Today’s Tipsheet: 1st Lowe’s Express Opens | Hertz Kiosks @ Wgreens & Lowes | HD Supply IPO Blues
“Nations First Lowe’s Express Opens (in NJ)” by Michael Diamond at Asbury Park Press. “Lowe’s Cos. Inc. Thursday will officially unveil a retail store half the size of its traditional store in a move experts said reflects consumers who increasingly believe that less may not be more, but it is enough. The Lowe’s Express, opening in a former Pathmark supermarket, will be 50,000 square feet…The express concept is the first nationwide for Mooresville, N.C.-based Lowe’s.” Read more & see the video: https://www.app.com/article/20130626/NJBIZ/306260116/Smaller-Lowe-s-Express-in-Wall-is-first-in-the-nation?nclick_check=1
“Wal-Mart, Home Depot end relationships with Paula Deen” by Vldya Rao at NBC News. “”We are ending our relationship with Paula Deen Enterprises and we will not place new orders beyond those already committed,” Wal-Mart spokesperson Danit Marquardt said on Wednesday. “We will work with suppliers to address existing inventories and agreements.” Wednesday evening, a spokesperson for Home Depot confirmed to NBC News that the company will stop carrying Paula Deen-branded items under their kitchen and cookware category as a result of the scandal.” Read more: https://www.nbcnews.com/business/wal-mart-home-depot-end-relationships-paula-deen-6C10452621
“Square’s New Online Stores Could Make Twitter Where You Shop” by Marcus Wohlsen at Wired. “Jack Dorsey may have hit the target with the launch today of Square Market, Square’s first big foray into online shopping…Square Market not only acknowledges the reality that small retailers can no longer afford to remain offline-only; it gives them a tool to obliterate the distinction. Now any shopkeeper using Square as a cash register can simply flip a switch in the app to create an instant online store.” Read more: https://www.wired.com/business/2013/06/squares-new-online-stores-could-make-twitter-the-next-place-you-shop/
“HD Supply IPO prices below range amid market volatility” by Olivia Oran at Reuters. “Industrial and construction supplies company HD Supply Holdings raised $957.2 million in an initial public offering on Wednesday, less than expected, after recent stock market volatility and rising interest rates led some investors to take a cautious approach.” Read more: https://www.reuters.com/article/2013/06/26/us-hdsupply-ipo-idUSBRE95P1JO20130626
“Do-It-Yourself Checkout: Love It or Hate It, Barcode Scanning Is In Your Future” by Martha White at Time. “Aside from do-it-yourselfers, shoplifters are also big fans of self-checkout because they’re not observed closely. According to USA Today, “Theft — intentional or not — is up to five times higher with self checkout than when cashiers are working.” Read more: https://business.time.com/2013/06/26/do-it-yourself-checkout-love-it-or-hate-it-barcode-scanning-is-in-your-future/#ixzz2XPfAxpox
“Has Harris Teeter found a buyer?” by Caitlin McCabe at Charlotte Observer. “The Wall Street Journal reported Wednesday that Cerberus, the New York City-based private equity firm, had made a bid for Harris Teeter…Cerberus is no stranger to grocery store chains. Three months ago, it acquired five supermarket chains from Minnesota-based Supervalu Inc.: Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market. Cerberus gained 877 locations in the $3.3 billion deal.” Read more: https://www.charlotteobserver.com/2013/06/26/4130136/wall-street-journal-cerberus-bids.html#storylink=cpy
“Hertz Rental Car Kiosks to Appear in Lowe’s and Walgreens” by Mark Clothier at Businessweek. “Hertz, which has 2,600 neighborhood locations now, sees having as many as 12,000 locations in the next few years, Chief Executive Officer Mark Frissora said in an interview yesterday. Hertz is working with retailers including Lowe’s Cos., Walgreen Co. and Tire Kingdom Inc. to help broaden that reach.” Read more: https://www.businessweek.com/news/2013-06-26/hertz-ramps-up-enterprise-attack-with-lowe-s-walgreen-kiosks
“Orchard Supply Hardware Common Stock Listing Removed from NASDAQ” “Orchard Supply Hardware Stores today announced that the NASDAQ Stock Market LLC has removed Orchard’s Class A Common Stock from listing and registration on the NASDAQ stock market. Orchard’s Class A Common Stock will continue to trade on OTC Markets under the symbol OSHWQ.” Read more: https://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsLang=en&newsId=20130626006566&div=-1245645151
“UK’s supermarket watchdog has power to “name and shame” supermarkets” at My Retail Media. “Christine Tacon, the UK’s new groceries code adjudicator, started work this week in her new position as supermarket watchdog. Having spent the last few months speaking to suppliers ahead of her official appointment, Tacon has already warned supermarkets that she will use her powers to impose fines on supermarkets that do not treat suppliers fairly, and that she has the power to “name and shame” those retailers breaking the code.” Read more: https://www.myretailmedia.com/blog/9171/uk_039_s_supermarket_watchdog_has_power_to_name_and_shame_supermarkets.php
“Facebook Now Has 9 Million Users in Pakistan” at Mashable. “Facebook is growing like a weed in Pakistan. In fact, the social networking service just broke the 9 million user mark — an especially impressive feat considering it only reached 8 million users earlier this year…70% of users are under 25.” See the Infographic: https://mashable.com/2013/06/27/facebook-users-pakistan/
Thanks for reading…
Follow on Twitter @retaileyeretail