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Walmart Inc. is launching a prescription delivery service in the US, aiming to compete with Amazon.com Inc. Customers can receive new prescriptions and medication refills along with groceries and other products in as little as 30 minutes. The service will be free for Walmart+ members and cost $9.95 per order for others, covering 49 states by the end of January and more than 86% of US households. Walmart is expanding its health services to meet customer demand, leveraging its fast delivery times and extensive store network. [Extracted from the article]

The top technology executive at Sam's Club, Cheryl Ainoa, is leaving the company due to Walmart's policy requiring corporate employees to relocate to Arkansas. Ainoa, based in California, is declining to move to Bentonville due to personal reasons after nearly five years with the company. Walmart's relocation policy has led to many executive roles moving to Arkansas, with Sanjay Radhakrishnan being promoted to CTO of Sam's Club as Ainoa prepares to depart in early February. [Extracted from the article]

Walmart has appointed Seth Dallaire as its chief growth officer for the US, expanding his role beyond running non-retail businesses. Dallaire, who previously served as Walmart's chief revenue officer, will now oversee marketing, design, and product teams in addition to his previous responsibilities. Walmart's newer businesses, such as advertising and data insights, have been driving growth and profitability for the company. The appointment comes as Walmart continues to attract higher-income consumers and reports higher traffic and market share. Additionally, Jon Alferness, chief product officer in the US, will be leaving the company. [Extracted from the article]

Home Depot Inc. has announced that it will require its corporate employees, including senior management and remote workers, to work an eight-hour shift at one of its stores every quarter. The company believes that this initiative will help them better understand the challenges and opportunities faced by their store associates. This move is unusual in the retail sector and comes at a time of increasing labor activism. Working in stores has historically been tough due to sporadic schedules, physical labor, and low pay, and retailers are now introducing new benefits and raising pay to improve retention. [Extracted from the article]

Kroger Co. has announced that it will be adding Walt Disney Co.'s streaming services as a new perk for members of its grocery delivery program, Kroger Boost. Premium-tier users will have access to the ad-supported versions of Disney+, Hulu, or ESPN+ at no additional cost, while basic-tier members will receive a one-time, six-month subscription to one of the services. This move comes as retailers, including Kroger, are looking to expand their membership offerings to increase loyalty and sales. The terms of the deal between Kroger and Disney have not been disclosed. [Extracted from the article]

Some US shoppers are buying large quantities of toilet paper due to concerns about potential disruptions caused by a port strike and increased demand in areas affected by Hurricane Helene. Charmin toilet paper is currently out of stock for delivery at many Costco stores across the country, and other brands and paper towels are also sold out in some locations. Costco and other retailers are working to replenish their supplies and do not anticipate any major supply challenges. This surge in demand for toilet paper is reminiscent of the early days of the pandemic when people hoarded it out of fear of running out. The port strike, which began on October 1, is led by the International Longshoremen's Association, a union representing workers in major Eastern US and Gulf Coast ports. Some other retailers, such as Kroger and Walmart, have implemented temporary purchase limits on certain products, including toilet paper and paper towels. While some shortages have been observed, companies like Kimberly-Clark and Procter & Gamble have stated that their ability to supply paper products has not been significantly impacted by the strike. [Extracted from the article]

Costco Wholesale Corp. is anticipating strong holiday sales as shoppers are buying non-food items earlier and taking advantage of deals amid cooling inflation. Costco's Chief Financial Officer, Gary Millerchip, stated that consumer electronics are expected to be cheaper during the holidays, leading to increased sales as people upgrade their computers and televisions. Costco's positive outlook is encouraging for the industry, which has been constrained by cautious consumer spending this year. To attract shoppers, companies like Amazon, Walmart, and Target are offering discounts and new merchandise. Costco has reported higher-than-expected sales and profits, with toys, seasonal items, and home furnishings being popular purchases. [Extracted from the article]

Costco Wholesale Corp. has reported higher-than-expected profit due to moderating prices and increased consumer spending. The big-box retailer saw a rise in earnings per share, with shoppers purchasing more non-food items such as home furnishings and tires. Costco's membership model and affluent customer base have historically insulated it from macroeconomic challenges. The company also experienced an increase in e-commerce sales and raised its membership fees in the US and Canada. However, some changes implemented by Costco, such as scanning membership cards at the entrance and packaging rotisserie chickens differently, may create friction with customers. US retailers are seeing mixed results, with consumers being selective and making trade-offs ahead of the holiday season. Costco is preparing for a potential port strike and has contingency plans in place. [Extracted from the article]

Costco Wholesale Corp. has reported higher-than-expected profit, indicating that consumer spending remains strong despite rising costs. The company's earnings of $5.29 per share for the quarter ended September 1 exceeded Wall Street analysts' estimates. While shopper traffic increased in the US, visitors spent slightly less per trip. Costco also gained more paid members, with approximately 90% renewing their membership during the quarter. The company has seen growth in non-food items and is investing in online sales. [Extracted from the article]

Sam's Club, owned by Walmart Inc., is increasing the starting pay for its hourly retail workers in the US from $15 to $16. The company also plans to give larger raises to employees with longer tenures. However, Sam's Club's starting pay still remains below that of its main competitor, Costco Wholesale Corp., which raised its starting wage for US workers to $19.50 in July. Low pay, strenuous activities, and unpredictable schedules have made retail work less appealing, leading to increased turnover during the pandemic. Walmart, the world's largest retailer, has also made efforts to improve employee compensation. [Extracted from the article]

The federal government is currently involved in a legal battle to prevent Kroger Co. from acquiring Albertsons Cos. for $24.6 billion. The case revolves around the question of how Americans currently buy their groceries. The Federal Trade Commission (FTC) argues that Kroger and Albertsons are the two largest "traditional supermarkets" and that their merger would harm competition. However, the grocers argue that the concept of a traditional supermarket is outdated and that customers now have a wide range of options for purchasing groceries. The outcome of this case will have significant implications for the grocery industry and antitrust enforcement. [Extracted from the article]

Kroger Co., a grocery-store operator based in Cincinnati, has raised its full-year sales guidance due to increased spending on groceries and other essentials by consumers. The company now expects comparable sales, excluding fuel, to rise between 0.75% and 1.75%. Kroger has attracted more customers and increased visits by offering low prices and personalized deals. The trend of prioritizing spending on food and staples has benefited essential-focused retailers like Walmart and Target, while hurting those selling big-ticket items. Kroger aims to keep prices low by offering discounts and fuel rewards. [Extracted from the article]

(Bloomberg) -- Kroger Co. lifted its full-year guidance as the grocery-store operator benefits from consumers prioritizing spending on groceries and other essentials.The Cincinnati-based grocer said it now expects comparable sales, excluding fuel, to rise 0.75% to 1.75%, up from the previous forecast of an increase of 0.25% to 1.75%.Kroger's households and customer visits grew thanks to low prices and personalized deals, Chief Executive Officer Rodney McMullen said in a statement.©2024 Bloomberg L.P.By Jaewon KangReported by Author [Extracted from the article]

Kroger CEO Rodney McMullen testified in a federal court case against the Federal Trade Commission's lawsuit to block Kroger from acquiring Albertsons. McMullen emphasized the threat of Amazon as a competitor and argued that the deal with Albertsons would allow Kroger to better compete against Amazon, Walmart, and Costco. Albertsons CEO Vivek Sankaran also testified, stating that the deal with Kroger was a significant decision for the company and would help them change their growth trajectory. Both CEOs highlighted the need for the deal to counter the competition and improve their ability to offer a wider range of products and services. [Extracted from the article]

Kroger CEO Rodney McMullen testified in a federal court case against the Federal Trade Commission's attempt to block Kroger's acquisition of Albertsons. McMullen argued that the deal would allow Kroger to better compete against Amazon, Walmart, and Costco. He emphasized the increasing competition from Amazon and Walmart, comparing it to the rise of Walmart in the 1980s. McMullen also discussed Kroger's efforts to diversify its operations and its commitment to investing in price reductions if the deal with Albertsons is approved. [Extracted from the article]

Dollar Tree Inc., Dollar General Corp., and Five Below Inc. have all experienced poor financial results, indicating a challenging period for dollar stores. These stores are facing difficulties due to increasing costs of living, which are reducing the purchasing power of low-income shoppers. In contrast, big-box retailers like Walmart and Target are not experiencing the same decline in demand, suggesting that they are attracting customers who previously shopped at discount chains. The dollar store sector is under pressure from both weak low-income customer spending and competition from larger retailers. Inflation has also impacted consumers, with prices remaining high even as inflation rates have declined. Dollar Tree, which also owns the Family Dollar chain, has lowered its sales outlook for the year and is considering a potential sale of Family Dollar. The struggles in the industry may complicate efforts to sell Family Dollar and improve business for Dollar General. Dollar Tree is closing underperforming stores and expanding its product range to include higher-priced items. [Extracted from the article]

Dollar Tree Inc., Dollar General Corp., and Five Below Inc. have all experienced poor financial results, indicating a challenging period for dollar stores. The purchasing power of low-income shoppers is being eroded by rising costs of living, while big-box retailers like Walmart and Target are not experiencing the same decline in demand. Truist Securities analysts suggest that dollar stores are under pressure from both weak low-income customers and competition from larger retailers. Dollar Tree, which also owns Family Dollar, has lowered its outlook for the year and is considering a potential sale of Family Dollar. The struggles in the industry may complicate efforts to sell Family Dollar and improve business for Dollar General. Dollar Tree is closing underperforming stores and expanding its product range to include higher-priced items. [Extracted from the article]

Dollar Tree Inc. has revised its full-year guidance due to cautious spending by its higher income consumers. The discount chain operator now expects low-single-digit growth in comparable sales, compared to the previous forecast of low-to-middle single-digit growth. Dollar Tree's shares fell 12% in premarket trading as a result. The company is facing challenges from high inflation and interest rates, as well as increased competition from other retailers focused on low prices. In response, Dollar Tree has expanded its product assortment to include items with a wider range of price points. The company is also reviewing potential strategic alternatives for its Family Dollar chain. [Extracted from the article]

Dollar Tree Inc. has revised its full-year guidance due to cautious consumer spending. The discount chain operator now expects low-single-digit growth in comparable sales, compared to the previous forecast of low-to-middle single-digit growth. The company's shares fell 12% in premarket trading, and its stock has fallen 43% this year. Dollar Tree and its competitor, Dollar General, are facing challenges from high inflation and interest rates, as well as increased competition from other retailers. In response, Dollar Tree has expanded its product assortment to include items with a wider range of price points. The company is also reviewing options for its Family Dollar chain, including a potential sale. [Extracted from the article]

Walmart is partnering with sneaker marketplace StockX to offer pre-verified shoes on its website. The partnership will initially include dozens of collectible sneakers from brands like Nike and New Balance, with the potential to expand to tens of thousands of products. This move is part of Walmart's efforts to strengthen its online business and compete with Amazon. The partnership will also help StockX reach a new consumer base. Walmart's online marketplace has been a growth engine for the company, offering a wide range of products and brands not available in its physical stores. [Extracted from the article]

Dollar General Inc., a discount retailer, saw its shares plummet after reducing its full-year sales forecast. The CEO stated that customers are cutting back on essential goods due to rising costs for other expenses like rent and healthcare. The company's stock dropped 32%, the largest decline since going public in 2009. This raises concerns about the CEO's turnaround efforts and the financial health of some US shoppers. Dollar General caters to low-income Americans, and other discount chains have also reported disappointing results. The company is facing competition from retailers that are offering deals and cutting prices. Walmart, Target, and Best Buy, which cater to higher-income consumers, have posted solid results. Dollar General's reduced forecasts may indicate that its back-to-basics plan is not resonating enough with financially constrained lower-income households. The company is focusing on labor hours, value products, and the supply chain to improve results. However, Truist Securities analysts believe that the company's weaknesses will persist in the foreseeable future. Dollar General recently settled with US safety regulators and agreed to pay penalties and establish new safety protocols. [Extracted from the article]

Best Buy Co. has raised its earnings guidance for the year, indicating that its efforts to turn around the company are starting to pay off. Consumers are upgrading their Covid-era purchases with new products that incorporate innovations like artificial intelligence. Best Buy expects adjusted earnings per share to be as high as $6.35, up from $6.20 previously, but has downgraded its annual comparable sales forecast. The company's shares jumped 18% at the start of trading in New York, and executives anticipate that new products, such as artificial-intelligence computers and Apple Inc.'s new iPads, will boost spending. [Extracted from the article]

Dollar General Inc. has seen a decline in its shares after the company lowered its sales forecast for the year. The discount retailer's comparable sales are now expected to rise by 1% to 1.6%, down from the previous outlook of a 2% to 2.7% increase. The company is working to improve its performance by focusing on labor hours, value products, and the supply chain. However, lower-income consumers, who are Dollar General's core customers, have reduced their spending due to financial constraints. Other retailers like Walmart and Aldi have increased competition with low prices and deals. Dollar General's earnings for the quarter also fell below expectations, as customers spent less per trip and sales of seasonal, home, and apparel items declined. The company has also faced controversy regarding its store conditions and recently agreed to a settlement with US safety regulators. [Extracted from the article]

Best Buy Co. has raised its earnings guidance for the year, indicating that its efforts to turn around the company are starting to pay off as consumers purchase more electronics. The retailer now expects adjusted earnings per share to be as high as $6.35, up from $6.20 previously. However, it downgraded the high end of its annual comparable sales forecast to a 1.5% decline from flat previously. Best Buy has been working to reverse its negative sales trend, with consumers holding back on purchases after buying electronics during the pandemic. The company is optimistic about future sales as consumers seek value and new technology products become available. [Extracted from the article]

(Bloomberg) -- Dollar General Inc. cut its full-year sales forecast, a sign that the discounter's turnaround efforts may not be fending off competition.The company said it now expects comparable sales to rise 1% to 1.6% for the year, down from the previous forecast of a 2% to 2.7% increase. The shares fell as much as 16% in trading before US markets opened.©2024 Bloomberg L.P.By Jaewon KangReported by Author [Extracted from the article]

Walmart is expanding its online marketplace to include pre-owned watches, collectible trading cards, high-end beauty products, and other pre-owned items. The move is aimed at increasing Walmart's e-commerce business and competing with rivals like eBay and Amazon. The marketplace has been successful in driving growth for Walmart, with online sales growing 22% in the US in the previous quarter. Walmart is also working to cut costs associated with e-commerce and has plans to verify sellers and offer fulfillment services. [Extracted from the article]

Kroger and Albertsons are currently in court facing the US Federal Trade Commission's (FTC) attempt to block their $24.6 billion merger. The FTC argues that the deal would result in higher grocery prices for consumers and lower wages for unionized supermarket workers. The grocery giants claim that they need to merge in order to compete with larger rivals like Amazon, Costco, and Walmart. The companies have promised to invest billions of dollars in price cuts, worker pay and benefits, and store improvements if the deal is approved. The trial is expected to last three weeks, and the CEOs of both companies are expected to testify. [Extracted from the article]

Lowe's, the home-improvement retailer, is reducing its diversity, equity, and inclusion (DEI) programs in response to activist pressure. The company will no longer participate in surveys for LGBTQ advocacy group the Human Rights Campaign and will consolidate its various business resource groups into one organization. Instead, Lowe's will focus on sponsoring events related to housing, disaster relief, and skilled trades education. This move comes as US corporations face criticism and legal challenges to DEI programs, with activists claiming they unfairly favor non-White workers. Lowe's is one of several companies targeted by activist Robby Starbuck, who claims credit for the changes. [Extracted from the article]

Lowe's, the home-improvement retailer, is reducing its diversity, equity, and inclusion (DEI) programs in response to activist pressure. The company will no longer participate in surveys for LGBTQ advocacy group the Human Rights Campaign and will consolidate its various business resource groups into one organization. Instead, Lowe's will focus on sponsoring events related to housing, disaster relief, and skilled trades education. This decision comes as US corporations face criticism for their DEI initiatives, with opponents arguing that they unfairly favor non-White workers. Activist Robby Starbuck claims credit for Lowe's policy change, but the company has not commented on this. Other companies, including Tractor Supply Co., Deere & Co., Harley-Davidson Inc., and Brown-Forman Co., have also scaled back their DEI activities in response to Starbuck's campaigns. [Extracted from the article]

Kroger and Albertsons are heading to court to defend their proposed $24.6 billion merger against the US Federal Trade Commission's (FTC) bid to block the deal. The FTC argues that the merger would result in higher grocery prices for consumers and lower wages for unionized supermarket workers. Kroger and Albertsons claim that they need to merge in order to compete with larger rivals like Amazon and Walmart. The trial comes as the Biden administration has increased antitrust enforcement, and the FTC's odds of winning are considered good. The merger has also attracted political attention, with Vice President Kamala Harris calling for greater antitrust enforcement on food mergers. The companies have already spent over $850 million on legal fees and other advisers for the merger. The trial is expected to last three weeks, and both Kroger and Albertsons CEOs are expected to testify. The companies have proposed selling nearly 600 stores to C&S Wholesale Grocers to address antitrust concerns, but the FTC argues that the merger would still harm competition in many cities and towns across the country. The proposed deal has sparked debates about the definition of a grocery store as the industry undergoes changes and faces increased competition from Amazon, European retailers, dollar stores, and regional operators. If the merger goes through, the combined entity would operate over 4,000 stores across 48 states and DC. [Extracted from the article]

Target Corp. has reported a turnaround in sales growth in the second quarter, with comparable sales rising 2% and earnings per share beating expectations. This marks a positive shift for the retailer after a period of sales declines caused by consumer pullback due to higher inflation and interest rates. Target's focus on lower-priced necessities, price cuts on essentials, and efforts to draw in consumers with trendy and affordable products have contributed to the improved performance. However, the company remains cautious about the broader economy and maintains a conservative outlook for the year. [Extracted from the article]

Target Corp. has seen an increase in sales by focusing on cutting prices on essential goods, attracting consumers who are feeling the effects of inflation. The company's comparable sales rose for the first time in over a year in the second quarter, with shoppers returning to Target stores for deals on items like bras and pool noodles, as well as price cuts on necessities like milk and bread. This trend is reflected in other retailers like Walmart and TJX Cos., who have also seen success by offering value and bargains. However, consumers are still hesitant to spend on big-ticket items and are waiting for interest rates to decrease. Target's comparable sales rose 2% in the quarter, driven by price cuts on basics like groceries. The company is cautiously optimistic about the future due to economic uncertainty. [Extracted from the article]

Target Corp. has experienced a turnaround in the second quarter, with a 2% increase in comparable sales and higher-than-expected earnings per share. This growth is attributed to consumers taking advantage of sales and purchasing discretionary products. Target's efforts to lower prices and offer new assortments in discretionary categories have resonated with shoppers, leading to increased traffic in stores and online sales. However, the company remains cautious about the broader economy and maintains its guidance of flat to 2% growth in comparable sales for the year. Other retailers, such as Walmart and TJX Cos., have also seen success by focusing on necessities and offering bargains. [Extracted from the article]