WM DFW Strategy | CNBC Exposes Crime | Galanti Exit Iview
Inside the organized crime rings plaguing retailers including Ulta, T.J. Maxx and Walgreens at CNBC. “These organized theft groups don’t typically carry out the splashy “smash and grab” robberies seen in viral videos. Instead, they pilfer goods quickly, quietly and efficiently…CNBC has spent about eight months embedding with various law enforcement agencies and investigating theft groups to understand what organized retail crime looks like from the ground.” Read more
….Ulta CEO says e-commerce sites can do more to stop the sale of stolen goods “We shouldn’t have an environment where it’s possible to steal from one retailer and [have it] end up on any other platform, any other large-scale, mainstream platform,” Kimbell said, without mentioning Amazon.” Read more/Video
Kohl’s Q4 comp sales down 4.3% Press release
…Kohl’s joins department store retailers to warn of weak 2024 growth at Reuters. “While Kohl’s beat bottom-line expectations by managing inventory down and boosting its margins, it has plenty more work to do as its top-line results fell short,” said Zak Stambor, senior analyst at Insider Intelligence.” Read more
…Babies R Us coming to about 200 Kohl’s stores Press release
Walmart discusses Dallas-Fort Worth strategy at Dallas Morning News/NWA Democrat Gazette. “Dallas-Fort Worth made sense “for us to bring all of the future in one place at one time,” said Dave Guggina, executive vice president of supply chain for Walmart U.S. “Dallas is a pretty special place for us. It’s really a unique place in the country.” Read more
Walmart Wants to Teach Store Managers Compassion at NY Times/Yahoo. “Most weeks, Walmart flies a group of 50 from across the country — about 1,800 last year in all, with 2,200 expected this year — to what it calls its Manager Academy…The attendees receive an hourlong tour around headquarters where passing executives stop and chat — and are sometimes peppered with questions about the business.” Read more
Why Walmart’s quick success in generative AI search should have Google worried at CNBC. “We’re going to see this become a norm for online retailers,” said Jacob Bourne, analyst at Insider Intelligence. “Google is anxious is about search in general, and the question this raises is will it be a death by a thousand cuts for Google Search?” Bourne said.” Read more
Casey’s Q3 inside same-store sales increased 4.1% Press release
Costco’s Outgoing CFO Gets Candid About 40-Year Tenure at Progressive Grocer. “One of my kids was in the office a few weeks back. He came up to my cubicle and we went to go down to the commissary to have a bite to eat and someone asked, “Are you excited about your dad’s retirement?’ And he said, “Frankly, we are a little concerned – ‘What he is going to do?’” Interview
Macy’s, Inc. names Michael Krans VP, Macy’s Media Network “Krans joins Macy’s, Inc. following his most recent role leading the fashion team at Walmart Connect…” Press release
Ikea is cutting prices as inflation eases — and more could be on the way at CNBC. “This is the moment for companies like Ikea to invest in pricing rather than profitability,” he said, adding that a lot of people now have “thinner wallets.” The price cuts, which started in Europe in September, have led to an increase in customers, as well as an increase in items sold by the retailer, according to Öncü.” Read more
Judge rules in favor of a Safeway worker who was fired after trying to stop a shoplifter at Yahoo News
Rite Aid advisers rake in millions. Opioid victims brace for nothing at Bloomberg/Seattle Times. “While rivals Walmart, CVS and Walgreens agreed to pay more than $13 billion combined to settle opioid lawsuits, Rite Aid never reached a similar accord before its bankruptcy filing put litigation on hold…And unlike drugmakers that have gone bankrupt, the retailer doesn’t expect it will wind up with any money to pay opioid victims.” Read more
The South’s Best Travel Stops 2024 (Buc-ee’s #1, Love’s #2, QT #3) at Southern Living
Advance Auto Parts to add three board members as activist investors take stake at Reuters