Tipsheet: Wmart to Punish Suppliers | Target Tries Curbside (Again) | Dick’s New CMO | Albertsons’ IPO Stalled
Wal-Mart Will Punish Its Suppliers for Delivering Late — or Early by Matthew Boyle at Bloomberg. “Two days late? That’ll earn you a fine. One day early? That’s a fine, too. Right on-time but goods aren’t packed properly? You guessed it — fined. The program, labeled “On-Time, In-Full,’’ aims to add $1 billion to revenue by improving product availability at stores, according to slides from a presentation obtained by Bloomberg.” Read more
Target is testing new curbside pickup service in Twin Cities by Kavita Kumar at Star Tribune. “In 2014, it partnered with…Curbside…Target ended that program in 2016…”But we saw and believe there’s a good opportunity in building our own end-to-end experience that is wholly dedicated to Target” (Target spokesman) said.” Read more
Dick’s Sporting Goods hires Dunkin’ Brands Exec as its CMO by Paul J. Gough at Pittsburgh Business Times. “Dick’s Sporting Goods hired Dunkin’ Brands executive Scott Hudler as its chief marketing officer. Hudler worked for 11 years for Dunkin’ Brands and was senior vice president and chief digital officer.” Read more
Albertsons’ IPO plans reportedly stalled following Amazon-Whole Foods deal by Alex Barinka & Craig Giammona at Bloomberg. “Slipping financials as well as the poor stock performance of its closest peer, Kroger Co., has left stakeholders convinced that the company won’t get close to the valuation of as much as $12.4 billion that it targeted in 2015.” Read more
Cabela’s shareholders OK $5 billion Bass Pro deal by Steph Kukuljan at St.Louis Business Journal. Read more
Deloitte: 60% of U.S. shoppers visiting stores prior to August for back-to-school items will spend an average of $532, which is 16% higher than the rest of parents who don’t start their shopping until August or later at CNBC. Read more
Lidl US has hired former Wal-Mart real estate executive Kevin Sweet as its new senior director of real estate by Jon Springer at Supermarket News. Read more
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Former employee sues Nordstrom’s Trunk Club, alleges he was forced to work without pay by Coral Garnick at Puget Sound Business Journal. “The complaint claims employees who were being paid commission regularly worked in excess of eight hours a day and were required to attend events and trainings in addition to their scheduled shifts for which they were never paid.” Read more
PRICE COMPARISON – Amazon Prime Day deals on 50 items were, on average, 40% lower than Best Buy and Target, and 15% cheaper than Walmart by Matt Linder at Internet Retailer. Read more
The 20 Most Attractive Employers For Engineering Students Around The World (Amazon #17) at Forbes. List/Read more
HEB boss Charles Butt gives $50 million to train Texas teachers by Will Anderson at Austin Business Journal. “Students at 10 schools — including UT, Rice University, Southern Methodist University and Texas Tech University — will be eligible for the scholarships of $8,000 per year.” Read more
Visa Takes War on Cash to Restaurants by AnnaMaria Andriotis at Wall Street Journal. “Visa says it is planning to give $10,000 apiece to up to 50 restaurants and food vendors to pay for their technology and marketing costs, as long as the businesses pledge to start what Visa executive Jack Forestell calls a “journey to cashless.” Read more (subs.)
How dead celebrities became a billion-dollar business by Lauren Coleman-Lochner at Bloomberg. “Dead celebrities have their advantages: There’s no risk of them showing up late to events or lighting up social media with an out-of-character faux pas. They don’t cycle in and out of fashion like current idols. And those who passed away in their prime will never age.” Read more
Tipsheet Extra Stories
Target sets opening date for first urban small-format store in Ohio
Anheuser-Busch scion detained for trying to fly chopper drunk
Quentin Tarantino Prepping New Movie Tackling Manson Murders
Home Depot employee returns to work after controversial firing
GoPro selects ten brands to be first to use the Fusion spherical camera
United Wants to Sell Your Seat to Someone Else for More Money
Germans Are Losing Their Taste for Pork
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