Stew Leonard’s Tragedy | JIT Back | Costco Daytona Buzz


Retailers Return to Bringing in Inventory ‘Just in Time’ at WSJ. “The ratio of inventories to sales at general-merchandise retailers, which tracks how much companies have in stock compared with what they sell, fell to 1.36 in November from a pandemic-era peak of 1.5 in August 2022, according to the Census Bureau. That compares with 1.33 in November 2019. “We’re basically right back in line with where we were in 2019, which I think is where folks want to be,” said Jason Miller, a logistics professor at Michigan State University.” WSJ subs.


Macy’s could get takeover bid from buyout firm Sycamore Partners during sagging sales, job cuts at NY Post. “Sycamore — a prolific buyout firm whose retail properties include Ann Taylor, Talbots and the regional department-store chain Belk — has been in quiet talks with Macy’s, which also owns Bloomingdale’s, since at least late December, sources told The Post.” Read more


US fourth quarter economic growth +3.3% vs. +2.0% forecast at Reuters


IKEA is busy cutting prices while everything else gets expensive at Yahoo Finance. “The reason IKEA is able to consider what other retailers haven’t been able to is because manufacturing costs have fallen recently. IKEA, in turn, wants to pass that on to the budget-constrained shopper. “It’s interesting right now, because we have inflation in the customer but we have massive deflation upstream. So, right now, we’re lowering prices more than we’ve ever done,” Brodin said.” Read more


Walmart’s Anshu Bhardwaj on AI and the retailer’s role as a global tech leader at NRF. “Bhardwaj says she challenges her teams and colleagues to find new ways to blend their retail acumen with technology to meet customers’ needs. She points to Sam Club’s Scan and Go, which launched chainwide in September 2016. The technology was there…Luckily, a product manager knew exactly what it would be good for…” Read more/Podcast


Professional dancer, 25, dead after eating mislabeled cookies from Stew Leonard’s grocery store at NY Post. “A professional dancer in New York died after she ate an incorrectly labeled holiday cookie containing peanuts sold at popular supermarket Stew Leonard’s, as the store and wholesaler point fingers at who is to blame.” Read more


Target, Walmart, and Albertson’s named top e-commerce grocery performers at Ipsos. “For the delivery category, respondents viewed Whole Foods Market as the grocer with the best communication (with 83% “very satisfied”), while Albertson’s was the brand shoppers said they were most likely to buy from again (61% extremely likely to use again). For curbside pickup, however, Albertson’s ranked highest (with 97% very satisfied), while Amazon Fresh was the brand that shoppers said they were most likely to use again (76% extremely likely to use again).” Read more


Knott’s Berry Farm, 100-year-old jam and cookie brand, is discontinued in stores at Fox Business


Buzz builds for new Costco across the street from Daytona International Speedway at Daytona Beach News-Journal. “With just a month to go before its Feb. 22 opening day, membership sales for Costco at One Daytona are on pace to set a new record for the chain’s Southeast region….Costco gas station opens here on Feb. 1, three weeks ahead of the store.” Read more


Target parts ways with independent agency Mother after 20 years at Ad Age (subs. required)


Walmart leaders exit the retailer ahead of the fiscal year-end at Talk Business. “Kevin Buncum, who led Walmart’s Neighborhood Market business for the past 12 years, is…leaving the company…Judith McKenna is also exiting the company on Feb. 1…She’s been working with Kath McLay who took over the international leadership role in August.” Read more


TikTok is coming for YouTube – the company has been spotted testing the ability for users to upload 30-minute videos at TechCrunch


Why Walmart pays its truck drivers 6 figures at Freight Waves/Finance. “Barring a lottery win or marrying a sugar mama, I don’t see myself going anywhere,” said the Texas-based driver, who asked not to have his name included as he is not authorized to speak on behalf of the company. Such loyalty to a single company is unusual in trucking, an industry notorious for massive turnover. And the Texas trucker isn’t alone in his dedication to Walmart…” Read more


There are 152,396 convenience stores operating in the United States, a 1.5% increase from the 2023 store count, reversing a four-year decline at NACS


Nearly 60% of parents provide financial help to their adult kids at WSJ. “About 59% of parents said they helped their young adult children financially in the past year, according to a report released Thursday by the Pew Research Center that focused on adults under age 35. (This question hadn’t been asked in prior surveys.) More young adults are also living with their parents. Among adults under age 25, 57% live with their parents, up from 53% in 1993.” WSJ subs.


American guitar brand Gibson is opening its first-ever flagship store outside of U.S. in London at Chain Store Age


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