Archive for category: Eye-on-Retail

 

 

Shoplifting skyrockets by 24% across US even as most other crimes fall to pre-pandemic levels at NY Post. “The study reviewed crime statistics from 23 cities across the US, finding shoplifting has steadily been on the rise since the country began emerging from the COVID-19 pandemic around 2022.” Read more

 

Tractor Supply Q2 comp store sales down 0.5% Press release

 

Walmart’s chief technologist reveals how Gen Z habits will define the next great retail transformation at Fortune/Yahoo. “Earlier this year, Walmart chief technologist Suresh Kumar argued that the 62-year-old retailer is in the process of transforming the industry through a framework his company dubbed “Adaptive Retail.”…Now Kumar – who previously worked a combined 20 years for Amazon, Google and Microsoft – and fellow Walmart leaders have the research that they believe backs up their vision.” Read more

 

…Walmart Releases First Annual State of Adaptive Retail Report

 

When This Supply-Chain Essential Goes Missing, It’s Time to Bring in the ‘Pallet Detectives’ at WSJ. “When the world’s biggest supplier of wooden pallets tries to recover its lost property from junkyards and hard-to-find lots, things can get ugly. “If you’re in Europe, it goes relatively easily. If you’re in Alabama, unfortunately sometimes a guy comes out with two dogs and a shotgun,” said Graham Chipchase, chief executive of Brambles, which owns and rents reusable pallets to companies including manufacturers, suppliers and retailers.” WSJ subs.

 

Are schools asking too much for back-to-school shopping? Many parents say yes. at USA Today. “More than…70%, believe that schools ask them to buy too much during the back-to-school season…Eighty-six percent of parents think the cost of education is out of control…52% of those surveyed, also expect to pay more for back-to-school shopping this year than last year.” Read more

 

Sam’s Club MAP Launches Display Ads in Sam’s Club Mobile App’s Unique Scan & Go Feature “Sam’s Club MAP is the first and only retail media platform to integrate ads in a mobile, self-checkout app experience…” Press release

 

Home goods retailer Conn’s files for bankruptcy, to close over 70 stores at Fox Business

 

Loblaw, George Weston to settle class action over bread price-fixing for $500 million at CTV. “The class-action case was brought against a group of companies that includes Loblaw and the Weston companies, Metro, Walmart Canada, Giant Tiger and Sobeys and its owner Empire Co. Ltd.” Read more

 

…Loblaw faces privacy probe over customers’ claims they can’t delete PC Optimum accounts at Financial Post

 

Best Buy Introducing ‘Spokeshologram’ at Adweek

 

Walmart’s New Campaign Gives Farmers a Voice at Progressive Grocer. “I saw that we had a perception issue in produce,” Evan Gaetano, manager of site merchandising-grocery e-commerce at Walmart and one of the architects of the campaign, exclusively told Progressive Grocer…To remedy this situation, Walmart launched the American Farmers campaign on Walmart.com, which “highlights our growers and puts them front and center on our shoppable pages,” noted Gaetano.” Read more

 

Boxed.com relaunch Press release

 

Hibbett announces completion of acquisition by JD Sports Fashion Press release

 

***Eye on Retail Tipsheet will return August 6th. Thanks for reading!

Contact: jlong@eyeonretail.net

 

More teens are working. Here’s why a job is ‘becoming more compelling’ for them, economist says at CNBC. “Last month, more than 5.7 million 16- to 19-year-olds participated in the labor market, Bureau of Labor Statistics data shows, marking the highest teen employment rate in June since 2007. While data shows that this is still far below the more than 8 million teen workers recorded in the late ’70s, the figures show that teen employment has steadily grown over the past decade.” Read more

 

Petco has named former Five Below CEO Joel D. Anderson as its new CEO at Pymnts. “Before joining Five Below, Anderson served for three years as the president and CEO of Walmart.com and for four years as a divisional senior vice president at Walmart stores.” Read more

 

US buyers spent $7.2B on the first day of Amazon’s Prime Day sales event at TechCrunch. “Consumer spend in the U.S. for the first day of Amazon Prime Day recorded 11.7% year-on-year growth according to data by Adobe Analytics.” Read more

 

Meta in Talks to Buy Stake in Eyewear Giant EssilorLuxottica at WSJ. “By acquiring a stake in Paris-based EssilorLuxottica, Meta is aiming to build on the momentum of the Ray-Ban Meta’s success and build more devices together, the people said.” WSJ subs.

 

Walmart Has a New Vice President of Beauty at WWD/Yahoo. “Vinima Shekhar has been named the retail giant’s new vice president of beauty, according to an internal memo dated Tuesday from Silvia Kawas, executive vice president of consumables, obtained by WWD. Shekhar succeeds Creighton Kiper, who was promoted to senior vice president of the retailer’s home business.” Read more

 

Businesses around Amazon HQ are bustling, a year after tech giant’s return-to-office mandate at GeekWire. “Business owners and workers said the three-day mandate has “made a big difference,” that South Lake Union is a vibrant neighborhood once again…Amazon is now starting to track individual hours spent in the office for some employees and requiring a minimum of two hours per visit, Business Insider reported this week.” Read more

 

Walmart greeter pens book about people he’s met on the job at Standard Democrat. “…when his first wife, Shirley, died…he became depressed and began journaling…Warner said as a Christian, he decided to pray about his talent…Two weeks later, Warner was checking out at Walmart when the idea occurred to him. “I looked up and thought, ‘They are all in here; everybody has a story in here,’” Warner said.” Read more

 

Costco Could Lose $389 Million A Year On Its Rotisserie Chicken Change at Seeking Alpha

 

Costco’s bold new plan for the California housing crisis at SF Gate. “An approved upcoming Costco location in South Los Angeles (the Baldwin Village/Crenshaw area specifically) is slated to open in the coming years…the build would encompass not only the Costco store (and necessary parking) but a whopping 800 residential units, including 184 set aside specifically for low-income tenants.” Renderings/Read more

 

Buc-ee’s first Ohio travel center set to break ground this summer at MRT

 

Trendy Brooklyn vintage shop hit by shoplifters fights back with art installation of thieves’ photos at NY Post. “It definitely helps stop the repeat shoplifters. Usually the people who are on the wall do not come back…Ryu, 40, said of the artsy wall of shame…The worst repeat offender is shown in a photo sporting a yellow cap next to the Sharpie-penned phrase,  “We got the winner!! If you know this person, you are the winner too!!” Read more/Pics

 

Bentonville apartments sell for $34 million to Walton brothers at Talk Business

 

Toys ‘R’ Us AI-generated ad sparks fear, fascination at Fox News. “In a move that’s turning heads in both the marketing and tech worlds, Toys “R” Us has partnered with creative agency Native Foreign to create a groundbreaking brand film. But this isn’t your average promotional video. It’s been crafted using OpenAI’s Sora, a text-to-video AI tool that’s pushing the boundaries of what’s possible in content creation.” Read more

 

2024 Best Places to Work for Disability Inclusion (Walmart/Target/Meijer/Etc.) List

 

Historic utility and high fashion. 80-year-old LL Bean staple finds a new audience as a trendy bag at AP. “The simple, sturdy canvas bag called the Boat and Tote is having an extended moment 80 years after its introduction, thanks to a social media trend in which they’re monogrammed with ironic or flashy phrases.” Read more

 

Discount furniture retail chain Conn’s HomePlus is considering a Chapter 11 bankruptcy filing at The Street

 

Home Depot Halloween – 12-foot Skelly gets a pet dog at USA Today. “Home Depot also has a new multi-setting eye kit and a new lighting kit for Skelly…The new kits are compatible with older Skelly models…Lance Allen, Home Depot’s senior merchant of decorative holiday, said the retailer wanted to enable existing Skelly owners to upgrade their setup without having to repurchase any products. “We are really focused on affordability this year,” he said.” Read more/Pics

 

 

 

Costco June comp sales (ex. gas & f/x) +6.9% / Membership fees increase “…effective September 1, 2024, it will increase annual membership fees by $5…Executive Memberships in the U.S. and Canada will increase from $120 to $130 …the increases will impact around 52 million memberships, a little over half of which are Executive.” Press release

 

…is Amazon Prime next? at GeekWire

 

PepsiCo, After Years of Price Hikes, Sounds an Alarm on Consumer Spending at WSJ. “Shoppers are now less interested in buy-one-get-one-free promotions and want lower price points for single items, Caulfield added. Yet even as some consumers search for lower-priced products, PepsiCo’s healthier snack and soda options remain popular, Caulfield said. Those include Pepsi Zero Sugar, PopCorners and the Simply line of snacks.” WSJ subs.

 

Houston residents could be without power for a week at ABC 13. “On Wednesday night, CenterPoint Energy came up with a rough projection to restore 1.1 million homes, projecting 400,000 customers by Friday night and 350,000 by Sunday night. Another 400,000 customers could remain offline past Sunday…” Read more

 

Ammo vending machines debut in grocery stores at USA Today. “(CEO) Magers argues that keeping the ammo in 2,000-pound machines behind steel – and dispensing them only to verified shoppers – makes the rounds far more secure than buying them at gun shops. Thieves can pocket rounds like a “loaf of bread off the shelf,” he said, and online sellers only verify ages by requiring someone to put a check mark in a box.” Read more

 

Walmart is opening five automated distribution centers at CNBC. “Walmart has already built and tested the first of the five automated distribution centers for fresh food in Shafter, California. It recently opened the second one in Lancaster, Texas, which is near Dallas. It plans to open the three others in Wellford, South Carolina; Belvidere, Illinois; and Pilesgrove, New Jersey.” Read more

 

…See inside one of the high-tech refrigerated warehouses powering Walmart’s grocery dominance at Business Insider. Read more/Pics

 

Amazon’s carbon footprint shrank 3% last year — but AI-driven climate challenges loom at GeekWire. “Microsoft and Google both marked significant increases in their carbon emissions last year, with Microsoft’s footprint growing 20% and Google’s expanding 13%. They both pointed to higher energy use to power AI operations and data center construction…” Read more

 

Big Lots to close 35 to 40 stores this year amid ‘doubt’ the company can survive at USA Today. “The company also said it had “substantial doubt” about the ability of the company to continue operation, leading to speculation of a potential bankruptcy filing. The document did not disclose the locations at which stores would be closing.” Read more

 

Here’s how Amazon helps consumers avoid e-commerce scams at Chain Store Age. Q&A

 

‘Tens of thousands’ in losses after burglars sawed hole through roof of Bluffton Best Buy at The Island Packet/Yahoo. “In a “Mission: Impossible”-style operation, a group of burglars stole a fortune’s worth of electronics from the Best Buy store in Bluffton on a late night over the holiday weekend. The unidentified thieves reportedly sawed holes in the building’s roof so one suspect could descend into the store, accessing multiple security cages full of pricey products.” Read more

 

The Buckle, Inc. June comp sales down 5.7% Press release

 

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 the last three to eight earnings reports to be brutally honest,” said David Wagner, portfolio manager and equity analyst at Aptus Capital Advisors.” Read more

 

…Walgreens to close ‘significant’ number of underperforming stores, cuts profit forecast at Fox News. “While Walgreens didn’t specify how many of its more than 8,700 stores will be affected, CEO Tim Wentworth told The Wall Street Journal that a “meaningful percent” of the underperforming locations would shutter.” Read more

 

H&M slumps on doubts over margin target and June sale drop at Reuters. “Sales this month are likely to fall 6%…The Swedish group has been squeezed between the rock-bottom prices of Shein and Inditex’s higher-end fashions aimed at more upmarket customers.” Read more

 

Amazon joins the $2 trillion club at GeekWire. “Amazon’s stock is up nearly 30% this year and more than 50% in the past 12 months…Alphabet also passed the $2 trillion market in April. Nvidia, Microsoft, and Apple are valued at more than $3 trillion.” Read more

 

Cash-strapped consumers buffet Couche-Tard earnings amid leadership shuffle at Financial Post. “The company said Wednesday that (CEO) Hannasch, who has been with the firm for 10 years, will retire on Sept. 6. When chief operating officer Alex Miller takes over the top job, Hannasch will become a special adviser to his successor and the executive chair of the company’s board, tasked with assisting with mergers and acquisitions.” Read more

 

Walmart lays off 155 workers in Charlotte at Charlotte Observer. “The layoffs affect workers at Walmart’s southwest Charlotte regional corporate office at 2118 Water Ridge Parkway…The job cuts are due to “recent changes to Walmart’s business strategy,” human resources officer Maren Waggoner said…” Read more

 

‘This disorder has almost killed me’: His addiction to ultraprocessed food began as a child at CNN

 

How Sam’s Club is trying to take on Costco’s private label Kirkland at CNBC. “Stuck at home during the Covid pandemic, Megan Crozier needed a way to keep her two young children entertained. She bought an inflatable pool from Sam’s Club. The pool began leaking air after just a few uses. For Crozier, chief merchant of the Walmart-owned membership club, that trashed pool — and the disappointment that came with it — helped kickstart a years-long effort to catch up with chief rival Costco and the popularity of its private brand, Kirkland Signature.” Read more

 

Amazon hit with fresh class action-style suit in UK — $3.4BN in competition damages sought for 200,000+ sellers at TechCrunch

 

How Nike Missed the Boom in Running Culture at WSJ. “Brendan Eng’s running group in Portland, Ore., has roughly quadrupled in size since 2021 to about 80 runners…“In the three years I’ve led this group there have been only two Nike road demos. I feel like I’ve seen the Hoka rep four times this year,” Eng said.” WSJ subs.