Tipsheet: Wgreens Beats | Lowe’s Gets Craftsman | Target Adds AR | CVS CEO Iview
Walgreens profit falls 22% in 4th quarter at Fox Business. “…hurt mainly by a more than $300 million fee it paid Rite Aid Corp after their failed attempt to merge.” Read more
…Walgreens Q4 Retail Pharmacy USA comp sales +3.1% Press release
Lowe’s to Sell Craftsman Tools at CNBC. “Tuesday’s announcement validates the fact that Stanley Black & Decker is now strategically seeking other outlets for growth. According to Craftsman’s website, the brand is currently sold at Ace Hardware, Orchard Supply Hardware, Blain’s Farm and Fleet, and Atwoods Ranch and Home, in addition to Sears and Kmart.” Read more
Amazon to sell smart locks so it can slip packages into your home by Jeffrey Dastin at Reuters. “Members of Amazon’s Prime shopping club can pay $249.99 and up for a cloud-controlled camera and lock that the company offers to install. Delivery associates are told to ring a doorbell or knock when they arrive at someone’s house…” Read more | Press release
Target adds AR shopping to its mobile website by Sarah Perez at TechCrunch. “The option is currently only available with 200 “Project 62” brand home products from Target, but the retailer says it will roll out to hundreds more products by year-end, then thousands more in 2018.” Read more
CVS Health CEO Larry Merlo talks to Fortune “What’s next for CVS? Merlo says, “You’ll continue to see what we refer to as the front of our store evolve. It will certainly have a focus on health.” Video/Read more
Clocks made by visually impaired Chicago workers hit Target shelves by Ally Marotti at Chicago Tribune. Read more (tiered subs.)
Peapod picks downtown Chicago HQ by Danny Ecker at Crain’s Chicago. “Peapod has about 300 corporate workers in the Chicago area between its headquarters at 9933 Woods Drive in Skokie and 20 N. Wacker Drive.” Read more
Lumber Liquidators Near Settlement in Class-Action Suit by Imani Moise at Wall Street Journal. “Under the terms of the proposed agreement the company will pay out $22 million in case and offer $14 million in store credit to customers who bought the relevant flooring.” Read more (subs.)
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ELECTRONICS FRIDAY – Black Friday vs. Cyber Monday by Chris Medenwalk at Field Agent. “Consumer electronics may be the real beneficiaries of these two all-important days…Of those completely or very likely to shop on Black Friday (n = 1,031), 35% said they’ll devote more attention to electronics like TVs and smartphones than any other category. Indeed, electronics eclipsed the second place category, toys (19%), by a full 16 percentage points.” Read more
Food Lion launches grocery pickup service via Instacart by Katherine Peralta at Charlotte Observer. “It is available (for now) only at the Dilworth store…” Read more
FAKE NEWS? – Apple’s Angela Ahrendts calls reports that she could be the next CEO “fake news,” and “silly” at Buzzfeed via Jefferson Graham at USA Today. Read more
Walmart’s Marc Lore Q&A with Wall Street Journal Q&A (subs.)
LAST NEW MALL EVER? – Big Mall Operator Does the Unthinkable—Builds a Mall by Suzanne Kapner at Wall Street Journal. “We’re not building any more,” said GGP Chief Executive Sandeep Mathrani. “This could be it for a long period of time.”…Norwalk is part of Connecticut’s Gold Coast…One-third of the households within a 15-mile radius of the project have a net worth of $500,000 or more.” Read more (subs.)
Amazon video push aims to keep shoppers from YouTube search by Spencer Soper at Bloomberg via Boston Globe. “Amazon this year began inviting some of its 2 million merchant partners to join a test program in which the online retailer coordinates these short product videos. The plan is to post many of them to the site by mid-December, when the holiday shopping season is in full swing, according to documents reviewed by Bloomberg.” Read more
Hun Quach, retail lobbyist, is part of ‘army’ visiting Capitol Hill to preserve Nafta by Ana Swanson & Natalie Kitroeff at NY Times. Read more (tiered subs.)
Home Depot releases 2017 Responsibility Report See report
Amazon debuts a new Appstore app with better discovery, focus on Amazon Coins by Sarah Perez at TechCrunch. Read more
Tipsheet Extra Stories
Halloween display depicting a fake car crash scene with blood-splattered bodies causes outrage (pics)
Exclusive First Look at Chip and Joanna Gaines’s New Target Line (pics)
A Reuters journalist bought human body parts, then learned a donor’s heart-wrenching story
Inside Apple’s Struggle to Get the iPhone X to Market on Time
HBR: Selling Products Is Good. Selling Projects Can Be Even Better
Inside Reebok’s new flagship store beneath new Boston HQ (21 pics)
‘Drinkable sunscreen’ maker with ‘radio waves’ settles consumer fraud case
Off-duty NYPD cop flips out over Godiva chocolate store closing
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