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☆ Walmart CEO: Inflation on toys, clothing and sports equipment is easing
▼ + stars: | 2022-12-06 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +1 min

New York CNN Business —Finally, shoppers are getting some good news about prices: Inflation is falling on discretionary merchandise just in time for the holidays, Walmart chief Doug McMillon said Tuesday. “In toys, sporting goods, apparel, categories like that, prices have come down more aggressively,” McMillon said in an interview on CNBC. Sporting goods were up 3%, while apparel was up 4.1%. McMillon said budget-conscious customers were most pressured by inflation, but other shoppers “have money to spend.”Kroger (KR)also said last week that food inflation was easing. “If you look at in our fresh departments, clearly, inflation is slowing down in many categories,” Kroger chief Rodney McMullen said on a call with analysts.

☆ An Ohio family is suing Kroger claiming their son who killed himself after working there was harassed by his managers in case that challenges 'suicide rule'
▼ + stars: | 2022-12-02 | by ( Bethany Biron | ) www.businessinsider.com time to read: +4 min

The family of Evan Seyfried, who died by suicide in March 2021, is suing his employer claiming he was harassed and bullied. The lawsuit against Kroger challenges a decades-old precedent in Ohio that prevents placing legal blame in the case of suicide. Evan Seyfried's family claims store managers harassed and bullied him, ultimately causing Seyfried to take his own life in March 2021. Pigg, the suit claims, told Seyfried he could hack into Seyfried's computer and track his internet usage, and later allegedly sent him obscene and pornographic messages from unknown numbers. Kroger did not respond to Insider's request for comment, but told the Enquirer it does not comment on ongoing litigation.

☆ Walmart's active-shooter training is so old and 'inadequate' that it has become a meme, some workers say
▼ + stars: | 2022-12-02 | by ( Ben Tobin | ) www.businessinsider.com time to read: +6 min

Walmart's active-shooter training has been around in some form for at least a decade, employees say. Some workers say Walmart needs to do more on top of the training to address workers' mental health. Three current and former employees of the retail giant told Insider the active-shooter training wasn't enough to keep them safe. Walmart employees told Insider they're worried about whether the quarterly active-shooter training had prepared them for violence in stores. The lawsuit also said the shooter "repeatedly asked coworkers if they had received their active shooter training."

☆ Activision acquisition would be good for Microsoft and the overall stock market
▼ + stars: | 2022-12-02 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

That implies that the other 35% of the market is made up of firms with equal to or less than about a 2% market share. For simplicity's sake, let's say an additional 17 firms have a 2% market share each to bring us to 100% of the market. That means the HHI, calculated by the market share number squared and then added together for all 27 companies, would be under 650. If the Microsoft-Activision Blizzard deal goes through, and you combine the market share concentration of the two companies, the HII would be just over 700. The other issue is how one measures the gaming market.

☆ Kroger Needs to Up Its E-Commerce Game
▼ + stars: | 2022-12-01 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Kroger’s same-store sales growth lags behind that of big-box retailers and some peers. Kroger isn’t exactly dominating the grocery space today. That presents a mixed bag for investors to sort through. The supermarket giant had another solid quarter, with identical-store sales—excluding fuel—up 6.9% in its quarter ended Nov. 5 compared with a year earlier. That was much better than the 4.4% increase analysts polled by Visible Alpha were expecting.

☆ Kroger Needs to Up its E-Commerce Game
▼ + stars: | 2022-12-01 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

☆ Kroger’s Sales Continued to Climb in Third Quarter
▼ + stars: | 2022-12-01 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Kroger Co. raised its annual guidance for the third time in a row this year following yet another quarter of climbing sales. The Cincinnati-based grocery store operator on Thursday reported third-quarter revenue of $34.2 billion, up from $31.9 billion a year ago and above analyst estimates of $34 billion, according to FactSet.

☆ Kroger hikes forecast after stronger grocery sales top estimates
▼ + stars: | 2022-12-01 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Kroger on Thursday raised its forecast for the year after stronger third-quarter sales topped Wall Street expectations and inflation continued to push up the prices shoppers pay for milk, eggs and other groceries. Kroger CEO Rodney McMullen said the company is attracting shoppers by offering value. At Kroger, identical sales rose 6.9%, excluding fuel, in the third quarter. For the full year, Kroger now anticipates adjusted net earnings to range from $4.05 to $4.15. Kroger announced in October that it plans buy its competitor, Albertsons , in a deal valued at $24.6 billion.

☆ GoodRx is a buy that can surge 60% from here, Citi says
▼ + stars: | 2022-12-01 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

The sell-off in telemedicine name GoodRx is overdone, and now is a good time to buy the stock, according to Citi. "In our view, GDRX will continue to serve a vital role in bringing transparency/consumerism to a historically unshopable market," Grosslight wrote in a Wednesday note. In addition to its focus on generic retail prescription drugs, GoodRx has recently expanded into branded Rx spending as well. the recently announced ESI partnership for commercial members)," Grosslight wrote. "In our view, the market has been too punitive, effectively pricing in no terminal value," he added.

☆ CEOs from Kroger and Albertsons say they’re worried about competition from Amazon, but the e-commerce giant barely makes up 1% of US grocery sales
▼ + stars: | 2022-12-01 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

The CEOs of Kroger and Albertsons say their proposed merger will help them defend against Amazon. But Amazon's market share is a fraction of larger players, including both Kroger and Albertsons. But market share data suggests that a combined Kroger and Albertsons would be much larger by sales than Amazon the day the merger takes place. For all of its moves in grocery, Amazon commanded just 1.2% of sales, according to Euromonitor. The entire US grocery market represented $1.27 billion in sales last year, according to Euromonitor.

☆ Marketmind: Stop making sense
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +2 min

[1/4] The Federal Reserve building is seen in Washington, U.S., January 26, 2022. "It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down," Powell said. Perhaps not, but markets are moving ahead with an assumption we're nearly there. European futures indicate stocks in the region will spike higher, tracking Asian equities, which were tracking Wall Street. "To promote wage growth, the BOJ needs to patiently maintain its current monetary easing."

☆ Analysis: Retailers turn to robots in cost inflation fight
▼ + stars: | 2022-12-01 | by ( James Davey | ) www.reuters.com time to read: +6 min

He estimates the retail industry is 40% automated, but sees that jumping to 60-65% over the next three to four years. The march of the robots can be seen in fashion stores and food shops globally as an industry that employs millions grapples with the cost of rising wages, energy and raw goods. While processes at online retailers are largely automated, vast parts of a traditional retailer's operations are still carried out manually, according to consultants at McKinsey. Looking at the fashion industry, McKinsey expects fashion companies to double investment in technology from 1.6% to 1.8% of their revenue in 2021 to between 3.0% and 3.5% by 2030. "Retailers are saying 'robots are the future,'" Michel Spruijt, Brain Corp's chief revenue officer, told Reuters, adding that the shift could "free up workers from tedious" tasks.

☆ Inflation is starting to stabilize in our fresh food departments, says Kroger CEO
▼ + stars: | 2022-12-01 | 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 EmailInflation is starting to stabilize in our fresh food departments, says Kroger CEORodney McMullen, Kroger CEO, joins 'Closing Bell' to discuss the state of the consumer relative to the company's raised guidance, if the pricing power tide is turning and if there's been any change to the adoption of e-commerce within grocery stores.

☆ Stocks making the biggest moves premarket: Designer Brands, Lands' End, Salesforce and more
▼ + stars: | 2022-12-01 | by ( Peter Schacknow | ) www.cnbc.com time to read: +3 min

Dollar General (DG) – Dollar General slumped 6.1% in premarket trading after the discount retailer cut its annual forecast due to higher costs. Lands' End (LE) – The apparel retailer reported an unexpected quarterly loss. Salesforce (CRM) – Salesforce fell 7.4% in the premarket after the business software company announced that co-CEO Bret Taylor would be stepping down January 31, leaving Chairman Marc Benioff as the sole CEO. Five Below (FIVE) – Five Below rallied 9.3% in premarket trading in the wake of better than expected quarterly results. Splunk (SPLK) – Splunk staged an 8.1% premarket rally after the data management software company reported upbeat quarterly results and boosted its full-year forecast.

WASHINGTON, Nov 29 (Reuters) - Skeptical lawmakers from across the political spectrum questioned executives at grocers Kroger Co (KR.N) and Albertsons Companies Inc (ACI.N) on Tuesday about their planned $25 billion merger amid concerns the tie-up could boost already-high food prices. The deal will be reviewed by the Federal Trade Commission to ensure it is legal under antitrust law. Stores under the Albertsons umbrella include Balducci's, Haggen, Kings, Safeway, Star Market, Tom Thumb, United Supermarkets and Vons, among others. The companies have also been criticized for a plan to give Albertsons' shareholders a $4 billion dividend payment. Senator Tom Cotton, a conservative Republican, criticized Kroger for the company's aprons with a design that appeared to support gay pride.

☆ Stock futures tick higher after Wednesday's rally
▼ + stars: | 2022-11-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures ticked higher in overnight trading Wednesday. Futures tied to the Dow Jones Industrial Average added 12 points, or 0.03%, while those tied to the S&P 500 and Nasdaq 100 gained 0.25% and 0.27%, respectively. Salesforce's stock shed 6% in extended trading on news that co-CEO Bret Taylor is stepping down. The Nasdaq rose 4.37% — its second positive month in a row for the first time since a three-month streak ending December 2021. Both the S&P and Dow rose 5.38% and 5.67%, respectively, to finish their second month of gains for the first time since August 2021.

WASHINGTON, Nov 29 (Reuters) - Top executives at Kroger Co (KR.N) and Albertsons Companies Inc (ACI.N) on Tuesday defended their planned $25 billion merger before skeptical lawmakers who fear the deal would push up food prices at a time of high inflation. "A combined Kroger and Albertsons will remain at number four as we will continue to compete with these companies to sell groceries. Those same three competitors have nearly three times the share of grocery sales of Kroger and Albertsons combined," he said, according to written remarks. In that case, the companies were forced to sell 168 stores to ensure that competition would remain fierce and prices would not rise. The companies have also been criticized for a plan to give Albertsons' shareholders a $4 billion dividend payment.

☆ Kroger, Albertsons Expected to Defend Grocery Merger at Senate Hearing
▼ + stars: | 2022-11-29 | by ( Jaewon Kang | ) www.wsj.com time to read: 1 min

An Atlanta store operated by Kroger, the largest U.S. supermarket chain by sales. Chief executives of the two largest U.S. supermarket chains are set to testify Tuesday at a Senate subcommittee hearing, where they are expected to defend their companies’ proposed $20 billion merger and address questions about how it could affect American grocers and consumers. Kroger Co. CEO Rodney McMullen and Albertsons Cos. CEO Vivek Sankaran are expected to testify before the Subcommittee on Competition Policy, Antitrust and Consumer Rights, led by Sens. Amy Klobuchar (D., Minn.) and Mike Lee (R., Utah).

☆ Albertsons, Kroger CEOs to defend $25 bln merger to skeptical U.S. senators
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 29 (Reuters) - Top executives at Kroger Co (KR.N) and Albertsons Companies Inc (ACI.N) are expected to face tough questions on Tuesday from lawmakers who worry the grocers' planned $25 billion merger will push up food prices at a time when inflation is a concern. Kroger Chief Executive Rodney McMullen and Albertsons' chief, Vivek Sankaran, will go before the Senate Judiciary Committee's antitrust panel, some of whose members have already criticized the deal. Senators Amy Klobuchar, chair of the Senate antitrust panel, and Richard Blumenthal were among those who signed a letter to Federal Trade Commission Chair Lina Khan, saying the merger "raises considerable antitrust concerns." Ideally, they would like to find buyers for the facilities but could also put them into a new company that would be owned by Albertsons' shareholders. The companies may also draw fire on Tuesday for a widely criticized plan to give Albertsons' shareholders a $4 billion dividend payment.

☆ Kroger and Albertsons want to create a grocery empire. The last supermarket mega-merger backfired
▼ + stars: | 2022-11-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

With the FTC’s blessing, Haggen, a small supermarket chain in the Northwest with just 18 locations, bought 146 of the former Albertsons and Safeway stores, including the one where Martinez worked. In an weird twist, Albertsons bought back dozens of the same stores it previously sold to Haggen in bankruptcy court — at a lower price. Now she worries Kroger will divest Ralphs as part of its merger with Albertsons in a repeat of the Haggen 2015 deal. To address antitrust concerns that the merger will stifle competition in local markets where they overlap, Kroger and Albertsons plan to divest stores. In 2015, Haggen bought a Vons grocery store (owned by Safeway at the time) in Carpinteria as part of the Albertsons and Safeway divestitures.

☆ Kroger, Albertsons CEOs defend grocery tie-up, say deal won't hurt competition
▼ + stars: | 2022-11-29 | by ( Melissa Repko | ) www.cnbc.com time to read: +2 min

The battle over whether grocery giants Kroger and Albertsons should be allowed to combine is heating up. "I just don't see less competition going forward," Kroger CEO Rodney McMullen said at the hearing by the Senate Judiciary Subcommittee on Competition Policy, Antitrust, and Consumer Rights. Kroger announced plans in October to acquire Albertsons in a deal valued at $24.6 billion. They emphasized that the proposed deal comes at a time when groceries are taking up more of American families' budgets. Food prices have surged as inflation hovers near four-decade highs.

☆ Access to alternative investments have never been easier, but some VCs don't think that's a good thing
▼ + stars: | 2022-11-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Insider's Asia Martin spoke to some VCs who were skeptical about startups broadening access into these risky, illiquid assets. It's a common dilemma in fintech, as Asia pointed out to me, as access often takes precedence over education. Click here to read more about opening up access to alternatives and why some VCs are questioning it. From political donations to sports teams, this is everything the FTX founder spent money on. We asked top VCs to identify the best startups that help developers build apps for the cloud.

The hearing was called by Klobuchar along with Senator Mike Lee, the top Republican on an antitrust panel of the Senate Judiciary Committee. "The hearing will examine the impact of the proposed merger of Kroger and Albertsons, the two largest grocery chains in the country," the statement said. The FTC is expected to aggressively review the deal to ensure it complies with antitrust law. While the two are the largest standalone grocers, Walmart is the market leader. Reporting by Diane Bartz; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

☆ Cramer’s week ahead: Strong labor report could lead Fed to more aggressive rate hikes
▼ + stars: | 2022-11-28 | by ( Krystal Hur | ) www.cnbc.com time to read: +4 min

ETProjected EPS: 84 centsProjected revenue: $1.59 billionCramer predicted it'll be difficult for the company to top its last "spectacular" quarter. Wednesday: Hormel Foods, Petco, Salesforce, OktaHormel FoodsQ4 2022 earnings release at 6:30 a.m. ETProjected EPS: 50 centsProjected revenue: $3.38 billionHormel might follow other food stocks that have stopped going down, Cramer said. ETProjected EPS: 16 centsProjected revenue: $1.49 billionHe said he's worried the company will report disappointing results. Thursday: Dollar General, Kroger, Ulta Beauty, Marvell TechnologyDollar GeneralQ3 2022 earnings release at 6:55 a.m.

☆ The C-Suite Survival Guide to Inflation and Economic Turbulence
▼ + stars: | 2022-11-27 | by ( Brian Hershberg | ) www.wsj.com time to read: +5 min

C-suite executives and other business leaders are planning for a period where inflation is sticky, interest rates are rising, the geopolitical landscape is fraught with tumult and the economy is slowing. U.S. retailers, for instance, are struggling to balance consumer expectations for discounts and the need to keep raising prices to offset high inflation. Real-estate companies are finding it costly to hedge their floating-rate debt amid surging interest costs, and even highly rated companies are pursuing term loans instead of bonds to save on interest costs. In Europe, the war in Ukraine is driving inflation, food shortages, and the prospect of a long, cold winter. Here is how marketing executives can continue to sell their brands to consumers during tight times.

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