WM Buys Mall | Nike CEO @ CNBC | Holiday Online +5.3%
Why Did Walmart Just Buy a Shopping Mall? at NY Times. “Walmart owns most of its store sites, but its new purchase makes it a landlord to other merchants, too. If the Monroeville project goes well, it could serve as a template for a new way for Walmart and other large players to grow. A multiuse center could open new revenue streams from housing, child and pet care facilities, health centers, and recreational spaces like bowling alleys and movie theaters…” NY Times subs.
Adobe: U.S. Holiday Shopping Season to Rise 5.3% YoY “Mobile devices…set to drive a record 56.1% share of online spend (vs. desktop shopping)…Adobe expects AI traffic to rise by 520% YoY…” Press release
1-800-FLOWERS.COM Names Home Depot Veteran Melanie Babcock Chief Marketing and Growth Officer “Most recently, (Melanie) served as Vice President of Orange Apron Media and Monetization, where she pioneered and built the retail media division…” Press release
Billionaire beef boss says Americans crave so much protein the country is outpacing its own production and turning to imports at Fortune/Yahoo. “Despite being the world’s No. 1 beef producer, the U.S. has had to turn to runner-up producer Brazil for a lifeline this year as cattle herds thinned out. Even the 10% “Liberation Day” tariff imposed by the Trump administration in April didn’t stop the flow of Brazilian beef. Imports were up 91% in the first half of the year.” Read more
The Hidden Tariff Costs at the ‘Disneyland’ of Grocery Stores (Stew Leonard’s) – Shrimp likely going up 25% WSJ subs. 5:22 video
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LA Coolkicks owner arrested over stolen goods investigation at USA Today/Yahoo
Loblaw closes two of three ‘no name’ discount stores one year after pilot at Financial Post. “…stores that promised customers up to 20 per cent savings on groceries…no refrigeration at stores…had a limited selection of 1,300 products…” Read more
Nike CEO Elliott Hill sits down with CNBC Read more/4:34 video
Jeff Bezos tells Gen Z entrepreneurs to gain work experience before launching new companies: ‘I started Amazon when I was 30’ at Fortune/Yahoo
Amazon starts ’em young with toy van for kids in new holiday catalog at GeekWire. “The blue van with the Prime logo on the side has a seat on top and a handle…It does come with three little Amazon boxes which feature wooden toy vehicles inside.” Read more/Pics
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