Home Depot CEO on CNBC: Millennials  appear to be on a six-year delayed cycle in terms of household formation “Over the past several quarters, about 35 percent of new household formation has come from the tail end of millennials as it relates to homes (Menear) said.” See the video interview / Read more

 

Sam’s Club CEO Sits at Head Table with Obamas during Singapore state dinner via U.S. News & World Report. “Among those at the head table with the Obamas and Lees were actors Matthew Rhys and Keri Russell, author Amy Tan, former Rep. Gabrielle Giffords, D-Ariz., and her husband, retired Navy Capt. Mark Kelly, Sam’s Club President and CEO Rosalind Brewer, and Caterpillar Inc., chairman and CEO Douglas Oberhelman.” Read more

 

…Complete guest list for the State Dinner in honor of Prime Minister Lee Hsien Loong of Singapore by Veronica Toney at The Washington Post. “Rosalind Brewer, Sam’s Club chief executive, and John Brewer…Stefano Pessina, Walgreens Boots Alliance chief executive, and Ornella Barra…” See the full list

 

Judge refuses $2.85 million in bonuses for executives at Sports Authority by Tom Hals at Reuters. “I think it’s just inappropriate to pay senior executives a bonus when all the employees are losing their jobs,” said Judge Mary Walrath during a hearing in Wilmington, Delaware.” Read more

 

Tracy Morgan Auto Crash Has Walmart, Insurers Navigating Courts Over Huge Settlement by Eriq Gardner at Hollywood Reporter. “…would seem to suggest that Walmart paid at least $90 million to Morgan and Fuqua to put the controversy to bed…On Wednesday, U.S. District Judge Louis Goodman is scheduled to have a teleconference with the parties to go over pending motions, documents being sought, deadlines and a possible motion by the insurers to throw it back to a state court.” Read more

 

Seattle: Petco unleashes new store design in Seattle by Janet I. Tu at Seattle Times. “Among the new features: A concierge desk where customers can get advice on pet nutrition or training…a demonstration area where customers can sample new products; and a “Critter Connection” area where customers can play with their pets and test supplies.” Read more

 

Neiman Marcus CEO Karen Katz debunks rumor she’s stepping down by Maria Halkias at The Dallas Morning News. “(Karen) Katz was in New York for the fashion industry’s ACE Awards…Katz cleverly asked the crowd how they liked her MCM backpack and then dropped her bomb: “It doesn’t mean that I am packing up and going anywhere, unlike the rumors out there.” Read more

 

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Some of Best Buy’s Samsung mini-shops are closing, others expanding by Kavita Kumar at Star Tribune. “About 160 of the stores-within-a-store that display Samsung smartphones, tablets and wearable tech are closing, while about 250 are being expanded.” Read more

 

Smartphone Codes on Food Labels Face Skepticism by Heather Haddon at WSJ. “If nutrition labels require a smartphone app to unlock, will consumers read them? That is the conundrum dividing healthy food advocates and some food manufacturers, who intend to use so-called QR codes in part to comply with new federal label requirements…”  Read more (subscription)

 

Target’s Tech For Tots Aisle: Sure To Be A Guilty Parenting Hotspot by Steven Melendez at Fast Company. “Today, Target is introducing a Connected Nursery section at about 450 of its stores across the country. The aisle will feature products from startups and established tech companies…” Read more

 

Etsy Reports 39% Revenue Growth in Q2 2016 Press release

 

DSW gambles with kids department expansion by Lisa Fickenscher at NY Post. “The 482-store chain has been quietly rolling out kids departments in its stores over the past couple of months and is expected to make a splashy announcement on Wednesday.” Read more

 

CommerceHub reaches deal with BJ’s Wholesale Club by Marie J. French at Albany Business Review. Read more

 

Millennials drive grocers like Publix and Winn-Dixie to feature food produced around Tampa Bay by Alli Knothe at Tampa Bay Times. “For two years, Winn-Dixie sold Mike’s Pies under the grocer’s label. The pies sold well. But this year the supermarket changed its mind: Mike’s Pies would be sold as Mike’s Pies…Sales are up 57 percent for the company, which employes 64 people locally and makes up to 30,000 pies a week.” Read more

 

Wegmans will open its 90th store at 7 a.m. Sunday, Aug. 7. in Short Pump, Virginia via The Democrat & Chronicle. Read more

 

Rite Aid CEO named Director at CarMax Press release

 

Is Office Depot Falling Apart? It Will Now Close Hundreds More Stores by Brian Sozzi at The Street. “Over the next three years, Office Depot said it will shutter 300 stores. Since 2014, Office Depot has closed about 400 stores.” Read more

 

Tipsheet Extra Stories

Gap Is Accused of Sexist Email Campaign in U.K.

Sports Authority ‘in breach’ of naming-rights contract at Broncos stadium

Cumberland Farms expansion plan includes tearing down 137 year old building

Hannaford supermarket sells $487 million Powerball ticket

Amazon goes nuts with latest expansion of its private-label foods

Three Kroger stores mistakenly charged extra 1 percent sales tax

Study: a stores losses more than double when self-service technology is used

Read Tipsheet Extra Stories

 

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