Today’s Tipsheet: China Pres. to Meet Bezos | Wmart’s ‘Magic’ Text | B.Buy Founder Gives $500K for Entrep.
Ex-Walmart Exec Cindy Davis on the Biggest Lesson She Learned at Walmart by Jon Lafayette at Broadcasting & Cable. “The biggest lesson I learned [at Walmart] is that all consumers don’t want the same thing, and even the same consumer wants different things at different times based on their needs,” Davis said. “The key is to have your finger on the pulse of that, so you can innovate and help deliver that to the consumer the right way.” Read more
ThredUp: Reinventing the resale business 20 years after eBay by Sarah Halzack at Washington Post. “…he believed there could be big business in helping them sell those pieces online if he could make it as easy as stuffing the castoff clothing in a bag and getting it to a mail carrier. There are signs that his model is getting some traction: ThredUp received 3.8 million items from sellers last year and $81 million in fresh funding earlier this month.” Read more
Best Buy founder Dick Schulze to spend $500,000 to bolster entrepreneurship by Neal St. Anthony at Star Tribune. Read more
Walmart Simple Text Could Be Walmart’s Version Of Magic by Drew Olanoff at Tech Crunch. “I was shocked that Walmart Labs wasn’t testing something like this already, but if these three keep hammering away at it, making it smarter with AI and tapping into more parts of the Walmart API, it could actually turn into something sustainable.” Read more
Specialty Pharmacy Boom Will Continue And CVS Health To Be a Major Beneficiary by Trefis via Forbes. Read more
Chinese President arrives in Seattle today, will meet with Jeff Bezos and other CEOs tomorrow morning by Ashley Steward at Puget Sound Business Journal. See the itinerary / Read more
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Thousands of spectators expected at sale of Alice Walton’s horses by Michael Lindenberger at Dallas News. “…I sat there at her table and she interrogated me like she was an attorney during cross-examination…Moving to Fort Worth might bring some relief to another group of folks: the workers at the Super Wal-Mart in Mineral Wells, near her ranch…“She goes there and as soon as they see her coming, they straighten right up.” Read more
Student Entrepreneurs Pitch Sam’s Execs, Get Face-to-Face with Rosalind Brewer at NWA. See the video / Read more
Macy’s says more than 14% of its 85,000 seasonal hires will work in fulfillment by Matt Linder at Internet Retailer. Read more
Airport security accepts Costco cards at Fox News. “(Erica) Ho told her tale of woe to Transportation Security Administration agents at the airport, where she showed them the Costco card and some credit cards bearing her name. She was then moved aside for a secondary screening and pat down. And that was it.” Read more
Tracy Morgan’s Emmy Speech Irks Walmart Truck Driver’s Lawyer by Whitney Friedlander at Variety. “This is exactly what happens when a prosecutor and a judge allow parties to dictate what’s important and control the proceedings,” Glassman said in a statement.” Read more
Buy the house immediately across the street from Amazon’s Jeff Bezos by Patti Payne at Puget Sound Business Journal. See the 20 pics / Read more
Tipsheet Extra
Home Depot’s Ann-Marie Campbell discusses women’s advancement at Oct.19th event
Washington Post: Another Whole Foods mess – Abuse alleged at pig farm linked to chain
Costco shopper, 78, punched in fight over free Nutella waffle sample
Comedian Steve Harvey buys latex plant, meets with Doug McMillon, gets commitment
Dick’s Opens #631
Staples, Office Depot $11.3B merger may not happen: source
Eye on Retail Tipsheet is created early every weekday morning and read by retail merchants and executives worldwide. We love data, earnings reports, executive presentations and stories off the beaten path that get at what’s really happening in the world of retail. See the website at www.eyeonretail.net