Tipsheet: Target’s Mysterious Start-Up | D.Gen +2.2% | Pressure On Lowe’s To Up Rona Bid | Costco’s 1st East Coast Bus.Ctr.
Target looking to hire 20 people for mysterious start-up called Goldfish by Kavita Kumar at Star Tribune. “Goldfish is the brainchild of West Stringfellow, who joined Target last year as one of three entrepreneurs in residence who were charged with bringing out-of-the-box ideas to help push Target’s innovation agenda…A Target spokeswoman on Wednesday confirmed that the retailer was hiring for the project.“At this point the project and what it is, is still confidential,” said Jenna Reck, the spokeswoman.” Read more
Dollar General Q4 Comp Sales +2.2% “Net sales increased 7.0 percent to $5.29 billion in the 2015 fourth quarter compared to $4.94 billion in the 2014 fourth quarter. Departments with the most significant increases in net sales were candy and snacks, perishables, tobacco, and food.” Read the release
Nordstrom chooses Texas stores for exclusive Italian brands by Maria Halkias at Dallas Morning News. “If you were Nordstrom and wanted to test emerging Italian brands, what state would you pick? Nordstrom picked Texas for its latest keep-them-coming pop-in shop program run by Olivia Kim, the Seattle-based retailer’s vice president of creative projects.” Read more
Pressure mounts on Lowe’s to up its offer for Rona’s preferred shareholders by Barry Critchley at Financial Post. “This week, and possibly as early as Thursday, more information is expected to be released about the extent of the opposition to the terms offered to the pref shareholders. “We have had lots of emails and calls from retail investors about the situation and we will be responding,” said an adviser with knowledge of what’s being planned.” Read more
Costco to Open First Business Center on East Coast by Joan Verdon at North Jersey. “The store, at 80 South River St., will still be open to all Costco members, but will be stocked to appeal more to business owners than to the general public…The Hackensack will be Costco’s first business center in New Jersey, and the 13th business center nationwide.” Read more
Former TJX executive named CEO at Bob’s Discount Furniture by Katheleen Conti at Boston Globe. “Former TJX Cos. executive Michael Skirvin will be taking the helm at Bob’s Discount Furniture as the retailer’s president and chief executive, the company announced Thursday.” Read more
Home Depot Appliance Boss Bob Baird Stepping Down by Alan Wolf via Twice. “The merchandising VP will formally step down May 1, when he passes his responsibilities to David Passafiume and enters semi-retirement.” Read more
Hispanic newspaper publisher joins Target board by Nick Halter at Minneapolis/St.Paul Business Journal. “Target has added former Hispanic newspaper publisher Monica Lozano to its board it directors…Lozano, 59, was CEO of Hispanic media company ImpreMedia and the publisher of La Opinion, the country’s largest Spanish language newspaper.” Read more
Rite Aid’s distribution center in Charlotte closing this spring, laying off 270 workers by Jenna Martin at Charlotte Business Journal. Read more
Ex-Costco Execs Take Organic Fast-Food Concept to San Francisco by Sarah Fritsche at SF Gate. “The company is also aiming to open several more outposts over the coming year in San Francisco, the East Bay and possibly Sacramento (exact locations TBA).” Read more
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As many as 139 Jos. A. Bank stores are closing by Rick Seltzer at Baltimore Business Journal. Read more
VALENTINE’S DAY – Man Loses Wedding Ring in Golf Glove at Dick’s Sporting Goods – Good Samaritan Returns by Nick Schwartz at Fox Sports. “Fortunately for Castro, the ring never moved until Jeff Geyer tried on the very same glove three weeks later. Geyer posted about his find on Facebook, and the power of social media did the rest. The two men are now planning on a golf outing together.” See the video / Read more
CMO Spotlight: Wanda Gierhart with Neiman Marcus by Drew Neisser at Ad Age. “Her department is currently experimenting with different tactics across platforms, but Gierhart notes that what works well on desktop also works well on mobile.” Read more
Home Depot’s Kevin Hofmann, President Online, Presents at Raymond James 37th Annual Investor Conference Read transcript via Seeking Alpha
Walmart’s Steve Bratspies, Chief Merchandising Officer US, Presents at Raymond James’ 37th Annual Institutional Investors Conference Read transcript via Seeking Alpha
Food Lion investing $215M in Charlotte market to improve shopping experience by Jennifer Thomas at Charlotte Business Journal. “Food Lion says it plans to remodel 142 stores, with projects slated to be complete between May and October.” Read more
Toys “R” Us Q4 Comp Sales +2.3% Read the release
Dick’s Sporting Goods’ Management to Present at the Bank of America Merrill Lynch Conference on March 15th Read the release
Tipsheet Extra Stories
Salmonella outbreak linked to pistachios from Trader Joe’s and other brands sickens 11 people in nine states
Heading to Austin? Here Are 10 Must-See Marketing and Media Sessions at SXSW
GE executives turn former Quirky building into innovation hub
Walmart U.S. undergoes management shifts
Barbie brand sales are at their lowest in at least 23 years
Camping equipment sales spike 13% in Q4