KSS - Spending up to take JCP's spot as sponsor of the Academy Awards.
KSS can spend up to unseat JCP as the department store sponsor of the Academy Awards, to 'introduce the Kohl's brand to new customers'. But, the fact remains that KSS has tapped over 75% of its potential customer base. Based on our calculations, KSS already attracts ~65mm of its 82mm potential customer base to its stores every year. We can assure anyone that the last 25% costs a lot more to acquire than the middle 50%.
JCP - J.C. Penney to do appliances for 1st time in 30 Years. Worth a shot.
Despite our initial reaction, this doesn't seem like such a bad idea. SHLD is in consolidation mode, and there is market share for the taking because of this. Is it the right medicine for a home department that was responsible for a third of the $5.9bn in market share the retailer coughed up from 2010-2013. We're not sure yet, but here are a few things to consider.
1. JCP is being prudent in its test, tapping only 22 markets.
2. The retailer will rely on drop-shipping from the manufacturers, which solves the inventory and fulfillment problems, the headline immediately raised. Fact is that there is a lot of unproductive space in JCP's fleet with store productivity at $120/sq. ft. at the bottom of the barrel in its competitive set. With most of its real estate securitized, breaking apart real estate isn't a good option. So, why not appliances?
WMT - Wal-Mart cancels plans for 2 new supercenters in poorer D.C. areas -- D.C. officials upset after allowing Wal-Mart to open 3 stores in the city's more affluent sectors
AMZN - Amazon strikes unprecedented deal with USPS -- sellers will see no rate change on the cost of Priority Mail shipping, which will remain at 2015 rates
NKE - Nike celebrating the Super Bowl's 50th anniversary with Gold Collection and the Super Bowl 50 Nike Speed Destroyed Collection
NKE - Nike & The University Of Illinois Sign 10-Year Contract Extension
NKE - Nike surprises by sponsoring snowboarders after discontinuing its snowboarding and skiing gear in Fall 2014
GCO - BSN SPORTS Acquires Lids Team Sports From Genesco Inc.
HD - Home Depot replacing head of U.S. stores Marc Powers with longtime company veteran Ann-Marie Campbell
AMZN - Amazon's Dash Replenishment Service going live, which enables connected devices to automatically order physical goods from Amazon when supplies are running low
AMZN - Amazon hiring 1,200 for new robot-reliant 800,000 sq-ft warehouse
CHS - Chico’s FAS sells Boston Proper women’s apparel business to LA-based private equity firm.
AAPL - Apple, which currently sells through local Indian distributers, is seeking Indian government approval to open retail stores
LZB - La-Z-Boy Inc. appoints Giant Eagle exec James Chickini as VP of real estate
M - Macy's announces plans to open 93,000 sq-ft Bloomingdales store in Kuwait in 2017
SWHC - Smith & Wesson, the largest U.S. firearms maker, announces place to buy its way into the outdoor sporting-goods market