Target Lost Identity | Heave the Beave | CPI +2.7%
‘Lost their identity’: Why Target is struggling to win over shoppers and investors at CNBC. “Multiple former employees…said Target’s store standards have slipped in recent years as the company has tried to juggle online and in-store businesses with a leaner store staff — leading to items being out of stock. Customers and analysts also told CNBC they have seen longer checkout lines, messier aisles and fewer employees at stores.” Read more
US inflation accelerated last month at AP. “Consumer prices rose 2.7% in June from a year earlier, the Labor Department said Tuesday, up from an annual increase of 2.4% in May. On a monthly basis, prices climbed 0.3% from May to June, after rising just 0.1% the previous month.” Read more
Albertsons Companies Inc. Q1 ID sales +2.8% “…strong growth in pharmacy sales being the primary driver of the identical sales increase…continued to grow our digital sales with a 25% increase…” Press release
Adobe: Prime Day event drove $24.1 billion in online spend across U.S. retailers “…representing 30.3% growth year-over-year…generative AI traffic to U.S. retail sites…increased by 3,300% YoY…While paid search remained the top driver of retail sales online (28.5% share of revenue, up 5.6% YoY), affiliates and partners—which includes social media influencers — saw a greater lift (19.9% share, up 15% YoY).” Press release
The ‘Cable Cowboy’ Battles Buc-ee’s for the Soul of the West at WSJ. “Emotions have boiled over in Palmer Lake (population 2,500) since…Buc-ee’s…targeted undeveloped land along Interstate 25 for a new outlet: a 74,000-square-foot store…Some residents display “Heave the Beave” signs in their front yards. They have a powerful ally: billionaire media mogul John Malone, America’s second-largest private landowner. His nearby Greenland Ranch is one of the largest stretches of open land between Denver and Colorado Springs.” WSJ subs.
Target commercial team to return to HQ at least three times per week starting Sept. 2 at Kare 11
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China falls for American-style bulk buying at Sam’s Club despite US trade tensions at Financial Times. “Sam’s Club…is one of China’s fastest-growing foreign retailers, with 56 stores in the country and plans for 60 by the end of the year…This compares with seven China stores from Costco…Even as economic momentum has slowed in China, Sam’s Club’s income from memberships there grew more than 40 per cent year on year in the first quarter…” Read more
Walmart ready for back to school “…offering the 14 most popular supplies at prices lower than last year, with some of the most requested back-to-school items available for just $0.25…launched Weekend Academy, a new private tween fashion brand, with most items available for under $15…” Press release
Can the French Reinvent America’s Broken Department-Store Model? at WSJ. “Printemps New York is following the European department-store playbook of serving up enough food and drinks, exhibitions and other activities to keep shoppers occupied far beyond the fitting room…It more closely resembles a chic nightspot than it does a suburban Macy’s. The new store features an espresso cafe under a green-and-white circus tent, three other restaurants, hand-painted tiles, a champagne bar and spa chairs for mini-facials and head massages.” WSJ subs.
L.L.Bean President and CEO Stephen Smith Plans Departure in 2026 Press release
US imposes a 17% duty on fresh Mexican tomatoes in hopes of boosting domestic production at AP. “Mexico currently supplies around 70% of the U.S. tomato market, up from 30% two decades ago, according to the Florida Tomato Exchange.” Read more
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