CVS shares drop on mixed results, disappointing forecast “For the full year of 2019, CVS forecasts adjusted earnings between $6.68 and $6.88 per share, below the $7.41 per share analysts polled by Refinitiv had expected.” Read more | Press release
Companies were boxed off to avoid spies at this year’s Toy Fair by Lisa Fickenscher at NY Post. “Veterans of the annual show, which attracts some 1,200 toy companies, say this year’s event appeared to have the most closed booths ever. “We were among the only closed booths about a decade ago,” said Lego spokesman Michael McNally. “But most of the larger brands have private booths now.” Read more
Sainsbury’s planned $9.5 billion takeover of Walmart’s Asda in jeopardy at Reuters. “Close to the worst possible outcome (for the companies),” said Bernstein analyst Bruno Monteyne.” Read more
Walmart takes online ad sales in house by Jack Neff at Ad Age. “Triad has told employees it will enforce non-compete clauses of their contracts, even to prevent them moving to Walmart Media Group, which is taking over the ad operations, according to people familiar with the matter. Walmart is expected to add hundreds of employees as part of the move, these people say.” Tiered subs.
Kroger and Ocado announce two additional sites for automated warehouses “Central Florida and Mid-Atlantic selected as locations for innovative robotics warehouse facilities.” Press release
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Amazon’s ‘collaborative’ robots offer peek into the future by Catherine Triomphe at AFP via Yahoo Finance. “Amazon now counts more than 25 robotic centers, which chief technologist for Amazon Robotics Tye Brady says have changed the way the company operates. “What used to take more than a day now takes less than an hour,” he said, explaining they are able to fit about 40 percent more goods inside the same footprint.” Read more
Amazon Ad Revenue to Top $11B This Year: eMarketer Study at Hollywood Reporter. “By 2023, digital will exceed two-thirds of total media spending,” according to eMarketer.” Read more
Dog Days Aren’t Over for Pet Store Rivals at Wall Street Journal. “Private-equity firms bought America’s two biggest pet-store owners within months of each other. One spent billions to boost its online business by acquiring the top internet pet retailer. The other focused on getting people back in stores. About three years later, neither strategy is a clear winner.” WSJ subs.
The World’s 50 Most Innovative Co’s 2019: Fast Company – Stitch Fix #5, Target #11 List
Charlotte Russe will close if it can’t find a buyer by Charisse Jones at USA Today. “A tentative timeline has potential bids being offered by March 3, then an auction would occur two days later.” Read more
PayPal CEO predicts digital payments industry will mature into a $100 trillion market at USA Today. Read more
P&G is testing a Tide-branded laundry service at Digiday. “…a service that lets customers pre-pay for laundry through an app, drop the laundry off inside lockers or drop boxes inside apartment buildings, offices and retail storefronts, and pick up the clean clothes once the app notifies them they’re ready.” Read more
Rite Aid and GNC Extend Partnership Through 2022 “Rite Aid and GNC have had an exclusive partnership in the chain drug channel since December 1998.” Press release
Rebag, which resells second-hand luxury purses, is a on a path to open 25 stores and hire 200 employees in the next three years. by April Berthene at Internet Retailer. Read more
Tipsheet Extra Stories
Retired Home Depot CEO named a Georgia Trustee
Boxed CEO asks interviewees these three questions to make sure they’re not jerks
Target plans to open small-format stores in two D.C. neighborhoods
Getting fitted for Alexa-enabled smart glasses in a mobile showroom in Seattle
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