Target Announces Updates to Executive Leadership Team “Christina Hennington named executive vice president and chief growth officer…Jill Sando will oversee buying for hardlines and softlines as executive vice president and chief merchandising officer…Rick Gomez named executive vice president and chief food and beverage officer…Cara Sylvester promoted to executive vice president and chief marketing and digital officer…Katie Boylan promoted to executive vice president and chief communications officer.” Press release

 

Retail sales jumped 5.3% in January, well ahead of the 1.2% expectation at CNBC. “Electronics and appliances saw the biggest increase, up 14.7% for the month, while furniture and home furnishing stores were up 12% and online spending at nonstore retailers jumped 11%.” Read more

 

Amazon documents reveal company’s secret strategy to dodge India’s regulators at Reuters. “Other company documents reveal equally touchy information: Two more sellers on the e-commerce giant’s India platform – merchants in which Amazon had indirect equity stakes – accounted for around 35% of the platform’s sales revenue in early 2019. That meant some 35 of Amazon’s more than 400,000 sellers in India at the time accounted for around two-thirds of its online sales.” Read more

 

Shopify Q4 revenue +94.0% at Financial Post. Read more | Press release

 

Tractor Supply Company Announces Agreement to Acquire Orscheln Farm and Home, a Farm and Ranch Retailer with 167 Stores in the Midwest “…an all-cash transaction for approximately $297 million, net of acquired estimated future tax benefits of $23 million.” Press release

 

Ace Hardware Q4 U.S. comp sales +28.7% Press release

 

Retail scene thrives in Palm Beach, FL as Americans head South at CNBC. “On Worth Avenue, a Rolls Royce lines up behind an Aston Martin behind a Porsche, as couples dip in and out of Tiffany, Chanel and Saks Fifth Avenue on a cloudless and balmy Saturday afternoon. The upscale shopping street, what some might call the Fifth Avenue of the South, has hardly any vacancies.” Read more

 

Permits connect Amazon to former New Seasons site in Seattle in latest physical retail expansion at GeekWire. Read more

 

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Analysts estimate 8.7% net income gain for Walmart’s fourth quarter at Talk Business. Read more

 

China is set to become the first country in history that will see a majority of its retail sales conducted online at Fast Company. “China is set to see 52.1% of all its retail sales conducted online at the end of 2021…South Korea is in second place (at) 28.9%…America is even farther behind. Its e-commerce retail sales will only account for 15% of all retail sales in 2021.” Read more/List

 

New York AG sues Amazon, accuses company of ‘flagrant disregard’ for health and safety of workers at GeekWire. Read more

 

House gears up for first GameStop stock hearing on Thursday at The Hill. “Executives from Robinhood, hedge fund Citadel, Melvin Capital and Reddit will seek to defend the heavily scrutinized ways they dealt with a surge in purchases of shares of GameStop and other struggling companies organized by an online community of traders.” Read more

 

Robbin Mitchell, a member of the Fashion & Luxury leadership team at the Boston Consulting Group, has joined Kohl’s Board of Directors Press release

 

Albertsons Companies Announces Winners of First Own Brands Associate Choice Awards Press release

 

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