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☆ Walmart Opens the Year With Stronger Sales and Profit
▼ + stars: | 2024-05-16 | by ( Jordyn Holman | ) www.nytimes.com time to read: +1 min

The Numbers: Sales grew in stores and especially online. Walmart said its comparable-store sales in its U.S. business rose 3.8 percent from the quarter a year earlier. Walmart has performed better than retailers dependent on apparel sales, in part because it also sells essential goods like groceries. Walmart’s quarterly profit, of $5.1 billion, was triple the result a year earlier. The retailer’s stock rose in premarket trading, as investors reacted to last quarter’s results and the company’s upgraded forecast for growth this year.

Persons: ”, David Silverman Organizations: Walmart, Fitch

☆ Affluent consumers are creating a ‘bubble’ at Walmart, warns retailer’s former U.S. CEO Bill Simon
▼ + stars: | 2024-05-16 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Even though affluent shoppers helped drive the retailer's latest beat on quarterly results, former Walmart U.S. CEO Bill Simon warns they'll be hard to keep. His warning comes with Walmart stock hitting all-time highs going back to August 1972, when it began trading on the New York Stock Exchange. Last October on "Fast Money," Simon warned bargains were losing their magic because consumers were starting to buckle for the first time in a decade. "As long as there's inflation and those tail winds that come from particularly from food inflation, more traffic will come to the Walmart store," said Simon. "When inflation abates and service becomes more important than price, some of those tail winds will become headwinds," Simon said.

Persons: Bill Simon, they'll, it's, CNBC's, abate, Simon Organizations: Walmart, Walmart U.S, New York Stock Exchange, Darden Restaurants

☆ Walmart shoppers could claim up to $500 as part of a class-action settlement
▼ + stars: | 2024-04-05 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +2 min

CNN —Walmart shoppers could be entitled to as much as $500 as part of a class-action lawsuit settlement by the retailer over allegations that it overcharged customers for certain products. Walmart reached a settlement late last year to pay $45 million to customers, while denying any allegations of wrongdoing. They include:–$10 without a receipt, but a shopper can attest to buying up to 50 weighted goods and/or bagged citrus in-person in a Walmart store during the settlement class period. –$25 without receipts or proof of purchase but attest to buying 101 or more weighted goods and/or bagged citrus. Walmart shoppers can file a claim online or via mail, postmarked, on or before June 5, 2024.

Persons: “ Organizations: CNN, Walmart, Citrus Locations: United States, Puerto Rico

It brings the U.S. closer to the European Union and California, which moved ahead earlier with corporate climate disclosure rules. The narrowed rule doesn’t include requirements that companies report some indirect emissions known as Scope 3. And small or emerging companies don’t have to report emissions at all. The SEC has said many companies already report such information, and the SEC’s rule would standardize such disclosures. More than 5,300 companies will be required to report their emissions under the California rule, according to Ceres, a nonprofit that works with investors and companies to address environmental challenges.

Persons: Caroline Crenshaw, “, ”, Hester Peirce, ” Peirce, —, Hana Vizcarra, Vizcarra, Gary Gensler, Gensler, ” Gensler, Coy Garrison, ” Suzanne Ashley, ” Ashley Organizations: WASHINGTON, U.S . Securities, Exchange Commission, U.S, European Union and, Publicly, SEC, Republican, Companies, Associated Press Locations: European Union and California, Earthjustice, U.S, overreach, California, Ceres, AP.org

☆ Caitlin Clark is breaking more records
▼ + stars: | 2024-02-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —It wouldn’t be a Caitlin Clark game without a record being broken. The average purchase price for her game, as of Tuesday morning, is 1,100% more expensive ($557) than the average price of a WNBA game ($49). Clark hasn’t said if she will forgo the 2024 WNBA draft — where she is projected to be selected first overall — or remain in college for a fifth season. That meant college athletes like Clark could start making money off their likeness. Clark has also signed deals with Gatorade, Nike and State Farm, among others.

Persons: Caitlin Clark, Clark, TickPick, ” TickPick, Brett Goldberg, “, Clark hasn’t, Shedeur Sanders, Deion Sanders, ’, CNN’s Clare Duffy, Allison Morrow Organizations: New, New York CNN, NCAA, University of Iowa, Ohio State, University of Michigan, Carver, FOX, WNBA, CNN, Iowa, Big, Clark, University of Colorado Buffaloes, NFL Hall of, Gatorade, Nike, State Farm Locations: New York, Iowa, Ohio, Minneapolis

☆ Caitlin Clark just broke another record
▼ + stars: | 2024-02-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Caitlin Clark, the University of Iowa athlete who last week became the all-time leading scorer in NCAA women’s basketball, is breaking more records. That meant athletes, like Clark, could start making money off their likeness. Fanatics told CNN that that it sold more Clark-branded merchandise “than any other individual men’s or women’s NIL-era college athlete across all sports has sold since 2022,” in less than 24 hours after she broke the record last Friday night. And the growing profiles of top athletes like Clark are helping to bring more attention — and more revenue — to women’s college sports programs and professional leagues. He added that Clark herself has a following of “Clarkies.”CNN’s Clare Duffy and Allison Morrow contributed to this report.

Persons: Caitlin Clark, Clark, Shedeur Sanders, Deion Sanders, ’, can’t, Clark’s, ”, Patrick Rishe, St . Louis, “, ” CNN’s Clare Duffy, Allison Morrow Organizations: New, New York CNN, University of Iowa, NCAA, CNN, Clark, University of Colorado Buffaloes, NFL Hall of, Nike, Topps, Gatorade, State Farm, WNBA, Brands, “, Washington University Locations: New York, Iowa, St .

☆ Target fired me after I let a worker buy a Stanley cup. The emotional and financial toll have been severe.
▼ + stars: | 2024-02-20 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Target fired me after I allowed one of my baristas to buy a Stanley x Starbucks cupI never even bought a Stanley cup for myself — I hate the cups if we're being honest. Getting fired emotionally destroyed me because I'd spent the past eight months putting all of my time and energy basically rebuilding the store’s entire Starbucks team. I would go on Indeed.com and apply for every single job that I qualify for — and jobs I was overqualified for. Now I'm going to look at every single job as a means to an end. I'm going to make sure I read every single page of that employee handbook, and if there's something I don't understand, I'm going to get clarification on it.

Persons: Nikcole Smith, I'd, I’ve, Burger King, I’d, I've, I'm, they've Organizations: Starbucks, Target, Stanley, Business, Medicaid, Walgreens Locations: Baltimore , Maryland, Indeed.com, Burger

☆ Walmart Reports Rising Holiday Sales as Shoppers Seek Value
▼ + stars: | 2024-02-20 | by ( Jordyn Holman | More About Jordyn Holman | ) www.nytimes.com time to read: +2 min

The NumbersWalmart said its comparable store sales were up 4 percent in the three months that ended in late January compared with the year before. In addition to its same-store sales, Walmart said its U.S. e-commerce business increased 17 percent. At the same time, many retailers, including Walmart, focused on value last year as the economy cooled and shoppers became more selective. The Road AheadAnalysts expect retail sales to continue to moderate this year after a surge in consumer spending during the early stages of the pandemic. U.S. retail sales fell 0.8 percent in January from a month earlier, according to data released from the Commerce Department last week.

Persons: John David Rainey Organizations: Walmart, Target, Kroger, National Retail Federation, Analysts, Commerce Department Locations: U.S

☆ Putin's big week means more uncertainty for the markets during a critical time
▼ + stars: | 2024-02-13 | by ( Milly Struthers | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today’s big story, we’re looking at why the recent resurgence of Vladimir Putin and Russia comes at an inopportune time for the markets. The big storyPutin's big weekRebecca Zisser/Business InsiderVladimir Putin hasn't notched many personal wins since Russia's invasion of Ukraine, but last week was an exception. Putin’s successes further complicate a geopolitical situation that has silently loomed over a US economy trying to tiptoe past a recession.

Persons: —, florists, Vladimir Putin, Rebecca Zisser, Vladimir Putin hasn't, Tucker Carlson, he’s, Tom Porter, Carlson, Putin, Joe, Donald Trump, BI’s Brent D, Griffiths, Tom, GAVRIIL, Jamie Dimon, Ray Dalio, Jerome Powell, It’s, David Rosenberg, doesn’t, Alex Wong, Stocks, Savita Subramanian, Grammarly, Abanti Chowdhury, Zers, Temu, Sam Altman, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, NATO, Sputnik, Kremlin, JPMorgan, Bridgewater Associates, Reserve, Federal Reserve, Bank of America, Labor Statistics, Tech, Chiefs, 49ers, World, Ferrari, Business Locations: Russia, Ukraine, Russian, Moscow, China, Israel, Gaza, Washington ,, New York, London

☆ Everybody hates locked-up products. This company says it has a solution
▼ + stars: | 2024-01-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

New York CNN —People tend to hate going to a store and finding deodorant, toothpaste, shampoo, cosmetics and other everyday products locked up on shelves behind display cases. So some retailers are testing a way to let customers use their cell phones to open locked shelves. So stores are now testing a security tool that lets customers use their cell phone to unlock products on the shelf. Stores are now testing a security tool that lets customers use their cell phone to unlock products on the shelf. Earlier this month, Indyme’s website listed Kroger, Safeway, Lowe’s, Raley’s and other chains as retailers testing the security device.

Persons: ”, Joe Budano, Budano, “ We’ve, Raymond Burke, ” Burke, “ Organizations: New, New York CNN, Shoppers, Retailers, Indyme, Kroger, Safeway, Lowe’s, CNN, Indiana University, “ Locations: New York, St, Louis

☆ Five-foot Toy Story 3 bear draws the crowds at Costco’s first store in ‘China’s Silicon Valley’
▼ + stars: | 2024-01-13 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Costco unveiled its new 44,500-square-meter store in the city often dubbed China’s “Silicon Valley” on Friday, drawing large crowds in search of bargains and imported products. People line up outside the Costco store in Shenzhen, China, during its launch on January 12, 2024. Social media was awash with images of people taking home the giant version of the bear, measuring five feet tall. Lots-o-Huggin' Bear was among the more popular products on offer at the Costco store in Shenzhen during its launch on January 12, 2024. In China, Costco faces intense competition from online shopping platforms, such as Taobao and Pinduoduo, in a market where consumers are accustomed to online retail.

Persons: Costco’s, ” Kim Lin, Lin, ”, Olin Wang Organizations: Hong Kong CNN, Costco, CNN, Social, Sam’s, Walmart Locations: Hong Kong, Shenzhen, China, Shanghai

☆ Starbucks sued for alleged deceptive marketing of its ‘100% ethically’ sourced coffee
▼ + stars: | 2024-01-10 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +4 min

New York CNN —Starbucks is being sued by a consumer advocacy group alleging that the global coffee chain falsely and deceptively advertises the “committed to 100% ethical sourcing” claim on its coffee and tea products. There are significant human rights and labor abuses across Starbucks’ supply chain,” she said. Practices sourcing certification. Starbucks developed its own sourcing standards called Coffee And Farmer Equity Practices, or C.A.F.E in 2004. Greenberg said her group is seeking to restrict Starbucks from further engaging in deceptive advertising and to run a corrective advertising campaign.

Persons: “, ”, ” Sally Greenberg, Greenberg Organizations: New, New York CNN, National Consumers League, Starbucks, CNN, SCS Global Services, BBC Locations: New York, Washington, India, Brazilian, Brazil

The Singapore-based company has not determined the size of the deal or the valuation at IPO. The online fast-fashion retailer, which manufactures most of its merchandise in China, faces criticism that Uyghur forced labor is used to make its low-priced apparel and home goods. Earlier this year, the congresswoman led a bipartisan call for the SEC to halt Shein’s IPO until it verifies that the company does not use forced labor within its supply chain. Shein did not immediately respond to a request for comment, but the company has previously told Reuters it has “zero tolerance for forced labor” and has no contract manufacturers in Xinjiang. Shein's IPO is "going to be raising issues (for the SEC) that may later be applied across the board to all China-based or China-related companies that are going public," Penick said.

Persons: Chen Lin, Shein confidentially, Shein, Jennifer Wexton, Megan Penick, Robinson, Penick, Republican Sen, Marco Rubio, ”, Rubio, Chris Smith, Smith, ByteDance's TikTok, Group's, Katherine Masters, Arriana, Michael Martina, Marguerita Choy Organizations: REUTERS, Bloomberg, Beijing, U.S . Securities, Exchange Commission, SEC, Reuters, Reuters Graphics, Capitol Hill, Republican, Congressional, Commission, Oritain, U.S, Thomson Locations: Singapore, China, New York, U.S, Beijing, Washington, China's Xinjiang, Xinjiang, India

☆ Amazon’s shipping splurge delivers payoff
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

A worker sorts products during Cyber Monday operations at the Amazon's fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2023. In 2016, before its in-house logistics initiative took off, global shipping costs tallied about $16 billion, with customers covering about half. Last year, the total expense was about five times higher. Moreover, higher turnover means higher profit, especially from ancillary services such as advertising. And that’s before the generally lucrative holiday season, which should bring Amazon shareholders some more upbeat shipping news.

Persons: Robert Cyran, Julius Baer’s, Warren Buffett, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, UPS, FedEx, Wall Street Journal, Services, Shipping, Amazon, X, Thomson Locations: Robbinsville , New Jersey, U.S, America, China

☆ Retailer’s mistake leads to man winning $25,000 a year for life
▼ + stars: | 2023-11-25 | by ( Kelly Murray | ) edition.cnn.com time to read: +1 min

He also makes sure to buy a Lucky for Life ticket for 10 or 20 draws, according to the Michigan Lottery. On September 17, the retailer at a GoLo gas station made a mistake, accidentally printing a ticket with 10 lines for a single draw, Sopejstal told the Lottery. Sopejstal told the retailer he still wanted it. “I checked my ticket one morning and saw that I had won $25,000 a year for life,” he told Lottery officials. Sopejstal told the Lottery he plans to use his prize money to travel and save the rest.

Persons: Michael Sopejstal, Sopejstal, “, ” Organizations: CNN, Michigan Lottery, Lottery Locations: Illinois, Indiana, Michigan, Washington ,

☆ The Best Walmart Black Friday Deals 2023
▼ + stars: | 2023-11-22 | by ( Leslie Yazel | ) www.wsj.com time to read: +1 min

Keep browsing sales in our guide to Target’s sale as well our big list of sale items from popular retailers and brands. For early access to Walmart deals that start on Nov. 22, consider joining Walmart+. The paid membership will enable you to shop the retailer’s deals six hours before nonmembers—and potentially before popular products sell out (our writer’s favorite home power station is one of those deals). You can find additional buys in our dedicated tech deals guide. For clothing and shoes from other retailers, don’t miss our handpicked guide with the latest deals for your wardrobe.

Persons: Leslie Yazel, nonmembers —, you’ve Organizations: Walmart, Paramount, Electronics, Apple, Samsung, Sony Locations: U.S

☆ The Best Black Friday Deals on Clothing and Shoes
▼ + stars: | 2023-11-17 | by ( Madeline Diamond | ) www.wsj.com time to read: +7 min

By Madeline DiamondBlack Friday deals are already in full swing, and many of those markdowns are on clothing, shoes and accessories that we’ve tested and can recommend. Shop these items and a variety of active and loungewear made from recycled materials on sale now through Black Friday. NikeSave up to 60% on select clothing, shoes and accessories during Nike’s Black Friday sale. Black Friday handbag and accessories dealsCoachTake 25% off select full-price styles at Coach right now, and save even more on other sale items. Lo & SonsWe’ve recommended Lo & Sons’ travel bags in our stories on the best travel wallets and the best travel backpacks.

Persons: Madeline Diamond, Lo, Earth’s, loungewear, J.Crew J.Crew’s, Madewell, Nordstrom, REI, Cole Haan, Stuart Weitzman Stuart Weitzman, Zappos, it’s, We’ve Organizations: SCORE, Nike, Nordstrom, Vince, Black Locations: REI, men’s

☆ Welcome to Walmart’s Black Friday Sale
▼ + stars: | 2023-11-16 | by ( Leslie Yazel | ) www.wsj.com time to read: +1 min

Keep browsing sales in our guide to Target’s sale as well our big list of sale items from popular retailers and brands. For early access to Walmart deals that start on Nov. 22, consider joining Walmart+. The paid membership will enable you to shop the retailer’s deals six hours before nonmembers—and potentially before popular products sell out (our writer’s favorite home power station is one of those deals). ElectronicsMarkdowns on tech are common during Walmart’s Black Friday sales and this year is no exception. You can find additional buys in our dedicated tech deals guide.

Persons: Leslie Yazel, nonmembers — Organizations: Walmart, Paramount, Electronics, Apple, Samsung, Sony Locations: U.S

☆ Old Navy gives Gap a little something to cheer about amid sales slump
▼ + stars: | 2023-11-16 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +3 min

But signs of a turnaround for its Old Navy division offered at least something to cheer about. Overall revenue in the quarter for Gap Inc. fell 7% in the period over last year to $3.8 billion. Store sales across its brands in the quarter dropped 6%, while companywide online sales slumped 8% over the same time last year. Looking at its individual brands, sales at Gap’s namesake stores tumbled 15% versus a year ago. Excluding the negative impact from the sale of Gap China and the shutdown of Yeezy Gap, net sales for Gap were down 6% versus last year.

Persons: retailer’s, Richard Dickson, Dickson, Mattel, Barbie, “ Barbie ”, ”, Neil Saunders Organizations: New, New York CNN, Old Navy, Gap Inc, Refinitiv, Old, Industry, Warner Bros . Pictures, Inc, GlobalData Locations: New York, China

☆ Toys R Us is opening in America’s biggest mall as part of its comeback
▼ + stars: | 2023-11-13 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNN —Just a few years ago, Toys R Us was on its way to the retail graveyard after going out of business. Now, it’s coming to America’s biggest mall, just in time for countdown to Christmas. Toys R Us at one point was the leading toy chain in the United States and globally. But Toys R Us’ size – both in global store fleet and massive inventory – eventually contributed to its downfall as the company buckled under billions of dollars of debt. Since then, Toys R Us has been on an expansion frenzy as it attempts to reintroduce the toy store company to more online-savvy Millennial and Gen Z shoppers.

Persons: New York CNN —, Michael Siluk, Macy’s Organizations: New, New York CNN, America’s, WHP, Tru, of, Go, Retail Locations: New York, United States, of America, Bloomington , Minnesota, America, New Jersey

☆ Fact Check: Co-op statement on Israeli produce presented out of context
▼ + stars: | 2023-11-13 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A statement on the website of British food retailer the Co-operative Group (Co-op), which details the company’s policy on sourcing ingredients and trading with Israeli settlements or occupied territories, is being presented out of context online. “On this basis, we do not source any produce or own-brand products from the Israeli settlements. Israeli settlements in the occupied West Bank are deemed illegal by most countries and are a bitter issue in the Israeli-Palestinian conflict. The policy is years old and applies to produce sourced from Israeli settlements, not all of Israel. This article was produced by the Reuters Fact Check team.

Persons: ‘, “, Read Organizations: Twitter, Facebook, Israel, Rights, Trade, West Bank, Reuters, Thomson Locations: Palestinian, Territories, Western Sahara, Israel

☆ Rivian Plans to Make More EV Trucks, SUVs in 2023
▼ + stars: | 2023-11-07 | by ( Sean Mclain | ) www.wsj.com time to read: 1 min

Rivian says it has trimmed the losses on each vehicle it sells. Photo: mike blake/ReutersElectric-vehicle startup Rivian Automotive raised its production forecast for the year and said losses narrowed in the third quarter, as the company tries to increase output after a choppy two-year launch. Rivian also said Tuesday it was no longer required to sell its electric delivery vans exclusively to Amazon .com and was in talks with other potential customers. The companies were negotiating an end to the exclusivity part of their agreement after the online retailer’s order came in at the low end of a previously communicated range, The Wall Street Journal reported in March. Amazon owns a nearly 17% stake in Rivian.

Persons: Rivian, blake Organizations: Reuters, Automotive, Street, Amazon Locations: Rivian

☆ Holiday Retail Sales Are Expected to Increase, but at a Slower Pace
▼ + stars: | 2023-11-02 | by ( Jordyn Holman | More About Jordyn Holman | ) www.nytimes.com time to read: +3 min

The ContextHoliday retail sales are a closely watched measure of the health of the U.S. consumer and often the most lucrative time of the year for major retailers. The BackgroundThis year’s estimate of holiday sales growth is lower than in previous years. In 2022, holiday sales increased 5.3 percent from the year before to $936.3 billion. Average holiday sales growth from 2010 to 2019 (right before the pandemic) was 3.6 percent, the organization noted. What’s NextThis month, major retailers like Walmart, Target and Macy’s will report quarterly earnings and are expected to give their outlook on the fourth quarter.

Persons: ” Matthew Shay, ” Mr, Shay, Brian Cornell, “ They’re, Mr, Cornell, ” Organizations: Federal Reserve, Wall, Fed, National Retail Federation, Walmart, Target, CNBC

☆ Kohl’s holiday look previews the retailer’s plans to snap out of sales slump
▼ + stars: | 2023-10-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +8 min

Melissa Repko | CNBCAs shoppers head to Kohl's stores this holiday season, they will see gift ideas, Christmas ornaments and a potential glimpse of the retailer's future. Kohl's has leaned in by opening more Sephora shops inside of its stores. It'll be a bigger part of this holiday season. A year ago, roughly half of Kohl's stores had a Sephora shop. Pet merchandise is getting more square footage at Kohl's stores.

Persons: Merchant Nick Jones, Melissa Repko, Tom Kingsbury, Michelle Gass, Levi Strauss, Kohl's, Kingsbury, Christie Raymond, Covid, Raymond said, splurge, It'll, Raymond, Sephora, it's, Nick Jones, It's, Jones, Fido Organizations: CNBC, Burlington Stores, Franchise Group, Kohl's, Marks, ASDA, Walmart, Bed Locations: Ramsey , New Jersey, Kohl's

☆ Why Victoria’s Secret is bringing sexy back
▼ + stars: | 2023-10-17 | by ( Cathaleen Chen | ) edition.cnn.com time to read: +6 min

But in a presentation to investors in New York last week, it was clear which version of the brand Victoria’s Secret executives see as its future. Courtesy Victoria's Secret“Sexiness can be inclusive,” said Greg Unis, brand president of Victoria’s Secret and Pink, the company’s sub-brand targeting younger consumers. Within Pink, Victoria’s Secret will focus on improving the assortment of fleeces, sweatpants, tracksuits and other casual pieces. Adriana Lima became one of the faces of Victoria's Secret in 1999 and still features in many of it's campaigns. How Victoria’s Secret ventures into apparel will be conservative in manner, he said, and will follow a test-and-learn approach.

Persons: Megan Rapinoe, Valentina Sampaio, Paloma Elsesser, Carlijn Jacobs, Hailey Bieber, Emily Ratajkowski, Heidi Klum, Adriana Lima, Ali Tate, Cutler, Naomi Osaka, ”, Greg Unis, we’re, everyone’s, it’s, Martin Waters, Waters, activewear, Unis, Naomi Campbell, Albert Gilkey, Kim Kardashian, We’ve, ” Waters Organizations: Business of Fashion, CNN CNN, Tennis, Ariela, Associates, Pink, CNN Locations: New York, North America

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