Today’s Tipsheet: Wmart: Pink Slips & Supplier Pressure | Target Founder’s Estate Sells | REI’s New VP of Retail
Rumors continue about deep job cuts at Wal-Mart, Sam’s Club HQ by Kim Souza at The City Wire. “Rumored corporate layoffs at Wal-Mart and Sam’s Club offices in Bentonville persist, with five sources each telling The City Wire on Wednesday (Sept. 23) that the retail giant will begin handing out pink slips as early as this Friday and continue through the fiscal quarter which ends Oct. 31.” Read more
Target founder’s lakeside estate sold for $5.3M by Sam Black at Minneapolis/St.Paul Business Journal. “The buyer was an entity controlled by developer and real estate agent George Stickney, who plans a housing development.” See the 17 pics / Read more
Wal-Mart presses suppliers to share benefits of cheaper yuan by Nathan Layne & Nandita Bose at Reuters. “Wal-Mart managers in recent weeks have contacted more than 10,000 suppliers in various countries, all of which have manufacturing facilities in China, seeking cost cuts of 2 percent to 6 percent on mainly general merchandise including home furnishings, apparel, health and beauty products, appliances, electronics and toys, according to a consultant who advised Wal-Mart on the move and spoke on condition of anonymity.” Read more
J.C. Penney has a new chief merchant by Maria Halkias at Dallas News. “John Tighe, 46, has been named executive vice president and chief merchant at J.C. Penney, following his mentor, Liz Sweney, into the top merchandising role at the Plano-based department store.” Read more
Canadian Tire debuts mobile credit card app, game and loyalty card by Hollie Shaw at Financial Post. Read more
Target Is Tops in Driving Mobile Sales at Barron’s. “Though consumers spend 60% of digital shopping minutes on mobile, mobile captures only 16% of digital dollars, showing a significant mobile monetization-gap opportunity for retailers who execute well with apps and conversion security.” Read more
**A message from Hot Shot Insecticides – While you’re away, what creepy-crawlies are at play? Be the hero with Hot Shot(R) Insecticides — our household bug solutions root out hidden insect pests before they move in and multiply. It’s the clear advantage at home and in the checkout line. Save the day! Check out our videos Visit us on Facebook
Field Agent Study: The Rise of Online Grocery Shopping See the full report here
Union fired workers for trying to organize a union: source by Lisa Fickenscher at NY Post. “The union trying for years to organize Walmart workers employs non-union staffers — and fired several of them 15 months ago when they attempted to organize, one former insider claims.” Read more
REI Promotes 25-Year Veteran Rachel Ligtenberg to Vice President of Retail Read the release
Smart & Final to open 100-plus stores in four years by Mike Troy at Chain Store Age. “Smart & Final, a uniquely positioned operator of 266 warehouse style stores, has plans to open 100 new stores in the Western United States during the next four years. CEO Dave Hirz dropped that bombshell while he and other senior members of the company were at the New York Stock Exchange to ring the opening bell to commemorate the one year anniversary of the company’s listing.” Read more
Home Depot Employees Arrested for Over $200,000 in Credit Card Fraud by Andrew Cohen at Long Island Exchange. Read more
Photos: Tim Cook, Jeff Bezos and Mark Zuckerberg meet China’s president at Microsoft by Taylor Soper at GeekWire. “ See the pics / Read more
Tipsheet Extra
Meet the seafood rap star at Costco
Walmart Workers Still Unsatisfied, 7 Months After Widely Celebrated Pay Raise
Ron Johnson wants to deliver the iPhone 6s to you in under 4 hours
Here’s a list of companies, people that Quirky owes money to
Reporter not impressed with Walmart in-store pickup
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 our website at www.eyeonretail.net