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☆ I Went to Aldi and Saw Why the Discount Grocer Is Booming in the US
▼ + stars: | 2024-03-22 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

German grocer Aldi is planning to add hundreds of stores to the thousands it already has in the US. The chain focuses on keeping costs and prices low, making it popular as food remains pricey. I visited an Aldi store to see why the supermarket brand is expanding so fast. Now, Aldi is planning to open 800 more locations over the next four years, bringing its store count in America to 3,200. AdvertisementI decided to head to an Aldi store in Maryland, near Washington, DC, to see what it's like to shop at the fast-growing supermarket.

Persons: —, Aldi didn't Organizations: Aldi, Service Locations: America, Maryland, Washington

☆ Snoop Dogg is accusing Walmart of a 'diabolical' scheme to keep his cereal off their shelves
▼ + stars: | 2024-02-08 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Snoop Dogg's food company is suing Walmart and Post Consumer Brands for their "diabolical actions." The rapper accused the two companies of keeping "Snoop Cereal" off Walmart's shelves. AdvertisementSnoop Dogg and his fellow rapper Master P are accusing Walmart and Post Consumer Brands of colluding to keep their newly launched cereals off store shelves. The rappers' attorney Ben Crump in a statement on Wednesday accused Walmart of colluding with Post Consumer Brands. A spokesperson for Post Consumer Brands told Billboard that they "made substantial investments" in their partnership with Broadus Foods.

Persons: Snoop, —, Ben Crump, stockrooms, couldn't, Crump, Snoop Dogg Organizations: Walmart, Post Consumer Brands, Service, colluding, Broadus, Post Foods, Billboard, Business Insider Locations: colluding

☆ Snoop Dogg, Master P allege Walmart, Post Foods hid their cereal in sabotage plot
▼ + stars: | 2024-02-08 | by ( Diana Dasrath | Antonio Planas | ) www.cnbc.com time to read: +4 min

Snoop Dogg & Master P, seen at the 2017 Essence Festival at the Mercedes-Benz Superdome on Sunday, July 2, 2017, in New Orleans. Rappers Snoop Dogg and Master P are suing Post Foods and Walmart , accusing them of intentionally leaving the musicians' cereal off store shelves and hiding it in stockrooms to sabotage it. A big product under Broadus Foods is Snoop Cereal, sold in flavors that include "Fruity Hoops with Marshmallows" "Frosted Drizzlers" and "Cinnamon Toasteez." Snoop Dogg and Master P approached Post Consumer Brands, which the lawsuit calls a "breakfast juggernaut," seeking a partnership. According to the lawsuit, when it was placed on shelves, Snoop Cereal was popular and sold well.

Persons: Snoop, P, Calvin Broadus, Snoop Dogg, Percy Miller, Post Organizations: Mercedes, Benz, Post Foods, Walmart, Broadus Foods, Broadus, Post Consumer Brands, Post, Target, Kroger, Foods Locations: New Orleans, Dakota County , Minnesota, stockrooms, New Berlin , Wisconsin

LSEG Workspace, a financial news and data platform, calculated inventory turnover ratios of 30 major U.S. retailers for Reuters. "I am relatively pessimistic about the holiday season," said Gerald Storch, retail consultant and former Target vice chairman and ex-CEO of Hudson's Bay. Department stores' holiday season is "likely not going to be that strong," said David Swartz, a Morningstar analyst. Reuters Graphics Reuters GraphicsTo be sure, inventory turnover is not the only metric Wall Street investors use to judge retailers' inventory levels. Some are already slashing prices and dangling discounts to clear excess inventory before Black Friday, the start of holiday shopping season.

Persons: King, King of Prussia, Sarah Silbiger, Gerald Storch, Jeff Bornino, David Swartz, Ulta, pare, Jason Benowitz, Joseph Feldman, Jane Hali, Nordstrom, Brian Mulberry, Savyata Mishra, Ananya Mariam Rajesh, Richa Naidu, Siddharth Cavale, Aishwarya Venugopal, Rod Nickel Organizations: REUTERS, Dollar, Walmart, Reuters, North America, Kroger, Department, Morningstar, TJX Companies, Dick's Sporting, Reuters Graphics Reuters, Roosevelt, Telsey Advisory, Research, Associates, Nordstrom, Zacks Investment Management, Thomson Locations: King of, King, King of Prussia , Pennsylvania, U.S, Hudson's, North

☆ Netflix is hiring a flight attendant and offering a salary of anywhere between $60,000 and $385,000
▼ + stars: | 2023-01-18 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Netflix is recruiting for a California-based flight attendant for domestic and international trips. The total compensation for the role would likely be between $60,000 and $385,000, Netflix says. On some days the flight attendant would have to work ground duty in Netflix's San Jose hangar, which would involve provisioning aircraft and stockrooms. The flight attendant would report to the flight attendant manager, or to the pilot in command during trips. "The Netflix Aviation department provides exceptional, safe, confidential air transportation," the job listing says.

☆ Nike faces 3 obstacles that could threaten its dominance
▼ + stars: | 2023-01-14 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

New Adidas CEO Bjørn Gulden could reinvigorate the rivalry with Nike. Top of mind with stock pickers: Nike needs to shed inventory and get sales growing more in China. Where is the next leg of growth going to come from? Before the December earnings report, Simeon Siegel, managing director for equity research at BMO Capital Markets, told Insider Nike appeared to be turning a corner in China. Analysts also think new Adidas CEO Bjørn Gulden, who previously worked as CEO of Puma, could reinvigorate the rivalry with Nike.

☆ There's one big problem with Nike's plan to sell sneakers directly to consumers — they still love to shop at Foot Locker and Dick's
▼ + stars: | 2023-01-10 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

Since then, Nike's direct business has doubled, while its wholesale business has been flat. Last quarter, Nike's wholesale business at stores like Foot Locker grew faster than direct sales. In North America, wholesales increased 37%, while direct sales increased 23%. Since 2017, Nike's direct sales increased 106% to $18.7 billion, according to its last annual report. Nike's wholesale business now accounts for a little over half of sales, down from 72% in 2017.

But the sheer number of nurses working travel jobs, and the difference between what they thought was promised and what they pocketed, has led to a substantial legal pushback by travel nurses around the country on the issue. Courtesy Jordyn BashfordThis summer, Stueve Siegel Hanson, a Kansas City, Missouri, law firm, filed class-action lawsuits against four travel nurse agencies: Aya, Maxim, NuWest and Cross Country. Advertisements touted an hourly rate of $8 to $11, but many nurses wound up making less than $6, according to Pan Travelers, a professional association of travel nurses. But by February, after her first 13-week contract, Covid hospitalizations had waned and the demand for travel nurses had fallen. Mark Humphrey / APTwo travel nurses walk the hallways during their shift at a hospital in Rhode Island.

☆ 3 things that should be worrying Nike
▼ + stars: | 2022-12-26 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

New Adidas CEO Bjørn Gulden could reinvigorate the rivalry with Nike. Top of mind with stock pickers: Nike needs to shed inventory and get sales growing more in China. Analysts are also wondering how much competition Nike will face from Adidas under its new CEO Bjørn Gulden. Before the December earnings report, Simeon Siegel, managing director for equity research at BMO Capital Markets, told Insider Nike appeared to be turning a corner in China. Analysts also think new Adidas CEO Bjørn Gulden, who previously worked as CEO of Puma, could reinvigorate the rivalry with Nike.

☆ Lululemon just reported an 85% increase in inventory, but don't expect big holiday sales. Here's why.
▼ + stars: | 2022-12-09 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

CEO Calvin McDonald doesn't expect to slash prices to clear merchandise. The company expects revenue between $2.605 and $2.655 billion. Chief Financial Officer Meghan Frank said the company expects inventory to clear throughout the current quarter. McDonald said he doesn't expect to cut prices in order to move merchandise faster, aside from typical markdown activity. But while he described it as a "premium brand" with "pricing power," he doesn't expect to raise many more.

NEW YORK, NY, Oct 19 (Reuters) - The Ghost of Christmas Past haunts U.S. store shelves, sales floors and stockrooms this year. Retailers were sitting on $548.8 billion of inventory in July, a 21.6% increase from last year, according to U.S. Census data. Even with retailers slashing prices by up to 40%, shoppers so far this year are hesitant to make major holiday purchases. Increased markdowns and slowed consumer demand may hurt companies' gross margins, said Cowen retail analyst John Kernan in an October note. Analysts are expecting gross margins to shrink for each of the companies next quarter, according to data from Refinitiv.

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