7-11 CEO Ex-WM | Tariff Workaround | Penny Hangaround
Temu-owner PDD Holdings profit dives as it faces challenges at home and abroad at Reuters/Yahoo. “Chinese e-commerce firm PDD Holdings saw first-quarter net profit fall 47% to 14.74 billion yuan ($2.05 billion) as its domestic platform suffered from intense local competition and its international business was hit by global trade uncertainty.” Read more
Stephen Hayes Dacus becomes first foreign CEO of 7-Eleven in Japan at AP.”Fluent in Japanese and English, Dacus previously worked at Walmart, Japanese clothing chain Uniqlo and other retailers…It remains unclear whether the company is going to go it alone or decide to collaborate with Couche-Tard.” Read more
Retailers pummeled by Trump’s trade war entertain more ‘take-private’ offers at Reuters. “And companies where a family – as in the case of Skechers – or a single investor has a controlling stake can sign these deals faster and more easily than those that need broad shareholder approval. Investment bankers and advisers pointed to other retailers with similar ownership structures as potential take-private targets: Under Armour…Columbia Sportswear Company…Birkenstock…” Read more
China Turns to Consumers to Boost Growth, but Households Are Wary at WSJ. “In one initiative this year, the government allocated 300 billion yuan, equivalent to around $42 billion, to expand a program that pays shoppers to trade in old vehicles or electronics for new ones. But while the program has boosted short-term economic activity, economists say it does little to rebalance a Chinese economy that has long favored manufacturing as a driver of growth.” WSJ subs.
Alibaba Weighs Options to Reduce Stake in ZTO Express at Bloomberg. “Alibaba Group Holding Ltd. is considering options to pare down its minority stake in express delivery firm ZTO Express according to people familiar with the matter.” Bloomberg subs.
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Businesses are finding a workaround for tariffs — and it’s entirely legal at CNBC. “Businesses are finding a workaround to minimize the most significant hit from tariffs, using a decades-old piece of legislation known as the “first sale rule.” Within U.S. customs law, the first sale rule allows U.S. importers to use the price of the first sale in a number of transactions to calculate customs duties.” Read more
Buc-ee’s is set to open its very first locations in Virginia and Mississippi at Fox News. “The Virginia center in Rockingham County, about 2.5 hours west of Washington, D.C., by car, will become Buc-ee’s most northeast location in the U.S…” Read more
The 2025 Axios Harris Poll 100 reputation rankings (Trader Joe’s #1, Costco #5, Home Depot #15) Top 100 list
The American penny isn’t going anywhere anytime soon at CNN. “If we look at the experience in Canada, for the first year after they stopped making pennies, there’s really no change in transactions,” Jeff Lenard, spokesperson for the National Association of Convenience Stores, told CNN.” Read more
AI is ‘breaking’ entry-level jobs that Gen Z workers need to launch careers, LinkedIn exec warns at Fortune/Yahoo. “AI tools are doing the types of simple coding and debugging tasks that junior software developers did to gain experience. AI is also doing work that young employees in the legal and retail sectors once did. And Wall Street firms are reportedly considering steep cuts to entry-level hiring.” Read more