Grocery CEO Ousted | V.Secret Web Down | B.Buy -0.7%

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Best Buy Q1 comp sales down 0.7% Press release

 

…Best Buy cuts full-year sales and profit guidance as tariffs raise cost of electronics at CNBC. “… shoppers bought fewer home theaters, appliances and drones than a year ago. The company said weakness in those categories was partially offset by growth in the computing, mobile phone and tablet categories.” Read more

 

Kohl’s Q1 comp sales down 3.9% Press release

 

Build-A-Bear Q1 net retail sales up 10.9% Press release

 

Federal court rejects Trump’s ‘unbounded authority’ to impose worldwide tariffs at Fox Business. “The three judges who ruled on the matter were appointed by former Presidents Ronald Reagan and Barack Obama, as well as Trump himself. The Trump administration has appealed the court’s decision, Reuters reported.” Read more

 

…White House adviser says three trade deals nearly done at Reuters. “If there are little hiccups here or there because of decisions that activist judges make, then it shouldn’t just concern you at all, and it’s certainly not going to affect the negotiations,” Hassett said.” Read more

 

Foot Locker Q1 comp sales down 2.6% Press release

 

**A note from Sensi Smart Thermostats. Critics agree – it’s a hit: Esquire – Best Smart Thermostat 2024. MSN – Best Overall User Experience 2024. Energy Star Partner of the Year 2020-2024. Website | info@eyeonretail.net

 

Market Basket CEO Arthur T. Demoulas placed on administrative leave at WMUR. “The board members said they believe Demoulas was planning to retaliate against the board for requiring that he work collaboratively with the board on company operations and plans.” Read more

 

Victoria’s Secret said it is addressing a “security incident,” as its website and online orders face ongoing disruption at TechCrunch

 

San Diego is getting its first Red White & Blue Thrift at San Diego Union-Tribune. “The chain, with close to 30 locations across the U.S…describes itself as a jack-of-all-trades merchant on its website, with “vintage, designer, new, nearly new, antique and collectible goods.” Read more

 

Kroger CDL drivers at GA fulfillment center authorize strike amid stalled contract talks at Fox 5 Atlanta

 

Cosmetics company E.l.f acquires Hailey Bieber’s Rhode beauty brand for $1 billion at AP. “Bieber’s Rhode had $212 million in net sales in the 12 months that ended March 31. The company’s products are only available online, but by the end of this year it plans to begin an in-store partnership with Sephora in North America and the U.K.” Read more

 

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7-11 CEO Ex-WM | Tariff Workaround | Penny Hangaround

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Temu-owner PDD Holdings profit dives as it faces challenges at home and abroad at Reuters/Yahoo. “Chinese e-commerce firm PDD Holdings saw first-quarter net profit fall 47% to 14.74 billion yuan ($2.05 billion) as its domestic platform suffered from intense local competition and its international business was hit by global trade uncertainty.” Read more

 

Stephen Hayes Dacus becomes first foreign CEO of 7-Eleven in Japan at AP.”Fluent in Japanese and English, Dacus previously worked at Walmart, Japanese clothing chain Uniqlo and other retailers…It remains unclear whether the company is going to go it alone or decide to collaborate with Couche-Tard.” Read more

 

Retailers pummeled by Trump’s trade war entertain more ‘take-private’ offers at Reuters. “And companies where a family – as in the case of Skechers – or a single investor has a controlling stake can sign these deals faster and more easily than those that need broad shareholder approval. Investment bankers and advisers pointed to other retailers with similar ownership structures as potential take-private targets: Under Armour…Columbia Sportswear Company…Birkenstock…” Read more

 

China Turns to Consumers to Boost Growth, but Households Are Wary at WSJ. “In one initiative this year, the government allocated 300 billion yuan, equivalent to around $42 billion, to expand a program that pays shoppers to trade in old vehicles or electronics for new ones. But while the program has boosted short-term economic activity, economists say it does little to rebalance a Chinese economy that has long favored manufacturing as a driver of growth.” WSJ subs.

 

Alibaba Weighs Options to Reduce Stake in ZTO Express at Bloomberg. “Alibaba Group Holding Ltd. is considering options to pare down its minority stake in express delivery firm ZTO Express according to people familiar with the matter.” Bloomberg subs. 

 

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Businesses are finding a workaround for tariffs — and it’s entirely legal at CNBC. “Businesses are finding a workaround to minimize the most significant hit from tariffs, using a decades-old piece of legislation known as the “first sale rule.” Within U.S. customs law, the first sale rule allows U.S. importers to use the price of the first sale in a number of transactions to calculate customs duties.” Read more

 

Buc-ee’s is set to open its very first locations in Virginia and Mississippi at Fox News. “The Virginia center in Rockingham County, about 2.5 hours west of Washington, D.C., by car, will become Buc-ee’s most northeast location in the U.S…” Read more

 

The 2025 Axios Harris Poll 100 reputation rankings (Trader Joe’s #1, Costco #5, Home Depot #15) Top 100 list

 

The American penny isn’t going anywhere anytime soon at CNN. “If we look at the experience in Canada, for the first year after they stopped making pennies, there’s really no change in transactions,” Jeff Lenard, spokesperson for the National Association of Convenience Stores, told CNN.” Read more

 

AI is ‘breaking’ entry-level jobs that Gen Z workers need to launch careers, LinkedIn exec warns at Fortune/Yahoo. “AI tools are doing the types of simple coding and debugging tasks that junior software developers did to gain experience. AI is also doing work that young employees in the legal and retail sectors once did. And Wall Street firms are reportedly considering steep cuts to entry-level hiring.” Read more

H.Depot -0.3% | F.Dollar +MacNaughton | Lowe’s +Togetherness

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Home Depot Q1 comps down 0.3% “…sales of $39.9 billion for the first quarter of fiscal 2025, an increase of 9.4%” Press release

 

…Home Depot CFO says retailer doesn’t plan to raise prices due to tariffs at CNBC. “Sales patterns improved as the quarter went on, McPhail said. Comparable sales declined 3.3% year over year in February, increased 1.3% from the prior-year period in March and rose 1.8% year over year in April…”we’ve seen the level of customer engagement that we saw in April continue into the first few weeks of May,” (McPhail) said.” Read more

 

Fortune Reveals the 2025 100 Most Powerful Women in Business List Press release

 

Walmart top execs tout benefits of mentoring, financial literacy at Talk Business. “Doug McMillon and Kieran Shanahan, the chief operating officer of Walmart U.S…recently participated in a fireside chat in Rogers to discuss the benefits of mentoring in their long retail careers…McMillon said later that day he would teach the importance of compound interest to 13-year-old students at Washington Junior High in Bentonville.” Read more

 

Family Dollar Names Duncan MacNaughton Chairman and Chief Executive Officer Press release

 

**A note from Sensi Smart Thermostats. People are talking — and the reviews have been exceptional: Esquire – Best Smart Thermostat 2024. MSN – Best Overall User Experience 2024. Energy Star Partner of the Year 2020-2024. Website | info@eyeonretail.net

 

After a Corporate DEI Rollback, Lowe’s Is Focusing on ‘Togetherness’ by Adweek. “Through “10 Million Square Feet of Impact,” the home improvement company and its 300,000 employees will rebuild everything from neighborhood parks to community gardens and food pantries…It will be backed by a 360-degree campaign, “We’re Here To Help,” which spans social, TV, streaming, radio, and NFL games.” Read more

 

RH Announces the Appointment of Lisa Chi as President, Co-Chief Merchandising & Creative Officer Press release

 

Target cuts prices on same-day delivery orders from over 100 retailers at Yahoo. “Previously, Circle 360 customers would have to pay a more for same-day delivery products ordered from Target’s network of retailers, which includes CVS, PetSmart, Lowe’s, and Hy-Vee, and are delivered via Shipt…Target estimates that this will save shoppers around $20 per order.” Read more

 

Kroger closes Ship marketplace for home delivery of third-party products at USA Today

 

Levi Strauss to sell Dockers to brand management firm Authentic Brands Group at CNBC. “While khakis have fallen out of favor in the U.S., Dockers is still popular abroad, which is what makes a brand management company a strategic fit, according to people who have seen Dockers’ financials and spoke on the condition of anonymity because the details were private.” Read more

 

SpartanNash Names Matt Plumb Vice President, Marketing, Retail Banners Press release

 

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Sam’s +6.7% | Dick’s 66% Premium | Cyberattack @ US Retail

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Walmart Q1: US comp +4.5% / Sam’s Club (ex fuel) +6.7% / Walmart Int’l net sales +7.8% “Walmart US ecommerce growth +21% – Walmart US achieved eCommerce profitability in Q1 for the first time, marking a milestone for the company.” Press release

 

…Walmart CFO says price hikes from tariffs could start later this month at CNBC. “We’re wired for everyday low prices, but the magnitude of these increases is more than any retailer can absorb,” (CFO Rainey) said. “It’s more than any supplier can absorb. And so I’m concerned that consumer is going to start seeing higher prices. You’ll begin to see that, likely towards the tail end of this month, and then certainly much more in June.” Read more

 

Dick’s Sporting Goods to acquire Foot Locker for $2.4 billion in effort to corner Nike market at CNBC. “Foot Locker shareholders can receive either $24 in cash – a roughly 66% premium of Foot Locker’s average share price over the last 60-days – or 0.1168 shares of Dick’s stock…Dick’s said it expects to operate Foot Locker as a standalone business unit within its portfolio and maintain the company’s brands – Foot Locker Kids, WSS, Champs and atmos.” Read more

 

…Foot Locker, Inc Q1 comp sales down 2.4% / North America down 0.5% Press release

 

…Dick’s Sporting Goods Q1 comp sales up 4.5% Press release

 

Cybercrime spree that hobbled British retailers now aimed at U.S., Google says at NBC News. “U.S.-based retailers are aware of the threats posted by cybercriminal groups that have recently attacked several major retailers in the United Kingdom, and many companies have taken steps to harden themselves against these criminal groups’ tactics over the past two years,” Christian Beckner, the NRF’s vice president of retail technology and cybersecurity, told NBC News in a statement.” Read more

 

**A message from Comfy Sacks: Delight your consumer with foam-filled, long-lasting and soft bean bag chairs. Genius design + comfort. Constructed in USA. Website | Program details: info@eyeonretail.net

 

Boot Barn Holdings Inc. Q4 comp sales up 6% Press release

 

Walmart Is Preparing to Welcome Its Next Customer: The AI Shopping Agent at WSJ. “At some point in the future, shoppers will deploy an agent, like OpenAI’s Operator, and tell it they want to restock on groceries or buy a new flat-screen TV. Operator will then scan the internet and surface relevant products based on what it knows about the user’s preferences. Ultimately, agents will even be able to complete the purchase, including payment.” WSJ subs.

 

Dollar Tree Surpasses 9,000 Stores Across North America Press release

 

The Hottest New Look Is Used at Bloomberg. “ThriftCon, which has exploded into the largest traveling marketplace for preloved fashion in the US, drew 40,000 attendees to its various events in 2024 and expects to double that this year as prices for new apparel rise because of inflation and President Donald Trump’s tariffs. In 2025 organizers are expanding to include 10 pop-up markets in exhibition halls and concert venues across the US, plus a debut in London.” Bloomberg subs.

 

Alibaba Group quarterly revenue up 7% Press release

 

US wholesale prices dropped 0.5% last month at AP. “Services prices fell 0.7%, the biggest drop in government records going back to 2009, on shrinking profit margins at wholesalers and retailers. Wholesale food prices fell 1%, and egg prices plunged 39%, though they are still up nearly 45% from a year ago because of bird flu.” Read more

 

Wayfair plans its next large-format retail store in Yonkers, New York, set to open in early 2027 Press release

 

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On +43% | Mourning Joann | Apple Brain-Implant

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April: Consumer prices rose 0.2% last month, bringing the annual inflation rate to 2.3%, an unexpectedly cooler reading than the 2.4% increase seen in March at CNN

 

US slashes ‘de minimis’ tariff on small China parcels to 54% at Reuters/Yahoo. “…the levies will be reduced to 54% from 120% for items valued at up to $800 sent from China via postal services, with a flat fee of $100 to remain, starting from May 14. Carriers can pay either the 54% or the $100 fee per package, industry experts said.” Read more

 

Is Jeff Bezos Selling Out the Washington Post? at The New Yorker

 

On Q1 net sales +43% Press release

 

Crafters Mourn the Demise of Their ‘Little Happy Safe Place’ at WSJ. “Cernansky, 73, and legions of crafters are mourning the end of Joann, saying it will leave a quilt-sized hole when it goes dark this month…More than a quarter of Americans who worked on at least one craft project over roughly the past year bought supplies from Joann, according to research firm Mintel.” WSJ subs.

 

Under Armour Q4 revenue down 11% Press release

 

**A note from Sensi Smart Thermostats. People are talking — and the reviews have been exceptional: Esquire – Best Smart Thermostat 2024. MSN – Best Overall User Experience 2024. Energy Star Partner of the Year 2020-2024. Website | info@eyeonretail.net

 

JD.com Grows Fastest Since 2022 Amid Contest with Meituan at Bloomberg/Yahoo. “…reported a 16% rise in sales to 301.1 billion yuan ($42 billion) for the March quarter. JD is now handling close to 20 million food orders daily, executives said Tuesday, surging from just a month ago and already about a fifth of Meituan’s 2024 peak of about 98 million.” Read more

 

…Chinese ecommerce giants make expensive bets on fast deliveries at The Economic Times/MSN. “Chinese ecommerce giants Alibaba and JD.com have opened a new front in the ongoing battle for market share, with both expanding aggressively into so-called instant retail centred around delivery speeds of 30 to 60 minutes this year.” Read more

 

Apple to Support Brain-Implant Control of Its Devices at WSJ. “Synchron has implanted its Stentrode device in 10 people since 2019. Morgan Stanley has estimated that around 150,000 people in the U.S. who suffer from critical upper-limb impairments could be early candidates for brain computer-interface devices. It anticipates that the first commercial approval for such a device will come in 2030. Oxley said he believes Synchron will receive approval before then.” WSJ subs.

 

Sweets & Snacks Expo Announces 2025 Most Innovative New Product Awards Winners Press release

 

USDA and Federal Partners Target SNAP Fraud in Landmark Operation at MSN. “More than 100 locations across southern California, including numerous SNAP retailers, were placed under surveillance as part of the coordinated enforcement effort. The operation resulted in multiple arrests and the seizure of significant evidence related to SNAP retail fraud.” Read more

 

Half-Price Air Conditioners Are Sparking Frenzy for China Brands in Brazil at Bloomberg. “In the weeks after Donald Trump was elected president, Chinese companies flooded Brazilian stores with home appliances and electronics…Chinese brands now account for 20% of all electronics sold in Brazil, up from 16.5% in 2019, according to NIQ, a research firm.” Read more

 

**Get your product, service or event in front of the most powerful decision-makers in the retail community. Contact: info@eyeonretail.net

Costco +6.7% | Coach +13% | Kohl’s CEO Search

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Costco April comp sales (ex. fuel & f/x) +6.7%: US +7.1% / Canada +5% / Other Int’l +6.5% / Ecom +13% “April had one less shopping day versus last year, due to the calendar shift of Easter. This negatively impacted total and comparable sales by approximately one and one-half to two percent.” Press release

 

Warby Parker Q1 net revenue +12% “On track to open 45 new stores, including five shop-in-shops at select Target locations slated to open in the second half of the year.” Press release

 

Kohl’s Forms Committee to Find New Head After CEO’s Ouster at Bloomberg. “Michael Bender, who served as the company’s board chair, has been tapped as interim CEO. On Thursday, Kohl’s announced that John Schlifske, the former CEO of Northwestern Mutual Life Insurance Co., would replace Bender as chair…New details have emerged about Buchanan’s alleged conduct in previous roles, including when he was an executive at Walmart Inc.” Bloomberg subs.

 

Ingles Markets Q2 net sales -2.7% Press release

 

Amazon unveils its first warehouse robot with a sense of touch at GeekWire

 

Maersk warns global container volumes could drop at Reuters. “Maersk said on Thursday container volumes plunged 30-40% between the U.S. in China in April…and warned a protracted dispute could shrink global volumes this year. However, the Danish group stuck to its full-year profit guidance, helped by continued disruption on the Red Sea trade route that has pushed up freight rates.” Read more

 

Tapestry, Inc. Q3 revenue +7%; Fueled by Coach Brand Growth of 13% Press release

 

The Bubble Blasters and Other Chinese Goods That Are Paralyzed by Trade Chaos at WSJ. “Dou Guowei, a 30-year-old Chinese consultant…said many of his clients that sell cheap or custom-made goods are simply instructing shipping companies to “get rid” of goods on the voyage to the U.S. after their American customers said they didn’t want them anymore. “Whether the goods were dumped into the sea or the sailors repossessed them, that I don’t know,” Dou said.” WSJ subs.

 

US Foods Q1 net sales +4.5% Press release

 

Shippers Are Skeptical of Trump’s Truce With the Houthis at WSJ. “It will take some time before the southern Red Sea is safe, and we are working on it,” the (Pentagon) official said…Traffic through the Red Sea is down by 60%. Carriers have switched to longer and more expensive routes around the Cape of Good Hope. Analysts say it could take months to restore shippers’ confidence.” WSJ subs.

 

Target CEO acknowledges silence from leadership has created uncertainty among workers Star Tribune subs. 

 

Hudson’s Bay has received ‘several’ bids, but none from insiders, court documents show at Financial Post

 

Pandora CEO Says US Jewelry Production ‘Simply Won’t Work’ at Bloomberg/Yahoo. “Pandora currently makes 95% of its jewelry in Thailand…was forced to raise prices twice over the past year to offset the impact from higher silver prices. If Trump implements the global tariffs when the 90-day pause ends, the Danish jeweler may raise prices further, Lacik said.” Read more

 

Missourians could soon pay with gold & silver after lawmakers approve odd bill at The Kansas City Star

 

**Retailers are looking for Made in USA products. Get your products in front of big box buyers and on shelf. Contact us at: info@eyeonretail.net

 

WM/Vizio $200K | Costco Wedding Flowers | 24 Hrs in Buc-ee’s

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Trump trade tariffs take U.S. imports, exports to near Covid-level event at CNBC. “We haven’t seen anything like this since the disruptions of summer 2020,” said Kyle Henderson, CEO of Vizion. “That means goods expected to arrive in the next six to eight weeks simply won’t.” Read more

 

Brides Settle for Costco Flowers and American Wine as Tariffs Rain on Wedding Season at WSJ. “About 90% of dresses are manufactured in China…“People look at me like I’m insane when they see the prices, but I tell them it’s what I’m paying, too,” said (wedding florist) Fleck. “The carnation is now the cost of a rose, the rose is now the cost of a garden rose.” WSJ subs. 

 

Walmart is seeking $200,000 commitments from advertisers to run Vizio ads at Adweek. “At its 2025 NewFronts presentation on Monday, the smart TV manufacturer talked about a few new formats and products that let advertisers use Walmart’s reams of shopping data. Vizio claims to reach 79 million people.” Read more

 

Chinese holiday spending inches up but trade war weighs on services at Reuters. “Chinese travellers’ spending rose 8% year-on-year during the May Day holiday to 180.27 billion yuan ($24.92 billion), but was still off pre-pandemic levels, while the country’s services activity expanded at the slowest pace in seven months in April.” Read more

 

DoorDash Announces Agreement to Acquire Deliveroo Press release

 

Costco’s Kirkland brand is bigger than Nike—and it’s about to get even bigger at Fast Company. “Kirkland-branded products (excluding gas) already account for nearly a quarter of Costco sales—some $56 billion in its fiscal year that ended September 1. That makes Kirkland bigger by revenue than Nike ($51 billion last year) or Netflix ($39 billion).” Read more

 

How would you spend 24 hours inside a Buc-ee’s? One man did it. at Chron. “For some reason, Hale didn’t try to sleep, and photos of hour 17 and 18 showed him spiraling into delirium. Hour 19 showed him working the cleaning zamboni. As Hale entered his final hours, he came back to the breakfast tacos and appeared on ESPN’s SportsCenter. Alas, Hale triumphed over his challenges and made it through all 24 hours inside a Buc-ee’s.” Read more

 

**A note from Sensi Smart Thermostats. People are talking — and the reviews have been awesome: Esquire – Best Smart Thermostat 2024. MSN – Best Overall User Experience 2024. Energy Star Partner of the Year 2020-2024. Website | info@eyeonretail.net

 

A New Tech Fund Backed by Jeff Bezos Courts Individual Investors at WSJ. “Hedge fund giant Coatue Management is launching a fund that invests in high-growth public and private tech companies, and requires a minimum investment of $50,000. The family offices of Amazon founder Jeff Bezos and PC company founder Michael Dell have committed a total of $1 billion to seed the new fund…” WSJ subs.

 

Boot Barn Holdings, Inc. Appoints John Hazen as CEO “Prior to joining Boot Barn in 2018 as Chief Digital Officer, he served as SVP of Commerce and Subscriptions of Ring from 2017 to 2018 and SVP of Direct to Consumer of True Religion from 2014 to 2017…” Press release

 

Temu and Shein face massive tariffs. But don’t count them out of the U.S. e-tail scene, experts say at CNBC. “I personally believe, if anything, [America’s e-commerce] game has been accelerating in favor of Temu and Shein … I wouldn’t be surprised if the competitiveness gap actually continues to widen,” added Weinswig, whose research and advisory firm works with clients across tech, retail and supply chains.” Read more

 

Trump says Jeff Bezos was ‘very nice’ and agreed to take tariff info off Amazon listings right after their call at Insider/Yahoo

 

Ex-Starbucks CEO Howard Schultz ‘vividly’ recalls advice from Costco co-founder—it ‘became a core principle for us’ at CNBC

 

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CVS Pops | Sprouts +11.7% | Furner/Vizio

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CVS tops estimates, hikes guidance at CNBC. “Shares of CVS were up 7% in premarket trading Thursday. The company now expects full-year adjusted earnings of $6 to $6.20 per share, up from a previous guidance of $5.75 to $6 per share.” Read more

 

Wayfair Q1 total revenue close to flat / US revenue +1.6% Press release

 

eBay Inc. Q1 revenue +1.0% Press release

 

Walmart US CEO John Furner Reveals How He Was Talked Into Buying Vizio at Adweek. “…chief growth officer Seth Dallaire…suggested Walmart could invest in a non-retail business to bolster thin retail margins…Furner also spoke about how Walmart is handling tariffs…Walmart is launching a new program called “Grow with Us” that provides resources and tools to support American-made products sold by small businesses.” Read more

 

Sprouts Q1 comp sales +11.7% Press release

 

OpenAI rolls out new shopping features with ChatGPT search update at Reuters. “…has updated ChatGPT’s web search capabilities to improve online shopping for users with personalized product recommendations with images, reviews, and direct purchase links…search feature has gained popularity since its introduction last year, and has become one of its most sought-after tools, with over 1 billion web searches in the past week…” Read more

 

UK retail giant Co-op warns of disruption as it battles cyberattack at TechCrunch. “…comes days after U.K. retailer Marks & Spencer confirmed a cyberattack that left customers unable to pick up their orders.” Read more

 

**A message from Su Salsa – Shake up your salsa set with “a hint of lime” and the label that pops on shelf. Learn more | Sample: info@eyeonretail.net

 

95% of ibuprofen comes from China at Fortune/Yahoo. “More than 90% of the supply of anti-inflammation steroid hydrocortisone also comes from China, as well as 70% of acetaminophen and 45% of the U.S.’s penicillin imports. The U.S. is particularly reliant on China for more affordable, generic drugs, and generic drugs make up 90% of prescriptions filled in the U.S., according to the FDA.” Read more

 

Republicans and Democrats Can Agree on This: Stop Minting Pennies at WSJ. “A bipartisan bill expected to be introduced in the Senate on Thursday calls for the U.S. Mint to end production of the one-cent coin…The bill doesn’t go as far as one introduced Wednesday in the House of Representatives that also calls for penny production to stop. That bipartisan legislation says cash transactions should be rounded up or down to the nearest 5 cents.” WSJ subs.

 

Billionaire Lukas Walton names new CIO for his family office at CNBC. “Walmart heir Lukas Walton’s Builders Vision tackles environmental challenges through philanthropy and impact investing…recently backed Norway’s Bluefront Equity, a sustainable seafood fund. In November, the firm co-guaranteed $70 million of debt held by the Bahamas…” Read more

 

Loblaw still adding Canadian products but CEO says ‘Buy Canadian’ trend may not last at Financial Post. “Asked if he anticipates the “Buy Canadian” trend will persist, (CEO) Bank said he was hopeful, but predicted that “maybe a third of it will stick” long term.” Read more

 

Visa and Mastercard unveil AI-powered shopping at TechCrunch

 

Amazon will spend $4B to expand U.S. rural delivery network at GeekWire. “…will create more than 100,000 new jobs and bring its rural delivery network footprint to more than 200 delivery stations.” Read more

 

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