Tuesday Tipsheet: Wmart CEO Race: McMillon Wins, What’s Next for #2 Simon? | Costco & Lowe’s: Australian Headaches


“Wal-Mart Taps Veteran as New CEO” by Shelly Banjo at WSJ.  “In a meeting with senior managers in Bentonville on Monday, Mr. McMillon highlighted his commitment to following in founder Sam Walton’s footsteps by placing more focus on merchandise but also underscored the changing and evolving needs of the customer, according to a Wal-Mart executive who attended the meeting.”  Read more 


“Walmart CEO Race:  What’s Next for #2 Choice Bill Simon?” by Kim Souza at City Wire.  “Will Bill Simon remain at the helm of Walmart US? If not, does Duncan MacNaughton assume the helm of US operations? There could be a domino effect there,” Nicholas said…Brian Sozzi, CEO of Belus Capital Advisors, believes Simon will stay on as CEO of Wal-Mart U.S. because he is connected to the brand, but said at some point he could get pushed out.”  Read more


“Costco Urged to Sign ‘Behavior Code’ ” by Blair Speedy at The Australian.  “The code prohibits a range of behaviors complained of by suppliers, including demands for lower prices once contracts have already been signed and payment in return for products being displayed on more prominent shelves…Speaking to The Australian, Costco Australia managing director Patrick Noone said he had no plans to sign the code.  “As far as I understand, it’s a code of conduct for Woolworths and Coles.”  Read more


“Target CMO Jeff Jones to Host Black Friday Twitter Chat”  “Jeff Jones, EVP and CMO, will be out and about in Columbus, Ohio on Thanksgiving.  He’s excited to serve as A Bullseye View’s on-the-ground scout to provide insights on the night’s events. He’ll share his Black Friday observations, from bestselling items to crowd reports, during our #TargetChat starting at 10:00 p.m. ET via @ABullseyeView.”  Read more


“Does Lowe’s Want Out of Masters (Australia) Joint Venture?” by Stephen Bartholomesuz at  Business Spectator.  “Masters stores are pitched as a premium offering compared to Bunnings, with more visually appealing layouts and lower stock densities…But they aren’t necessarily the kind of stores that would attract tradespeople and hard-core DIY handymen who frequent Bunnings…Lowe’s had an option to put its one-third interest in Masters, which was extended earlier this year to October next year…The fate of the option will eventually provide some insight into how Lowe’s is thinking about how the venture is tracking.”  Read more


“Closed & Proud:  Menards takes out full page ad to say its Not open on Thanksgiving Day” by Nick Bohr at WISN 12 News.  “Menards has gone so far as to buy a full page newspaper ad explaining they’re closed because Thanksgiving “should be celebrated with all those we hold dear.”… “Not only aren’t you open, but you seem to be making a statement about it,” WISN 12 News reporter Nick Bohr said.”  See the Video / Read more


“Eddie Lampert considers sale of Sears Canada” by James Covert at NY Post.  “Lampert is interviewing multiple banks including Goldman Sachs about conducting a prospective process, according to sources close to the situation.”  Read more


“Rebuttal from Sears:  ‘False Statements’ from NY Post”  “It is false to claim that Mr. Lampert, the CEO of Sears Holdings, is interviewing or otherwise is in talks with investment bankers about Sears Holdings’ interest in Sears Canada. Similarly, the claim that Mr. Lampert is conducting a ‘beauty contest’ also is false.”  Read more


“Best Buy’s Risky Black Friday Twitter Campaign” by Jason Del Rey at All Things D.  “The electronics retailer has purchased Twitter ads asking shoppers to create seven-second Vine videos while waiting in line on the big shopping day…I asked Best Buy spokeswoman Amy von Walter about the chance of someone videoing a confrontation and using the #VineinLine hashtag to publicize it.”  Read more


“The Coming Price War in Canada” by David Friend at Financial Post.  “A survey released by Level5, a brand strategy adviser, found that consumer sentiment for Target is on level with the struggling operations of Sears Canada.  Some customers likened Canada’s version to “Target Lite,” with lackluster prices and an atmosphere that, despite renovations, still had the feel of the Zellers outlets that occupied the same spaces for years before…“All the Canadian companies are now running and seem to be more prepared than they were before. We’re in a period of transition.”  Read more


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