Tipsheet: Wgreens Surprise Drop | REI Co-Founder Dies | Target Redcard Perk | Apple Pay Slog


Walgreens Q2 Comps: Pharmacy sales +4.2%, Retail sales -0.8% Press release


Walgreens still expects to finish Rite Aid acquisition by Nathan Bomey at USA Today. “Walgreens Boots Alliance maintained its previously stated expectation that it would receive the U.S. government’s authorization to complete the Rite Aid deal by the end of July.” Read more


Amazon stealing Google’s ad thunder by Claire Atkinson at NY Post. “Amazon’s ad business will generate $3.5 billion this year, and will grow 63 percent, to $5.7 billion, next year, Salmon predicted. By comparison, the entire TV industry books around $70 billion per year.” Read more


Target Redcard holders will get to preshop Victoria Beckham line by Kavita Kumar at Star Tribune. “This is just a pebble in the pond,” said Mark Tritton, Target’s chief merchandising officer, said of the prelaunch events. “We’ll see what the ripples are and what we can learn. Any way we can bring joy to our guests and reward them, we want to continue to investigate.” Read more


Apple Pay Promised to Make Plastic Obsolete. Then Came Wary Shoppers, Confused Clerks by Tripp Mickle at Wall Street Journal. “Loup Ventures’ Mr. Munster, a longtime Apple analyst previously with brokerage Piper Jaffray Co., estimates Apple Pay last year handled $36 billion in transactions, far less than the $207 billion he had predicted by 2016 after Apple started the service.” Read more (subs.)


Walmart’s New Jobs Approach Could Be Undermined by Gender Bias by Stacy Jones & Grace Donnelly at Fortune. “Fortune found that the language in 51% of job descriptions is more likely to appeal to men than women. That imbalance tips even more as openings travel up the corporate ladder, where 53% of manager positions and 84% of the director-level job descriptions skew male.” Read more


Hudson’s Bay Co posts deep $152 million net loss as it continues to make ‘tough decisions’ by Hollie Shaw at Financial Post. “..same-store sales were tepid at the company’s department store division, which includes Hudson’s Bay and Lord & Taylor, growing just 0.6 per cent, and were even more disappointing at luxury retailer Saks Fifth Avenue, rising 0.1 per cent.” Read more | Press release


Payless Shoesource files for bankruptcy, closing 400 stores by Steph Kukuljan at St.Louis Business Journal. Read more


Target investing in supply-chain sustainability for forest products by Dan DeBaun at Minneapolis/St.Paul Business Journal. “Target will work with vendors directly to ensure timber isn’t illegally harvested, taken from threatened areas or using wood from forests where genetically modified trees are planted.” Read more


**A message from the Las Vegas Souvenir & Resort Gift Showget ready for the nation’s largest souvenir show! We bring together 1,300+ booths filled with the latest introductions from every major souvenir and resort supplier, plus countless new resources. New for 2017, the show welcomes a Native American Pavilion, even more made in America products, new Boardwalk section and a special spotlight on Gourmet gifts. Look for new events and educational offerings, too . September 13-16, 2017. Register Now | Exhibitor List


Ralph Lauren to close flagship Fifth Avenue store by Lisa Fickenscher at NY Post. “The super popular Polo Bar, however, will remain open…These moves are expected to save the tony brand about $140 million.” Read more


“SOMETHING HAD TO GIVE” – Stores Take Flight From Fifth Avenue in Manhattan by Rachel Abrams at NY Times. Read more


Mary Anderson, who co-founded REI, dies at 107 by Janet I. Tu at Seattle Times. “For years, the Andersons operated the co-op out of their West Seattle home. She stitched tents, while he sprayed them with waterproofing. A room off their kitchen served as their office. “Mary and Lloyd — they never started this buying cooperative to create a store” Vogl said.” Read more


Staples is reportedly exploring a sale by Megan Woolhouse & Adam Vaccaro at Boston Globe. “Staples is in preliminary talks with a number of private-equity firms for a potential sale, The Wall Street Journal reported Tuesday, citing people familiar with the matter.” Read more | WSJ article (subs.)


Amazon Lands Streaming Rights to NFL’s ‘Thursday Night Football’ for $50 million at The Hollywood Reporter. Read more


Trunk Club adding 80 new positions to Chicago team by Gina Hall at Chicago Business Journal. Read more


Lowe’s still seeking more from Woolworths over Masters by Sue Mitchell at Australia Financial Review. “Woolworths is believed to have offered to pay Lowe’s about $180 million from net proceeds of $500 million, but Lowe’s believed its stake was worth closer to $600 million.” Read more


Amazon will soon refund up to $70 million of in-app purchases made by children by Natt Garun at The Verge. Read more


Aldi, Lidl’s U.K. market share reaches record high at MarketWatch. “Aldi’s market share rose to 6.8% in the 12 weeks ended March 26 from 6.0% last year, while Lidl’s share rose to 4.9% from 4.4%, Kantar Worldpanel said.” Read more


EBay founder pledges $100 million to fight ‘fake news’ by Karen Gilchrist at CNBC. Read more


Caribou Coffee and Peet’s Coffee & Tea Owner Buys Panera for $7.5 Billion at CNBC. Read more


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