WM +4% | Sam’s +3.1% | THD -4% | Loblaw +40

 

Walmart Q4 Comp Sales (ex-fuel): Walmart U.S. +4.0% / Sam’s Club +3.1%

  • Walmart Int’l Q4 net sales +13%
  • Global eCommerce sales grew 23%
  • Global adv business grew ~ 33%, including 22% for Walmart Connect in the U.S. Press release

 

Walmart to buy TV maker Vizio for $2.3 billion in move to grow its ad business at CNBC. “Walmart’s control of the Vizio platform will give companies that advertise with the retailer a greater reach. In a news release, Walmart said Vizio’s SmartCast system has 18 million active accounts.” Read more

 

Home Depot Q4 U.S. comp sales down 4% Press release

 

…Home Depot forecasts weak 2024 results as demand fails to pick up at Reuters. “Foot traffic at Home Depot fell in the fourth quarter, with declines worsening toward January due to harsh winter weather…”There was an expectation … that the company could return to growth sooner than they’re guiding to,” said Jonathan Reid, a director at Fitch Ratings.” Read more

 

The rise and fall of Drizly at Boston Globe. “Sitting on an old Steelcase fabric chair in (college entrepreneurship guru) Gallaugher’s office, Rellas explained that store owners were terrified of big companies like Amazon, had their own delivery infrastructure, and could benefit from a single app with a nationwide brand. “That was actually a really sophisticated insight,” Gallaugher said. “The joke now is that if I convince you to try not to build your business, then you’re probably going to have a successful [business] someday.” Read more

 

Amazon driver fends off attack from drunk, naked NYC migrant — and ends up in cuffs at NY Post

 

CANADA – Loblaw to build more than 40 new stores as part of expansion plan at Toronto Star. “The parent company of Loblaws and Shoppers Drug Mart says it will also expand or relocate another 10 locations. It will renovate more than 700 others.” Read more

 

Alibaba bets on overseas e-commerce unit amid sluggish growth in China at CNBC. “One bright spot in Alibaba’s recent December quarter earnings was its international e-commerce business unit which saw revenue increase 44% from a year ago. Alibaba International Digital Commerce Group includes platforms like AliExpress, Lazada, Daraz and Trendyol.” Read more

 

CANADA – Loblaw, Walmart urged to sign grocery code or risk legislation at Financial Post

 

Flipkart has weighed acquiring Google-backed instant delivery startup Dunzo at TechCrunch. “Flipkart, owned by Walmart, is skeptical about precisely what it would be able to take over if it were to acquire Dunzo, which has several IP relationships with Reliance Retail, India’s largest retail chain…Flipkart leads the Indian e-commerce market and is valued at over $32 billion.” Read more

 

Macy’s receives Director nominations from Arkhouse Press release

 

Guess?, Inc. and WHP Global to Acquire rag & bone “Currently, the brand directly operates 34 stores in the U.S. and two stores in the U.K….In 2023, rag & bone generated unaudited annual revenue of approximately $250 million and adjusted EBITDA of $18 million.” Press release

 

Dillard’s introduces The Coterie Shop Press release

 

TikTok violates Indonesian in-app transactions ban, says minister at Reuters. “TikTok had been forced to close its relatively new e-commerce service, TikTok Shop, in Indonesia after the country banned online shopping on social media platforms last year, citing the need to protect smaller merchants and users’ data.” Read more

 

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

Target’s New Value Brand | C.Tire -6.8% | Retail Sales -0.8%

 

Retail sales fall 0.8% in January from December as shoppers pause after strong holiday season at Yahoo/AP. “Excluding sales at auto dealerships and gas stations, sales were down 0.5%. The decline was bigger than the 0.10% drop that economists expected and marked the lowest monthly figure since March of last year.” Read more

 

Target’s latest answer to inflation angst: A new brand with prices starting at $1 at Minneapolis Star Tribune. “Dealworthy will replace Smartly, a smaller private-label, low-cost brand Target started in 2018 …Target is also revamping one of its larger and more popular owned brands, Up&up. It has been around for 15 years and already generates nearly $3 billion in sales a year. “We did a lot of research, listening to guests and reading reviews,” said (Rick) Gomez. “And we’ve identified the opportunity to improve over 40% of the line.” Read more

 

Canadian Tire Q4 comp sales down 6.8% Press release

 

Walmart, supermarket data prove it: Valentine’s Day is for the procrastinators at Fortune. “Walmart — which sells nearly 40 million red roses for the holiday — says around 75% of its Valentine’s Day sales occur on Feb. 13 and 14. Those two days account for 80% of Kroger’s sales during Valentine’s week.” Read more

 

Shoe Carnival acquires Rogan Shoes, a footwear company with 28 store locations in Wisconsin, Minnesota, and Illinois Press release

 

Alibaba faces reckoning with once-vaunted ‘new retail’ strategy at TechCrunch. “Alibaba is now taking a strategic shift back to its core focus of online businesses, i.e. ecommerce and cloud computing. This move is essential — and urgent — in light of the meteoric rise of its archrival PDD.” Read more

 

Warehousing Demand Is Starting to Shrink at WSJ. “Some businesses now are subleasing space they had added “based on projections that didn’t come to fruition,” said Mark Russo, head of industrial research at Savills. “It was a lot of just-in-case inventory management thinking and thinking that that level of consumption was going to keep going up.” WSJ subs

 

US Foods Q4 net sales grew 4.5% Press release

 

Walmart and Target Are Championing a California Ballot Measure That Could Crack Down on Retail Crime at Inc. “Target has contributed $500,000 to the efforts to repeal Prop 47, and Walmart has given twice that, according to the Orange County Register. The money goes toward campaigns to qualify the measure for the ballot in November.” Read more

 

Instacart lays off 250 employees, or 7% of its workforce, to ‘reshape’ company at TechCrunch

 

Walmart in talks to buy Vizio for more than $2 bln at WSJ/Reuters. “… a move that could bolster its advertising business and give it control of more than a fifth of the U.S. television market.” Read more

 

California grandfather fatally shot while trying to apologize for fender bender at Walmart at Fox News

 

WaWa Billionaires Bet on Taking the Convenience Chain South at Bloomberg. “The Wawa convenience store chain, opened by Grahame Wood in 1964 to sell milk from the family dairy, has built a fiercely loyal customer base by capturing a certain je ne sais quoi about the personality of Philly and South Jersey. With about 1,000 locations and estimated sales of $18.5 billion in 2023, the Wood family’s 53% stake gives them a net worth of $6 billion…” Bloomberg subs.

 

True Religion, the Y2K-era jeans brand that managed to survive two bankruptcies, is exploring a sale at CNBC

 

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

Kroger Pledges | Tide Pods Ban? | NIH Study | Tuna Surprise

 

Kroger pledges to lower prices for consumers when its planned merger with Albertsons closes at MarketWatch. “Kroger Inc., facing regulatory pushback over its plan to merge with rival grocery chain Albertsons Cos. Inc. in a roughly $25 billion deal, said Tuesday it typically lowers prices for consumers after consummating a deal.” Read more | Press release

 

NYC may ban detergent packs including Tide Pods in latest ‘green’ crackdown — with fines up to $1,200 for selling them at NY Post. “Polyvinyl alcohol, or PVA, is used as a film in pods that dissolves in water during a wash cycle. But scientists counter that it breaks down into tiny microplastic pieces that still pollute waterways and slip through filtration systems.” Read more

 

Retail return fraud running rampant, viral TikToks show at Fox Business. “TikToker Bailey Cormier received a can of tuna instead of a luxury ashtray (from Saks)…”This is what I found,” she claimed, holding up the can. “A can of albacore tuna…I don’t know if someone from the warehouse took it and replaced it… but this is the most f—ing expensive can of tuna I’ve ever bought.” Read more

 

Self-gifting is on the rise as consumers enjoy the empowerment of treating themselves at WSJ. “Self-gifting is on the rise for Cupid’s holiday as more consumers grow tired of receiving duds from their spouse or significant other…nearly half the U.S. adult population is unmarried and many say they aren’t looking for a romantic relationship. The trend is a boon for retailers and could help reverse sagging Valentine’s Day sales. Larger companies such as Target and Etsy to smaller jewelers and lingerie sellers are switching up marketing messages and creating special collections to emphasize self-gifting.” WSJ subs. 

 

Shopify shares down after company reports light guidance at CNBC. “Gross merchandise volume, or the total volume of merchandise sold on the platform, increased 23% to $75.1 billion — above the $72.1 billion expected by analysts, according to StreetAccount.” Read more

 

Once pioneering Body Shop UK collapses into administration at Reuters. “The retailer was one of the most popular on the British high street in the 1980s and 1990s but has faced much greater competition from newcomers in recent years…199 stores and online will continue to trade.” Read more

 

Dollar Tree, Inc. COO Mike Creedon adds leadership of Dollar Tree & Family Dollar Merchandising and Supply Chain to his scope “Dollar Tree Chief Merchandising Officer Rick McNeely, Family Dollar Chief Merchandising Officer Larry Gatta and Chief Supply Chain Officer Mike Kindy will report to Mike.” Press release

 

What, Exactly, Should You Eat? Inside the $190 Million Study Trying to Find the Answer at WSJ. “Kevin Elizabeth, a 28-year-old tech worker, is one of 500 Americans who will be living at scientific facilities around the country for six weeks, eating precisely selected meals and undergoing hundreds of medical tests. He is part of a new study, costing $189 million, that is one of the most ambitious nutrition research projects the National Institutes of Health has ever undertaken.” WSJ subs. 

 

Jeff Bezos will save over $600 million in taxes by moving to Miami at CNBC. “In 2022 Washington state imposed a new, 7% capital gains tax on sales of stocks or bonds of more than $250,000…In 2022, when the tax took effect, Bezos stopped selling…After his move to Miami, Bezos made up for lost time.” Read more

 

SpartanNash will expand the use of autonomous inventory robot Tally at 60 additional store locations Press release

 

Junior Achievement of Arkansas to honor CEO of Walmart by Arkansas Democrat-Gazette. “The event — set for May 9 at the Statehouse Convention Center, Governor Halls I and II, in Little Rock — is designed to help pay for costs to nearly 20% of the students JA will reach during the school year.” Read more

 

Father of CVS pharmacist who died calls company memo ‘corporate garbage’ at Fox Business. “For years, Larry Anderson has been fighting to keep his daughter’s story alive, from talking to reporters to putting up billboards along the highway in their state of Indiana, in hopes that there will be a monumental change in an industry that has placed tremendous stress on its workers.” Read more

 

Amazon recognized for contributions to Bellevue’s downtown at GeekWire. “Amazon on Friday said it has opened its latest office building in Bellevue, dubbed Dynamo, and now has more than 11,000 employees working in the city. At 300,000 square feet, the new building includes room for more than 1,500 people…” Read more

 

Consumers have fewer choices as brands prune their offerings to focus on best sellers at AP. “…may also hurt smaller brands who relied on retailers to offer different products — Bob Friedland…said that for years, his go-to barbecue sauce has been Open Pit. But Friedland noticed that over the past few years, his local grocers hadn’t been carrying it, and he’s since turned to Amazon to buy it. That means those local stores not only lost out on Open Pit sales to Friedland. but all the other purchases he used to make while shopping for his favorite barbecue sauce.” Read more

 

Casey’s Hires First-Ever Chief Pizza & Beer Officer “As a proud resident of Casey’s Country and a self-proclaimed pizza and beer aficionado, I’m honored to be the first person to take on this coveted role,” said Joe Cruz, Casey’s new Chief Pizza & Beer Officer.” Press release

 

Score is a new dating app for people with good to excellent credit “There is a new dating app just in time for Valentine’s Day, but there’s a catch: You must have at least a 675 credit score to use it.” Read more

Snoop Dogs WM | Poaching in Seattle | Costco +3.4%*

 

Snoop Dogg, Master P allege Walmart, Post Foods hid their cereal in sabotage plot at CNBC. “Walmart said…“We will respond as appropriate with the Court once we are served with the complaint.”…At a media briefing Tuesday announcing the lawsuit, Master P said the suit “is about minority-owned companies getting a fair share.” Snoop Dogg said, “We ain’t build this brand to sell it.” The rappers are being represented by high-profile civil rights attorney Ben Crump.” Read more

 

Costco January comp sales (ex. gas & f/x) +3.4% “This year’s retail month of January had one less shopping day due to the timing of New Year’s Day. This negatively impacted total and comparable sales by approximately three to three and one-half percent.” Press release

 

Saks Fifth Avenue Debuts New $52M Women’s Store in Beverly Hills at The Hollywood Reporter. “Looking for a private, pink-hued two-story suite with a view of the Hollywood Sign in which to try on the latest designer looks? Look no further than the top floor of Saks Fifth Avenue‘s new Beverly Hills store which opens to the public on Feb. 8, inside the 130,000-square-foot building at 9570 Wilshire Boulevard that once housed Barneys New York.” Read more

 

Walgreens Boots Alliance Announces Leadership Appointments “Mary Langowski joins WBA to lead U.S. Healthcare segment…Manmohan Mahajan, interim since July 2023, appointed permanent chief financial officer…Elizabeth Burger joins WBA as chief human resources officer…” Press release

 

Amazon’s Newest Competitors Are Stepping Into Its Territory—Literally at WSJ. “Fast-fashion company Shein and TikTok’s shopping unit are expanding in Amazon’s territory, seeking to poach Amazon’s employees and building out workspaces in the same Seattle-area office tower. The two companies are bolstering their staff at a 22-story tower near Seattle known as the Key Center, and both are recruiting current and former Amazon employees as they expand their U.S. logistics and supply-chain operations.” WSJ subs. 

 

Target considering new paid membership program at Bloomberg/Reuters. “…similar to Amazon and Walmart, Bloomberg News reported, citing people familiar with the matter. The new program, internally titled as Project Trident, could launch as soon as this year…” Read more

 

Tapestry forecasts higher 2024 profit on China demand, strong margins at Reuters

 

Costco Korea to raise wages by 6.2% as labor relations worsen at The Chosun. “Costco Korea plans to increase the base pay of its store employees by 1,000 won per hour, from $12.2 (16,167 won) to $13 (17,167 won), on Feb. 19. The wage hike surpasses the national minimum wage increase of 2.5% for the year and exceeds the base salary increments of major domestic retailers such as Emart, Homeplus, and Lotte Mart.” Read more

 

San Jose residents say no to Costco at KTVU 2

 

Amazon cutting hundreds of jobs in health care units One Medical and Amazon Pharmacy at GeekWire. “Amazon Health Services Senior Vice President Neil Lindsay said Amazon is seeing “strong momentum and positive customer feedback” across its health care offerings, but a “few hundred” roles would be cut.” Read more

 

Publix VP of Customer Experience Bob Bechtel to retire – promotion of Publix Director of Omnichannel David Finger to VP of customer experience Press release

 

Alibaba shares sink after it shelves IPO plans for two units at CNN. “Net income fell by 77% to just over $2 billion, which the company said was caused by a “decrease in income” from its operations…announcement of a $25 billion share repurchase program, which it said demonstrated its confidence in its business and cash flow outlook, also failed to ignite interest among investors.” Read more

 

Best Buy’s Hubert Joly on Re-Defining Your Company’s Purpose at Harvard Business Review. 29:19 podcast

 

Ahold Delhaize USA Announces Partnerships with DoorDash “…available to customers at each of its local omnichannel brands – Food Lion, Hannaford, Giant Food, The GIANT Company and Stop & Shop. Delivery from DoorDash is expected to be available to customers of all brands by March.” Press release

 

Trader Joe’s shoppers are warned of wallet snatching in Bay Area at Daily Mail

 

American CEOs Visiting China Can’t Escape It: They Have to Dance on Stage at WSJ. “In China, CEOs are allowed to be dorky,” says Barra, who danced and sang a lot while there, often with other senior Xiaomi leaders, who he says would set aside time from their busy schedules to practice their footwork. Barra remains thankful that not all of his performances were public, and thus not all searchable online.” WSJ subs.

 

Masked California thief caught on video brazenly taking dozens of iPhones from Apple Store at Fox Business

 

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

Costco Snags Kroger CFO | TaylorMade Sues Costco | Dick’s Concept @ AZ

 

Costco Announces Richard Galanti Will Step Down as CFO, Names Gary Millerchip New CFO “Gary (served) as Senior Vice President and Chief Financial Officer at The Kroger Co. since April 2019. Gary spent 15 years at The Kroger Co., preceded by more than 20 years in banking…Richard will remain with the Company through January 2025, serving in an advisory role.” Press release

 

…Kroger names Todd Foley, group vice president, corporate controller and chief accounting officer, as interim CFO…will name a CFO successor at a later date Press release

 

Luxury Retailers Are Buying Out Their Landlords at WSJ. “In New York City, Prada recently agreed to buy the building that houses its Fifth Avenue store as well as the building next door for more than $800 million. Gucci’s parent company, Kering, is also paying nearly $1 billion for a 115,000-square-foot retail space a few blocks south. Luxury behemoth LVMH Moët Hennessy Louis Vuitton, meanwhile, is in discussions to purchase the Fifth Avenue retail space occupied by Bergdorf Goodman’s men’s store, according to a person familiar with the matter.” WSJ subs.

 

Amazon ‘censored’ COVID-19 vaccine books after ‘feeling pressure’ from Biden White House: docs at NY Post. “The email states that a tweak to the bookseller’s website that would redirect more customers searching certain keywords to the Centers for Disease Control and Prevention website was in the works and that a screenshot of that change should be sent to the White House, but it warned employees to play coy with the Biden administration about potential further actions.” Read more

 

TaylorMade Sues Costco for Patent Infringement Over Kirkland Brand of Irons at Golficity. “Included in the court filing are 11 exhibits that TaylorMade says proves Costco infringed on patents held by the plaintiff. The complaint also says an engineer who is currently with SCDC used to work for TaylorMade.” Read more

 

New Macy’s CEO Tony Spring looks to revive a 166-year-old retailer fighting for relevance at CNBC. “In CNBC interviews, current and former Macy’s employees, industry leaders and investors said Spring will bring a deep retail background, a merchant’s sharp eye and credibility with coveted national and global brands from his decades at Bloomingdale’s. Yet they acknowledged the new CEO will have his hands full. Some expressed concern that as a longtime executive at the company, Spring won’t bring the same scrutiny an outsider would.” Read more

 

Gap names fashion designer Zac Posen as its new creative director at CBS News. “In his new role, Posen will lead design, merchandising and marketing for Old Navy, one of the largest apparel brands in the U.S. He will report to Old Navy CEO Haio Barbeito.” Read more

 

CANADA – Business insolvencies spike by 41% in two years as pandemic aid fades — experts say it’s just the ‘tip of the iceberg’ at Toronto Star

 

The top 10 overall titles in Nielsen’s year-end rankings are all acquired shows, the first time that’s happened in the four years streaming rankings have been publicly available at The Hollywood Reporter. “Suits #1, Bluey #2…” Top 10 list

 

Dick’s Sporting Goods to bring experiential concept store in Arizona at ABC 15. “…planning to debut its budding national store concept — called Dick’s House of Sport — in Arizona in 2025…combines…retail merchandise with sporting experiences such as rock climbing, golf simulation bays and multi-sport cages for baseball, softball, lacrosse and soccer…Dick’s could be planning to build the center in metro Phoenix.” Read more

 

LOS ANGELES – Amazon delivery truck stuck on hillside, threatening home below at KTLA 5

 

Wayfair extends shoppable generative AI images to Apple Vision Pro at Chain Store Age. “Decorify on Apple Vision Pro enables users to view and select Wayfair items in 3D directly in their spaces. All 3D items are at full scale and anchor to the floor, designed to enable shoppers can see a variety of life-size products in any room or space in their home.” Read more

 

Stew Leonard’s recalls 8 chicken products weeks after NYC dancer’s death blamed on mislabeled cookies at NY Post

 

Biden takes aim at grocery stores for ‘ripping people off’ amid continued high prices at Yahoo News. “Well, it’s going to stop. Americans, we’re tired of being played for suckers,” Biden said to resounding applause. “And that’s why we’re going to keep these guys — keep on them and get the prices down.” Read more

 

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

Amazon 3rd Party Liable? | Lulu Men’s Shoes | CA Gov @ Target

 

Amazon Could Face Government Order Making It Liable for Third-Party Products at WSJ. “The U.S. Consumer Product Safety Commission is preparing an order that could classify Amazon’s online retail business as a distributor of goods, according to people familiar with the matter. That designation could give Amazon the same safety responsibilities as traditional retailers and potentially open Amazon up to lawsuits and extensive recalls over items sold through its website.” WSJ subs.

 

Lululemon to launch first men’s footwear line as it chases growth in crowded athletic apparel space at CNBC. “The retailer is debuting its first casual sneaker, dubbed “cityverse,” along with two new running shoes that will all come in both men’s and women’s styles for the first time. Cityverse will launch Feb. 13, while the new running models will debut in March and May.” Read more

 

EBay to pay $59 million to settle US charges over illegal pill-making machines at Reuters. “Wednesday’s settlement arose from eBay’s alleged inadequate monitoring since October 2015 of thousands of pill presses and encapsulating machines sold through its website, including presses capable of producing thousands of pills an hour.” Read more

 

Tractor Supply Q4 comp store sales decline 4.2% Press release

 

Walmart creating 150 new stores, redesigning hundreds more at Fox News. “It will mark the first time Walmart has opened a new store since November 2021, a spokesperson told FOX Business. New stores will be a mix of 182,000-square-foot Walmart Supercenters that employ about 300 and 38,000-square-foot Neighborhood Markets that employ up to 95.” Read more

 

Adidas won’t write off remaining Yeezy inventory, plans to sell ‘at least’ at cost at CNBC. “Last year, Adidas sold about 750 million euros worth of Yeezy merchandise and donated some of the profits to groups such as the Anti-Defamation League…It’s not clear if Adidas will donate any portion of the remaining Yeezy sales.” Read more

 

…Ex-Nike exec mocks Kayne West’s new sock shoe at Daily Mail

 

Amazon delivery gets faster, with 65% jump in number of same-day and overnight items in U.S. at GeekWire. “And the company continues to work on its Prime Air drone delivery, citing its fastest click-to-delivery time in the fourth quarter of 2023 — a box of Annie’s Cocoa and Vanilla Bunny Cookies dropped in 15 minutes, 29 seconds in College Station, Texas.” Read more

 

Boot Barn Holdings, Inc. Q3 same store sales decreased 9.7% Press release

 

Canada Goose Q3 2024 revenue increased 6% year-over-year “DTC revenue grew 14%…driven by growth of in-store retail sales…DTC comparable sales decreased 1.6% year-over-year due to lower e-commerce sales.” Press release

 

Gavin Newsom recalls how Target clerk blamed him for California retail theft — before realizing who he was at NY Post. “And then she goes – she looks at me twice and then she freaks out – she calls everyone over, wants to take photos,” Newsom said – a request he apparently turned down. “I’m like, ‘no we’re not taking a photo, we’re having a conversation, where’s your manager? How are you blaming the governor?’” he said. “And it was $380 later, and I was like ‘Why am I spending $380, everyone else can walk the hell right out?’” Read more

 

Shopify is rolling out an AI-powered image editor for products at TechCrunch

 

More than $85M in Zulily inventory and fulfillment center assets will be up for sale at GeekWire. “It’s also offering for sale the inner workings of two 775,000-square-feet fulfillment centers, which includes more than seven miles of conveyor belts, racks and shelves, furniture, hundreds of barcode scanners, lifts and trucks, and other warehouse miscellany.” Read more

 

Sally Beauty Holdings Q1 consolidated comp sales decline 0.8% Press release

 

Manulife-Loblaw deal on drugs for severe illness triggers fears for access, competition at Financial Post. “Some pharmacare policy experts are raising concerns about competition and patient access to much-needed medication after Manulife Financial Corp. announced its coverage of certain prescription drugs will only apply at Loblaw Cos. Ltd. pharmacies.” Read more

 

1-800-FLOWERS.COM, Inc. Q2 total consolidated revenues decreased 8.4% Press release

 

One of America’s Hottest Commodities is Probably in Your Trash at WSJ. “The national average price for OCC free on board, or at the seller’s loading dock, was $87 a short ton in January, up from $29 a ton a year ago, according to Fastmarkets RISI’s PPI Pulp & Paper Week.” WSJ subs.

 

Ross Stores Appoints Karen Fleming President and Chief Merchandising Officer of dd’s DISCOUNTS Press release

 

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

Wmart #1 Drugstore | Return Fraud 16.5% | 5.3% Vacancies @ Lowest

 

Retail return fraud is rising as consumers send back purchases in droves at CNBC. “Retailers expect 16.5%, or $24.5 billion worth, of holiday returns to be fraudulent this year, according to a survey by Appriss Retail and the National Retail Federation.” Read more

 

Prisoners in the US are part of a hidden workforce linked to hundreds of popular food brands at AP. “The goods these prisoners produce wind up in the supply chains of a dizzying array of products found in most American kitchens, from Frosted Flakes cereal and Ball Park hot dogs to Gold Medal flour, Coca-Cola and Riceland rice. They are on the shelves of virtually every supermarket in the country, including Kroger, Target, Aldi and Whole Foods.” Read more

 

UPS announces 12,000 job cuts, says package volume slipped last quarter at CNBC. “The company reported a 7.4% drop in average daily volume domestically and an 8.3% decrease internationally. Tomé said the international softness was “heavily weighted” in Europe, coupled with freight complications in the Red Sea region, as well as the Panama and Suez Canals.” Read more

 

For Retailers, Business Is Back and Landlords Say No More Rent Discounts at WSJ. “Vacancies at U.S. shopping centers fell to 5.3% in the fourth quarter, the lowest level since real-estate firm Cushman & Wakefield began tracking the metric in 2007. Average asking rents rose to $23.70 a square foot and are now nearly 17% above 2019 levels.” WSJ subs.

 

ACSI Customer Satisfaction: Chewy #1 online…Costco/HEB/Publix #1 Supermarkets…Walmart #1 Drugstore…Macy’s/Costco #1 General Retailer Press release

 

Democrats’ next crime fight: Retail theft at Politico. “New York Gov. Kathy Hochul is waging her own war on shoplifters through a mix of tougher criminal penalties and funding…She wants to create new police teams to address the matter, while offering a tax credit for businesses to help bolster security measures. Hochul’s move comes as Democrats look to flip five U.S. House seats in New York in the narrowly-divided chamber this year…” Read more

 

Costco CFO says China has huge potential as he gives us a peek at international expansion plans at CNBC Pro. “The world’s second-largest economy has “very good potential” for Costco expansion, CFO Rich Galanti told CNBC. Perhaps, that’s even an understatement, if the mob scene outside the recent opening of the first Costco in Shenzhen is any indication. Six warehouse stores in all of mainland China do not seem to be anywhere close to being enough.” CNBC Pro subs.

 

Costco shopper is left stunned after store allowed her to return a two-and-a-half-year-old couch with no receipt at Daily Mail. “[They] just asked me if  there was anything wrong with it or I just didn’t want it or like it anymore,’ she recalled. ‘I said I just didn’t like it anymore, we just don’t like the color anymore,’ she explained. ‘And they gave us our refund.” Read more

 

Walmart says managers can now earn up to $400,000 a year — no college degree needed at CBS News

 

REI slashes workforce by more than 350 workers, prepares for ‘challenging’ year ahead at Fox Business. “…it impacts 200 people at headquarters near Seattle, six in sales and customer service, 30 in experiences and 121 in its distribution centers.” Read more

 

Walmart’s Jane Ewing to take a senior leadership role in Walmart’s International business at Talk Business. “Ewing will oversee operations, real estate, and supply chain initiatives across Walmart’s International markets.” Read more

 

‘A piece of my son:’ Painting of beloved Winston-Salem resident to be taken down from CVS store when it closes at WXII 12

 

Jeff Bezos still using homemade door desk from Amazon’s early days at Fox Business. “Bezos’ friend and Amazon’s fifth employee, Nico Lovejoy, explained, “We happened to be across the street from a Home Depot. He looked at desks for sale and looked at doors for sale, and the doors were a lot cheaper, so he decided to buy a door and put some legs on it.” Read more

 

Morgan Wallen and Eric Church Team to Purchase Field & Stream Brand With Investors at Billboard

 

Amazon terminates $1.4B iRobot deal, blames ‘disproportionate’ regulatory hurdles at GeekWire

 

Biden publishes watered-down gas stove efficiency rule at The Hill. “…97 percent of gas stoves and 77 percent of electric stoves on the market already meet the requirements it is proposing. This is down from the 50 percent of gas stoves on the market it estimated would be impacted by the rule last year.” Read more

 

Seattle bans batteries from the trash at GeekWire

 

Dollar General Surpasses Milestone of 5,000 Stores Nationwide Offering Fresh Produce Press release

 

Michelle Gass Assumes Role of Levi Strauss & Co. President & Chief Executive Officer Press release

 

 

 

Stew Leonard’s Tragedy | JIT Back | Costco Daytona Buzz

 

Retailers Return to Bringing in Inventory ‘Just in Time’ at WSJ. “The ratio of inventories to sales at general-merchandise retailers, which tracks how much companies have in stock compared with what they sell, fell to 1.36 in November from a pandemic-era peak of 1.5 in August 2022, according to the Census Bureau. That compares with 1.33 in November 2019. “We’re basically right back in line with where we were in 2019, which I think is where folks want to be,” said Jason Miller, a logistics professor at Michigan State University.” WSJ subs.

 

Macy’s could get takeover bid from buyout firm Sycamore Partners during sagging sales, job cuts at NY Post. “Sycamore — a prolific buyout firm whose retail properties include Ann Taylor, Talbots and the regional department-store chain Belk — has been in quiet talks with Macy’s, which also owns Bloomingdale’s, since at least late December, sources told The Post.” Read more

 

US fourth quarter economic growth +3.3% vs. +2.0% forecast at Reuters

 

IKEA is busy cutting prices while everything else gets expensive at Yahoo Finance. “The reason IKEA is able to consider what other retailers haven’t been able to is because manufacturing costs have fallen recently. IKEA, in turn, wants to pass that on to the budget-constrained shopper. “It’s interesting right now, because we have inflation in the customer but we have massive deflation upstream. So, right now, we’re lowering prices more than we’ve ever done,” Brodin said.” Read more

 

Walmart’s Anshu Bhardwaj on AI and the retailer’s role as a global tech leader at NRF. “Bhardwaj says she challenges her teams and colleagues to find new ways to blend their retail acumen with technology to meet customers’ needs. She points to Sam Club’s Scan and Go, which launched chainwide in September 2016. The technology was there…Luckily, a product manager knew exactly what it would be good for…” Read more/Podcast

 

Professional dancer, 25, dead after eating mislabeled cookies from Stew Leonard’s grocery store at NY Post. “A professional dancer in New York died after she ate an incorrectly labeled holiday cookie containing peanuts sold at popular supermarket Stew Leonard’s, as the store and wholesaler point fingers at who is to blame.” Read more

 

Target, Walmart, and Albertson’s named top e-commerce grocery performers at Ipsos. “For the delivery category, respondents viewed Whole Foods Market as the grocer with the best communication (with 83% “very satisfied”), while Albertson’s was the brand shoppers said they were most likely to buy from again (61% extremely likely to use again). For curbside pickup, however, Albertson’s ranked highest (with 97% very satisfied), while Amazon Fresh was the brand that shoppers said they were most likely to use again (76% extremely likely to use again).” Read more

 

Knott’s Berry Farm, 100-year-old jam and cookie brand, is discontinued in stores at Fox Business

 

Buzz builds for new Costco across the street from Daytona International Speedway at Daytona Beach News-Journal. “With just a month to go before its Feb. 22 opening day, membership sales for Costco at One Daytona are on pace to set a new record for the chain’s Southeast region….Costco gas station opens here on Feb. 1, three weeks ahead of the store.” Read more

 

Target parts ways with independent agency Mother after 20 years at Ad Age (subs. required)

 

Walmart leaders exit the retailer ahead of the fiscal year-end at Talk Business. “Kevin Buncum, who led Walmart’s Neighborhood Market business for the past 12 years, is…leaving the company…Judith McKenna is also exiting the company on Feb. 1…She’s been working with Kath McLay who took over the international leadership role in August.” Read more

 

TikTok is coming for YouTube – the company has been spotted testing the ability for users to upload 30-minute videos at TechCrunch

 

Why Walmart pays its truck drivers 6 figures at Freight Waves/Finance. “Barring a lottery win or marrying a sugar mama, I don’t see myself going anywhere,” said the Texas-based driver, who asked not to have his name included as he is not authorized to speak on behalf of the company. Such loyalty to a single company is unusual in trucking, an industry notorious for massive turnover. And the Texas trucker isn’t alone in his dedication to Walmart…” Read more

 

There are 152,396 convenience stores operating in the United States, a 1.5% increase from the 2023 store count, reversing a four-year decline at NACS

 

Nearly 60% of parents provide financial help to their adult kids at WSJ. “About 59% of parents said they helped their young adult children financially in the past year, according to a report released Thursday by the Pew Research Center that focused on adults under age 35. (This question hadn’t been asked in prior surveys.) More young adults are also living with their parents. Among adults under age 25, 57% live with their parents, up from 53% in 1993.” WSJ subs.

 

American guitar brand Gibson is opening its first-ever flagship store outside of U.S. in London at Chain Store Age

 

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