US GDP rose a better-than-expected 1.9% in the third quarter as consumers continued to spend at CNBC. “Economists polled by Dow Jones had expected the first look at U.S. economic growth in the third quarter to come in at a 1.6% rate…Personal consumption expenditures, a gauge of spending by American households, rose at a 2.9% annualized rate while government spending grew at a 2% rate.” Read more

 

How HBC’s CEO Is Trying to Win Canadians Back to Hudson’s Bay by Phil Wahba at Fortune. “(Helena Foulkes) said that the Neiman Marcus that opened in Manhattan in March has so far had “no effect” on business at the Saks flagship, which recently underwent a $250 million renovation.  She added that Nordstrom, which last week opened a massive New York City store, doesn’t serve exactly the same customer. Foulkes did acknowledge that both rivals had done a “good job” with their first entrants into the world of New York City department stores.” Read more

 

…Helena Foulkes: ‘Barneys is an example of how tough it is out there’ at CNBC. “Foulkes: ‘People … loved Barneys. We hope very much to learn from what they loved about Barneys [to] help us build on our experiences themselves.’” Read more

 

Stitch Fix Is Diving Deep Into Data for a More Tailored Experience by Phil Wahba at Fortune. “Now Stitch Fix CEO Katrina Lake is laying the groundwork for her company’s next chapter. She wants to tap Stitch Fix’s data-crunching prowess to even more accurately predict what shoppers want to buy and keep, and to drum up more business between so-called fixes.” Read more

 

The Container Store Group Q2 comp sales +5.4% Press release

 

J&J’s own expert, working for FDA, found asbestos in Baby Powder by Chad Terhune & Lisa Girion at Reuters. “The private Maryland lab that found asbestos in Baby Powder under a contract with the FDA is run by a paid expert witness for J&J. Andreas Saldivar, laboratory director of AMA Analytical Services Inc, has served as a litigation expert on several occasions for J&J…” Read more

 

Big 5 Sporting Goods Q3 comp sales +0.3% Press release

 

Walmart and Green Dot Extend Relationship and Form Fintech Accelerator “Walmart and Green Dot have agreed to jointly establish a new fintech accelerator under the name “TailFin Labs, LLC,” with its mission to develop innovative products.” Press release

 

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Shopify Q3 revenue +45% Press release

 

El Paso Walmart offers glimpse at memorial for mass shooting victims, reopening pushed back to Nov. 14th by Aaron Montes at El Paso Times via USA Today. “Walmart also plans a memorial it calls “The Grand Candela,” which will emit a beam of light at the southern side of the property. It’ll be surrounded by decorative metal fencing to commemorate the events of Aug. 3. The attack resulted in the death of 22; 25 were injured during the shooting.” Read more

 

Gap’s new CMO on what’s hot in retail and the rise of the female CMO by Adrianne Pasquarelli at Ad Age. “One of Gap’s biggest goals, in addition to reconnecting with its core customer, is building new connections with younger generations, O’Hare says, noting that the group is “one of the most anxious and stressed out consumer bases” out there.” Tiered subs.

 

Puma sees basketball and retail stores as the ways to fuel its rapid growth at CNBC. “China is Puma’s number one priority, Petrick said. Asia is the company’s fastest growing region, with 28.5% sales growth in the third quarter.” Read more

 

Venmo’s debit card now gives you 5 percent cash back at Target, Sephora, and Wendy’s by Jay Peters at The Verge. Read more

 

It costs as much as $30 to park at the American Dream mall by Matt Arco at NJ Advance Media. “Gov. Phil Murphy is among the critics of the retail and entertainment complex’s paid parking plan, which he said Tuesday night is like “taking it through the nose.” Especially considering more than $1 billion in taxpayer money could be involved in helping American Dream.” Read more

 

Lululemon CEO: To really pop our menswear line, more men need to know we actually have one at CNBC. “We know our awareness and consideration within the men’s category is still low, and that is where the opportunity lies,” (CEO) McDonald said on “Halftime Report.” Read more/Video

 

Salvage shops offer sustainable decor with a story by Katherine Roth at AP. “Two of the hottest trends in home decor are sustainability and authenticity. No wonder architectural salvage shops are busy…“When you can point to your floor and say it came from an old shoe factory in Connecticut, for example, that’s a big attraction,” (publisher Rich Ellis) says. There are between 500 and 700 architectural salvage businesses across the country.” Read more

 

The $280 swim trunks Jeff Bezos wore this summer are now sold out basically everywhere by Rachel Tashijan at GQ. “He wore them over and over throughout his vacation, leading some outlets to wonder if he only had one pair of swim trunks—and a ton of people to hunt for the funky printed trunks.” Read more

 

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