H.Depot Big Buy | Xi: Can’t Go Back | BJ’s +5

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Home Depot is acquiring specialty distributor SRS for $18.25 billion in huge bet on growing pro sales at CNBC. “The acquisition is the largest in Home Depot’s history…CEO Ted Decker…said the deal increases Home Depot’s total addressable market by $50 billion. SRS Distribution sells supplies to professionals in the landscaping, pool and roofing businesses…has approximately 11,000 employees and 760 branches across 47 states. It also has a fleet of 4,000 delivery trucks and a dedicated salesforce that caters to the home pros, Decker said.” Read more

 

Walgreens Boots Alliance Q2 sales increased 6.3 percent year-over-year to $37.1 billion Press release

 

…Walgreens takes $5.8 bln hit on VillageMD bet amid CEO focus on profit at Reuters. “The impairment follows years of investment in the cash-burning operator of doctors’ clinics during Rosalind Brewer’s tenure as Walgreens CEO. Brewer wanted to expand the company’s reach as a healthcare provider.” Read more

 

China’s Xi tells U.S. CEOs that bilateral relations can have a ‘brighter future’ at CNBC. “The relationship cannot go back to the old days, but it can embrace a brighter future.” “China and the United States should help rather than hinder each other’s development, both in traditional areas such as trade and agriculture, and in emerging areas such as climate change and artificial intelligence,” the readout said.” Read more

 

More than a third of Gen Zers and millennials expect their parents to help with a down payment at Yahoo Finance

 

Protesters block entrances at Amazon HQ, objecting to planned use of fossil fuels in Oregon at GeekWire. “A Washington-based group called the Troublemakers organized the action, calling on the tech giant to cancel its plans to use natural gas from a new pipeline being built in Oregon. The gas would be used to power three data centers in the state.” Read more

 

Walmart can break off Capital One card partnership early, judge says at Yahoo Finance

 

Trader Joe’s upped the price of its bananas for the first time in decades as AP News. “Trader Joe’s recently upped the price for a single banana to 23 cents, a 4-cent — or 21% — increase from the grocer’s previous going rate for the fruit that had remained unchanged for over 20 years.” Read more

 

Diddy disappears from Macy’s, heavily marked down at Walmart as sources say sex trafficking probe under way at Fortune

 

BJ’s Wholesale to Open Five New Clubs in the Southeast and Midwest

  • Maryville, Tennessee, in the Knoxville market. This will be BJ’s fourth location in Tennessee
  • Myrtle Beach, South Carolina, the company’s second club in South Carolina
  • Palm Coast and West Palm Beach, Florida, the company’s 38th and 39th clubs in Florida
  • Carmel, Indiana, BJ’s second location in Indiana

 

Walmart will refile review application for its planned acquisition of Vizio to give regulators more time to review the deal at Reuters

 

Some Leaders of the Texas GOP Have Found a New Enemy: H‑E‑B Chairman Charles Butt at Texas Monthly. “This weekend, party officials in four counties in East and Southeast Texas voted to condemn the “Democrat billionaire” for involving himself in “advocating for policies contrary to the Republican Party of Texas platform.” Read more

 

Amazon’s senior employees may not get a cash pay raise this year at Reuters. “For this year’s compensation cycle, we are prioritizing cash base pay increases for employees whose compensation is weighted more heavily in base pay as opposed to stock,” an Amazon spokesperson said in an emailed statement.” Read more

 

Entrepreneur brothers broker deal with Lowe’s CEO Ellison during the 2023 Liberty Univ. CEO Summit at Liberty Champion. “Liberty University’s CEO Summit provides students with the unique opportunity to network with and learn from over 600 prominent figures…Adelin ended up approaching the CEO…(Ellison) looked at it and was basically like, ‘Good, I like this. Email me and we’ll put you in contact with our team.’ That was definitely the favor of God — it was incredible.” Read more

 

Businesses are in the ‘third quarter’ of the AI contest, says Walmart International’s CEO at Fortune (subs. required)

 

REI is building a campground near Grand Canyon National Park at Arizona Republic/USA Today. “(REI) recently purchased 20 acres of land south of Grand Canyon National Park for a Signature Camp that will host guests taking REI’s Grand Canyon trips. REI’s Grand Canyon campground will be its fourth Signature Camp. Others are near Bryce Canyon, Zion and Great Smoky Mountains national parks.” Read more

 

Amazon invests additional $2.75B into AI startup Anthropic at Yahoo Finance

 

***Advertising inquiries, new product searches, comments, questions, etc., contact Jason Long at jlong@eyeonretail.net

Swipe Fees Hit | WM Not a Supermarket? | Cocoa $10K

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Visa, Mastercard agree to lower credit-card fees in landmark merchant settlement at MarketWatch. “Through the blockbuster agreement, which merchants say is one of the largest in U.S. antitrust history, Visa and Mastercard will lower published credit-card interchange fees by four basis points in the U.S. for at least three years. The companies also won’t raise interchange fees for five years above the rates that were in place at the end of 2023.” Read more | Press release

 

Amazon launches same-day prescription delivery in New York and Los Angeles at CNBC. “San Bernardino, Riverside and Anaheim, which are all in the LA area, are eligible for same-day prescription deliveries starting Tuesday. The broader LA metro area will be up and running in April. The company plans to add more than a dozen other cities by the end of the year.” Read more

 

A $20 Billion Deal Depends on Whether You Think Walmart Is a Supermarket at WSJ. “The FTC argues in its lawsuit that many grocery sellers used by consumers aren’t one-stop-shop supermarkets. The lawsuit doesn’t list Walmart as a direct competitor to a combined Kroger and Albertsons. The FTC also alleged that Whole Foods isn’t a true competitor, because of its higher prices and focus on brands that many supermarkets don’t carry.” WSJ subs.

 

British grocery price inflation slows to 4.5%, Kantar says at Reuters

 

Cocoa prices hit $10,000 per metric ton for the first time ever at CNBC. “Difficult weather conditions and disease have impacted production in West Africa, which produces about 70% of the world’s cocoa.” Read more

 

Bird flu, weather and inflation conspire to keep egg prices near historic highs at AP

 

Costco will crack down on non-members eating at food courts at Fox Business. “One of the challenges is that some of the food courts have gotten so busy, particularly if it’s near some office buildings or construction sites. We were getting member complaints,” Galanti told (Axios) about the crackdown.” Read more

 

Sunnova named exclusive national solar and battery storage services provider for Home Depot Press release

 

Costco shoppers know this cashier for his personality and ballroom dance moves at North Jersey. “Mistrette’s customers love him. He talked of one special moment when a little boy sitting in the cart reached out and hugged him around the neck as he passed by. “As he comes by he hooks my neck and puts a hug on me. Well, I had to just hug him right back,” Mistrette said, revealing just how much the moment meant to him.” Read more

 

Academy Sports + Outdoors to open 15-17 new stores in its fiscal 2024 year Press release

 

Head for Walmart’s Neighborhood Markets appointed at NWA Online. “Kyle Kinnard, who works for Walmart U.S. as a senior vice president and general merchandising manager of the home category, will take on Buncum’s role…Before Kinnard’s work with Walmart U.S., he worked at Sam’s Club for 22 years…including stints as senior director of operations in China and as president of Sam’s Club Mexico.” Read more

 

Alibaba to buy Cainiao stake for up to $3.75 billion as it drops IPO plan at Reuters

 

Costco plans appliance and furniture showroom in South Anchorage at Anchorage Daily News. “Costco currently uses the building to distribute merchandise…Lasley said Costco also runs an appliance and furniture showroom warehouse in San Juan, Puerto Rico.” Read more

 

Pandion, an e-commerce delivery startup led by Amazon Air founder, lands $41.5M at GeekWire

 

Fed-up Reddit users planning boycott of all Loblaw stores at Toronto Sun. “Among the asks of the grocery giant, the group wants a 15% reduction in prices and for Loblaw to remove its member-only pricing associated with its PC Optimum card.” Read more

‘ZenBooths’ @ Amazon | Dick’s Stock Pops | Refund Schemes @ TikTok

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Dick’s Sporting Goods Q4 comp sales +2.8% (vs. +0.8% expected) / Largest sales quarter in company history Press release

 

…Dick’s Sporting Goods soars past holiday quarter estimates, raises dividend 10% at CNBC. “For fiscal 2024, Dick’s is expecting earnings per share to be between $12.85 and $13.25, compared with estimates of $12.90, according to LSEG…expects same store sales to rise by 1% to 2%.” Read more

 

Amazon plans ‘Big Spring Sale’ that’s not just for Prime members starting March 20 at CNBC. “…the “Big Spring Sale,” will run for six days starting March 20, in North America. Unlike the Prime Day discount bonanza typically held in the summer, next week’s event will be open to shoppers who don’t pay for a Prime membership….Spring fashion, fitness products, outdoor furniture, Amazon-branded devices and other “warm weather essentials” are among the categories that will be discounted, Amazon said. It’s the first time Amazon has held such an event in the first quarter.” Read more

 

Dollar General Q4 comp sales up 0.7% Press release

 

US retail sales rebound in February at Reuters. “Retail sales rose 0.6% last month, the Commerce Department’s Census Bureau said on Thursday. Data for January was revised lower to show sales tumbling 1.1% instead of 0.8% as previously reported. Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, rising 0.8% in February.” Read more

 

Dollar Tree, Inc. Q4 comp sales: Dollar Tree +6.3%; Family Dollar -1.2%; Enterprise +3.0% Press release

 

…Dollar Tree to close around 1K Family Dollar stores at Fox Business. “…will close 600 of its Family Dollar stores in the first half of 2024. An additional 370 Family Dollar stores and 30 Dollar Tree stores will close over the next several years…” Read more

 

Arkhouse, Macy’s in talks for due diligence amid push for higher bid at Reuters. “The fact the two sides are working on trying to reach an agreement signals a significant step in the discussions. Despite the movement, Arkhouse still intends to continue its proxy fight,” a person familiar with Arkhouse’s plans told Reuters.” Read more

 

Amazon’s ‘ZenBooths’ a ‘slap in the face’ to stressed warehouse workers told to think happy thoughts at NY Post. “A warehouse employee…leaked a screenshot of a meditation and wellness guide from the company that encourages workers to “close your eyes and think about something that makes you happy.” The screenshot — which also shows a timer at the top right corner of the screen, saying “Repeat until timer ends” and showing 10 seconds left — was leaked by a worker at one of the company’s fulfillment centers…” Read more / Pics

 

Home Depot expands Pro ecosystem with four new distribution centers “The new distribution centers will stock large, bulky merchandise like lumber, insulation, roofing shingles and more…new distribution centers are expected to open in the first half of the year.” Press release

 

Trader Joe’s $3 mini totes went viral on TikTok. Now, they’re reselling for hundreds at AP News. “The mini totes are offered in four colors — blue, red, green, and yellow — and they are all in high demand. The bags, retailing for $2.99, are now advertised on platforms like eBay and Facebook Marketplace for many times their original price.” Read more

 

Amazon’s latest AI feature will let sellers generate product listings from their existing websites at GeekWire

 

Petco CEO steps down at San Diego Union-Tribune. “With Ron Coughlin’s departure, Petco’s board has appointed R. Michael (Mike) Mohan as interim CEO. Monhan has vast retail industry experience as the former president and chief operating officer of Best Buy where he led global operations, sales, merchandising and marketing for the business.” Read more

 

…Petco Q4 comp sales down 0.9% Press release

 

Amazon’s new NWSL merch deal may have broader implications at Sportico. “NWSL’s new Amazon tie-up is part sponsorship, part retail partnership, and part licensing arrangement. Amazon will become the league’s “exclusive retail partner” (that’s the sponsorship), and will be authorized to sell some official NWSL product…” Read more

 

Refund fraud schemes promoted on TikTok, Telegram are costing Amazon and other retailers billions of dollars at CNBC. “Refund fraud, which involves tricking retailers into refunding a customer for a purchase without an item being physically returned, has become so pervasive that groups now market their services on Reddit, TikTok and Telegram. Type in “refund method” — or “r3fund,” to skirt content moderators — on TikTok and videos will pop up of users showing off piles of cash, sneakers and iPhones.” Read more

 

75th Consumer Expenditures Study: Taking the Pulse of Shopper Attitudes at Progressive Grocer

 

Jeff Bezos’ philanthropic fund is pouring $60 million into alternative meats to try to make them taste better at Business Insider. “The $60 million will go into establishing research centers, which will work to improve quality and nutrition…”There are also enormous opportunities to enhance the texture and boost flavor through innovation in cell biology and engineering,” it said.” Read more

 

DoorDash Expands Food Access for SNAP Customers – Adds Over a Dozen New Grocers with 6,000 Locations Press release

 

EU opens probe into Alibaba’s AliExpress over illegal content, pornography on platform at CNBC. “Other areas of the probe include how AliExpress recommends products to users and whether the e-commerce site complies with a rule that allows a searchable repository of ads that are provided on the platform.” Read more

 

***Eye on Retail Tipsheet will not be published next week but will return on March 26th!

 

 

WM DFW Strategy | CNBC Exposes Crime | Galanti Exit Iview

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Inside the organized crime rings plaguing retailers including Ulta, T.J. Maxx and Walgreens at CNBC. “These organized theft groups don’t typically carry out the splashy “smash and grab” robberies seen in viral videos. Instead, they pilfer goods quickly, quietly and efficiently…CNBC has spent about eight months embedding with various law enforcement agencies and investigating theft groups to understand what organized retail crime looks like from the ground.” Read more

 

….Ulta CEO says e-commerce sites can do more to stop the sale of stolen goods “We shouldn’t have an environment where it’s possible to steal from one retailer and [have it] end up on any other platform, any other large-scale, mainstream platform,” Kimbell said, without mentioning Amazon.” Read more/Video

 

Kohl’s Q4 comp sales down 4.3% Press release

 

…Kohl’s joins department store retailers to warn of weak 2024 growth at Reuters. “While Kohl’s beat bottom-line expectations by managing inventory down and boosting its margins, it has plenty more work to do as its top-line results fell short,” said Zak Stambor, senior analyst at Insider Intelligence.” Read more

 

…Babies R Us coming to about 200 Kohl’s stores Press release

 

Walmart discusses Dallas-Fort Worth strategy at Dallas Morning News/NWA Democrat Gazette. “Dallas-Fort Worth made sense “for us to bring all of the future in one place at one time,” said Dave Guggina, executive vice president of supply chain for Walmart U.S. “Dallas is a pretty special place for us. It’s really a unique place in the country.” Read more

 

Walmart Wants to Teach Store Managers Compassion at NY Times/Yahoo. “Most weeks, Walmart flies a group of 50 from across the country — about 1,800 last year in all, with 2,200 expected this year — to what it calls its Manager Academy…The attendees receive an hourlong tour around headquarters where passing executives stop and chat — and are sometimes peppered with questions about the business.” Read more

 

Why Walmart’s quick success in generative AI search should have Google worried at CNBC. “We’re going to see this become a norm for online retailers,” said Jacob Bourne, analyst at Insider Intelligence. “Google is anxious is about search in general, and the question this raises is will it be a death by a thousand cuts for Google Search?” Bourne said.” Read more

 

Casey’s Q3 inside same-store sales increased 4.1% Press release

 

Costco’s Outgoing CFO Gets Candid About 40-Year Tenure at Progressive Grocer. “One of my kids was in the office a few weeks back. He came up to my cubicle and we went to go down to the commissary to have a bite to eat and someone asked, “Are you excited about your dad’s retirement?’ And he said, “Frankly, we are a little concerned – ‘What he is going to do?’” Interview

 

Macy’s, Inc. names Michael Krans VP, Macy’s Media Network “Krans joins Macy’s, Inc. following his most recent role leading the fashion team at Walmart Connect…” Press release

 

Ikea is cutting prices as inflation eases — and more could be on the way at CNBC. “This is the moment for companies like Ikea to invest in pricing rather than profitability,” he said, adding that a lot of people now have “thinner wallets.” The price cuts, which started in Europe in September, have led to an increase in customers, as well as an increase in items sold by the retailer, according to Öncü.” Read more

 

Judge rules in favor of a Safeway worker who was fired after trying to stop a shoplifter at Yahoo News

 

Rite Aid advisers rake in millions. Opioid victims brace for nothing at Bloomberg/Seattle Times. “While rivals Walmart, CVS and Walgreens agreed to pay more than $13 billion combined to settle opioid lawsuits, Rite Aid never reached a similar accord before its bankruptcy filing put litigation on hold…And unlike drugmakers that have gone bankrupt, the retailer doesn’t expect it will wind up with any money to pay opioid victims.” Read more

 

The South’s Best Travel Stops 2024 (Buc-ee’s #1, Love’s #2, QT #3) at Southern Living

 

Advance Auto Parts to add three board members as activist investors take stake at Reuters

 

WM DFW Strategy | CNBC Exposes Crime | Galanti Exit Iview

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Inside the organized crime rings plaguing retailers including Ulta, T.J. Maxx and Walgreens at CNBC. “These organized theft groups don’t typically carry out the splashy “smash and grab” robberies seen in viral videos. Instead, they pilfer goods quickly, quietly and efficiently…CNBC has spent about eight months embedding with various law enforcement agencies and investigating theft groups to understand what organized retail crime looks like from the ground.” Read more

 

….Ulta CEO says e-commerce sites can do more to stop the sale of stolen goods “We shouldn’t have an environment where it’s possible to steal from one retailer and [have it] end up on any other platform, any other large-scale, mainstream platform,” Kimbell said, without mentioning Amazon.” Read more/Video

 

Kohl’s Q4 comp sales down 4.3% Press release

 

…Kohl’s joins department store retailers to warn of weak 2024 growth at Reuters. “While Kohl’s beat bottom-line expectations by managing inventory down and boosting its margins, it has plenty more work to do as its top-line results fell short,” said Zak Stambor, senior analyst at Insider Intelligence.” Read more

 

…Babies R Us coming to about 200 Kohl’s stores Press release

 

Walmart discusses Dallas-Fort Worth strategy at Dallas Morning News/NWA Democrat Gazette. “Dallas-Fort Worth made sense “for us to bring all of the future in one place at one time,” said Dave Guggina, executive vice president of supply chain for Walmart U.S. “Dallas is a pretty special place for us. It’s really a unique place in the country.” Read more

 

Walmart Wants to Teach Store Managers Compassion at NY Times/Yahoo. “Most weeks, Walmart flies a group of 50 from across the country — about 1,800 last year in all, with 2,200 expected this year — to what it calls its Manager Academy…The attendees receive an hourlong tour around headquarters where passing executives stop and chat — and are sometimes peppered with questions about the business.” Read more

 

Why Walmart’s quick success in generative AI search should have Google worried at CNBC. “We’re going to see this become a norm for online retailers,” said Jacob Bourne, analyst at Insider Intelligence. “Google is anxious is about search in general, and the question this raises is will it be a death by a thousand cuts for Google Search?” Bourne said.” Read more

 

Casey’s Q3 inside same-store sales increased 4.1% Press release

 

Costco’s Outgoing CFO Gets Candid About 40-Year Tenure at Progressive Grocer. “One of my kids was in the office a few weeks back. He came up to my cubicle and we went to go down to the commissary to have a bite to eat and someone asked, “Are you excited about your dad’s retirement?’ And he said, “Frankly, we are a little concerned – ‘What he is going to do?’” Interview

 

Macy’s, Inc. names Michael Krans VP, Macy’s Media Network “Krans joins Macy’s, Inc. following his most recent role leading the fashion team at Walmart Connect…” Press release

 

Ikea is cutting prices as inflation eases — and more could be on the way at CNBC. “This is the moment for companies like Ikea to invest in pricing rather than profitability,” he said, adding that a lot of people now have “thinner wallets.” The price cuts, which started in Europe in September, have led to an increase in customers, as well as an increase in items sold by the retailer, according to Öncü.” Read more

 

Judge rules in favor of a Safeway worker who was fired after trying to stop a shoplifter at Yahoo News

 

Rite Aid advisers rake in millions. Opioid victims brace for nothing at Bloomberg/Seattle Times. “While rivals Walmart, CVS and Walgreens agreed to pay more than $13 billion combined to settle opioid lawsuits, Rite Aid never reached a similar accord before its bankruptcy filing put litigation on hold…And unlike drugmakers that have gone bankrupt, the retailer doesn’t expect it will wind up with any money to pay opioid victims.” Read more

 

The South’s Best Travel Stops 2024 (Buc-ee’s #1, Love’s #2, QT #3) at Southern Living

 

Advance Auto Parts to add three board members as activist investors take stake at Reuters

 

Kroger -0.8% | BJ’s #21 | H.Depot +Women | Cinnamon +Lead

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Kroger Q4 identical sales (ex-gas) down 0.8% Press release

 

BJ’s Wholesale Q4 comps up 0.5% (ex-gas) Press release

 

…BJ’s to enter 21st state @ KY

 

Newsweek: America’s Greatest Workplaces for Women 2024 (Home Depot, Wegmans, Bath & Body Works…) “These 1,000 U.S.-based companies ranked highest when evaluated on metrics including compensation, work-life balance and proactive management on diversity.” List

 

Duluth Trading Q4 net sales up 1.6% / Retail store net sales decreased by 12.2% Press release

 

Temu’s Push Into America Pays Off Big Time for Meta and Google at WSJ. “Temu, spent nearly $2 billion on advertisements last year at Meta, according to people familiar with the matter, surprising executives (at Meta)…Temu also became one of Google’s top five advertisers by spending last year…Goldman Sachs estimated that Temu’s marketing spending contributed to an average loss of $7 an order in 2023…” WSJ subs.

 

American Eagle Outfitters, Inc. Q4 revenue up 12%…Comps: American Eagle up 6% / Aerie up 13% Press release

 

…Abercrombie & Fitch Is Reaping the Rewards of Taking Adult Women Seriously at WSJ. “Executives drew inspiration from Abercrombie’s heritage in the 1890s, when its marketing promoted clothes designed for “the great escape.”. “When you think about the concept of a great escape, and you put that into today’s 20-something vernacular, it’s the long weekend,” Collins Krug said. “So we started with understanding that 96-hour period in our customers’ lives.” The long weekend for the typical Abercrombie customer no longer entails bonfires on the beach or hitting the clubs until dawn…” WSJ subs.  

 

Zulily set to relaunch under new owner Beyond, now led by Marcus Lemonis of ‘The Profit’ fame at GeekWire. “The company’s social media accounts sent a message Wednesday evening: “The only purple that saves you money. Coming soon.” Marcus Lemonis…posted the same message on Wednesday from his own account.” Read more

 

Clark: Walmart focused on people and technology for future success at Talk Business. “Cedric Clark, executive vice president of store operations for Walmart’s U.S. segment…recently presented at the WalStreet Breakfast event for suppliers in Bentonville…He said store remodels that feature product vignettes and mannequins to help better merchandise inventory is a big step with the previous stack-them-high-and-watch-them-fly philosophy. “We are not trying to be Target, but we are looking at our stores differently today,” he said.” Read more

 

Amazon teams with recycling robot firm to track package waste at TechCrunch. “Glacier’s offering revolves around two primary products. The first is a robot that is primarily deployed in recycling facilities to sort through different materials…The second is an AI scanner. The second is the one Amazon is piloting.” Read more

 

JD gives China bargain hunters glimmer of hope at Reuters. “JD increase(d) revenue in the final three months of 2023 to $43 billion, a better-than-expected 3.6% increase on the previous year. Keeping expenses in check meant earnings jumped by an even better 13%.” Read more

 

The Buckle, Inc Feb. comp sales down 11.5% Press release

 

Foot Locker’s stock down sharply at MarketWatch. “The stock plummeted 30.8% in afternoon trading…Prior to the selloff, the stock had run up 106.2% since it closed at a 13-year low of $16.64 on Aug. 23, 2023…“proactively reinvested in markdowns” to reduce inventory…was “more aggressive” in cutting prices in areas where inventory levels were “challenged,” particularly in apparel.” Read more

 

Federal Investigators suggested that banks query transactions with keywords like Dick’s Sporting Goods, Cabela’s & Bass Pro Shops at Fox News

 

India’s Flipkart readies quick-commerce play at TechCrunch. “The firm, majorly owned by Walmart, plans to make the instant-delivery service available in select locations as early as May this year, the source said, requesting anonymity as the matter is private. The deliberations are ongoing and the timeline may slightly change, the source cautioned.” Read more

 

Why Amazon Is Paying $650 Million for Access to Nuclear Power at Inc. “While AWS’ deal wouldn’t be the first time providers turned to nuclear for additional power for AI, it does represent the first campus with direct nuclear power access. That proximity, however, had given some cloud providers pause due to safety concerns…” Read more

 

United Natural Foods, Inc. Q2 net sales down 0.5% / Giorgio Matteo Tarditi named President and CFO 

 

Ground cinnamon sold at discount stores is tainted with lead, FDA warns at AP News. “The U.S. Food and Drug Administration said cinnamon sold by stores including the Dollar Tree and Family Dollar contains lead at levels that could be unsafe for people, particularly children, with prolonged exposure to the spice.” Read more

Target Pops | Digit Works | AI Junk Bots | B.Buy Ethical

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Target Q4 comp sales down 4.4% Press release

 

…Target is launching a paid membership program, Target Circle 360 at CNBC. “…will include unlimited free same-day delivery for orders over $35 in as little as one hour with no delivery fees and two free-day shipping, along with other perks. The paid membership tier will launch in early April and cost $49 per year, said Cara Sylvester, Target’s chief guest experience officer.” Read more

 

…Target shares pop as retailer boosts profits, despite lackluster sales forecast at CNBC. “In an interview Tuesday with CNBC’s “Squawk Box,” CEO Brian Cornell said the company has made “really solid progress” in managing inventory better and becoming more efficient. He said the retailer will focus on “growing traffic and making sure that we make Target a growth company again.” Read more

 

Apple iPhone sales slump 24% in China to start the year at MarketWatch

 

Humanoid Robots at Amazon Provide Glimpse of an Automated Workplace at Bloomberg. “Employees at an Amazon.com Inc. warehouse near Seattle recently got a glimpse of the future of work: a 5-foot-9-inch robot that resembles a human, walks like a bird and has glowing white eyes. Called Digit, the machine is configured for one basic task: plucking empty yellow bins off a shelf and ferrying them several feet to a conveyor. Then doing it again. Over and over and over.” Read more / Video

 

Whole Foods Market to Open Smaller Format Stores in Urban Markets “…called Whole Foods Market Daily Shop, will initially launch on the Upper East Side in Manhattan with additional locations in NYC to follow…Following the NYC  launch, Whole Foods Market plans to bring the format to other cities across the country. Ranging between 7,000 to 14,000 square feet…” Press release 

 

Labor unions end Starbucks boardroom fight after progress on bargaining at Reuters. “The Strategic Organizing Center (SOC), a coalition of North American labor unions, is withdrawing its three director candidates to the coffee chain’s 11-member board…The fight was closely watched on Wall Street because it marked the first time a labor union used tools traditionally employed by hedge funds to push for board seats at a corporation.” Read more

 

Will AI change how we shop? What it’s like to use Amazon’s new Rufus assistant at GeekWire. “Did I mention that this is a beta? These kinds of inconsistencies are familiar to those testing and using some of the latest AI services. Amazon is still working out the kinks, and asking for feedback from early users in the form of thumbs up or down on specific responses, and the ability to provide more detailed input.” Read more

 

…We tested Amazon’s new shopping chatbot. It’s not good. at Washington Post (!). “…when so many AI chatbots overpromise and underdeliver, it’s a tax on your time, your attention and potentially your money. I just can’t with all these AI junk bots that demand a lot of us and give so little in return. To the companies stuffing mediocre chatbots into everything, I ask: What are you doing?” Read more

 

5 dead after plane crashes behind Costco store in Nashville at WKRN

 

The North Face offers 20% discount for completion of racial inclusion and allyship course at Washington Examiner. “Intended for people who work and operate in the outdoor industry, the training lasts an hour. During the training, one learns about the limitations people of color face when it comes to enjoying the outdoors, the impact of events such as the death of George Floyd, and the aim of creating an “equitable outdoors for everyone.” Read more

 

China’s Huawei and Amazon in patent licensing agreement at Reuters

 

From unicorn to bust: Inside the fall of Seattle online retailer Zulily at Seattle Times. “The Seattle Times spoke with 10 former Zulily employees about the meteoric rise and swift fall of a company they all said they once loved. Employees asked to remain anonymous to protect current or future job prospects. All said they were saddened to see Zulily’s collapse — and said things could have gone differently under different leadership.” Read more

 

The 2024 World’s Most Ethical Companies Honoree List (Best Buy, Kohl’s…) Read more

 

How Chinese retailers can offer Americans steep bargains on clothes and why that could change at AP News. “The answer has much to do with a trade rule known as the de minimis exception, which allows parcels valued under $800 to enter the U.S. duty-free per person per day…a group of 40 lawmakers asked Homeland Security Secretary Alexander Mayorkas to crack down on the de minimis trade…A bill introduced in the Senate would make the practice reciprocal. China, for example, sets the de minimis threshold at about $7.” Read more

 

Petition to shut down Wegmans’ fish market gets 4,000 signatures at Supermarket News

 

Anthropic, backed by Amazon and Google, debuts its most powerful chatbot yet at CNBC. “The new chatbot has the ability to summarize up to about 150,000 words, or a lengthy book, compared to ChatGPT’s ability to summarize about 3,000.” Read more

 

Joann on the brink of Chapter 11 bankruptcy at Akron Beacon Journal. “The retailer with some 830 stores across 49 states has been working to trim costs and employees.” Read more

 

***Advertising inquiries, new product searches, comments, questions, etc., contact Jason Long at jlong@eyeonretail.net

WM Outage | B.Buy -4.8% | Target #91 Sustainable

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Best Buy Q4 comp sales down 4.8% “Bilunas (CFO): “For Q1 FY25, we expect comparable sales to decline by approximately 5% and our non-GAAP operating income rate to be approximately 3.4%, which is flat to Q1 FY24.” Press release

 

…Best Buy tops holiday quarter estimates but issues soft full-year guidance at CNBC. “Q4: Earnings per share: $2.72, adjusted vs. $2.52 expected. Revenue: $14.65 billion vs. $14.56 billion expected.” Read more

 

Walmart Computer Glitch Halts Sales and Returns at Stores at WSJ. “The outage began to affect stores Wednesday morning, rendering some registers inoperable, according to store workers and people familiar with the situation. The problem continued to roil hundreds of stores hours later as the retailer worked on technical fixes for the system. The issue has since been resolved…” WSJ subs.

 

Bath & Body Works Q4 net sales up 0.8% Press release

 

Rent the Runway’s Plan for Regrowth Starts With a New Marketing Chief at WSJ. “The fashion rental service on Wednesday named Natalie McGrath as its chief marketing officer, establishing a dedicated marketing leader role for the first time in years. McGrath…had been vice president of marketing at payment company Afterpay…” WSJ subs.

 

Birkenstock beats holiday quarter revenue expectations with 22% year-on-year jump at CNBC

 

Jim ‘Mattress Mack’ McIngvale places $1M wager on Houston to win March Madness at Fox Business. “If the Cougars win the tournament, McIngvale’s earnings will help fund the latest Gallery Furniture promotion. The promotion states that customers will receive a refund if they purchase a Tempur-Pedic mattress and adjustable base priced at $4,000 or more and Houston wins the national title.” Read more

 

TJX Companies, Inc. Q4 consolidated comp store sales increased 5%

…Marmaxx +5% / HomeGoods +7% / TJX Canada +6% / TJX Int’l +3% Press release

 

What is ‘ungraded’ beef? Label at Loblaw-owned grocery store sparks confusion among shoppers at Toronto Star. “Recent reports that Loblaws is selling “ungraded Mexican beef” has prompted some confused shoppers to raise concerns…”My hubby went shopping and didn’t notice the ungraded,” she wrote. “If I had been blindfolded I would not have known what kind of meat I was eating. It was disgusting.” Read more

 

Advance Auto Parts Q4 comp sales down 1.4% Press release

 

This ‘Amazon’s Choice’ video doorbell could let just about anyone spy on you at The Verge. “Amazon didn’t even respond to Consumer Reports findings last we’d heard, much less pull the cameras off its virtual shelves…Shopping app Temu, at least, told CR it would halt sales after hearing just how incredibly easy they are to hack.” Read more

 

Barron’s 100 Most Sustainable U.S. Companies 2024: Best Buy #11 / Kroger #27 / Walmart #61 / Lowe’s #72 / TJX #89 / Target #91 Read more

 

FOX5 rides along with Henderson, Nev. police on retail theft blitz operation at KVVU-TV. “Although Det. McGeahy says most suspects will give up once police make contact, sometimes, these interactions can get violent. “We’ve had some in the past, they’ve had guns, they’ve had pepper spray, we actually had a group that was using tasers,” said Det. McGeahy…The one-day blitz resulted in 17 arrests.” Read more

 

6 Hottest Food Trends at UNFI’s Orlando Show at Progressive Grocer. “More than 6,000 retailers, suppliers and trend-watchers attended the United Natural Foods Inc. Spring and Summer Selling Show this month in Orlando, Fla., and one thing is for certain: Banana water is the new coconut water.” Read more

 

Wonder, Marc Lore’s $3.5 Billion Startup, Has Launched a Food Hall in Walmart at Inc. “The New York City-based food business’s 11th location–inside a Quakertown, Pennsylvania, Walmart–marks the start of its relationship with (Walmart)…The location will offer menu items from eight restaurants through Wonder’s quick-prep model.” Read more

 

In delicate China play, Reckitt turns to livestreaming to sell condoms at Reuters. “There is no clear definition of what vulgar content is – that’s up to the regulator to decide and the system is quite socially conservative,” said Kendra Schaefer, head of tech policy at China-focused research firm Trivium.” Read more

 

***Advertising inquiries, new product searches, comments, questions, etc., contact Jason Long at jlong@eyeonretail.net