Kroger pledges to lower prices for consumers when its planned merger with Albertsons closes at MarketWatch. “Kroger Inc., facing regulatory pushback over its plan to merge with rival grocery chain Albertsons Cos. Inc. in a roughly $25 billion deal, said Tuesday it typically lowers prices for consumers after consummating a deal.” Read more | Press release
NYC may ban detergent packs including Tide Pods in latest ‘green’ crackdown — with fines up to $1,200 for selling them at NY Post. “Polyvinyl alcohol, or PVA, is used as a film in pods that dissolves in water during a wash cycle. But scientists counter that it breaks down into tiny microplastic pieces that still pollute waterways and slip through filtration systems.” Read more
Retail return fraud running rampant, viral TikToks show at Fox Business. “TikToker Bailey Cormier received a can of tuna instead of a luxury ashtray (from Saks)…”This is what I found,” she claimed, holding up the can. “A can of albacore tuna…I don’t know if someone from the warehouse took it and replaced it… but this is the most f—ing expensive can of tuna I’ve ever bought.” Read more
Self-gifting is on the rise as consumers enjoy the empowerment of treating themselves at WSJ. “Self-gifting is on the rise for Cupid’s holiday as more consumers grow tired of receiving duds from their spouse or significant other…nearly half the U.S. adult population is unmarried and many say they aren’t looking for a romantic relationship. The trend is a boon for retailers and could help reverse sagging Valentine’s Day sales. Larger companies such as Target and Etsy to smaller jewelers and lingerie sellers are switching up marketing messages and creating special collections to emphasize self-gifting.” WSJ subs.
Shopify shares down after company reports light guidance at CNBC. “Gross merchandise volume, or the total volume of merchandise sold on the platform, increased 23% to $75.1 billion — above the $72.1 billion expected by analysts, according to StreetAccount.” Read more
Once pioneering Body Shop UK collapses into administration at Reuters. “The retailer was one of the most popular on the British high street in the 1980s and 1990s but has faced much greater competition from newcomers in recent years…199 stores and online will continue to trade.” Read more
Dollar Tree, Inc. COO Mike Creedon adds leadership of Dollar Tree & Family Dollar Merchandising and Supply Chain to his scope “Dollar Tree Chief Merchandising Officer Rick McNeely, Family Dollar Chief Merchandising Officer Larry Gatta and Chief Supply Chain Officer Mike Kindy will report to Mike.” Press release
What, Exactly, Should You Eat? Inside the $190 Million Study Trying to Find the Answer at WSJ. “Kevin Elizabeth, a 28-year-old tech worker, is one of 500 Americans who will be living at scientific facilities around the country for six weeks, eating precisely selected meals and undergoing hundreds of medical tests. He is part of a new study, costing $189 million, that is one of the most ambitious nutrition research projects the National Institutes of Health has ever undertaken.” WSJ subs.
Jeff Bezos will save over $600 million in taxes by moving to Miami at CNBC. “In 2022 Washington state imposed a new, 7% capital gains tax on sales of stocks or bonds of more than $250,000…In 2022, when the tax took effect, Bezos stopped selling…After his move to Miami, Bezos made up for lost time.” Read more
SpartanNash will expand the use of autonomous inventory robot Tally at 60 additional store locations Press release
Junior Achievement of Arkansas to honor CEO of Walmart by Arkansas Democrat-Gazette. “The event — set for May 9 at the Statehouse Convention Center, Governor Halls I and II, in Little Rock — is designed to help pay for costs to nearly 20% of the students JA will reach during the school year.” Read more
Father of CVS pharmacist who died calls company memo ‘corporate garbage’ at Fox Business. “For years, Larry Anderson has been fighting to keep his daughter’s story alive, from talking to reporters to putting up billboards along the highway in their state of Indiana, in hopes that there will be a monumental change in an industry that has placed tremendous stress on its workers.” Read more
Amazon recognized for contributions to Bellevue’s downtown at GeekWire. “Amazon on Friday said it has opened its latest office building in Bellevue, dubbed Dynamo, and now has more than 11,000 employees working in the city. At 300,000 square feet, the new building includes room for more than 1,500 people…” Read more
Consumers have fewer choices as brands prune their offerings to focus on best sellers at AP. “…may also hurt smaller brands who relied on retailers to offer different products — Bob Friedland…said that for years, his go-to barbecue sauce has been Open Pit. But Friedland noticed that over the past few years, his local grocers hadn’t been carrying it, and he’s since turned to Amazon to buy it. That means those local stores not only lost out on Open Pit sales to Friedland. but all the other purchases he used to make while shopping for his favorite barbecue sauce.” Read more
Casey’s Hires First-Ever Chief Pizza & Beer Officer “As a proud resident of Casey’s Country and a self-proclaimed pizza and beer aficionado, I’m honored to be the first person to take on this coveted role,” said Joe Cruz, Casey’s new Chief Pizza & Beer Officer.” Press release
Score is a new dating app for people with good to excellent credit “There is a new dating app just in time for Valentine’s Day, but there’s a catch: You must have at least a 675 credit score to use it.” Read more