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Big retailers’ fortunes are diverging as the holiday shopping season gets underway. On Wednesday, Target cited “lingering softness in discretionary categories” as a top factor in its disappointing third-quarter sales, as many budget-conscious shoppers continue to focus on necessities. It’s the latest sign that discounts will be the driving force this holiday season, as they’ve been for much of this year. “We’re starting to get back to normal here.”U.S. retail sales rose 0.4% overall in October, federal data showed last month, beating analysts’ forecasts. In the meantime, the steady expansion of e-commerce looks set to continue this holiday season.

Persons: ”, Brad Thomas, they’ve, TJ Maxx, John David Rainey, “ We’re, “ They’re, they’re, ” Thomas, Matthew Shay, TransUnion, Neil Saunders, Saunders, Helene, Milton, who’ve, ” Saunders Organizations: Target, Walmart, KeyBanc, Marshalls, CNBC, “, National Retail Federation, GlobalData, NBC

Target reported earnings Wednesday that came in far below Wall Street's expectations, something the big-box retailer attributed to slower-than-expected demand. The company announced profits that missed forecasts by 20%, its widest miss in two years. Broader stock trading did not immediately react, however, as Wall Street awaits earnings from chipmaker Nvidia, which has helped power the market higher throughout the year. Target's report comes a day after rival Walmart reported earnings and revenues that beat expectations. “We’re expecting this holiday period to be very consistent with that,” Walmart Chief Financial Officer John David Rainey told CNBC.

Persons: Brian Cornell, Michael Fiddelke, “ We’re, John David Rainey, “ They’re Organizations: Target, Nvidia, Walmart, CNBC

“We’re expecting this holiday period to be very consistent with that,” he said. Retailers, including Walmart, are contending with a mixed bag of factors this holiday season. The holiday season is also shorter this year and parts of the U.S. have had unseasonably warm weather, two dynamics that could hurt retailers. That would be lower than the 3.9% year-over-year jump from the 2022 to 2023 holiday season, when spending totaled $955.6 billion. Rainey said the holiday period is “off to a pretty good start.”He said items like TVs, Apple AirPods, Beats headphones and even tires have been selling.

Persons: John David Rainey, “ We’re, ”, “ They’re, Rainey, Walmart’s, Donald Trump’s, it’s, We’ve Organizations: Walmart, CNBC, LSEG, New York Stock Exchange, Sam’s, Walmart U.S, U.S, National Retail Federation, Apple Locations: U.S, China

Walmart’s CFO John David Rainey said the retailer would likely have to raise prices on some items if President-elect Donald Trump’s proposed tariffs take effect. “We never want to raise prices,” he said in an interview with CNBC on Tuesday. Beauty CEO Tarang Amin told CNBC in an interview earlier this month that the company could be forced to raise prices if the higher duties take effect. The majority of goods Walmart sells are not at risk of tariffs. The home improvement retailer addressed the potential levies as it reported earnings on Tuesday.

Persons: John David Rainey, Donald Trump’s, ”, “, ” Rainey, Wall, Matthew Shay, Tarang Amin, Steve Madden, Rainey, We’ve, Lowe’s, it’s, Brandon Sink, — CNBC’s Gabrielle Fonrouge Organizations: CNBC, National Retail Federation, Walmart Locations: China, U.S

☆ Walmart says prices will 'probably' go up if Trump tariffs take effect
▼ + stars: | 2024-11-19 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

AdvertisementWalmart's CFO said that Trump's proposed tariffs could lead the retailer to raise prices. During Trump's previous term, Walmart said it would try to avoid food price increases by managing costs elsewhere. Walmart CFO John David Rainey said on Tuesday that Trump's sweeping tariff plan could lead the retailer to raise prices on a portion of its products. Related Video"We never want to raise prices," he told CNBC. "Tariffs, though, are inflationary for customers, so we want to work with suppliers and with our own private-brand assortment to try to bring down prices."

Persons: John David Rainey, Trump, Rainey, Doug McMillon, McMillon Organizations: Walmart, CNBC, Walmart US, Target, Costco

☆ Kennedy Ryan on rereleasing ‘Reel’ and turning romance books into ‘Trojan horses’
▼ + stars: | 2024-11-18 | by ( Ayanna Miller | ) www.nbcnews.com time to read: +10 min

‘Reel’ is a love letter to the Harlem Renaissance — and Black creativesRyan remembers the exact moment she was inspired to write most of her books. “These Black women with these big afros, just unapologetically gorgeous, because that’s something that defies what culture tells us about ourselves. “I wanted women who are living with chronic illness, specifically lupus, to feel beautiful, to feel loved, to feel like they weren’t too much,” she says. She describes her books as “Trojan horses” to “smuggle in discourse” and start difficult conversations readers may not usually have. Just a few months after the rerelease of “Reel,” Ryan will publish the third and final book in her “Skyland” series, “Can’t Get Enough,” out May 2025.

Persons: Kennedy Ryan, ”, ” Ryan, TODAY.com, “, Ryan, Neevah Saint, Canon Holt, Dessi, Audie, Black creatives Ryan, Dorothy Dandridge, Halle Berry, Dandridge, Carmen Jones, Berry, Black, Kennedy, Black creatives, Billie Holiday, Ma Rainey, Bessie Smith, they’ve, ” Kennedy, Barnes & Noble, ” Kennedy Ryan, that’s, Neevah, there’s, ” What’s, Monk, Verity, I’ve, ’, I’m, she’s Organizations: Hollywood, Hachette, Harlem Renaissance, Harlem, Academy, Barnes &, “ Locations: Harlem, American, “

☆ ‘The Piano Lesson’ is about legacy — for the family at its center and the Washingtons bringing it to theaters
▼ + stars: | 2024-11-09 | by ( Ronda Racha Penrice | Atlanta-Based Writer Ronda Racha Penrice Is The Author Of | Black American History For Dummies. | ) www.nbcnews.com time to read: +7 min

But it is Washington’s kids — John David Washington, Malcolm Washington and executive producer Katia Washington — who have taken the baton for “The Piano Lesson,” one of Wilson’s two Pulitzer Prize-winning works. Skylar Smith as Maretha in “The Piano Lesson.” Brian Douglas / NetflixJohn David told NBC News he was pulled to “The Piano Lesson” because “I needed to find myself. And where I was at that time, ‘The Piano Lesson’ was the salve for that,” he said. Malcolm Washington, John David Washington, Danielle Deadwyler and Samuel L. Jackson with students after a screening of “The Piano Lesson” at Morehouse College in Atlanta. It’s just beautiful to do that.”“The Piano Lesson” is in theaters now and will begin streaming on Netflix Nov. 22.

Persons: Denzel Washington, John David Washington, Malcolm Washington, Katia Washington —, John David, “ Till, Danielle Deadwyler, Malcolm, John David’s, Willie, he’s, Berniece, Deadwyler, Skylar Smith, ” Brian Douglas, Netflix John David, “, ” Malcolm, ‘, ’, ”, Julie Dash’s, Barry Jenkins ’ Oscar, ” Deadwyler, ” Danielle Deadwyler, Boy Willie, Ray Fisher, Samuel L, Jackson, Doaker Charles, ” David Lee, Jackson’s Doaker, LaTanya Richardson Jackson, Doaker, Lloyd Richards, Isaiah Gunn, Young, Michael Potts, Wilson, Denzel, Viola Davis, Oscar, Washington, Davis, Chadwick Boseman’s, Charles Dutton, Alfre Woodard, Katia, Pauletta, Olivia Washington, Weeks, Spelman Organizations: Globe, Netflix, NBC News, Yale Repertory Theatre, Broadway, Morehouse College, Spelman College, Morehouse Locations: Pittsburgh, Mississippi, Denzel Washington, Washington, Pauletta Washington, Atlanta, John David’s alma, ”

☆ What Trump's win means for retail giants like Walmart, Target, and Costco
▼ + stars: | 2024-11-07 | by ( Dominick Reuter | Nora Redmond | ) www.businessinsider.com time to read: +7 min

Trump's second term likely means changes are on the way that will impact retailers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDonald Trump's return to the White House is likely to usher in sweeping changes that will impact retailers like Walmart, Target, and Costco — ranging from new tariffs to tax cuts and a new regulatory environment. Trump's campaign promises, along with his prior term record, offer some insights into what major retailers can expect from his second term. Advertisement"That's actually very unhelpful for a lot of retailers, especially in areas like technology, which a lot of retailers are involved," he said.

Persons: —, Donald Trump's, Donald Trump, Neil Saunders, it's, John David Rainey, Trump, Chris Walton, Walton, Jonathan Gold, Johns, Tinglong Dai, Saunders, He's, Lina Khan Organizations: Service, Walmart, Target, Costco, TractorTractor, Dick's Sporting Goods, Data, Omni, National Retail Federation, Trump, Pew Research, Federal, FTC, Kroger, Albertsons, Republican Locations: China, Johns Hopkins, Washington

☆ 13 of tips for preparing and cooking potatoes that chefs think everyone should know
▼ + stars: | 2024-10-18 | by ( Cheyenne Lentz | ) www.businessinsider.com time to read: +9 min

Business Insider asked professional chefs to share some of their best tips for preparing potatoes. Business Insider asked two professional chefs to share the most important tips for cooking potatoes. "Of course, if there is one potato that could be called an 'all-purpose potato' it is the yellow potato," Halliburton said. "Choose a spot that is cool and dark with good ventilation, but forgo the refrigerator," Halliburton told BI. AdvertisementPeeled potatoes can be placed in cold water until they're ready to be cutTo keep them from browning, keep peeled potatoes in water.

Persons: —, Brent Hofacker, Jerry, Rainey, Shutterstock, Titus, Byron Halliburton, Halliburton, greening, It's, spud, you'll, browning, Palak Patel, they're, Patel, Matthew Mead, fryer, Hrecheniuk Organizations: Service, Business, BI, Institute of Culinary Education, AP

☆ When Harlem Was ‘as Gay as It Was Black’
▼ + stars: | 2024-10-09 | by ( Derrick Bryson Taylor | Scott Reinhard | ) www.nytimes.com time to read: +30 min

Two Black men, in tuxedos, clasp hands and dance in a smoky foreground in a scene from "Looking for Langston," the 1989 film that reevaluated gay and lesbian contributions to the Harlem Renaissance. When Harlem Was ‘as Gay as It Was Black’ Mapping the people, homes and hot spots that transformed the neighborhood during its Renaissance. A map of Harlem with a location labeled “Ma Rainey at the Lincoln Theater” near 135th Street and Lenox Avenue. Michael Ochs Archives/Getty ImagesMap with location labeled “Bessie Smith at Hotel Olga” in the northernmost part of Harlem. was often called the living room of the Harlem Renaissance, and over the years provided a safe and affordable space for Black artists, writers and thinkers.

Persons: Langston, Henry Louis Gates Jr, Nicholas Park, Clare Corbould, ”, Ma Rainey’s, Ma Rainey, ” Ma Rainey, “, ” Donaldson, Gladys Bentley, Gladys Bentley West, Gladys Bentley West 133rd Street Gladys Bentley, Bentley, Michael Ochs, Bessie Smith, Hotel Olga ”, Bessie Smith Lenox, Lillian Simpson, Emma Chen, ” Smith, Porter Grainger, Everett Robbins, Ain’t, Jimmie Daniels ”, Jimmie Daniels, Daniels, Ethel Waters, Nicholas Avenue, Nicholas, Ethel Williams, Waters, ” Everett, Edna Thomas ”, Edna Thomas, Lloyd Thomas, Olivia Wyndham, Thomas, Wyndham, Georgette Harvey ”, Georgette Harvey, Maria, Porgy ”, Porgy, Bess, Musa Williams, Billy Rose, Hunter ”, Alberta Hunter, Lottie Tyler, Bert Williams, ’, ” Michael Ochs, Lindy Hop, Shane Vogel, Vogel, Jerome Robbins, James F, Wilson, Duke Ellington, Josephine Baker, Heather Nickels, Harry, Nickels, “ SAVOY, George Karger, Alain Locke, Countee Cullen, Richard Wright, Ralph Ellison, Langston Hughes, Olga ”, Olga Lenox, Edward H, Olga, Victor Hugo Green’s “, Bill “ BoJangles ” Robinson, Robert W Kelley, Alain Locke Washington, ” Alain Locke, Locke —, —, Nella Larsen ”, Nella Larsen, Street Nella Larsen, Larsen, Octavio González, Audre Lorde, Hughes, ” Arnold Rampersad, Countee Cullen ”, Harold Jackman, Cullen, Richard Bruce Nugent ”, Richard Bruce Nugent, Thurman, Jade ”, González, Nugent, ” Carl Van Vechten, Carl Van Vechten, Street Carl Van Vechten, Harold Jackman ”, ” Harold Jackman, Jackman, Maurice Hunter ”, Maurice Hunter, Corbould, Claude McKay ”, Claude McKay, West 142nd Street Claude McKay, Alexander Gumby, A’Leila Walker, A’Lelia Walker, Madame C.J, Walker, “ Wallace Thurman ”, Wallace Thurman, Zora Neale Hurston, Gwendolyn Bennett, Sydney ”, Sydney, Iolanthe Sydney, Du Bois, Thurgood Marshall, Robert “ Bobby ” Winchester, Horace Hicks, Isaac Julien, Mr, Julien Organizations: Harlem Renaissance, Harlem, The New, Black, Greenwich, Harvard, Central, Deakin University, Ma Rainey’s Georgia Jazz, Jazz, Lincoln, Lenox, Lincoln Theater, Street, Gladys Bentley West 133rd Street, New York Times, Michael Ochs Archives, Hotel Olga, Blues, Hotel, Lesbian, Blues Women, Communities, West, of Congress, Music Division, Federal, St, Library of Congress, Guild Theatre, Billy Rose Theatre Division, The New York Public, 138th Street, Alberta Hunter, West 138th, ” Michael Ochs Archives, Getty, Savoy, African American Studies, Yale University, Cabaret, 155th Street, Jerome Robbins Dance Division, 131st, CUNY, Hulton, West 133rd, 133rd, Avenues, Cotton, 142nd, Cotton Club 142nd Street, U.S, Swing, 141st, Ballroom, Blacks, 125th, 135th, Harlem Y.M.C.A, Harlem Branch, Columbia University, Lafayette Theater, Lafayette Players, Washington D.C, Wellesley College, 127th, Mount Morris Park, East 127th, 136th, The New York Public Library, Bettmann, Everett, 134th Street, Eighth, West 142nd, West 142nd Street, Cabaret School, Yale, American, Library, 136th Street, “ Infants, Columbia, Harlem’s Locations: tuxedos, Manhattan, Harlem, Central, Rockland, New York, St, Australia, Ma Rainey’s Georgia, Philadelphia, Colonial, British, Alberta, ”, —, Hamilton Lodge, Lenox, Seventh, Morris, Lafayette, Washington, Eighth, Mount Morris, Lenox Avenue, United States, Midtown, Black, Sugar

☆ Here are the pros and cons of renting versus owning a home in those retirement years
▼ + stars: | 2024-10-04 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

However, many are renting in their retirement years. Most older adults, those at least 65 years old, own their homes, according to the Joint Center for Housing Studies at Harvard University. Renting in retirement years can be a positive because older people can avoid costly maintenance associated with the upkeep of a home. "Renting often offers more amenities, less maintenance, more accessibility," said Jennifer Molinsky, director of the housing an aging society program at the Joint Center for Housing Studies. And unlike younger renters, adult renters in retirement years could be especially vulnerable to rent hikes because they are on fixed income, experts say.

Persons: Jennifer Molinsky, Roth, Lazetta Rainey Braxton, Braxton Organizations: Joint Center for Housing Studies, Harvard University, Finance, CNBC Locations: U.S

☆ The Unexpected Journey
▼ + stars: | 2024-09-25 | by ( Bertha Coombs | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Unexpected JourneyMany things in life do not go according to plan. Are you figuring out your financial goals post-divorce? Did you receive an inheritance and are now looking to diversify your investments? Certified Financial Planner and The Real Wealth Cotorie CEO & President Lazetta Rainey Braxton answers your burning money questions.

Persons: Lazetta Rainey Braxton Organizations: Wealth Cotorie

☆ Private-label grocery brands boomed during inflation. Prices are down, but store-brand items keep going higher
▼ + stars: | 2024-09-16 | by ( Bob Woods | ) www.cnbc.com time to read: +10 min

Private brands — also called store brands and private-label brands — of foods and beverages have shared shelf space with national brands for years. Customer shopping habits are changing for goodIn the past, the value proposition of private brands was driven primarily by lower prices. But consumer attitudes are evolving, according to a recent survey by the Food Industry Association, which represents both food retailers and producers. And 46% said they expect to buy private brands somewhat or much more, compared to 27% saying that for national brands. "In the U.S., the market for private brands as an industry to eclipse national brands is not something we'll see," Baker said.

Persons: Peggy Davies, they've, Kraft Heinz, —, Rick Gomez, Sally Lyons Wyatt, John David Rainey, Scott Morris, Kroger, King Scoopers, Albertsons, Smart, Lyons Wyatt, They've, Doug Baker, Baker, Gen Zers, Xers, Steve Zurek, there's, Zurek, Morris, Gen, Joe's Organizations: Retailers, Private Label Manufacturers Association, Procter & Gamble, Walmart, Kroger, Albertsons, Target, Wall Street, Walmart U.S, Brands, Metro Market, Food Industry Association, Aldi Locations: Kellogg's, U.S, California , Florida, Western Europe

☆ The 'soft landing' hypothesis is alive and well: What retail sales and Walmart earnings tell us
▼ + stars: | 2024-08-15 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

Inflation relief was palpable this week, with both the producer price index and consumer price index reinforcing that inflation is trending down. .SPX 1M mountain S & P 500 Index over the past month. S & P 500 earnings growth of 10% is expected in 2024, and 15% growth is seen for 2025. True, revenue growth hasn't been as strong, and much of the reason earnings are holding up is cost cutting. Growth is slowing, but no recession is apparent Interest rate cuts coming and earnings are still holding up.

Persons: It's, John David Rainey Organizations: Walmart, American Association of, Bulls, Atlanta Fed, CNBC

☆ Target workers say they're walking as much as 20 miles a day. It's a sign of just how physical retail work has become.
▼ + stars: | 2024-08-09 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

This story is available exclusively to Business Insider subscribers. AdvertisementOver on Reddit, Target workers have posted some big numbers, often topping the 10 miles that caught the attention of Walmart's CFO. one user said on a subreddit for Target workers in July. Healthcare workers topped the list: It said some hospital staffers could reach 60,000 steps, or 30 miles, during a 12-hour shift. A Target spokesperson told Business Insider that while the company did estimate time and distance as part of assigning work, it did not individually track employees' movements throughout the day.

Persons: —, John David Rainey, they've Organizations: Service, Business, Apple, US Postal Service, CNBC, Target, Walmart Locations: Reddit, Tennessee

☆ PepsiCo just admitted that snackflation might have gone too far
▼ + stars: | 2024-07-11 | by ( Alex Bitter | Dominick Reuter | ) www.businessinsider.com time to read: +4 min

As food inflation rose over the last few years, companies like PepsiCo have been able to push through price increases to retailers and consumers — and then some. Food inflation has increased at a steady pace over the last few months. While PepsiCo is one of the largest food manufacturers in the world, it's far from alone in hiking prices. McMullen told investors last month he expects more discounts coming from national brands this year. Of course, national brands have been bragging about strong profits in recent years, which would suggest they're now in a position to offer discounts and promotions without breaking the bank.

Persons: —, Cheetos, Jefferies, Ramon Laguarta, Laguarta, Crisman White, Rodney McMullen, McMullen, John David Rainey, Christina Hennington, they're Organizations: Service, Frito, PepsiCo, Business, Quaker Foods, Pepsi, Kroger, Walmart Locations: Quaker Foods North America

☆ People aren't spending like they used to and it's forcing companies like Nike and Walgreens to make drastic changes
▼ + stars: | 2024-06-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. People are still spending money, but there's an uncomfortable awareness that years of price hikes mean each dollar doesn't go as far as it used to. "This consumer remains very cautious, specifically when you think about larger ticket discretionary purchases," he told Oppenheimer analysts Wednesday. "Why have people who are having a hard time paying their rent have to pay more for our drink?"

Persons: —, they're, Joseph Lewis, Marvin Ellison, Oppenheimer, John David Rainey, Federal Reserve Banks, San Francisco Fed, Don Vultaggio Organizations: Service, Business, Bloomberg, Nike, Walgreens, Walmart, Federal Reserve, San Francisco, Philadelphia Fed, Iced Tea Locations: San Francisco, Philadelphia

☆ Walmart says automating its warehouses will actually give workers longer careers
▼ + stars: | 2024-06-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Warehouse work is physically taxing, with employees moving thousands of pounds per day. As Walmart automates distribution centers, new robots and forklifts are lightening the load. CFO John David Rainey says Walmart's labor-saving automation may add a decade to workers' careers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarehouse work is one of the most physically taxing jobs in the digital age.

Persons: John David Rainey, — Organizations: Walmart, Service, Bank of America's London Investor Conference, Business

☆ Ford steals market share, plus bank stress tests and Pool Corp's ripple effect
▼ + stars: | 2024-06-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

After three sessions of heavy rotation out of tech and AI winners and into other areas of the market, the market has shifted back to tech and momentum leaders. So when cracks are forming in other areas of the market, investors quickly return to where the growth is the strongest: tech. Stress tests: With the annual bank stress test results due out Wednesday after the bell, Jefferies took a look at how bank stocks have fared since 2021 immediately following the release. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. The new Ford F-150 truck goes through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan.

Persons: Jim Cramer, John Rainey, Cramer, Ford, Jefferies, Wells Fargo, General Mills, — Morgan Chittum, Jim Cramer's, Jim, Bill Pugliano Organizations: CNBC, Corp, Supply, Pool Corp, Walmart, Union Pacific, Micron, Nvidia, Federal Reserve, Jefferies, FedEx, United States Postal Service, Jim Cramer's Charitable, Ford, Ford Dearborn Plant, Getty Locations: London, Dearborn , Michigan

☆ Walmart sees a bonkers improvement when it automates a warehouse
▼ + stars: | 2024-06-13 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Walmart's 4,600 US stores are supported by a network of 42 regional distribution centers. Of those 42, there's "some level of automation" at 15 of them, CFO John David Rainey said. When a DC is automated, Rainey said it sees as much as a 4X leap in efficiency. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Of those 42 DCs, Walmart CFO John David Rainey said the company has 15 that now have "some level of automation," serving about 1,700 stores.

Persons: John David Rainey, Rainey, — Organizations: Service, Walmart, Business

☆ A top US Army general says it's not the right time to build a new drone branch
▼ + stars: | 2024-06-10 | by ( Ella Sherman | ) www.businessinsider.com time to read: +3 min

Read previewUS Army Gen. James Rainey, who serves as the commanding general of Army Futures Command, said it's too soon for the service to establish a new drone branch, reiterating a point made by other Army leaders. These systems have been used for strikes, reconnaissance, targeting, and more on a scale previously unseen, and Ukraine established a drone branch earlier this year. That said, top Army officials don't feel a drone branch is needed right now. AdvertisementArmy Undersecretary Gabe Camarillo previously pushed back on the proposal to establish a drone corps. "I don't think it would be helpful to have a separate drone branch," he said.

Persons: —, James Rainey, it's, Rainey, Thomas Karako, Rob Wittman, Virginia, Gabe Camarillo, we're, Randy George Organizations: Service, Army Futures Command, Center for Strategic, International Studies, Business, Army, Aerial, House Armed Services Committee, CSIS Locations: Ukraine, Europe

☆ Target shares slide as consumers buy fewer groceries and home goods
▼ + stars: | 2024-05-22 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Target on Wednesday posted a year-over-year sales decline and missed Wall Street's earnings estimates, as consumers fatigued from high prices bought both fewer discretionary items and groceries. On a call with reporters, CEO Brian Cornell said the company's results reflect "continued soft trends in discretionary categories." Target also announced Monday it was cutting prices on thousands of everyday items, including milk, bread, paper towels and diapers. Like other retailers, Target has tried to win over consumers who are not spending as freely on clothing, home goods or other discretionary items. Walmart, for example, has gained market share from higher-income shoppers and recently introduced a premium food brand with most items under $5.

Persons: Brian Cornell, John David Rainey Organizations: Target, LSEG, Walmart, Aldi Locations: Miami , Florida, Minneapolis

"Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending," McDonald's CEO Chris Kempczinski said on the company's conference call in late April. Paul Weaver | SOPA Images | Getty ImagesFor more than two years, consumers have dealt with sharply rising prices. But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch. While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending. Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending.

Persons: Chris Kempczinski, Burger, Paul Weaver, Jerome Powell, Aurelia Concepcion, Concepcion, it's, Joe Raedle, Brett House, John David Rainey, Ramon Laguarta, Ed Bastian, We're, Daniel Slim, Brian Niccol, Calvin McDonald, Laxman Narasimhan, Sara Senatore, Spencer Platt Organizations: DAL, Washington Post, Home, Delta Air Lines, Consumers, of Labor, CPI, KFC, Starbucks, Columbia Business School, Walmart, Finance, CNBC, PepsiCo, Gatorade, Pepsi, United, Delta Airlines Boeing, Owen Roberts International, AFP, Getty, Delta, Target, Bank of America Locations: Manhattan, Bloomsburg , Pennsylvania, New York, Georgia, Ohio, Miami , Florida, U.S, Delta, Europe, Asia, Japan, George Town, Cayman Islands, New York City

☆ Target lowering prices on 5,000 frequently bought items
▼ + stars: | 2024-05-20 | by ( Rob Wile | ) www.cnbc.com time to read: +2 min

Target said Monday it will lower prices on approximately 5,000 frequently bought items as it seeks to stay competitive amid signs consumers are experiencing price fatigue. It had already cut prices on some 1,500 other items. "Our teams work hard to deliver great value every day, and these new lower prices across thousands of items will add up to additional big savings for the millions of consumers that shop Target each week for their everyday needs." As the rate of annual inflation remains stuck above 3% and the Fed's key interest rate remains unchanged, many consumers are starting to pull back on spending and becoming more selective about what they purchase. One of Target's chief competitors, Walmart , recently signaled that even higher-income consumers were turning toward its offerings as "wallets are still stretched."

Persons: Rick Gomez, Chris Kempczinski, We've, Jack Rainey Organizations: Walmart, CNBC

☆ CNBC Daily Open: Dow briefly tops 40,000 for the first time, meme stocks down but not out
▼ + stars: | 2024-05-17 | by ( Abid Ali | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow breaks through 40,000 barrierThe Dow Jones Industrial Average briefly passed the 40,000 mark for the first time before ending lower. The S&P 500 and Nasdaq also hit record highs but ended the session in negative territory. The Dow has climbed nearly 6% in 2024, while the Nasdaq and S&P 500 are up 11% each. [PRO] New S&P 500 targetsWall Street's recent record highs have prompted market analysts to revise their S&P 500 year-end price targets.

Persons: Dow, John David Rainey, We've, Armour, Armour's, Kleiner Perkins, Bob Pisani Organizations: CNBC, Dow Jones Industrial, Nasdaq, Walmart, GameStop, AMC Locations: North America, Sequoia

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