THD +1% | B.Buy +Marketplace | RIP Hallway | RIM Distorts?
Home Depot Q2 comp sales +1.0% / US comp sales +1.4% “Revenue…climbed to $45.28 billion from $43.18 billion, but fell short of the $45.41 billion that analysts polled by FactSet were looking for…Customer transactions declined less than 1% in the quarter. The amount shoppers spent rose to $90.01 per average receipt from $88.90 in the prior-year period.” Read more
Best Buy launches third-party marketplace as it looks for sales drivers at CNBC. “Jason Bonfig said…Best Buy noticed gaps in its assortment that the new platform will help it fill. For instance, he said the company didn’t carry batteries for some older cameras or cases for older smartphones. And it didn’t offer some items that complement Best Buy purchases, such as furniture that goes around a big-screen TV or cookware to use with a new kitchen appliance.” Read more
Hurricane Erin forces evacuations on North Carolina’s Outer Banks, threatens dangerous rip currents at AP
Shein Mulls Moving Back to China to Facilitate Hong Kong IPO at Bloomberg. “Shein Group Ltd. has considered moving its base back to China to help sway Beijing authorities to sign off on its plans to go public in Hong Kong, according to people familiar with the matter.” Bloomberg subs.
New research associates poor sleep with dairy products at WSJ. “In particular, the researchers found that people who reported they were lactose intolerant experienced more disrupted sleep. When participants with such food sensitivities are unable to resist dairy, there are consequences…” WSJ subs.
Senate Democrat rips Costco for ‘refusing to sell’ abortion pills at The Hill
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How retail accounting could distort profitability as tariffs take effect at CNBC. “Retail inventory method accounting (RIM) is less responsive to initial product cost changes compared to cost accounting, and can initially overstate profitability,” said Ali Furman, PwC U.S. consumer markets industry leader…Nearly a quarter of U.S. retailers use the retail inventory method of accounting, according to PwC. Walmart, Target and Home Depot are among them.” Read more
The Trade Desk Claps Back at Reports That Walmart Is Pulling Back at Adweek
Dick’s Sporting Goods Launches Entertainment Studio at Hollywood Reporter. “Cookie Jar & A Dream Studios, a new content and production studio to lean into unscripted sports themed series…projects from Cookie Jar & A Dream Studios include Big Dreams: The Little League World Series 2024, an ESPN documentary…” Read more
Staples Business Launches Contest to Celebrate Janitorial and Facility Professionals Press release
New homes are 11% smaller but 74% more expensive than a decade ago at Fortune/Yahoo. “Smaller footprints and more expensive resources have “forced creativity” for developers, Alexander said. This means designing homes with pocket offices, multifunctional living areas, and layouts that maximize every inch. Plus, hallways are disappearing, he said.” Read more
Man running from Home Depot immigration raid is hit and killed on freeway at NBC 4 Los Angeles
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