Tipsheet: WM HQ Cuts | ‘Historic’ Egg Prices | Amazon’s Singapore Stumble


Wal-Mart Cuts a Few Dozen Jobs at Headquarters by Kim Souza at Talk Business. “News of this round of layoffs hit social media feeds Wednesday evening when employees began getting notices to report to a “support event” called by Human Resources on Thursday. Travel was canceled and all the vendor conference rooms have been booked by HR which points to another layoff, according to people familiar with the matter.” Read more


Amazon’s Entry Into Singapore Marred by Delivery Problem by Sterling Wong & Krystal Chia at Bloomberg. “The service appeared to go down hours after its official launch on Thursday, according to media reports. “Due to great customer response, delivery windows are currently sold out” Amazon spokeswoman Amanda Ip said, adding that the company is trying to resume normal delivery service.” Read more


Retailers cheer the death of the border adjustment tax at CNBC. “With BAT off the table, retailers [are] ready to advocate for tax reform,” the Retail Industry Leaders Association said in a statement.” Read more


Nordstrom family offers preferential terms to clinch buyout partner by Lauren Hirsch & Greg Roumeliotis at Reuters. “One possibility being explored is offering potential partners preferred equity in the deal, so that they reap more dividends out of the company’s cash flow or they get paid first if there is a stock sale in the future, the sources said. The Nordstrom family members are also contemplating using $7 billion to $8 billion in debt to finance their bid, some of the sources added.” Read more


Wal-Mart looks overseas for online vendors by Nandita Bose at Reuters. “According to two sources with knowledge of the matter, Wal-Mart Stores Inc in February began inviting sellers from China, the United Kingdom and Canada to list on the marketplace section of, where it earns a share of revenue from goods sold and delivered to customers by third-party vendors. Previously, it only allowed U.S. based sellers on the marketplace site, sources said.” Read more


Grocery stores are adapting to more male shoppers — whom they treat like knuckleheads by Abha Bhattarai at Washington Post. “Men’s Health…found that 84 percent of men are now the primary grocery shoppers in their households…It is worth noting that Men’s Health surveyed only men…NPD Group, for example, estimates that men are the primary grocery shoppers in 41 percent of U.S. households, while market research firm VideoMining puts that figure at about 49 percent of shoppers.” Read more


Floor & Decor Q2 Comp Sales +14.7% Press release


Off-price retailers are losing their steam by Lisa Fickenscher at NY Post. “Over the past several months, Neiman Marcus has closed three of its Last Call off-price stores…“The Last Call news is the first suggestion that the luxury off-price sector is maturing,” despite a rash of new store openings, said Steve Dennis, a retail consultant and former Neiman Marcus executive.” Read more Q2 Sales up 25% to $38.0 Billion “Operating income decreased 51% to $628 million in the second quarter, compared with operating income of $1.3 billion in second quarter 2016.” Press release


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Cheap Eggs Flood U.S. Grocery Stores by Jesse Newman & Jacob Bunge at Wall Street Journal. “Large shell eggs, the type sold at the grocery store, last week cost 98 cents a dozen at wholesale in the Midwest, a 62% drop over the past two years, according to market-research firm Urner Barry…“This is historic,” said Brian Moscogiuri, an analyst who tracks the egg market for Urner Barry.” Read more (subs.)


Mastercard Selected for Kroger Co-Brand Credit Card Issued by U.S. Bank Press release


Wal-Mart de mexico reports 118 pct increase in Q2 net profit at Barron’s. “Same-store sales rose 7.2% in Mexico. The company sold its Suburbia clothing stores to department store and shopping mall operator El Puerto De Liverpool  for a net gain of 7 billion pesos ($394 million).” Read more


Starbucks Is Closing All 379 of Its Teavana Stores by Phil Wahba at Fortune. “Teavana is not the first Starbucks acquisition to go bust: two years ago, Starbucks closed all 23 La Boulange bakery cafes.” Read more


Target To Follow Amazon, Walmart In How They Pay Vendors by Jennifer Mayerle at WCCO CBS Minnesota. “New payment terms for vendors means some businesses that provide products will now be paid 30 days later, at least twice as long as before. And Target will now take a 2-percent discount across the board. The changes go into effect on Sunday, July 30.” Read more


Williams-Sonoma Announces Opening of First Franchise Stores in South Korea Press release


Gas Pump Skimmer Sends Card Data Via Text at Krebs on Security. “Skimmers that transmit stolen card data wirelessly via GSM text messages and other mobile-based communications methods are not new…But this is the first instance KrebsOnSecurity is aware of in which such SMS skimmers have been found inside gas pumps.” Read more


Camping World Agrees to Acquire, one of the Largest Outdoor Gear Retailers in the World Press release


Amazon launches ‘The Hub’, parcel delivery lockers for apartment buildings by Ingrid Lunden at TechCrunch. “The fact that Amazon is looking to provide the Hub not just for its own parcels but those of anyone also puts Amazon squarely into closer competition with erstwhile partners like FedEx, UPS and DHL.” Read more


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