Strategy

With its transformation deemed complete, Best Buy is looking for solid gains in profits and sales during the next several years. It also sees expanded opportunities for growth in new smart home initiatives.  

Walmart customers that receive government assistance can now shop for food online.    The discount giant is allowing customers enrolled in the Supplemental Nutrition Assistance Program (SNAP) — the formal term for food stamps — to place online orders. However, the program does come with one loophole.  

There's been a changing of the guard at Dollar Tree as the man who grew the chain into a $22 billion retail powerhouse moves on to a new role.    The discounter has appointed Gary Philbin, enterprise president, as CEO, effective immediately. He succeeds Bob Sasser, who will become executive chairman of Dollar Tree's board.   

Love’s Travel Stops & Country Stores is expanding its footprint.   The chain has reached an agreement to purchase Speedco, a national network of trucking-focused service locations from Bridgestone Americas.    Speedco has 52 locations. The acquisition will bring the number of Love’s operated tire service and lube facilities to 323. Terms of the deal, subject to regulatory approval, were not disclosed.   

Amazon continues to bolster its distribution fleet.   The online giant will be adding a new 1 million-sq.-ft. fulfillment center in Monroe, Ohio — its fourth warehouse in The Buckeye State. Amazon will hire 1,000 associates to manage the picking, packing and shipping larger customer items, such as sports equipment, gardening tools, and pet food.    Amazon already operates fulfillment centers in the cities of Etna and Obetz, and is preparing for the opening of a new facility in North Randall.

Wages

Walgreens Boots Alliance is reportedly tweaking its previously announced deal with Rite Aid Corp.  

It's looking increasingly likely that Toys "R" Us may turn to Chapter 11 bankruptcy protection as a way to deal with its massive debt load.    With about $400 million of its $5 billion debt coming due in 2018, the struggling toy retailer could file for bankruptcy as soon as this week, CNBC reported. https://www.cnbc.com/2017/09/18/toys-r-us-could-file-for-bankruptcy-as-soon-as-this-week-sources-say.html  

Women's footwear brand Aerosoles has filed for Chapter 11 bankruptcy protection as it looks to shutter nearly all of its U.S. stores.   The company has about 80 stores in the United States, and also sells its shoes through other retailers. It has begun store closing sales and is seeking approval from the Bankruptcy Court to proceed with the sales. Aerosoles said it plans to maintain four flagships, in New York and New Jersey, and will also enhance its e-commerce, wholesale and international businesses.    

Fewer stores translates into reduced holiday hiring for Macy's this year.   Macy's plans to hire a total of 80,000 workers for the holiday rush, down from about 83,000 last year. The company has been closing underperforming stores and currently operates some 70 fewer stores than it did last year.