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☆ Get ready for hot discount summer — see the list of stores slashing prices
▼ + stars: | 2024-06-01 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Inflation has slowed in recent months, but prices are still high in many consumer categories. Heading into the summer, retailers are beginning to offer savings, especially in the grocery aisles. Here's a roundup of major stores slashing prices, including Amazon, Walmart, and Target. AdvertisementThe weather is heating up and inflation is cooling down, but prices are still high in many consumer categories. As we head into the summer, retailers are beginning to offer savings in a big way, with discounts of up to 30% on thousands of products.

Persons: — Organizations: Amazon, Walmart, Service, Business

☆ 14 of the best specialty items to get at Aldi this month for under $5
▼ + stars: | 2024-06-01 | by ( Paige Bennett | ) www.businessinsider.com time to read: +1 min

In June, Aldi will offer limited-edition treats, fun drinks, and easy meal options for under $5. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementSummer is almost here, and Aldi's affordable food offerings stand out more than ever as grocery prices continue to rise . Don't miss out — here are some of the best things to get at Aldi this June for under $5.

Persons: — Organizations: Aldi, Service

☆ I spent a day with Chevrolet's two new electric cars. They may not be enough to turn the EV tide.
▼ + stars: | 2024-06-01 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Read previewChevy's electric aspirations are about to meet their toughest test yet with the launch of the Silverado EV and the Equinox EV. All of this adds up to the security that today's EV shopper is looking for, Majoros told me in an interview. The RST First Edition Silverado EV, which is on sale now, goes for $94,500. Equinox EV is a step in the right direction, but can it beat a hybrid? That could be bad news for Chevy dealers and Equinox EV, which might lose out in a comparison with Ford's or Toyota's hybrids.

Persons: —, Steve, Majoros, you've, it's, Ford's, Elon Organizations: Service, Silverado EV, GM, Business, Chevrolet, Motors, Silverado, Equinox Locations: Detroit

☆ ‘Buy Now, Pay Later’ Borrowers Get More Safeguards With New Rule
▼ + stars: | 2024-05-31 | by ( Ann Carrns | ) www.nytimes.com time to read: +1 min

Borrowers of the popular “buy now, pay later” installment loans should find it easier to dispute charges and get refunds under a new rule announced by the federal government last week. The Consumer Financial Protection Bureau, which has been scrutinizing the alternative loans for more than two years, ruled that “buy now, pay later” lenders were credit card providers and had to offer borrowers some of the same safeguards that conventional credit cards provided. The bureau issued its findings as an “interpretive” rule, meaning it stated its own interpretation of existing law. Shoppers can get a quick approval for the loan at checkout, often with a minimal credit check, and pay zero interest. Some lenders charge late fees for missed payments, while others simply cut off borrowers from new loans until they pay.

Persons: ” Rohit Chopra, they’re Organizations: Consumer Financial Protection Bureau

Take Gap and Foot Locker — two unlikely winners that posted results on Thursday. Under CEO Mary Dillon, Foot Locker has worked to change its stores, where it does more than 80% of its sales. It has tried to create not only a better shopping experience for consumers but also a better place for its critical brand partners. Instead of two walls of shoes with competing brands mixed together, Foot Locker is changing its fleet so the brands have their own unique displays. With refreshed stores and better product displays, consumers are converting more, too, and paying full price — even Foot Locker's lower-income shopper.

Persons: Locker, Richard Dickson, Anne Hathaway, Zac Posen, Mary Dillon, Foot Locker, Dillon, Dick's Organizations: U.S, Abercrombie, Fitch, TJX, Eagle, Navy, Banana, CNBC, Dick's Sporting Goods Locations: Banana Republic, New Jersey, North America

☆ Costco’s $1.50 hot dog price is ‘safe’
▼ + stars: | 2024-05-31 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Costco’s new chief financial officer has a reassuring message for inflation-weary customers: don’t worry about the price of the $1.50 hot dog-soda combo. “To clear up some recent media speculation, I also want to confirm the $1.50 hot dog price is safe,” Costco CFO Gary Millerchip said on an earnings call with analysts Thursday. With Costco’s leadership change — and other longtime deals like Trader Joe’s 19-cent bananas and Planet Fitness’ $10 membership ending amid rising inflation — some had speculated about the future of Costco’s $1.50 hot dog. If Costco’s hot dog deal kept pace with inflation, it would be three times as expensive today — nearly $4.50. The $1.50 hot dog is a powerful marketing tool for Costco and is synonymous with Costco’s brand.

Persons: New York CNN —, Gary Millerchip, Richard Galanti, ”, Jim Sinegal, “, ” Sinegal, Craig Jelinek, ” Millerchip Organizations: New, New York CNN, Costco, Walmart, Target, ” Costco, Seattle Times Locations: New York

☆ Foot Locker's turnaround is showing signs of life, CEO sees consumers willing to pay full price
▼ + stars: | 2024-05-30 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

A Foot Locker store in New York, US, on Monday, May 27, 2024. Foot Locker's turnaround is starting to bear some fruit. Dillon, the former CEO of Ulta Beauty , has been working to turn around Foot Locker, but those efforts have taken longer than expected. Dillon has also been working to revamp Foot Locker's stores, where it still does about 80% of its annual sales. "And I think it's coming to life in a way that our brand partners are thrilled with.

Persons: Locker's, Foot Locker, It's, Mary Dillon, Dillon, Locker, John Donahoe, She's, We've Organizations: LSEG, CNBC, Nike, Dick's Sporting Goods Locations: New York

☆ The American shopping spree is losing steam
▼ + stars: | 2024-05-30 | by ( Bryan Mena | Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

CNN —It’s becoming tougher and tougher for Americans to carry on with their spending spree. Years of elevated inflation and the highest interest rates in almost a quarter century are wearing out the US consumer. Savings accumulated during the Covid-19 pandemic are drying up, borrowers continue to rack up debt and delinquencies are marching higher. A second estimate of gross domestic product, released Thursday, showed that consumer spending was weaker in the first three months of the year than initially reported. Economists polled by FactSet are expecting data to be released Friday to show that consumer spending slowed notably in April from March.

Persons: CNN —, they’ll, ” Carol Schleif, FactSet, Thomas Kingsbury, TJ Maxx Organizations: CNN, Savings, BMO Family Office, Employers, Walmart, Dollar, Goods, Abercrombie, Fitch

☆ Here are the portfolio's top 5 performing stocks since April's Monthly Meeting
▼ + stars: | 2024-05-30 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

The latter fact is on display in our list of top-five performing portfolio stocks since the April 24 close through Wednesday's close, the eve of our May meeting. The chipmaker jumped 44.1% since April's Monthly Meeting. 4, Eli Lilly stock jumped 10.8% since our April 24 meeting. A slew of promising AI announcements helped fuel the stock's strong performance since the April meeting. More broadly, Broadcom has been one of the portfolio's biggest beneficiaries of the AI trade.

Persons: Dow, Jim Cramer, we're, Jim, Costco, Eli Lilly's, Eli Lilly, Jim Cramer's, Spencer Platt Organizations: Nasdaq, Dow Jones Industrial, Nvidia, Apple, China Academy of Information, Communications Technology, iPhone, Bank of America, Costco, Costco Wholesale, Walmart, Club, Broadcom, CNBC, Traders, New York Stock Exchange, Getty Locations: Wednesday's, China, U.S, Google's, New York City

☆ Kohl's stock plummets 20% after massive earnings miss
▼ + stars: | 2024-05-30 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Shoppers walk in front of a Kohl's store in Mount Kisco, New York. Kohl's shares plummeted more than 20% in premarket trading Thursday after the company posted a surprise loss per share, coming in well below Wall Street's expectations for a slight profit. Net sales decreased 5.3% to $3.18 billion compared with the year prior, with comparable sales down 4.4%. Kohl's expects full-year diluted earnings per share in the range of $1.25 to $1.85 — far lower than the $2.34 per share expected, according to LSEG. Kohl's announced in March that it would add similar in-store outposts of Babies R Us to about 200 locations.

Persons: Kohl's, LSEG, Tom Kingsbury, Kingsbury Organizations: LSEG, Wall Street Locations: Mount Kisco , New York

☆ Bank of America CEO says U.S. consumers and businesses have turned cautious on spending
▼ + stars: | 2024-05-30 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

U.S. consumers and businesses alike have turned cautious on spending this year because of elevated inflation and interest rates, according to Bank of America CEO Brian Moynihan. That's a sharp slowdown from the nearly 10% growth rate seen in May 2023, he said. Referring to consumers and businesses, Moynihan said: "Both of our customer bases that have a lot to do with how the American economy runs are saying, 'You know what? The same is true for small- and medium-sized businesses, the Bank of America CEO said. Moynihan and other bank CEOs have a birds-eye view of the economy, given their coast-to-coast coverage of households and companies.

Persons: Brian Thomas Moynihan, Brian Moynihan, Moynihan, That's, We've, They're, JPMorgan Chase Organizations: of America, U.S . Senate Banking, Housing, Urban Affairs, Wall, Capitol, Bank of America, The Fed, U.S, JPMorgan, Fed Locations: Washington , U.S, New York, McDonald's, U.S

☆ Foot Locker leaves our penalty box as CEO Mary Dillon's revamp plan turns corner
▼ + stars: | 2024-05-30 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

Foot Locker surged Thursday after its quarterly earnings report showed signs that CEO Mary Dillon's turnaround plan is starting to pay off. At its highs of the session Thursday, Foot Locker was up nearly 32% before giving up some of those gains. That counts for something, especially when Foot Locker's stock entered Thursday down nearly 35% since the session before the March disaster. Encouragingly, Dillon told CNBC that Foot Locker and Kids Foot Locker saw positive comp-store sales. Foot Locker Why we own it: We are in Foot Locker for the turnaround.

Persons: Locker, Mary Dillon's, Dillon, Thursday's, Foot, Mary Dillon, Jim Cramer, Encouragingly, comps, Nike, we've, Jim Cramer's, Jim, Xavi Lopez Organizations: LSEG, CNBC, Nike, Holding, JD, Dick's Sporting Goods, Shoppers, Lightrocket, Getty Locations: Oregon, It's, Spain

☆ Dick’s Sporting Goods raises guidance, says shoppers are spending more on sneakers and athletic gear
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDick’s Sporting Goods raises guidance, says shoppers are spending more on sneakers and athletic gearMichael Lasser, UBS equity research analyst, joins 'Squawk Box' to break down Dick's Sporting Goods' quarterly earnings results.

Persons: Michael Lasser Organizations: UBS, Sporting Goods

☆ Dick's Sporting Goods raises guidance, says shoppers are spending more on sneakers and athletic gear
▼ + stars: | 2024-05-29 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

A shopping cart sits in front of a Dick's Sporting Goods store on August 26, 2020 in Daly City, California. Dick's Sporting Goods on Wednesday said customers are spending more on new sneakers and athletic gear, leading the retailer to raise its full-year earnings guidance. That's ahead of the $13.25 that analysts had expected, according to LSEG. The low end of that range is only in line with the 2% growth that analysts had expected, according to StreetAccount. Dick's is expecting full-year revenue to be between $13.1 billion and $13.2 billion, which is also in line with estimates of $13.16 billion, according to LSEG.

Persons: Dick's, Lauren Hobart Organizations: Sporting Goods, Dick's Sporting Goods, LSEG Locations: Daly City , California, Dick's

☆ Benefits of secondhand clothing, goods according to Alicia Silverstone
▼ + stars: | 2024-05-29 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Alicia Silverstone stars in the 1995 film "Clueless." "I've been fighting the good fight to encourage people to buy used and make it sound cool," she said. Online shopping's hefty toll on the environmentWith the explosion of online shopping during the pandemic, a surge in returns seemed like a small price for everyone to pay. The return rate in 2023 was about 15% of total U.S. retail sales, or $743 billion in returned goods, according to the National Retail Federation's most recent data. For online sales, the numbers are even higher, with a return rate closer to 18%, or $247 billion of merchandise purchased online returned.

Persons: Alicia Silverstone, Stringer, Cher Horowitz, Cher, Silverstone, I've, Shraysi Tandon Organizations: CNBC, eBay, National Retail

☆ Walgreens is cutting prices on 1,500 items, joining Target, Walmart and Amazon
▼ + stars: | 2024-05-29 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Walgreens is joining other retailers in cutting prices across the board, from snacks to toiletries and even Squishmallows, in an effort to lure back inflation-weary shoppers turned off by high prices. Prices are dropping immediately on more than 1,500 items online and at its stores, which include both name and store brands, Walgreens announced Wednesday. In the past few weeks, competitors including Target, Walmart and Amazon slashed prices on thousands of household goods to rev up consumer spending. “Walgreens understands our customers are under financial strain and struggle to purchase everyday essentials,” said Tracey D. Brown, Walgreens’ retail president and chief customer officer, in a release. Meanwhile, a host of other retailers report earnings Thursday, including Dollar General and Costco.

Persons: ”, Tracey D, Brown, “, we’ve, Alliance’s, isn’t, Sarah Wyeth, “ There’s, ” Wyeth, Parija Kavilanz Organizations: New, New York CNN, Walgreens, Target, Walmart, Dollar, Costco, Shoppers Locations: New York

☆ EV range is making huge strides, but there still aren't enough places to charge.
▼ + stars: | 2024-05-28 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

But despite the vast improvements in battery technology, EV charging still can't hold a candle to the 5-minute stop to fill a gas tank. Related storiesCar companies hoped the public charging infrastructure would improve along with them as they built more range into their vehicles. AdvertisementWhat no one can seem to agree on is who is responsible for building out public charging infrastructure. All these industry efforts have helped to feed an EV charging infrastructure boom in recent years. The Biden Administration has set aside $7.5 billion for charging infrastructure with a vow to add 500,000 EV charging stations by 2030.

Persons: —, Biden Organizations: Service, Business, EV, GM, Pew Research, Department of Energy, Biden Administration, University of Michigan Transportation Research Institute

☆ 25% of consumers recently used a buy now, pay later loan, report finds. What to know as they become popular
▼ + stars: | 2024-05-28 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

As buy now, pay later programs become more common, some shoppers are using this payment structure to make ends meet. Such short-term financing plans are the second-most-used form of credit payment among consumers in the U.S., according to a new report by NerdWallet. Meanwhile, 25% said they had used BNPL services in the last 12 months. Far fewer consumers had used a cash advance app (10%) or a payday loan (6%) in the last 12 months, NerdWallet found. An equal share, 8%, expect to use BNPL for necessities in the coming 12 months.

Persons: Elizabeth Warren, NerdWallet, Sara Rathner, it's, Rathner Organizations: Federal Reserve Bank of New, NerdWallet, Finance Locations: Federal Reserve Bank of New York, U.S

☆ Why Bolivia is Latin America’s next dining destination
▼ + stars: | 2024-05-28 | by ( Joe Yogerst | ) edition.cnn.com time to read: +9 min

Capital city La Paz boasts three eateries — Gustu, Ancestral and Phayawi — currently ranked among the top 100 restaurants in Latin America. Bolivia’s food revolution has also spread to major cities such as Sucre as well as the Uyuni Salt Flats. Rather than fine dining, the ambience is decidedly casual, the tables spread across three floors of an old wooden townhouse in the boho Sopocachi neighborhood of central La Paz. Courtesy PhayawiZero-kilometer goes widerSucre, the nation’s judicial capital in south-central Bolivia, isn’t as cosmopolitan as La Paz when it comes to food. Courtesy Joe YogerstBut that’s not to say that Bolivia’s food revolution has reached every nook and cranny.

Persons: foodways, —, Marsia Taha, ” Taha, Taha, Joe Yogerst, Gustu, Claus Meyer, Meyer, ”, We’re, Sebastián Giménez, It’s, quinoa, it’s, Guadalupe, Joy, Uyuni, Tania López, López, “, Tika Organizations: CNN, La Paz, La, Nordic, Michelin, Mercado Central, padres, NASA, Hidalgo Tours Locations: Bolivia, South, Capital, Latin America, La Paz, Sucre, Bolivian, Gustu, Danish, Copenhagen, Lake Titicaca, Phayawi, Basque, altiplano, Argentina, San, city’s, El, Bolivia’s, Hidalgo, Sol

☆ McDonald's might never expand CosMc's. But the spinoff could still pay dividends
▼ + stars: | 2024-05-28 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Nearly six months since McDonald's opened its first CosMc's location, the hours-long drive-thru lines have died down, but the chain is just getting started. Since opening the initial location in the Chicago suburb of Bolingbrook, McDonald's has opened three more CosMc's restaurants, all in Texas. In another sign of the new brand's expansion, it will launch its own mobile app and loyalty program, called CosMc's Club, on Tuesday. And loyalty program members earn 10 points for every dollar they spend; once they rack up 400 points, they can redeem them for $2 rewards. CosMc's buzz dies downAt McDonald's December investor presentation, Kempczinski downplayed the short-term effect of CosMc's.

Persons: McDonald's, Chris Kempczinski, Katie Belflower, CosMc's, Mark Kalinowski, Kempczinski, we're, Frappes, Weeks, Kalinowski, Amelia Lucas Organizations: Lone Star State, CosMc's, Kalinowski Equity Research, CNBC, Intouch Locations: Chicago, Bolingbrook, Texas, McDonald's, Illinois

☆ China's gold rush shows the Chinese still have money to spend — they're just not into Starbucks or Gucci
▼ + stars: | 2024-05-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

It also reflects that there's money in the system — but Chinese consumers are just really not that keen on dropping their hard-earned cash at Starbucks or Gucci. China's demand for gold jewelry softened in the first quarter of this year due to the surge in gold prices but was still holding up well, according to the council. Gen Z Chinese consumers ditch luxury for goldUnlike the rush into gold assets, Chinese consumers are not running out to buy even more stuff, particularly foreign imports. China's savings rate was around 32% last year — compared to around 4% in the US, according to a McKinsey analysis of official data. "Chinese households are increasingly confronted by the weak long-term Chinese growth outlook and the slumping prices in China's residential real estate market," said Biswas.

Persons: —, Rajiv Biswas, Gen, LVMH Moët Hennessy Louis Vuitton, Gucci, Yves Saint Laurent, Laxman Narasimhan, Nomura, Lynn Song, Jean, Jacques Guiony, Biswas, McKinsey Organizations: Service, Gucci, Business, World Gold, Bloomberg, Starbucks, Huawei, Nomura, ING, McKinsey Locations: Japan, China, American, Greater China

☆ Amazon Fresh is the latest retailer to cut prices to win over inflation-weary shoppers
▼ + stars: | 2024-05-27 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

Amazon Fresh is cutting prices on about 4,000 products through weekly sales. Walmart and Target have also cut prices as customers deal with the long-term effects of inflation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAmazon is the latest major retailer to cut grocery prices. The retail giant will drop prices on about 4,000 items — some by up to 30% — at its Amazon Fresh chain, the company told CNN.

Persons: — Organizations: Walmart, Target, Service, CNN, Business

☆ Rising home equity levels could help stoke pent-up demand for these two stocks
▼ + stars: | 2024-05-27 | by ( Brian Evans | ) www.cnbc.com time to read: +8 min

How long this trend will last is unclear, though it's clear a lot will depend on the direction of interest rates. This dynamic isn't surprising given a high interest rate environment that has pressured consumers. "Elevated interest rates are causing customers to defer their large discretionary projects," UBS analyst Michael Lasser said. "This means that a recovery should be robust as interest rates move lower." "Existing home sales also continue to be a material headwind to remodel activity as long as interest rates remain relatively high," Badishkanian said.

Persons: Richard McPhail couldn't, McPhail, Marvin Ellison, Bradley Thomas, Greg Melich, it's, Michael Lasser, Melich, bode, Wolfe, Greg Badishkanian, Badishkanian, Edward Decker, KeyBanc's Thomas, Ellison, Lowe's, Thomas, Lowe's Ellison Organizations: Home, Federal Reserve, Depot, CNBC, UBS, Home Depot, Wolfe Research, Lowe's, Pro, FactSet Locations: Lowe's, Friday's

☆ A ‘rebrand’ for Lilly Pulitzer takes the classic resort label back to its roots
▼ + stars: | 2024-05-27 | by ( Diana Pearl | ) edition.cnn.com time to read: +7 min

A new logo (and merchandising) for the resort brand Lilly Pulitzer aims to be both timely, and timeless. Pictured above, a Lilly Pulitzer store in Sarasota, Florida. But it maintains firm roots in Palm Beach. “Nothing is more rooted in a resort Americana aesthetic than Lilly Pulitzer,” said Robert Burke, chief executive of retail consultancy Robert Burke Associates. This year, in addition to the Badgley Mischka collaboration, it rolled out a team-up with Natalie’s Juice, selling bottles of orange juice featuring a custom Lilly Pulitzer sticker.

Persons: Lilly Pulitzer, —, Lilly, Lilly Pulitzer hasn’t, Donald Trump, John Greim, ”, Michelle Kelly, Badgley Mischka, ” Kelly, Lilly Pulitzer’s, Nili, Pulitzer, “ Lilly, Kelly, “ It’s, Jacqueline Kennedy Onassis, Wendy Vanderbilt, Tommy Bahama, Johnny Was, Robert Burke, “, Robin Kramer, Burke Organizations: The, Fashion, CNN, Target, Hill, Apple, Palm Beach, Pulitzer, Oxford Industries, Robert, Robert Burke Associates, Natalie’s Locations: New York’s, Palm Beach , Florida, Sarasota , Florida, Philadelphia, Palm Beach, Cranston , Rhode Island

☆ Target is lowering prices and boosting its budget brands as it battles Walmart for shoppers on the hunt for deals
▼ + stars: | 2024-05-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Walmart has augmented its reputation for low prices with a number of Target-coded improvements such as refreshed stores, upscale product assortment, and smoother e-commerce options to see strong gains among higher-income shoppers. AdvertisementThe numbers indicate Walmart (among others) may be picking Target's pocket in terms of market share as inflation-weary consumers hunt for the best value for their dollar. Earlier this year, Target went after budget-minded buyers with a new line of essentials under the Dealworthy brand. Then late last month, Walmart took a shot at Target's Good & Gather-owned brand with an all-new upscale private label called Bettergoods.

Persons: —, Brian Cornell, Cornell, Christina Hennington, Target, Bettergoods, Hennington, We've Organizations: Service, Walmart, Business, Target Locations: Dealworthy

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