Walmart sues its former top tax executive to block her from joining Amazon by Nat Levy at GeekWire. “Walmart seeks to block (Lisa) Wadlin from going to Amazon until at least 2020. Wadlin had informed Walmart that she was thinking about leaving in January, but the revelation that she planned to move to Seattle to become a vice president of tax policy at Amazon didn’t come until later.” Read more

 

Stitch Fix soars after online styling service says active clients grew 30% at CNBC. “

Here’s how the company did compared to what Wall Street expected:

Earnings: 9 cents vs. 3 cents forecast by Thomson Reuters
Revenue: $316.7 million vs. $306 million forecast by Thomson Reuters
Active clients: 2.7 million vs. 2.66 million forecast by StreetAccount

Read more

 

At Home Q1 Comp Sales +0.9% Press release

 

Soda ad blitzes conspicuously match food stamp schedules, study says by Caitlin Dewey at Washington Post via Chicago Tribune. “They found that stores were 1.88 times as likely to have soda displays on the first through ninth of the month, when food stamps are distributed in New York. That figure falls to zero in neighborhoods with few SNAP recipients, and rises to 4.35 in neighborhoods with large numbers of SNAP shoppers.” Read more (Tiered subs.)

 

PriceSmart May Comp Sales +3.1% Press release

 

‘Major expansion’ for UPS ocean freight service by Eric Mandel at Atlanta Business Journal. “United Parcel Service announced Thursday that its adding 130 lanes to its LCL service, with the origin and destination countries covering most of the globe. That includes ports in Asia, Latin America, Africa, Europe, U.S. the Carribean and the Middle East.” Read more

 

Dollarama Q1 Comp Sales +2.6% at Toronto Star. “Analyst Irene Nattel of RBC Capital Markets said the results are best viewed as a blip on Dollarama’s consistent trajectory of 15 to 20 per cent earnings per share increases.” Read more

 

Winners in Traditional Retailing Are Also Winning Online by Elizabeth Winkler at WSJ. “Macy’s has seen the strongest online growth in 2018, climbing 28% in monthly order volume since January. Meanwhile, Sears’s online order volume fell 25% from January to May.” Chart/Read more (Subs.)

 

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Suppliers’ presence in Northwest Arkansas created real estate boom by Nancy Peevy at Talk Business. “Another segment that’s filling in office space in NWA is what Smith calls “vendors to the vendors.”…(the) merchandising, marketing, packaging and data analytic companies…“There are over 400 of those companies in town right now, and it’s probably the biggest growth part of Bentonville,” Smith said.” Read more

 

See inside Tencent’s new gigantic headquarters in China at CNBC. Video/Read more

 

Recounting ‘Horror Stories’ Over Guitar Center’s Warranties by Danny Hakim at NY Times. “Guitar Center said in a statement for this article that it had been “made aware of an issue with some third-party protection plans that were sold in Puerto Rico over the past 30 months.” Read more (Tiered subs.)

 

Target makes a big leap in the delivery wars at CNBC. “The company is now more than halfway through its rollout of same-day delivery with Shipt and the launch of a curbside pickup service known as “Drive Up.”…Chicago will be the first city in the U.S. to have all four of its new delivery and pickup options…starting this week.” Read more

 

Walmart executive shift leaves open position at Talk Business. “Judith McKenna, recently named CEO of Walmart International, has tapped JP Suarez as the executive vice president and chief administration officer for Walmart International. This week Suarez left his position as head of the retailer’s realty division to join McKenna’s team.” Read more

 

Blue bins overflow with Amazon and Walmart boxes. But we’re actually recycling less by Elizabeth Weise at USA Today. “Last year, 300,000 fewer tons of corrugated containers were recycled in the USA than in the  year before, even as domestic consumption increased 3.5%, according to the AF&PA.” Read more

 

Exxon to Show Its Green Side in Meeting with Pope Francis by Bradley Olson at WSJ. “Chief Executive Darren Woods has called for Exxon to become “part of the solution” on climate change, a point he is expected to make Saturday as he and other oil and gas executives meet with Pope Francis at the Vatican to discuss the issue.” Read more (Subs.)

 

Post near deal to sell private-label division by Josh Kosman at NY Post. “The name of the suitor could not be learned — but it has been rumored that Cerberus Capital Management has been involved, at least on the periphery, in talks surrounding a sale.” Read more

 

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Canada clears major hurdle in legalizing recreational marijuana

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