Lowe’s set to open its first store in Manhattan by Lisa Fickenscher at NY Post. “Anchoring the corner of Broadway and West 68th Street, in a former Food Emporium space, Lowe’s is unveiling what it describes as a “test store,” a smaller format that will be a model for other urban stores across the country. The chain is opening a second Manhattan outlet in September in Chelsea.” Read more

 

Costco purchases land in southeast Redmond for long-delayed project by Angel Gonzalez & Sanjay Bhatt at Seattle Times. “Costco Wholesale has bought a big chunk of land in southeast Redmond, signaling that a long-delayed project to build a warehouse there could be moving forward after six years…Costco chief financial officer Richard Galanti confirmed that purchase on Friday but didn’t provide further detail.” Read more

 

Target’s reputation with parents improves faster than the competition by Cody Nelson at Minneapolis/St.Paul Business Journal. “About 53 percent of parents surveyed said they would consider the Minneapolis-based retailer when they make their next purchase at a major retailer. Target ended up at No. 2 on the list, finishing about 9 percentage points behind Wal-Mart.” Read more

 

…See the study via YouGov.  Read here

 

Daiso Japan dollar store opens first of many Texas stores by Maria Halkias at Dallas News. “The first of about 10 Daiso stores in Dallas and 10 more in Houston opens Saturday…Daiso is the largest 100 Yen store in Japan with more than 65 percent of the category’s market share. It has more than 2,800 stores in Japan and more than 600 in 28 countries.” Read more

 

Ullman steps down, again, as Penney CEO by Maria Halkias at Dallas News. “There weren’t two or three executives walking the face of the earth at the time that could have saved Penney,” said Marvin Ellison, who succeeded Ullman as CEO on Saturday.” Read more

 

Etsy is growing up. Here’s why it needs Congress’s help by Jacob Bogage at Washington Post. “The trendy online marketplace is on a mission to grow up. And on Capitol Hill, it learned that growing up starts with grip-and-grins before transitioning into policy debates…Company executives set up two days of marathon meetings with 20 members of Congress, including Rep. Darrell Issa (R-Calif.), Sen. Ron Wyden (D-Ore.) and power broker Sen. Mark R. Warner (D-Va.).” Read more

 

Whole Foods CIO Jason Buechel Promoted to Executive Management Team by Steven Norton at WSJ. “Mr. Buechel retains his responsibilities as CIO, but now has the same voting power as other senior executives, according to a spokesman. He previously reported to CFO Glenda Flanagan.” Read more (Subscription)

 

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CVS drives another nail in film’s coffin: No more 1-hour processing by Hiawartha Bray at Boston Globe. “A phase-out that began four years ago concluded at the end of July with CVS removing the last of its one-hour film processing stations from its 3,000 stores.” Read more

 

New York Reaches Accords With Sellers of Toy Guns by Rachel Abrams at NY Times. “Walmart, Sears and Amazon are among a handful of retailers that have agreed to keep realistic-looking toy guns off their shelves as part of settlements with the New York attorney general’s office.” Read more

 

Jet.com willing to spend money to make money, CEO says by Trent Gillies at CNBC. “Lore has no fear of red ink—at least until he gets what he wants. “In the short term, we will incur losses until we get to scale,” he said.” Read more

 

India’s Snapdeal, an Amazon Competitor, Raises $500 Million by Jason Del Rey at Recode. “Alibaba finally has its ally in India, perhaps the world’s hottest e-commerce market. The Chinese e-commerce giant has invested in Snapdeal, an India-based e-commerce startup, as part of a $500 million round, according to multiple sources.” Read more

 

City’s plastic bag ban could mean more potato chips in your cart by Gregory Karp at Chicago Tribune. “A new academic study in the Journal of Marketing finds shoppers with reusable bags often feel virtuous, because they are acting in an environmentally responsible way. “That feeling easily persuades them that, because they are being good to the environment, they should treat themselves to cookies or potato chips or some other product with lots of fat, salt or sugar,” write Uma R. Karmarkar of Harvard University and Bryan Bollinger of Duke University.” Read more

 

Tipsheet Extra

Australia: Target wins rights to the name Tarjay after legal battle

Dick’s Sporting Goods opening first North Dakota store

Canada in ‘mild recession’ after economy shrinks five months in a row

Former Dole president Michael Carter to sell $25M San Juan Island estate (Pics)

Kroger wants to hire 2,000 for its Atlanta Division

Jessica Alba’s Honest company under fire over sunscreen

Target Store in Louisville to Close

Read Tipsheet Extra Stories

 

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Eye-on-Retail Tipsheet is created early every weekday morning and read by retail merchants and executives worldwide. 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. See our website at www.eyeonretail.net