea
Crash tests suggest potential safety issues for small trucks
Fashion giants ban size zero models
American Express Hunts Millennials With No-Fee Delta Credit Card
Pumpkin season is officially here, but excitement may be slowing
More retailers are asking their bankers to call Amazon’s Jeff Bezos
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