Lowe’s Q4 comp sales +2.5% vs. +3.6% expected at CNBC. “…the company earned 94 cents per share, outpacing analyst estimates of 91 cents per share from Refinitiv. Revenue rose to $16.03 billion from $15.65 billion a year ago but was less than the $16.15 billion analysts had forecasted.” Read more
TJX Q4 comp sales +6% vs. +3.03% expected
- Marmaxx (U.S.) +6% / HomeGoods (U.S.) +5% / TJX Canada +4% / TJX Int’l +10%
Walmart begins fulfilling orders for third-party vendors at CNBC. “New and current vendors can sign up for the service starting Tuesday, according to Jare’ Buckley-Cox, vice president of Walmart Fulfillment Services. The company launched a pilot of the service a few months ago with a mix of brands across categories, including footwear, apparel and electronics.” Read more
J.C. Penney chief customer officer resigns after nine months by Maria Halkias at Dallas Morning News. “Shawn Gensch was chief customer officer at Sprouts Farmers Market before he came to Penney. Before that, he cofounded a loyalty program company and earlier spent 10 years at Target.” Read more
Walmart streamlines merchandising division with one omnichannel team by Kim Souza at Talk Business. “When complete, there will be six categories:
Apparel – led by Andy Barron (and sourcing for general merchandise and private brands.)
Consumables – led by Latriece Watkins
Entertainment, Toys and Seasonal – led by Jeff Evans
Food – led by Charles Redfield
Hardlines – led by Diana Marshall
Home – led by Anthony Soohoo”
Coronavirus in China Threatens Amazon Sellers by Jon Emont at Wall Street Journal. “Sellers say Amazon’s ranking algorithm demotes products that are out of stock. To avoid that painful fate, many are raising prices to slow sales, and attempting to shift production to other countries.” WSJ subs.
…Amazon Merchants Spooked by Coronavirus Fallout Curtail Ad Spending by Spencer Soper at Bloomberg. Tiered subs.
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Office Depot Q4 total sales -6.0% Press release
Trader Joe’s, Wegmans, and H-E-B in Three-Way Tie Atop Retail Sector in American Customer Satisfaction Index “Costco leads the (department & discount stores) category for the fourth consecutive year, steady at 83, and Walmart’s Sam’s Club is next in line, up 1% to 81. BJ’s Wholesale Club, Kohl’s, and Nordstrom are all unchanged at 79. Belk (unchanged), Dillard’s (down 1%), JCPenney (up 1%), Macy’s (up 1%), and Target (up 1%) all score 78…” Press release
The 2020 World’s Most Ethical Companies Honoree List (Best Buy, Kohl’s, H&M…) Read more
Old Navy taps the Martin Agency as creative agency partner at Ad Age. “The decision follows a creative review that kicked off in November. (Incumbent) Chandelier participated in the review, according to a person close to the business. A representative from the agency did not return a request for comment. It is unclear what other agencies participated.” Tiered subs.
Home Depot Q4 2019 Earnings Call Transcript
Natural grocery stores are at risk as organic goes mainstream by Alicia Wallace at CNN. “Sprouts is going back to basics with smaller stores featuring the company’s original farmers’-market-like approach. The 340-store grocer intends to enter new markets with a higher concentration of stores and place more attention on its supply chain to ensure that its products are fresh.” Read more
Dillard’s Q4 comp sales -3.0% Press release
Venture Firm’s New Fund Helps E-Commerce Retailers Go Offline by Keiko Morris at Wall Street Journal. “A real-estate-focused venture-capital firm said it has closed a $100 million fund to invest in companies born online that are looking to join the bricks-and-mortar world. Fifth Wall Ventures is the latest firm to target this new generation of retailers, which see expanding operations into physical stores as crucial to growing their businesses.” WSJ subs.
New ‘animatronic’ Baby Yoda already sold out until December by Lisa Fickenscher at NY Post. Read more
Apple won’t let bad guys use iPhones in movies, says director
Instacart’s shoppers probably qualify as employees, judge rules
SpartanNash targets reducing food waste with Flashfood
Jimmy John’s removes sprouts after FDA warning letter
Dillard’s refusing deliveries from fashion tycoon
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