Dollar Stores Restricted | Corn Regret | Homes 32% All-Cash
Existing home sales rose 3% to start the year at CNBC. “The 32% all-cash share was up from 29% in both December and in January 2022. First-time buyers made up just 28% of sales. Historically they make up about 40%.” Read more
FTC, states could sue over Kroger-Albertsons $24.6 bln deal next week at Bloomberg/Reuters. “An agreement to not close the deal between the FTC and the two companies expires on Feb. 28, and the report said a lawsuit to block the deal is expected before that.” Read more
Chicago City Council approves new restrictions on dollar stores at CBS News. “The ordinance prohibits so-called “small-box retailers” from opening within one mile of another such store owned by the same company…but exempts gas stations, pharmacies, pawn shops, flea markets, thrift shops, and other various specialty shops…exemptions for so-called “small-box retailers” that set aside at least 10% off their floor space to fresh produce, meat, seafood, and dairy products.” Read more
Zara’s secret weapon in fast-fashion fight against Shein at Reuters. “Zara owner Inditex, the world’s biggest listed fast fashion company by sales, is expanding its low-priced Gen Z-focused brand Lefties to counter Chinese-founded rival Shein. The rapid growth of Shein, an online marketplace with no physical stores, is putting pressure on retailers like Inditex and Sweden’s H&M to find ways to respond to its budget prices.” Read more
Walmart’s PhonePe launches India app store in challenge to Google at TechCrunch. “Microsoft, Amazon and Meta are among the top brands whose apps are listed on the Indian fintech PhonePe’s Indus Appstore, an Android app store launched Wednesday in challenge to Google’s monopoly in its largest market by users.” Read more
For the first time, Jeff Bezos’ Blue Origin space venture lifted up an orbital-class New Glenn rocket on its Florida launch pad — with the billionaire boss keeping watch at GeekWire
It’s Been 30 Years Since Food Ate Up This Much of Your Income at WSJ. “If you look historically after periods of inflation, there’s really no period you could point to where [food] prices go back down,” said Steve Cahillane, chief executive of snack giant Kellanova, in an interview. “They tend to be sticky.” WSJ subs.
Target Announces Collaboration with Diane von Furstenberg Press release
Home Depot ban on worker’s Black Lives Matter apron was illegal, US agency rules at Reuters. “Home Depot was ordered to reinstate Morales and compensate them for lost pay and benefits. The company… can appeal the decision to a federal appeals court…” Read more
Amazon is replacing Walgreens in the Dow Jones Industrial Average at CNN
US farmers face harsh economics with record corn supplies in silos at Reuters. “The steepest market downturn in a decade in 2023 has extended into 2024, hurting the U.S. rural economy. Two years of high prices and tight crop supplies spurred by unfavorable global weather and disruption from the Ukraine war have been quickly reversed.” Read more
Amazon to Sunset Freevee, Streamlining Its Ad and Product Efforts at Adweek
New feature allows Amazon Fresh shoppers to lock in recurring time slot for grocery pickup or delivery at GeekWire. “The service allows customers to set their window up to seven days in advance. Shoppers receive notifications in advance of a reservation expiration, and must check out 24 hours ahead of time to keep their preferred time.” Read more
Good Housekeeping’s 2024 Sustainable Innovation Awards Press release
Wawa to open 70-plus stores in 2024 at Chain Store Age
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