WM CEO Gifts $10M | ‘Blind Box’ Craze | Dillard’s Buys Mall
The secret to Labubus’ success? China’s ‘blind box’ craze at CNBC. “Ruan Yue, a 23-year-old student, says she spends $55 a month on blind boxes — and enjoys the gamble. Ruan owns 150 Labubu and other dolls from mystery packaging. “The moment you open the box if it’s a version you want or a limited edition, you get so excited,” she said…The Chinese government, however, has warned through its state media against “irrational consumption” and blind box “addiction.” Read more
Most Department Stores Are Leaving Malls. Dillard’s Is Buying One. at WSJ. “(Dillard’s) purchased the Longview Mall in Texas, about two hours east of Dallas. Dillard’s and a partner paid $34 million for the 47-year old mall…is a longtime favorite of Chief Executive Bill Dillard. The company also wanted to make sure it didn’t fall into the wrong hands.” WSJ subs.
Save A Lot Names Bill Mayo as New CEO – Its Third CEO in Four Years Press release
The Costly Ingredient That Big Food Companies Are Processing: MAHA at WSJ. “In Canada, the dough for Kellogg’s traditional Froot Loops is made at a plant in Belleville, Ontario, using coloring derived from carrots, watermelon and blueberries. (Its marshmallow version uses artificial dyes.) To switch to natural dyes in the U.S., Kellogg would need to secure huge quantities of new ingredients and retool parts of its plants, installing new pumps and other equipment.” WSJ subs.
Doug, Shelley McMillon give $10 million to University of Arkansas Walton College at Talk Business. “…to create the McMillon Innovation Studio Endowed Fund to support the studio’s operations and the McMillon Innovation Studio Construction Fund for the studio’s new home…The gift will permanently establish the McMillon Innovation Studio within the Sam M. Walton College of Business…” Read more
Tariff exemptions for packages shipped to the U.S. worth $800 or less are set to end this Friday at The Hill
Jim Cramer says he’s optimistic about CVS at CNBC. “[It’s] fixing its most problematic business, managed care, and seeing real strength in other parts of the business, especially the pharmacy side, where it is the last man standing,” he said.” Read more
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Robomart unveils new delivery robot with $3 flat fee to challenge DoorDash, Uber Eats at The Verge. “The level-four autonomous vehicle can carry up to 500 pounds and is made up of 10 individual lockers that hold customer orders. This structure is designed to allow for batch ordering so a robot can work on multiple deliveries at the same time.” Read more
First Netflix House opens its doors in Philly on November 12th at The Verge. “Misguided? Perhaps! But what else is America going to do with all those monuments to a bygone era of retail being abandoned across the country. If you build it, will they come?” Read more
Leaked Doc Shows How Much Walmart, Best Buy, and DoorDash Charge For Retail Media Ads on The Trade Desk Adweek subs.
Steep US tariffs set to hit Indian exports from Wednesday at Reuters/Yahoo. “An additional 25% duty…takes total tariffs to as much as 50%, among Washington’s highest, in retaliation for New Delhi’s increased buying of Russian oil.” Read more
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