Tipsheet: Target +4.8% | Lowe’s +4.2% | WM Pitches Ad Buyers


Target Q1 comp sales +4.8% “…traffic growth of 4.3 percent…comp digital channel sales grew 42%, on top of 28% last year. Comp digital sales contributed 2.1 percentage points to Target’s overall comparable sales growth. Same-day fulfillment services (Order Pick Up, Drive Up and Shipt) drove well over half of the Company’s digital sales growth.” Press release


…AP: Target’s online game is on target “The retailer exceeded first quarter expectations on just about every level…” Read more


Lowe’s Q1 U.S. comp sales +4.2% Press release


…CNBC: Lowe’s reports mixed fiscal first-quarter earnings “Earnings per share: $1.22 adjusted, vs. $1.33 estimated. Revenue: $17.74 billion, vs. $17.66 billion estimated. Comp sales: up 3.5%, vs. up 3.2% estimated.” Read more


…“This is the first quarter in a while that Lowe’s clearly out comped Home Depot,” Oppenheimer’s Brian Nagel told CNBC’s Squawk Box.


Nordstrom Q1 net sales: Full-Price business -5.1% / Off-Price business -0.6% / Digital +7.0% Press release


Urban Outfitters Q1 comp sales +1.0%: +2% at Free People / +1% at the Anthropologie Group / flat at Urban Outfitters Press release


Walmart to make first direct pitch to big corporate ad buyers at New York event by Nandita Bose at Reuters. “Walmart Inc will meet large consumer goods companies and advertising firms for the first time in New York next week to pitch its advertising business…It is likely to be attended by hundreds of companies ranging from Procter & Gamble, Unilever and Coca Cola to Mattel, Glaxosmithkline and NBC Universal…” Read more


Stein Mart Q1 comp sales -1.7% Press release


…Stein Mart will install Amazon Hub lockers in nearly 200 stores as soon as next month by Sarah Perez at TechCrunch. “Stein Mart shares jumped 45% after the Amazon deal was announced.” Read more


**The 2019 Sweets & Snacks Expo is Happening Now! More than 800 exhibitors, including 200+ first time exhibitors. Press release


Jeff Bezos shows enthusiasm for auto industry at all-hands meeting by James Thorne at GeekWire. “If you think about the auto industry right now, there’s so many things going on with Uber-ization, electrification, the connected car — so it’s a fascinating industry,” Bezos said according to a recording of the meeting CNBC has heard. “It’s going to be something very interesting to watch and participate in, and I’m very excited about that whole industry.” Read more


Ex-Macy’s Chief Merchandising Officer Named Express CEO “(Timothy) Baxter was most recently Chief Executive Officer of Delta Galil Premium Brands…Prior to that, he spent 26 years with Macy’s, Inc. and the former May Department Stores in various roles…” Press release


Kohl’s cutting prices and increasing promotions to preserve market share by Rick Rommel at Milwaukee Journal Sentinel via USA Today. “We know our customers are driven by value, and so we’re going to make the necessary changes to pricing and promotion to help drive that,” Bruce Besanko, Kohl’s chief financial officer, told analysts on a conference call. “We’re not going to lose out, as a consequence of pricing, to competitors.” Read more


Brazil’s Natura and Avon confirm deal talks at Reuters. “In the discussions, that have been ongoing for some months, Natura would buy Avon’s now private North American business, in addition to the London-headquartered publicly traded Avon, the source added.” Read more


Dillard’s CEO at last weekends annual company meeting: “Our job is to be open next year. We’re going to be one of the leaders and still get to play tomorrow.” Read more


Home Depot Is Betting That America’s Miserable Movers Will Make Good Customers by Robert Klara at Adweek. “Home Depot has set up a mover’s landing page,and select stores have scheduled live workshops to teach attendees how to change those locks (and patch those walls, and apply til, and put down new flooring, etc.). The retailer has also dispatched some of its popular influencers to the workshops to bring the smarts to a broader audience.” Tiered subs.


…Home Depot is doubling down on tool rentals in a bid to win over pro builders by Aine Cain at Business Insider. “…several years ago, only about one out of 10 pros rented from us,” Home Depot CEO Craig Minear told investors…”Today, that number has improved to one out of four, yet there remains opportunity for further growth as we continue to invest in our tool rental experience.” Read more


…Home Depot Q1 2019 Earnings Call Transcript via Seeking Alpha. Transcript


PVH Corp. Names Stefan Larsson to Newly Created Role of President “Mr. Larsson was most recently Chief Executive Officer of Ralph Lauren Corp.” Press release


Costco Will Reportedly Stop Selling Roundup by Eric Todisco at People. “…according to Zen Honeycutt, the founder of Moms Across America who created a petition for the big box store to stop selling Roundup…“I called the headquarters, and after two days of messages and calls, I did finally confirm with three people that Costco was not ordering Roundup or any glyphosate-based herbicides for the incoming spring shipments,” she wrote.” Read more


Tipsheet Extra Stories

Pricey engagement rings a no-go for younger Americans

What It’s Like to Work an Entry-Level Job at Madewell Corporate

How work became the millennial religion of choice

Layaway loans are back, with a new look

Credit cards have more germs than a urinal

Kroger and Loop will pilot new reusable packaging system

Read Tipsheet Extra Stories



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