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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., 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 reached a settlement with US safety regulators regarding store conditions. [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 comparable sales outlook was also lowered. This decline raises concerns about the CEO's turnaround efforts and the financial health of low-income American shoppers. Dollar General faces competition from retailers that have been cutting prices and offering deals, such as Walmart. Other discount chains have also reported disappointing results. [Extracted from the article]

Dollar General Inc. has seen a decline in its shares after the discount retailer lowered its sales forecast for the year. The company now expects comparable sales to rise by 1% to 1.6%, down from the previous outlook of a 2% to 2.7% increase. Dollar General is working to improve its performance by focusing on labor hours, value products, and the supply chain. However, lower-income consumers, who are the store's core customers, have reduced their spending, and increased competition from other retailers has also impacted revenue. The company has also faced controversy regarding its store conditions and recently agreed to a settlement with US safety regulators. [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]

Dollar General Inc. has seen a decline in its shares after the discount retailer lowered its sales forecast for the year. The company now expects comparable sales to rise between 1% and 1.6%, down from the previous forecast of 2% to 2.7%. Dollar General is facing competition from other retailers like Walmart and Aldi, and is also dealing with a decrease in spending from its core customers, lower-income consumers. The company is implementing various strategies to improve performance, including focusing on labor hours, value products, and the supply chain. [Extracted from the article]

(Bloomberg) -- Best Buy Co.'s raised its annual profit guidance in a sign that demand for electronics and appliances could start to improve.The retailer said adjusted earnings per share for the year are expected to be as high as $6.35, up from $6.20 previously. Comparable sales for the second quarter also declined less by than what Wall Street analysts were expecting.The company's shares rose 7% in premarket trading in New York.©2024 Bloomberg L.P.By Jaewon KangReported by Author [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]

Kroger Co. and Albertsons Cos. are currently in a federal court hearing in Portland, Oregon, regarding the US Federal Trade Commission's attempt to block their $24.6 billion deal. The FTC argues that the merger would result in higher grocery prices for consumers and lower wages for unionized supermarket workers. Over 100,000 Americans expressed concerns about the proposed takeover, and the FTC claims that the merger would limit choices for customers and increase the merging firm's power. Kroger and Albertsons argue that they need to combine forces to compete against larger rivals like Amazon and Walmart. The trial is expected to last three weeks, and both CEOs are expected to testify. The companies have already spent over $850 million on legal fees and advisors. The FTC's odds of winning are considered good, given the industry's sensitivity and the companies' offered remedy. The acquisition has gained political attention, with Vice President Kamala Harris calling for a federal ban on food and grocery price gouging. Eight states and Washington DC have joined the FTC in the case, and separate suits have been filed in state court. The companies have proposed selling nearly 600 stores to C&S Wholesale Grocers Inc. to address antitrust concerns, but the FTC argues that this proposed divestiture is unlikely to work. The trial has also sparked debates about the definition of a grocery store, as the industry undergoes significant changes and competition intensifies. If the deal falls through, Kroger may focus on improving its existing stores [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]

Target Corp. has reported a 2% increase in comparable sales in the second quarter, ending a streak of sales declines. The company's earnings per share also exceeded expectations. Target attributes the turnaround to improved discretionary spending, higher traffic in stores, and rising online sales. The retailer has focused on lower prices, a new assortment of products, and a loyalty program to attract shoppers. Despite the positive results, Target remains cautious about the broader economy and maintains its guidance for flat to 2% growth in comparable sales for the year. [Extracted from the article]

Target Corp. has reported a 2% increase in comparable sales in the second quarter, ending a streak of sales declines. The company attributes the growth to improved discretionary spending and higher traffic in stores, as well as rising online sales. Target has implemented price cuts on essential items and focused on its loyalty program to attract consumers. While the company remains cautious about the broader economy, it has raised its earnings per share outlook due to strong profit performance. This turnaround contrasts with other retailers, such as Home Depot and Lowe's, who have cut their outlooks. [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]

Lowe's Cos. has lowered its full-year guidance due to a frozen housing market and decreased consumer spending on big purchases and renovations, including DIY projects. The retailer now expects comparable sales to fall 3.5% to 4%, worse than the previous forecast. Lowe's attributes the cut in forecast to consumers spending less on DIY projects and a challenging macroeconomic environment. The company is focusing on professional customers and online sales, and aims to gain market share when the housing market rebounds. Lowe's shares fell 0.9% in premarket trading. [Extracted from the article]

Lowe's Cos. has lowered its full-year guidance due to a frozen housing market and decreased consumer spending on big purchases and renovations. The retailer now expects comparable sales to fall 3.5% to 4%, worse than the previous forecast. Uncertainties around interest rates and inflation have created a challenging backdrop for the home-improvement industry. Demand for big-ticket home projects remains soft, but professional customers have remained resilient. Lowe's shares have risen 9.3% year to date. The company's results could potentially influence the Federal Reserve's decision on interest rate cuts. Americans have pulled back on discretionary spending and are prioritizing essentials. Retailers that sell necessities, like Walmart, have seen positive results. Lowe's and other home-improvement operators have been navigating a slowdown following the pandemic, with consumers focusing on smaller projects. Rival Home Depot Inc. also cut its full-year guidance, citing a "deferral mindset" among consumers. [Extracted from the article]

Lowe's Cos. has lowered its full-year guidance due to a frozen housing market and decreased consumer spending on big purchases and renovations, including do-it-yourself projects. The retailer now expects comparable sales to fall 3.5% to 4%, worse than the previous forecast. Lowe's attributes the cut in forecast to consumers spending less on DIY projects and a challenging macroeconomic environment. The company is focusing on professional customers and online sales, and aims to gain market share when the housing market rebounds. [Extracted from the article]

Lowe's Cos. has revised its full-year guidance due to a sluggish housing market and decreased consumer spending on big purchases and renovations, including DIY projects. The retailer now expects comparable sales to decline by 3.5% to 4%, worse than the previous forecast. Lowe's attributes the cut in forecast to consumers spending less on DIY projects and a challenging macroeconomic environment. This trend of reduced discretionary spending and prioritizing essentials has favored retailers that sell necessities, such as Walmart Inc. and Target Corp. Lowe's and other home-improvement companies are facing a slowdown in sales following the pandemic, with consumers focusing on smaller projects like gardens. Rival companies like Home Depot Inc. and Floor & Decor Holdings Inc. have also adjusted their guidance and forecasts due to consumer hesitation and the need for lower interest rates to improve demand. [Extracted from the article]

(Bloomberg) -- Lowe's Cos. lowered its full-year guidance as the frozen housing market keeps consumers on the sidelines with big purchases and renovations.The retailer said it now expects comparable sales to fall 3.5% to 4%, versus the previous forecast of a 2% to 3% decline. That is worse than the average analyst estimate compiled by Bloomberg. Lowe's also expects adjusted earnings to come in lighter than it previously forecast.©2024 Bloomberg L.P.By Jaewon KangReported by Author [Extracted from the article]

Kroger Co. plans to lower grocery prices by $1 billion if its merger with Albertsons Cos. is approved. This is double the amount of cuts previously committed to at Albertsons locations. The merger is facing legal challenges and pushback from officials and union groups concerned about higher prices for consumers and lower wages for workers. Kroger has made similar moves in the past with other acquisitions, investing in price cuts and experiencing a decrease in margins. The companies have already spent over $800 million on merger-related costs. [Extracted from the article]

Kroger Co. plans to reduce grocery prices by $1 billion if its merger with Albertsons Cos. is approved. This is double the amount of cuts previously committed to at Albertsons locations. The merger, aimed at competing with Amazon and Walmart, has faced opposition from officials and unions concerned about higher prices and lower wages. Kroger has made similar price-cutting moves in the past with other acquisitions. The companies have already spent over $800 million on merger-related costs. [Extracted from the article]

Walmart has raised its sales guidance for the year, citing increased consumer demand for necessities and bargains. The company now expects net sales to rise by up to 4.75% for the year, compared to previous guidance of up to 4%. Walmart's bullishness reflects the trend of US consumers prioritizing essential items like groceries and seeking value in their purchases. The company's sales of general merchandise have also grown after several quarters of decline, with lawn, garden, and seasonal products being particularly popular. Walmart's e-commerce business has also seen growth, with a 22% increase in the US. [Extracted from the article]

Walmart has raised its sales guidance for the year, citing consumers' focus on essentials and bargain-hunting. The company now expects net sales to rise up to 4.75% for the year, compared to previous guidance of up to 4%. Walmart's bullishness reflects the increasing selectivity of US consumers in the face of economic uncertainty and high interest rates. The company's sales of general merchandise have also grown after 11 consecutive quarters of declines, with lawn, garden, and seasonal products being particularly popular. Walmart's e-commerce business is also growing, with a 22% increase in the US. [Extracted from the article]

Walmart has raised its sales guidance for the year, expecting an increase of up to 4.75% as shoppers search for deals. The company's Chief Financial Officer stated that consumers are focused on essentials and value-seeking, but there is no significant decline in their financial health. Walmart's bullishness reflects the outperformance in the first half of the year, although uncertainty remains due to the upcoming US election and geopolitical unrest. The company's sales of general merchandise have grown after 11 consecutive quarters of decline, and its e-commerce business is approaching profitability. [Extracted from the article]

Kroger and Albertsons have spent over $800 million on fees for lawyers, bankers, and advisers for their proposed merger, which is facing legal challenges. The merger aims to help the companies compete against larger rivals like Amazon and Walmart. Kroger has spent about $535 million on merger-related fees, while Albertsons has spent $329.4 million. These costs do not include potential breakup fees. The companies have hired experts and advisers to assist with the litigation and investigation. [Extracted from the article]

Home Depot has revised its sales forecast for the year, anticipating a decline in consumer spending. The company now expects comparable sales to fall 3% to 4%, compared to the previous estimate of a 1% decline. This decrease in spending is attributed to consumers holding back on home purchases and larger renovations due to high interest rates and inflation. Home Depot's CFO, Richard McPhail, stated that customers are in a "deferral mindset" and are waiting for interest rates to decrease before making significant purchases. The company's stock rose slightly following the announcement. [Extracted from the article]

Home Depot Inc. has revised its sales forecast for the year, anticipating a decline in consumer spending. The company now expects comparable sales to fall 3% to 4%, compared to the previous estimate of a 1% decline. Home Depot attributes this decrease to high interest rates and inflation, which have led consumers to delay home purchases and larger renovations. Instead, consumers are focusing on smaller projects like gardens. The company's stock fell 2% in premarket trading following the announcement. [Extracted from the article]

Home Depot has revised its sales forecast for the year, expecting a decline of 3% to 4% in comparable sales due to consumers holding back on spending. This is a result of high interest rates and inflation, causing people to delay home purchases and larger renovations. The company's CFO stated that customers have the means to spend but are waiting for interest rates to decrease. Home Depot's stock fell 4.6% in premarket trading following the announcement. [Extracted from the article]

Home Depot Inc. has revised its sales forecast for the year, anticipating a decline in consumer spending. The company now expects comparable sales to fall 3% to 4%, compared to the previous estimate of a 1% decline. This adjustment is due to pressure on consumer demand, as high interest rates and inflation have led consumers to delay home purchases and larger renovations. Home Depot's recent acquisition of SRS Distribution aims to expand its presence in the professional contractor market. The company's earnings per share for the second quarter exceeded analysts' expectations. However, the overall weak performance of consumer-product companies this season suggests that Home Depot's sales may not immediately improve, even if the Federal Reserve cuts interest rates. [Extracted from the article]

Minnesota Governor Tim Walz is facing Republican attacks over the turmoil that followed the murder of George Floyd in Minneapolis in 2020. Critics point to the city's struggles to recover from the pandemic and riots, including a decrease in population and a surge in downtown vacancy rates. High crime and tax rates have also contributed to migration away from the city. However, Walz's administration has achieved strong state finances, securing AAA ratings and implementing progressive policies such as a new tax credit to reduce child poverty. Walz is popular with Minnesota's rural base and has been involved in efforts to revitalize Minneapolis. [Extracted from the article]

Costco Wholesale Corp. is increasing its membership fees for the first time since 2017. The basic membership fee will rise from $60 to $65 per year, while the premium membership fee will increase from $120 to $130 per year. This change will affect approximately 52 million memberships. Analysts have been anticipating this fee increase, and Costco executives have stated that it was only a matter of time. The company's customer base, which tends to be more affluent, has helped it remain relatively insulated from the broader decline in sales growth and discretionary spending. The fee increase is expected to bring in around $350 million in incremental sales and operating profit over the next two years. [Extracted from the article]

Costco Wholesale Corp. is increasing its membership fees for the first time since 2017. The basic membership fee will rise from $60 to $65 per year, while the premium membership fee will increase from $120 to $130 per year. This change will affect approximately 52 million memberships. Analysts have been anticipating this increase, and Costco executives have stated that it was only a matter of time. The company's customer base, which tends to be more affluent, has remained loyal despite the broader pullback in sales growth and discretionary spending across the sector. The fee increase is expected to bring in around $350 million in incremental sales and operating profit over the next two years. [Extracted from the article]

Costco Wholesale Corp. is increasing its membership fees for the first time since 2017. The basic membership fee will rise from $60 to $65 per year, while the premium membership fee will increase from $120 to $130 per year. This change will affect approximately 52 million memberships. Analysts have been anticipating this increase, as Costco typically raises fees every five years. The company's customer base, which tends to be more affluent, has remained loyal despite the broader pullback in sales growth and discretionary spending across the sector. The higher fees will provide a profit boost for Costco, which uses membership income to invest in operations and maintain low prices on bulk goods. [Extracted from the article]