WM/OpenAI Team | Kroger CEO Short List | Albertsons +2.2%
Walmart Partners with OpenAI to Create AI-First Shopping Experiences “For many years now, eCommerce shopping experiences have consisted of a search bar and a long list of item responses. That is about to change. There is a native AI experience coming that is multi-media, personalized and contextual. We are running towards that more enjoyable and convenient future with Sparky and through partnerships including this important step with OpenAI,” said Doug McMillon, President and CEO, Walmart Inc.” Press release
Albertsons Q2 identical sales +2.2% “…with strong growth in pharmacy sales being the primary driver of the identical sales increase. We also continued to grow our digital sales with a 23% increase…” Press release
US, China roll out tit-for-tat port fees, threatening more turmoil at sea at Reuters/MSN. “The United States and China on Tuesday began charging additional port fees on ocean shipping firms that move everything from holiday toys to crude oil, making the high seas a key front in the trade war between the world’s two largest economies.” Read more
Police fire tear gas at Brussels protest against austerity measures at AP News. “Belgium’s three major trade unions organized the protest and nationwide strikes against cuts to the pension and healthcare systems…Organizers estimated more than 150,000 joined the demonstration, while the police put the crowd at 80,000.” Read more
Instagram says it’s safeguarding teens by limiting them to PG-13 content at AP. “This means kids using teen-specific accounts will see photos and videos on Instagram that are similar to what they would see in a PG-13 movie — no sex, drugs or dangerous stunts, among others…The company is also adding an even stricter setting that parents can set up for their children.” Read more
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Amazon fired a Palestinian engineer who was suspended last month after he protested the company’s work with the Israeli government at CNBC
Protein Is Showing Up in Doritos, Waffles and Now Even Pop-Tarts at Bloomberg/Financial Post. “The global market for foods fortified with protein is estimated to reach more than $100 billion by 2030, up from roughly $67 billion in 2023, according to Grand View Research. “I don’t think we’re anywhere close to the peak” of protein demand, which has been building for years, according to Randy Burt, a managing director at AlixPartners specializing in food and beverages.” Read more
Walmart wraps up Open Call, hands out more than 100 golden tickets at Talk Business. “Buyers from Walmart and Sam’s Club held more than 750 meetings with companies…Walmart said the newest cohort of suppliers joins the ranks of small businesses that comprise more than 60% of the retailer’s U.S. supplier base.” Read more
Kroger’s next CEO likely to come from outside company for first time in 143-year history at Cincinnati Business Courier. “Ladd detailed a number of people who in his view are potential candidates. All are external: Greg Foran, who is credited with turning around Walmart’s grocery business…Judith McKenna, former Walmart International CEO…Hal Lawton, CEO of Tractor Supply…Tony Hoggett, who was Amazon’s top grocery executive as SVP of worldwide grocery stores before leaving last year.” Read more
CRAMER: Goldman Sachs initiated coverage of CVS Health with a buy and a $91 price target.
Target Is Selling THC Beverages in Minnesota Test Run at Bloomberg. “The products are available in Target liquor stores with a cap of 5 milligrams of THC content and shoppers must be 21 to purchase items.” Bloomberg subs.
PODS moving trends: Americans head South – Coastal exodus persists Top 10 in/out cities list
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