Tipsheet: Tritton Q&A | Wmart Grows Online Ads | Aldi/Instcart Partner | Guam H.Depot Normal
Wal-Mart is quietly growing its online advertising business, analyst says by Eugene Kim at CNBC. “According to KeyBanc’s Ed Yruma, Wal-Mart’s website has started to show banner ads by third-party sellers more frequently…On top of that, Wal-Mart has recently started linking its in-store and online shopping data, giving more in-depth data that advertisers could play with, he said.” Read more
Target refreshes brands to stay chic and relevant, phasing out Merona and Mossimo at Star Tribune. “Over the next 18 months, Target will launch more than a dozen new brands, four of which begin hitting stores in coming weeks. They will be accompanied by a “More in Store” marketing campaign that will feature TV and print ads, a big direct mail piece and an increased digital investment that includes tapping into social media.” Read more
…Target’s Chief Merchandising Officer Mark Tritton Q&A by Tonya Garcia at Wall Street Journal. “WSJ: What is challenging for the company when it comes to introducing change while also meeting customers’ expectations? MR. TRITTON: We don’t want to rip off the bedspread and confuse the guests. It’s more about pace and cadence and being relevant at all times in the existing brands and the new brands.” Read more (subs.)
Aldi enters grocery delivery in partnership with Instacart by Nandita Bose at Reuters. “Aldi will launch a pilot starting the end of this month in Los Angeles, Atlanta and Dallas with the potential of expanding to more cities in the future.” Read more
Walmart: Back-to-school-themed gun display was a prank by Sean Rossman at USA Today. “Crowson didn’t specify what aspect of the incident was a prank, including whether someone doctored the photo or tampered with the display. He said the company had “several people” working on the investigation, which concluded Friday evening. “I really don’t think any retailer is immune from things like this popping up through social media,” he said. “When we’re faced with it, we do take the claim seriously.” Read more
Office Depot buys Boca Raton HQ for $132M by Brian Bandell at South Florida Business Journal. “It last traded for $171 million in 2011, so Office Depot bought it at a discount. It was constructed on the 28.9-acre campus in 2008. The purchase comes as a surprise as the company has been cutting expenses by closing dozens of stores across the nation.” Read more
2017 National Most Trustworthy Brands (Retail: Amazon #1, Costco #2, Target #3) at The Values Institute. Full list
ODORS AND FLIES – eBay’s founder has a new idea: build a dairy in Hawaii (but group works to block project) by Stephanie Strom at NY Times. Read article
Regional Grocery Stores Feel the Squeeze by Heather Haddon & Lillian Rizzo at Wall Street Journal. “There were 25,380 stores offering a full-range of groceries with at least $2 million in annual sales last year, down 6% from 2015, Inmar Willard Bishop found. The number of stores is expected to drop to roughly 19,000 by 2021, the firm says.” Read more (subs.)
LOOK AWAY – Amazon Is Issuing Refunds for Knockoff (and Safe) Solar Eclipse Glasses by Kevin Lui at Fortune. “Amazon has not disclosed how many glasses it has recalled. According to KGW, some vendors have reported their glasses being recalled despite being verified as safe.” Read more
JC Penney is about to step up its apparel game, but it could be too late by Lauren Thomas at CNBC. “It is very late in the game, and it is the most difficult part of the retail market,” GlobalData Retail managing director Neil Saunders told CNBC in an interview. “They are going to have to work incredibly hard to make it work and to be different.” Read more
Guam Home Depot is business as usual at USA Today. “Typically you’d expect to see water, generators, batteries, tarps and plastic go out,” he said, “but we’re pretty well stocked and I haven’t seen any spikes in those categories as of yet.” Read more
Five food innovators win H-E-B’s get-on-shelf competition & $90,000 in cash by Kelci Johnston at Click 2 Houston. “Grand Prize Winner ($25,000 and featured placement as a Texas Best Primo Pick): Skull & Cakebones — Mocha Marmalade.” List of winners
Finance Chiefs Are Staying on the Job Longer by Joann S. Lublin at Wall Street Journal. “At Home Depot Inc., 60-year-old Carol Tomé has worked for three chief executives since her 2001 promotion to CFO. She lost its CEO succession race to colleague Craig Menear in 2014. He asked her to stay. “I did a lot of soul searching,’’ Ms. Tomé said. She considered retiring, running for office or switching employers. She decided she would leave only if she landed a CEO spot elsewhere.” Read more (subs.)
Celebrity hair stylist launches salon with Saks Fifth Avenue by Jennifer Gould Kell at NY Post. “Joel Warren, co-founder of celebrity hair salon chain Warren-Tricomi, is launching a new salon concept with Saks Fifth Avenue. The partnership comes after Saks split with former salon partner John Barrett, Hillary Clinton’s personal hairdresser, and filed an $11 million lawsuit against Barrett that has since been settled.” Read more
Man reportedly causes $129K in damage at Wal-Mart liquor store at NBC 7 WJHG. “According to his arrest report, when Jones allegedly aimed the forklift toward Crestview Police officers, he was stopped at gunpoint and detained. The report said he “stated his name was Alice Wonderland and he was told to commit the offenses by a hookah-smoking caterpillar.” Read more
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