Strategy

Staples has added a new marketing leader to its executive team.   Michelle Bottomley has been appointed chief marketing officer. In this role, she will be responsible for marketing across Staples, and helping to promote the company’s focus on its North American Delivery business. She will report to Staples’ CEO and president Shira Goodman.  

Dollar Tree's profit declined in the first quarter amid an impairment charge related to its divesture to Dollar Express.   

Walmart is on fire in grocery and capturing a bigger share from traditional supermarkets.   That's according to Loop Capital analyst Andrew Wolf, who estimates Walmart currently has a 21.5% market share in the U.S. traditional grocery market, reported CNBC.   "Wal-Mart is taking back share from the traditional supermarket at an accelerating rate," Wolf said.  

The retail industry's two major organizations are applauding reports that the House will drop efforts to repeal debit card swipe reform.   

Demand for gaming and mobile products boosted Best Buy’s first-quarter comparable sales, as the retailer beat the Street on profit and sales.   Best Buy revenues rose 1% to $8.53 billion for the period ended April 29, 2017, beating analysts’ estimates of $8.28 billion, from $8.44 billion in the year-ago period. Net income fell to $188 million, or 60 cents a share, easily beating the Street and down from $229 million, or 70 cents per share a year earlier when it benefitted from some settlement proceeds.   

PREIT’s mall-pruning program picked up during the retail real estate industry’s big RECon show.   As the show floor opened in Las Vegas, the Philadelphia-based company announced it had put up for sale Logan Valley Mall in Altoona, Pennsylvania, and Valley View Mall in LaCrosse, Wisconsin. PREIT reported it had received unsolicited interest in these properties and was willing to dispose of them to increase its cash position.  

Chico's FAS gave a downbeat outlook amid first quarter earnings and sales that missed Wall Street estimates.    The women's apparel retailer reported net income of $33.6 million, or $0.26 per diluted share, in the period ended April 30, compared to net income of $31.1 million, or $0.23 per diluted share, in the year-ago period. Analysts had estimated earnings per share of 29 cents for the quarter.  

Amazon is beefing up the team responsible for its grocery store concept.    According to a job description on LinkedIn, the company is looking for an "innovative" store designer to join its Amazon Go ACE (Architecture, Construction & Engineering) team. The ideal candidate, according to the posting, is a "self-starter who thrives in a fast-paced, ambiguous environment and has a deep passion for innovative retail design."