Tipsheet: Target +4.5% | Lowe’s +3% | Macy’s Breach | Jelinek #9 Biz Person
Target Q3 comp sales +4.5% “Third quarter comparable digital channel sales grew 31 percent, on top of 49 percent last year. Same-day fulfillment services (Order Pick Up, Drive Up and Shipt) accounted for 80% of Target’s digital comparable sales growth.” Press release
…Target shares surge after company crushes earnings and raises forecast at CNBC. “Earnings per share: $1.36, adjusted, vs. $1.19 expected. Revenue: $18.67 billion vs. $18.49 billion expected. Same-store sales: growth of 4.5% vs. up 3.6% expected.” Read more
Lowe’s Q3 comp sales +3.0% “…(will) close 34 underperforming stores in Canada (and) undertake a process to simplify multiple Canadian store banners to drive efficiency and reduce operational complexity…” Press release
…Lowe’s raises earnings outlook, shares jump at Fox Business. “Improved execution and strong earnings-per-share growth enabled the company to raise its full-year earnings forecast to $5.63 to $5.70 a share.” Read more
Macy’s said hackers stole customer credit cards – again by Zack Whittaker at TechCrunch. “Macy’s said the breach lasted a week, between October 7 and October 15. The retail giant did not say how many customers were affected, but the breach is likely to affect thousands of customers.” Read more
Walmart CEO Doug McMillon: ‘We could go away at any minute’ at CNBC. “Walmart is not arrogant,” CEO Doug McMillon said at CNBC’s Evolve Summit in Los Angeles on Tuesday morning. “We could go away at any minute. I think most of us act that way every day. If you’re not willing to fail — and we are failing at some things — you’re going to go away.” Read more/27:58 video
Costco’s Craig Jelinek #9 on Fortune’s Businessperson of the Year list Top 20 list
Alibaba raises up to $12.9 billion in landmark Hong Kong listing at Reuters. “The price means Alibaba will raise at least HK$88 billion ($11.3 billion) – a symbolic total because the number 8 is associated with prosperity and good fortune in Chinese culture.” Read more
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TJX Q3 comp sales +4.0% Press release
Amazon Is Planning to Open Cashierless Supermarkets Next Year by Matt Day at Bloomberg. “The new store formats and licensing initiative could launch as soon as the first quarter of 2020, according to a person familiar with the project. Amazon is testing a supermarket equipped with Go technology in a 10,400-square-foot retail space in Seattle’s Capitol Hill neighborhood.” Tiered subs.
Home Depot Q3 earnings call transcript at Seeking Alpha. Transcript
Lowe’s workers have complaints about new scheduling policies by Aine Cain at Business Insider. “One of the primary issues 10 of these workers spoke about had to do with changes to the scheduling policies for full-time employees. The old four-week rotation for full-time employees was replaced with a new system billed as “customer-centric scheduling,” which workers say has brought about less predictability and negatively affected their work-life balance.” Read more
Casey’s names Tractor Supply exec Chief Human Resources Officer Press release
Usain Bolt’s Next Impossible Goal: Finishing a Sam’s Club Run in 3 Minutes by Kathryn Lundstrom at Adweek. “Sam’s Club wants its customers to know they can get all their shopping done in a jiffy…In the bulk retailer’s latest spot produced by MONO, Usain Bolt flies down the aisles to check off all 20 items…” Tiered subs.
Amazon tells senator it’s considered face-scanning doorbells at ABC News. Read more
Customers claim Ulta’s Beautyfest was full of empty promises by Lisa Fickenscher at NY Post. “The retailer told eager consumers last week that its 1,200 stores would open one hour earlier than usual — at 9 a.m. — on Saturday and Sunday…But customers quickly flooded social media with complaints that some stores failed to open their doors on time and that they waited in freezing temperatures for chintzy freebies.” Read more
Tipsheet Extra
Hollywood’s Top 25 Marketing Masterminds of 2019
Here’s Jeff Bezos’ portrait that just made it into the Smithsonian
Capital One partners with OpenTable on exclusive access to premium reservations
FDA to start testing romaine lettuce on heels of Ecoli outbreaks
Warby Parker is launching Scout, its own line of contact lenses
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