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The deal would give privately held C&S, primarily a supplier rather than an operator of grocery stores, a much more significant footprint. The stores that Kroger and Albertsons plan to shed are primarily in the Pacific Northwest and the Mountain states, along with some in California, Texas, Illinois, and the East Coast, the sources said. Bloomberg News reported about the talks between C&S, Kroger and Albertsons on Monday, as well as SoftBank's involvement but gave no information about the deal terms. Previously, Kroger and Albertsons said they may divest between 100 and 375 stores by placing them in a new company that Albertsons shareholders would own. In a regulatory filing Kroger said the upper limit for divestitures was 650 stores.

Persons: Rick Cohen, Cohen, SoftBank, Kroger, Ahold, Anirban Sen, Abigail Summerville, Juby Babu, Sherry Jacob, Phillips, Rashmi Aich, David Gregorio Our Organizations: Kroger, Albertsons Cos Inc, S Wholesale Grocers, Grand Union, Piggly, SoftBank Group Corp, Symbotic Inc, Albertsons, Bloomberg News, Thomson, & $ Locations: Pacific Northwest, California , Texas , Illinois, East Coast, New York, Bengaluru

☆ What's open and closed on Labor Day, September 4 holiday
▼ + stars: | 2023-09-03 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Labor Day is here, which means summer is winding down and schools are reopening. The first Monday in September also commemorates the American labor movement and contributions workers have made to the US economy. But if you have errands to run, here are the businesses and institutions that will be open and closed on Monday, September 4. Kena Betancur/VIEWpress/Corbis/Getty ImagesMost Walgreens and CVS (CVS) stores will be open during normal hours as well. CVS (CVS) said to call ahead to local stores as some pharmacy hours may be reduced, and other locations could be closed.

Persons: Kena Organizations: New, New York CNN, Labor, Walmart, Kroger, KR, Costco, Walgreens, CVS, United States Postal Service, FedEx, FedEx Office, Banks Labor, NASDAQ, New York Stock Exchange, Government Federal Locations: New York, Teterboro , New Jersey, State

☆ Stocks stage a comeback, while two Club tech names report — and what's on tap for next week
▼ + stars: | 2023-09-02 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

All three major U.S. stock indices rebounded this past week following a lackluster August, delivering their best one-week performances since July. Here's a quick update on the past week: The August ADP employment report numbers came in lower than expected. Earnings : No Club companies report next week. Over 99% of S & P 500 companies have now reported earnings results for the second-quarter season, according to FactSet. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Nonfarm payrolls, Dow Jones, Buster's, Jim Cramer's, Jim Cramer, Jim, Michael M Organizations: Dow Jones, Nasdaq, Federal Reserve, Labor, U.S . Labor Department, ISM Manufacturing, Broadcom, VMware, PMI, Photonics, Akoustis Tech, GameStop, Eagle Outfitters, SAIC, Brands, ABM Industries, Kroger, KR, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: U.S, Asana, ASAN, New York City

☆ Instacart’s mixed bag has valuation opportunities
▼ + stars: | 2023-08-28 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +4 min

If it doesn’t push valuation too hard, a public listing could be seamless. Instacart booked net income in 2022, a rarity for a growth company hitting the public market. That brings Instacart’s enterprise value to roughly $17 billion, less than half of what it was worth in 2021 but still higher than the internal valuation it inked last year. Follow @AnitaRamaswamy on XCONTEXT NEWSGrocery-delivery business Instacart filed paperwork to go public on Aug. 25 under the formal name Maplebear. The company, which did not share its target price range in the filing, grew revenue by 39% in 2022 to $2.6 billion.

Persons: Eric Cohn, Cheney Orr, Fidji Simo, Instacart, Simo, Apoorva Mehta, Domino's, Lauren Silva Laughlin, Sharon Lam Organizations: Safeway, REUTERS, Reuters, Nasdaq, Kroger, Aldi, Costco Wholesale, Companies, Thomson Locations: Tucson , Arizona, U.S, Cava

☆ US antitrust regulator names Henry Liu to head competition unit
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

Federal Trade Commission seal is seen at a news conference in Washington, U.S., July 24, 2019. REUTERS/Yuri Gripas/File Photo Acquire Licensing RightsAug 22 (Reuters) - The U.S. Federal Trade Commission (FTC) said on Tuesday that Henry Liu, a partner at law firm Covington Burling, would be the new director of the commission's Bureau of Competition. "I'm excited to have Henry at the helm of the Bureau of Competition," Chair Lina Khan said in a statement. At Covington & Burling, where he worked for 14 years, Liu rose to be a partner in litigation and antitrust practices, according to the statement. Liu went to Yale Law School, graduating in 2007, according to his LinkedIn page.

Persons: Yuri Gripas, Henry Liu, Covington, Liu, Henry, Lina Khan, R, Guy Cole Jr, Bill Clinton, Diane Bartz, Ismail Shakil, Rami Ayyub, Cynthia Osterman Organizations: Federal Trade Commission, REUTERS, U.S . Federal Trade Commission, Competition, Meta's Facebook, Amazon.com, FTC, Big Tech, Justice Department, Albertsons, Covington &, Yale Law School, U.S ., Appeals, Sixth Circuit, Thomson Locations: Washington , U.S, commission's, Covington, Covington & Burling, Washington, Ottawa

☆ Weight loss drugs boost sales at retail pharmacies, but they may not help profits much
▼ + stars: | 2023-08-21 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

George Frey | ReutersDrugmakers aren't the only ones feeling the impact of the weight loss industry gold rush. Retailers with pharmacy businesses, such as Walmart , Kroger and Rite Aid , said increased demand for prescription weight loss drugs helped boost sales for the second quarter. Are weight loss drugs profitable? A selection of injector pens for the Saxenda weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. For one, branded drugs don't directly compete with other medications because they have patent protections.

Persons: George Frey, Reuters Drugmakers, Arun Sundaram, it's, Elon Musk, Eli Lilly, Doug McMillon, Matthew Schroeder, Schroeder, Rodney McMullen, CFRA Research's Sundaram, Michael Lasser, Jim Vondruska, USC's Schaeffer Organizations: KR NOVO.B, Novo Nordisk, Pharmacy, Reuters, Walmart, Kroger, Rite, CFRA Research, CNBC, Nordisk, Elon, Pfizer, UBS, USC's, USC's Schaeffer Center for Health, Association Locations: Provo , Utah, U.S, GLP, Chicago , Illinois

☆ Here are some of the companies saying weight loss drugs could impact their business
▼ + stars: | 2023-08-18 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

The impact of new weight loss treatments is being felt well beyond the health-care industry . During the second quarter, which beat expectations , shoppers were still focused on health and wellness, CEO Doug McMillon said Thursday. Some companies already bar weight loss medications from their insurance plans to keep costs down. Executives said it was tied to an increase in specialty drug use for weight loss and diabetes. Eli Lilly's Mounjaro hasn't yet been approved for weight loss, though some people are taking it off label for that reason.

Persons: Eli Lilly, Joe Scalzo, Scalzo, Atkins, Regeneron, George Yancopoulos, Doug McMillon, WMT, Kroger, Paul Sarvadi, Eli Lilly's Mounjaro, Stephan Tata, Tata hedged, Tata Organizations: Analysts, Novo Nordisk, Co, Simply, Atkins, Walmart, WMT KR, Kroger, Cardinal Health, Drug Administration, Tata Locations: U.S

Research from the University of Southern California in 2021 found one in three neighborhoods in 30 populous U.S. cities were "pharmacy deserts." California Attorney General Rob Bonta has previously said he was "deeply concerned" about the proposed merger. "Post-transaction, Kroger will operate the pharmacies that are part of the Albertsons' stores that it acquires," the spokesperson said. Neither of the people who spoke with Reuters about pharmacy deserts knew if enforcers would file a lawsuit aimed at stopping the proposed transaction or when enforcers would decide what action to take on Kroger's plan to buy Albertsons. One source told the California attorney general's office that low income people were likely to lose access to pharmacy services, which include vaccinations, if the deal goes forward.

Persons: Kroger, Rob Bonta, Biden, Diane Bartz, Anna Driver Organizations: Albertsons, REUTERS, Rights, University of Southern, Reuters, Walmart, U.S, Kroger, Water Watch, Federal Trade Commission, Thomson Locations: Riverside , California, U.S, California, University of Southern California, Food

The "AI for business" diploma offers training in data and AI for client leaders, practitioners, and WPP executives, according to WPP's website. The team work under AI expert Daniel Hulme who was appointed chief AI officer at WPP two years ago. While lawmakers and philosophers alike still debate whether content produced by generative AI models amounts to anything like human creativity, advertisers have already begun using the technology in their promotional campaigns. Unilever, which owns more than 400 brands including Dove soap and Ben & Jerry's ice cream, has its own generative AI technology that can write product descriptions for retailers' websites and digital commerce sites, it said. The company's TRESemmé haircare brand has used its AI content generator for written content and its automation tool for visual content on Amazon.co.uk (AMZN.O).

Persons: Mark Read, Read, we've, Mondelez, Shah Rukh Khan, Daniel Hulme, Nestle, Gandon, Ray, Johannes Vermeer's, Aaron Rajan, Nestle's Gandon, Martin Sorrell, You've, Ben King, Richa Naidu, Martin Coulter, Matt Scuffham, Daniel Flynn Organizations: Nestle, Unilever, Marketing, Investment, Reuters, WPP, Oreo, Cadbury, Bollywood, YouTube, Facebook, University of Oxford, Global, Google, Go, Market Technology, Consumer, Walmart, Carrefour, Kroger, Thomson Locations: Africa, India, London, Swiss, Okta

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsWASHINGTON, Aug 16 (Reuters) - Officials from seven U.S. states wrote to U.S. antitrust enforcers on Wednesday to ask for Kroger's (KR.N) proposed $24.6 billion acquisition of Albertsons (ACI.N) to be stopped. In a letter to Federal Trade Commission (FTC) Chair Lina Khan, the secretaries of state said that the deal would give a combined Kroger/Albertsons nearly a quarter of the U.S. food retail market. Large, non-unionized competitors such as Walmart and Amazon would be the only parties to benefit if it were blocked, the spokesperson said. While federal antitrust agencies often work with state attorneys general on merger reviews, they do not usually work with secretaries of state, who in many states have a more limited business-oversight role. Reporting by Diane Bartz and Jasper Ward; editing by Susan Heavey, Sharon Singleton and Andy SullivanOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Lina Khan, Diane Bartz, Jasper Ward, Susan Heavey, Sharon Singleton, Andy Sullivan Organizations: Kroger Co, New York Stock Exchange, REUTERS, Rights, Albertsons, Federal Trade Commission, Kroger, Walmart, Amazon, FTC, Thomson Locations: New York City, U.S, Colorado , Arizona , Maine, Minnesota, New Mexico, Rhode Island and Vermont

[1/2] A customer leaves an Albertsons grocery store, as Kroger agrees to buy rival Albertsons in a deal to combine the two supermarket chains, in Riverside, California, U.S., October 14, 2022. It is unclear if the FTC will try to stop the transaction or when a decision would be reached. "Kroger and the FTC are focused on ensuring that any divested stores are positioned for success," the company said in a statement. Between them, Kroger and Albertsons operate nearly 5,000 stores with more than 800 in California. FTC staff spoke with the group in April.

Persons: Kroger, Biden, I'm, Rob Bonta, Chris Jones, We're, we're, Jones, Dan Waldvogle, Waldvogle, Sara John, Mayor Diego Plata, Diane Bartz, Chris Sanders, Anna Driver Organizations: Albertsons, REUTERS, Federal Trade Commission, Staff, FTC, Kroger, National Grocers Association, Walmart, Rocky Mountain Farmers Union, Center for Science, Safeway, Mayor, Thomson Locations: Riverside , California, U.S, Colorado, California, COVID, Colorado's Rocky, Gunnison, Plata

☆ Ocado jumps after return to first-half underlying profit
▼ + stars: | 2023-07-18 | by ( James Davey | ) www.reuters.com time to read: +2 min

Ocado also said its Ocado Retail business, the online supermarket joint venture it operates with Marks & Spencer (MKS.L), returned to profitability in the second quarter. Shares in Ocado jumped 14.6% in early trading after what Jefferies analysts called a "solid" performance. It maintained its guidance for Technology Solutions to deliver "positive" EBITDA over the full 2022-23 year, with Ocado Retail making "marginally positive" EBITDA, and Logistics making "stable" EBITDA. "Speculation is speculation, I have nothing to say," Tim Steiner, Ocado's founder and chief executive, told reporters on Tuesday. ($1 = 0.7641 pounds)Reporting by James Davey; Editing by Kate Holton, Jason Neely and Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.

Persons: Ocado, Spencer, Jefferies, Tim Steiner, James Davey, Kate Holton, Jason Neely, Mike Harrison Organizations: Marks, Kroger, Casino, Technology Solutions, Ocado, Logistics, Times, Thomson Locations: Ocado, United States, Japan, France, U.S

☆ Ocado keeps guidance after return to first-half underlying profit
▼ + stars: | 2023-07-18 | by ( James Davey | ) www.reuters.com time to read: +2 min

SummaryCompanies First half underlying profit 16.6 mln stgLosses at pretax level widen to 289.5 mln stgShares surged last month on takeover speculationLONDON, July 18 (Reuters) - Ocado (OCDO.L), the British online supermarket and technology group, kept its financial guidance for the year as it reported a return to underlying profit in its first half. However, at the statutory level Ocado's pretax loss widened to 289.5 million pounds from 211.3 million reflecting depreciation, amortisation and exceptional items. Ocado said there was no change to the financial guidance given at its full-year results in February. In the first half Technology Solutions was EBITDA positive, Logistics was flat and Ocado Retail made a small loss. The group maintained its guidance for Technology Solutions to deliver "positive" EBITDA over the full 2022-23 year, with Ocado Retail making "marginally positive" EBITDA, and Logistics making "stable" EBITDA.

Persons: Tim Steiner, Ocado, Spencer, James Davey, Kate Holton, Jason Neely Organizations: Times, Amazon, Ocado, Marks, Logistics, Technology Solutions, Kroger, Casino, Thomson Locations: U.S, United States, Japan, France

☆ Ocado jumps on return to first-half underlying profit
▼ + stars: | 2023-07-18 | by ( James Davey | ) www.reuters.com time to read: +3 min

The group swung to a profit for the six months to May 28, posting core earnings (EBITDA) of 16.6 million pounds ($21.7 million), ahead of a consensus forecast for a loss of 16 million pounds, and reversing a loss of 13.6 million pounds in the year-earlier period. Ocado (OCDO.L) said its Technology Solutions division made a profit for the first time, while its Ocado Retail business, the online supermarket joint venture it operates with Marks & Spencer (MKS.L), returned to profit in the second quarter. Shore Capital analyst Clive Black, a long term Ocado sceptic, focused on Ocado's losses at the pretax level, which widened to 289.5 million pounds. It maintained its guidance for Technology Solutions to deliver "positive" EBITDA over the full 2022-23 year, with Ocado Retail making "marginally positive" EBITDA, and its UK Logistics unit making "stable" EBITDA. The group's shares soared much as 47% on June 22 after the Times newspaper reported possible takeover interest from more than one U.S. suitor including Amazon (AMZN.O).

Persons: Spencer, Jefferies, Goldman Sachs, Tim Steiner, Ocado, Clive Black, Steiner, James Davey, Kate Holton, Jason Neely, Mike Harrison Organizations: Technology Solutions, Marks, Kroger, Casino, Shore Capital, Ocado, UK Logistics, Times, Thomson Locations: Ocado, United States, Japan, France, U.S

☆ What’s open and closed on July 4
▼ + stars: | 2023-07-03 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

Here’s what will be open and closed. Postal servicesThe US Postal Service will be closed on Tuesday and won’t be delivering mail. Normal FedEx services will be closed. However, FedEx Office will be open with modified hours and FedEx Custom Critical will be open. All United Postal Service operations will be closed except for UPS Express Critical.

Persons: won’t Organizations: New, New York CNN, Kroger, Walmart, Costco, Sam’s, Federal Reserve, Nasdaq, New York Stock Exchange, US Postal Service, Normal FedEx, FedEx Office, FedEx, United Postal Service, UPS Locations: New York, Independence

☆ US retailers targeted with bomb threats, seeking bitcoin and gift cards, Wall Street Journal reports
▼ + stars: | 2023-06-25 | by ( ) www.reuters.com time to read: +1 min

June 25 (Reuters) - Law-enforcement officials and retailers are investigating a recent wave of bomb threats across the United States, targeting grocery operators and other stores, the Wall Street Journal reported on Sunday. Retail companies including Kroger (KR.N), Walmart (WMT.N) and Amazon's (AMZN.O) Whole Foods Market, among others, have received bomb threats at their stores in recent months, the report said, adding that some callers demanded gift cards, bitcoin or money and threatened to detonate bombs if payments were not made. A similar incident was reported in a suburb north of Chicago, where a caller told a Whole Foods Market employee a pipe bomb had been placed in the store and demanded $5,000 in bitcoin, according to the Wall Street Journal. According to the report it is unclear to authorities whether the threats are part of an organized effort. Reporting by Shivani Tanna in Bengaluru, editing by Ros RussellOur Standards: The Thomson Reuters Trust Principles.

Persons: Shivani Tanna, Ros Russell Organizations: Wall Street, Kroger, Walmart, Foods, FBI, Thomson Locations: United States, New Mexico, Wisconsin, Chicago, bitcoin, Bengaluru

Data showed U.S. retail sales unexpectedly rose in May as consumers spent on a range of goods including vehicles. All 11 S&P 500 sector indexes rose, led by health care (.SPXHC), up 1.55%, followed by a 1.54% gain in communication services (.SPLRCL). The S&P 500 climbed 1.22% to end the session at 4,425.84 points. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 7.1-to-one ratio. The S&P 500 posted 48 new highs and no new lows; the Nasdaq recorded 80 new highs and 72 new lows.

Persons: TD Cowen, Ross Mayfield, Baird, who'd, David Russell, Kroger, Shristi Achar, Sruthi Shankar, Noel Randewich, Vinay Dwivedi, Shounak Dasgupta, David Gregorio Our Organizations: Nasdaq, Dow, U.S . Federal, Treasury, Apple, Microsoft, Fed, U.S, Market Intelligence, Dow Jones, Kohl's Corp, Alibaba, People's Bank of China, Thomson Locations: China, Bengaluru, Oakland, Calif

Shares of the retailer, which had consistently raised its outlook over the past two years, fell 4.5% to $45.07 after the dull forecast. Last month, rival Walmart raised its annual forecasts as more Americans shopped for its lower-priced groceries and other essentials. However, Kroger's gross margins rose 21 basis points, compared to a fall a year earlier, benefiting from lower supply chain costs as well as its efforts to source some products closer to its distribution centers. It also profited from shoppers - including higher-income consumers looking for more economical options amid persistent inflation - preferring its store-label brands to pricier national brands. Reporting by Granth Vanaik in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Joseph Feldman, Kroger, Rodney McMullen, Kroger's McMullen, Arun Sundaram, Granth, Shinjini Organizations: Kroger, Investors, Walmart, Albertsons, CFRA, Thomson Locations: Bengaluru

☆ Kroger beats profit estimates on easing costs, steady grocery demand
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

June 15 (Reuters) - Supermarket chain Kroger (KR.N) beat market expectations for quarterly profit and same-store sales on Thursday, benefiting from easing costs and steady demand for groceries and household essentials. Big-box retailers like Kroger and Walmart (WMT.N) have used their extensive nationwide operations to negotiate better deals with suppliers, which allowed them to keep prices substantially lower than competition and lure more people. The company said same-store sales, excluding fuel, rose 3.5% in the first quarter ended May 20, compared with analysts' average estimate of a 3.27% increase, according to Refinitiv IBES data. Excluding special items, Kroger earned $1.51 per share, beating estimates of $1.46 per share. Reporting by Granth Vanaik in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Kroger, Granth, Shinjini Organizations: Kroger, Walmart, pricier, Albertsons, Thomson Locations: Cincinnati , Ohio, Bengaluru

☆ Higher-Income Grocery Shoppers Are Shaking Off Higher Prices, Kroger Says
▼ + stars: | 2023-06-15 | by ( Jaewon Kang | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: kroger, kr

☆ Shoppers on food stamps are buying less and going to food banks as benefits drop
▼ + stars: | 2023-06-15 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Kroger and other chains say customers on food assistance programs like SNAP are struggling as aid shrinks. “Budget-conscious households are buying fewer items, particularly as SNAP benefits declined during the quarter,” said Kroger (KR) CEO Rodney McMullen on an earnings call Thursday. Customers are “making significant modifications” such as buying a four-pack of an item instead of a 12-pack. The decrease came with the end of a Covid emergency policy that increased SNAP benefits to the maximum level for every recipient. Dollar Genera (DG)l, Dollar Tree (DLTR), Walmart (WMT) and other chains have also said recently that customers on food stamps are struggling most.

Persons: New York CNN — Kroger, ”, Kroger, Rodney McMullen, Jeffrey Owen, ” Owen Organizations: New, New York CNN, SNAP, KR, “, Budget, Walmart, Dollar, Bureau of Labor Statistics ’ Locations: New York, Washington, DC

☆ The S&P climbs into bull market territory, with the Fed back in focus next week
▼ + stars: | 2023-06-10 | by ( Zev Fima | ) www.cnbc.com time to read: +3 min

This past week proved be another win for the bulls, as the market rally broadened out beyond the big players in the tech sector. The S & P 500 is officially in bull market territory, closing up over 20% from its October 2022 low. ET: Federal Open Market Committee Meeting After the bell: Lennar (LEN) Thursday, June 15 8:30 a.m. On Thursday, initial jobless claims increased by 28,000 for the week ending June 3, to 261,000, well above the 235,000 expected by the market. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: we'll, LEN, Jabil, Jim Cramer's, Friday's, Jim Cramer, Jim, Spencer Platt Organizations: Federal Reserve, CPI, PPI, Kroger, KR, Micro Devices, Jim Cramer's Charitable, AMD, U.S, West Texas, Treasury, CNBC, Street Bull, Financial, Getty Locations: U.S, New York City

☆ ‘Greedflation’ loosens its grip on food retailers
▼ + stars: | 2023-05-24 | by ( Aimee Donnellan | ) www.reuters.com time to read: +4 min

Big food manufacturers like Kraft Heinz (KHC.O) and Unilever (ULVR.L) are ratcheting down the price rises they have been inflicting onto supermarket chains. If food retailers can convince cash-strapped customers to skimp less and pay more, their profit margins will finally start growing. Last week, the country’s food retailers opened negotiations on prices with manufacturers like Coca-Cola (KO.N) and Unilever as food inflation surged to over 15% in March. Food manufacturers can certainly do more. Meanwhile, food inflation remained high at 19.1% in April versus 19.2% in March.

☆ Walmart lifts annual sales, profit view on resilient consumer spending
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

May 18 (Reuters) - Walmart Inc (WMT.N) raised its annual sales and profit targets on Thursday as the retail behemoth drew from price-conscious shoppers trading down to cheaper groceries, easing worries of softening consumer spending due to inflation. Shares of the top U.S. retailer rose about 2.6% as it also reported better-than-expected results for the first quarter. The strong results are a stark contrast to smaller rival Target's bleak second-quarter forecast, which it blamed on weak consumer demand. Walmart forecast second-quarter results above expectations. "We leveraged expenses, expanded operating margin, and grew profit ahead of sales," CEO Doug McMillon said.

[1/3] Packaged food for sale is seen on shelves at a Dollar Tree in Islandia, New York, U.S., May 12, 2023. Razor manufacturer Edgewell Personal Care Co (EPC.N) and Kraft Heinz Co (KHC.O) have overhauled or built new teams dedicated to working with the biggest U.S. dollar stores like Dollar Tree Inc (DLTR.O) and Dollar General Corp (DG.N) in the last year. Makers of food and household staples are pushing deeper into dollar stores because the low-cost retailers are opening thousands of locations each year. Griffin added that dollar stores are also introducing more "premium" private label brands, like Dollar General's Nature's Menu for pets. Kraft-Heinz also created a new team of five people late last year to identify and develop products for dollar stores, a spokesman said.

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