Gap Inc. Q2 comp sales: Old Navy Global -5.0% / Gap Global -7.0% / Banana Republic Global -3.0% Press release

 

…Gap’s second-quarter sales fall short of estimates, CEO calls out ‘challenging environment’ at CNBC. “Net income fell to $168 million, or 44 cents per share, from $297 million, or 76 cents a share, a year ago.” Read more

 

Foot Locker Q2 comp sales +0.8% (vs. +3.3% expected) at Investor’s Business Daily. Read more

 

Breach at Hy-Vee Supermarket Chain Tied to Sale of 5M+ Stolen Credit, Debit Cards at Krebs on Security. “According to two sources who asked not to be identified for this story — including one at a major U.S. financial institution — the card data stolen from Hy-Vee is now being sold under the code name “Solar Energy,” at the infamous Joker’s Stash carding bazaar.” Read more

 

Hibbett Sports Q2 comp sales +0.3% Press release

 

‘We’ll Let You Know’: Dick’s Sporting Goods Remains Quiet on Future of Gun Sales by Chris Morris at Fortune. “Edward W. Stack, chairman and chief executive officer at Dick’s, noted “continued deterioration in hunt and firearms business,” but did not announce an expansion of the ongoing experiment, which has seen guns removed from 125 stores to date.” Read more

 

Dick’s Sporting Goods Q2 Earnings Call Transcript Seeking Alpha

 

The Buckle Q2 comp sales +1.8% Press release

 

Amazon to acquire minority stake in an Indian supermarket chain operator at Reuters. “Amazon.com Inc is set to snag a 3.58% minority stake in India’s Future Retail, which operates more than 1,500 stores in India and owns several supermarket brands, including budget department and grocery store chain, Big Bazaar.” Read more

 

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The Exclusive Inside Story Of The Fall Of Overstock’s Mad King, Patrick Byrne by Lauren Debter at Forbes. Read more

 

Target has opened 100 mini stores and remodeled 500 bigger ones at CNBC. “Target also says it’s still on pace to open 30 small-format stores across the country each year. The company expects to complete 300 additional store remodelings in 2020, putting it on track to remodel at least 1,000 locations out of its fleet of more than 1,800.” Read more

 

Nordstrom Names Teri Bariquit As Chief Merchandising Officer Press release

 

Ikea is quietly changing its brand again—for a very good reason by Katharine Schwab at Fast Company. “Noto is considered the most universal typeface in existence…Noto is short for “No Tofu,” providing visual representations of every letter of all of the 800 languages. It’s part of Google’s goal to make a font available for every language that is considered a script by Unicode..” Read more

 

Ross Stores Q2 comp sales +3.0% Press release

 

DoorDash says it’ll start paying driver tips next month at The Verge. “…all drivers will receive 100 percent of the tip amount a customer adds through the DoorDash app either at checkout or after delivery. Drivers will be informed of this total and the breakdown before they decide to accept an order. DoorDash is also pledging to increase base pay earnings across the board for all drivers.” Read more

 

Hasbro scoops up Peppa Pig owner for $4 billion at CNN. Read more

 

Research Says Brand Mascots Really Do Move the Needle by Minda Smiley at Adweek. “The study, which used data from the Institute of Practitioners in Advertising (a U.K. trade body that represents agencies) collected 2017-18, found that campaigns including a mascot are 37% more likely to increase market share than ones without.” Subs./Registration

 

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Read Tipsheet Extra Stories

 

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