Marc Lore: I am ‘absolutely not’ leaving Walmart at CNBC. “If anything, trust is building more between me and Doug [McMillon] and the board, and we have a lot of work to do and a lot of things to be really excited about in the future,” Lore told CNBC on Wednesday.” Read more

 

Walmart launches a new home shopping site for furniture and home décor by Sarah Perez at TechCrunch. “The new site’s home page will feature curated collections across nine style categories, including modern, mid-century, traditional, glam, industrial, bohemian, farmhouse, transitional and Scandinavian.” Read more

 

Toys “R” Us Plans to Close Another 200 Stores by Lillian Rizzo & Paul Ziobro at Wall Street Journal. “(Toys “R” Us) recently had announced plans to close about 180 stores, affecting approximately 4,500 workers. The latest wave of closings would cut nearly in half the number of U.S. stores it had before its bankruptcy filing, the people said.” Read more (subs.)

 

…Toys R Us is in danger of breaching a covenant with its lenders at CNBC. “If Toys R Us does breach the covenant, its DIP lenders have the option to force it to immediately pay them back, which could in turn force the retailer into liquidation.” Read more

 

…Investors to Target – Hold Your Horses at Reuters. “We do not believe Target should invest more in selling national brand toys, and Target’s toys business is not core to our investment thesis,” said Jack Leslie, a portfolio manager for Miller/Howard Investments Portfolio, who holds a $96 million stake in Target.” Read more

 

Why is a Target store in San Francisco keeping tents behind locked cases? by Melia Robinson at Business Insider. “The Target Metreon store is located in a neighborhood that’s close to the Civic Center and the Tenderloin — where needles, garbage, and feces are found in concentrations comparable to some of the world’s poorest slums, according to a report from NBC Bay Area. People on Twitter quickly came to the conclusion that the tents at Target were being locked up because homeless people might be stealing them as a last resort for shelter.” Read more

 

Wayfair Q4 Direct Retail net revenue +48% Press release

 

**A message from ReadyStrainer – Sink full of dirty dishes and need to drain noodles? The ReadyStrainer sits at the side of the sink and directs water into the sink! Avoid contact with dirty dishes and bacteria. Product Overview | Website | Sample: info@eyeonretail.net

 

Tops blames Amazon as it files for bankruptcy via NY Post. “Tops said it expects the 169 stores it operates in upstate New York, Pennsylvania and Vermont to remain open while it restructures under Chapter 11 of the US bankruptcy code in White Plains, New York.” Read more | Press release

 

EBay hires former Disney comms exec Brian Nelson as VP of Americas communications by Diana Bradley at PR Week. Read more (tiered subs.)

 

Lowe’s takes another step to win workers in a tight labor market at CNBC. “The platform will offer employees financial assistance to pursue certification for a specific trade skill, such as carpentry, heating and air conditioning, electrical, plumbing and appliance repair. Eligible employees will receive up to $2,500 to complete their education via a partnership with Guild Education.” Read more

 

Venezuelans lost 24-lbs on average last year as hunger spread at Reuters. Read more

 

Despite bread price-fixing scheme, Canadians mostly happy with grocery stores, survey finds via Toronto Star. “Three Loblaw Companies Ltd. banners — No Frills, Loblaws and the Real Canadian Superstore — received the lowest scores of the 10 grocery retailers included in the survey.” Read more

 

Soon available at Walmart, Harry’s is giving Gillette a run for its money at Fast Company. Read more

 

Sarah Jessica Parker Launches Children’s Line with Gap at People. “One standout item from the collab includes a light blue bomber jacket with “Rabbit, Rabbit” stitched on the back, a saying that Parker’s family members would tell one another every month as a “sign of good luck.” Read more

 

SpartanNash Q4 net sales +5.3% Press release

 

Baltimore retailers scared as robberies soar at Baltimore Sun. “While the three-year spike in violent crime in Baltimore draws most of the attention, business owners across the city have suffered a similar increase in commercial robberies. Such crime has risen 88 percent in the last five years.” Read more

 

Costco confirms self-service snack kiosks in four stores by Coral Garnick at Puget Sound Business Journal. “The kiosks are currently located in Covington, Washington, as well as two Los Angeles-area warehouses and one in Tucson, Arizona.” Read more

 

Bill Gates appears on Ellen, badly flunks grocery price quiz by John Cook at GeekWire. “On the next product, Tide Pods, Gates fared even worse, guessing $4. “They want me to go higher,” said Gates after the audience reacted. Let’s go with $10, said Gates before the $19.97 price was revealed.” Video/Read more

 

Tipsheet Extra Stories

As Trump trashes NAFTA, Mexico turns to Brazilian corn

Amazon Just Launched a ‘Plants Store’

Did Putin’s trolls create fake news about poisoned Walmart turkey?

Express Scripts, Walgreens expand group purchasing efforts

Amazon is now worth more than 2.5 Walmarts

Lesbians who fought gender bias at Home Depot honored

Canada Competition Bureau reaches settlement with retailer’s ‘buy now, pay later’ promotion

Read Tipsheet Extra Stories

 

**

Eye on Retail Tipsheet is must-read material for retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.

 

Subscribe to Eye on Retail Tipsheet here

 

Contact us: Send story tips, press releases and advertising inquiries to info@eyeonretail.net

 

Website: www.eyeonretail.net