Tipsheet: WSJ Kirkland Signature Close-Up | Academy CEO Speaks | Nordstrom Local 10/3 | Dollar Shave Downer
Wal-Mart pledges up to $30 million in hurricane relief efforts by Lauren Thomas at CNBC. “During the run of this campaign, customers can donate to the American Red Cross within Wal-Mart and Sam’s Clubs stores, or online. For every $1 given, Wal-Mart will contribute $2, or product of equal value, the company said. Donations will be accepted through Sept. 16.” Read more
Nordstrom Tries On a New Look: Stores Without Merchandise by Suzanne Kapner at Wall Street Journal. “Nordstrom Local, scheduled to open Oct. 3 in West Hollywood, Calif., will span 3,000 square feet, far less than the 140,000 square feet of one of Nordstrom’s standard department stores. It will contain eight dressing rooms, where shoppers can try on clothes and accessories, though the store won’t stock them. Instead, personal stylists will retrieve goods from nine Nordstrom locations in Los Angeles, or through its website.” Read more (subs.)
How Kirkland Signature Became One of Costco’s Biggest Success Stories by Sarah Nassauer at Wall Street Journal. “When considering a new store-brand offering, Costco looks for products that are top sellers and can be sold for at least 20% less than branded versions without eroding profit or quality…Before developing a Kirkland product, Costco usually gives a brand-name supplier the chance to make the Kirkland version, too, say company executives.” Read more (subs.)
Academy Sports CEO: Retail is hard but rewarding, good fit for the intellectually curious by Kim Souza at Talk Business. “Speaking at his alma mater…, J.K. Symancyk told University of Arkansas students he never set out for a career in retail. James Kevin Symancyk grew up in Little Rock, majored in theater at the UA and planned to go to law school after graduating in 1994.” Read more
Dollar Shave Club succeeded with razors, but the rest of the bathroom is a challenge by Paresh Dave at LA Times via Star Tribune. “Newer products haven’t taken off. Mostly priced at $5 to $10, the products include moist wipes, cream, hair gel, body wash and shave butter….Dollar Shave Club is on track to launch oral care products this year, Dubin said. But he noted the company is behind on plans for antiperspirant and deodorant, saying, “You have to get things right from efficacy to safety.” Read more (tiered subs.)
Best Buy Drops This Popular Antivirus Software Because of Russia Hacking Fears at Fortune. “…pulling Kaspersky Lab’s cyber security products from its shelves and website, amid concerns that the Moscow-based firm may be vulnerable to Russian government influence.” Read more
**A message from the Las Vegas Souvenir & Resort Gift Show – Wednesday is Showtime! Browse 1,300+ booths filled with the latest introductions from every major souvenir and resort supplier. New for 2017, the show welcomes even more made in America products, a new Boardwalk section and a special spotlight on Gourmet gifts. September 13-16, 2017. Register Now | Exhibitor List
New York Times story says Denver best choice for Amazon’s second headquarters via Denver Post. “After finally considering Boston and Washington D.C., the Times people arrived at Denver as the obvious choice.” Read more
Fortune: 100 Fastest Growing Companies (Amazon #9) Full list
Kraft Heinz new CFO is 29 year old by Paul J. Gough at Pittsburgh Business Times. “Basilio will be replaced as CFO and executive vice president by David Knopf, 29, who is vice president in charge of its Planters business.” Read more
Jeff Bezos invests in Russell Wilson’s new startup by Taylor Soper at GeekWire. “TraceMe is an app that aims to connect “superfans” with celebrities, offering daily exclusive behind-the-scenes content from your favorite athlete, artist, actor, or other influential person.” Read more
Blue Apron’s second-largest investor sells its stake in the meal-kit delivery service at Internet Retailer. “(Capital World Investors) reported a 12.9% stake as of June 30, which had made it Blue Apron’s second largest investor, according to data compiled by Bloomberg.” Read more
Target to slash prices on thousands of items, sending shares tumbling at CNBC. “Target said it hasn’t ditched promotions entirely, but instead will focus on only the most “compelling” sales. The big-box retailer has now eliminated more than two-thirds of its price and offer “call-outs” in stores, so big savings will be easier for shoppers to spot.” Read more
Retail mashups bring experiences such as getting a tattoo and shopping together by Charisse Jones at USA Today. “A lot of times, we look at it with the opposite intention,” Joy Lewis, Patagonia’s director of retail, said of the chain’s events, which include panel discussions. The stores think about “how can we take our familiar customers and expose them to new things, like environmental actions in their backyard?” Read more
Bud Light’s NFL Beer Glasses Light Up After Touchdowns by E.J. Schultz’s at Ad Age. “The gimmick is reminiscent of the “Budweiser Red Lights” program the brewer has run in Canada in which consumers can buy WiFi-connected red lights for their home that illuminate every time a fan’s favorite hockey team scores.” Read more
Tipsheet Extra Stories
California bans weed delivery by drone
Union parks ‘Trump & Walmart Make America Worse’ bus at Penn State
Ex-employees allege Macy’s profiles Asian customers: suit
Penn State students get visit from Amazon’s Brian Olsavsky
Dollarama testing self-checkout as it adjusts to minimum wage increases
NFL apologizes for Mexico earthquake tweet
Apple’s Top New Phone to Be Called ‘iPhone X,’ Code Leaks Show
How Diamonds Fund Zimbabwe’s Secret Police
***
Eye on Retail Tipsheet is must-read material for 20,000+ retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.
Subscribe to Eye on Retail Tipsheet here
Contact us: Send story tips, press releases and advertising inquiries to info@eyeonretail.net
Website: www.eyeonretail.net