Amazon plans to launch discount store in bid to fend off Temu and Shein at CNBC. "Amazon’s storefront will feature a range of unbranded items, many priced under $20, according to a presentation to Amazon sellers viewed by CNBC...Amazon will ship the products directly from China to the U.S., with the goal of delivering them to shoppers within nine to 11 days, the presentation shows." Read more   Walgreens cuts profit view, looks to shut more stores on sluggish spending at Reuters. "The results this morning were just absolutely terrible. I mean, it's kind of been the theme over [...]

  Hidden Markups at Mail-Order Pharmacies Make Drugs More Costly for Employers at WSJ. "Unity Care NW, a nonprofit health clinic in Washington state, forecasts the cost of medical and drug benefits for its 365 employees and their family members will increase this year by 25%...A big reason: Drugs delivered by mail are costing multiples more than those picked up at a store counter. Markups were as much as 35 times higher than what other pharmacies charged, according to a recent analysis of millions of prescriptions in Washington state." WSJ subs.   Target Announces Return of Target Circle Week July 7-13 [...]

  Inside CVS’s Strategy to Improve the Pharmacy Experience at WSJ. "Mandadi says he views technology—including a new CVS app slated to launch this year—as key to enabling a better customer experience and transforming the business. He spoke with The Wall Street Journal about planned customer-experience improvements, the role that artificial intelligence should and shouldn’t play in healthcare and why he’s still bullish on the metaverse." WSJ subs.   Amazon shifting to recycled paper filling for packages in North America at KIRO 7. "Amazon is shifting from the plastic air pillows used for packaging in North America to recycled paper because [...]

  Wholesale prices unexpectedly fell 0.2% in May at CNBC   Fast fashion retailer Shein hikes prices ahead of IPO at Reuters. "...has hiked prices by over a third on some core products, in a move likely to boost revenues ahead of its planned IPO, according to an analysis of its pricing strategy. Shein's average price hikes exceeded those of its rivals H&M, and Zara, according to data from London-based research firm EDITED..."  Read more   Casey's General Store Q4 net income +55% / inside comp sales +5.6% / stock up about 16% Press release   ‘We’re not backing down’: [...]

  Baltimore key shipping channel fully reopens after Francis Scott Key Bridge collapse at CNBC. "The Port of Baltimore processed a record 1.1 million containers and $80.8 billion in foreign cargo value last year, according to state data. Six highway construction crew members who were carrying out overnight road work plunged to their deaths during the incident." Read more   Buc-ee's opens doors to largest store in country at USA Today. "...scheduled to open at 6 a.m. local time Monday...Spread over 75,000 square feet, the new Buc-ee’s in Luling (TX) is "the largest Buc-ee’s location in the country." Read more [...]

  No-tariff shipments popular with Shein, Temu hit US customs speedbump at Reuters. "U.S. Customs and Border Protection announced late last week it suspended "multiple" brokers from an expedited clearance program for those duty-free, direct-to-consumer imports partly over concerns that contraband was being brought into the country this way. While the agency did not specify a number, customs experts they were aware of up to six suspended companies." Read more   Costco May comp sales +6.4% Press release   Costco plans to stop selling books year-round at NY Times/Seattle Times. "Beginning in January, the company will stop stocking books regularly, [...]

  Walmart CEO Doug McMillon keeps fending off Amazon for the top spot on the Fortune 500. Can he and the mega-retailer continue their streak? at Fortune/Yahoo. "On an April morning at Walmart’s headquarters, Doug McMillon was getting the Ryan Gosling treatment. The occasion was a meeting to celebrate about 150 of Walmart’s long-tenured employees; the giant retailer holds a few such gatherings every year at its campus in Bentonville, Ark...But McMillon was the one being mobbed like a movie star, as coworkers rushed up to ask for autographs or get a selfie with their photogenic CEO." Read more   Sam's [...]