Tuesday Tipsheet: Wmart Spokesman Out Over Resume | Target’s Top Toys | Sears Gets $400 Mil Loan
“Wal-Mart’s Chief Spokesman Said to Resign Over Resume Falsehood” by Renee Dudley at Bloomberg. “David Tovar, who announced last week that he was leaving the job as vice president of communications, has previously said he earned a bachelor of arts degree from the University of Delaware in 1996…Tovar gained attention this year by criticizing the New York Times on Wal-Mart’s blog. He posted a copy of a “wildly inaccurate” Times editorial by Timothy Egan and marked up the text with red editor’s notes.” Read more
“Eddie Lampert giving Sears a $400 million loan” by Alexia Elejalde-Ruiz at Chicago Tribune. “The loan comes less than a week after Fitch Ratings downgraded Sears Holdings’ credit rating to CC status, meaning “default of some kind appears probable.” Read more
“Target’s Top Toys List” “Target Corp. today unveiled its annual list of top toys for the upcoming holidays, as well as a new and expanded assortment of boutique brand toys that are designed to inspire creative play…” Read the release
“Neiman Marcus buys German retailer” by Maria Halkias at Dallas News. “The Mytheresa.com website has been in business since 2006 and has customers across Europe, the Middle East and Asia. It ships to more than 120 countries, and two-thirds of its online sales come from outside of Germany.” Read more
“Tiny Target store coming to San Diego’s South Park” by Katherine P. Harvey at U-T San Diego. “Mega-retailer Target is hopping on the small-store bandwagon, and Monday announced plans to open its sixth TargetExpress store in South Park next July. The store will be on the property currently occupied by the Gala Foods supermarket at Fern and Grape streets.” Read more
“Jeff Bezos’s Startup Is Part of Bid to Deliver Astronauts” by Andy Pasztor at WSJ. “Blue Origin LLC, the space-exploration startup Mr. Bezos has been quietly toiling over for years, is part of a team led by Boeing Co. that is expected to soon garner a NASA contract to ferry astronauts to and from the international space station, according to people familiar with the matter.” Read more
“Apple to steal business from malls this Christmas” by Michelle Fox at CNBC. “It’s going to be a decent Christmas, but it’s going to be driven in a very different direction from last year with the launch of the iPhone and some other things that are going on,” Mary Epner, principal of Mary Epner Retail Analysis, said in an interview with CNBC’s “Power Lunch.” “That’s going to take some business away from some of the traditional mall retailers.” Read more
“Costco: New home for affluent?” at CNBC. “Does Costco offer a compelling luxury product to consumers? Oliver Chen, Citigroup retail analyst, and Gregg Greenberg, TheStreet.com, debate if Costco is a luxury play.” See the video
“Kroger Named to Dow Jones Sustainability Index” Read the release
“Lowe’s CEO Robert Niblock Unloads $16,560,496 of Stock” at Sleek Money. “Following the completion of the transaction, the chief executive officer now directly owns 541,714 shares of the company’s stock, valued at approximately $28,613,333.” Read more
***
About Eye-on-Retail
Eye-on-Retail is a daily tipsheet read by thousands of Retail Merchants & Executives every weekday morning. Eye-on-Retail is unique because it’s timely, smart and fun. It’s created bright and early every morning and delivered between 7-8 am CT. 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.