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☆ Costco members can save $1,000 or more on an EV from GM, Volvo, or Polestar this summer
▼ + stars: | 2024-05-02 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

This summer, the wholesale club is swinging big with $1,000 or more off EVs from four brands. There is one catch though: the deal is only available to people who were Costco members as of April 30. AdvertisementOne of the under-appreciated perks of a Costco membership is big savings on new cars. This summer, Costco is swinging big with $1,000 or more off EVs from four brands. From now until July 31, Costco members can take $1,000 off the price of a Cadillac Lyriq, Chevy Equinox EV, Chevy Blazer EV, Volvo C40 Recharge, or Volvo XC40 Recharge.

Persons: — Organizations: Costco, Service, haggling, EV, Blazer EV, Volvo

☆ Starbucks says mornings are so busy that one in 8 mobile customers are abandoning orders
▼ + stars: | 2024-05-01 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The company said a mid-teens percent of mobile customers abandon their carts due to long wait times. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Related storiesNarasimhan said on the company's earnings call that nearly two-thirds of Starbucks' morning business in the US is from rewards members using the mobile app, which has yielded a remarkable insight. "In other words, customers using Mobile Order-Pay put items into their carts and sometimes chose not to complete the order, citing long wait times and product unavailability." That works out to more than one in eight mobile order customers opting not to buy a menu item they were otherwise interested in — a hefty chunk of cash left on the table for Starbucks.

Persons: —, Laxman Narasimhan, Narasimhan Organizations: Starbucks, Service, Mobile Locations: Seattle

☆ Sam's Club says getting rid of physical receipt checks at the door has been a big success
▼ + stars: | 2024-04-30 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Sam's Club's new AI-powered purchase verification tech is now in more than 120 locations across the US. The Walmart-owned warehouse club says it has helped get shoppers out the door 23% faster. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementSam's Club's new verification tech, which ditches physical receipt checks for an AI-powered scan of shoppers' carts, has now been rolled out to more than 120 locations across the US. This story is available exclusively to Business Insider subscribers.

Persons: Sam's, — Organizations: Walmart, Amazon, Service, Business

☆ Walmart is shuttering all its 51 health centers and ending virtual care services as Amazon leans into the space
▼ + stars: | 2024-04-30 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Walmart will shut down the health clinics it has at 51 stores across five states. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWalmart says it will shut down the 51 health clinics it has at retail stores across five states, as well as its virtual care operation as the business has become "unsustainable." AdvertisementStaffed by physicians and licensed care providers, the clinics offered services ranging from primary care to behavioral health, as well as labs and X-rays. Virtual care was also available through walmarthealth.com.

Persons: —, Walgreens Organizations: Walmart, Service, Dallas Morning News, CNBC, Dallas Morning, Amazon Locations: Georgia, Arkansas , Florida , Illinois, Texas

☆ Target's CEO made 719 times the median employee's pay last year
▼ + stars: | 2024-04-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Target CEO Brian Cornell received total compensation of $19.2 million last year. The median compensation for associates was $26,696, according to Target's annual proxy statement. Cornell's pay is behind Walmart CEO Doug McMillon and ahead of former Costco CEO Craig Jelinek. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The pay package consisted of $1.4 million in base salary, $14.7 million in stock awards, and about $3.1 million in other compensation.

Persons: Brian Cornell, Doug McMillon, Craig Jelinek, —, Cornell, Doug McMillon's, Dominick Reuter Organizations: Walmart, Costco, Service, SEC, Business Locations: New York

☆ 3 things Costco shoppers should know before buying gold bars
▼ + stars: | 2024-04-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Costco sells an estimated $200 million worth of gold and silver bars per month. Gold expert Taylor Huff says with the popularity, some buyers might not know what to expect. Huff recommended three things Costco shoppers should keep in mind when buying gold. Each new batch of gold bars sells out "within a few hours" of being released for a small mark-up over its spot price. This story is available exclusively to Business Insider subscribers.

Persons: Taylor Huff, Huff, — Organizations: Costco, Service, Street Journal, Business

☆ Walmart heir Rob Walton is stepping down from the retailer's board after four decades
▼ + stars: | 2024-04-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Rob Walton, eldest son of Walmart founder Sam Walton, is stepping down from the company's board. He first joined Walmart in 1969 and has served on the board for more than 40 years. The company said Walton "helped shape some of the most important moments in Walmart history." AdvertisementRob Walton, eldest son of Walmart founder Sam Walton's three children, is stepping down from the company's board of directors in June. Even in retirement, Walton will have significant influence over Walmart through his co-ownership of Walton Enterprises, which is the largest holder of Walmart stock.

Persons: Rob Walton, Sam Walton, Walton, —, Sam Walton's, Sam, Greg Penner Organizations: Walmart, Service, Walton Enterprises, Bloomberg

☆ Walmart's CEO made almost 1,000 times the median employee last year
▼ + stars: | 2024-04-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Walmart CEO Doug McMillon received total compensation of $26.9 million in the last fiscal year. The median compensation for associates was $27,642, according to Walmart's annual proxy statement. Since 2009, McMillon has received a combined $136 million for his work as a Walmart executive. Walmart's Doug McMillon received total compensation last year of more than $26.9 million, up $1.6 million from the year before, according to the company's annual proxy statement filed Thursday with the SEC. The pay package consisted of $1.5 million in base salary, $19.6 million in stock awards, and $5.8 million in other compensation.

Persons: Doug McMillon, McMillon, —, Walmart's Doug McMillon Organizations: Walmart, Service, SEC, Business

☆ Walmart's CEO, who started on the company's loading docks, shares 3 tips for how to move up the corporate ladder
▼ + stars: | 2024-04-25 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. In an interview with the Stratechery Podcast, he offered three tips:Do your job well"Don't take your current job for granted," he said. Advertisement"It was pretty dramatic and I think the team did a fantastic job," McMillon said. Responses will be kept confidential, and Business Insider strongly recommends using a personal email and a non-work device when reaching out.

Persons: —, Doug McMillon, he's, McMillon, doesn't, You've, bartenders, Dominick Reuter Organizations: Service, Business, Walmart Locations: South Dakota

☆ Chipotle says California's minimum wage pushed menu prices up nearly 7%
▼ + stars: | 2024-04-24 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

The effects of California's $20 minimum wage for fast food workers are starting to show. This translated to a 7% menu price increase at Chipotle locations in California. AdvertisementCalifornia's $20 wage for fast food workers is just a few weeks old, and the effects on workers and customers are beginning to emerge. At Chipotle, the law drove a 20% increase in wages for its restaurant staff in the Golden State, the company said during its earnings call on Wednesday. To offset that cost, menu prices notched up about 6% to 7% for customers in California, CEO Brian Niccol said.

Persons: Chipotle, —, Brian Niccol Organizations: Service, Golden State, Business Locations: California, Chipotle, Golden

☆ Amazon just turned up the heat in the grocery wars with Walmart and Target
▼ + stars: | 2024-04-23 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Amazon Prime members can now get unlimited grocery deliveries for $9.99 per month. Shoppers can get free delivery on orders over $35 from Amazon Fresh, Whole Foods, and more. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSummer is approaching, and the competition for same-day grocery delivery is heating up. Amazon is now the latest major retailer to enter the fray with a new subscription option for Prime members to get unlimited delivery on orders over $35 from stores, including Whole Foods, Amazon Fresh, and other local shops.

Persons: — Organizations: Amazon, Foods, Walmart, Target, Service, Whole Foods, Business

☆ Costco shoppers are finding it's harder to sell gold than to buy it
▼ + stars: | 2024-04-23 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Read previewWhenever Costco releases a batch of gold bars for sale, the supply sells out "within a few hours" as shoppers snap up the precious metal for a small markup over its spot price. The out-of-stock notices give the allure of a hard-to-get item, but the wholesale club is still moving a lot of gold bars and silver coins — to the estimated tune of $200 million a month. This story is available exclusively to Business Insider subscribers. Unlike cash or even gift cards, Costco classifies gold bars as collectibles, which may or may not retain their value over time. AdvertisementFor that matter, the Internal Revenue Service also considers gold bars as a collectible too, and demands as much as a 28% cut of any profits on gold held for more than one year.

Persons: —, Lark Mason, Adam Xi, it's Organizations: Service, Costco, Business, Street Journal, Internal Revenue Service Locations: New York

☆ How much the typical worker makes at 19 retailers, from Amazon to Walmart
▼ + stars: | 2024-04-22 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Wages for retail workers have been going up in recent years . SEC rules require publicly traded companies to disclose their workers' median annual pay. Here's the median wage for workers at 19 retail companies, from lowest to highest. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Ever since Amazon set its minimum wage at $15 in 2018, more retailers have followed suit by offering starting wages that are more than double the national minimum of $7.25.

Persons: — Organizations: SEC, Service, Walmart, Target, —, Business Locations: Lowe's

☆ AI is helping Amazon send fewer small items in comically large boxes
▼ + stars: | 2024-04-21 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Amazon's packaging has been getting more efficient in recent years, thanks to AI. The e-commerce giant built an AI model that interprets pictures and text to choose the best shipping materials. The tool is key in helping the company cut out 2 million tons of plastic and cardboard since 2015. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Frequent Amazon shoppers have almost certainly received a shipment with a single small item in a comically large box.

Organizations: Service Locations: North America

☆ People keep stealing heavy equipment from Home Depot's rental department and selling it on Facebook
▼ + stars: | 2024-04-19 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Federal prosecutors in Oregon have brought charges against seven defendants conspiracy to defraud Home Depot. The complaint says the group rented equipment from the retailer using stolen credit card numbers. Instead of returning the items, prosecutors say the crew sold it on Facebook and other marketplaces. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHome Depot's rental department continues to battle the theft of its heavy equipment in schemes where suspects sell the machinery on sites like Facebook Marketplace, prosecutors allege.

Persons: — Organizations: Facebook, Service Locations: Oregon

☆ Walmarts in St. Louis and Cleveland are the latest to yank self-checkout
▼ + stars: | 2024-04-18 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Walmart Supercenters in St. Louis, Missouri, and Cleveland, Ohio, are removing self-checkout. Major retailers have taken other steps to address some of the problems raised by self-service tech. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA pair of Walmarts — one in Missouri and one in Oho — are ditching self-checkout lanes in an effort to improve the in-store experience.

Persons: — Organizations: Walmart, Service Locations: St, Louis , Missouri, Cleveland , Ohio, New Mexico, Missouri, Cleveland, Louis

☆ John Deere is hiring a CTO — that's Chief Tractor Officer — to help launch its TikTok channel
▼ + stars: | 2024-04-17 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

John Deere is looking for a different kind of CTO — a Chief Tractor Officer. The winner of the competition will help launch the agriculture equipment company's new TikTok channel. AdvertisementAgriculture equipment company John Deere is on the hunt for a different kid of CTO. The brand on Tuesday announced a two-week search to find a "Chief Tractor Officer" who would create social media content to reach younger consumers. This story is available exclusively to Business Insider subscribers.

Persons: John Deere, — Organizations: Service, Agriculture, Wrigley, Business Locations: Yellowstone

☆ Shoplifting's biggest enablers might be the retailers themselves
▼ + stars: | 2024-04-16 | by ( Alex Bitter | Dominick Reuter | ) www.businessinsider.com time to read: +7 min

But Walmart, Target, and other chains's own policies and practices could be worsening the problem. From conflicting policies to understaffing, retailers can make it hard for workers to prevent theft. That's because major retailers, including Walmart, Target, and others, have policies that sometimes prevent their own staff from addressing shoplifting at their stores, current and former employees told Business Insider. Among the report's recommendations for retailers: Hire enough employees at stores, and make sure they aren't constantly overworked. Do you work at Walmart, Target, or another major retailer and have a story idea to share?

Persons: —, Rhea Gordon, Gordon, Lululemon, Calvin McDonald, Santino Burrola, Thea Sebastian, Hanna Love, Sebastian, Love, everything's Organizations: Walmart, Target, Service, Business, BI, CNBC, company's, Futures Institute, Brookings Locations: North Carolina, Colorado, California, Montana

☆ McDonalds is bringing back bagels to boost California sales after state minimum wage hike
▼ + stars: | 2024-04-15 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The popular menu item, plus a $15 million ad buy, could boost sales by 10%, according to Bloomberg. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCalifornia's newly enacted fast food wage hike is already having an effect, though not one lawmakers likely had in mind when writing the law: bagels are back at McDonald's in the state. Related storyMcDonald's told Business Insider that the team's recommendations were based on best practices from other locations where restaurant operators have had to navigate local wage hikes. Scott Rodrick, who owns 18 McDonald's locations in the state, told Business Insider he's already raised menu prices between 5% and 7% since January, but there is a limit to the prices his customers will pay.

Persons: —, Scott Rodrick, he's, Kerri Harper, Howie Organizations: Bloomberg, Service, Golden State, KTLA News Locations: California, McDonald's

☆ 15 of the highest-paid entry-level retail jobs in the US, from ALDI to Patagonia
▼ + stars: | 2024-04-14 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Retail wages are on the rise as the employers struggle to find and retain workers. Entry-level employees now find jobs on the sales floor that pay more than $17 an hour. Business Insider asked Glassdoor to round up 15 of the highest-paying entry-level retail jobs in the US. Although the federal minimum wage is still $7.25 per hour (since 2009), fewer and fewer employers can get by without paying at least double that. This story is available exclusively to Business Insider subscribers.

Persons: Glassdoor, — Organizations: Business, Service

☆ Your anonymous reviews may not stay that way
▼ + stars: | 2024-04-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Reservations site OpenTable will reportedly add users' first names to formerly anonymous reviews. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Now restaurant reservations service OpenTable has reportedly decided that the benefits of anonymous posting don't outweigh the costs. Related stories"We've heard from you, our diners, that trust and transparency are important when looking at reviews," the email said, adding that the move is meant to strengthen the "credibility" of OpenTable reviews, according to the news outlet.

Persons: —, OpenTable, We've, Glassdoor, King Tuttle's, Emperor Nero's, Kim Jongummm Organizations: Service, Holdings, Wired

☆ How Chick-fil-A is so successful, selling nearly 5 times as much per restaurant as Taco Bell
▼ + stars: | 2024-04-11 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Chick-fil-A dominated its fast food peers with average restaurant sales of $9.3 million. By contrast, McDonald's and Taco Bell make $3.7 million and $1.9 million, respectively. AdvertisementWhen it comes to average restaurant sales, no fast food brand does better than Chick-fil-A. The chicken chain again dominated its industry peers, with average stand-alone restaurant sales of $9.3 million last year, according to company documents. That's more than twice as much as McDonalds' US locations ($3.7 million) and nearly five times what Taco Bell ($1.9 million) made last year, according to Technomic, a foodservice industry group.

Persons: —, Taco Organizations: Taco Bell, Service, McDonalds, Business

☆ General Electric's 132-year journey from American manufacturing icon to fallen giant
▼ + stars: | 2024-04-04 | by ( Dominick Reuter | Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

General Electric was an icon of American innovation and manufacturing for most of its history. The company reached its peak in 2000, but had a rocky journey entering the 21st century. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOver the course of the 20th century, General Electric grew into a powerhouse — literally — of American industry. This story is available exclusively to Business Insider subscribers.

Persons: —, Thomas Edison Organizations: GE, Service, Electric, Business

☆ 2 people were just arrested on suspicion of stealing a Stanley Starbucks cup from Target in January
▼ + stars: | 2024-03-29 | by ( Grace Dean | Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Two people were arrested this week on suspicion of stealing a Stanley cup from a Target in January. AdvertisementTwo people were arrested Tuesday and charged in connection with the theft in January of a Starbucks Stanley cup from a Target store in Cupertino, California. "The male suspect grabbed a box behind the counter that contained the limited-edition Stanley cup and attempted to leave the store." The woman also tried to take a Starbucks bag, believed to have contained another Stanley cup, from another customer, the sheriff's office said. Collectors are also hotly anticipating the impending launch of the "Spring Blue" quencher from Stanley and Starbucks, which will be sold at Target Starbucks locations.

Persons: Stanley, —, Quencher, Kevin Torres, Cruz, Hazel Dominguez, Vera Organizations: Starbucks, Sheriff's, Service, Target, Business Locations: Santa Clara, Cupertino , California, Starbucks cafés, Target, Stanley

☆ Kim Kardashian sued over promotion of 'knockoff' versions of an artist's iconic table and chairs
▼ + stars: | 2024-03-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Read previewThe foundation representing 20th Century artist Donald Judd is suing Kim Kardashian and her designers over a set of "knockoff" tables and chairs. "The tables and chairs shown in the Kardashian Video are not authentic Donald Judd pieces fabricated by Judd Foundation but were instead unauthorized knockoffs that were produced by Clements Design," the complaint said. "If you guys are furniture people — because I've really gotten into furniture lately — these Donald Judd tables are really amazing and totally blend in with the seats," she said. AdvertisementThe filing also includes alleged invoices from Clements Design showing line items for two tables and 24 chairs made of plywood "in the Style of Donald Judd." Donald Judd died in 1994, and his namesake foundation now manages his legacy and intellectual property.

Persons: —, Donald Judd, Kim Kardashian, Kardashian, Kardashian's, I've, Clements, Judd Organizations: Service, Central District of, Judd, Business, Judd Foundation, Clements Design, YouTube, Foundation Locations: Central District, Central District of California, Texas

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