“Target Backs Off $100 Billion Sales Goal” by Paul Ziobro at WSJ.  “Target Corp. backed off its goal for hitting $100 billion in sales by the end of 2017, as pressure on low-income shoppers and tough competition from rivals like Amazon.com Inc. weigh on results.  The retreat, made Wednesday during a meeting with analysts in Toronto, comes during a tough year for Target and other discounters.” Read more

 

“Target Canada Rollout Not Going as Planned” by Tom Webb at Twin Cities Business.  “Initial sales in Canada have fallen well short of expectations,” CEO Gregg Steinhafel told analysts Wednesday. But he remains “confident we will reach our long-range financial goals in our Canadian segment.” Still, officials concede Target will need to get better at restocking shelves, dealing with inventory and marketing their prices as competitive.  One analyst said, based on Target’s numbers, that Canadian sales fell 20 percent to 30 percent short of projections.”  Read more

 

“Amazon to take on Canadian grocers in crowded retail landscape” by Marina Strauss at Globe & Mail.  “American e-commerce powerhouse Amazon.com Inc. is launching online grocery and auto shops on Thursday, adding to an array of category additions this year that has included toys, beauty and home goods. The company is aggressively pushing into Canada, more than doubling its offerings this year, with 14 new kinds of products.”  Read more

 

“Wal-Mart managers talk fears, innovation and competition” by Kim Souza at City Wire.  “Eight divisional Walmart merchandising managers spoke candidly Wednesday (Oct. 30) to a group of 300 retail and supplier executives about what and who keeps them up at night…The team was asked to assess their competition in terms of who scare them most. The answers ranged from Kroger in dairy and fresh, Dollar General in candy and tobacco and Amazon in electronics.”  Read more

 

“Field & Stream Store #2 Opens (North of Pittsburgh) – Duck Dynasty Stars to Appear” by Cindy Schroeder at Cincinnati.com”  “I got an email from someone in Louisville asking me about the schedule for Si (Robertson) from ‘Duck Dynasty,’” Mayor Jim Collett said. “He was planning a 30th birthday party for his daughter, and she wanted to schedule her party around Si’s appearance.”  Read more / See the video

 

“Home Depot approaches 100,000 mobile POS transactions per week” by Lauren Johnson at Mobile Commerce Daily.  ““You can look at Home Depot – they came out with mobile POS. It was called FIRST program – Find, Inquire, Respect, Solve and Thank,” said Mary Monahan, executive vice president of mobile at Javelin, San Francisco…“Within the first quarter, they had done one hundred million transactions in mobile, and now they’re doing about 100,000 a week – within a year they will do 100,000 a week.”  Read more

 

“Kroger execs talk deals, data and private labels” by Alexander Coolidge at Cincinnati.com.  “Kroger’s namesake brand is its top seller, and its upscale Private Selection is its No. 6 brand, compared to an entire portfolio of goods sold by vendors like Procter & Gamble, PepsiCo and Smucker’s.  The company announced its year-old Simple Truth brand of healthy items is close to becoming a $1 billion brand.”  Read more

 

“Kroger Isn’t Afraid of Online Grocery Shopping” by Annie Gasparro at WSJ.  “When it comes to grocery stores and the internet, people want to go online to share recipes, find coupons and check their loyalty reward points, Mr. Dillon said during the Q&A session at Kroger’s investor day Wednesday. “Not for e-commerce.”  “I understand some people like that … but there’s still a large percentage of customers that like to get out and have that interaction with friends and neighbors in their community as they walk through the store,” Mr. Dillon said.” Read more

 

“Retailers Brace for Reduction in Food Stamps” by Shelly Banjo and Annie Gasparro at WSJ.  “Retailers and grocers are bracing for another drain on consumer spending when a temporary boost in food-stamp benefits expires Friday…Wal-Mart estimates it rakes in about 18% of total U.S. outlays on food stamps. That would mean it pulled in $14 billion of the $80 billion the USDA says was appropriated for food stamps in the year ended in September 2012.”  Read more

 

“93% of U.S. Consumers Are Loyal to Brick and Mortar Retailers Who Have Sales on Frequently Purchased Items”  “85% of respondents said they would return to brick and mortar stores when alerted to upcoming sales of previously purchased items.  Also while 92% of U.S. consumers use some kind of shopping list (68% specifically use or bring a paper list) to stay organized, most Americans frequently make unplanned purchases, and half describe themselves as impulsive shoppers.”  Read more

 

Follow @retaileyeretail