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☆ Bed Bath & Beyond owner to lay off 20% of its workforce
▼ + stars: | 2024-10-24 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Bed Bath & Beyond's owner said in a regulatory filing that it will cut one-fifth of its workforce. AdvertisementThe parent company of Bed Bath & Beyond plans to lay off one-fifth of its workforce in a move to save $20 million per year. AdvertisementEarlier in the week, Beyond and Kirkland's Home announced a $25 million deal to open small-format, 15,000 square-foot "neighborhood" Bed Bath & Beyond locations across the US. Related storiesThe $21.5 million deal covered trademarks, internal business data, and e-commerce platforms, including websites and mobile apps, but no physical stores or inventory. The company said at the time that the additional Bed Bath & Beyond loyalty program shoppers tripled Overstock's existing customer base.

Persons: —, Adrianne Lee, Dave Nielsen, Overstock, Dominick Organizations: Inc, Service, Bed, Kirkland's, Business Locations: Utah

☆ McDonald's explains why it doesn't think its E. coli outbreak will be like Chipotle's in 2015
▼ + stars: | 2024-10-23 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

McDonald's shared more insights Wednesday into its investigation into a deadly E. coli outbreak. McDonald's said early indicators suggest slivered onions as a likely potential containment, but it couldn't rule out fresh beef. Two ingredients — the slivered onions and fresh beef patties — are being examined as potential sources of contamination. The Chipotle cases involved the handling and preparation of food in restaurants, McDonald's executives said. McDonald's said the slivered onions sold at affected restaurants come from a single supplier and are served raw on the sandwich.

Persons: McDonald's, Chipotle, —, they're, Joe Erlinger, coli, Dominick Organizations: Executives, Service, CDC, NBC, McDonald's, FDA, Business Locations: McDonald's USA

☆ Sam's Club's CTO is leaving following parent company Walmart's return-to-office mandate
▼ + stars: | 2024-10-22 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Sam's Club CTO Cheryl Ainoa is leaving following a return-to-office mandate, a company spokesperson confirmed. The company earlier this year required US corporate employees to work at one of three office hubs. AdvertisementA top Sam's Club executive is leaving their role following parent company Walmart's return-to-office mandate. Last week, Sam's Club CEO Chris Nicholas told BI that in-person work is helping the company innovate more quickly. If you are a Walmart or Sam's Club employee who wants to share your perspective, please contact Dominick via email or text/call/Signal at 646.768.4750.

Persons: Cheryl Ainoa, —, Walmart's, Cheryl Ainoa —, Chris Nicholas, Ainoa, Dominick Organizations: Sam's, Walmart, Service, Sam's Club, Business, Bloomberg, Amazon Locations: Bentonville , Arkansas, Walmart's Arkansas, New York, Bay, Bentonville, San Jose

☆ Sam's Club CEO wants you to feel like you're shopping in the future
▼ + stars: | 2024-10-21 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +8 min

Sam's Club CEO Chris Nicholas tells BI he wants shoppers to have all three. The Grapevine Sam's Club is literally bristling with tech, not just in the form of the hulking blue AI-powered gateways. Sam's Club has also been a test-bed for retail concepts that eventually find their way into Walmart's 4,600 US stores and beyond. He, too, previously served as Sam's Club CEO. "My hope is that Sam's Club, when you shop, feels like what it's like to shop in the future.

Persons: Chris Nicholas, Nicholas, —, Dominick Reuter, it's, Sol Price —, Sam Walton, Sam's, John Furner, Doug McMillon strolled, jogger sweatpants Organizations: Sam's, Service, Costco, Walmart, Shoppers, innovating, Grapevine Sam's, Business, Sam's Club Locations: Texas, Grapevine , Texas, Grapevine, Dallas, Walmart's

☆ I compared Costco locations in the suburbs and the city. Here were the biggest differences.
▼ + stars: | 2024-10-18 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +2 min

As a New York City resident, I've been hesitant about becoming a Costco member. I finally joined over the summer and decided to compare city and suburb locations. Go to newsletter preferences Thanks for signing up! AdvertisementI now live in New York City and, after joining Costco, assumed I would order products online. Still, I needed to know: Is a New York City Costco the same as the suburban Costco I've visited in the past?

Persons: I've, —, Zers, Costco's, Gary Millerchip, Insider's Dominick Reuter, Costco I've Organizations: New, Costco, Service, New York City Costco Locations: New York City, Long, , New York, New Orleans, Manhattan, East Harlem, Westbury, Here's

☆ Sam's Club just opened its first new location in 7 years. It doesn't have any checkout lanes.
▼ + stars: | 2024-10-17 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Sam's Club, owned by Walmart, opened its first new store since 2017. The fate of the Grapevine store changed after Sam's Club announced last year that it planned to open 30 locations by 2030. The layout of the Grapevine Sam's Club looks different than other locations because it lacks checkout lanes. Sam's Club said the individual pieces of technology had been working well. If you are a Sam's Club worker who wants to share your perspective, please contact Dominick via email or text/call/Signal at 646-768-4750.

Persons: Chris Nicholas, —, Dominick Reuter, Sam's, Nicholas, Dominick Organizations: Sam's, Walmart, Service, Sam's Club, Benz, Grapevine, Business Locations: Dallas, Grapevine, Grapevine , Texas

☆ Amazon invests in nuclear energy, hot on the heels of Google and Microsoft
▼ + stars: | 2024-10-16 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

The first sites in Washington and Virginia would provide carbon-free energy to meet growing demand. Amazon's announcement follows recent investments in nuclear energy from Microsoft and Google amid the AI boom. Advertisement"We need smart solutions that can help us meet growing energy demands while also addressing climate change," Amazon's vice president of global data centers, Kevin Miller, said in a statement. The first sites in Washington and Virginia would provide carbon-free energy to meet growing demand through partnerships with Energy Northwest and Dominion Energy, respectively. Constellation Energy has struck a deal to provide Microsoft with nuclear power by reopening the Three Mile Island plant.

Persons: —, Ken Griffin, Kevin Miller, – Organizations: Microsoft, Google, Service, Tech, Amazon, AWS, Citadel, Ares Management Corporation, NGP, University of Michigan, Energy Northwest, Dominion Energy, E, Constellation Energy, Susquehanna, Electric, IEEE Spectrum, Dow Locations: Washington, Virginia, Pennsylvania, New Jersey , Ohio, Texas

☆ Don't expect as many Starbucks deals this year under its new CEO
▼ + stars: | 2024-10-14 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Starbucks is reversing a push into frequent promos on drinks and snacks, The Wall Street Journal said. It's part of CEO Brian Niccol's effort to reestablish the brand's upscale, premium vibe, it added. Narasimhan said on an earnings call earlier this year that 60% of the company's sales were from the nearly 34 million Starbucks Rewards members. Multiple baristas previously told BI that the size and frequency of rewards deals were getting out of hand. In curbing its discounts, Starbucks is bucking a wider retail trend that has seen companies such as McDonald's, PepsiCo, and Walmart cut prices.

Persons: Brian Niccol's, —, Laxman Narasimhan, Narasimhan, Sara Senatore Organizations: Starbucks, Street Journal, Service, Business, PepsiCo, Walmart, Global Research

☆ Stanley cups are 'on the way out' along with skinny jeans, wealthy teens say
▼ + stars: | 2024-10-13 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

At the same time, the brand's popularity may have peaked and is "on the way out," teens said in the firm's annual survey. While Stanley's multi-colored insulated cups still have considerable caché, upper-income teens told Piper Sander that the products could soon see the same fate as skinny jeans. Upper-income male teens surveyed ranked Stanley cups as their fifth-most fashion trend on the way out. Keith told Business Insider the survey's fashion trend question is open-ended, meaning that respondents are not prompted by a list of options. "They really kind of struck gold with these larger, thick cups, with the handle and a straw," Keith told BI.

Persons: Piper Sandler, Stanley, —, Piper Sander, Peter Keith, Alexia Morgan, Keith, doesn't, weren't, Piper Sandler's, Morgan, hasn't, Dominick Organizations: Service, CNBC, PMI

☆ Costco saw 'abnormal' shopping behavior due to Hurricane Helene and the US port strike
▼ + stars: | 2024-10-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Costco shoppers stocked up on supplies in anticipation of the US port strike and Hurricane Helene. The quick resolution to the port strike will likely minimize the disruption to the flow of imports. AdvertisementShoppers turned to Costco to prepare ahead of hurricanes and the US port strike. In a quirk of Costco bookkeeping, the final week of the retailing month of September actually ended on October 6. AdvertisementThe stoppage was relatively short-lived, and those preparations could minimize disruption for Costco as the ports work through any remaining backlogs.

Persons: Costco, —, Hurricane Helene, Helene, Milton, we've, Ron Vachris, We've Organizations: Costco, Service, Shoppers Locations: U.S

☆ Walmart's in-house meteorologist has been extremely busy
▼ + stars: | 2024-10-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

With hurricane season in full swing, Walmart's emergency response team is working overtime. The company's response to storms like Hurricane Milton is coordinated by meteorologist Tom Bedard. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Advertisement"Gray-sky days" start around 3:45 a.m. for Walmart's in-house meteorologist, Tom Bedard. Walmart's in-house meteorologist Tom Bedard at work.

Persons: Hurricane Milton, Tom Bedard, Bedard, —, Helene, it's Hurricane Milton, Idalia, We've, Doug McMillon, John Furner, " Bedard, Walmart's, you've, We're, we've, Katrina —, Rita Organizations: Service, National Hurricane Center, it's, Walmart, National Disaster Preparedness Training Center, Emergency, Center, Walmart Walmart, Gulf Locations: Hurricane, Texas, Appalachia, it's Hurricane, Gulf Coast of Florida, AccuWeather, Milton, Bentonvill , Arkansas, Florida, Bentonville, Asheville , North Carolina, Houston, Houston —

☆ Walmart's meteorologist starts his days at 3:45 a.m. when a hurricane is on the way
▼ + stars: | 2024-10-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

AdvertisementWith hurricane season in full swing, Walmart's emergency response team is working overtime. The company's response to storms like Hurricane Milton is coordinated by Tom Bedard. "Gray-sky days" start around 3:45 a.m. for Walmart's in-house meteorologist, Tom Bedard. "Growing up in Houston in the 2000s, I got to see the Gulf Coast hurricane seasons at their worst. "Being able to learn more about something that terrified me is how I found my way into weather."

Persons: Hurricane Milton, Tom Bedard, Bedard, Helene, Idalia, We've, Doug McMillon, John Furner, you've, " Bedard, we've, Katrina —, Rita Organizations: National Hurricane Center —, Hurricane, Walmart, National Disaster Preparedness Training, Emergency, Center, Walmart Walmart, Gulf Locations: Hurricane, Texas, Appalachia, Gulf Coast of Florida, AccuWeather, Milton, Bentonville , Arkansas, Florida, Asheville , North Carolina, Houston, Houston —

☆ Florida's gas stations are running out of fuel and Hurricane Milton could have lasting impacts on the state's supply
▼ + stars: | 2024-10-09 | by ( Kelsey Vlamis | Katherine Tangalakis-Lippert | Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Florida gas stations are running out of fuel ahead of Hurricane Milton's landfall. If the storm damages Port Tampa Bay, it could mean long-term trouble for the gas supply chain. AdvertisementA day before Hurricane Milton was expected to make landfall, gas stations in Florida were already running out of fuel. As of 8 p.m. local time on Tuesday, more than 1 out of 5 gas stations in Florida had no gas, according to data from GasBuddy, which tracks gas prices. But lines at gas stations have been long and gas stations are running out quicker than they otherwise would."

Persons: —, Hurricane Milton, Shon Hiatt, " Hiatt, Ron DeSantis, DeSantis, Christopher Tang, Tang, Hiatt, Patrick DeHaan, DeHaan Organizations: Service, Hurricane, Tampa Bay, Business, Energy, University of Southern California's Marshall School, Port Tampa Bay —, Florida Gov, CNN, National Guard, GasBuddy, Coast Guard Locations: Florida, Tampa Bay, GasBuddy, Milton, Coast, Tampa, Orlando, Central Florida, Port Tampa Bay

☆ Home Depot is requiring its corporate employees to do shifts at the company's stores
▼ + stars: | 2024-10-09 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Home Depot now requires corporate employees to spend one day each quarter working in a retail store. Beginning in the fourth quarter of this year, Home Depot will require corporate employees to spend a day each quarter working in a retail store to better understand what customer-facing roles entail. The policy applies to corporate employees, including senior management and remote workers. According to a memo from CEO Ted Decker, employees must complete an eight-hour shift four times a year, Bloomberg reported. If you are a Home Depot worker who wants to share your perspective, please contact Dominick via email or text/call/Signal at 646.768.4750.

Persons: —, We've, Ted Decker, Eric S, Raymond, Dara Khosrowshahi, Dominick Organizations: Software, Service, swatch, Home, Bloomberg, General Electric, Depot, Business

☆ Amazon's jump-start to the holiday shopping season has even roped in Costco this year
▼ + stars: | 2024-10-08 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The holiday shopping season continues to start earlier in the year, thanks largely to Amazon. Amazon's 48-hour deals event is underway, along with competing sales by the major retailers. The holiday shopping season is underway earlier than ever, thanks largely to Amazon moving up its Prime Day deals event. Target kicked off the sequence early on Sunday with its Circle Week, while Walmart's Deals event gets underway online on Tuesday and in stores on Wednesday. What better way for retailers to tap into those trends than to invent a holiday that celebrates deals and kicks off a whole season of festivities?

Persons: — Organizations: Target, Costco, Service

☆ Walmart's founder famously descended from the sky to check on stores. A store manager explained what it was like.
▼ + stars: | 2024-10-05 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Robert Doyle, a store manager in Texas, experienced one such drop-in firsthand in the 1980s. As a new assistant manager, Doyle told BI he thought someone was playing a practical joke on him. Robert Doyle, now a store manager in Texas, told Business Insider he experienced such a visit firsthand in the 1980s. A photo of Walmart founder Sam Walton speaking to employees is displayed at the Walmart Museum in Arkansas. A photo of Walmart founder Sam Walton's book "Made in America" is displayed at the Walmart Museum in Arkansas.

Persons: Walmart's Sam Walton, Robert Doyle, Doyle, —, Sam Walton, Walmart Doyle, Hey Robert, Sam, Gilles Mingasson, Walton's, VPI, Walton, Sam Walton's, Kurt Barnard, Barnard, Doug McMillon's, Helene, Doug, I'd Organizations: Service, Walmart, Sam's Club, Walton, Walmart Museum, Associated Press Locations: Texas, Bentonville, Arkansas, America, Augusta , Georgia, Cibolo , Texas

☆ As Costco sells platinum, experts explain how the precious metal differs from gold
▼ + stars: | 2024-10-04 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Costco sells a broad selection of gold and silver products, and now it's adding platinum to the mix. The wholesaler has already sold through multiple rounds of platinum coins and bars in the past week. AdvertisementCostco shoppers have been snapping up a broad selection of gold and silver products over the past year. Costco now offers platinum products online, including both bars and coins. Related storiesGoldCore's business is primarily in gold and silver, but Russell told BI that platinum makes up a "very small percentage" of what the company sells.

Persons: —, Gary Millerchip, Edward Sterck, Sterck, bode, Mindy Schauer, David Russell, Russell Organizations: Costco, Service, Canadian Mint, Platinum Investment Council, Media, Getty, ICE Locations: Swiss, Orange

☆ I compared Costco locations in the city and the suburbs. Here were the biggest differences.
▼ + stars: | 2024-10-04 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +2 min

☆ There's already a queue of cargo ships backing up at US ports
▼ + stars: | 2024-10-03 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

AdvertisementCargo vessels (green dots) and tankers (red dots) at anchor outside Eastern US ports. AdvertisementCargo vessels (green dots) and tankers (red dots) along the Mid-Atlantic. Cargo vessels (green dots) and tankers (red dots) along the Gulf Coast. Cargo vessels (green dots) and tankers (red dots) outside Savannah, Georgia, and Charleston, South Carolina. Cargo vessels (green dots) and tankers (red dots) outside Norfolk, Virginia.

Persons: —, Andrew Coggins, Coggins, MarineTraffic.com Burt Flickinger, MarineTraffic.com, Brandon Daniels, Daniels, Taft, Hartley, Hurricane Helene Organizations: Industry, Service, International Longshoreman's Association, Reuters, Pace University, MarineTraffic.com, Strategic Resource, ILA, US Marine Alliance Locations: East, Gulf Coast, New York, Virginia Beach, Savannah, Miami , New Orleans, Houston, Gulf, Western, Savannah , Georgia, Charleston , South Carolina, Norfolk , Virginia, Hurricane

☆ Fears of automation are at the heart of the dockworkers strike
▼ + stars: | 2024-10-02 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Automation is a core issue at play in the ongoing dockworker strike at Eastern US ports. AdvertisementStriking dockworkers at US ports say they're worried that jobs could plummet as shipping companies increasingly turn to automation. Picketing workers gathered at ports in New York and Miami carrying signs reading "Machines don't feed families" and "Fight automation, Save jobs." AdvertisementThe union's objection to the way shipping companies are using automation now is a key sticking point in the negotiations for a new labor contract. The move eventually contributed to the ILA earning the unusual distinction of being a labor union being named in an unfair labor practices complaint filed by management.

Persons: —, USMX, Harold Daggett, Jesus Olarte, Daggett, it's, Stephen Edwards, Dominick Organizations: Service, International Longshoremen's Association, US Maritime Alliance, Business, Port, Getty, Maersk, APM, New York Times, ILA Locations: Eastern, New York, Miami, East Coast, Anadolu, Mobile , Alabama, Port of Virginia, Norfolk, Baltimore

☆ These consumer products are most likely to be impacted by the port strike
▼ + stars: | 2024-10-01 | by ( Dominick Reuter | Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

US port workers are on strike following the expiration of their labor contract Monday night. The work stoppage at Eastern and Gulf Coast facilities will impact a host of consumer products. AdvertisementUS port workers with the International Longshoremen's Association are on strike following the expiration of their union's contract Monday night. In the latest development of the ongoing labor dispute, the work stoppage at Eastern and Gulf Coast facilities is expected to impact a host of consumer products. Continental Tire, Michelin, and Goodyear are all top importers through East and Gulf Coast ports, Pacula noted.

Persons: —, Margaret Kidd, Brian Pacula, West, Tim Ryan, Pacula, Dali, Francis Scott Key, Hurricane Helene, Michael Yamartino, Chris Butler Organizations: Gulf, Service, International Longshoremen's, Conference Board, University of Houston, Walmart, Wall, Jefferies, Continental Tire, Michelin, Goodyear, Port, National Tree Company Locations: Gulf Coast, West Coast, Central, South America, West Monroe, Florida, Peru, Miami, Asia, East, Europe, Baltimore, Hurricane

☆ A major port strike is looming. Costco says it's prepared.
▼ + stars: | 2024-09-30 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Eastern US ports could largely halt operations if a maritime workers union goes on strike Tuesday. "We've taken as many preemptive measures as we could to prepare," CEO Ron Vachris said last week. "The port strike is something we've been watching very closely for some time," Costco CEO Ron Vachris said last week during the company's fourth-quarter earnings call. Related stories"We have done a little bit of everything," the Costco CEO said. They're watching it closely and we've taken as many preemptive measures as we could to prepare for this."

Persons: We've, Ron Vachris, —, we've, Vachris, Abe Eshkenazi, Eshkenazi, Pete Buttigieg Organizations: Costco, Service, Retailers, Longshoremen's Association, United States Maritime Alliance, Association for Supply Chain, White, Transportation Locations: East Coast, Gulf, North America

☆ Costco's members are getting younger as millennial and Gen Z shoppers flock to wholesale clubs
▼ + stars: | 2024-09-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Costco is the latest warehouse club to tout its growing popularity with millennial and Gen Z shoppers. Sam's Club has reported similar trends as younger shoppers look to stretch their budgets. AdvertisementOne of the hottest clubs for millennials and Gen Z continues to be the wholesale club. AdvertisementThe news echoes results from Sam's Club, the Walmart-owned club store, where Gen Z membership has grown by 68% in the past two years. Related stories"That generation believes it's cool to save money, and we agree with them," Sam's Club CEO Chris Nicholas told CNBC in June.

Persons: —, Gen Z, Gary Millerchip, Millerchip, GoBankingRates, Dominic Wright, Placer.ai, That's, Hottovy, Chris Nicholas, Nicholas, Corey Tarlowe, Jordan, Ford Pinto, TJ, Tarlowe, you'll, Mercedes, Costco's Kirkland, Club's, Mark Organizations: Costco, Sam's, Service, millennials, Analytical Research, Business, Sam's Club, Walmart, CNBC, Jefferies, Price Club, TJ Maxx

☆ Costco says its new member ID scanners at entrances are good for business — and shoppers too
▼ + stars: | 2024-09-27 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Costco installed ID scanners at more than half of its US warehouses and says the system is working. The company also said members have largely shrugged off the latest increase to the annual fee. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. If you are a Costco worker who wants to share your perspective, please contact Dominick via email or text/call/Signal at 646.768.4750. Responses will be kept confidential, and Business Insider strongly recommends using a personal email and a non-work device when reaching out.

Persons: Ron Vachris, —, they're, Vachris, Gary Millerchip, We've, Dominick Organizations: Costco, Service, Sam's Club, Business

☆ Costco says its $1.50 hot dogs and $4.99 chickens are helping members stomach the annual fee increase
▼ + stars: | 2024-09-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Costco says it hasn't seen a meaningful drop in sign-ups or renewals after the member fee increase was announced. "We've stayed true to our principles of really trying to help the member and deliver the value," he said. AdvertisementCostco says members have largely shrugged off the latest fee increase. Millerchip also noted that Costco delayed the fee increase by about two years compared with its typical average cycle, due to the impacts on consumers from the pandemic and inflation. For the full fiscal year, membership fees totaled $4.8 billion, representing half the total operating income for the period, and the company expects the benefit from the fee increase to begin showing up in the next six to 12 months.

Persons: hasn't, Gary Millerchip, We've, —, Millerchip, There's, we've Organizations: Costco, Service Locations: Canada

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