Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th


Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th
Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


Toys R Us built a kingdom and the world's biggest toy store. Then, they lost it.

The toy emporium that Charles P. Lazarus envisioned has been reduced to dusty floors and empty shelves.

Much has been said about the demise of the toy empire, which this week announced its plan to liquidate. There have been fingers pointed at corporate raiders, Amazon and big-box stores. All contributed to its undoing.

Ultimately, though, Toys R Us’ collapse is a story of loyalty run dry. The store in its early days fostered devotion from customers and toymakers. In the end, it lost hold on both.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. It didn’t invest in its stores, even as it was adding to the fleet, leaving it vulnerable when new competition moved in.

The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. By 1978, he had created a toy superstore large enough to become a public company.

In its heyday in the 1980s and 1990s, it was the most important toy store in the country, if not the world. Its strength grew as competitors Kiddie City and Child World went out of business.


Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


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Cramer’s Exec Cut: How stores can be telltale signs of a company’s health

Cramer’s Exec Cut: How stores can be telltale signs of a company’s health6 Hours AgoJim Cramer examines the brick-and-mortar space through the lens of top cannabis plays, Domino’s Pizza and more.


Cramer’s Exec Cut: How stores can be telltale signs of a company’s health6 Hours AgoJim Cramer examines the brick-and-mortar space through the lens of top cannabis plays, Domino’s Pizza and more.
Cramer’s Exec Cut: How stores can be telltale signs of a company’s health Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19
Keywords: news, cnbc, companies, exec, companys, stores, signs, health, lens, space, pizza, telltale, plays, hours, cut, cramers, health6


Cramer’s Exec Cut: How stores can be telltale signs of a company’s health

Cramer’s Exec Cut: How stores can be telltale signs of a company’s health

6 Hours Ago

Jim Cramer examines the brick-and-mortar space through the lens of top cannabis plays, Domino’s Pizza and more.


Company: cnbc, Activity: cnbc, Date: 2018-10-19
Keywords: news, cnbc, companies, exec, companys, stores, signs, health, lens, space, pizza, telltale, plays, hours, cut, cramers, health6


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Zero-waste stores pop up in the US, targeting shoppers tired of all the waste

According to Refed, a nonprofit organization dedicated to fighting food waste in the United States, the retail food sector generates 8 million tons of food waste a year. Additionally, there is a great deal of packaging waste. Some market entrepreneurs see a solution in the biggest store change imaginable: designing waste out of grocery stores altogether by creating what are known as zero-waste grocery stores. While this refill model, which emphasizes reducing packaging waste, has worked for spec


According to Refed, a nonprofit organization dedicated to fighting food waste in the United States, the retail food sector generates 8 million tons of food waste a year. Additionally, there is a great deal of packaging waste. Some market entrepreneurs see a solution in the biggest store change imaginable: designing waste out of grocery stores altogether by creating what are known as zero-waste grocery stores. While this refill model, which emphasizes reducing packaging waste, has worked for spec
Zero-waste stores pop up in the US, targeting shoppers tired of all the waste Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: rene brinkley, special to cnbccom, digital light source, universal images group, getty images, zero market, -lyndsey manderson, co-founder of zero market
Keywords: news, cnbc, companies, grocery, shoppers, waste, stores, tired, food, packaging, targeting, zerowaste, plastic, pop, retailers, retail, sector, store


Zero-waste stores pop up in the US, targeting shoppers tired of all the waste

According to Refed, a nonprofit organization dedicated to fighting food waste in the United States, the retail food sector generates 8 million tons of food waste a year. Additionally, there is a great deal of packaging waste. Food is shipped in boxes. It sits on the grocery shelf often wrapped in plastic or cellophane. Consumers then carry the food home in plastic or paper bags.

The Environmental Protection Agency estimates that containers and packaging make up 23 percent of landfill waste, and plastic pollution is literally strangling the life out of the ocean.

Grocers are increasingly under pressure to reduce their waste footprint. Refed calculates the amount of food wasted by the retail sector represents $18.2 billion a year in lost value.

“In the past this was considered the cost of doing business when sales were easy,” said Chris Cochran, executive director of ReFed. He said as competition increased in the sector — Amazon put the entire retail sector under tremendous margin pressure even before its purchase of Whole Foods Market — retailers started looking for ways to cut cost and create value.

The backlash against packaging waste, specifically plastic, also is intensifying. The state of California banned plastic bags in 2016 and this past April, New York’s Gov. Andrew Cuomo introduced a bill to ban plastic bags across New York State. Numerous cities and counties around the country have bans or fees on plastic bags. As a result, grocers are being forced to reevaluate packaging choices.

Some market entrepreneurs see a solution in the biggest store change imaginable: designing waste out of grocery stores altogether by creating what are known as zero-waste grocery stores. Over the last decade, some retailers also started rethinking their waste footprint and designed stores that encourage customers to bring their own containers. The Refill Shoppe in Ventura California is one such store. The self-described “eco-conscious” shop sells bath, body and household liquids in bulk. In the food category some retailers, including The Filling Station In New York, have dedicated their entire store to selling just a few items in bulk. The Filling Station sells olive oil, vinegar, salt and beer that customers purchase using refillable containers.

While this refill model, which emphasizes reducing packaging waste, has worked for specialty shops, larger grocery stores are trying to figure out how to successfully apply this model to a zero-waste design. At the grocery retail level, a commitment to zero waste means aggressively reducing food and/or packaging waste.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: rene brinkley, special to cnbccom, digital light source, universal images group, getty images, zero market, -lyndsey manderson, co-founder of zero market
Keywords: news, cnbc, companies, grocery, shoppers, waste, stores, tired, food, packaging, targeting, zerowaste, plastic, pop, retailers, retail, sector, store


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Regulators may require e-cigarettes to be sold in vape shops to curb youth use

High school e-cigarette use surged 77 percent last year, Gottlieb said in an interview on “Squawk Box,” citing preliminary figures from the federal Youth Tobacco Survey. Many teens are illegally buying e-cigarettes, including the most popular one, Juul, in convenience stores, Gottlieb said. To confront the issue, he said, regulators could limit sales of flavored e-cigarette products to vape shops. The FDA is also weighing a ban of online sales of e-cigarettes while it crafts regulation with guid


High school e-cigarette use surged 77 percent last year, Gottlieb said in an interview on “Squawk Box,” citing preliminary figures from the federal Youth Tobacco Survey. Many teens are illegally buying e-cigarettes, including the most popular one, Juul, in convenience stores, Gottlieb said. To confront the issue, he said, regulators could limit sales of flavored e-cigarette products to vape shops. The FDA is also weighing a ban of online sales of e-cigarettes while it crafts regulation with guid
Regulators may require e-cigarettes to be sold in vape shops to curb youth use Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: angelica lavito
Keywords: news, cnbc, companies, fda, youth, curb, gottlieb, ecigarette, shops, juul, sales, sold, flavored, products, vape, ecigarettes, regulators, stores, require


Regulators may require e-cigarettes to be sold in vape shops to curb youth use

Many e-cig sales are happening in brick and mortar stores, says FDA’s Gottlieb 1 Hour Ago | 07:18

Regulators are considering prohibiting some e-cigarette sales in convenience stores and confining them to vape shops, Food and Drug Administration Commissioner Scott Gottlieb told CNBC on Friday.

High school e-cigarette use surged 77 percent last year, Gottlieb said in an interview on “Squawk Box,” citing preliminary figures from the federal Youth Tobacco Survey. Middle school use skyrocketed about 50 percent last year, he said. Gottlieb has called these levels “epidemic.”

Many teens are illegally buying e-cigarettes, including the most popular one, Juul, in convenience stores, Gottlieb said. To confront the issue, he said, regulators could limit sales of flavored e-cigarette products to vape shops.

“We’re looking at what can be sold in brick-and-mortar stores and whether or not flavored products can be sold in regular stores like a 7-Eleven and a truck stop and a gas station, or whether or not flavored products on the market should be confined to adult vaping shops, which generally tend to do a better job of checking ID,” Gottlieb said.

The agency conducted a retail blitz over the summer, the largest coordinated enforcement effort in FDA history, and issued more than 1,300 warning letters and fines to retailers who illegally sold Juul and other e-cigarettes to minors.

Retailers who were caught include national convenience stores and gas stations like 7-Eleven, Circle K, Shell and Mobil, according to an FDA database.

The FDA is also weighing a ban of online sales of e-cigarettes while it crafts regulation with guidelines on online sales, he said.

These moves are part of the FDA’s crackdown against youth e-cigarette use. Last month, the agency ordered five manufacturers — Juul, British American Tobacco’s Vuse, Altria’s MarkTen. Imperial Brands’ Blu E-cigs and Japan Tobacco’s Logic — to submit plans to address teen use of their products within 60 days.

Gottlieb said Friday the FDA has now met with Juul, Altria and Reynolds, a unit of British American Tobacco.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: angelica lavito
Keywords: news, cnbc, companies, fda, youth, curb, gottlieb, ecigarette, shops, juul, sales, sold, flavored, products, vape, ecigarettes, regulators, stores, require


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Rent the Runway brings high-end fashion to the office with drop boxes at WeWork

Rent the Runway is setting up drop boxes at 15 WeWork locations across the U.S. — the clothing subscription service’s attempt to bring high-end fashion to the office. “We knew there was a demand for creating these drop boxes in other convenient locations,” Rent the Runway COO Maureen Sullivan told CNBC. WeWork’s customers and the general public will have access to the drop boxes, which open on Thursday. Rent the Runway also said it will have pop-up shops full of clothes to rent at a handful of W


Rent the Runway is setting up drop boxes at 15 WeWork locations across the U.S. — the clothing subscription service’s attempt to bring high-end fashion to the office. “We knew there was a demand for creating these drop boxes in other convenient locations,” Rent the Runway COO Maureen Sullivan told CNBC. WeWork’s customers and the general public will have access to the drop boxes, which open on Thursday. Rent the Runway also said it will have pop-up shops full of clothes to rent at a handful of W
Rent the Runway brings high-end fashion to the office with drop boxes at WeWork Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: lauren thomas, scott mlyn
Keywords: news, cnbc, companies, locations, office, customers, rent, highend, runway, boxes, brings, stores, subscription, month, drop, wework, fashion


Rent the Runway brings high-end fashion to the office with drop boxes at WeWork

Rent the Runway is setting up drop boxes at 15 WeWork locations across the U.S. — the clothing subscription service’s attempt to bring high-end fashion to the office.

The drop boxes will be set up in six U.S. cities — New York, San Francisco, Los Angeles, Chicago, Miami and Washington, D.C. — allowing customers to more quickly return and order clothing, the companies announced Thursday.

WeWork has over 268,000 members, many of them small entrepreneurs, who share office space at more than 280 locations in 77 cities across the world.

Rent the Runway shoppers normally return items via a box in the mail, which slows down the turnaround time for new orders under the company’s monthly subscription plans. Customers can rent an unlimited number of outfits a month, with any four styles out at any one time, for $159 a month or they can rent just four pieces a month at $89.

“We knew there was a demand for creating these drop boxes in other convenient locations,” Rent the Runway COO Maureen Sullivan told CNBC. “There is a massive opportunity to not only grow our drop-box network … but also to grow mini stores within WeWork.”

WeWork’s customers and the general public will have access to the drop boxes, which open on Thursday. Rent the Runway also said it will have pop-up shops full of clothes to rent at a handful of WeWork locations around the launch of the boxes.

The move will help Rent the Runway, which currently has just five locations — in Chicago, New York, San Francisco, Los Angeles and Washington, D.C. — expand via bricks and mortar without investing in additional stores. The company was started online in 2009 by Jenn Hyman and Jenny Fleiss. The latter joined Walmart in 2017 to help Jet.com founder Marc Lore roll out a new personal shopping start-up known as JetBlack.

Rent the Runway became popular for allowing women to rent designer dresses for special occasions online and receive them in the mail within a few days. More recently, the company’s subscription option — where shoppers pay a fee each month to be able to tap into an “endless wardrobe” — has become more popular.

“Our long-term vision is getting our clothing as close to the customer as possible,” Sullivan said. She wouldn’t count out Rent the Runway opening more of its own standalone stores down the road and said in the meantime the company plans to expand on a much larger scale with WeWork.


Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: lauren thomas, scott mlyn
Keywords: news, cnbc, companies, locations, office, customers, rent, highend, runway, boxes, brings, stores, subscription, month, drop, wework, fashion


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Green Growth Brands CEO: Most US cannabis stores are ‘underperforming’

Cannabis retail in the United States is fraught with “points of dissonance” in the stores that exist today, retail industry veteran Peter Horvath, who now runs a cannabis-focused consumer products company, told CNBC on Thursday. Horvath, a former L Brands and American Eagle Outfitters executive whose newest employer, Green Growth Brands, will come public later this year, said he realized this when he visited 100 cannabis stores in the United States on a mission to understand the landscape. That


Cannabis retail in the United States is fraught with “points of dissonance” in the stores that exist today, retail industry veteran Peter Horvath, who now runs a cannabis-focused consumer products company, told CNBC on Thursday. Horvath, a former L Brands and American Eagle Outfitters executive whose newest employer, Green Growth Brands, will come public later this year, said he realized this when he visited 100 cannabis stores in the United States on a mission to understand the landscape. That
Green Growth Brands CEO: Most US cannabis stores are ‘underperforming’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, states, business, green, growth, brands, eagle, retail, horvath, cannabis, united, american, ceo, stores, underperforming


Green Growth Brands CEO: Most US cannabis stores are 'underperforming'

Cannabis retail in the United States is fraught with “points of dissonance” in the stores that exist today, retail industry veteran Peter Horvath, who now runs a cannabis-focused consumer products company, told CNBC on Thursday.

Horvath, a former L Brands and American Eagle Outfitters executive whose newest employer, Green Growth Brands, will come public later this year, said he realized this when he visited 100 cannabis stores in the United States on a mission to understand the landscape.

The idea was to visit all of them quickly “so that, eventually, you can see what the patterns are,” Horvath told “Mad Money” host Jim Cramer in an exclusive interview.

“In most retail experiences, there’s too many points of dissonance. In cannabis, it’s the same, except they’re even more extreme,” the CEO said. “There are things to admire, but generally, every single store is underperforming its true market potential.”

Horvath described his experiences at the stores as “overwhelming.” Often, he said, there’s a security guard at the door in a bulletproof vest and a gun who verifies each customer’s age — “very inviting,” he quipped — followed by a well-staffed, but disorganized retail experience.

“It’s not organized in a way that’s intuitive,” Horvath said. “You’re worried: am I in line? Are they going to make me buy something if I just want to ask a question? In this case, I got to the desk, ready to buy something, and they said, ‘Did you register?’ Uh, no. ‘Oh, you have to register at the desk in the front.”

That experience spoke to the disarray at many marijuana retailers that are currently operating in the United States, Horvath said, qualifying that “everybody’s doing the best they can.”

And, as an experienced retail executive leading a company backed by the Schottensteins, a family that helped build retail giants like DSW and American Eagle Outfitters, Horvath is setting out to trounce the competition.

“We’ve been fortunate enough to be part of the teams and leading the strategies that yielded the No. 1 lingerie business in the world [in L Brands’ Victoria’s Secret], the No. 1 personal care products business in the world in Bath & Body Works, the No. 1 denim business in North America in American Eagle, and the No. 1 shoe specialty business in North America, DSW,” the CEO said.

“We think not only are we maybe the first guys you’ve met in this industry who’ve operated multi-billion-dollar businesses, have taken them public in the U.S. markets and done all those earnings conference calls, but also, we’ve built brands from scratch and brought them to consumers, competed for consumers with everyone else and the result is we came out on top,” Horvath continued. “So I’d say the team we’ve put together is arguably one of the strongest retail teams in any market, let alone cannabis.”


Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, states, business, green, growth, brands, eagle, retail, horvath, cannabis, united, american, ceo, stores, underperforming


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Hundreds of Target stores are getting a makeover in the toy aisles ahead of the holidays

The retailer said it will make a handful of major changes within the toy category, including devoting more aisles to selling toys and hosting play days in stores. Like many retailers, including Amazon and Walmart, Target is hoping to take advantage of the share of the toy market that is now up for grabs. First, Target said it plans to add a quarter-million square feet of space dedicated to toys across more than 500 stores by Nov. 2. Online, Target promises to make it easier for customers to sear


The retailer said it will make a handful of major changes within the toy category, including devoting more aisles to selling toys and hosting play days in stores. Like many retailers, including Amazon and Walmart, Target is hoping to take advantage of the share of the toy market that is now up for grabs. First, Target said it plans to add a quarter-million square feet of space dedicated to toys across more than 500 stores by Nov. 2. Online, Target promises to make it easier for customers to sear
Hundreds of Target stores are getting a makeover in the toy aisles ahead of the holidays Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: laura galligan, lauren thomas, target ramps up toy department in time for the hol
Keywords: news, cnbc, companies, stores, holidays, getting, ahead, plans, space, toy, walmart, shopping, aisles, hundreds, including, toys, makeover, target, company


Hundreds of Target stores are getting a makeover in the toy aisles ahead of the holidays

Target on Tuesday announced its plans to roll out a new toy experience in stores and online just in time for the holiday season and ahead of the first Christmas since Toys R Us liquidated its business.

The retailer said it will make a handful of major changes within the toy category, including devoting more aisles to selling toys and hosting play days in stores. Like many retailers, including Amazon and Walmart, Target is hoping to take advantage of the share of the toy market that is now up for grabs.

First, Target said it plans to add a quarter-million square feet of space dedicated to toys across more than 500 stores by Nov. 2. The company said the extra space will be “absolutely permanent,” lasting beyond the gifting season.

Target will give a fuller remodel to 100 stores, which will allow those locations to showcase larger items, including electric ride-on vehicles, playhouses and outdoor play sets, the company said. Within those aisles, the company will also have more than 2,500 “new and exclusive” toys for sale — nearly double what it offered in 2017.

Then, Target will also host 25,000 “hours of joy” events across stores later this year, allowing kids to test out the latest toys and meet fictional characters. The goal for bricks-and-mortar companies this holiday season is to make shopping more experiential, giving people a reason to come inside rather than shopping for merchandise online. Walmart similarly plans to host events in stores for kids.

Online, Target promises to make it easier for customers to search for “the perfect toys for every kid on their list.”

Target said it will release 22 million gifting catalogs in homes and stores, featuring 15 percent more toy pages compared with last year. Customers will be able to scan items from the catalog using Target’s mobile app, where they can find more information about the product and easily add the item to their cart, the company said.


Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: laura galligan, lauren thomas, target ramps up toy department in time for the hol
Keywords: news, cnbc, companies, stores, holidays, getting, ahead, plans, space, toy, walmart, shopping, aisles, hundreds, including, toys, makeover, target, company


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Walgreens wants to be seen as a health-care company, not just a retailer

Walgreens wants to be seen as more than a retailer. Its competitor, CVS Health, has been touting itself as a health-care company dedicated to transforming the patient experience and lowering costs in the process. The company has inked partnerships with numerous health-care companies, including insurer Humana and diagnostics company LabCorp, to test new health services in some stores. News of the deal alone shaved $12.8 billion in market value from drugstores Walgreens, CVS and Rite Aid in one da


Walgreens wants to be seen as more than a retailer. Its competitor, CVS Health, has been touting itself as a health-care company dedicated to transforming the patient experience and lowering costs in the process. The company has inked partnerships with numerous health-care companies, including insurer Humana and diagnostics company LabCorp, to test new health services in some stores. News of the deal alone shaved $12.8 billion in market value from drugstores Walgreens, CVS and Rite Aid in one da
Walgreens wants to be seen as a health-care company, not just a retailer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: angelica lavito, gregory bull, source, michael nagle, bloomberg, getty images, scott mlyn, andrew harrer, albert llop, anadolu agency
Keywords: news, cnbc, companies, stores, seen, cvs, pessina, health, retailer, pharmacy, insurer, deal, walgreens, healthcare, company, wants


Walgreens wants to be seen as a health-care company, not just a retailer

Walgreens wants to be seen as more than a retailer.

Its competitor, CVS Health, has been touting itself as a health-care company dedicated to transforming the patient experience and lowering costs in the process. To help its case, CVS is acquiring insurer Aetna and hopes to close the deal sometime in the fourth quarter.

Once the deal is finalized, CVS will own a drugstore, a pharmacy benefit manager and an insurer. Walgreens will still be largely a pharmacy chain, though the company is trying to change that. The company has inked partnerships with numerous health-care companies, including insurer Humana and diagnostics company LabCorp, to test new health services in some stores.

“So you will see that in a few years our stores will be completely different and will give lot of prominence, even in front of stores, to health and beauty…” Walgreens Boots Alliance CEO Stefano Pessina said Tuesday in an interview with David Faber at CNBC’s Net/Net Summit at the New York Stock Exchange.

It’s not that being a retailer is a bad thing. But investors want drugstores reinvent their businesses as Amazon already steals sales of everyday items like toilet paper and will soon enter the prescription drug delivery business with its acquisition of online pharmacy, Pillpack.

News of the deal alone shaved $12.8 billion in market value from drugstores Walgreens, CVS and Rite Aid in one day. Despite all the fear in the market, Pessina says it’s important to recognize that even Amazon understands it cannot be only online. He cited Amazon’s acquisition of Whole Foods affirming the e-commerce giant’s desire to get into brick-and- mortar retail.

Pessina’s comments come one day after CVS CEO Larry Merlo said while he doesn’t lie awake at night worrying about Amazon, he does want to ensure the company does not leave any “white space” for the company to disrupt. Both Merlo and Pessina are adding health services to their stores — albeit through different strategies.

“I don’t say [ours] is the better strategy,” Pessina said Tuesday. “I don’t have the arrogance to criticize what our competitors are doing … We are a true health-care company.”


Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: angelica lavito, gregory bull, source, michael nagle, bloomberg, getty images, scott mlyn, andrew harrer, albert llop, anadolu agency
Keywords: news, cnbc, companies, stores, seen, cvs, pessina, health, retailer, pharmacy, insurer, deal, walgreens, healthcare, company, wants


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Sears Chairman Eddie Lampert pleas to employees: We need ‘material progress’ to avoid liquidation

Lampert’s hedge fund, ESL Investments, is already in talks about potentially acquiring Sears, according to recently filed bankruptcy court documents. It is also in talks to contribute money to support the company through its bankruptcy, through what is known as a debtor-in-possession loan. ESL Investments owns about 19 percent of Sears shares outstanding, according to the last data compiled by Factset. Lampert owns roughly 31 percent. Lampert, who stepped down as CEO on Monday after five years i


Lampert’s hedge fund, ESL Investments, is already in talks about potentially acquiring Sears, according to recently filed bankruptcy court documents. It is also in talks to contribute money to support the company through its bankruptcy, through what is known as a debtor-in-possession loan. ESL Investments owns about 19 percent of Sears shares outstanding, according to the last data compiled by Factset. Lampert owns roughly 31 percent. Lampert, who stepped down as CEO on Monday after five years i
Sears Chairman Eddie Lampert pleas to employees: We need ‘material progress’ to avoid liquidation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: lauren thomas, lauren hirsch
Keywords: news, cnbc, companies, material, stores, bankruptcy, speaking, sears, retailer, eddie, chairman, roughly, progress, liquidation, talks, lampert, need, employees, company, according, pleas


Sears Chairman Eddie Lampert pleas to employees: We need 'material progress' to avoid liquidation

Sears was the Amazon of the 1930s. Here’s where the retailer is today 10:24 AM ET Mon, 15 Oct 2018 | 03:17

Former Sears CEO Eddie Lampert gave 1,000 employees a rallying cry at a town hall meeting Tuesday as the company gears up for a do-or-die holiday season.

“We need to show material progress over the next few months to establish to our senior lenders that a reorganization of the company is realistic and to avoid a shutdown and liquidation,” Lampert said at the retailer’s headquarters in Hoffman Estates, Illinois, according to exclusive audio obtained by CNBC.

The retailer filed for bankruptcy Monday, saddled by debt and declining sales. Under Chapter 11 protection, it is closing unprofitable stores and will try to sell roughly 400 of its better performing stores as it looks to stay alive.

Lampert’s hedge fund, ESL Investments, is already in talks about potentially acquiring Sears, according to recently filed bankruptcy court documents. It is also in talks to contribute money to support the company through its bankruptcy, through what is known as a debtor-in-possession loan.

ESL Investments owns about 19 percent of Sears shares outstanding, according to the last data compiled by Factset. Lampert owns roughly 31 percent.

Lampert, who stepped down as CEO on Monday after five years in the role, said the speech marked the “second most difficult public speaking event” in his lifetime. The first was speaking at his father’s funeral 41 years ago.


Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: lauren thomas, lauren hirsch
Keywords: news, cnbc, companies, material, stores, bankruptcy, speaking, sears, retailer, eddie, chairman, roughly, progress, liquidation, talks, lampert, need, employees, company, according, pleas


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Walmart saves $200 million by changing its light bulbs and $20 million with a new floor wax

These are goods like travel services or maintenance supplies. One of those items, is floor wax for stores, which the world’s largest retailer recently changed. “That one change in floor wax will save us over $20 million a year.” Walmart’s founding principle is “everyday low price,4” which can only be achieved by everyday low cost. The more Walmart saves on the cost side, the more shoppers save at checkout.


These are goods like travel services or maintenance supplies. One of those items, is floor wax for stores, which the world’s largest retailer recently changed. “That one change in floor wax will save us over $20 million a year.” Walmart’s founding principle is “everyday low price,4” which can only be achieved by everyday low cost. The more Walmart saves on the cost side, the more shoppers save at checkout.
Walmart saves $200 million by changing its light bulbs and $20 million with a new floor wax Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: courtney reagan, jeffrey greenberg, uig, getty images
Keywords: news, cnbc, companies, stores, changing, 20, bulbs, million, walmart, saves, services, everyday, low, save, cost, goods, floor, light, wax, 200


Walmart saves $200 million by changing its light bulbs and $20 million with a new floor wax

Walmart will be able to mitigate a lot of the tariff issue, says former Walmart US CEO 10 Hours Ago | 03:44

In the U.S. alone, Walmart buys tens of billions of dollars’ worth of goods and services used for the business that aren’t sold in its stores, a category called “goods not for resale.” These are goods like travel services or maintenance supplies.

One of those items, is floor wax for stores, which the world’s largest retailer recently changed.

“Not only is the new wax cheaper, it’s also sturdier. It doesn’t need to be buffed as often, resulting in less spent on the actual buffing, as well as fuel for the machines,” Biggs said. “That one change in floor wax will save us over $20 million a year.”

It’s savings on a major scale.

Walmart’s founding principle is “everyday low price,4” which can only be achieved by everyday low cost. The more Walmart saves on the cost side, the more shoppers save at checkout.

Earlier Tuesday, Walmart cut its earnings outlook. As expected, profits were hurt due to the impact of its acquisition of Indian e-commerce company Flipkart.

WATCH: Walmart lowers forecast to reflect Flipkart deal


Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: courtney reagan, jeffrey greenberg, uig, getty images
Keywords: news, cnbc, companies, stores, changing, 20, bulbs, million, walmart, saves, services, everyday, low, save, cost, goods, floor, light, wax, 200


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