Walmart Q2 US Comp +1.5% “Neighborhood Market comps increased approximately 7.3%…E-commerce sales globally increased approximately 16% on a constant currency basis.” Read the release

 

Walmart Cuts Guidance, Sending Shares Lower via CNBC. “The company posted earnings of $1.08 per share, down from $1.21 a share in the year-earlier period. Revenue edged up to $120.2 billion from $120.13 billion a year ago. Analysts had expected Wal-Mart to report earnings of $1.12 a share on $119.72 billion in revenue.” Read more

 

Home Depot Q2 Comp +4.2% (US +5.7%) “Home Depot raised its fiscal 2015 sales guidance and now expects sales will grow in a range of approximately 5.2 percent to 6.0 percent and comp sales will grow in a range of approximately 4.1 percent to 4.9 percent.” Read the release

 

CNBC: Home Depot Earnings Match Estimates, Revenue Beats “Revenue rose to $24.83 billion from $23.81 billion a year ago.” Read more

 

Dick’s Q2 Comp +1.2% “eCommerce penetration for the second quarter of 2015 was 7.3% of total net sales, compared to 6.3% during the second quarter of 2014. In the second quarter, the Company opened seven new DICK’S Sporting Goods stores, one new Field & Stream store and closed three Golf Galaxy stores.” Read more

 

Walgreens’ U.S. streamlining begins with 270 corporate layoffs by Brigid Sweeney at Crain’s Chicago Business. “The cuts “will allow us to reduce management layers, phase out certain functions and consolidate similar job functions,” Polzin wrote in an email. He said the IT department will be most affected.” Read more

 

1,000+ Vendors Attend Costco Classic and Help Raise $7.7 Million via Patti Payne at Puget Sound Business Journal. See the 9 pics

 

Target Elevates Mulligan, Hires Ex-Walmart Exec as CFO by Kavita Kumar at Star Tribune. “Target spokeswoman Katie Boylan noted that by splitting these two executive positions, Target is separating its merchants from its planners. “That’s meant to build deeper expertise and to allow them to clearly focus and to have greater accountability,” Boylan said.” Read more

 

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Cramer: JC Penney is about to smoke competition by Abigail Stevenson at CNBC. “Out of nowhere, J.C. Penney’s got its groove back; I think it is roiling all the other merchants out there,” the “Mad Money” host said.” Read more

 

The 10 states that spend the most money at Wal-Mart by Mallory Schlossberg at Business Insider.  See the top 10 list

 

CNBC loves what Kroger is doing to its rivals by Steve Watkins at Cincinnati Business Courier. “Eric Rosenbaum, a financial writer and editor for the cable network, asked in a recent article about consumer staples stocks, “What do you get when you cross Whole Foods and Wal-Mart?” His answer: Kroger. Rosenbaum wrote that Wal-Mart and Whole Foods have been “crushed” so far this year.” Read more

 

U.S. Postal Service Tries Hand as Grocer by Laura Stevens at WSJ. “One of her first legislative pushes will be to gain congressional approval for shipping alcohol, she said…One of the legislators said the move could provide the Postal Service with an additional $50 million annually.” Read more (Subscription)

 

Zulily assures employees that QVC sale is about growth, not layoffs or cost savings by Tricia Duryee at GeekWire. “This acquisition is not about cost savings,” said Zulily CEO Darrell Cavens, in a message sent to employees today. “This is an opportunity for growth.” Read more

 

Petco files to go public by Dan Primack at Fortune. “…the pet supply retailer’s third IPO in the past 11 years. The San Diego-based company said that it plans to raise $100 million, although that almost certainly is a placeholder figure that will rise in subsequent filings.” Read more

 

True Value Q2 Retail Comp Sales +3.5% Read the release

 

Wendy’s Three Year Hunt for Blackberries by Julie Jargon at WSJ. “It’s been a slow, painful journey for us,” said Dave Kourie, who heads procurement for Wendy’s. “We spent 14 months scavenging around the industry, looking at more suppliers than we ever have.” Read more (Subscription)

 

Tipsheet Extra

Hawaii: Walmart and Sam’s Club donate $163K to Kapiolani Medical Center

47% say they start thinking about what they’ll purchase this holiday season before November

Best Buy Launches Geek Squad Academy Nationwide

Kohl’s Debuts Exclusive Collection to Jumpstart New York Fashion Week

Read Tipsheet Extra Stories

 

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Eye-on-Retail Tipsheet is created early every weekday morning and read by retail merchants and executives worldwide. We love data, earnings reports, executive presentations and stories off the beaten path that get at what’s really happening in the world of retail. See our website at www.eyeonretail.net