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target.....pdf
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
Page 1 of 43http://fortune.com/company/zumz/news/u-s-retailers-june-same-store-sales-review/
Target Corp. TGT NYSE July 11, 4:02 PM ET
60.00 +0.07 (+0.12%)
-5.17% Year-to-Date
FORTUNE
/ 5 0 03 6 RANKING
TGTTGT
1d1d 5d5d 1m1m 6m6m 1y1y 5y5y 10y10y
(/fortune500/2014/target-corporation-36)
Previous Close 59.93
Open 59.96
Volume 3,109,282
Mkt Cap 37.98 B
Avg Vol 4,664,020
1Y Target 59.47
Beta 0.61
Next Earnings Date 08/20/2014
High 60.05
Low 59.65
52 Wk High 73.50
52 Wk Low 54.66
P/E 20.25
EPS 2.96
Dividend Yield 3.47
8:00am 9. Jul 10. Jul 11. Jul 12:00pm
59.8
60
60.2
JULY 10, 2014
U.S. retailers' June same-store sales review
JULY 9, 2014
The Container Store is not immune to the retail ‘funk’
JULY 3, 2014
PRESS DIGEST- New York Times business news - July 3
JULY 2, 2014
Target 'respectfully' asks customers to keep their guns out of stores
JULY 2, 2014
Target asks its customers to keep their guns out of stores
TGT
Quotes, Companies, Keywords !
MENU " TARGET CORP.
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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Company Profile
Target Corp is engaged in operating general merchandise discount stores in the
United States.
Executive Leadership Mr. John J. Mulligan Age: 48 2013 Salary: $700.00 K Executive Vice President, Chief Financial Officer and... Jeffrey J. Jones, II Age: 46 2013 Salary: $700.00 K Executive Vice President and Chief Marketing Officer Douglas M. Baker,Jr Age: 55 Salary: n/a Independent Director Kenneth L. Salazar Age: 59 Salary: n/a Independent Director Ms. Anne M. Mulcahy Age: 61 Salary: n/a Independent Director
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U.S. retailers' June same-store sales review by Reuters JULY 10, 2014, 6:16 PM EDT #
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
Page 3 of 43http://fortune.com/company/zumz/news/u-s-retailers-june-same-store-sales-review/
Reprint
July 10 (Reuters) – Click on the
attached link for a Thomson
Reuters report that reviews June
same-store sales by U.S.
retailers.
http://tmsnrt.rs/1ncgRHJ
(Bangalore Newsroom +91 80 6749
1130; within U.S. +1 646 223
8780)
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RETAIL SALES
The Container Store is not immune to the retail ‘funk’ by Laura Lorenzetti @lauralorenzetti JULY 9, 2014, 10:56 AM EDT #
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
Page 4 of 43http://fortune.com/company/zumz/news/u-s-retailers-june-same-store-sales-review/
Company’s CEO says wide- reaching retail slump is caused by more than weather and calendar problems.
The Container Store ( TCS -1.34% )
reported its first quarterly decline in
comparable store sales after a streak of
15 quarterly gains, the
company announced Tuesday.
“Consistent with so many of our fellow
retailers, we are experiencing a retail
‘funk,’” Kip Tindell, Container Store’s
chairman and CEO, said in a release.
Comparable store sales declined 0.8%
in the company’s fiscal first quarter,
while net sales were up 8.6% year-
over-year to $173.4 million.
Many retailers, including Wal-Mart
( WMT -0.31% ) and Target
( TGT 0.12% ), have acknowledged
that shoppers’ changing spending
habits have taken a toll on sales, as
consumer caution lingers from the
financial crisis.
The Container Store, even though it
The Container Store.
Jin Lee/Bloomberg—Getty Images
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7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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The Container Store, even though it
touts a higher-income shopper, isn’t
immune. The seller of storage and
organization items acknowledged that
it can no longer blame the weather or
calendar shifts for the consumer’s
tightened spending.
“We’ve come to realize it’s more than
weather and calendar,” said Tindell.
“Most segments of retail are, like us,
seeing more challenging sales than we
had hoped early in 2014.”
The Container Store plans to increase
its store square footage by 12% over
2014. It opened three stores during
the first quarter and has another
five slated to open this fiscal year.
The additional stores will add to the
company’s expected fiscal 2014 sales of
between $820 million and $830
million. Comparable-store sales are
expected to increase 1.5% to 2.5% over
the same period.
GM, Chrysler report their best June sales since the financial crisis
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7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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PRESS DIGEST- New York Times business news - July 3 by Reuters JULY 3, 2014, 1:06 AM EDT #
July 3 (Reuters) – The following are
the top stories on the
New York Times business pages.
Reuters has not verified these
stories and does not vouch for their
accuracy.
* Standard General, a little-known
hedge fund backing Dov
Charney, the ousted executive of
American Apparel, is in
talks with the company’s board over
the possibility of bringing
in new leadership, including a cadre of
experienced board
members, while keeping the
company’s signature manufacturing in
the United States.
(http://nyti.ms/1z9cI12)
* Privacy and Civil Liberties Oversight
Board, the federal
privacy board that sharply criticized
the collection of the
phone records of Americans by the
National Security Agency, has
concluded that the surveillance
program is largely in compliance
with both the Constitution and a
surveillance law that Congress
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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surveillance law that Congress
passed six years ago.
(http://nyti.ms/1s0Jcpt)
* Security researchers at the RSA
Security division of the
EMC Corp have uncovered what they
believe is a
significant cyber-crime operation in
Brazil that took aim at
$3.75 billion in transactions by
Brazilians. (http://nyti.ms/1iYg9Tn)
* Venture capitalist Tim Draper,
winner of the government
auction of nearly 30,000 Bitcoins on
Friday, intends to make the
coins available for use in emerging
markets via a partnership
with the Bitcoin exchange start-up
Vaurum. (http://nyti.ms/1mmAkei)
* The Weinstein Company, best known
for its Oscar-winning
film operation, is exploring plans to
spin off its TV division
into a separate company that could be
sold to a strategic
partner or taken public.
(http://nyti.ms/1iYgF41)
* Federal auto regulators, criticized
recently for not
acting aggressively enough on safety
issues, turned some of
their fire on Chrysler on Wednesday,
saying in a harshly worded
letter that the automaker was taking
too long to repair 1.6
million recalled Jeep sport utility
vehicles. (http://nyti.ms/1oqkA8K)
* Target is “respectfully” asking its
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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Reprint
customers to
not bring firearms into its stores, even
where it is allowed by
law. Molly Snyder, a Target
spokeswoman, said that Target’s move
was a “request and not a prohibition.”
(http://nyti.ms/1masx1n)
* The Wall Street Journal has cut
between 20 and 40 staff
members in recent weeks, according to
people with knowledge of
the matter, as part of a re-evaluation of
its newsroom that came
at the end of its financial year.
(http://nyti.ms/VfVwY7)
* China said it would permit banks to
set their own exchange
rates for the renminbi against the
dollar in deals with clients,
in a step to relax controls to make the
currency more
market-driven.
(http://nyti.ms/1iZgK71)
(Compiled by Ankush Sharma in
Bangalore)
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Target 'respectfully'
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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asks customers to keep their guns out of stores by Reuters JULY 2, 2014, 5:26 PM EDT #
By Lisa Maria Garza
DALLAS, July 2 (Reuters) – U.S.
retailer Target on Wednesday
asked shoppers not to bring guns to its
stores after protests
against a gun-rights campaign in
Texas where customers
brandished firearms in store aisles.
“Starting today we will … respectfully
request that guests
not bring firearms to Target – even in
communities where it is
permitted by law,” Target chief
executive John Mulligan
said in a posting on its website.
“This is a complicated issue, but it
boils down to a simple
belief: Bringing firearms to Target
creates an environment that
is at odds with the family-friendly
shopping and work experience
we strive to create,” said Mulligan.
Groups advocating the unlicensed,
open carrying of handguns
have taken rifles and shotguns to
restaurants and retailers
mostly in Texas to draw attention to
their cause, pointing to
Texas laws that permit their actions.
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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An advocacy group called Moms
Demand Action for Gun Sense in
America waged a social media
campaign to boycott Target after
photos circulated of open carry group
members in Texas walking
through stores with rifles and
shotguns over their shoulders.
“Moms everywhere were horrified to
see images of people
carrying loaded assault rifles down the
same aisles where we
shop for diapers and toys,” founder
Shannon Watts said in a
statement.
Open Carry Tarrant County, a gun
rights group in the Fort
Worth area behind campaigns that
have drawn some of the most
attention, said on Wednesday
members will continue to exercise
their right to carry weapons in public.
The group has parted ways with Open
Carry Texas after
disagreeing with the statewide group’s
call to members to stop
carrying long guns in restaurants.
“They just want to shut up the cry
babies who support more
victims for criminals. The Unarmed!,”
Open Carry Tarrant County
group said on a Facebook posting.
The National Rifle Association has
weighed in on the debate,
saying in a statement about a month
ago that these sorts of
open-carry tactics were “foolish,”
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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open-carry tactics were “foolish,”
“counterproductive” and
“downright scary”.
The powerful gun lobby group was
severely criticized by open
carry activists for its position and a
few days later, it backed
away, saying the statement was a
mistake made by a staff member
who had a poor choice of words,
adding it supported open carry.
.
A number of national eateries,
including Chipotle Mexican
Grill Inc, Sonic Drive-In, Chili’s Grill
& Bar and Jack in the
Box Inc have also asked patrons to
keep their firearms at home.
Top retailer Wal-Mart said it abides by
the laws regarding
open carry based on where its outlets
are located.
(Writing by Jon Herskovitz; Editing by
Jim Loney and Cynthia
Osterman)
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Target asks its customers to keep their guns out of stores by Reuters JULY 2, 2014, 12:37 PM EDT #
By Lisa Maria Garza
DALLAS, July 2 (Reuters) – U.S. retail
giant Target has
asked people to keep guns out of its
stores after being the
subject of campaigns in Texas where
people have brandished
firearms in store aisles in their attempt
to secure more rights
to carry guns in public.
“Starting today we will … respectfully
request that guests
not bring firearms to Target – even in
communities where it is
permitted by law,” Target chief
executive John Mulligan
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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executive John Mulligan
said in a posting on its website on
Wednesday.
Groups advocating the unlicensed,
open carrying of handguns,
have taken rifles and shotguns to
restaurants and retailers for
campaigns to build support for their
cause, pointing to laws in
places like Texas that allow for the
unlicensed, open carrying
of long guns.
“This is a complicated issue, but it
boils down to a simple
belief: Bringing firearms to Target
creates an environment that
is at odds with the family-friendly
shopping and work experience
we strive to create,” said Mulligan.
A number of national eateries,
including Chipotle Mexican
Grill Inc, Sonic Drive-In, Chili’s Grill
& Bar and Jack in the
Box Inc have also asked patrons to
keep their firearms at home.
An advocacy group called Moms
Demand Action for Gun Sense in
America waged a social media
campaign to boycott Target after
photos circulated of members of open
carry groups in Texas
walking through stores with rifles and
shotguns slung over their
shoulders.
“Moms everywhere were horrified to
see images of people
carrying loaded assault rifles down the
same aisles where we
shop for diapers and toys,” founder
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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Reprint
shop for diapers and toys,” founder
Shannon Watts said in a
statement.
Open Carry Tarrant County, a gun
rights group behind
campaigns that have drawn some of
the most attention, said on
Wednesday members will continue to
exercise their right to carry
weapons in public.
“They just want to shut up the cry
babies who support more
victims for criminals. The Unarmed!,”
the group said on
Facebook posting.
(Reporting by Jon Herskovitz; Editing
by Jim Loney)
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RETAIL OPEN CARRY
Target asks shoppers not to bring in firearms, but stops short of ban by Phil Wahba @philwahba JULY 2, 2014, 12:22 PM EDT #
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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Retail chain posts request on company blog.
A few weeks after photos of shoppers
toting semi-automatic assault rifles in
the baby aisle of a Target
( TGT 0.12% ) store created a storm
of controversy on the web, the
discount retailer has asked its
customers not to bring firearms into
its storms, even if local “open carry”
laws allow it.
While Target stopped short of banning
the practice, it joined such chains as
Starbucks ( SBUX -0.32% ), Chipotle
( CMG -0.35% ) and Jack in the Box
in making such a request of
their customers.
For retailers and restaurants, taking
any stand on the hot-button issue of
gun control is fraught with risk: they
can easily offend a big part of their
clientele, but at the same time, the
sight of rifle-toting men can unnerve
other customers.
Target has found itself increasingly at
Alex Wong—Getty Images
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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the center of the controversy,
especially after a loaded gun was
found in the toy section of a Target in
South Carolina. In recent months,
members of the group Open Carry
Texas have turned up armed at Target
stores regularly to exercise their right
to carry rifles openly in public,
creating pictures that made the rounds
on the internet and proved
embarrassing for the company. The
National Rifle Association, a gun
owners rights group, criticized the
tactics used by the open carry groups
before backtracking in the face of a
membership backlash.
In a blog post published on
Wednesday, Target interim CEO John
Mulligan said the company respected
“protected rights” but said Target’s
goal is to have a safe environment for
both its customers and its staff.
“This is a complicated issue, but it
boils down to a simple belief: Bringing
firearms to Target creates an
environment that is at odds with the
family-friendly shopping and work
experience we strive to create,”
Mulligan wrote in the blog post.
Target spokeswoman Molly Snyder
said that because this is a request and
not a ban, the company had no plans
to publicize its request, which it is only
making via the blog, likely limiting
how many customers will be aware of
it.
Moms Demand Action, an advocacy
group that had been severely critical of
Target for allowing customers armed
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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Target for allowing customers armed
with firearms into its stores, praised
the company on Twitter:
.@MomsDemand Applauds
@Target for Asking
Customers to Leave Their
Guns at Home:
every.tw/1mTNXR5
#BackOnTarget
http://t.co/mq2ASxE7MM—
Moms Demand Action
(@MomsDemand) July 02,
2014
Other large retailers like Home Depot
( HD 0.26% ) and Wal-Mart Stores,
( WMT -0.31% ) which is the single
largest seller of firearms in the U.S.,
defer to local laws and allow
customers legally permitted to carry
firearms to do so when entering their
stores.
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7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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PRESS DIGEST- Canada - July 2 by Reuters JULY 2, 2014, 6:47 AM EDT #
July 2 (Reuters) – The following are
the top stories from
selected Canadian newspapers.
Reuters has not verified these
stories and does not vouch for their
accuracy.
THE GLOBE AND MAIL
** Unless Canada makes a lot more
contributions to the
International Space Station, it could
be a while before another
Canadian astronaut visits the giant
orbiting space laboratory.
For the moment, what’s clear is that no
Canadians will be
heading up to the space station before
2017. (http://bit.ly/1iXcBAK)
** An Amber Alert remained in effect
across Alberta on
Canada Day as police continued to
search for leads in the
perplexing disappearance of a five-
year-old boy and his
grandparents. Nathan O’Brien was
reported missing Monday morning
when his mother went to pick him up
after a sleep-over at the
grandparents’ southwest Calgary
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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grandparents’ southwest Calgary
home and they weren’t there.
(http://bit.ly/1jIT8i4)
Reports in the business section:
** Canadian retailers are bracing for a
fashion fight this
fall. Wal-Mart Canada Corp is
stepping up its focus on
styles of the season at lower price
points in a bid to raise the
profile of its key George line. At the
same time, Target Corp
is intent on repositioning its sweet
spot of affordable
trendy fashions. Canadian grocer
Loblaw Cos Ltd is looking to
expand its Joe Fresh styles beyond
North America in its bid to
woo price-conscious fashionistas.
(http://bit.ly/1vvuOFG)
NATIONAL POST
** More than 150 acute care patients
and long-term residents
have been moved from a hospital in
eastern Saskatchewan because
of flooding. The full-scale evacuation
at St. Peter’s Hospital
in the city of Melville, about 145
kilometers northeast of
Regina, took place because a creek
behind the facility was
rising on Tuesday.
(http://bit.ly/1o1ilpo)
** A seven-year-old girl was airlifted to
hospital with a
“serious leg injury” after being struck
by a boat in Lake
Rosseau, Ontario Provincial Police
said. (http://bit.ly/1xfNmg0)
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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said. (http://bit.ly/1xfNmg0)
FINANCIAL POST
** Having dumped the lowly penny,
the Royal Canadian Mint is
planning to create two high-value
coins that won’t appear in any
change handed out at the local Tim
Hortons. A recent cabinet
order authorizes the mint to produce
two coins with face values
of $1,000 and $1,250, destined for
collectors rather than
pockets or purses.
(http://bit.ly/1lSoU0O)
** Toronto-based Globe and Mail
newspaper’s reporters appear
to be preparing to launch a competing
online publication to add
leverage in their standoff with
management. Leaders of The
Globe’s workers’ union, Unifor Local
87-M, have recommended the
rejection of management’s latest
contract offer, which is
scheduled to go to a vote on
Wednesday afternoon.
(http://bit.ly/TOki0g)
(Compiled by Ankush Sharma in
Bangalore)
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RETAIL NATIONAL RETAIL FEDERATION
Amazon ranks among retail's 10 biggest companies for the first time by Phil Wahba @philwahba JULY 1, 2014, 4:50 PM EDT #
Amazon’s U.S. sales came to $44 billion last year, placing it in the top 10 US retailers.
After years of stealing market share
from its brick-and-mortar brethren,
Amazon ( AMZN ) is finally among
the 10 largest retailers according to
ranking released on Tuesday by Stores
Magazine. It is the first time a pure-
play e-commerce company joins the
very upper echelons of the hit parade.
Amazon’s U.S. retail sales rose 27.2%
to $43.96 billion, helping the online
retailer land at No. 9, up from No. 11
last year, according to data compiled
by Kantar Retail for Stores, a National
Retail Federation publication. Despite
Kyle Bean for Fortune
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Retail Federation publication. Despite
the heavy investments and some
progress on the e-commerce front by
other retailers, Amazon still outpaced
its rivals: overall e-commerce grew
17% last year, according to e-Marketer.
Amazon’s $9.6 billion increase in U.S.
retail sales was more than the entire
haul of companies such as Victoria’s
Secret parent L Brands ( LTD ) and
Staples ( SPLS ).
Still, e-commerce saved the day, or at
least mitigated big store sales
declined, for several bricks and mortar
chains. Best Buy’s ( BBY ) overall
sales fell 1.2% so it’s frightening to
think what would have happened to
the electronics retailer were it not for a
20% jump in online sales. Ditto for
Nordstrom, ( JWN ) which reported
declining sales in its stores but still
managed to enjoy an overall sales
increase, and Wal-Mart Stores
( WMT -0.31% ).
Not surprisingly, the big winners were
either those that offered shoppers
good deals, like Marshalls and TJ
Maxx parent TJX Cos ( TJX -0.43% )
and Ross Stores ( ROST -1.20% ),
along with the e-commerce
champions. The biggest losers were
those that didn’t offer much in the way
of exciting merchandise or have much
e-commerce to speak of, i.e. Target
( TGT 0.12% ).
For the full chart, please click
here. Here are the top 10.
Rank Retailer ’13 US Retail
Sales % change vs 2012
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1) Wal-Mart $334.3 billion
1.7%
2) Kroger $93.6 billion
1.6%
3) Costco $74.7 billion
5.2%
4) Target $71.3 billion
-0.9%
5) Home Depot $69.9 billion
6.6%
6) Walgreen $68.1 billion
1.3%
7) CVS Caremark $65.6 billion
3.1%
8) Lowe’s $52.2 billion
3.6%
9) Amazon.com $44 billion
27.2%
10) Safeway $37.5 billion
-3.7%
Source: Stores magazine
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7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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U.S. retailers nervous as W Coast port labor talks running out of time by Reuters JUNE 27, 2014, 5:23 PM EDT #
By Lisa Baertlein
LOS ANGELES, June 27 (Reuters) –
With peak shipping season
approaching, U.S. retailers are
anxiously monitoring labor
negotiations affecting 20,000 workers
at West Coast ports that
handle more than 40 percent of goods
shipped in ocean
containers.
The six-year contract between
dockworkers and the employers
who operate port terminal and
shipping lines expires on July 1
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shipping lines expires on July 1
at 5 p.m. PDT (0000 GMT). It covers
workers at 29 ports from
California to Washington state,
including major hubs in Los
Angeles/Long Beach and
Seattle/Tacoma.
Representatives for the workers and
their employers said
they expect container cargo to
continue moving until an
agreement is reached, but retailers
and other business that
depend on the ports are still haunted
by a costly 2002 shutdown.
“Folks are nervous about what’s going
to happen once the
contract expires,” Jonathan Gold, vice
president of supply chain
and customs policy for the National
Retail Federation (NRF),
said on Friday.
During the months of July through
September retailers such
as Wal-Mart Stores Inc and Target
Corp receive
ocean shipments of goods sold during
their critical
back-to-school and holiday shopping
seasons, Gold said.
Labor negotiations at West Coast ports
typically extend
beyond the contract expiration date.
This round of talks could
stretch into mid-July, said Wade
Gates, spokesman for the
Pacific Maritime Association (PMA),
which represents the port
employers.
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PMA is “not expecting any” work
interruptions, Gates said.
“The negotiators will keep negotiating,
the workers will
keep working,” said Craig Merrilees,
spokesman for the
International Longshore and
Warehouse Union (ILWU), which
represents most of the affected
workers.
A breakdown in negotiations resulted
in a 10-day lockout at
West Coast ports in 2002. That
stoppage was estimated to have
cost the U.S. economy $1 billion a day,
said NRF’s Gold, and
disrupted supply chains for six
months.
The National Association of
Manufacturers and NRF estimated
in a recent report that a 10-day work
stoppage at West Coast
ports would cost the U.S. economy
$2.1 billion per day and
result in the loss of 169,000 jobs.
Key issues in the talks include rising
healthcare costs and
the use of outside contract labor.
(Editing by Matthew Lewis)
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RETAIL ZEVIA
Pepsi and Coke's new cola war challenger? Zevia. by Phil Wahba @philwahba JUNE 27, 2014, 2:12 PM EDT #
Zevia, a small maker of naturally sweetened soda, has cornered a market PepsiCo and Coke have been slow to enter.
As consumers grow sweeter on sugar-
free and aspartame-free sodas, one
upstart is trying to build a big head
start on beverage behemoths Coca-
Cola ( KO -0.69% ) and PepsiCo
( PEP -0.28% ) in the growing market
for naturally sweetened soft drinks.
Courtesy: Zevia
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for naturally sweetened soft drinks.
Zevia, based in Culver City, Calif.,
produces the only zero or low-calorie
carbonated soft drink with rising U.S.
sales among the top 20 brands. Its
secret? It uses stevia, a leaf, to sweeten
its soft drinks naturally at a time when
leading diet soda brands such as Diet
Coke and Diet Pepsi are getting
slammed by a backlash against the use
of artificial sweeteners.
In the first half of 2014, U.S. sales of
diet carbonated soft drinks fell 7.5%,
according to Beverage Digest. In
contrast, according to SPINS/IR data,
Zevia saw sales rise 67% in the three
months ending on May 18 compared
to the previous year, despite being
more expensive than leading diet soda
brands.
Zevia, which offers 15 soft drinks,
including cola, root beer, and ginger
ale, had sales of about $90 million in
the last 12 months, making it a tiny
player compared to Pepsi, Coke, and
Dr Pepper Snapple ( DPS 0.17% ).
But that performance has underscored
how slowly the industry’s giants have
been to adapt to changing tastes.
“As big and as powerful as the big
beverage companies are, a lot of the
innovation has been by the smaller
companies,” Beverage Digest editor
and publisher John Sicher told
Fortune.
The industry’s giants are taking notice,
developing their own similar, though
not directly competing, products.
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Coke is introducing Coca-Cola Life, a
mid-calorie cola sweetened with a
blend of stevia leaf extract and sugar,
in the United States in September,
according to a Beverage Digest report.
Meanwhile, PepsiCo is
reformulating Sierra Mist with stevia
this fall, lowering the sugar content by
20%. And Dr Pepper Snapple is
currently testing three naturally
sweetened versions of Dr Pepper, 7up,
and Canada Dry, with stevia and
sugar, in three markets. Food
companies are also getting in on the
action: this week General Mills
( GIS -0.21% ) said it would
reformulate its Yoplait yogurt with
stevia.
To be fair, much of the big companies’
hesitation comes from the risk of
hurting their still high volume diet
brands, or fear of customers by
reformulating a favorite drink.
“We question whether the major
manufacturers will participate
meaningfully in this growth without
cannibalizing their existing brands,”
Wells Fargo analyst Bonnie Herzog
wrote in a research note.
But that hesitation has given Zevia,
which was founded in 2007 and is
held by Long Island-based private
equity firm Northwood Ventures, time
to build an edge.
The brand, which got a big break
when Whole Foods ( WFM -0.11% )
started selling it a few years ago, is
among the five best- selling soft drink
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among the five best- selling soft drink
brands on Amazon.com
( AMZN 5.57% ) and is available in
about half of all U.S. supermarkets,
according to Zevia CEO Paddy Spence.
It is also a draw among more affluent
consumers; the average household
income of a Zevia drinker is $60,000,
compared to a U.S. average of about
$52,000, Spence said.
Despite that success, there is still a lot
of work to do before Zevia can really
say it has cornered the market. For one
thing, it doesn’t sell its products at
major retailers like Wal-Mart Stores
( WMT -0.31% ) or restaurant chains
like McDonald’s ( MCD -0.21% ), and
it has minimal presence in chains like
Target ( TGT 0.12% ).
Zevia has begun selling its beverage
outside of grocery stores. Its products
are sold in the cafeterias of a few
Silicon Valley companies and Zevia is
a sponsor of Major League Baseball’s
Oakland Athletics. But consumers buy
8 to 10 cans of Zevia soda at a time in
a supermarket, so retail is its main
focus for now, rather than the so-
called “single-serve” market at places
like movie theaters and sports venues.
“We built the business at the grocery
shelf because, frankly, that’s where a
lot of the volume purchasing happens,”
Spence said. “You have to earn your
shelf space and retailers are not
willing to take risks—they’re not going
to put a product on the shelf unless it
has proven demand.”
Zevia’s strong position in the zero-
calorie soda area could eventually
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calorie soda area could eventually
make the company an acquisition
target by one of the big guys, Beverage
Digest’s Sicher said. He pointed to
how PepsiCo bought SoBe in 2000
and Coke bought Vitaminwater maker
Glaceau in 2007 to gain a foothold in
beverage growth areas.
Spence declined to say whether Zevia
is up for sale but did say he fields
inquiries regularly. He also hinted that
it would be too soon, anyway.
“We’ve had a phenomenal run so far,
but I feel like I am only part way up
the mountain,” Spence said, noting
that being independent gives Zevia
more room to innovate.
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Content From: ManpowerGroup
Managing Talent
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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Effectively JULY 2, 2014, 3:23 PM #
Forward-looking companies are
demonstrating how to do it and where
to look for talent with the right skill
sets.
Finding employees with just the right
skills has never been easy, but trends
show it’s particularly tough these days
—and getting tougher.
An annual survey from
ManpowerGroup, the world leader in
innovative workforce solutions, finds
36% of companies are having difficulty
filling jobs due to lack of available
talent. The survey hasn’t seen this level
of labor shortage since before the
Great Recession.
Experts warn of increasing challenges
ahead. “The World at Work,” a
McKinsey Global Institute (MGI)
report, predicts that global labor
shortages will intensify through 2030
as employers struggle to find workers
with the technical, linguistic, and
interpersonal skills they need.
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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If current trends persist, “there will be
far too few workers with the advanced
skills needed to drive a high-
productivity economy,” the MGI report
says.
Preparations for the coming labor
squeeze are already underway.
Companies are relying on overseas and
under-tapped workers to fill positions.
Labor economists are urging more
public support for technical training to
address the shortage of these skills.
And innovative employers are teaming
up with experts to cultivate talent in
places where competitors aren’t
necessarily looking.
Consider outsourcing; once several
industry players have located call
centers in one population center, the
pool of appropriately skilled talent
often dries up.
To find ample reserves of untapped
talent, proactive employers partner
with ManpowerGroup’s Experis and
Manpower businesses, which tailor
staffing solutions to a client’s skill
requirements. Manpower handles
staffing for lower skilled jobs, from
general laborers to machinists;
Experis delivers more specialized
talent, especially in IT, finance, and
health care engineering.
“You have to think: Where else could I
fish, and where are there
underleveraged resources?” says Mara
Swan, ManpowerGroup’s executive
vice president for global strategy and
talent. “Lots of times those are aging
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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talent. “Lots of times those are aging
populations, unemployed youth,
women, or veterans. To find those
people, you need recruiting techniques
that put you where they are.”
With expert guidance, organizations
are cultivating new talent pools from
within existing ranks.
ManpowerGroup’s Right Management
business helps companies manage
talent more effectively. That can entail
identifying workers who, with a little
extra training, will have the skills to
stem a particular shortage. Think
electrical engineers or physicists who
transition smoothly to software
engineering.
“Some of this is just knowing how to
manage the whole ecosystem of talent
within your organization,” Swan says.
On the visibility side, firms are
smoothing the way for qualified
applicants to showcase what they can
do. Example: Through a new exclusive
partnership announced in May,
ManpowerGroup’s clients have access
to Mobile Apply, a Jibe technology tool
that lets job seekers apply through
their mobile devices.
Growing labor shortages might be
inevitable, but suffering the
consequences doesn’t have to be.
Forward-looking companies are
showing just how and where to look.
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Sobeys-owner Empire reports lower profit, to close 50 stores by Reuters JUNE 26, 2014, 9:16 AM EDT #
* To close 50 underperforming stores
* Raises quarterly dividend by 1
Canadian cent
(Adds details from the statement,
share close)
June 26 (Reuters) – Empire Co Ltd,
the operator of
Canadian grocery chain Sobeys Inc,
reported a lower
quarterly profit and said it would close
50 underperforming
stores.
Empire said 60 percent of the closures
would be in Western
Canada and it expects cost savings to
result in an improvement
in net earnings.
The company said sales would decline
by about C$400 million
($370 million) but did not provide
further details.
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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Empire bought the Canadian arm of
Safeway Inc for
$5.7 billion to double its reach in the
Western provinces and
help it compete with U.S. retail giants
such as Wal-Mart Stores
Inc and Target Corp
The company said on Thursday store
closures represent 3.8
percent of the total retail network
gross square footage. Empire
had more than 1,500 stores as of June
2013, before it bought
Safeway stores.
Fourth-quarter sales rose about 40
percent to C$5.94
billion, which included C$1.59 billion
from Safeway stores.
Net earnings fell to C$800,000, or 1
Canadian cent per
share, in the fourth quarter ended May
3, from C$105.9 million,
or C$1.56 per share, a year earlier.
Excluding costs of C$169.8 million
related to the store
closures, Empire earned C$1.42 per
share.
The company also raised its quarterly
dividend to 27
Canadian cents per share from 26
Canadian cents.
Empire’s shares closed at C$67.10 on
the Toronto Stock
Exchange on Wednesday.
($1 = 1.0853 Canadian Dollars)
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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(Reporting By Sneha Banerjee in
Bangalore; Editing by Sriraj
Kalluvila and Don Sebastian)
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Sobeys-owner Empire reports lower profit, to close 50 stores by Reuters JUNE 26, 2014, 9:16 AM EDT #
* To close 50 underperforming stores
* Raises quarterly dividend by 1
Canadian cent
(Adds details from the statement,
share close)
June 26 (Reuters) – Empire Co Ltd,
the operator of
Canadian grocery chain Sobeys Inc,
reported a lower
quarterly profit and said it would close
50 underperforming
stores.
Empire said 60 percent of the closures
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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Empire said 60 percent of the closures
would be in Western
Canada and it expects cost savings to
result in an improvement
in net earnings.
The company said sales would decline
by about C$400 million
($370 million) but did not provide
further details.
Empire bought the Canadian arm of
Safeway Inc for
$5.7 billion to double its reach in the
Western provinces and
help it compete with U.S. retail giants
such as Wal-Mart Stores
Inc and Target Corp
The company said on Thursday store
closures represent 3.8
percent of the total retail network
gross square footage. Empire
had more than 1,500 stores as of June
2013, before it bought
Safeway stores.
Fourth-quarter sales rose about 40
percent to C$5.94
billion, which included C$1.59 billion
from Safeway stores.
Net earnings fell to C$800,000, or 1
Canadian cent per
share, in the fourth quarter ended May
3, from C$105.9 million,
or C$1.56 per share, a year earlier.
Excluding costs of C$169.8 million
related to the store
closures, Empire earned C$1.42 per
share.
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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The company also raised its quarterly
dividend to 27
Canadian cents per share from 26
Canadian cents.
Empire’s shares closed at C$67.10 on
the Toronto Stock
Exchange on Wednesday.
($1 = 1.0853 Canadian Dollars)
(Reporting By Sneha Banerjee in
Bangalore; Editing by Sriraj
Kalluvila and Don Sebastian)
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CAMBODIA PRESS- Strikes spur Target roll- back from Cambodia - Phnom Penh Post
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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by Reuters JUNE 25, 2014, 11:51 PM EDT #
U.S. retailer Target Corp is another
major brand scaling
back its sourcing from Cambodia in
response to garment industry
turmoil here, Minister of Commerce
Sun Chanthol revealed during
a trade mission to the United States.
(http://bit.ly/1qcxABN)
—-
NOTE: Reuters has not verified this
story and does not vouch
for its accuracy.
(Phnom Penh Newsroom; Editing by
Anand Basu)
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California's top court says Target not required to carry in-store defibrillators by Reuters JUNE 24, 2014, 12:12 AM EDT #
7/13/14, 11:36 PMU.S. retailers' June same-store sales review
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By Jennifer Chaussee
SACRAMENTO, June 23 (Reuters) –
California’s top court on
Monday unanimously ruled that large
retailers are not required
to provide automated external
defibrillators (AEDs) inside their
stores, deciding in favor of Target Corp
in a wrongful
death lawsuit brought after a shopper’s
sudden death.
The Supreme Court in California
dismissed the argument that
the U.S. retailer fell under a state
health code statute that
requires gyms and other “health
studios” to make available the
life-saving machines.
“We conclude that, under California
law, Target’s common law
duty of care to its customers does not
include a duty to acquire
and make available an AED for use in
a medical emergency,” the
six-judge panel wrote in an opinion on
Monday.
The court’s decision was a defeat for
the mother and brother
of 49-year-old Mary Ann Verdugo,
who died of a sudden heart
attack while shopping with her at a
Target store in 2008 Pico
Rivera, California, a city near Los
Angeles.
The wrongful death lawsuit alleged the
company violated a
common law duty to provide first aid
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common law duty to provide first aid
to the large volume of
customers that frequent its California
stores daily, noting that
AEDs retail on its website for $1,200.
“The inexpensive availability of AEDs
and their ease of use
with even minimal or no advance
training have led to on-site CPR
(cardiopulmonary resuscitation) and
AED assistance to now be an
expected part of first aid response,” the
Verdugo’s complaint
said.
The California Supreme Court upheld
decisions by a U.S
appeals court and lower courts that all
ruled against the
Verdugo family.
“The safety and security of our guests
and team members is
our top priority and we are pleased
with the California Supreme
Court decision,” Target said in a
statement.
(Writing by Eric M. Johnson; Editing
by Matt Driskill)
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