Best Buy Q2 comp sales -2.3% (vs. expected -3.2%) Press release   ...Best Buy lifts annual profit forecast as tighter cost controls pay off at Reuters. "We see a consumer who is seeking value and sales events, and one who is also willing to spend on high-price-point products when they need to, or when there is new compelling technology," Chief Executive Officer Corie Barry said." Read more   Dollar General Q2 comp sales +0.5% "While we believe the softer sales trends are partially attributable to a core customer who feels financially constrained, we know the importance of controlling what [...]

  Lowe's latest US firm to end some diversity policies at Reuters. "Lowe's will no longer participate in surveys for Human Rights Campaign, an advocacy group supporting transgender rights, and is also combining its various business resource groups that represent diverse employees into one umbrella organization...The company will not be sponsoring or participating in community events such as parades, festivals, or fairs and might also make additional changes to the policies over time..." Read more   Kroger and Albertsons defend merger plan in federal court against US regulators’ objections at AP. "Albertsons told a federal judge Monday that it might [...]

  BJ's Wholesale Q2 comp sales up 3.1% "...excluding gasoline sales, increased by 2.4% year-over-year...Digitally enabled comparable sales growth was 22.0% year-over-year...Membership fee income increased by 9.1% year-over-year to $113.1 million." Press release   Williams-Sonoma, Inc. Q2 comp brand revenue down 3.3% Press release   2024 PEOPLE's Companies that Care List (Wegmans #7, Sheetz #9, Publix #15, Target #42, Walmart #50...) Top 100 list   Sam’s Club unveils new design studio on its corporate campus at Talk Business. "...dubbed the “Clubhouse” on its corporate campus at 2100 Simple Savings Drive across the street from the Sam’s Club home office...37,000-square-foot design [...]

  Lowe's Q2 comp sales down 5.1% "...driven by continued pressure in DIY bigger ticket discretionary spending and unfavorable weather adversely impacting sales in seasonal and other outdoor categories, partially offset by positive comparable sales in Pro and online." Read more   ...Lowe’s cuts full-year outlook as it expects home improvement sales to weaken at CNBC. "The company said it now projects total sales of between $82.7 billion and $83.2 billion for the full year, compared with the $84 billion to $85 billion that it previously expected. It said it expects comparable sales to fall by 3.5% to 4%, compared [...]

  Kamala Harris will propose the first-ever federal ban on “corporate price-gouging” in the food industry at CNBC. "...she will direct her administration to increase scrutiny of potential mergers between large supermarkets and food producers...On Friday, Harris will single out the meat industry, saying that “soaring meat prices have accounted for a large part of Americans’ higher grocery bills, even as meat processing companies registered record-breaking profits following the pandemic” Read more   Walmart U.S. comp +4.2% / Sam's Club comp +5.2% Press release   ...Walmart beats estimates, raises outlook at CNBC. "CFO John David Rainey said...Walmart has not noticed a [...]

  Home Depot Q2 comp sales down 3.3% Press release   ...Home Depot expects sales to weaken as consumers grow more cautious at CNBC. "Pros tell us that, for the first time, their customers aren’t just deferring because of higher financing costs,” CFO Richard McPhail said. “They’re deferring because of a sense of greater uncertainty in the economy.” Read more   US producer prices rise less than expected in July - +0.1% last month vs. forecast of +0.2% at Reuters   AI-labeled products can scare away customers, study finds at Fortune/Yahoo. "In every single case,” Gursoy told Fortune, “whenever we [...]

  Costco reports a 7.1% rise in July comp sales (US +6.3% / Canada +10.2% / Other Int'l +8.9%) Press release   ...Costco members will soon have to scan membership cards upon entrance at Fortune/Yahoo. "...plans to add card scanners at the entrances of its warehouse stores in the coming months, with members required to scan in before they start shopping...all guests will need to be accompanied by a valid member." Read more   RUN - Overloaded by Amazon, rural delivery companies reach the end of the road at GeekWire. "Two of the three independent delivery companies based at the [...]

  Sharpie-maker Newell moves more operations from China as tariffs loom at Reuters. "Newell Brands, is moving production of kitchen appliances out of China and has relocated manufacturing for its writing business to Tennessee as it faces "uncertainty" on tariffs ahead of the U.S. presidential election, Newell CEO Chris Peterson said in an interview with Reuters." Read more   Drugstores tinker with new looks as their usual way of doing business faces challenges at AP News. "Walgreens spokesman Jim Cohn said shopper preferences are shifting, and the company aims “to meet them where, when and how they want to shop.”...At [...]