Walmart Q3 US Comp Sales +1.2% “…driven by a traffic increase of 0.7%. Neighborhood Market comp sales increased approximately 5.2%. Net sales at Walmart International were $28.4 billion, a decrease of 4.8%.” Press release | Q3 Earnings Call Slides

 

…CNBC: Wal-Mart beats on earnings, raises lower end of guidance, but revenue falls short “Notably, Wal-Mart’s digital sales — which have been a source of ongoing softness — picked up during the period, growing 20.6 percent excluding currency swings. Recently acquired Jet.com was included in the quarter for six weeks.” Read more

 

…Fox Business: Wal-Mart’s comparable sales miss estimates “(Comp sales rose) 1.2 percent, excluding fuel price fluctuations…That is weaker than market expectations of a 1.3 percent rise, according to research firm Consensus Metrix.” Read more

 

Best Buy Q3 Comp Sales +1.8% “From a merchandising perspective, comparable sales growth in home theater, mobile phones, wearables and connected home was partially offset by declines in gaming.” Press release

 

…Fox Business: Best Buy’s same-store sales beat expectations “Analysts on average had expected a 1 percent rise (in comp sales), according to research firm Consensus Metrix.” Read more

 

NY Times: Across China, Walmart Faces Labor Unrest as Authorities Stand Aside by Javier C. Hernandez. Read more

 

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Neiman Marcus partners with Rent the Runway by Korri Kezar at Dallas Business Journal. “The Washington Post reported Wednesday that Neiman will add Rent the Runway store-within-a-store concepts to some of its locations, starting with a San Francisco store opening Friday.” Read more

 

With Apple now selling used iPhones, the new phone market may have peaked by Tom Mainelli at Recode. Read more

 

Walmart’s Deisha Barnett joins Metro Atlanta Chamber of Commerce by Diana Bradley at PR Week. “Barnett is joining the Chamber after nine years at Walmart, where she directed comms strategy for the biggest shopping events of the year, such as back-to-school and Black Friday. She also led communications for the retailer’s community giving and diversity initiatives.” Read more

 

CST shareholders greenlight $4.4B merger with Circle K parent by Katie Burke at San Antonio Business Journal. Read more | Press release

 

Smart & Final Q3 Comp Sales -1.3% Press release

 

Macy’s will start closing stores before the end of the year by Andy Brownfield at Cincinnati Business Courier. Read more

 

Fifth Avenue protests could mean trouble at Tiffany’s this holiday by Krystina Gustafson at CNBC.”That’s because its Fifth Avenue store accounts for roughly 20 percent of Tiffany’s U.S. sales, and represents some 10 percent of its total revenues, according to various estimates.” Read more

 

…Fifth Avenue holds its title as most expensive retail street by Brielle Jaekel at Luxury Daily. Read more

 

Southeastern Grocers Unveils 73 New Harveys Supermarkets Press release

 

American Apparel suitor doesn’t care if clothes are US-made by Lisa Fickenscher at NY Post. “At least one potential buyer of the company, which this week sought bankruptcy protection for a second time, wants to find out. “If it’s important to the brand, I’m not sure we are interested in buying it,” said the executive.” Read more

 

Lowe’s Q3 Earnings Call Transcript via Seeking Alpha Read here

 

Loblaw, Metro talks with suppliers pay off in better results as food price inflation stays flat by Hollie Shaw at Financial Post. “In the summer, Loblaw asked its largest suppliers to cut costs by 1.45 per cent by September in response to what it called “unjustified cost increases.” Read more

 

Deloitte Announces 2016 North America Technology Fast 500™ Rankings Press release

 

DEAD DEER IN THE SHOPPING CART – Men roll dead deer into Walmart store at CBS 6 – Virginia. “It wasn’t until she actually walked inside the store that her daughter asked, “Did you see that deer in the shopping cart?”…The daughter took a photo. The gutted deer, was in the shopping cart, dripping blood on the floor, she said.” Video / Pic

 

Target lifts holiday forecast after better-than-expected third quarter by Kavita Kumar at Star Tribune. “Obviously it’s been a very unusual November — that’s probably the ultimate understatement,” Cornell told reporters.” Read more | Earnings call transcript

 

Woman Goes on ‘Costco Odyssey’ – Visits Every State with a Costco – CEO Jokes He May Join Her by Jennifer Huffman at Mesabi Daily News.”I’m a woman of faith,” said Pope. While at first even she thought her idea was a bit ridiculous, “I believe God was telling me” to do this cross-country Costco road trip. “Over time, this trip started taking on a life of its own.” Read more

 

Former Kroger CEO David Dillon will head KU chancellor search committee by Sara Shepherd at LJ World. Read more

 

Former Archer Daniels Midland CEO Dwayne Andreas dead at 98 via The Denver Post. Read more

 

Tipsheet Extra Stories

Walmart Museum in Bentonville adds new exhibits (front door from Sam Walton’s first Ben Franklin store in Newport)

The 2017 Fortune Crystal Ball (“Ross Stores Will Go On A Retail Rampage”)

Ancient Ten Commandments tablet sold at auction for $850,000

Electric cars are now required to make noise at low speeds so they don’t sneak up and kill us

Amazon’s app gives its customers X-Ray vision – can tell you exactly what’s in a delivery box

Police: Pickpockets target elderly Publix shoppers

Fendi to bring “Happy Room” to VIP clients

Read Tipsheet Extra Stories

 

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