CVS @ CNBC | Costco +7.1% | China Pets 2X Kids | 3-Ft Pop-Tart
Costco reports a 7.1% rise in July comp sales (US +6.3% / Canada +10.2% / Other Int’l +8.9%) Press release
…Costco members will soon have to scan membership cards upon entrance at Fortune/Yahoo. “…plans to add card scanners at the entrances of its warehouse stores in the coming months, with members required to scan in before they start shopping…all guests will need to be accompanied by a valid member.” Read more
RUN – Overloaded by Amazon, rural delivery companies reach the end of the road at GeekWire. “Two of the three independent delivery companies based at the Amazon facility on the outskirts of this Northern California town are shutting down…Drivers in Orland say changes made by Amazon this year, determined by its automated routing algorithms, overloaded them with stops and packages. In many cases, it became impossible to finish their allotted deliveries without skipping breaks or risking their safety by literally running to keep up.” Read more
CVS CEO says she’s ‘taking direct ownership’ to fix Aetna insurance business at CNBC. “Our problem … is the Aetna business…” Lynch said…”necessary to “look at the totality of the business,” saying she was pleased with other segments like retail and pharmacy. She added the company has “really strong momentum going into 2025.” Read more
…CVS is piloting a new program at several stores in New York where customers can unlock products on shelves using QR codes CNBC
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BRAND BANK – Supplying Saks Was a Soapmaker’s Dream Until He Got a $74 Check at WSJ. “The retailer had been conserving cash as it negotiated to buy rival Neiman Marcus…”You have the money to do an acquisition, but you can’t pay the people that you owe?” Shnitzer-Bartocci said. “They sold the merchandise we’ve given them. They’ve made money on it, and yet they still haven’t paid us back.” WSJ subs.
UK launches formal probe into Amazon’s ties with AI startup Anthropic at TechCrunch
Walmart, Costco Pressured by Investor Group Over Abortion Pills at Bloomberg/Mint. “…letter sent to chief executive officers at the two retail giants, as well as Kroger Co., Albertsons Co. and medical distribution company McKesson Corp. The religious group behind the petition owns about $172 million in shares of the five companies.” Read more
Ingles Markets Q3 net sales down 2.8% Press release
Travel companies rein in their forecasts as US consumers cut spending at Reuters. “They have less available, less disposable income and (less) capacity to do anything including travel,” Hilton Worldwide CEO Christopher Nassetta told analysts on an earnings call on Wednesday.” Read more
Olympic swimmers are guzzling cans of Coke to protect from bacteria in the Seine at Independent/Yahoo
MEE-AO – China will have nearly twice the pets than young children by 2030, Goldman Sachs says at CNBC. “In 2017, the situation was just the opposite — there were 90 million children aged four and under, compared to the urban pet population of around 40 million…the bank expects the country’s pet food market to flourish…forecasts China’s cat ownership to surpass that of dogs as the former tend to require less space to raise.” Read more
Boot Barn Holdings, Inc Q1 comp sales +1.4% Press release
Pop-Tarts unveil giant 3-foot tall ‘Party Pastry’ in select cities at Fox Business. “The Pop-Tarts “Party Pastry,” which is 73 times the size of a classic, standard toaster pastry, will be available starting Wednesday, Aug. 7…The $60 pastry, which includes delivery, is being sold only in New York City, Los Angeles and Chicago.” Read more