Shein Hikes Prices | Zyn Shortage | Casey’s Pops
Wholesale prices unexpectedly fell 0.2% in May at CNBC
Fast fashion retailer Shein hikes prices ahead of IPO at Reuters. “…has hiked prices by over a third on some core products, in a move likely to boost revenues ahead of its planned IPO, according to an analysis of its pricing strategy. Shein’s average price hikes exceeded those of its rivals H&M, and Zara, according to data from London-based research firm EDITED…” Read more
Casey’s General Store Q4 net income +55% / inside comp sales +5.6% / stock up about 16% Press release
‘We’re not backing down’: US grocery workers take on Kroger with strike vote at The Guardian. “About 6,000 grocery store workers are set to vote on strike action after the expiration of their union contract with the Kroger-owned Food 4 Less chain…Food 4 Less is already advertising for strike replacement workers in anticipation of a work stoppage.” Read more
Dollarama plans Mexico expansion as it ups stake in Latin American business Dollarcity at Financial Post. “Across these foreign markets along with El Salvador and Guatemala, Dollarcity has 547 stores and a plan to reach 1,050 locations in these markets by 2031…” Read more
Grieving Families Blame Panera’s Charged Lemonade for Leaving a Deadly Legacy at Bloomberg. “Highly caffeinated, neon-colored drinks had been proliferating at chain restaurants for years…Unlike the competition, though, Panera was offering its veritable mini-trough in bottomless quantities as part of an Unlimited Sip Club that cost $10.99 a month when it started. As a result, says Philadelphia attorney Elizabeth Crawford, customers gulped them down without fear of consequence.” Read more
TikTok comes for Google as it quietly rolls out image search capabilities in TikTok Shop at TechCrunch
Why America Is Running Low on Zyn Nicotine Pouches at WSJ. “Zyn has been available in the U.S. since 2014 but its sales have skyrocketed over the past year and a half, propelled by a wave of unofficial “Zynfluencers” promoting the brand on social media…They tuck discreetly into the cheek and don’t require users to spit…working to add production capacity at the brand’s sole U.S. factory in Owensboro, Ky., but the problem won’t be fully resolved until the end of the year…” WSJ subs.
Rite Aid Expands Partnership with Instacart to Offer EBT SNAP Online Payment Option from more than 1,400 Locations Press release
The year’s biggest stock market rebound is a legendarily obnoxious clothing brand at Business Insider. “Morning Consult found that Abercrombie’s favorability among millennials reached a record high in the first quarter of 2024, and it’s making gains with Gen Zers, too…”They reinvented themselves, and it worked,” said Janet Joseph Kloppenburg, the president of JJK Research Associates. “Can you and I think of another apparel retailer who literally reinvented themselves and then went to the moon with sales and earnings? It’s crazy.” Read more
America’s Best Employers for New Grads (HEB #23, Trader Joe’s #57, Costco #64) at Forbes List
China’s discount wars risk cementing frugal consumer mindset at Reuters. “If this situation continues, China may end up with what we call a vicious cycle: lower value added consumption, deflation, low profit rates leading to low wages, which further pushes consumers to downgrade their consumption,” said He-Ling Shi, an economics professor at Monash University in Melbourne.” Read more