CVS, Walmart resolve pharmacy contract impasse at Reuters. “Evercore ISI analyst Ross Muken said the speed at which the dispute was resolved likely points to the negotiating strength of pharmacy benefit managers in contract discussions.” Read more
Tiffany comp sales fell 2 percent during the holiday season at CNBC. Read more
Walmart Is Looking for a CEO for a ‘Stealth Company’ That Doesn’t Exist Yet by Matthew Boyle at Bloomberg. “Walmart has posted an opening for a “CEO, Stealth Company” who would lead the latest startup housed inside its technology incubator, Store No. 8. The executive will be responsible for “building a business from scratch,” the job listing says…” Tiered subs.
Walmart abandons plans for “Middle America” video streaming service and will focus instead on Vudu at CNBC. “…opted not to move forward with a new streaming product after talks with veteran media executive Mark Greenberg fell apart last year…Greenberg, meanwhile, has held talks with several other retailers, including Costco, about building out a service geared toward average Americans, but no agreement has been reached.” Read more
Blue Nile CEO (and Ex-Target E-com Exec) Jason Goldberger out by Taylor Soper at GeekWire. “…third exec to leave online jeweler since acquisition in 2017.” Read more
Coinstar brings bitcoin to the grocery store by James Thorne at GeekWire. “…bitcoin is available for purchase at select Coinstar kiosks in Safeway and Albertsons stores in California, Texas and Washington. …The companies did not say how many of the Coinstar’s 20,000 kiosks would allow bitcoin purchases.” Read more
Walmart has partnered with Point Pickup, Skipcart, AxleHire and Roadie to expand its grocery delivery program across four states at TechCrunch. “Other Walmart grocery delivery partners include Postmates, Deliv, DoorDash and others.” Read more
Investors are suing Wayfair, claiming the company’s executives misled them about the company’s value and actions by Sean Philip Cotter at Boston Herald. Read more
How Bloomingdale’s Is Reinventing The Beauty Shopping Experience by Pamela N. Danziger at Forbes. “I met with Francine Klein, vice chairman and GMM for shoes, handbags, fashion accessories, fashion and fine jewelry, cosmetics and outlets, and Stacie Borteck, vice president and DMM for cosmetics, to discuss the new face of beauty at the 59th Street flagship store. Klein and Borteck are hoping their dream will become a nightmare for competitors.” Pics/Read more
Signet Jewelers comp sales -1.3%…shares tank…hints at store closings at CNBC. Read more
Target Foundation signals change in aid to nonprofits by Marianne Combs at MPR News. “In a letter to the nonprofits, the foundation said it is creating a fund to help these organizations wean themselves off the grants over the next three years. It also said the foundation will pay for training to help these nonprofits build their skills around fundraising and other forms of revenue development.” Read more
At Home Appoints Joanne Crevoiserat, COO of Abercrombie & Fitch, to Board Press release
Jeff Bezos is launching a new conference dedicated to AI, optimism, and Amazon at The Verge. “The new event will be held in Las Vegas between June 4th and 7th later this year. The earlier, semi-secret conference known as MARS will continue as before, but the public conference, dubbed re:MARS will be an “extension” of the former.” Read more
Walmart can’t register the phrase “Investing in American Jobs” as a trademark Law 360 subs.
Drugmakers Raise Prices Amid Shortages, Recalls by Peter Loftus at Wall Street Journal. “Of the nearly 120 drugs listed by the Food and Drug Administration as currently or recently in shortage, about one-third had price increases after the shortages started, according to a Wall Street Journal review of pricing data…” WSJ subs.
Google is buying Fossil’s smartwatch tech for $40 million by Brian Heater at TechCrunch. Read more
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