Core inflation hit an annual rate of 3.3% in April, as expected at CNBC. "...the soft monthly readings could provide some hope that the burst in prices over the previous month had begun to ease...gross domestic product growth in the first quarter was less than expected. GDP accelerated at an annualized rate of just 1.6% for the period (vs. 2.0% expected)..." Read more   Best Buy Q1 comp sales +2.0% "We are...maintaining our guidance for the year,” said Matt Bilunas, Best Buy CFO. “Comparable sales have started strong in May, with month-to-date growth up high single digits. Our comparable [...]

  How Barnes & Noble Became Private Equity’s Most Radical Retail Experiment at Bloomberg. "To understand the strategy that’s brought Barnes & Noble Inc. back from the retail abyss, you first have to understand the pyramid...no two pyramids on the dozens of tables inside each of the company’s nearly 750 locations are alike...The method is now so revered among Barnes & Noble employees, every one of them I interviewed in reporting this story used the word “pyramid” as a verb, including the company’s chief executive officer, James Daunt..."  Bloomberg subs.   Big Tobacco comes out on top after US FDA [...]

  Walmart Q1: Walmart US comp +4.1% (ex-fuel) / Sam's +3.9% comp (ex-fuel) / Walmart Int'l net sales +10.1% Press release   ...Walmart issues worse-than-expected outlook as high gas prices hit shoppers at CNBC. "Finance chief John David Rainey said high tax returns may have muted some of the impact high gas prices had on shoppers in the first quarter, indicating consumer pressures could rise in the current quarter." Read more   Kroger Plans Biggest Price Cuts In Years to Take On Walmart, Costco at Bloomberg. "I think about our business a bit like a Formula One race. There’s a [...]

  Home Depot Q1 comp sales +0.6% / US +0.4% Press release   ...Home Depot says core shopper is resilient in the face of higher gas prices, sales rise 5% at CNBC. "The homeowner in a relevant sense is perhaps more protected financially than other customer cohorts and so we continue to see engagement,” finance chief Richard McPhail told CNBC in an interview...Comparable transactions fell 1.3% — the fourth straight quarter of declines..." Read more   Target Names Jeff England EVP, Chief Global Supply Chain and Logistics Officer "England joins Target from QXO, where he served as chief supply chain [...]

  America’s Largest Family Businesses: Walmart, Wegmans, Wawa And 97 More at Forbes. "Forbes’ inaugural list ranks the 100 biggest family firms in the country by revenue. They hail from 31 states across the nation and have built brands like Marriott, Nordstrom and Kohler." Top 100 list   Retail sales rose for the third consecutive month in April at CNN. "Retail sales climbed 0.5% (vs. +0.6% projected) in April from the prior month, the Commerce Department said Thursday, down from March’s 1.6%..." Read more   U.S. Census Bureau: Population Growth Holds Steady in Midsized Cities / Largest Cities Faced Sharpest [...]

  Consumer prices rose 3.8% annually in April, the highest since May 2023 at CNBC. "Excluding food and energy, core CPI increased 0.4% and 2.8% respectively, indicating that while inflation is still well above the Federal Reserve’s 2% goal, a good deal of pressure is coming from non-core areas, particularly energy." Read more   On Q1 net sales +14.5% Press release   Retail Fraud: A Detective Noir Crime Story at The Robin Report. "...the seafood con may be the most brazen...Scallops, priced at around $45 per pound...are one of the most frequently substituted seafoods...The common switch involves surimi which is [...]

  Costco April comp sales (ex-fuel & f/x) +7.8% | US +8% / Canada +7.6% / Other Int'l +6.5% / Digitally-Enabled +18.4% "April had one additional shopping day versus last year...This positively impacted total and comparable sales by approximately one and one-half to two percent." Press release   Ingles Markets Q2 net sales -1.8% Press release   Amazon Pharmacy Expands Access to New Ozempic® Pill via Same-Day Delivery, Kiosks Press release   Bob’s Discount Furniture Q1 comp sales +1.2% Press release   Whirlpool says Iran war causing ‘recession-level industry decline.’ The shares are down 20% at CNBC. "War in Iran [...]

  NRF: Mother’s Day shoppers are budgeting $284 per person, with total spending expected to reach $38 billion "This year, men are budgeting an average $346 per person, compared to women’s $225. When it comes to who they are buying gifts for, though, women are more likely to grab a special something for all the moms in their lives, including stepmoms, daughters or sisters." Read more   US Trade Gap Widened in March as Imports Outpaced Exports at Bloomberg. "The US trade deficit widened in March as an increase in the value of imports exceeded exports in a sign of [...]