Tipsheet: Wgreen +2.2% | SCOTUS Rejects $187M Wmart Appeal | Menear +13.7% | Nordstrom Vets Startup
Walgreens Q2 same store sales rose 2.2 percent via Reuters. Read more | See the press release
Supreme Court rejects Wal-Mart appeal in employee wage case by Lydia Wheeler at The Hill. “The Supreme Court declined to take up an appeal from Wal-Mart on Monday challenging a $187.6 million judgment in a class action lawsuit. In the case, Wal-Mart Stores Inc. v Michelle Braun, hourly employees of Wal-Mart and Sam’s Club had brought a class action lawsuit against the companies, claiming they failed to compensate them for rest breaks and off-the-clock work as mandated in their policies.” Read more
Target’s savings app Cartwheel now lets you clip real coupons by Sarah Perez at Techcrunch. “…it’s now testing this new service, which is made possible through a partnership with a third-party provider of digital coupons, Quotient (formerly Coupons.com)…At launch, there around 40-some digital coupons of this nature available in the app, but that number will change and vary, we’re told.” Read more
For Wal-Mart, food stamp cutback adds new challenge by Krystina Gustafson at CNBC. “…in some states, those consumers who no longer qualify for SNAP lost their benefits April 1…The center estimates the change will impact between 500,000 and 1 million people, as different states and counties roll out their take on the new requirements…(could) weigh some 0.4 to 0.6 percent on Wal-Mart’s comparable sales.” Read more
NORDSTROM VETS – This startup wants to convince online shops that more returns can equal bigger business by Jason Del Rey at Recode. “David Sobie and Mark Geller have raised $1.9 million in seed funding for their startup, Happy Returns, which is pitching e-commerce sites on allowing customers to return purchases to Happy Returns kiosks in brick-and-mortar stores or malls. The goal is to let online shoppers get free, instant refunds by returning orders to a physical store — an option that the founders believe will lead to increased sales.” Read more
Amazon expands payment platform with partner program for merchants by James Risley at GeekWire. Read more
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Sam’s Club CEO to Install New Spelman College President Read the release
Tesco sales decline slows at Reuters. “The sales decline at Tesco has slowed for the fourth month in a row, industry data showed on Tuesday, adding to evidence that Britain’s biggest supermarket group is gradually recovering.” Read more
Reno: Q+A: CEO of drone startup reflects on making first urban delivery by Daniel Rothberg at Vegas Inc. “You can either try to build your own delivery service or partner with someone who has it. And there are a lot of companies out there … who are not going to want Amazon to control (their deliveries).” Read more
Hudson’s Bay Co reports three-fold rise in profit following Kaufhof takeover at The Canadian Press via Financial Post. “The diversity of our banners in terms of geography and consumer segment helped us navigate a challenging retail environment and resulted in 2015 comparable store sales growth of 2.5 per cent on a constant currency basis,” Richard Baker, HBC’s governor and executive chairman, said in a statement accompanying the results.” Read more
How much did Home Depot bump up CEO Craig Menear’s total comp in 2015? at Atlanta Business Chronicle. “Home Depot boosted Chairman, CEO and President Craig Menear’s total compensation by 13.7 percent in 2015. According to a proxy statement filed Monday, the Atlanta-based home improvement retailer gave Menear about $11.6 million in total comp last year.” Read more
Sears Canada Names Becky Penrice as Chief Operating Officer Read the release
Wal-Mart Apologizes for Selling Univ. of Maryland Shirts With Massachusetts Design by Victoria Jones at NBC 4 Washington. “Wal-Mart said Monday it’s embarrassed to “stick our head out of our shell” after the mega-store sold University of Maryland Terrapins T-shirts that showed the state of Massachusetts instead of the state of Maryland.” Read more
Time: The Case Against Low-Fat Milk Is Stronger Than Ever by Alice Park. “Dr. Dariush Mozaffarian and his colleagues analyzed the blood of 3,333 adults enrolled in the Nurses’ Health Study of Health Professionals Follow-up Study taken over about 15 years. They found that people who had higher levels of three different byproducts of full-fat dairy had, on average, a 46% lower risk of getting diabetes…” Read more
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