Costco +3.7% | CVS CEO #1 Powerful | Canada Deadline Nears
Costco September comp sales (ex fuel and f/x) +3.7% / US +2.7% / Canada +8% / Other Int’l +4.9% / Ecom +3.5% “Costco reported net sales of $22.75 billion for the retail month of September, the five weeks ended October 1, 2023, an increase of 6.0 percent from $21.46 billion last year.” Press release & Top 10 | Fortune subs.
CANADA: Grocers mum on plan to lower food prices ahead of Thanksgiving deadline at Toronto Star. “The federal government’s Thanksgiving deadline is fast approaching for major Canadian grocers to come up with a plan to stabilize prices amid a months-long food affordability crisis. But few details have been divulged on how that will be achieved, leaving many wondering what such a plan from the grocers would look like, or how the government would even measure its success.” Read more
Walgreens Test of Ad-Enabled Cooler Doors Ends Up in Court at Wall Street Journal. “Cooler Screens, is suing the pharmacy chain, saying that Walgreens obstructed an agreed-upon nationwide rollout of the internet-connected doors and demanded their removal from stores, according to court documents. Walgreens, meanwhile, says the technology from Cooler Screens didn’t work. The retailer said it ended its agreement with the vendor in February, according to the court documents.” WSJ subs.
Starbucks plans to close seven San Francisco locations at Yahoo Finance. Read more
Walmart experiments with generative AI tools that can help you plan a party or decorate at TechCrunch. “During a demo with TechCrunch, a company spokesperson outlined how the retail giant is experimenting with generative AI to help shoppers in all stages of the shopping experience, from the search and discovery phase to making a purchase. Three features coming down the pipeline include a shopping assistant, generative AI-powered search and an interior design feature.” Read more
Fortune: 100 Most Powerful Women in Business. #1 Karen S. Lynch, President and CEO, CVS Health Press release / Top 10 list
‘Super retailers’ see fewer shopping trips, longer visits at The City Wire. “Placer.ai reports that…the share of visits looks to have shifted in the past few years. Walmart’s visit share shrunk from 55.2% to 50.6% between early 2019 and 2023. Target grew its share of store visits from 16.8% to 18.7% in the same period.” Read more
These 13 iconic Austin businesses have stood the test of time. at Austin American-Statesman. Read more
America’s Food Giants Confront the Ozempic Era at Wall Street Journal. “Big food companies and investors are watching as Ozempic and other similar weight-loss drugs flow to millions of people, upending America’s diet industry and raising new questions about how consumers will eat. “ WSJ subs.
…Ozempic Is Making People Buy Less Food, Walmart Says at Bloomberg. “Walmart Inc. says it’s already seeing an impact on shopping demand from people taking the diabetes drug Ozempic, Wegovy and other appetite-suppressing medications.” Bloomberg subs.
The Buckle September comparable sales decreased 11.1% Press release
Record chicken prices squeeze US shoppers, benefit Tyson Foods at Reuters. “Chicken prices at U.S. grocery stores have hit record highs and should stay elevated as Tyson Foods and other companies dial back poultry production to boost margins while inflation-weary shoppers buy chicken instead of beef and pork.” Read more
Rite Aid Announces Receipt of Notice of Non-Compliance with NYSE Continued Listing Standards Press release