McMillon @ CNBC | Amazon 60% Same/1-Day | Canada Holiday -11%

 

Dollar General Q3 comp sales decreased 1.3% Press release

 

Chinese e-commerce platform Temu drawing shoppers from US dollar stores at Reuters. “As of last month, Temu accounted for nearly 17% of market share in the United States within the discount stores categories, according to data analytics firm Earnest Analytics. That compares to 8% for Five Below, 43% for Dollar General and 28% for Dollar Tree.” Read more

 

Walmart CEO Doug McMillon @ CNBC “Doug McMillon said it’s gotten easier to hire people and get them to stick around. “It’s more normalized,” McMillon said in an interview with CNBC’s Sara Eisen that aired Wednesday on “Squawk on the Street.” “The unusual employment market that we saw the last few years has changed. We are able to staff around the country. Our turnover’s down. We’ve got more continuity, which is helping a lot.” Read more

 

Chewy Q3: net sales up 8.2% / net loss of $35.8 million Press release

 

Amazon’s internal plans to advance its interests in California are laid bare in leaked memo at AP. “The eight-page document — titled “community engagement plan” for 2024 — provides a rare glimpse into how one of American’s biggest companies executes on its public relations objectives and attempts to curtail reputational harm stemming from criticisms of its business.” Read more

 

America’s Most Responsible Companies 2024 (Gap #118, Lowe’s #149, Home Depot #166) at Newsweek

 

Targeting costly meds, Biden admin asserts authority to seize certain drug patents at Politico. “The determination, which was described by three people familiar with the matter, represents the culmination of a nearly nine-month review of the government’s so-called march-in rights. Progressives have long insisted that those rights empower the administration to break the patents of pricey drugs that were developed with public funds…” Read more

 

Canada: Holiday shoppers forecast to spend 11% less than last year at Financial Post

 

Christmas supplies threatened as Panama Canal shipping route suffers its worst drought ever at Daily Mail. “Instead of the eight to ten hours it typically takes to transit through, ships are now waiting one to two weeks in line. Some companies have paid as much as $4million to move to the front of the queue and bypass wait times, Fox News reported.” Read more

 

China’s exports grow for first time in 6 months in relief for factories at Reuters

 

Amazon CEO explains how company carries out same-day delivery at CNBC. “Jassy said 60% of shipments in Amazon’s top 60 metropolitan areas have been same-day or one-day deliveries in the first half of the year.” Read more

 

…Amazon, fighting consumer lawsuit, says ‘guaranteed’ delivery has limits at Reuters

 

Jeff Bezos should pay royalties for using Amazon’s name, says this Brazilian governor at Business Insider/Yahoo News

 

Costco to buy Dallas office tower adjacent to Costco store for $14M at WFAA 8 ABC. “They will likely tear it down,” Mike Geisler, managing partner of Dallas retail brokerage Venture Commercial, speculated to CoStar News. He was not involved in the deal. “Everyone is doing different things with fulfillment centers today with a lot of experimentation underway…” Read more

 

Jeff Bezos’ $190M real estate empire in Seattle includes five previously unreported homes at NY Post

 

Amazon cuts clothing merchant fees to compete with Shein at Yahoo Finance

 

Sacramento sheriff’s office issues warning after uncovering gift card scam involving 50+ California Target stores at CBS 13. “[Retailers] need to put these behind the shelves, they need to control access to them, or they need to completely take them off the shelf,” Detective Andy Cater said. The scam works by taking the gift card’s barcode, replacing it with another and sealing it back up and waiting until a customer purchases it.” Read more

 

Biden administration delays ban on menthol cigarettes until 2024 at CNBC

 

Amazon planned to take away RTO’d employees’ free coffee. Then 10,000 spoke up at Seattle Times. “Ending the perk was yet another hit to weary employees who had already faced unexpected layoffs and new work requirements, said two current employees who spoke with The Seattle Times and asked to remain anonymous.” Read more

 

Woman celebrates 30th birthday at Costco: ‘Cheapest and best birthday dinner yet’ at Fox. “Stimmel and her family ordered five hot dogs, one chicken bake, one rotisserie chicken Caesar salad, a whole cheese pizza and several soda cups — for a grand total of $30.88.” Read more

 

 

Amazon Took My Pet | CVS Cost + | AutoZone +1.2%

 

CVS Plans to Overhaul How Much Drugs Cost at WSJ. “CVS’s roughly 9,500 retail pharmacies will get reimbursed by pharmacy-benefit managers and other payers based on the amount that CVS paid for the drugs, in addition to a limited markup and a flat fee to cover the services involved in handling and dispensing the prescriptions. Today, pharmacies are generally paid using complex measures that aren’t directly based on what they spent to purchase specific drugs.” WSJ subs.

 

…CVS aims to make pharmacy reimbursement process more transparent at Yahoo Finance. “CVS’ new drug reimbursement model looks similar to that of Mark Cuban Cost Plus Drug Company, an online pharmacy launched by the billionaire which aims to drive down the cost of drugs broadly by selling them at a 15% markup over its cost, plus pharmacy fees.” Read more

 

AutoZone 1st Quarter Domestic Same Store Sales Increase 1.2% Press release

 

Care Bears And Other Classic Toys Are Back In Vogue, Sparking ‘Fist Fights’ Over Licensing Rights at Forbes. “While a major licensing agreement might have cost $100,000 a few years ago, that same deal might now cost $500,000 to $1 million, said Jonathan Cathey, CEO of Loyal Subjects…He said he’s seen royalty rates rise from 6% or 8% to 12% or higher in some cases.” Read more

 

J.Jill, Inc. Q3 total net sales down 0.1% Press release

 

Amazon offers students $25 flights home for the holidays at NY Post. “The first-of-its-kind promotion kicks off at 9 a.m. EST on Tuesday and continues at 3 a.m. EST on Wednesday and Thursday for travel between mid-December and early January. Over three days, 3,000 $25 tickets will be available — with 1,000 tickets dropping each day.” Read more

 

Walmart tech vet, AI2 research scientists are behind new Seattle startup Spiffy at GeekWire

 

Macy’s security guard stabbed to death by man who returned 15 minutes after trying to steal hats at NY Post. “Macy’s has faced one of the highest rates of retail theft in City Center (Philly), police said. It’s located right across the street from City Hall. Year-to-date the store has reported more than 250 thefts, Stanford said.” Read more

 

Eli Lilly’s obesity drug now available in U.S. pharmacies at Reuters

 

Mastercard launches Shopping Muse, an AI-powered shopping assistant at TechCrunch. “Although fashion is the first use case for Mastercard’s new tool, the company says this technology could extend into other categories, like furniture and grocery.” Read more

 

Howard University renovates affordable-housing ‘jewel’ with Amazon money at Washington Post. “Amazon’s Housing Equity Fund underwrote the renovation with a $31.3 million low-interest loan, officials said…invests in such housing to counter fears that the megacorporation’s presence in the D.C. area will drive up home prices and displace lower-income families.” Tiered subs. 

 

FTC Chair Lina Khan defends her track record when it comes to blocking mergers and doesn’t subscribe to Amazon Prime at CNBC

 

Uber launches ‘Store Pickup’ feature for those last-minute holiday shoppers at The Verge. “The item has to be less than $200 and weigh less than 30 lbs — so there are some limitations to what Uber will allow… And customers can track the item live in the Uber app.” Read more

 

23andMe confirms hackers stole ancestry data on 6.9 million users at TechCrunch

 

Family calls for Amazon to make changes after delivery driver picks up dog at Fox 5 Atlanta. “Ferranti searched the internet and discovered others claimed their pets were taken by Amazon drivers. So she started a Facebook group called Amazon Took My Pet.  It’s a collection of newspaper and television stories from across the country…” Read more

Costco #9 Career | Bentonville #1 Cranes | 59% “Keep It”

 

Ranking the Best Companies for Career Growth (Costco #9 / Target #11 / Lowe’s #14) at WSJ. “Costco, long regarded as a top employer, stands out from its retail peers with high marks for pay and culture, two metrics that often cluster together…Home Depot scores in the highest group for parity, hiring and promotion, and better than most on retention.” WSJ subs.

 

Kroger Q3 total sales excluding fuel decreased 0.5% Press release

 

More US retailers adopt ‘keep it’ returns policies to shelter profits in holiday surge at Reuters. “This year, 59% retailers offer so-called “returnless” or “keep it” policies for unwanted products whose returns costs exceed their value, according to returns services firm goTRG…Last year, 500 retail executives said 26% of companies had such policies.” Read more

 

Academy Sports Q3 comp sales down 8% Press release

 

Dollar Tree Q3 comp sales: Dollar Tree +5.4%; Family Dollar +2.0%; Enterprise +3.9% Press release

 

How major retailers and Covid-era nostalgia helped revive the vinyl records industry at CNBC. “When Taylor releases a new record, there may be eight, nine, 10, different variants of that same record — different colors, different combinations, maybe there’s some unique tracks that weren’t included on the digital release, or the CD, but you get it on the vinyl,” Michaels explained. “There’s a lot of fans that say, ‘There are eight different variants. I want one of each, please.’ They’re very supportive.” Read more

 

The Buckle November comp sales decreased 10.8% Press release

 

Walmart shifts to India, cuts China imports at Reuters. “The world’s largest retailer shipped one quarter of its U.S. imports from India between January and August this year, according to bill of lading figures shared with Reuters by data firm Import Yeti. That compared with just 2% in 2018.” Read more

 

Express, Inc Q3 comp retail sales down 4% Press release

 

Inside Amazon’s new Bellevue office tower at GeekWire. “There is also lots of artwork, colorful hallways, wood accents, modern lighting and furniture, and coffee bars and eateries throughout. And there are views. At 600 feet, the building is currently the tallest in Bellevue, and from a 32nd floor communal space, employees and visitors can easily gaze south at Mount Rainier.” Read more/Pics

 

Amazon inks new deal with NASCAR Press release

 

Big Lots Q3 comp sales down 13.2% Press release

 

Chinese E-Commerce Giant Temu Will Return to the Super Bowl at WSJ. “The wave of spending by China-owned retailers is affecting the overall online ad business. Temu and rival Shein are “almost single-handedly having an impact on the cost of advertising, particularly in some paid channels in Google and Meta,” Etsy CEO Joshua Silverman said during an earnings call with analysts earlier this month.” WSJ subs.

 

Duluth Trading Q3 net sales decreased 6.1% Press release

 

Berkshire Hathaway’s Charlie Munger had a longtime, special relationship with Costco at Yahoo Finance. “Berkshire Hathaway exited its stake in Costco in late 2020 after selling 4.3 million shares, but Munger retained a personal stake in the company…the value of his total stake in the company to over $111 million…” Read more

 

Bentonville leads nation in cranes per capita at Talk Business

 

Meijer sued by tech business in dispute over self-checkout software at Crain’s. “In its three-count complaint, Mad Mobile alleges that Meijer conspired to steal proprietary technology and continues to build out Mad Mobile’s software and business processes, in violation of an agreement between the two companies.” Read more

BNPL +42% | WM Romcom | Amazon #1 Delivery Biz

 

US Cyber Monday sales hit record $12.4 billion on big discounts at Reuters. “Online consumer spending jumped 9.6% on Monday from the $11.3 billion seen last year, outstripping Adobe’s initial expectations for a 6.1% rise to $12 billion…A record $940 million worth of purchases were made through BNPL (Buy Now, Pay Later) on Cyber Monday, surging 42.5% from last year and trouncing Adobe’s earlier estimate for an 18.8% jump.” Read more

 

Amazon touts ‘record-breaking’ sales in kickoff to holiday shopping season at CNBC. “The company said the period from Nov. 17 to Cyber Monday marked its “biggest ever” holiday shopping event compared to the same 11-day stretch last year. Amazon, which did not disclose actual sales figures, added that shoppers worldwide bought more than 1 billion items during the period.” Read more

 

Black Friday online sales reach record level, according to Adobe Analytics at Fox. “…climbed 7.5% from the total that Black Friday online shoppers forked over in 2022, according to Adobe Analytics.” Read more

 

Amazon.com has grabbed the crown of biggest delivery business in the U.S., surpassing both UPS and FedEx in parcel volumes at WSJ. “There’s not a lot of perceived value in chest thumping on being the biggest,” said a former senior Amazon logistics executive about the milestone. Instead of a celebration marking the jump on the leaderboard, Amazon executives high-fived and got back to work, one recalled.” WSJ subs. 

 

Walmart’s Holiday ‘RomCommerce’ Aims to Make Shoppers Swoon at Adweek. “Add to Heart follows a young woman named Jessica working as an interior design assistant in New York as she navigates the usual romcom tropes…audiences can shop the outfits worn by the cast, the makeup the boss applies, and almost all the furnishings, ornaments and other holiday fare conspicuously placed around the generously spaced homes—with more than 330 products available to purchase through the retailer.” Read more 

 

Canada Goose execs take on sales associate jobs on Black Friday at Financial Post. “(President) Baker helped a family headed for an Alaskan cruise find coats and test them out in the store’s cold room, a -25 C space…“That’s one of the confirmations or leanings for me today: what an important role our cold room plays in the experience and them leaving knowing they bought the right jacket…” Baker said.” Read more

 

China’s Shein files for US IPO at Reuters. “Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the initial public offering, and Singapore-based Shein could launch its new share sale some time in 2024, the sources said.” Read more

 

We watched — and shopped — Amazon’s first Black Friday NFL broadcast at GeekWire. “For me, the QR codes made the commercial breaks a tad more compelling…However, it got cumbersome to continuously whip out my phone and try to scan the QR codes on my TV before the commercial ended. I also had the game streaming on my laptop. It would have been nice to be able to just click an ad or a button versus scanning a QR code with my phone pointed at the computer screen.” Read more/Pics

 

Amazon wants businesses to use its palm-scanning tech to let employees into the office at CNBC. “Companies already signed up for the biometric technology include IHG Hotels & Resorts, turnstile manufacturer Boon Edam, and Kone, an escalator and elevator provider. Amazon didn’t disclose pricing for the service, which is available in preview in the U.S. starting Monday.” Read more

 

Macy’s, Inc. Names Sharon Otterman Chief Marketing Officer “Most recently, Sharon served as CMO at Caesars Entertainment, where she launched Caesars Sportsbook, a new sports betting brand in the U.S…” Press release

 

Amazon’s iRobot purchase sucks up formal competition concerns in EU at TechCrunch

 

Mall of America had more Black Friday traffic this year than the year before pandemic at Minneapolis Star Tribune. “The country’s biggest mall saw 4% more visitors between Friday and Sunday than on Black Friday weekend 2019. The mall was not open as many hours, either.” Read more

 

Jeff Bezos is moving from Seattle to Miami—and he could take some of Amazon with him at Fortune. “Citing anonymous sources familiar with the matter, (Bloomberg) said Amazon was searching for 50,000 square feet of space.” Read more

 

Neighbors say these Bay Area ghost kitchens are out of control at San Francisco Chronicle. “I’ve seen drivers cuss out the police. They cuss us out. They threaten to fight us,” Koral said. “We are verbally assaulted on the daily and threatened with physical violence on the daily. … It gets scary.” Read more

 

Here is where millennials moved to the most in 2022 at The Hill
Cambridge, Massachusetts
Santa Clara, California
Seattle, Washington
Sunnyvale, California
Denver, Colorado
Arlington, Virginia
Bellevue, Washington
Killeen, Texas
Austin, Texas
Sandy Springs, Georgia

Lowe’s -7.4% | “Deal-Focused” | B.Buy -6.9% | Amazon’s Big Friday

 

Lowe’s Q3 comp sales decreased 7.4% “Updates full year 2023 outlook – Comparable sales expected to be down approximately -5% as compared to prior year (previously down -2% to -4%).” Press release

 

…Lowe’s cuts sales outlook as homeowners take on fewer projects at CNBC. “CEO Marvin Ellison said Lowe’s felt a “greater-than-expected pullback” by customers on discretionary projects and big-ticket purchases. Yet he said its sales to home professionals, which are accounting for a growing share of its revenue, rose in the quarter. Those pros drive about 25% of its business…will next focus on “offering value and convenience this holiday season.” Read more

 

American Eagle sales up but gives unimpressive holiday forecast at CNBC. “Sales rose to $1.3 billion, up about 5% from $1.24 billion a year earlier….it’s expecting its operating income to be between $105 million and $115 million, which is mostly below expectations of $114 million, according to StreetAccount.” Read more

 

Lowe’s, Best Buy and Kohl’s predict a weak holiday at CNN. “Consumer demand has been even more uneven and difficult to predict,” Best Buy CEO Corie Barry said in a statement, noting that the company “prepared for a customer who is very deal-focused.” Read more

 

Canada’s grocery giants reveal new plans to stabilize food prices — including expanded price freeze and early holiday discounts at Toronto Star. “Sobeys’ parent Empire Company Ltd., Canada’s second-largest grocer, told the Star it is freezing prices on thousands of products, mostly in the centre aisles of its stores, until early next year. The price freeze, however, only builds on an existing tradition in the Canadian grocery business, where major retail chains often refuse to accept price increases from suppliers in an attempt to simplify their operations for the holiday sales blitz.” Read more

 

Dick’s Sporting Goods Q3 comp sales up 1.7% “…on top of a 6.5% increase in the third quarter of 2022.” Press release

 

Amazon’s Black Friday Deal: Football With a Side of Online Shopping at WSJ. “Amazon Prime Video plans to carry the first-ever “Black Friday” game later this week, serving Americans touchdowns and online shopping as an alternative to battling deal-seekers at the mall…Amazon is planning to feature “shoppable ads” during Friday’s game that use QR codes that viewers can scan to make instant purchases.” WSJ subs. 

 

Sheetz gas prices for Thanksgiving week: $1.99 a gallon at USA Today

 

Best Buy Q3 comp sales declined 6.9% Press release

 

Foot Locker, Teamsters Show Their Drug-Benefit Managers the Door at WSJ. “Foot Locker replaced OptumRx last year because it wanted more information about how much the PBM was profiting off its work for the retailer…Foot Locker hired a smaller pharmacy benefit manager, Navitus Health Solutions of Madison, Wis., which tells employers it passes through to them 100% of the drug rebates it negotiates.” WSJ subs. 

 

Kohl’s Q3 comp sales down 5.5% Press release

 

Publix names new CEO, executive chairman, and president at Supermarket News “…current CEO Todd Jones becoming the new Publix executive chairman, current President Kevin Murphy becoming CEO, and current Senior Vice President John Goff becoming president.” Read more

 

Hibbett Q3 comp sales decreased 2.7% Press release

 

4 injured after Walmart shooting in Beavercreek, Ohio; suspected shooter dead at USA Today. “The shooter died from an apparent self-inflicted gunshot wound, police said. The suspect’s name, a motive for the attack, and other details weren’t immediately released.” Read more

 

Famous Footwear Q3 comp sales down 6.9 percent Press release

 

Home Depot to acquire International Designs Group a platform company that owns and operates Construction Resources – Construction Resources is a leading distributor of design-oriented surfaces, appliances and architectural specialty products for professional contractors…” Press release

 

WM US +4.9% | W.Sonoma -14.6% | Oreo Lockdown | Macy’s -7.6%

 

Walmart Q3 U.S. comp sales up 4.9% Press release

 

…Walmart’s caution on consumer spending ahead of holidays sends shares lower at Reuters. “Walmart’s CFO John David Rainey told Reuters the company saw shoppers slow down purchases in the second-half of October, and then pick up spending in the early part of November, on items including apparel and home goods, that have been out of favor for most of the year.” Read more

 

Bath & Body Works trims sales forecast as demand slows into holiday season at Reuters. “The retailer expects its 2023 net sales to fall by 2.5% to 4%, compared with its previous forecast for a decline of 1.5% to 3.5%.” Read more

 

Stores Are Finally Giving Shoppers a Break on Prices at WSJ. “The average price of food, beverage, beauty and other everyday items fell about 3% in the most recent quarter compared with the previous one, said Christina Hennington, Target’s chief growth officer earlier this week. The relief could spur more discretionary spending, she said, but the inflation over years in food, household essentials, pets and baby will “take a while to overcome.” WSJ subs. 

 

Q3 comp sales: Macy’s down 7.6% / Bloomingdale’s down 3.2% / Bluemercury up 2.5% Press release

 

…Macy’s puts up strong third quarter numbers, raises profit outlook and top end of full-year revenue at AP. “Overall sales fell 7% to $4.86 billion, with sales at traditional stores and online sales both down 7%. Still, that topped the $4.77 billion that analysts polled by Zacks Investment Research were calling for.” Read more

 

Williams-Sonoma, Inc Q3 comp brand revenue down 14.6% Press release

 

TJX Q3 overall comp store sales increased 6%, well above the Company’s plan / Comp store sales increased 7% at Marmaxx and increased 9% at HomeGoods Press release

 

Target CEO claims customers are saying ‘a big thank you’ for locking up merchandise at CNBC. “CNBC again asked Cornell to confirm that Target hasn’t seen a measurable drop in sales or traffic in those stores because of the inconvenience of having to wait for items. “Courtney, in many cases, it’s just the opposite. The fact that we’re in stock is what’s most important for the guests,” he said.” Read more

 

Walmart Claims Top Retailer Spot for 2023 Kantar PoweRanking for 27th Consecutive Year “Kroger and Target switched places to number two and number three respectively…Costco and Amazon traded places to number four and number five respectively while among the top ten, Publix and Meijer traded to number seven and number eight.” Press release

 

How Walmart became a fashion mecca for savvy style stars at Daily Mail. “Denise Incandela is a major force behind the change. She serves as the Executive Vice President of Apparel and Private Brands for Walmart U.S., and has a background in luxury, previously working with Moosejaw, Ralph Lauren and more.” Read more

 

Feds seize $1B in fake handbags and shoes from NYC storage unit in largest counterfeit bust in US history at NY Post

 

‘Everything’s Locked Up’: Shoppers Turn to Amazon as Big-Box Retailers Combat Theft at Bloomberg. “Like many shoppers, New Yorker Sarah Henry is accustomed to retailers locking up products to thwart thieves. But when she saw a Manhattan CVS had put Oreos behind glass, she took a photo to document the insanity…Henry has taken to ordering groceries and medication online from Stop & Shop Supermarket and Amazon.com.” Bloomberg subs. 

 

Shoe Carnival Q3 comp store sales down 7.4%  Press release

 

Amazon brings its home robot to businesses at TechCrunch. “Astro for Business isn’t exactly cheap, though, starting at $2,349.99…” Read more

 

Shopping Crate & Barrel’s new virtual store feels like playing a video game at Fast Company. “…is the first time that Obsess has painstakingly replicated the interior of a physical store, from the texture of the walls to the exact proportions of the window. “We spend a lot of time working on the interiors of our stores,” says Brauer. “So it was important to us that the virtual store be as close as possible to the real thing.” Read more

 

Alibaba shelves cloud spinoff, citing U.S. chip restrictions at CNBC

 

Google will make fake AI products to help you find real gifts at The Verge. “Google’s AI-powered Search Generative Experience (SGE) is behind a bunch of new shopping features that aim to help users find niche or otherwise unique products for a friend or themselves. These include using AI to generate gift ideas or fashion items you can then shop for. Google is also expanding virtual try-ons to men ahead of the holiday season.” Read more

 

Loblaw, Metro point the finger at suppliers as food inflation persists at Financial Post

 

Tim Cook, Elon Musk, Steve Schwarzman spotted at Xi Jinping dinner with U.S. CEOs at CNBC

 

Amazon says Project Kuiper satellites ace orbital tests — including online sale at GeekWire. “Amazon is far behind SpaceX’s rival Starlink satellite network, which already has more than 2 million subscribers. But Project Kuiper aims to take advantage of synergies with Amazon’s other business lines, ranging from online retail sales to Amazon Prime Video and Amazon Web Services.” Read more

 

 

H.Depot -3.5% | Bezos Bash | TP Pics | Ikea Discount Dead

 

Home Depot Q3 U.S. comp sales decreased 3.5% Press release

 

…Home Depot earnings beat, but retailer offers a tepid outlook as sales slide at CNBC. “The retailer indicated caution about the coming months, as it narrowed its full-year outlook. It said it now anticipates sales will fall by 3% to 4% from the prior year, compared with a previous expectation of a 2% to 5% decline…In an interview with CNBC, Chief Financial Officer Richard McPhail said the company’s results and forecast reflect that the year “is a period of moderation in home improvement.” Read more

 

US consumer inflation eased in October at AP News. “Compared with a year ago, consumer prices rose 3.2% in October, down from 3.7% in September. Excluding volatile food and energy prices, so-called core prices also weakened unexpectedly. They rose just 0.2% from September to October, slightly below the pace of the previous two months.” Read more

 

Washington, DC, CVS replaces shelves of toilet paper with framed photos of products at NY Post. “The unusual store display was started after homeless people began snatching the products off the shelves of the drugstore, located on H Street NE, and leave without paying…” Read more

 

Ikea is doing away with in-store discounts for its most loyal customers at Fast Company. “About one year after debuting a 5% discount for members of its U.S. loyalty club, Ikea will soon discontinue this perk. Beginning February 1, 2024, the blue-box retailer will no longer offer a discount on in-store purchases of all furniture and decor.” Read more

 

Amazon lays off more than 180 employees from gaming division at GeekWire.

 

McDonald’s and Crocs are releasing a line of $75 shoes inspired by Grimace and the Hamburglar at CNBC. “Also for sale will be a number of McDonald’s-themed charms that can be attached to the clogs, including french fries, the Big Mac and the iconic Golden Arches logo. The shoes will be released on November 14, retailing for between $70 and $75.” Read more

 

Amazon Leads U.S. Grocery Retailers in Personalization Followed by H-E-B and Kroger, dunnhumby Finds “The seven retailers with the next highest overall customer preference index scores are: 4) Giant Eagle, 5) King Soopers, 6) Meijer, 7) The Giant Company, 8) Target, 9) Fry’s, 10) Smith’s.” Press release

 

Etaily is a “one stop solution” for consumer brands that want to enter Southeast Asia at TechCrunch. “The startup has about 50 global clients, including Levi’s, Crocs, Reckitt and Skechers who use it to develop lifestyle products, manage selling on platforms like Lazada and Shopee and brand.com, and fulfill orders through etaily’s asset-light warehouse network.” Read more

 

Sacramento sheriff calls out Target for limits on shoplifting enforcement at ABC7. “…we were told by their head of regional security that we could not contact suspects inside the store; we could not handcuff suspects in the store; and if we arrested someone, they wanted us to (process) them outside… behind the store… in the rain.” Read more

 

Kroger and Walgreens have a new way to fight theft at The Street. “… have been working with Alto, a company that mixes technology and human resources to make it easier for retailers to give law enforcement what they need to arrest and prosecute shoplifters.” Read more

 

As Target shutters some stores, retailer looks to prove it can grow and avoid new setbacks at CNBC. “Chief Operating Officer John Mulligan said the company sees “lots more opportunity to grow in New York,” including city neighborhoods…“If you go back through time, this is something we’ve done over and over again,” he said. “And when we close a store in a market, it doesn’t mean we stop investing in that market.” Read more

 

Scientists Warn of Parents’ Soaring Melatonin Use at Newsweek. “Nearly 1 in 5 kids and preteens in the United States take the hormone to aid their sleep, and many parents regularly give it to their preschool-age children. This has concerned scientists, according to a new paper in the journal JAMA Pediatrics, as melatonin product safety and efficacy data is scarce, and they often lack full Food and Drug Administration (FDA) regulation.” Read more

 

Stars flock to Jeff Bezos and Lauren Sanchez’s A-list engagement party at NY Post. “We hear legends like Oprah Winfrey and Barbra Streisand rubbed elbows with stars such as Kim Kardashian, Chris Rock and Salma Hayek at the bash. Disney CEO Bob Iger made the rounds along with Kris Jenner, Rita Wilson, Gayle King, Jessica Alba, designer Stacy Bendet and Hugh Jackman’s ex, Deborra-Lee Furness.” Read more

 

Can. Tire Cuts | Boris Likes Bentonville | Casey’s @ Texas

 

Canadian Tire laying off 3% of corporate staff at CBC “…cites ‘softening consumer demand’ for decision to scale back…Canadian Tire comparable store sales fell by 0.6 per cent. SportChek sales were down by 7.4 per cent. Sales at Mark’s eked out an increase of 0.2 per cent.” Read more

 

Amazon to Expand Grocery Delivery, Resume Supermarket Openings at Bloomberg. “(Claire Peters) said the company plans to resume opening new Fresh stores in 2024, after a pause of more than a year. Amazon also has redesigned five locations, including three in the Los Angeles area that wrapped up renovations recently. “We will have a good pipeline for next year,” Peters said. “What we won’t do is open stores aimlessly.” Read more

 

Pharmacy walkout organizers help launch national push to unionize pharmacists, technicians at CNBC. “The push to unionize, dubbed “The Pharmacy Guild,” also calls for legislative and regulatory change to establish higher standards of practice in pharmacies to protect patients…the vast majority of pharmacists and technicians from Walgreens and CVS have no union representation…” Read more

 

Global fashion brands say to raise purchase prices for Bangladesh-made clothes at Reuters. “Global fashion retailers including H&M and Gap are committed to raising purchase prices for Bangladesh-made clothing to help factories there offset higher workers’ wages…This week, after deadly protests between police and factory workers, the government mandated an almost 60% raise to the minimum monthly wage to 12,500 taka ($113) from December, the first increase in five years.” Read more

 

Loblaw says Canada’s ‘code of conduct’ could cost consumers more than $1 billion at Bloomberg. “If in the end, Loblaw and/or Walmart Canada decide not to sign on to the code, Graydon said another route may be necessary to address the sector’s issues. “I think we will need to have some very interesting conversations with a number of governments around regulation,” he said.” Read more

 

Amazon beefs up Prime loyalty program with One Medical discount at CNBC. “Amazon is integrating One Medical into its Prime membership service after acquiring the primary health-care provider in July 2022 for roughly $3.9 billion. One Medical operates a network of boutique primary-care practices in some parts of the U.S., primarily around major cities.” Read more | WSJ subs. 

 

Former British prime minister Boris Johnson compares Bentonville to heaven at NWA Online. “Boris Johnson, former prime minister of the United Kingdom, told a Bentonville crowd Wednesday he has a more “firm view of the afterlife” from attending the Heartland Summit there, comparing the town to “heaven, absolute heaven” after bicycling along trails there earlier that day.” Read more

 

Casey’s Expands to Texas at WFAA. “Casey’s General Stores, Inc., which claims to be the third largest convenience retailer in the United States, announced that it plans to purchase 22 convenience stores in Texas and open some Casey’s in their place.” Read more

 

Amazon makes job cuts in music division at GeekWire

 

Dillard’s Q3 comp store sales decrease 6% “The Company noted a challenging sales environment during the quarter with particular weakness beginning in September. Cosmetics was the strongest performing category followed by home and furniture. Juniors’ and children’s apparel was the weakest category.” Press release

 

At Home Chairman and CEO Lee Bird to retire after 11 years with company Press release

 

More Executives Vanish in China, Casting Chill Over Business Climate at WSJ. “The chief executive at livestreaming company DouYu and the chairman of a pharmaceutical business are the latest to go missing.” WSJ subs. 

 

Kohl’s Announces Board Leadership Transition – Ex-Home Depot Exec Adolfo Villagomez Appointed to Board Press release

 

Former Wegmans employee sentenced for stealing $500,000+ through fraudulent refunds at WHAM. “Prosecutors said she used the Enterprise System between 2014 and February 2023 to process approximately 350 credit card refund requests worth a total of $568,021.69 in customers’ names.” Read more

 

Jeff Bezos’ new home ‘Billionaire Bunker’ island outside Miami has a rich history ‒ literally at USA Today. Read more

 

US Foods Q3 net sales increased 2.1% to $9.1 billion Press release

 

Your New Co-Worker Is a Total Drill Sergeant. Literally. at WSJ.”Businesses’ interest in a Pentagon program that connects service members to companies grew so intense over the summer that the Department of Defense temporarily stopped taking applications from companies to join the ranks of private-sector partners. The SkillBridge program, as it’s known, had 150 participating employers in 2019. Today there are more than 3,800—including Bank of America, Lowe’s and Deloitte—and applications recently reopened, following a review of how to handle the staggering demand.” WSJ subs.