Tipsheet: Starbucks $100M Fund | Used-Fashion to Skyrocket | Kingfisher CEO Out
Customers outraged at Walmart for ending Savings Catcher price-matching program by Doreen Christensen at South Florida Sun-Sentinel. “…(Walmart) will end the Savings Catcher program on May 14….One Twitter user disputed Walmart’s claim, saying he saved more than $900 since joining the program, and using the hashtag #BoycottWalmart.” Read more
Eby-Brown to be bought by Performance Food Group at Crain’s Chicago Business. “Terms of the deal were not disclosed. Eby-Brown co-presidents Dick and Tom Wake and current management will continue to run the company, according to a representative.” Tiered subs.
Ford Explorer Owners Say Their SUVs Are Making Them Sick by Ryan Beene, Margaret Cronin Fisk & Allison McCartney at Bloomberg. “The claims aren’t easy to investigate. For one thing, hospitals and doctors seldom test patients for exposure to carbon monoxide—Henriksen’s test was rare. Also, the U.S. has no regulatory standard for how much of the odorless, colorless, toxic gas would create a health risk for drivers…” Tiered subs.
CVS fights rise in E-Cig use with $1 Million donation Press release
Starbucks Creates $100 Million Venture Fund Seeking Growth Ideas at CNBC. “Starbucks announced a $100 million investment in a new venture fund with Valor Equity Partners, which has previously invested in Tesla and SpaceX. The fund will give the coffee giant the first look at food and retail start-ups.” Read more
Alimentation Couche-Tard Q3 comp merchandise revenues: +4.9% in Canada /+4.5% in U.S. / +2.9% in Europe at Montreal Gazette. Read more
Kroger sells Turkey Hill business to private equity Press release
By 2028 the used-fashion market is set to skyrocket in value to $64 billion in the U.S., while fast-fashion will only reach $44 billion at CNBC. “By 2028, around 13 percent of the clothes in women’s closets are likely to be second hand (up from 6 percent in 2018)…items from chains such as Gap and J. Crew are likely to make up 14 percent of closets (down from 20 percent in 2018) while department store buys will also be squeezed from 14 percent in 2018 to 9 percent in 2028.” Read more
Canadian drivers can save about $25 on a gas tank fill-up by driving across the border to Blaine, Wash. at Vancouver Sun. Read more
**A message from 2019 Sweets & Snacks Expo – 800+ exhibitors, 2,000+ new product launches, 45 new product awards. The can’t miss show of the year is nearly here! Join us at Chicago’s McCormick Place May 21-23 to discover the latest innovations in products, merchandising and retail solutions. Exhibitors | Register Now | Website
Bag maker Hermes sees no changes to sales trend as profits rise at Reuters. “The French label, known for its squared silk scarves and Birkin handbags that sell for more than $10,000, posted a 15 percent rise in net profit for 2018.” Read more
All of Target Corp’s flagship coffee brand Archer Farms will be certified fair trade by 2022 at Reuters. Read more
Amazon Pay inks Worldpay integration by Ingrid Lunden at TechCrunch. Read more
Neiman Marcus wins against Marble Ridge as judge dismisses suit via SF Gate. “In the lawsuit filed in December, Marble Ridge alleged that the shuffle of MyTheresa constituted a “fraudulent transfer of assets totaling approximately $1 billion of value for no consideration.” Tiered subs.
Kingfisher to replace chief executive after ditching profit target at Financial Times. Read more
Target tests self-service grab-and-go ‘Snack Bar’ in stores by Alex Van Abbema at Minneapolis/St.Paul Business Journal. Subs.
EU hits Google with $1.7B fine for blocking rival ads at Fox Business. Read more
Tipsheet Extra Stories
The lawyers who took on Big Tobacco are aiming at Realtors and their 6% fee
Bullibone dog toy finds success on Walmart shelves
4G SIM cards fly off the shelves in Cuba
74% of consumers go to Amazon when they’re ready to buy something
Disney Closes $71.3 Billion Fox Deal
Woodstock 50 Announces Full Lineup
**
Eye on Retail Tipsheet is must-read material for retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.
Subscribe to Eye on Retail Tipsheet here
Contact us: Send story tips, press releases and advertising inquiries to info@eyeonretail.net
Website: eyeonretail.net