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August 15, 2019

Publishing News


Hearst Launches Incubator Program in China
InPublishing (UK): "Hearst UK launched The Nest in 2018, which runs at its headquarters in London twice a year. One program offers ambitious internal candidates the opportunity to step out of their everyday roles, progress their careers and learn new skills, while the other supports and nurtures diverse external talent looking to break into the media industry. Both are given a chance to develop new business products and revenue streams. Following the success of The Nest in the UK, Hearst China will launch its own iteration as a four-week program from September this year, with eight people being selected from over 500 applicants. The Nest China will coordinate closely with Julian Linley, Hearst UK’s Business Development Director, who devised and started The Nest in the UK. The ‘Nesters’ will be given a brief based on a business interest or opportunity and will be mentored by experts from across Hearst, creating an environment that enables positive learning and development, says Hearst. The Nest aims to deepen candidates’ understanding of Hearst’s capabilities and provide them with a platform to progress their careers and acquire new skills. Participants in the programme will explore each area of new business development, including market insight, consumer research, product, branding, competitor landscape analysis, marketing, revenue and business planning, before pitching their final ideas to the Senior Leadership Team in the last week of the scheme.As part of Hearst’s commitment to Diversity & Inclusion, The Nest provides external talent with a salary, along with a contribution towards living costs and travel"....
 

Publishers Share Experiential Marketing Strategies
Folio: offers lessons from Taste of Home, Philadelphia Magazine and The Cannabis Business Times.
 
Folio: 

Bookstore Sales Down 5% in First Half
PW: "Bookstore sales finished the first half of 2019 down 5.1% vs. the first six months of 2018, according to preliminary estimates released by the U.S. Census Bureau. Sales in the January through June period this year were $4.59B, down from $4.84B a year ago. Sales in 2018 benefited from strong sales of political books in the first half, as well as the publication of what would become the biggest-selling novel of the year, "The President is Missing." June sales fell 4.9% vs. last June,to $672M from $707M"...
 

Hearst Moving Charlotte NC Offices from Tower to New Building
Charlotte Observer: "Hearst is leaving the uptown [Charlotte] tower that bears its name, as the new bank that will form from the planned merger between BB&T and SunTrust banks readies to move in.Hearst, a diversified media, information and services company, will move into a new eight-story building near Ballantyne, commercial real estate firm Trinity Capital Advisors said in a release Wednesday. BB&T and SunTrust banks said in June that Hearst Tower would be the corporate headquarters for Truist, the new bank they plan to form in a merger.Hearst employs around 350 in Charlotte in accounting, information technology and other business-related support services, the firm said. The company said it will move its Charlotte workforce into the new building next year. Hearst leased three floors of the 198,832-square-foot building in Toringdon Office Park near Interstate 485 and Johnston Road"...
 

Ex National Enquirer Editor's Book: 'Trump: The Making of a Predator'
NY Post: "Page Six reported back in November that the tabloid’s onetime executive editor Barry Levine had signed a deal with Hachette for the tome, but it was unclear what angle he was taking on the subject. Now that the title has been released — “All the President’s Women: Donald Trump and the Making of a Predator” — it seems that Levine’s going after the prez pretty hard. The book is co-authored by Monique El-Faizy and described as “an extensive new look at Donald Trump’s relationships with women, revealing new accusations of sexual misconduct [and] exploring the roots of his alleged predatory behavior.” It’s said to be based on “groundbreaking original reporting""...
 

OTHER NEWS OF NOTE:






Retail News


Walmart Highlights Grocery as Q2 Sales Driver
SN: "Walmart President and CEO Doug McMillon cited strength in online grocery in reporting higher U.S. sales and same-store results for fiscal 2020 Q2 ended July 31. Also on Thursday, Walmart posted lower adjusted earnings per share but beat Wall Street’s consensus estimate by a nickel, sending its share price up around 5% in morning trading. Walmart totaled revenue of $130.38 billion, up 1.8% from $128.03 billion a year earlier. In constant currency, revenue was $131.7B, up 2.9%. Consolidated net income came in at $3.6B, or $1.26 per diluted share, vs. a net loss of $861M, or 29 cents per diluted share, in the prior-year period. Adjusted net EPS, reflecting unrealized gains/losses from the company’s JD.com investment, were $1.27 vs. $1.29 a year ago. Analysts, on average, projected adjusted EPS of $1.22, with estimates ranging from a low of $1.17 to a high of $1.25, according to Refinitiv/Thomson Reuters. “We continue to have momentum, especially in the U.S. We thank our associates for their focus, speed and adaptability in this ever-changing environment,” McMillon said. “We’re favorably positioned as we leverage our expansive supercenter network to deliver a robust omnichannel experience. More than ever, we’re innovating across the business. We’re experimenting with emerging technologies to improve store operations and reduce friction in our customers’ lives. The initiatives we have under way provide extended access to our brand and position the company to earn a greater share of our customers’ wallet over time"... At Walmart U.S., net sales rose 2.9% to $85.2B, from $82.8B a year ago. Same-store sales gained 2.8%, reflecting no impact from fuel. Number of transactions rose 0.6% and ticket size grew 2.2%. On a comparable basis, e-commerce sales rose 1.4%. Operating income rose 4% to $4.7B. “Comps accelerated sequentially on a two-year stacked basis to 7.3%, which is the strongest growth in more than 10 years. We’re gaining market share in key categories, including food, consumables, health and wellness and toys,” McMillon said. “Our ability to deliver experiences that leverage our unique set of assets is paying off. As we scaled grocery pickup in the U.S., it unlocked new capabilities like grocery delivery. Customers love these services, and we’re rapidly expanding them to new locations and testing new options such as unlimited grocery delivery for a fee. And now, we’re taking convenience to a new level with InHome Delivery. Through this service, we’ll help keep customers in-stock on the items they need every day. Starting in the fall of this year, a group of highly trained Walmart associates will begin delivering groceries directly into the homes of customers — maybe in a garage, or in the refrigerator. It will be available to nearly 1M shoppers in three U.S. cities.” Walmart finished the quarter with more than 2,700 grocery pickup locations and over 1,100 delivery locations in the U.S. “In e-commerce, sales growth of 37% reflects strength in online grocery and Walmart.com. We’re making progress to improve the fundamentals of our traditional e-commerce business, including the CVI [Customer Value Index] score and NPS [Net Promoter Score],” said McMillon. “We’re lowering our variable costs per unit, improving gross margin and increasing the number of monthly active users. I’m also excited about the opportunity we have to expand our marketplace. We’ve quickly grown this piece of the business in recent years, and I know we can do even more as we look ahead.” Walmart also is making better-than-expected progress in rolling out its free NextDay delivery service, which was launched in several markets in May and slated to become available to about 75% of the U.S. population by the end of this year"...
 

Hy-Vee Probing Payment Systems Data Breach
PG: "Hy-Vee Inc. has revealed that it’s conducting an investigation into a security incident involving its payment processing systems. The probe is focusing on transactions at some of the grocer’s fuel pumps, drive-through coffee shops and restaurants, including its Market Grilles, Market Grille Expresses, and the Wahlburgers locations owned and operated by Hy-Vee. “After recently detecting unauthorized activity on some of our payment processing systems, we immediately began an investigation with the help of leading cybersecurity firms,” Hy-Vee noted in a statement. “We also notified federal law enforcement and the payment card networks. We believe the actions we have taken have stopped the unauthorized activity on our payment processing systems. … [The] locations [under investigation] have different point-of-sale systems than those located at our grocery stores, drug stores and inside our convenience stores, which utilize point-to-point encryption technology for processing payment card transactions. This encryption technology protects card data by making it unreadable. Based on our preliminary investigation, we believe payment card transactions that were swiped or inserted on these systems, which are utilized at our front-end checkout lanes, pharmacies, customer service counters, wine and spirits locations, floral departments, clinics and all other food service areas, as well as transactions processed through [ecommerce service] Aisles Online, are not involved.”Noting that the investigation was “in its earliest stages,” Hy-Vee had no further details to offer, but promised to keep customers notified, additionally cautioning them to check their payment card statements for any unauthorized activity"...
 

Associated Foods Stores Adds Online Shopping at 33 Stores
PG: "Associated Food Stores (AFS) has expanded its partnership with ecommerce company Rosie to add curbside pickup at 33 corporate stores. The Macey's, Dan's, Dick's Market, Lin's and Fresh Market locations will add the service by Oct. 31... The grocery wholesaler has worked with Rosie since 2015, when its first store introduced online and mobile shopping. Customers will be able to receive free pickup on their first three orders of $30 or more by using the code "UtahCurbside" at checkout. The pickup rate is then $1.99 per order with the same minimum"...
 

Walmart Canada Goes Nationwide With Instacart Delivery
SN: "Walmart Canada has expanded Instacart same-day online grocery delivery to nearly 200 stores across the country.Walmart and Instacart said Thursday that the national launch builds on pilots of the on-demand service at 12 Walmart-banner stores in the Toronto area and five in Winnipeg that began last September, when the companies announced their partnership. With the extension, Instacart grocery delivery — in as soon as one hour — is now available through Walmart stores in communities throughout British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Newfoundland, Labrador, New Brunswick, Nova Scotia and Prince Edward Island"...
 

Amazon Returns Pushed Up Kohl's' Traffic by 24%
Business Insider: "Kohl's is now accepting Amazon returns at all its stores, and it's a "slam dunk" for business, according to the location data advertising firm inMarket. Shopper visits to Kohl's stores rose nearly 24% in the three weeks after all of its locations started accepting Amazon returns, compared to the previous three weeks, data from inMarket shows. "Micro" visits lasting under five minutes increased the most. Visits lasting longer than 16 minutes also rose — by roughly 14% — indicating a potential sales lift for Kohl's"...
 

OTHER NEWS OF NOTE:




 
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