Personnel Updates
• Bed Bath & Beyond Inc. (66) announced that Co-Founders and Co-Chairmen Warren Eisenberg and Leonard Feinstein will retire. The retailer named Patrick Gaston as Chairman. The company also announced its CEO Steven Temares has stepped down. Mary Winston was named Interim CEO.
• Walmart Stores Inc. (216) announced Annie Walker will become VP of Merchandise Operations for Apparel. Julie Barber will take over the VP/DMM of OTC role. The company also said Sara Mortimore has joined as VP of Global Food Safety Compliance.
Financial Focus
• PetSmart Inc.’s online pet store Chewy.com is preparing for an initial public offering.
Industry Insight
• Amazon.com Inc. has opened its 12th Amazon Go store. It is the company’s first in New York City, and the first to accept cash.
• Indigo Books & Music Inc. announced it will test a new retail model that reimagines its stores as a “cultural department store.” The concept will showcase items ranging from home goods to apparel in addition to literature. The company also plans to grow in the United States with a rollout of stores in the Northeast.
• PETCO Animal Supplies Inc. has opened an upscale “pet food kitchen” at its flagship in Manhattan’s Union Square where shoppers can purchase fresh, human-grade meals for their pets. Petco is launching the initiative with pet food company JustFoodForDogs, which has opened freestanding pet kitchens in California and Seattle, with additional sites under construction in Boston and Chicago.
• Walmart Stores Inc. has launched its first-ever online pet pharmacy, WalmartPetRx.com. The retailer, which currently operates 21 vet clinics in its stores across six states, plans to expand the total to 100 during the next 12 months.
Real Estate
• Amazon.com Inc. announced it is opening a new office in downtown Denver, CO. The 98,000 sq. ft. of space will accommodate 400 new jobs it is creating in the metro area.
• Fred’s Inc. said it will close an additional 104 underperforming locations in the Southeast by the end of June.
• Guitar Center Inc. opened a 19,000 sq. ft. store in Pearl City, HI. It is the first store for the retailer in Hawaii and the third of six planned openings for 2019. The openings include the brand’s first store in Alaska.
• Party City Holdco Inc. announced it plans to close about 45 of its locations in 2019.
• Sugarfina, LLC has announced plans to roll out 26 new locations in Mexico over the next five years.
• Walmart Canada Inc. plans to invest more $200 million in its store network during the next 12 months, with a focus on remodeling 31 stores across the country.
• Walmart Stores Inc. has announced plans to refresh and expand 13 of its stores in New Jersey during 2019.
Technology News
• Walmart Stores Inc. has launched its free NextDay delivery in Phoenix and Las Vegas, with plans to expand to Southern California next. There is no membership fee for the service, but there is a minimum purchase requirement of $35. The company plans to reach 75 percent of the country with NextDay delivery by the end of the year.
Green Initiatives
• Walmart Stores Inc. has entered into an agreement for C2 Energy Capital LLC to provide solar power at 46 stores in Arizona, New Jersey, Maryland, California and Louisiana.
