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☆ Family Dollar and Dollar Tree will close 1,000 stores
▼ + stars: | 2024-03-13 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +1 min

Dollar Tree, which owns Family Dollar, also said it will close 30 stores as leases expire. Dollar Tree bought Family Dollar in 2015 for $8.5 billion. But Dollar Tree has struggled to integrate Family Dollar. Family Dollar stores were in poor condition when Dollar Tree acquired the business in 2015, analysts say. Although Family Dollar has renovated thousands of stores in recent years, many stores under both banners are still poorly maintained.

Organizations: CNN, Dollar, Walmart, Justice Department

☆ Dollar Tree posts downbeat results, plans to shut nearly 1,000 stores
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +2 min

Dollar Tree missed Wall Street expectations for quarterly sales and profit on Wednesday and laid out plans to shutter 970 of its Family Dollar stores, as the retailer looks to revamp the struggling business. Dollar stores have been struggling to deal with a shift in consumer spending to lower-margin essentials from higher-margin discretionary products like home decor, electronics and toys. In November, Dollar Tree had said it would be reviewing its Family Dollar business, including potentially shutting down underperforming stores, to return to growth. The discount store chain said it would close about 600 Family Dollar stores in the first half of fiscal year 2024 and 370 more over a period of a few years along with 30 Dollar Tree outlets, as their lease terms expire. For the full year, Dollar Tree expects sales between $31 billion and $32 billion, the mid-point of which is below analysts' estimate of $31.65 billion.

Organizations: Walmart Locations: Chesapeake , Virginia

One of their friends in Missouri had mailed them meat sticks made by Kevin Western, a Greentop local who made the snacks for fun and sold them around town. In December 2012, Maldonado and Ali started selling Chomps' first product — the original beef jerky stick — on its website. Trader Joe's placed an initial order for a million meat sticks to stock in over 400 stores. Chomps started selling meat sticks in Trader Joe's, its first national retailer, in July 2016. Building a jerky empireOnce Chomps started selling its sticks in Trader Joe's, other stores quickly followed, including Whole Foods, Target and Walmart.

Persons: Pete Maldonado, Maldonado, Rashid Ali, Slim Jims, Maldonado craved, Ali, Chomps, Here's, — Maldonado, Kevin Western, Gene Woo Kim Maldonado, you'll, —, Joe's, Rashid, Clint Boland Organizations: Facebook, taco, Whole Foods, Target, Walmart, CNBC Locations: Chicago, Long, Greentop , Missouri, Missouri, Greentop, Naples , Florida, U.S, Joe's, Naples

☆ McDonald’s prices are up, so lower-income consumers are eating at home
▼ + stars: | 2024-03-13 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

“It’s a challenging consumer environment,” said Ian Borden, McDonald’s CFO, noting that many consumers are trying to manage inflation, higher interest rates and dwindling savings. That includes their spending on food at restaurants such as McDonald’s, fast-food restaurants that historically prize value and affordability as core business values. According to February inflation data in the Consumer Price Index, food at home prices grew 1% year over year, while restaurant prices rose 4.5% over the last year. But the current surge in restaurant prices has flipped the script from a year ago, when it was cheaper to dine out. At that time, restaurant prices were up 8.4% and grocery prices were up 10.2% year over year.

Persons: “, ”, Ian Borden, ” Borden, Borden, McDonald’s, Dollar Organizations: New, New York CNN, Consumers, Company, Dollar General, Walmart Locations: New York, United States

☆ Walmart Wants to Teach Store Managers Compassion
▼ + stars: | 2024-03-12 | by ( Jordyn Holman | ) www.nytimes.com time to read: 1 min

On a stormy afternoon in Bentonville, Ark., a Walmart regional manager recounted a story about a moment when his humanity came up short. He was 24-year-old store manager anxiously trying to get his workers to set up Halloween merchandise displays. Instead, the workers were gathered around the televisions in the electronics department. He didn’t fully understand what was happening until a worker tearfully laid into him, explaining that she had relatives in New York City. “I didn’t take a minute to survey the room to understand the ramifications of my words and my actions,” the former store manager, David Seymore, now a regional vice president at Walmart, told his listeners.

Persons: ”, David Seymore, “ Organizations: Walmart Locations: Bentonville, Ark, New York City

Be on the lookout for new packaging, shop store brands, and keep track of the unit pricing to avoid losing money to shrinkflation. Buy store brandsStore brands typically have cheaper prices than the major brands that you find on store shelves. Think Kirkland brand at Costco or the store brands in Walgreens or Walmart. Because store brands are already generally the cheaper options, they will also be slower to repackage or downsize their products. For example, a 30-ounce jar of pickles that costs $8 would list a unit price of $0.27 per ounce.

Persons: Shrinkflation, Biden, shrinkflation, Kirkland Organizations: Costco, Walmart, Quicken Locations: Walgreens

☆ How a single mom with four kids who drives for DoorDash and Walmart Spark struggles to make ends meet: 'It is a never-ending vicious cycle'
▼ + stars: | 2024-03-12 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

Bri, a single mom of four, is struggling to make ends meet driving for DoorDash and Walmart Spark. Bri turned to gig driving after a knee injury made her previous job at an Amazon warehouse untenable. Gig driving with a disabilityBri was a business owner in home healthcare, but once the pandemic struck, she lost access to many of her clients. She was unsure how long Amazon's disability payments would last, and gig driving was one of her only options. She's driving her daughter's car after she wrecked hers a few months ago.

Persons: Bri, —, aren't, Lyft, Uber, DoorDash, She's, GrubHub, she's, hasn't, there's, I've Organizations: DoorDash, Walmart, Service, Business, Doordash, Amazon, Down, UPS Locations: Fort Worth , Texas, New York City, Galveston, Texas, bam, DoorDash

☆ Instacart, DoorDash, and other delivery service customers say their accounts were deactivated because of innocent mistakes
▼ + stars: | 2024-03-12 | by ( Alex Bitter | ) www.businessinsider.com time to read: +7 min

Some customers of Instacart, DoorDash, and other delivery services have had their accounts randomly deactivated. Other delivery customers have similar stories. Instacart's website says that customers' accounts can be deactivated "due to potential fraud or other risks." "In accordance with our Community Guidelines, Instacart can deactivate customer accounts in cases of suspected fraud," an Instacart spokesperson said. AdvertisementDo you work for or use Instacart, DoorDash, Uber Eats, Walmart Spark, or another gig delivery app and have a story idea to share?

Persons: —, Ryan Ladd, Ladd, rancid, Uber, Instacart Organizations: Service, Costco, Facebook, BI, Walmart Locations: Instacart, Denver , Colorado, South Carolina, Denver

☆ A '$28 trillion opportunity': Ark Invest reveals its top AI plays right now
▼ + stars: | 2024-03-11 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Ark Invest — which has a particular focus on innovation — is invested in segments including autonomous vehicles, drones and robotics, energy storage, 3D printing, and space exploration through its Ark Autonomous Tech & Robotics ETF (ticker ARKQ). Autonomous cars: A $28 trillion opportunity Autonomous cars is one area related to AI that Keeney is "particularly excited about." "Autonomous cars are already driving in major cities today across the globe. Autonomous drones: A 'very hot topic' Beyond automakers, Keeney is looking to ride the autonomy wave through opportunities in drones. Keeney emphasized that drone technology can transcend military use cases and be applied across industries.

Persons: Tasha Keeney, CNBC's, Tesla, Keeney, — Organizations: Ark Autonomous Tech, Robotics ETF, Invest, Defense, Security Solutions, Walmart, Google Locations: Mar

☆ About 63,000 Infant Swings Are Recalled Over Suffocation Hazard
▼ + stars: | 2024-03-10 | by ( Johnny Diaz | ) www.nytimes.com time to read: +1 min

Jool Baby, a brand of children’s products, has recalled about 63,000 infant swings that were sold at Walmart stores and online because they posed a suffocation risk, federal safety regulators said. The U.S. Consumer Product Safety Commission said on Thursday that the Jool Baby Nova Baby Infant Swing that was marketed, intended or designed for infant sleep posed a suffocation risk because it had an incline angle greater than 10 degrees. The product was in violation of the commission’s Infant Sleep Products Regulation and the Safe Sleep for Babies Act, the agency said. A study cited in the federal regulation of infant sleep products found that infants who slept in products with a 20-degree incline were exposed to increased demand on the abdominal muscles, which could lead to fatigue and suffocation. The same study determined that an incline of 10 degrees or below does not significantly affect infant motion or muscle activity.

Organizations: Walmart, U.S . Consumer Product Safety

☆ Why Walmart's quick success in generative AI search should have Google worried
▼ + stars: | 2024-03-10 | by ( Michelle Castillo | ) www.cnbc.com time to read: +4 min

During a call with analysts after its February earnings, Walmart CEO Doug McMillon talked about the gen AI search capabilities in its app. As a technology company, Walmart has to experiment a lot, and in the case of adding generative AI search capabilities, there's a very low cost for failure, she said. AI and search, shopping business model shiftsIt's not only Walmart investing in this type of search in the retail sector. Amazon's AI shopping assistant Rufus lets people have a conversation with the platform about what they need rather than just looking for direct items. "Google is anxious is about search in general, and the question this raises is will it be a death by a thousand cuts for Google Search?"

Persons: Doug McMillon, McMillon, Marc Lore, Sucharita Kodali, Kodali, Sergey Brin, Brin, Rufus, Jacob Bourne, Bourne, it's Organizations: Google, Walmart, Amazon, Insider Intelligence, Ikea, Lowe's

☆ This veteran investor is buying 'old economy' stocks that are embracing AI
▼ + stars: | 2024-03-09 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

Tengler named several attractively valued stocks she called the "picks and shovels" of AI, including Emerson Electric , L3Harris Technologies , Visa , Walmart and McDonald's . These companies are expected to boast continued strong growth and stock performance, aided by AI, she said. "Generative AI is much more compelling of a story than then the internet was in many ways," in terms of fueling productivity and growth, Tengler said. Walmart, another of Tengler's top "old economy" AI plays, has gained 14.4% so far this year, double the broader market. "They've benefited from embracing not just robotics and digitization, but generative AI in their e-commerce business and in improving margins," Tengler said of Walmart.

Persons: Nancy Tengler, Tengler, Berenberg, Emerson, L3Harris, Seth Seifman, They've, they've Organizations: Investments, Nvidia, Meta, Emerson Electric, L3Harris Technologies, Visa, Walmart, Aerospace, Defense Department, JPMorgan, Broadcom, Amazon, Microsoft Locations: Arizona, Friday's, Melbourne , Florida

☆ That security camera and smart doorbell you’re using may have some major security flaws
▼ + stars: | 2024-03-09 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +11 min

… I’m completely done with smart devices like that.”24-year-old Heather Hines is among the Wyze users whose personal camera footage was viewed during a recent security breach. Henderson, who owns 10 Wyze cameras, said he is starting to replace them with other brands. It also raises the question about whether the value of smart devices is worth the risks. Amazon and Google have experienced security breaches with Ring and Nest security devices in recent years. People can also reconsider how many smart devices they actually need in the home.

Persons: Heather Hines, Hines, ”, “ I’m, ” Hines, I’m, Eddie Henderson, Henderson, Dave Cosby, Tuck, Paddy Harrington, That’s, Michela, Michela Menting, “, ” Harrington, It’s, you’ve, they’ll, ” Menting Organizations: CNN, Wyze, Consumer, Amazon, Walmart, Sears, Federal Communications Commission, US, Forrester Research, Attackers, Google, ABI Research, Consumer Product Safety, White, FBI Locations: Southern California, Nova Scotia, Canada, China, ” Haddington

☆ 4 Slack communities helping creators of color and women land paid deals and discuss obstacles they face building businesses
▼ + stars: | 2024-03-08 | by ( Shriya Bhattacharya | Marta Biino | ) www.businessinsider.com time to read: +7 min

For creators and influencers, working online means it's not always easy to build community. TikTok creator Morgan Gadley started the Slack workspace OohhMG in early January because she wanted other BIPOC creators to have access to the brand deal opportunities that were constantly flooding her inbox. Here are four Slack workspaces helping women and creators of diverse backgrounds build their brands, as well as three other groups for influencers. After that, she started introducing creators of color with smaller followings into the group. Other Slack groups for influencersHere are three other Slack groups that influencers told BI have helped them make industry connections or land deals:

Persons: Slack, TikTok, Morgan Gadley, Jessy Grossman's, —, I've, Florence Howard, Shaakira Molisho, they've, Gadley, Grossman, she's, Calveiro, Ogilvy, Naimeesha Murthy, influencers Organizations: Business, Walmart, LinkedIn, Products, Women Locations: New York, India

Shop at Amazon Shop at Walmart What we like Check mark icon A check mark. Shop at Amazon Shop at Hatch What we like Check mark icon A check mark. Shop at Amazon Shop at Best Buy Shop at Casper What we like Check mark icon A check mark. What to look for in sunrise alarm clocksSunrise alarm clocks are a bit different from traditional alarm clocks, so there are certain features you want to consider before purchasing one. How we tested sunrise alarm clocksWe used each alarm for at least three days to test their features and performance.

Persons: Chris Winter, Hatch, Suzy Hernandez, I've, Philips, Jenny McGrath, It's, it's, Alex Dimitriu, William Winter, Dimitriu, Kelly Waters Organizations: Business, Charlottesville Neurology, Sleep, Philips, Amazon, Shop, Bluetooth, Walmart, Smart, Menlo Park Psychiatry, Eastern Psychological Association, SleepScore Labs, Spectrum Health Locations: Charlottesville, Nepal, Casper

Vizio would no doubt love to reclaim its spot, but the brand's new Quantum Pro 4K QLED TV (VQP65C-84) won't get it there. The Quantum Pro has its advantages, including impressive off-axis viewing and competitive gaming and motion response via its 120Hz panel. Vizio 65-inch Quantum Pro QLED 4K TV Vizio's Quantum Pro is a solid midrange 4K QLED TV with impressive viewing angles for its class. Ryan Waniata/Business InsiderMoving the Quantum Pro from the box to your TV console is relatively simple. Ryan Waniata/Business InsiderGaming with the Quantum Pro is mostly a good time, especially for brighter titles like "God of War: Ragnarok."

Persons: Vizio, Hisense, it's, Ryan Waniata, U7K, Harry Potter, there's, that's, There's, isn't Organizations: Business, Google, Quantum, Shop, Walmart, Dolby, Samsung, Sony, SmartCast, Alexa

The situation was so dire last year at one Walgreens store in San Francisco, employees resorted to padlocking frozen foods. The effort to undo some aspects of Prop 47 comes amid a broader check on some other liberal crime enforcement policies in America. Police data shows that larceny theft, which includes retail theft and car break-ins, is down 37% from this time last year. On Tuesday, San Francisco voters approved two ballot measures spearheaded by Breed. Last September, the state announced it would be sending $267 million to law enforcement agencies throughout the state to tackle organized retail theft.

Persons: Gavin Newsom, It’s, ”, Jason Henry, “, Marlene Harden’s, Harden, Chloe, …, ” Harden, Marlene Harden's, Thanh Tran, Tran, Ella Baker, CNN Lenore Anderson, ” Anderson, Richard Bailey of Coronado, Breed, Tayfun, –, Miracle, don’t, We’re, Newsom, He’s Organizations: San Francisco CNN —, Republican, Democratic, Democratic Gov, CNN, Public, Institute of California, state’s Department of Justice, Walgreens, Walmart, ” Walmart, Westfield San Francisco Centre, New York Times, “ Walgreens, ”, National Retail Federation, Target, Ella Baker Center for Human, Attorneys, San Francisco Mayor London, San Francisco Mayor London Breed, Anadolu Agency, San Francisco Chronicle, Police, “, San Francisco, Breed Locations: San, California, San Francisco, America, Oregon’s, San Diego County, Francisco, Texas, South Carolina

☆ Grocers are trying to get orders to your door faster than ever — here's why
▼ + stars: | 2024-03-07 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

Walmart expanded its same-day delivery offering to allow shoppers to get online purchases dropped off earlier in the morning. With same-day deliveries, the three retailers are not only trying to outmatch one another on convenience. With Target's announcement this week, Walmart, Target and Kroger will all have paid membership programs with home deliveries as one of the benefits. Kroger has used online delivery to break into new regions of the country, including Florida, without opening a single grocery store. Walmart and Target both beat Wall Street's sales expectations for the holiday quarter, but said shoppers are still very value-focused.

Persons: Kroger, Michael Baker, Davidson, Davidson's Baker, John David Rainey, Rodney McMullen, That's, McMullen, We've Organizations: Target, Walmart, D.A, Kroger, Costco, Albertsons, FTC, Wall Locations: U.S, Florida

☆ Aldi plans to open 800 new locations in the next five years
▼ + stars: | 2024-03-07 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

Some of the 800 new locations will be store conversions from its now-complete acquisition of Winn-Dixie and Harveys Supermarkets, with a “significant number” of those locations — largely located in the Southeast — ditching their respective names and being remodeled into an Aldi. Approximately 50 stores will be converted later this year, with a majority of those reopening under the Aldi name in 2025. However, the Winn-Dixie and Harveys Supermarkets names won’t completely disappear: Aldi said that a “meaningful amount” of locations will retain that branding. Aldi’s newest plan brings its store count to nearly 3,000 US locations, a notable expansion but still trailing against its rivals. If their merger is approved, Kroger and Albertson’s will have about 4,500 locations and Walmart, the nation’s largest grocer, has nearly 5,000.

Persons: Aldi, Winn, Neil Saunders, Saunders, ” Saunders, Albertson’s Organizations: New, New York CNN, Winn, Dixie, Harveys, Aldi, GlobalData, Kroger, Walmart Locations: New York, Northeast, Midwest, West, Southern California, Phoenix, Las Vegas

☆ Copilot dreams and nightmares: Microsoft insiders share what they really think about the company's AI future.
▼ + stars: | 2024-03-06 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +13 min

"Customers trust Microsoft more than OpenAI since they already buy Microsoft's ecosystem," a Microsoft AI researcher told BI. "Almost everyone I know is working on Copilot to a certain extent," the Microsoft AI researcher told BI. "It's too premature to assume this is going to be a race to the bottom on price," another Microsoft executive said. Some Microsoft employees work so closely with OpenAI that they have badges to get into OpenAI's offices, and some OpenAI employees can badge into Microsoft locations. Mistral models will be offered to Microsoft customers along with about 1,600 other models including Cohere and Meta's Llama.

Persons: there's, Morgan Stanley, Satya Nadella, they've, they're, Frank Shaw, Shaw, That's, OpenAI, JPMorgan Chase, It's, Dentsu, Shiva Vannavada, Vannavada, Eric Boyd, Scott, John Montgomery, Asha Sharma, Ashley Stewart Organizations: Microsoft, Business, Enterprise, Walmart, JPMorgan, BI, Google, Dentsu, Product, Technology, Employees, Nvidia, DA Davidson, AI Services, AI Bot, OpenAI Locations: OpenAI, Mistral

☆ Many single parents who drive for apps like Uber and Lyft say it's their best option — but they still can't pay their bills
▼ + stars: | 2024-03-06 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +12 min

AdvertisementFlexibility can be an illusionMost single parents with whom BI spoke said they valued the flexibility gig work gives them. Some single parents with disabilities said being able to take days off has helped them stay healthier and avoid burnout. This means that a higher percentage of single parents' earnings goes toward childcare costs, pushing some away from using childcare entirely. "These fluctuations and discrepancies can be devastating to individuals who don't have other mechanisms to make money, including single parents who are often operating on a single income," Greening said. AdvertisementIt's not easy for parents with older childrenThe issues single parents face still linger for those with older children.

Persons: Bri, Uber, Dara Khosrowshahi, Lyft, Uber hasn't, Susan, she's, Lindsey Cameron, Cameron, Cindy Lehnhoff, Lehnhoff, Bryant Greening, Greening, Starla, She's, Genesis, Paul, he's, It's humbling Organizations: Service, DoorDash, Walmart, Business, Wharton School, National Child Care Association, BI, Uber, Security Disability Insurance, Arizona State University Locations: Fort Worth , Texas, Grubhub, bam, Ohio, Jacksonville , Florida, Atlanta, Las Vegas

☆ Gen Zers want you to know they are sick of extravagant influencer brand trips
▼ + stars: | 2024-03-06 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +7 min

Gen Z is growing disinterested in the extravagant brand trips influencers are sent on. The generation that has grown up with social media says the lavish lifestyles of the internet's rich and famous no longer thrill them. Tarte brand trips are famed in the influencer worldFor years, brand trips have been a way to solidify a company's name among the young people who watch YouTube and scroll TikTok and Instagram. Varbanova said there are some young people — mostly millennials and DINKs — who still see over-the-top, out-of-touch brand trips as aspirational. If Gen Z's spending money is the goal, brand trips are missing the mark.

Persons: influencers, Katya Varbanova, Maureen Kelly, Tarte, Bora, Shein, Tahrea Sherman, Sherman, Phil Treagus, Evans, Influencers, Varbanova, It's, DINKs —, Rather, she'd Organizations: Service, YouTube, Walmart, Giraffe Social Media, BI Locations: Bora Bora, China

☆ Retailers turn to an unlikely source to boost profits. Walmart shows how powerful this lever could be
▼ + stars: | 2024-03-05 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

There are three main routes through which retailers like Walmart benefit from advertising, Tarlowe said. The focus in retail advertising once transitioned from in-store to retailer websites with the e-commerce boom, Gutman said. Walmart: The pack leader With the deal, Walmart appears ahead of the retail pack, Gutman said. Connected TV is also just one part of a broader tide-change that's bolstering optimism on the stock, analysts told CNBC Pro. Other retail ideas Beyond Walmart, analysts said retailers need size and scale to perform well within off-site advertising.

Persons: Jefferies, Corey Tarlowe, Tarlowe, Morgan Stanley, Matt, Simeon Gutman, Gutman, it's, Roku, FactSet, Warren Buffett, Franklin Templeton, Dan Niles Organizations: Walmart, Intelligence, Retailers, Albertsons, CNBC, P Retail, Costco, Target, FactSet, TGT, Nvidia, & & , & & () Locations: Arkansas, Vizio

☆ Walmart is a 'much more diversified' company than Target, says CFRA's Arun Sundaram
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalmart is a 'much more diversified' company than Target, says CFRA's Arun SundaramArun Sundaram, CFRA analyst, joins 'Squawk on the Street' to discuss Target as the company's stock is trading higher following the fourth-quarter earnings report, the divergence in equity performance between Target and Walmart, and more.

Persons: CFRA's Arun Sundaram Arun Sundaram Organizations: Walmart, Target

☆ Target just announced a new paid membership tier. Here's what $49 gets you.
▼ + stars: | 2024-03-05 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Target says it will soon launch Circle 360, a paid membership tier with unlimited same-day delivery. Target fulfills 95% of its web and app orders from its fleet of around 2,000 stores. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTarget is stepping up the competition with Amazon and Walmart with a new paid membership tier, Circle 360, that offers unlimited same-day delivery. CEO Brian Cornell said Tuesday the new Circle 360 service will launch on April 7 and will lean heavily on Target's Shipt service to "build unmistakable recognition for Target same-day delivery."

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

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