Wednesday’s Eye-on-Retail Tipsheet: Target wants to be Netflix | D.General Q2 Earnings Today | DC-Wmart Update
“Target Nears Debut Of Streaming Video Service” by Jake Anderson at Twin Cities Business. “Hints about the new service, called Target Ticket, appeared earlier this year on an online login page, which indicates that the platform is in beta mode and requires a promotional code and “Team Member ID” number to access it. But technology news outlet TechCrunch recently obtained documents that were reportedly distributed to Target employees—and that indicate that the new service is nearing its official rollout.” Read more
“Lowe’s Names McDermott SVP/General Merchandising Manager, Building and Maintenance” “Michael P. McDermott will join the company as senior vice president and general merchandising manager- building and maintenance, a new position. McDermott will be responsible for the Lumber & Building Materials, Millwork, Hardware & Tools and Rough Plumbing & Electrical divisions. He will report to Chief Merchandising Officer, Michael A. Jones.” Read more
“Dollar General Is Paying Its Way” at WSJ. “Dollar stores overall have had a fantastic run against Wal-Mart Stores Inc., which caters to overlapping demographic groups. If both companies’ guidance holds through the end of this year, Dollar General’s five-year compound annual growth rate for same-store sales will have been 5.9%, while Wal-Mart’s will be just 0.3%. In the next few years, though, that difference is seen narrowing.” Read more
“Dollar General Releases Q2 Earnings today at 9am CST” Listen to webcast
” ‘Walmart in DC’ bill stays with Mayor Vincent Gray – no decision made” by Justin Karp at ABC 7. “The Washington Business Journal reports that Gray was once again noncommittal about his decision on the so-called Walmart bill as many groups called for him to veto it. Gray received the bill on Friday – more than six weeks after it was passed by the D.C. Council – and has 10 business days to decide whether to sign it, veto it or send it back to the Council.” Read & See more
“Whole Foods Market to open Englewood (Chicago) store in food desert” by Maudlyne Ihejirika at Chicago Sun-Times. “The chain, which offers an affordable house brand of 2,000 products — the 365 Everyday Value and 365 Everyday Value Organic lines — opened a similar urban store in June in Detroit. That 21,000-square-foot, inner-city store is seeing profits. “We’ve been very pleased with how it’s doing,” Robb said. “The proof’s in the pudding, isn’t it? In the end, if we open a store and work with the folks in that community, we certainly understand it has to be affordable.” Read more
“Wegmans ends seasonal price freezes” by Tom Tobin at Democrat & Chronicle. “In announcing the price-freeze list in 2011, Wegmans pledged to shoppers that it would not raise prices for them even if costs for the company escalated. That happened many times in the years since, especially in the fruit, produce and meat categories. The discontinued price-freeze list contained 67 items, including meat, seafood, grocery, dairy, bakery, frozen foods and deli products. There were 14 seasonal produce items.” Read more
“Petco Launches $15 Million Campaign, Company Transformation Effort” by Natalie Zmuda at Ad Age. “Petco is handily outspent by rival PetSmart, which spent $94 million on measured media last year. Ms. Charles pointed out that, though it has a smaller budget, Petco seeks to better engage its customers through social media. Petco has 2.3 million fans on Facebook, compared to PetSmart’s 1.8 million fans. Petco also has more than double the number of followers of its rival on Instagram, though PetSmart is outpacing Petco by a few thousand followers on Twitter.” Read & See more
“Hashtags Make Your Facebook Posts Less Likely to Go Viral” by Christina Chaey at Fast Company. “EdgeRank Checker also found hashtagged Facebook posts were less effective at engaging fans and had lower organic reach than their hashtag-free counterparts.EdgeRank Checker’s findings on Twitter hashtags, on the other hand, showed tweets with hashtags had roughly double the likelihood of being retweeted than tweets without them.” Read the full report
“Ace gives new look to the paint aisles” by Sandra Pedicini at Orlando Sentinel. “Ace Hardware is changing its paint department and plans to give a sneak peek at its national convention next week in Orlando. An Ace spokeswoman said in an email the new departments will create a “boutique-style shopping experience” and offer an expanded line. Some stores will get the new paint sections this month, and most should have them by May.” Read more
“5 reasons 3-D printing isn’t quite ready for prime time” by Clay Dillow at CNN Money. “While cheaper printers, expiring patents, and a wider range of applications will certainly help drive the market — and perhaps even triple the value of 3-D printing’s nascent marketplace in the near term — a desktop manufacturing revolution this is not. Here are five reasons why.” Read more
“Home Retail (UK) says CEO Duddy to quit by July 2014” at Reuters. “After five straight years of profit declines, Home Retail is trying to reinvent Argos, its biggest business, for the digital age, targeting a 15 percent rise in sales by 2018. Home Retail, which also owns the Homebase DIY chain, said on Wednesday Duddy, CEO for seven years, had informed the board of his intention to step down from his role by the next annual shareholder meeting on July 2, 2014.” Read more
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