Lowe’s -6.2% | Walton +$1.5B | Macy’s -150 | Khan +1


Lowe’s Q4 comp sales down 6.2% Press release


…Lowe’s beats earnings estimates – company expects revenue to slide again this year at CNBC. “Q4: Earnings per share: $1.77 vs. $1.68 expected. Revenue: $18.60 billion vs. $18.45 billion expected.” Read more


US sues to block merger of Kroger and Albertsons at AP News. “Together, Kroger and Albertsons would control around 13% of the U.S. grocery market; Walmart controls 22%, according to J.P. Morgan analyst Ken Goldman.” Press release


…The FTC’s Grocery Gift to Walmart and Amazon at WSJ. “FTC Chair Lina Khan rewrote the FTC’s longstanding merger guidelines to consider how deals would affect workers and labor-market competition. This is a radical departure from modern antitrust law, which emphasizes consumer welfare. Monopolies that are shielded from competition are usually good for workers, even if they hurt consumers.” WSJ subs.


Macy’s to close 150 stores / To open ~ 15 new Bloomingdale’s & 30 new Bluemercury stores Press release


Macy’s, Inc. Q4 comp sales down 5.4%:

…Comps: Macy’s down 6.0% / Bloomingdale’s down 1.5% / Bluemercury up 1.5% Press release


Dillard’s Q4 comp sales down 5% / Net income down 13.3% Press release


UK finance minister held talks with Shein chair about London IPO at Reuters. “The initial public offering by Shein…could be the London Stock Exchange’s second largest in history…A listing by Shein could be seen as a coup for Britain, which has struggled to attract IPOs…” Read more


Walton Family Sells $1.5 Billion of Walmart Stock After Jump at Yahoo


Family Dollar to pay $42 million for shipping food from rat-infested warehouse to stores at CBS. “Nearly 1,300 rodents were exterminated and the company on Feb. 18, 2022, launched a massive recall of products sold by 404 stores serviced by the warehouse.” Read more


Walgreens Boots Alliance Names Lanesha Minnix EVP and Global Chief Legal Officer Press release


WalletHub’s 20 happiest cities in America

…Fremont, CA #1 / San Fran #7 / Minneapolis #13 / Seattle #18 Top 20 list


Eggo unveils one-of-a-kind House of Pancakes, opens rental slots at Fox Business. “The house, which is available to rent on HomeToGo, is located in Gatlinburg, Tennessee. The city is known for being the Pancake Capital of the South.” Read more


Dollar General Opens 20,000th Store Press release


Drugs like Ozempic and Wegovy could boost the US economy by a trillion dollars in a few years, Goldman Sachs predicts at CNN Money. “Goldman Sachs argues that since poor health unambiguously weighs on the economy, improving health outcomes due to GLP-1s could lower costs and boost productivity, shoring up economic output…estimates that GLP-1s could add 0.4% to America’s gross domestic product.” Read more


Walgreens First Community Pharmacy to Accept a Broad Array of Medicare Advantage Supplemental Benefits Online and in App Press release


Walmart Leadership to Participate in Upcoming Investor Events Press release


Fareway Submitting Plans to Open Its 1st Full-Service Store in Kansas at Progressive Grocer. “Family-owned Fareway employs more than 12,000 associates in its 135-plus stores located in Iowa, Illinois, Kansas, Minnesota, Missouri, Nebraska and South Dakota.” Read more


Human finger found in parking lot of Walmart store at CBS


Survey: More than half of home decor shoppers value in-store experience at Chain Store Age. “A third of shoppers find in-store pricing competitive with online deals, suggesting a need for online retailers to reassess their pricing strategies. However, many consumers (42%)  feel “overwhelmed” by online options, which 2 Visions says highlights the need for better merchandising strategies.” Read more


***Advertising inquiries, new product searches, comments, questions, etc., contact Jason Long at jlong@eyeonretail.net