Tipsheet: Wmart Likes Samples | Lowe’s Cuts 525 | TJX Beats | Amazon’s C-Store Liquor
TJX’s Same-Store Sales Beat Estimates at Fox Business. “Comparable store sales rose 3 percent in the fourth quarter ended Jan. 28. Analysts on average had expected comparable store sales to rise 2.6 percent.” Read more
Wal-Mart’s McMillon asks more of suppliers amid retail evolution by Kim Souza at The City Wire. “…there has been a 250% increase in grocery pickup and the retailer will continue to grow that service to 500 additional stores this year. The retail execs also talked about investing in the shopper experience. They also want to work with suppliers to maximize the number of in-store events with more product sampling, character visits in stores and product demos in general merchandise.” Read more
Lowe’s to cut another 525 employees by Ken Elkins at Charlotte Business Journal. “Lowe’s Cos. Inc. will cut another 430 corporate office employees in Mooresville and 70 support personnel in Wilkesboro…total number cut in the latest layoffs is 525, which includes 25 employees spread around corporate offices but not in Mooresville or Wilkesboro.” Read more
Amazon plans to sell beer and wine at its new high-tech convenience store by Jason Del Rey at Recode. “The e-commerce giant confirmed to Recode that it plans to sell beer and wine from the Seattle store. The confirmation came after I inquired about a flyer I spotted on the store’s window that mentioned its application for a liquor license. “When we start offering beer and wine, there will be an associate checking identification,” an Amazon spokesperson wrote in an email.” Read more
Etsy CEO on why N.Y.C. is the best place to grow a company by Anthony Noto at New York Business Journal. Read Q&A
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Lumber Liquidators Q4 Comp Sales +2.8% Press release
Do you want to join Aldi’s taste test club in Australia? at Daily Mail. Read more
Lowe’s Moves Closer To Home Depot in Radio Spots at Radio Ink. “With 25,279 commercials aired on radio stations all across the country last week, Lowe’s was the fourth-largest radio advertiser, according to Media Monitors…The Home Depot was second with 29,830 followed by McDonald’s in third with 26,835, and Walgreen’s rounds out the top five with 23,444.” Article
Macy’s sets CEO departure date by Andy Brownfield at Cincinnati Business Courier. “…president Jeff Gennette will take over for CEO Terry Lundgren on March 23.” Read more
Retailers Ask Supreme Court Not to Revive Disputed Credit Card Swipe Fee Settlement Press release
Nascar, Once a Cultural Icon, Hits the Skids by Tripp Mickle & Valerie Bauerlein at Wall Street Journal. “Despite knowing for two years that Sprint was leaving, Nascar didn’t announce a replacement until December, when it said energy-drink maker Monster Beverage Corp. had won naming rights to the top-tier racing circuit. Monster paid about $20 million, below Nascar’s asking price of $35 million and nowhere close to the original goal of $100 million, according to television and racing-industry executives familiar with the new contract.” Read more (subs.)
UPS testing drones to shave delivery times in rural areas by Jillian Stampher at GeekWire. Read more/Video
Tiffany gets help in search for new chief executive by Carleton English at NY Post. “The jewelry retailer on Tuesday said it reached a deal with Jana Partners and former Bulgari CEO Francesco Trapani to add three new members to its board — expanding the group to 13.” Read more
Walmart’s Marc Lore is coming to Code Commerce on March 20th by Jason Del Rey at Recode. Read more
McDonald’s to Cut Prices on Drinks as Fast-Food Industry Slumps by Leslie Patton at Bloomberg. “The McDonald’s promotion, which starts in April, will include soft drinks of any size for $1. For a limited time, customers can also buy McCafe beverages such as smoothies, frappes and espresso drinks for $2. At stores in Chicago on Tuesday, small McCafe frappes sold for between $2.69 and $3.09.” Read more
Tweetable: @charliebilello – Home Depot: $10,000 invested at its IPO in 1981 is worth over $68 million today. New all-time high.
Best Buy tops St. Jude Children’s Research Hospital holiday donor list with $18.2M by Shannon Prather at Star Tribune. “Best Buy has raised nearly $40 million since it began participating in St. Jude’s holiday campaign in 2013.” Read more
Apple’s new campus ‘Apple Park’ will open in April by Romaine Dillet at TechCrunch. Read more/Video
Tipsheet Extra Stories
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2 Chainz’s non-chain tapas restaurant fails inspection
New exit sign confuses Canadian shoppers
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Fortune: Unilever CEO Paul Polman’s Plan to Save the World
Read Tipsheet Extra Stories Here
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