“Sun Tzu at Sears: Managers Go to War With Each Other” by Mina Kimes at Businessweek.  “The divisions turned against each other—and Sears and Kmart, the overarching brands, suffered. Interviews with more than 40 former executives, many of whom sat at the highest levels of the company, paint a picture of a business that’s ravaged by infighting as its divisions battle over fewer resources…the model created a “warring tribes” culture. “If you were in a different business unit, we were in two competing companies.”  Read more:  https://www.businessweek.com/articles/2013-07-11/at-sears-eddie-lamperts-warring-divisions-model-adds-to-the-troubles#p1

 

“Online merchants buying into retail storefronts” by Debra Bass at StL Post Dispatch via Seattle Times.  “E-commerce sales in the first quarter of 2013 accounted for just 5.5 percent of total sales in the U.S…That’s not insignificant; it’s still a whopping $58 billion, which is $8 billion more than the same period last year. But with 94.5 percent of the market still out there, it’s no wonder Google, the most successful online channel on the planet, is looking to open retail stores.”  Read more:  https://seattletimes.com/html/businesstechnology/2021376774_offlineretailersxml.html

 

“Costco June Same-Store Sales Beat Estimates” at CNBC.  “”We get no sense from the company’s results that it is feeling any macroeconomic pressure at all,” said Cowen & Co. analyst Faye Landes…Sterne Agee analyst Charles Grom said the higher-than-expected sales came despite extreme heat on the West Coast, which has kept shoppers away in the past. Visits to Costco’s warehouses remained strong, with traffic up nearly 5 percent.”  Read more:  https://www.cnbc.com/id/100878850

 

“RadioShack Considers Hiring Adviser, Shares Slip” at Fox Business.  “RadioShack Corp shares fell 18 percent on Thursday after a report that the electronics chain is considering hiring a financial adviser to help fix its balance sheet.  Citing unnamed sources, trade publication Debtwire reported that RadioShack plans to entertain pitches for a financial adviser in the coming weeks to explore a balance sheet fix.”  Read more:  https://www.foxbusiness.com/investing/2013/07/11/report-radioshack-considers-hiring-adviser-shares-slip/

 

 “Wegmans cuts health benefits for part-time workers” by Samantha Christmann at Buffalo News.  “Until recently, the company voluntarily offered health insurance to employees who worked 20 hours per week or more. Companies are required by law to offer health insurance only to full-time employees who work 30 hours or more per week.”  Read more:  https://www.buffalonews.com/apps/pbcs.dll/article?AID=/20130710/BUSINESS/130719892/1010

 

“Royal baby to push Brit economy up by $375 Million” by Kristina Knight at Biz Report.  “The Centre for Retail Research suggests the royal-we-haven’t-met could push the British economy up by at least $375 million – souvenirs, alcohol and food purchases will drive the spending. Their report suggests souvenirs like Union Jack booties and baby sleepers as well as food ($39 million estimated spending) and other party preps will be a boon to the struggling UK economy.”  Read more:  https://www.bizreport.com/2013/06/royal-baby-to-push-brit-economy-up.html

 

“Hi-tech Plan to Make Shopping Less Annoying for Men” by Erin Barry at Yahoo Finance.  “Start-up Proper Suit doesn’t want men to ever have to suit shop again.  “[The Proper Suit] mission is simple: make the highest quality, best-fitting suits on the market for a really awesome low price. Guys hate to shop, so we have catered our company to make it fun and easy.”  “We circumvent traditional retail by manufacturing the garments ourselves so we leave all the money in the product,” said Madden.”  Read more:  https://finance.yahoo.com/blogs/power-pitch/hi-tech-plan-shopping-less-annoying-men-124742320.html

 

“Two-Thirds of Apple’s Apps Receiving Little or No Downloads” by Matt Clinch at CNBC.  “Apple calls it the “world’s largest app marketplace” offering over 900,000 apps for iPad, iPod and iPhone including games, tools and social media platforms. But new research by Adeven shows that 579,001 apps in a watched database of 888,856 are “zombies”.”  Read more:  https://www.cnbc.com/id/100875687

 

“Lowe’s Donates $1 Million to Boys & Girls Clubs of America” at WSJ.  “The Boys & Girls Clubs of America today announced Lowe’s donation of $1 million to refurbish Clubs across the country. Lowe’s grants of up to $50,000 will fund repairs and renovations at 20 Boys & Girls Clubs, from northern Washington state to South Florida.”  Read more:  https://online.wsj.com/article/PR-CO-20130710-907400.html?mod=googlenews_wsj

 

Thanks for reading…have a great weekend!

 

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