Target Q4 Comp Sales +3.6% “Traffic grew 3.2 percent in the fourth quarter…comp digital channel sales increased 29 percent contributing 1.8 percentage points of comparable growth…healthy comp sales growth across all five of its core merchandise categories.” Press release

 

…Target shares drop on profit miss, wage hikes offset sales gains at CNBC. “Actual vs. expected: Adjusted earnings per share: $1.37 vs. $1.38 expected. Revenue: $22.8 billion vs. $22.5 billion. Same-store sales: 3.6 percent growth vs. an increase of 3.1 percent.” Read more

 

U.S. clothing, cosmetics on possible EU retaliation list at Reuters. “(The EU) has drawn up a list of 2.8 billion euros ($3.46 billion) worth of U.S. products on which it could apply a 25% tariff. Commission President Jean-Claude Juncker said on Friday those products included Harley Davidson motorcycles, bourbon and Levi jeans.” Read more

 

Trump administration backs states’ bid to collect online sales taxes at CNBC. Read more

 

Amazon is bringing free Whole Foods delivery to Prime members in San Francisco and Atlanta by Jason Del Rey at Recode. Read more

 

GameStop announces death of former CEO Paul Raines by Korri Kezar at Dallas Business Journal. “Raines resigned from the Grapevine retailer’s top role in November due to “a reoccurrence of his previously disclosed medical issue.” Read more

 

House Speaker Paul Ryan to visit Home Depot’s Atlanta HQ this Thursday by David Allison at Atlanta Business Chronicle. “During his visit, Ryan will observe a product demo, participate in an employee town hall, and hold a press conference, according to a statement from his office.” Read more

 

CVS readies $44 Billion bond sale – Largest corporate bond sale in more than two years will help it pay for $69 billion acquisition of Aetna by Matt Wirz at Wall Street Journal. Read more (subs.) | Bloomberg article

 

**A message from Kidibul – The festive, bubbly beverage made for kids’ parties! Wildly popular European beverage now available in the US for the first time. 100% natural & sparkling juice in a champagne type bottle with natural cork & wire to pop. Great for birthdays, New Year, Christmas, etc. Kids love the bubbles! Website | PowerPoint | Samples: info@eyeonretail.net

 

Nordstrom’s Spurned $50-a-Share Bid Sends Family Scrambling by Lindsey Rupp at Bloomberg. Read more

 

Lowe’s scores a 104% higher conversion rate when customers interact with 3-D objects in its app compared to those who didn’t by Ann-Marie Alcantara at Adweek. Read more

 

As of March 2, 2018, Rite Aid has transferred 1,651 stores and related assets to Walgreens…Walgreens will purchase a total of 1,932 stores Press release

 

Toronto home sales plummet 35% as new mortgage rules bite by Naomi Powell at Financial Post. “Prices tumbled too, down more than 12% from a year ago.” Read more (Tiered subs.)

 

Tower Records Founder Russ Solomon Dies at 92 at Variety. “The deep impact of Solomon’s vision on music retailing was captured in the elegiac 2015 documentary “All Things Must Pass,” produced by Colin Hanks, which featured Solomon and other Tower execs.” Read more

 

Rare peak inside Mars Inc’s McClean headquarters by Robert J. Terry at Washington Business Journal. 20 pics/Read more

 

Chico’s Makes NAFE’s Top 10 List of Best Companies for Executive Women by Lisa Lockwood at WWD. “In addition to Chico’s, the NAFE Top 10 Companies for 2018 are L’Oréal, Procter & Gamble, Accenture, Deloitte, Ernst & Young LLP, FleishmanHillard, IBM, JLL and Marriott International.” Read more

 

New Costco warehouse to bring 1000 jobs to Western Sydney by Laura Tunstall at News 9. “Costco will open its 10th store in Australia this year, but the new distribution centre will have the capacity to supply 30 stores. It will also service the company’s new online store, which is expected to be up and running next year.” Video/Read more

 

Sears Canada shareholder payments to be reviewed via Toronto Star. “Superior Court has appointed a litigation investigator to review $3 billion in payments made to Sears Canada shareholders, while the company’s pension fund had a nearly $300 million shortfall.” Read more

 

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Read Tipsheet Extra Stories

 

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