CPI +3.8% | On +14.5% | Popcorn Eating Contest
Consumer prices rose 3.8% annually in April, the highest since May 2023 at CNBC. “Excluding food and energy, core CPI increased 0.4% and 2.8% respectively, indicating that while inflation is still well above the Federal Reserve’s 2% goal, a good deal of pressure is coming from non-core areas, particularly energy.” Read more
On Q1 net sales +14.5% Press release
Retail Fraud: A Detective Noir Crime Story at The Robin Report. “…the seafood con may be the most brazen…Scallops, priced at around $45 per pound…are one of the most frequently substituted seafoods…The common switch involves surimi which is a minced white fish blend…The substitution playbook includes selling tilapia as red snapper (with a price difference of up to 244%…)” Read more
Amazon Rolls Out Amazon Now to Dozens of Cities Across the U.S Press release
eBay Rejects Unsolicited Proposal from GameStop “…We have concluded that your proposal is neither credible nor attractive.” Press release
Amazon’s New Prime Video Ads Adjust in Real-Time Based on Past Views at MediaPost. “…pulls in shopping and browsing history, activity on Prime Video, product availability, and geography to adjust product details in the ad. It also considers on-screen headlines, and interactive options. Amazon Ads technology will not change the basic creative concept of the spot, but will adjust it to the viewer’s preferences.” Read more
Target is trying to win back busy families from Walmart, starting with the baby aisle at CNBC. “Chief Merchandising Officer Cara Sylvester said families with children ages 5 and under spend two times as much, and families with children across age groups visit stores twice as much as the average Target shopper.” Read/Video
Small Online Shops Get Creative With Returns to Win Over Picky Shoppers at WSJ. “Most online shoe sellers let customers return products—but only if they haven’t worn them. Online men’s shoe brand Birchbury takes a different tack: It lets shoppers return shoes within 30 days, whether or not they have been worn…founder: “That break-in period gives them enough time to test the shoes themselves.” WSJ subs.
Rural King announces popcorn eating contest featuring Joey Chestnut – launches nationwide qualifier series Press release
Sales Are Up. Celebrities Are In. Is Gap Officially Back? at NY Times. “Gap’s comparable sales have risen for eight straight quarters, and its market value has increased to $8.5 billion, from $3.6 billion when Mr. Dickson started…(he) credits the turnaround to “being aware of pop culture, content, art, theater, music, entertainment.” NY Times subs.