Home Depot Q4 US Comp Sales +8.9% “The Home Depot today reported sales of $19.2 billion for the fourth quarter of fiscal 2014, an 8.3 percent increase from the fourth quarter of fiscal 2013. Comparable store sales for the fourth quarter of fiscal 2014 were positive 7.9 percent.” Read the release
CNBC: Home Depot profit rises 36%, warns on currency by Katie Little. “Oppenheimer & Co. Managing Director Brian Nagel told CNBC this was “another very good report from Home Depot” which illustrated both the company’s strength from an operational standpoint and signs that the home improvement market is solid.” Read more
In wake of dock pact, some ‘ships in a hurry’ depart so fast they leave cargo behind by Steve Wilhelm at Puget Sound Business Journal. “Carriers want to get back on schedule, and so they’re leaving early,” she said. “Maybe we were surprised to find the ships were leaving early, unexpectedly early, and leaving cargo behind.” Read more
Target Slashes Free Shipping Minimum to $25 at A Bullseye View. Read more
…The move gives Target the lowest free shipping threshold among retailers in the top 25 of Internet Retailer’s Top 500 Guide, except for Nordstrom by Matt Linder at Internet Retailer. Read more
Wal-Mart de Mexico Chief Financial Officer to Retire by Amy Guthrie at WSJ. “Chief Financial Officer Rafael Matute, who has worked at the retailer for 28 years, will be replaced by Wal-Mart Latin America CFO Pedro Farah.” Read more (Subscription)
Amazon negotiating for Twin Cities distribution center site by Sam Black at Minn./St.Paul Business Journal. “Amazon.com is negotiating to buy 66 acres in Shakopee to develop a large distribution center…the two sides are very close to a purchase agreement for about half of the Shenandoah Business Park, according to sources familiar with the negotiations.” Read more
Dick’s Sporting Goods CEO buys South Florida mansion for $12M by Brian Bandell at South Florida Business Journal. “The 8,946-square-foot home sits on 1.05 acres along a private beach at 11610 Turtle Beach Road. The five-bedroom, five-bathroom home was built in 1977 and valued by the county appraiser at $5.4 million.” Read more
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Target Gives ‘Caroline’s Cart’ a Test Run in 20+ Cities this Spring by Nadine Maeser at WBDJ 7 CBS – Roanoke. “Caroline’s Cart is unique because it has a 5-point harness and allows a person to face the shopper while they browse the aisles…(Amanda) McClelland says she plans on asking other stores like Wal-Mart and Sam’s Club to get the cart as well.” See the video / Read more
Amazon Fuels DHL Unit Expansion on E-Commerce Boom in India by Adi Narayan at Bloomberg. “Up to five years ago, you never had e-commerce figuring in BlueDart’s list of top five verticals,” said Monteiro, who oversees all of Blue Dart’s operations. “Today, it is the largest vertical and demand is far outstripping supply.” Read more
Aldi sees potential for 450 stores in Texas by Maria Halkias at Dallas News. “The company is looking for producers and growers of all sizes, (Hector) Alejandro said. “Some companies may only be able to supply us in one or two states,” he said.” Read more
Morgan Stanley: Dicks Sporting Goods Could Take Market Share From Sports Authority by Kevin Riley at Benzinga. “40 percent of The Sports Authority’s 451 stores are within 5 miles of Dick’s 603 stores (65 percent within 10 miles). Read more
Chef Jenn creates gourmet seafood for Wal-Mart by Kim Souza at The City Wire. “Last summer she said a friend emailed her a news piece about Wal-Mart holding its first Open Call in Bentonville looking for new suppliers…McCullough met with Catherine Johnson a seafood buyer at Wal-Mart and still had no expectations that the retailer would want to stock her seafood entree…She made a few trips back to Bentonville and we launched in 300 to 400 stores to start,” Johnson said.” Read more
Home Depot data breach court battle will unfold between May and August by David Allison at Atlanta Business Chronicle. Read more
Ann Taylor, Chico’s Seek Buyers to Overhaul Aging Brands by Lindsey Rupp at Bloomberg. “Both Chico’s and Ann have been in discussions with private-equity buyers, according to people familiar with the talks. Neither company has announced a deal.” Read more
Guest Author: Rebuilding Empires by Thomas Lee (Excerpt 1 of 4). “When Target first started to develop Cartwheel in early 2013, the retailer had modest expectations for its social savings tool. More so than other retailers, Target enjoys a web-savvy customer base that loves to chat about their purchases just as much as they like to buy them.
Partnering with Facebook, the retailer would offer daily deals to customers, who could later redeem the offers via their mobile devices at Target stores. Shoppers could earn even more discounts if they convinced their social media friends to sign up for Cartwheel and redeem deals.
“People love talking about Target, our differentiated product or content,” said multichannel chief Casey Carl. “They love to share their thoughts on it. ‘Hey, I just got this great dress. I’m going to wear this here. What do you think? Fantastic.’”
But something else happened. Much to their surprise, shoppers weren’t just sharing deals on Facebook: they were visiting Target stores more often and buying more stuff per trip, Carl said.
“That actually wasn’t how we designed it,” he said. “But I will tell you that we’ve done a major pivot from what we originally conceived it to be. About half of our guests are actually using it in-store. The best description is like your weather app. They’re using it all the time as a utility app and as an inspirational thing where the social element really plays.”
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