Target 10 or Less | WM #2 Milk | Lowe’s CEO Helps
Consumer prices rose 0.4% in September, more than expected at CNBC. “Excluding volatile food and energy prices, the so-called core CPI increased 0.3% on the month and 4.1% on a 12-month basis, both exactly in line with expectations.” Read more
Walgreens profit outlook comes up short at CNBC. “Walgreens’ U.S. retail pharmacy segment generated $27.66 billion in sales in the fiscal fourth quarter, an increase of 3.7% from the same period last year. Comparable sales at individual locations rose 5.7%. Pharmacy sales for the quarter increased 6.4% compared with the fiscal fourth quarter of 2022, with comparable sales up more than 9% due to price inflation in brand medications and mix impacts.” Read more | Press release
…Walgreens taps healthcare industry veteran Tim Wentworth as CEO at Reuters. “Wentworth, the former top boss of pharmacy benefit manager Express Scripts before it was bought by Cigna, will be tasked with overseeing a push by Walgreens to diversify its healthcare services…” Read more
Target stores throughout Maine have activated a 10 item or less limit for self-checkout lanes at WCCY. “That will be welcome news for customers at some Target stores in Maine, where lines can extend more than 50 people deep on the busiest of days and times.” Read more
Walmart plans for second milk plant at Arkansas Democrat-Gazette. “Walmart Inc. plans to open its second milk-processing plant in 2025 in Valdosta, Ga., with construction starting by the end of this year. The company opened its first such plant in 2019 in Fort Wayne, Ind. The Georgia plant will create nearly 400 jobs.” Read more
New Google Store and ‘Visitor Experience’ center in Mountain View is now open at 9 to 5 Google. “After opening New York locations in Chelsea and Williamsburg, the Google Store now has a West Coast outpost. Wood is the prominent material with a long and winding “cabinets of curiosities” showcasing products. There’s also a literal “kids space” with a music experience running on Pixel Tablets.” Read more/Pics
Alice Walton’s $40M gift aims to boost museum access nationwide at The City Wire. Read more
Inside Kroger’s first-ever Hispanic concept store, now open in Houston at Houston Chronicle. “The store’s revamp came at a time when Kroger Division President Laura Urquiza Gump made company history as the first Latina president. The grocer said the store could lead to future concept stores. It now competes with other Hispanic-focused stores like H-E-B’s Mi Tienda stores and La Michocana stores.” Read more/Pics
Ross Stores Appoints Stephen Brinkley as President, Operations “Most recently, Mr. Brinkley served as President of SportChek, a subsidiary of Canadian Tire Corporation.” Press release
Ergo’s Shopify app gives online retailers joy of bartering without the hassle at TechCrunch. “What’s different about ergo versus your typical market is that there is no back-and-forth. When the consumer clicks the “make an offer” button, they enter in some information, including how much they are willing to pay and how long they are willing to wait for that product. Using that information, the retailer makes a decision on whether to accept or reject the offer.” Read more
Walmart exec McLay vows to fight inflation: ‘Now is a time where we are more than relevant in consumers’ lives’ Fortune subs.
Why Americans Are Obsessed With These Ugly Sandals at WSJ. “(Fraser) was living in the U.S. when she took a spa trip back to Germany in 1966 and came across “sandals that weren’t pretty to look at.” But after years of trying anything to fix her aching feet—even standing on a phone book and gripping it with her toes—she tried on her first Birkenstocks. She was pain-free within months.” WSJ subs.
Lowe’s CEO helps bring $8.5 million in donations to research and treatment center at HBS Dealer. Read more