Tipsheet: Tritton @ Bed Bath | Costco +4.2% | Kroger’s ‘Mistake’
Target’s Mark Tritton will become Bed Bath & Beyond’s new president and CEO effective Nov. 4. at CNBC. “Shares of Bed Bath & Beyond spiked more than 21% in extended trading on Wednesday.” Read more
…Target said it will not search for a new chief merchant at this time. Instead, two current executives — Christina Hennington and Jill Sando — will assume interim leadership of the merchandising organization. by Kavita Kumar at Star Tribune. Tiered subs.
Target Names Michael Fiddelke Executive Vice President and Chief Financial Officer “In more than 15 years at Target, Fiddelke has served in a variety of roles across finance, merchandising, human resources, and operations. Most recently he served as Senior Vice President of Operations.” Press release
Costco September comp sales +4.2% “Comparable sales excluding the impacts from changes in gasoline prices and foreign exchange were +5.6%” Press release
Walgreens partners with FedEx to accept online returns, print labels by Sarah Perez at TechCrunch. “…consumers will be able to drop off their online returns at thousands of Walgreens locations nationwide. They’ll also be able to print their return shipping label in the store, if need be.” Read more
US consumer prices unchanged in September at AP. “The Labor Department says the flat reading in its Consumer Price Index for September followed a tiny 0.1% August increase and left prices over the past 12 months rising at a modest annual rate of 1.7%.” Read more
Kroger made ‘a multiyear mistake’ in how it delivers its groceries, Jefferies says at CNBC. “Kroger was downgraded by Jefferies to hold from buy due to what they believe was a key mistake: investing in centralized fulfillment centers instead of micro-fulfillment. Instead, it should be following Walmart’s lead, according to a Thursday note.” Read more
Inside Target’s new Disney Stores at Field Agent. “Of 11 agents who visited Target-Disney shop-in-shops, all said they were at least a little more likely to buy Disney products now that they are available in this new store format.” Pics/Read more
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Amazon’s top spokesperson Jay Carney slams the Trump administration at CNBC. “Virtually with no exception, everyone I dealt with in [previous] administrations, whether I personally agreed or disagreed with what they thought were the right policy decisions or the right way to approach things, I never doubted that they were patriots,” Carney said. “I don’t feel that way now.” Read more
Dollar General Boosts Digital Strategy by Sara Castellanos at Wall Street Journal. “Dollar General Corp. is working on making it possible for customers to buy its wares online and pick them up at a nearby store, a move that analysts say could help the retailer attract a younger demographic.” WSJ subs.
dunnhumby: QuikTrip, Wawa and Sheetz are the top U.S. C-stores “… surveyed nearly 7,000 U.S. households to determine which of the top 27 c-store retailers have the strongest combination of financial performance and consumer emotional connection. The retailers with the highest overall index scores are: 1) QuikTrip, 2) Wawa, 3) Sheetz, 4) Kwik Trip/Kwik Star, 5) RaceTrac, 6) Casey’s General Stores, and 7) Maverik.” Press release
Dick’s says Ex-Chief Technology Officer must give back $750K after jumping ship Law 360 subs.
Amazon Workers May Be Watching Your Cloud Cam Home Footage at Yahoo Finance via Bloomberg. “Dozens of Amazon workers based in India and Romania review select clips captured by Cloud Cam, according to five people who have worked on the program or have direct knowledge of it.” Read more
Why Foot Locker is backing Rockets of Awesome, a start-up disrupting the kids clothing market by Tom Connor at CNBC. “An expansion of Cricket’s Circle — Blumenthal shut down the online baby registry in 2016 so she could shift her focus to children sizes 2 to 14 — Rockets of Awesome now puts her in the ring to take on the global children’s apparel market, expected to reach $339 billion by 2024.” Read more
Tipsheet Extra
Environmentalists have a new target: Charmin toilet paper
Walmart directors accumulate sizable stock holdings
‘It’s a nightmare’: Zimbabwe struggles with hyperinflation
California bans widely-used pesticide linked to brain damage in children
Saudis likely clear in Jeff Bezos’ racy text and pic leak
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