Today’s Tipsheet: Family Dollar Q3 Comp +2.9% | Target’s San Fran Tech Center | Wmart Done w/DC
“Family Dollar Comp Sales +2.9% in Q3” “Net sales for the third quarter ended June 1, 2013, increased 9.0% to $2.57 billion from $2.36 billion in the third quarter of fiscal 2012 ended May 26, 2012. Comparable store sales in the quarter increased 2.9%. The increase in comparable store sales was a result of an increase in the average customer transaction value and higher customer traffic.” Read more: https://www.businesswire.com/news/home/20130710005406/en/Family-Dollar-Reports-Quarter-Results?utm_source=dlvr.it&utm_medium=twitter
“Target Corp. eyes Silicon Valley with innovation center in San Francisco” by Thomas Lee at Star-Tribune. “Wal-Mart Stores Inc. already established its e-commerce headquarters in San Bruno, Calif. Nordstrom and Home Depot also operate technology labs in Seattle and Austin, Texas, respectively…The retailers are scouring universities, venture capital offices and start-up incubators, especially in Silicon Valley, which is experiencing yet another tech boom.” Read more: https://www.startribune.com/business/214851461.html
“Wal-Mart says it will pull out of D.C. plans should city mandate ‘living wage’ by Mike DeBonis at Washington Post. “The D.C. Council bill would require retailers with corporate sales of $1 billion or more and operating in spaces 75,000 square feet or larger to pay their employees no less than $12.50 an hour. The city’s minimum wage is $8.25. While the bill would apply to some other retailers — such as Home Depot, Costco and Macy’s — a grandfather period and an exception for those with unionized workforces made it clear that the bill targets Wal-Mart, which has said it would open six stores, employing up to 1,800 people.” Read more: https://www.washingtonpost.com/local/dc-politics/wal-mart-says-it-will-pull-out-of-dc-plans-should-city-mandate-living-wage/2013/07/09/4fa7e710-e8d0-11e2-a301-ea5a8116d211_story.html?hpid=z1
“Kroger CEO: Don’t expect big changes with Harris Teeter acquisition” by Ely Portillo at Charlotte Observer. “Kroger CEO Dave Dillon told the Observer he plans to give Harris Teeter plenty of autonomy and to keep the company’s name and culture intact. Kroger plans to maintain the company’s local headquarters and operate the grocer as a subsidiary.” Read more: https://www.charlotteobserver.com/2013/07/09/4154807/kroger-to-buy-harris-teeter.html#storylink=cpy
“Grocery consolidation continues with Kroger’s expansion” by Kim Souza at The City Wire. “Kroger is already the largest pure-play grocer in the country with $92.165 billion in sales last year. With this merger Kroger will operate 2,631 supermarkets and employ more than 368,300 workers in 34 states and the District of Columbia.” Read more: https://www.thecitywire.com/node/28534#.Ud05HfnVDpU
“New Food Lion Ad Targets Wal-Mart” by John Springer at Supermarket News. “A television commercial for Food Lion running currently in select markets shows a shopper at a store resembling a Wal-Mart asking an employee where the syrup can be found. The shopper waits while the worker calls across to several departments in an attempt to locate the item before directing the shopper to pharmacy — for cough syrup. “Don’t deal with the Wal-Mart runaround,” a voice over says, emphasizing convenience at Food Lion.” Read more: https://supermarketnews.com/retail-amp-financial/new-food-lion-ad-targets-wal-mart-video#ixzz2YdoCZtx4
“Amazon’s 42 Acquisitions” by David Wolpert at Software Advice. “Amazon is no stranger to acquisitions. In fact, the company has acquired 42 companies since its first acquisition in 1998, and has invested in several more.” See the infographic: https://blog.softwareadvice.com/articles/retail/who-will-amazon-buy-next-0713/
“Frost & Sullivan: Mega Trends Such as Connectivity and Convergence Spur Retail Industry’s Shift to Online Channels” “New analysis from Frost & Sullivan, Bricks and Clicks, finds that online retail revenues will reach $4.3 trillion in 2025, accounting for nearly 20 percent of total retail. In leading markets like the United States and the United Kingdom, nearly 25 percent of retail will be online.” Read more: https://www.prnewswire.com/news-releases/frost–sullivan-mega-trends-such-as-connectivity-and-convergence-spur-retail-industrys-shift-to-online-channels-214706451.html
“Office Depot Closes Sale of Joint Venture Stake in Office Depot de Mexico” “Office Depot, Inc. a leading global provider of office supplies and services, today announced the closing of the sale of its 50% stake in Latin American Joint Venture Office Depot de Mexico S.A. de C.V. to Grupo Gigante, S.A.B. de C.V. for the Mexican Peso amount of 8,777.36 million in cash.” Read more: https://www.businesswire.com/news/home/20130709006681/en/Office-Depot-Closes-Sale-Joint-Venture-Stake?utm_source=dlvr.it&utm_medium=twitter
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