Tipsheet: Target Chief Out | Petco Cleared | Lowe’s Loses | Lamar @ B.Buy
Time: 2017 Most Influential People Full list
Casey Carl, Target’s innovation chief, is leaving by Kavita Kumar at Star Tribune. “Cornell announced Carl’s departure, scheduled for May 5, in an e-mail to headquarters employees Thursday. He is one of the most senior among the several digital- or innovation-focused executives who have exited the Minneapolis-based retailer in the past year. Cornell said the retailer will search for a replacement who will help elevate Target’s core business, vet new business ventures and create new avenues of growth.” Read more
Wal-Mart gearing up for Lidl – suppliers warned of deeper price wars by Kim Souza at Talk Business. “Lidl’s entry in the U.S. is the single biggest threat to the grocery market in many years,” Paglia told Wal-Mart suppliers in Bentonville at the Doing Business in Bentonville breakfast on Thursday (April 20). ”Lidl has been massively disruptive in every market they have entered. They have a track record of 28 and 1 over the past 40 years.” Read more
Woolies wins Masters dispute with Lowe’s at Sydney Morning Herald. “As a consequence of today’s award, Woolworths will be able to conclude the proposed transaction with Home Consortium without the consent of Lowe’s, once the final valuation and share transfer processes have taken place,” the statement said.” Read more
99 Cents Only Stores Q4 Comp Sales +6.4% Press release
Walmart CEO Doug McMillon saw his pay jump 13% last year by Julia Horowitz at CNN Money. “The top executive’s pay rose nearly 13% to $22.4 million during the company’s fiscal year that ended on Jan. 31, according to a company filing. That’s up from $19.8 million the year prior.” Read more
…Wal-Mart top five execs earn more than $60 million in recent fiscal year by Kim Souza at Talk Business. “Brett Biggs, chief financial officer for Wal-Mart Stores, earned total compensation of $6.405 million last year…Greg Foran, CEO of Walmart U.S., saw his total compensation rise to $11.553 million last year…Walmart International CEO David Cheesewright earned $12.552 million last year, up from $10.171 million the year before.” Read more
…Lore gets $243.9 payout for Jet.com via CNBC. Read more
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New Nike pricing strategy worries analysts by Matthew Kish at Portland Business Journal. “…retailers can advertise 25 percent off anything.” Nike declined to confirm details or comment on specifics, but said in a statement the change to its minimum advertised price, or MAP, simplifies its account for retailers.” Read more
Foot Locker reports strong April sales by Fred Imbert at CNBC. “Encouragingly, we are now having a strong Easter selling period, with April comparable sales likely up low double digits.” Read more | Press release
Ralph Lauren still paying $70,000 daily rent at abandoned Fifth Avenue store by Lisa Fickenscher at NY Post. “That gives you a good indication of how poorly they were doing at that location that they are paying rent there on an empty space rather than stay open until they find a new tenant,” said one real estate expert, who did not want to be identified.” Read more
Amazon celebrates World Book Day with ‘free library’ by Angel Gonzalez at Seattle Times. “The event was part of a celebration, in 12 countries, by the e-commerce giant. The event was inspired by Catalonia’s feast of Sant Jordi, in which people give their loved ones a book and a rose.” Read more
Petco Cleared of Negligence In Death of 10-Year-Old Boy Who Contracted Rat-Bite Fever by Joseph Hincks at Fortune. Read more
Amazon’s growth on full display in greenhouse where exotic plants are raised for its Spheres by Kurt Schlosser at GeekWire. “On Thursday, Ron Gagliardo, the senior manager of horticultural services for The Spheres, and three members of his team, showed off the collection of trees, plants and flowers that they have amassed over the past three years from around the world.” Read more
Dick’s New Strategy Starts With Trail Runners and Triathletes by Eben Novy-Williams & Matt Townsend at Bloomberg. “Athletes don’t really dabble in these activities,” said SFIA Chief Executive Officer Tom Cove. “It is exactly these kind of ‘all in’ athletes that are most likely to spend increasing amounts of money to support that athletic pursuit.” Read more
Barneys New York Sets An Art-Filled Scene by Nick Remsen at Wall Street Journal. “The party, co-hosted by Barneys New York CEO Daniella Vitale, marked the debut of Afghani-British designer Osman Yousefzada’s 9-year-old label, called Osman, at the department store.” Read more (subs.)
Walmart India fined for ‘unstamped meat’ at Times of India. “Continuing its raids on eateries, the Greater Hyderabad Municipal Corporation on Thursday imposed a fine of 10,000 on a Walmart outlet for selling ‘unstamped meat’ in the city and warned it to dispose of the meat. A Walmart India spokesman later said they were “fully cooperating with the authorities and have shared all the required documents”. Read more
Kendrick Lamar Meets Thousands of Fans at Compton Best Buy at ABC 7. Video/Read more
Analyst: Kroger-Whole Foods combo could compete with Walmart by Steve Watkins at Cincinnati Business Courier. “Kroger has reached a crossroads in its strategy, as a decade-plus track record of share gains looks to be ending” he wrote.” Read more
CONFIRMED – Bebe Stores will Shutter all 175 Stores at Fox Business. Read more
Walmart delivers 3.5% discount vs. Amazon in core SKUs at The Street. “We analyzed the price impact across 400 plus of Walmart’s stock-keeping units (SKUs) tied into the move and found an average 3.5% discount, with bulkier/heavier-item categories exhibiting a tendency to have higher discounts,” Keybank analyst Ed Yruma wrote in a new on Thursday.” Read more
Home Depot CEO to attend Atlanta “green space” event on Friday by Scott Trubey at AJC. Read more
Tipsheet Extra Stories
Subway Shuts Hundreds of U.S. Stores
Baxter CEO joins Walgreens Boots Alliance board
Ex-Vikings coach has final garage sale, includes bobblehead in his likeness
Toy Company Sells Bears with ‘Limb Loss’
Juicero Offers All Customers a Refund
Amazon Books Plans New San Jose Location
The Blender Salesman You Ignore at Costco
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