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Despite these challenges, Walmart International has performed strongly under McKenna's leadership, under which it exited poorly performing operations in Japan, Britain, Argentina and Brazil. McKenna has led Walmart International since 2018, overseeing a multi-year transformation that resulted in the unit delivering more growth and stronger financial results across the board, Walmart CEO Doug McMillon wrote in a memo to employees. Sam's Club, a rival to Costco (COST.O), for years had been an underperforming business with muted sales growth. Sam's Club, a business unit with $84 billion of yearly revenue, has posted 12.7% average annual comparable sales growth since McKay took over the division, according to a Reuters calculation. Walmart also announced that Christopher Nicholas, currently chief operating officer of Walmart U.S., would replace McLay as CEO of Sam's Club.

Persons: Mario Anzuoni, Kathryn McLay, Judith McKenna, McKenna, Doug McMillon, Piper Sandler, McKay, she's, Edward Jones, Brian Yarbrough, Christopher Nicholas, Ananya Mariam Rajesh, Siddharth Cavale, Anil D'Silva, Sandra Maler, Jamie Freed Organizations: Walmart, REUTERS, Walmart Inc, Walmart International, Sam's, Woolworths, Sam's Club, Costco, Walmart U.S, McLay, Jan, Thomson Locations: Rosemead , California, U.S, China, Mexico, South Africa, Japan, Britain, Argentina, Brazil, India, Walmart's U.S, Walmart Mexico, Bengaluru, New York

☆ 13 Hollywood production companies making brand films that streamers like Netflix and Apple want to buy
▼ + stars: | 2023-08-09 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

said Marc Gilbar, who runs the brand division at Imagine Entertainment. Some are also looking to brand films to offset some of the revenue they're losing in the dual Hollywood strikes. (Brand films are often unscripted and thus aren't governed by the Hollywood unions.) They also see brand work being a positive for below-the-line workers who are idled by the work stoppage. Led by EVP Kate Oppenheim, Tribeca Studios' projects have included "We Could be King" (ESPN2) for Dick's Sporting Goods and P&G's Queen Collective series (BET).

Persons: Ben Silverman, Issa Rae's Hoorae, Kevin Hart's Hartbeat, Julian Jacobs, we've, Marc Gilbar, Samuel L, Jackson, Emma Stone, Zac Ryder, Olivia Wilde, Laurene Powell Jobs, Caitlin McGinty, It's, James Gay, Rees, Paul Martin, Kevin Hart's, Hart, Hartbeat, Brian Price, Chase Sapphire, Procter, Reese Witherspoon, Zoe Fairbourn, Ron Howard, Brian Grazer's, Ron Howard's, Bryce Dallas Howard, Gilbar, Rocco DiSpirito, General Mills, Rupert Maconik's Saville, Werner Herzog, Barry Levinson, Sugar23, Oscar, Michael Sugar, Trevor Noah's, he's, Kennedy, Matt Rotondo helms, Sugar, Mike Beck, Alexa Conway, Trevor Noah, Kate Oppenheim, HBO Max, Paul McCartney, Mary McCartney Ventureland, Kerstin Emhoff, Paul Hunter, John Battsek, Stacy's Pita Chips, Will, Jada Pinkett, REI, Gargi Organizations: Hollywood, Brands, Mattel, Netflix, Apple, UTA, Imagine Entertainment, Producers, Adobe, IBM, Anonymous, HP, Afghan Girls National Soccer Team, Showtime, Pepsi Boardwalk Pictures, Relativity Media, Super, Pepsi, REI, Unilever, Marriott, Surf League, Major League Soccer, Sam's, Gamble, Weinstein Co, Hulu, Imagine, Paramount, Saville Productions, Disney, Time Studios, Procter & Gamble, Anheuser, Busch, InBev, CAA, Studios, MSNBC, ABC, NBC, Tribeca Studios, Dick's Sporting Goods, HBO, CNN, Mobile, Stacy's, Everest, Vice Studios, Westbrook Media, Meta, Logitech, Samsung Locations: Hollywood, Subway, Magnolia

☆ Your snacks are getting more expensive. Blame these big food companies, not inflation.
▼ + stars: | 2023-07-27 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

But major food companies, from Nestlé to Unilever, increased prices much more than that. The world's biggest food companies spent the first half of this year raising prices, according to several earnings reports released this week. Some external factors have impacted the costs that major food companies pay to produce their products. It's especially easy for global food companies to raise prices, given that a few companies own most of the brands in many US grocery stores. But there's some evidence that consumers aren't willing to put up with higher food prices indefinitely.

Persons: PepsiCo's, Ramon Laguarta, We've, James Quincey, Quincey, PepsiCo's Laguarta Organizations: Consumer, Unilever, Service, PepsiCo, Quaker Oats, Gatorade, Federal Reserve, New York Times, Walmart, Costco, Sam's Locations: Nestlé, Wall, Silicon, Ukraine, Clorox, Kingsford, Europe

☆ Walmart cuts price of Walmart+ for households that receive food stamps, other government aid
▼ + stars: | 2023-07-20 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

The nation's largest retailer said Thursday that it will cut the price of Walmart+ in half for those low-income households. Walmart has not disclosed total Walmart+ subscribers, but said about a quarter of its members get government assistance. Walmart launched Walmart+ in 2020 to hook shoppers and increase the likelihood of them spending more on its website and in stores. Along with the Walmart+ discounted price, Walmart said it has made it easier for families receiving food aid to shop online. It said it now accepts SNAP online in all 50 states.

Persons: Doug McMillon, Morgan Stanley Organizations: Walmart, Nutrition, SNAP, United States Department of Agriculture, Amazon Prime, Costco, Sam's, Paramount, Consumer Intelligence Research Partners, Walmart Connect Locations: U.S, Alaska

[1/3] The sign outside the Sam's Club is seen at its store in Shanghai, China July 12, 2023. The membership stores are also gaining ground amid a sales decline in China's hypermarket sector, which struggled with a shift towards online purchases during the pandemic. The club warehouse format "is the only bright spot," said Derek Deng, who leads Bain & Company's consumer products practice in greater China. "Sam's Club are doing well. But Sam's Club was ultimately confident it is currently miles ahead, one of the people said.

Persons: Aly, Liu Zheng, lockdowns, Derek Deng, Bain, Kantar Worldpanel, Judith McKenna, Bain's Deng, Christina Zhu, Sophie Yu, Brenda Goh, Jamie Freed Organizations: Sam's, REUTERS, Sam's Club, Costco, Walmart, HK, Freshippo, Carrefour, Yonghui, Bain, Reuters Graphics, Reuters, Sun, Retail, M, Beijing Yaodi Agriculture, M Club, Thomson Locations: Shanghai, China, BEIJING, Beijing, U.S, United States, Carrefour China, Peking, Yangzhou, Lanzhou, Sam's

☆ Billionaires and corporate execs have dumped $9 billion worth of stock this year amid the market's latest rally
▼ + stars: | 2023-07-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Billionaires and CEOs have dumped $9 billion in stock this year. Many of those sales have been concentrated in the tech sector amid Wall Street's frenzy over AI. Executives have cashed in on the rally as the S&P 500 recovers from a dismal 2022 performance. Meanwhile, AirBnB co-founder Joe Gebbia sold off $893 million of his company's stock during the first half. Oracle CEO Safra Catz also trimmed her holdings of the company, selling $470 million worth of the company's stock.

Persons: Walton, AirBnB, Joe Gebbia, Larry Ellison, Safra Catz, Salesforce's Marc Benioff, Stephane Bancel, Josh Harris Organizations: Service, CNBC, Walmart, Sam's, Oracle, Moderna, Apollo, Vanda Research Locations: Wall, Silicon

☆ Costco is more like Netflix than Walmart — and it's key to how the company stays profitable
▼ + stars: | 2023-06-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Although it's the third-largest retailer in the world, most of its profit comes from membership fees. The recent news shows how wholesale clubs like Costco have more in common with Netflix than Walmart. Although Costco is the third-largest retailer in the world, its reliance on membership fees means it's in some ways more like Netflix than Walmart. Other operating costs, like payroll and utilities, mean the company retained less than $3.5 billion from its top-line sales last year. High costs have led Costco, Netflix to crack downFor years now, both Costco and Netflix have been content to look the other way as paying members shared passwords and ID cards in violation of their respective policies.

Persons: — Organizations: Costco, Netflix, Walmart, Service, Sam's

☆ Costco cracks down on membership card sharing
▼ + stars: | 2023-06-27 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

The retailer is cracking down on people sneaking into its clubs and trying to shop with other people's membership cards, it said Tuesday. Costco said it has always asked shoppers for their membership cards at the cash registers when they check out. Now, it is also requesting to see cards with a photo at self-checkout registers — and to view a photo ID if a shopper's membership card has no picture. The membership-based warehouse club said it has noticed more abuse of card sharing since it expanded self-checkout to more of its stores. Membership-based warehouse clubs have attracted more customers and won more of their wallets over the past three years.

Persons: Costco, Richard Galanti Organizations: Costco, The Dallas Morning News, Shoppers, Walmart, Sam's

☆ See the 12 major retailers most likely to take a hit when people start repaying their student loans
▼ + stars: | 2023-06-27 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +2 min

The investment banking firm found that more than a third of student debt holders' discretionary dollars go to the three retail giants. "The impending resumption of student loan payments could be a headwind to consumer spending ahead," the note said. Consumers with student debt spend around 18.58% of their discretionary spending at Amazon alone, according to consumer data company Numerator. Interest on student loan debt will start to accrue again in September, after a long pause that started at early in the pandemic. Meanwhile, the US Supreme Court is expected to rule this week on President Joe Biden's plan to cancel up to $20,000 in student debt.

Persons: —, Jefferies, Ross, Joe Biden's Organizations: Jefferies, Walmart, Target, Service, Amazon, Costco, UBS

☆ Costco is asking employees to heavily monitor self-checkout at some stores — and customers are divided
▼ + stars: | 2023-06-22 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Customers say employees often intervene when they are trying to purchase lots of items or bulky products. Several self-checkout users said workers have rung up everything in their cart with a handheld scanner and sent them on their way. They also compared Costco's process unfavorably to those of retailers that allow customers to use handheld scanners for large or bulky items at self-checkout. "Your Costco has hand scanners for members? If I want to use the hand scanner I have to take my food to Home Depot," a shopper said.

Persons: — Organizations: Costco, Service, Shoppers, Costco Corporate, Sam's Club

☆ I've traveled 18,000 miles in an electric car. Here are the 4 things that surprised me about long-distance EV road trips.
▼ + stars: | 2023-06-12 | by ( Gia Mora | ) www.businessinsider.com time to read: +7 min

She and her partner have traveled 18,000 miles in the electric car on multiple road trips. Here are four things people should know if they're planning to travel long distances in an EV. We arrange to fill up at an Electrify America station every 150 miles or so. More remote charging stations can be adventures in themselvesPlenty of charging stations look exactly as you'd expect, but when we ventured outside of major metropolitan areas, we discovered some unique stops. Green River, Utah, is home to 847 people, one Tesla Supercharger, and four Electrify America stations located beside the tiny, quirky Green River Coffee Company.

Persons: Gia Mora, Morris, it's, I'm, We've, we've, Lucky Buck Organizations: Hyundai, Walmart, Morning, Apple, Walmart Walmart, Sam's, Coffee, Yosemite National Locations: Los Angeles, Colorado, Scottsdale , Arizona, LA, San Diego, Nevada , Utah, New Mexico, America, Walmart's, Plenty, Green River , Utah, Yosemite

☆ Why Walmart, Costco, and Sam's Club workers check your receipts — and you should comply
▼ + stars: | 2023-06-10 | by ( Hayley Peterson | ) www.businessinsider.com time to read: +3 min

Walmart, Costco, Sam's Club, and many other retailers check shoppers' receipts at store exits. Retail employees check receipts to reduce theft and ensure customers leave with all their purchases. So why would any store check receipts if it creates if it causes so much tension? Why Costco and Sam's Club check receiptsBut checking receipts isn't just about reducing theft. "To ensure that you are charged correctly for the merchandise you have selected, Sam's Club may inspect or electronically scan your merchandise and electronic/phone or paper copy receipt(s) when you exit any Sam's Club location," the warehouse chain said on its website.

Persons: —, you've, Gloria Dawson, Costco, it's Organizations: Walmart, Costco, Sam's, Service, Shoppers Locations: Denver

Bank of America Customized Cash Rewards Credit Card for Students Review: Is It the Best Credit Card for You? If your credit falls short, consider other options like a secured credit card or a starter credit card that gives you a better shot at approval. Bank of America Customized Cash for Students RewardsStudent and no-fee credit cards don't always come with welcome bonuses or earn rewards for ongoing spending, but the Customized Cash Rewards Credit Card for Students offers both. Bank of America Customized Cash Rewards for Students Benefits and FeaturesThe Customized Cash Rewards Credit Card for Students doesn't come with luxury benefits like airline and hotel status or expedited airport security. Methodology: How We Reviewed the Bank of America Customized Cash Rewards for StudentsWe compared the Bank of America® Customized Cash Rewards Credit Card for Students to similar student and 0% APR credit cards from Bank of America and other card issuers, and evaluated several factors, including:Rewards earning potential — Does the card earn rewards at competitive rates?

Persons: don’t, you'd, cardholders, Merrill, You'll, you've, doesn't, you'll, Peter Rothbart, he's, Peter, Read, Angela Fung Organizations: Bank of America, of America, Bank of America's, Mobile Banking, Reading Chevron, Students, Amazon, Target, Walmart, Costco, Sam's, Merrill, Credit Cards Bank of America, Students Bank of America, Student, Banks Bank of America, Capital, Uber, Capital One Entertainment, Wholesale, Finance Locations: Capital, Seattle , Washington, Vegas, Pacific

☆ Dollar General customers are increasingly looking for 'items at or below the $1 price point' amid economic slowdown, CEO says
▼ + stars: | 2023-06-01 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Dollar General shoppers are pulling back on discretionary purchases, hurting the retailer's earnings. Dollar stores have previously fared well during economic shifts. Dollar General previously said that it expected earnings to rise as much as 6% for the year. That gave Dollar General shoppers less fun money to spend than expected. Shares of Dollar General were down nearly 20% at $161.31 in midday trading after the company reported earnings.

Persons: —, Jeffrey Owen, Owen, Todd Vasos, John Tomlinson, Tomlinson, It's Organizations: Service, Dollar, Walmart, Costco, Sam's Locations: America

☆ Sam's Club history: How Walmart grew its small-business supply store to a 600-warehouse behemoth locked in a battle with Costco
▼ + stars: | 2023-05-28 | by ( Ben Tobin | ) www.businessinsider.com time to read: 1 min

Kathryn McLay is the current CEO of Sam's Club, assuming the role in 2019. "We still see ourselves as the 'experiment' Sam Walton launched back in 1983, always looking to evolve and improve," she said in a recent LinkedIn post. Sam's ClubSource: Sam's Club, LinkedIn

☆ Five takeaways about the consumer from Walmart, other retailers after a big week of earnings
▼ + stars: | 2023-05-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +8 min

So far, at least five retailers – Target, Walmart, Tapestry , Bath and Body Works and Foot Locker – have spoken about sales trends across the country getting worse. The retailer's comparable sales in the U.S. declined 4.6% in the quarter versus the year-ago period. Target, Home Depot and Walmart all saw a noticeable pattern: Fewer pricey and fun items in shopping carts. At Home Depot, customers bought fewer big-ticket items like appliances and grills in the fiscal first-quarter. Customers at Walmart have become more selective when shopping for electronics, TVs, home items and apparel, Rainey told CNBC.

☆ Walmart will report earnings before the bell. Here's what to watch
▼ + stars: | 2023-05-18 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

Walmart will report fiscal first-quarter earnings before the bell on Thursday, after Home Depot and Target said shoppers have pulled back on big-ticket items and discretionary purchases. Walmart has attracted higher-income grocery shoppers over the past three quarters by emphasizing value, as food remains pricey. Walmart gave a weaker-than-expected full-year outlook in February, saying it expects same-store sales for Walmart U.S. to rise between 2% and 2.5%, excluding fuel. It said adjusted earnings per share would range from $5.90 to $6.05, excluding fuel, for the fiscal year. Shares have trailed the S&P 500 's roughly 8% gain and the XRT 's nearly 2% gain during the same period.

[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.

☆ Target wants shoppers to think of it for groceries as retailer braces for leaner spending
▼ + stars: | 2023-05-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

The big-box retailer also hopes by drawing shoppers for essentials like gallons of milk, it can nudge purchases of discretionary items that shoppers otherwise would not have bought. A 'Tarzhay' spin on groceriesOn a recent trip to a Minneapolis area grocery store, Gomez surveyed displays of colorful fruits and vegetables. In each of the past two fiscal years, Target has had double-digit sales growth in the food and beverage category. Target's grocery sales matter more as shoppers pull back in other areas. Grocery competition gets tougherCompetition for grocery shoppers has heated up, especially as consumers stretch their budgets.

☆ Check out the wild robot that Sam's Club is testing to make burgers in its cafes
▼ + stars: | 2023-05-14 | by ( Ben Tobin | ) www.businessinsider.com time to read: +2 min

Sam's Club recently unveiled a robot that can assemble a burger start-to-finish without humans. Walmart-owned Sam's Club is testing out a robot that can assemble your burgers — toppings, seasoning, and all — at a location in Fayetteville, Arkansas, not far from the company's headquarters of Bentonville. Sam's Club declined to comment when Insider reached out about the robot. Sam's Club does not have any current plans to roll out this robot nationwide, Tim Simmons, Sam's Club senior vice president and chief product officer, told Axios. Have you tried the Sam's Club burger or do you want to?

☆ Sam's Club's history: How Walmart turned a supply store for small businesses into Costco's biggest rival
▼ + stars: | 2023-05-09 | by ( Ben Tobin | ) www.businessinsider.com time to read: 1 min

☆ Walmart names insider Latriece Watkins as US merchandising chief
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - Walmart Inc (WMT.N) appointed Latriece Watkins as its U.S. chief merchandising officer, according to a memo seen by Reuters on Friday, days after Charles Redfield stepped down from the role. Watkins, who joined the company 24 years ago, has served in several roles across Walmart U.S. and Sam's Club. Last month, Walmart U.S. CEO John Furner wrote to associates that Redfield would step down and assume an advisory role supporting the U.S. business effective May 1. Watkins' appointment takes place at a time when consumer spending power has been reduced by high inflation, hurting Walmart's business and leading the company to adopt a cautious stance on 2023. "We have a rich history of strong leaders who embrace this constant change, set bold visions for our teams and best represent the humanity that is Walmart," Furner wrote in the memo.

☆ Sam's Club is testing out a robot that can grill and assemble your burger. And you can order and pay for it without even speaking to a human.
▼ + stars: | 2023-05-03 | by ( Ben Tobin | ) www.businessinsider.com time to read: +2 min

Sam's Club recently unveiled a robot that can assemble a burger start-to-finish without humans. Walmart-owned Sam's Club is testing out a robot that can assemble your burgers — toppings, seasoning, and all — at a location in Fayeteville, Arkansas, not far from the company's headquarters of Bentonville. Sam's Club declined to comment when Insider reached out about the robot. Sam's Club does not have any current plans to roll out this robot nationwide, Tim Simmons, Sam's Club senior vice president and chief product officer, told Axios. Have you tried the Sam's Club burger or do you want to?

According to complaints filed on Friday, Energizer agreed "under pressure from Walmart" to inflate wholesale battery prices for other retailers starting around January 2018, and require those retailers not to undercut Walmart on price. Walmart rivals allegedly risked higher wholesale prices or being cut off by Energizer, the largest U.S. disposable battery maker, if they charged less at checkout than Walmart, the world's largest retailer. According to the plaintiffs, Energizer's share of the U.S. disposable battery market has risen to more than 50% from 40% in 2018. The cases in the U.S. District Court, Northern District of California, are: Copeland et al v Energizer Holdings Inc et al, No. 23-02091, and Schuman et al v Energizer Holdings Inc et al, No.

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