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☆ 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

☆ I'm pulling out my old hedge fund playbook to see which stocks are working — and which ones are not
▼ + stars: | 2024-06-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

I found this levered concept incredibly valuable when I ran other peoples' money at my hedge fund years ago. My first question to them, usually interjected, rudely, if I were bored or confused was: "What the heck is this business levered to?" Palo Alto Networks To understand this kind of leverage that I am talking about — as opposed to the kind that involves debt —let's start with something easy, let's start with the stock of Palo Alto Networks . We own Palo Alto because its fortunes are levered to something that has the most explosive growth of an industry I know: cybercrime. If we didn't own Palo Alto we would own CrowdStrike.

Persons: —, Nikesh Arora, Estee Lauder, Wynn, Fabrizio Freda, Jim Cramer's, Jim Cramer, Jim, Virginia Sherwood Organizations: Palo Alto, Palo Alto Networks, Wynn, GE Healthcare, Danaher, Wynn Resorts, Costco TJX Companies, Costco, Jim Cramer's Charitable, CNBC, NYSE Locations: Palo, China, Las Vegas, Macao, Maxx

☆ Drug store chains pushed out independent pharmacies. Here’s why they’re now closing too
▼ + stars: | 2024-06-28 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

The latest closures are part of a larger downturn, not just for Walgreens, but for other drug store chains, too, after years of expansion. Shifting trendsDrug store chains are struggling because of falling reimbursement rates for prescription drugs, according to analysts who cover the industry. But their profits from that business have dropped in recent years because of lower reimbursement rates for prescription drugs and higher fees. Dollar General’s growth has also hurt drug store chains in rural areas. When pharmacies close, some patients have to travel farther to get the medications they need.

Persons: Walgreens, Tim Wentworth, “, ” Wentworth, Elizabeth Anderson, PBMs, ” Anderson, VIllageMD Organizations: New, New York CNN, Walgreens, Wall Street, CVS, IRI, Amazon, Walmart, Costco, American Medical Association Locations: New York, United States, VillageMD

Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Best Buy : Jim said Best Buy's pullback in recent days has created a buying opportunity in the electronics retailer. Salesforce : The stock has in recent weeks clawed back some of its post-earnings plunge , even before Thursday's 6% surge. Wynn Resorts : Wynn is another stock in the portfolio that, it's become increasingly clear, trades based on its exposure to China. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, Wall, Abbott, Johnson, We're, haven't, it's, Walt Disney, Estee Lauder, levered, Eli Lilly, Lilly, Morgan Stanley, Goldman Sachs, OpenAI, Jensen Huang, Nikesh Arora's, Stanley Black, Decker, TJX, We've, Wells, Charlie Scharf poaches, Wynn, Jim Cramer, Michael M Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Prime, Web, Broadcom, VMWare, Costco Wholesale, Costco, Coterra Energy, DuPont, Walt, Disney, Nvidia, Ford Motor, Ford, Blue, Motors, GE Healthcare, GE, Management, Honeywell, Linde, Microsoft, Palo Alto Networks, Procter & Gamble, Constellation Brands, Modelo, Corona, Fed, TJX, JPMorgan, Wynn Resorts, Wynn, Jim Cramer's Charitable, Traders, New York Stock Exchange, Santiago, Getty Locations: China, Covid, Dover, Eaton, Palo Alto, U.S, Wells Fargo, Las Vegas

As Sam's Club opens more locations, it is trying to raise the bar for its own brand, Member's Mark. Net sales for Sam's Club totaled $86.2 billion in its most recent fiscal year, compared with $176.63 billion for Costco's U.S. clubs. Sam's Club CEO Chris Nicholas told CNBC the brand's revamp was inspired, in part, by the retailer's chief rival. Overtaking Costco and its beloved private label won't be easy for Sam's Club, said Michael Baker, a retail analyst for D.A. But he added Costco's success with Kirkland Signature created a formula that Sam's Club can follow.

Persons: Megan Crozier, Crozier, —, kickstart, Mark, Chris Nicholas, Kirkland, Member's Mark, Michael Baker, Davidson Organizations: Sam's Club, Walmart, Costco, Kirkland, Sam's, Costco's U.S, CNBC, D.A

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Sam's Club plans to take on Costco's Kirkland SignaturePrivate labels have gained mainstream popularity as price conscious Americans notice the much improved store brands. It is today a $220 billion industry. Costco which built its private label, Kirkland Signature, over the course of two decades is one of the biggest. And club competitor Sam's Club has taken notice by putting a strong emphasis on its private label, Member's Mark.

Persons: Costco's, Kirkland, Mark Organizations: Costco's Kirkland, Costco, Sam's

☆ I spent thousands renovating a 2,000-square-foot home — but these 5 cheap upgrades actually made the biggest difference
▼ + stars: | 2024-06-26 | by ( Katie Cline | ) www.businessinsider.com time to read: +5 min

We spent thousands and flexed our HGTV muscles in every corner of that house, but looking back, I'd say these five cheap upgrades made the biggest difference. Jessica Ulysses GrantPeel-and-stick wallpapers couldn't be easier to install, and the busy patterns are extremely forgiving of uneven walls. Jessica Ulysses GrantThe diverse range of patterns available ensures there is something to suit every taste, every room, and every home. A fresh coat of white paint is an instant facelift for an old houseA coat of paint can make a world of difference in a home. Jessica Ulysses GrantI worked in the hotel industry for many years, so I know how important a good bed is.

Persons: —, we'd, Lake George —, Jessica Ulysses Grant Peel, Jessica Ulysses Grant, Twig, Herringbone, HomeAdvisor, Behr, Jessica Ulysses Grant I'm, Costco's Organizations: Service, Business, Plaid, Sealy Locations: George, Lake, Airbnb, Gliderite, Italian, Kohl's

☆ Jim Cramer names winning stocks for a more frugal consumer
▼ + stars: | 2024-06-26 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Wednesday said most consumers are not necessarily hurting for cash, but are sick of high prices and on the hunt for bargains. "Let's suspend the notion that the consumer's totally strapped for cash, that's wrong," he said. To Cramer, consumers are flocking to bargain outfits like Walmart and Costco , and he pointed out that the latter's low-cost signature brands are especially appealing. He named TJX , Ollie's , Ross Stores and Burlington Stores , all up year-to-date at 17.83%, 29.54%, 7.48% and 23.05% respectively. "We know apparel inflation has been sticky in the consumer price index, but these four off-price chains are cutting the price of apparel aggressively," he said.

Persons: CNBC's Jim Cramer, Let's, Cramer, TJX Organizations: Walmart, Costco, CVS, Walgreens, Ross Stores, Burlington Stores Locations: Ollie's

☆ Sam's Club is winning over Gen Z shoppers with convenience, and that could spell trouble for Costco
▼ + stars: | 2024-06-24 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Sam's Club has grown its Gen Z membership by 68% in the past two years, CEO Chris Nicholas said. While the main attraction is low prices, the real difference for the club is its tech, he said. That could spell trouble for Costco, which lags far behind when it comes to digital innovation. AdvertisementLong a mainstay for boomers and Gen X shoppers, warehouse clubs increasingly have a new set of fans: Gen Z. "That generation believes it's cool to save money and we agree with them," Sam's Club CEO Chris Nicholas told CNBC last week.

Persons: Chris Nicholas, —, Gen, Nicholas Organizations: Sam's, Costco, Service, CNBC, Walmart, Business

AdvertisementAyomikun Adekaiyero: The series does a great job of showing how this toxic masculinity among the men — particularly Aegon, Daemon, and Criston — escalates this conflict. I think he's a character that — don't get me wrong, I love Daemon — got a little bit muddied in season one. Ayomikun: Also, though I do believe both Aegon and Daemon want war for the wrong reasons, they're kind of right? Ayomikun: Criston and Aegon are really like that "It's always two dumb people telling each other exactlyyyyy" meme. Ayomikun: The fight was a truly brilliant scene, especially since we as the audience can't really tell which twin is which.

Persons: —, Daemon Targaryen, Aemond, Lucerys Velaryon, Jaehaerys, Helaena, she's, Eammon Jacobs, Palmer Haasch, Ayomikun Adekaiyero, Caralynn Matassa, Theo Whitman, Palmer, Alicent, Otto, Phia, Criston, Tom Glynn, Carney, Rhaenyra, Tom, I've, Lucerys, Olivia, Rhaenys, Hugh Hammer, Ollie Upton, we've, Westeros, Hugh, Clinton Liberty, Abubakar Salim, Addam, Alyn, Corlys, it's, Poor, Ewan, It's, Daemon, She's, HBO Palmer, Jace, Baela, Ser Harwin, Bethany Antonia, Harry Collett, Hightower, Rhaenyra Rhaenyra's, Theo Whiteman, they're, Daemon —, Matt, Emma, Viserys, imbeciles, Arryk, Hand, Daeron, Erryk Organizations: Service, Aegon II, Business, Greens, Aegon, HBO, Costco Locations: Driftmark, Westeros, Westerostco, Hull, Aemond, King's, Alicent, Oldtown, Rhaenyra

☆ Costco CEO says this is the most important item the store sells—it's not the $1.50 hot dog
▼ + stars: | 2024-06-24 | by ( Nicolas Vega | ) www.cnbc.com time to read: 1 min

From gasoline to hot dogs to gold bars, there's no shortage of things you can buy at Costco. But the wholesale chain's CEO says the items you pull off the warehouse's extra-large shelves are of secondary importance to what you carry in your wallet. "The most important item we sell is the membership card," Ron Vachris told Fortune in an interview last month. Costco's has a 130 million-strong membership base, each of whom pays between $60 and $120 per year for access to the chain's stores.

Persons: Ron Vachris, Fortune, Costco's Organizations: Costco

☆ Jim Cramer's word of caution on Target-Shopify deal — plus, his thoughts on 4 more stocks
▼ + stars: | 2024-06-24 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. IBM : Shares rose 3% after Goldman Sachs initiated coverage of the stock with a buy rating. "We were surprised last quarter ... how much they're helping companies adjust to the new world" around artificial intelligence, Jim Cramer said. Target : Shares rose 2.5% after the retailer said companies that use Shopify's commerce platform can apply to join its third-party marketplace known as Target Plus. Affirm Holdings : Goldman Sachs assumed coverage of the buy now, pay later company with a buy rating.

Persons: Jim Cramer's, Goldman Sachs, Jim Cramer, Cramer, chipmaker Organizations: CNBC, Club, IBM, Carrier Global, Citigroup, Target, Costco, TJX Companies, Micron, Baird, Nvidia, Apple

☆ I'm a former TV chef who spends about $150 a week at Costco. Here are 11 things I always get.
▼ + stars: | 2024-06-22 | by ( Leslie Antonoff | ) www.businessinsider.com time to read: +1 min

I'm a former TV chef who spends $150 on tasty ingredients and cooking shortcuts at Costco each week. 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 . AdvertisementBefore the first season of my aspireTV series, "Butter + Brown," I trained with a chef whose husband was a corporate executive at Costco. This chef gave me the inside scoop on the best items from the store, and since then, I've joined the nearly 35 million customers who have an executive Costco membership.

Persons: I'm, —, Kirkland, I've Organizations: Costco, Kirkland, Service, Business

☆ Companies that give money to Democrats are beating Republican donors in the stock market
▼ + stars: | 2024-06-22 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Driving the outperformance in the DEMZ fund is its concentration in mega-cap technology stocks. The top five stocks owned by the DEMZ fund are Nvidia, Apple, Microsoft, Loews, and Costco. About 36% of the DEMZ fund is invested in technology stocks, compared to just 3% for the MAGA fund. The top five stocks owned by the MAGA fund are Vistra, Howmet Aerospace, Charter Communications, Amgen, and Garmin. Another area where the DEMZ ETF is beating the MAGA ETF is in assets under management, with about $36 million invested in the former and about $21 million invested in the latter.

Persons: MAGA, DEMZ, —, outperformance Organizations: Democratic, Republican, Service, Democrat, Core, GOP, Nvidia, Apple, Microsoft, Loews, Costco, Howmet Aerospace, Charter Communications, Garmin, MAGA

☆ What's it like to work at Costco? A front-end manager shares what the job entails
▼ + stars: | 2024-06-22 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Costco warehouses require a lot of different jobs to run smoothly each day. Few workers have more customer-facing responsibilities than front-end managers. Business Insider spoke with a longtime front-end manager about what the day-to-day is like. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Business Insider spoke with an assistant front-end manager in Texas who has been with the company for more than 20 years to learn what the day-to-day is like.

Persons: — Organizations: Business, Service, Costco Locations: Texas

☆ Here's why Costco has the best customer loyalty
▼ + stars: | 2024-06-21 | 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 EmailHere's why Costco has the best customer loyaltyMichael Lasser, UBS analyst, joins Money Movers to discuss which retail company has the best customer loyalty, which companies need to improve, and much more.

Persons: Michael Lasser Organizations: Costco, UBS, Movers

☆ Here's our first-quarter earnings report card for 32 stocks in the portfolio
▼ + stars: | 2024-06-21 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

Most of the earnings reports — 25 out of 32 portfolio names — were ranked as good or great by the Investing Club. Similar to prior quarters, we grouped company results into one of four categories. Meta Platforms : Sales, earnings and cash flow results all topped expectations . However, sales and earnings both outpaced expectations, as did return on tangible common equity, a key consideration when valuing banks. The company also raised its outlook for full-year earnings growth to 25% year-over-year from 20%.

Persons: we're, Dover, Eli Lilly, Blackwell, Abbott, —, Wall, We'll, Morgan Stanley, Nikesh, Stanley Black, Wells, Estee Lauder, Fabrizio Freda, Jim Cramer's, Jim Cramer, Jim, Hock Tan, Broadcom Lucas Jackson Organizations: Investing, Apple, Services, Broadcom, VMware, Coterra, DuPont, Microsoft, Nvidia, Wynn Resorts, Super, Abbott Labs, Web Services, Constellation Brands, Constellation, Ford, Ford Pro, Wall Street, Alto Networks, Procter & Gamble, TJX, GE Healthcare, Honeywell, Linde, Jim Cramer's Charitable, CNBC Locations: Dover, China, Eaton, Las Vegas, China's Macao, billings, Wells Fargo, —

☆ After almost 30 years, Amazon's original book business is booming, leaked document shows
▼ + stars: | 2024-06-20 | by ( Eugene Kim | ) www.businessinsider.com time to read: +9 min

This is according to a detailed internal document obtained by Business Insider that reveals a host of new information and insights about Amazon's book business and the broader publishing landscape. Reliable data on this industry is limited or tightly controlled, so it's sometimes difficult to get handle on the scope of the book business. "Monopoly power"Amazon's book business has drawn antitrust scrutiny over the years. The company doesn't publicly disclose book sales, nor does it give a revenue breakdown of each retail category. The US accounts for over half of the salesThe document reveals a few staggering numbers that show how big Amazon's book business is.

Persons: —, John Warren, George Washington University's, doesn't, Lindsay Hamilton, Noble, Warren, Hamilton Organizations: Service, Business, Amazon, Federal, American Booksellers Association, FTC, Justice Department, BI, GMS, Barnes, Costco, Pew Research Center, George Washington University Locations: Germany, Japan, France, Italy, Spain, Australia

☆ A Costco manager who has been with the company for over 20 years shares his No. 1 tip for getting promoted
▼ + stars: | 2024-06-20 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

A manager who has been with the company over 20 years shared his best tip for getting promoted. "Move to some of the areas where they're growing," he told Business Insider. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Business Insider spoke with a manager who joined the company more than 20 years ago slinging hot dogs in the warehouse food court to make money for college. This story is available exclusively to Business Insider subscribers.

Persons: —, Ron Vachris Organizations: Costco, Service, Business

☆ Vitamix recalls almost 570,000 blender parts
▼ + stars: | 2024-06-20 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

After dozens of reports of lacerations from exposed blades, Vitamix announced a recall of about 569,000 blending containers and blade bases for its high-powered blenders. All affected customers should immediately stop using the recalled parts, the company said, and contact Vitamix for a repair kit. Vitamix instructed customers who repaired their blenders in the 2018 recall to stop using those blender parts as well. The recall affects all Ascent and Venturist Series 8-ounce blending containers, 20-ounce blending containers, and blade bases. Ascent blenders can retail for up to $749.95 and the Venturist V1200 can retail for up to $549.95 on the Vitamix website.

Persons: Vitamix, Williams Organizations: New, New York CNN, CNN, Consumer Product Safety, Costco, Walmart, QVC Locations: New York, Target, Williams Sonoma

☆ May retail sales rise 0.1%, weaker than expected
▼ + stars: | 2024-06-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

A worker assists with check-out at a Costco store in Teterboro, New Jersey, US, on Wednesday, Feb. 28, 2024. Retail spending was weaker than expected in May as consumers continued to wrestle with stubbornly higher levels of inflation. Sales rose just 0.1% on the month, one-tenth of a percentage point below the Dow Jones estimate, according to a Commerce Department report Tuesday that is adjusted for seasonality but not inflation. On a year-over-year basis, sales rose 2.3%. The sales number was worse when excluding autos, with a decline of 0.1% against the estimate for a 0.2% increase.

Persons: Dow Jones, Patrick Harker Organizations: Costco, Commerce Department, Federal Reserve, Fed, Philadelphia Fed Locations: Teterboro , New Jersey, US

☆ Sam's Club CEO on how Gen Z and Millennials are driving the company's growth
▼ + stars: | 2024-06-18 | 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 EmailSam's Club CEO on how Gen Z and Millennials are driving the company's growthChris Nicholas, Sam's Club CEO, joins 'Money Movers' to discuss what the chief executive is seeing from the consumer, how Sam's Club differentiates from the Costco's of the world, and much more.

Persons: Chris Nicholas Organizations: Sam's

☆ I ranked ground-beef patties from Costco, Whole Foods, and Wegmans. I'll be making the winning burgers all summer.
▼ + stars: | 2024-06-16 | by ( Ted Berg | ) www.businessinsider.com time to read: +1 min

I compared premade frozen beef patties from Wegmans, Costco, and Whole Foods to find the best one. I loved the burger patties from Whole Foods because they were full of great flavor. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen it comes to summer cooking, I always like to have frozen burger patties on hand. This story is available exclusively to Business Insider subscribers.

Persons: —, They're Organizations: Costco, Foods, Service, Business Locations: Wegmans

☆ This ETF strategy may help investors skirt market concentration risk
▼ + stars: | 2024-06-15 | by ( Anna Gleason | ) www.cnbc.com time to read: +2 min

Investors worried about concentration risk in the market may want to consider value-oriented investments. Avantis' U.S. Large Cap Value ETF (AVLV) tracks the Russell 1000 Value index, but with a caveat — the fund managers screen stocks using a profitability overlay. After Apple and Meta , the Large Cap Value fund's next-largest holdings are JPMorgan , Costco and Exxon Mobil , according to FactSet. Avantis' Large Cap Value ETF is up 7.7% in 2024, as of Friday's market close. The Russell 1000 Value index gained 4.5% during the same period.

Persons: Phil McInnis, CNBC's, McInnis Organizations: Avantis Investors, Apple, Meta, JPMorgan, Costco, Exxon Mobil, Financial

☆ Stock splits are back in fashion. Here's why, and which companies could be next
▼ + stars: | 2024-06-14 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Stock splits, long out of favor, are making a comeback. Notable stock splits in 2024(when distributed)Walmart 3-1 2/23/24Cooper Companies 4-1 2/16/24Texas Pacific Land 3-1 3/27/24Old Dominion Freight Line 2-1 3/27/24Nvidia 10-1 6/7/24Amphenol 2-1 6/11/24Chipotle Mexican Grill 50-1 6/25/24Broadcom 10-1 7/12/24Williams-Sonoma 2-1 7/8/24Cintas 4-1 9/11/24Sony Group 5-1 10/8/24Lam Research 10-1 10/3/24Why the comeback in stock splits? Stock splits are far less common now than 20 or 30 years ago. During the tech and internet bubble of the late 1990s, stock splits were common. By the mid-2000s, roughly 5% of the Russell 1000 members split their stock each year, and after the great financial crisis from 2008-2009, stock splits practically ceased.

Persons: Williams, David Kostin, Goldman Sachs, Russell, Chipotle Organizations: New York Stock Exchange, Stock, Walmart, Sonoma, Broadcom, Cooper, Pacific, Dominion Freight, Sony, Institutional, Nvidia, Risk, Financial Management, Lam Research, Booking Holdings, Costco, Micro, Spotify Locations: Williams, Sonoma

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