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☆ Chipotle is selling 'Chipotle Boy' bowls aimed at vest-wearing finance bros
▼ + stars: | 2024-06-18 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

"Chipotle Boys" are getting their own special. "You know who you are," Chipotle said in its promotion of the double-chicken and white rice bowl. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementMove over rat boys; it's a Chipotle Boy summer.

Persons: Chipotle, — Organizations: Service

☆ Apple appears to be laying the groundwork for a new moneymaking iPhone feature
▼ + stars: | 2024-06-17 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Apple's new iOS 18 will make iPhone 14s and later models less reliant on WiFi and cell connectivity. The company is expanding an emergency satellite-messaging feature introduced with the iPhone 14. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSeveral of Apple's iOS 18 software features will make the iPhone 14 and later models less reliant on WiFi and cellular connectivity — and could even make the company less reliant on iPhone sales. The company is expanding an emergency-messaging feature, introduced with the iPhone 14, that enables devices to contact first responders via satellite.

Persons: — Organizations: Apple, Service, Business

☆ Apple appears to be laying the groundwork for a new money-making iPhone feature
▼ + stars: | 2024-06-17 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Apple's new iOS 18 will make iPhone 14 and later models less reliant on wi-fi or cell connectivity. The company is expanding an emergency satellite messaging feature first introduced with iPhone 14. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSeveral of Apple's iOS 18 software features will make iPhone 14 and later models less reliant on wi-fi or cellular connectivity — and could potentially even make the company less reliant on iPhone sales. The company is expanding an emergency messaging feature, first introduced with iPhone 14, which enabled devices to contact first responders via satellite.

Persons: — Organizations: Apple, Service, Business

☆ Amazon built a big business with tiny orders. Now Walmart is stealing the strategy.
▼ + stars: | 2024-06-16 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Amazon's typical shopper makes 72 purchases per year from the site, usually with small basket sizes. Now, Walmart's CFO says Walmart+ members are increasingly placing orders of just one or two items. The Walmart US CEO also said it takes a shopper four orders on average to embrace frequent delivery. AdvertisementAmazon was able to achieve e-commerce dominance in part through millions and millions of tiny orders. By contrast, Walmart's typical shopper shops a little less frequently and spends more per transaction, and tends to shop more in-store.

Persons: — Organizations: Walmart, Service, Business

☆ Costco sells a surprising variety of gold and silver – we counted 17 different items
▼ + stars: | 2024-06-14 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Costco has made headlines selling gold bars from Swiss and South African refineries. Collectors are tracking a dozen or so other gold and silver products the company has sold. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBy now most folks have heard that Costco sells a lot of gold. But while the coverage has focused largely on gold bars from Swiss and South African refineries, the wholesale club's precious metals offering is much bigger.

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

☆ 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 Chick-fil-A in Louisiana is doing a $35 'summer camp' where kids see what it's like to work at the restaurant
▼ + stars: | 2024-06-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

A Chick-fil-A in Louisiana is hosting a "summer camp" for kids to get an inside look at the chain. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA Chick-fil-A restaurant in Hammond, Louisiana, is hosting a "summer camp" for kids to get an inside look at the chain. Promoted for kids aged 5 to 12, the event promises "a behind-the-scenes view of what it's like to work at America's favorite quick-service restaurant." The restaurant said the roughly 180 reservations across six days were booked within a day of being announced for a cost of $35 each.

Persons: — Organizations: Service, Business Locations: Louisiana, Hammond , Louisiana

☆ I'm a Costco forklift driver. My job is essential to the warehouse's success.
▼ + stars: | 2024-06-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +8 min

Read previewThis as-told-to essay is based on a conversation with a Chicago-area Costco forklift driver who requested anonymity as they are not authorized to speak with the media. I was a supervisor in the warehouse and then ultimately settled down as a forklift driver. Typically, Costco forklift drivers are seen kind of like supervisors, because you designate the flow of the building. I also make more as a forklift driver now than I did ten years ago as a supervisor. You can't keep it on the floor, so you're gonna have to rack it on tall steel shelves, and you're gonna eventually have to bring that stuff down.

Persons: —, I'm, it's, they've, There's, there's, — there's, let's Organizations: Service, Costco, Business, OSHA, Gatorade Locations: Chicago, Kirkland

☆ One potential reason Costco's Kirkland Signature products win over shoppers? The CEO signs off on every new item
▼ + stars: | 2024-06-11 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Kirkland Signature, Costco's private label brand, has won the company some die-hard fans. Non-fuel sales reached $56 billion last year, or nearly a quarter of Costco's annual revenue. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But some customers are even more enthusiastic about a brand they can only get from the warehouse club: Kirkland Signature. For nearly 30 years, Costco's private label brand has been winning the company some die-hard fans with products that are easily as good — or better — than their national brand competitors, and priced as much as 20% less.

Persons: Kirkland, — Organizations: Service, Costco, Kirkland, Business

☆ Sam Altman just got two new colleagues at OpenAI: Sarah Friar and Kevin Weil
▼ + stars: | 2024-06-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

OpenAI is hiring Sarah Friar and Kevin Weil to join its C-suite. Weil joins from Planet Labs and will be chief product officer. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSam Altman will have some top-tier talent joining him in the OpenAI C-suite. The company announced Monday that Sarah Friar and Kevin Weil will be the company's new CFO and chief product officer, respectively.

Persons: Sarah Friar, Kevin Weil, Friar, Weil, —, Sam Altman, Sarah, Kevin, Altman Organizations: Planet Labs, Service, Business

☆ 3 big trends are working in Walmart's favor
▼ + stars: | 2024-06-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Walmart is enjoying the results of a flywheel effect between three major trends. As inflation attracts more customers to the retailer, its relative costs come down. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In a call with investors on Friday, executives at the retail giant revealed how the business is benefiting from a flywheel effect between three major trends. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Walmart, Service, Business

☆ I visited Wayfair's first physical store and got major Ikea vibes — with a few surprises thrown in
▼ + stars: | 2024-06-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

After more than two decades as an online-only retailer, Wayfair is getting into brick-and-mortar. In May, the housewares company opened its first-ever store outside Chicago. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFor all of its 22 years in business, housewares retailer Wayfair has been online only. That all changed in May when the company opened its first-ever brick-and-mortar store in the Chicago suburb of Wilmette, Illinois.

Persons: —, Wayfair Organizations: Ikea, Service Locations: Chicago, Wilmette , Illinois

☆ I visited Wayfair's first-ever physical store in Chicago. Take a look.
▼ + stars: | 2024-06-09 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Persons: —, Wayfair Organizations: Ikea, Service Locations: Chicago, Wilmette , Illinois

☆ The Walmart heirs have added more than $53 billion to their combined net worth this year — second only to Nvidia CEO Jensen Huang
▼ + stars: | 2024-06-07 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

The heirs to Walmart founder Sam Walton have added $53.7 billion to their combined wealth this year. Only Nvidia CEO Jensen Huang has seen a larger increase in his net worth on Bloomberg's Billionaire Index. AdvertisementIt's no secret that Nvidia founder and CEO Jensen Huang has had an explosive year so far when it comes to his personal net worth. Huang has more than doubled his fortune since January, adding more than $62 billion as the chipmaker's stock is up 40% year-to-date. And while Mark Zuckerberg saw the second-highest growth in individual wealth in 2024, according to Bloomberg's Billionaire Index, the combined gains seen by the Walmart heirs outpaced the Meta CEO.

Persons: Sam Walton, Jensen Huang, Walton, —, Huang, Mark Zuckerberg Organizations: Walmart, Nvidia, Service, Meta

☆ I drove to Chicago to try out McDonald's little-known CosMc's test location. Dunkin Donuts should be on alert.
▼ + stars: | 2024-06-06 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

McDonald's now has four CosMc's locations open, one near Chicago and three near Dallas. I visited the original Chicago location. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . McDonald's now has four locations open for testing — one near Chicago and three near Dallas — with six more Texas locations slated for this year. "CosMc's is a small format concept with all the DNA of McDonald's but its own unique personality.

Persons: McDonald's, Dunkin, —, Chris Kempczinski Organizations: Service, Dallas, Business Locations: Chicago, Dallas, Dallas —, Texas

Mike Kratky, 33, Leerink PartnersLeerink PartnersSector: Medical devices and technologyKratky's young career underwent a major shift in March 2020 — and it wasn't remote work. The Colgate University graduate thinks he's a better analyst for it because he now understands how readers of his research think. "The stock calls won't always go my way," Kratky said. All eight of the outperform-rated medtech stocks Leerink has covered since October have outperformed the S&P 500 and their industry index. The medtech industry is experiencing rapid change, particularly with the advent of GLP-1 drugs that treat obesity and diabetes.

Persons: Mike Kratky, Kratky, Leerink, He's, he's, Kratky's, — James Faris Organizations: Leerink Partners Leerink Partners, Nasdaq, Riley Securities, Colgate University, Tandem Diabetes Care Locations: Leerink

☆ Walmart is giving US hourly workers new bonuses that increase the longer they've been at the company
▼ + stars: | 2024-06-05 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Walmart just announced a new slate of pay and benefits perks for US hourly associates. Some 700,000 workers are eligible for a new bonus that increases with their years with the company. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The retailer just announced a new slate of pay and benefits perks for US hourly associates, including a new bonus that increases with their years with the company. Around 700,000 part- and full-time workers are now eligible for annual bonuses that are tied to their store's performance, the Associated Press reported.

Persons: — Organizations: Walmart, Service, Associated Press, Business

☆ Costco's $1.50 hot dog combo is 'safe,' new CFO says. Here are the hoops the company jumps through to keep prices low on things like chicken and eyeglasses.
▼ + stars: | 2024-06-03 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Costco's new CFO took care last week to assure members that the $1.50 hot dog combo is "safe." Accomplishing this has helped the company to figure out ways to offer low prices on other key items. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As cofounder Jim Sinegal famously told former CEO Craig Jelinek, "If you raise [the price of] the effing hot dog, I will kill you." This story is available exclusively to Business Insider subscribers.

Persons: —, munch, Jim Sinegal, Craig Jelinek Organizations: Service, Costco, Business

☆ Get ready for hot discount summer — see the list of stores slashing prices
▼ + stars: | 2024-06-01 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Inflation has slowed in recent months, but prices are still high in many consumer categories. Heading into the summer, retailers are beginning to offer savings, especially in the grocery aisles. Here's a roundup of major stores slashing prices, including Amazon, Walmart, and Target. AdvertisementThe weather is heating up and inflation is cooling down, but prices are still high in many consumer categories. As we head into the summer, retailers are beginning to offer savings in a big way, with discounts of up to 30% on thousands of products.

Persons: — Organizations: Amazon, Walmart, Service, Business

☆ Gold bars and silver coins at Costco continue to be top sellers — and a cheat code for boosting its online sales
▼ + stars: | 2024-05-31 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Gold bars and silver coins continue to show strong sales for Costco. The company sells an estimated $200 million per month of the metals. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGold bars and silver coins had another quarter of strong sales for Costco. Analysts estimate the company sells around $200 million of gold and silver each month, and former CFO Richard Galanti has said the supply usually sells out "within hours."

Persons: —, Richard Galanti Organizations: Costco, Service, Business

☆ Walmart store manager says he 'almost fainted' when he found he could make up to $530K under a new pay plan
▼ + stars: | 2024-05-31 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Earlier this year, Walmart announced a new store manager pay plan that tops out at $530,000. Store manager Greg Harden told Bloomberg he "almost fainted" when he learned of it. Walmart says better pay and benefits, plus better tech, have lowered turnover among store leadership. AdvertisementWalmart made waves earlier this year when it announced it was upping pay for store managers, with some potentially able to earn up to $530,000. "I almost fainted when I found out," said Greg Harden, a Supercenter manager in Texas told Bloomberg.

Persons: Greg Harden, —, Harden Organizations: Walmart, Bloomberg, Service, Business Locations: Texas, Grand Prairie , Texas, Dallas

☆ Target fans can find their favorite private label products for half price from this salvage seller on Poshmark
▼ + stars: | 2024-05-30 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

A seller specializing in Target products has amassed a considerable following on eBay and Poshmark. Bullseye Deals sources salvage merch from Target, including from the company's private label brands. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA seller has amassed a considerable following, offering huge deals on Target products to buyers on eBay, Poshmark, and Facebook Marketplace.

Persons: — Organizations: eBay, Target, Service, Facebook, Business Locations: Poshmark

☆ Costco says it's not ready to raise its $60 membership fee — for now
▼ + stars: | 2024-05-30 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Costco isn't ready to raise its membership fee, but says it's still a matter of when, not if. Membership fees represent more than half the company's operating income. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCostco is once again kicking the can on raising its membership fee. This story is available exclusively to Business Insider subscribers.

Persons: it's, —, Richard, Gary Millerchip, Richard Galanti Organizations: Costco, Service, Business

☆ Dick's says its youth sports app will bring in $100 million this year
▼ + stars: | 2024-05-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Dick's Sporting Goods has something unusual for a retailer: an app to manage youth team sports. The service now boasts 5 million users who spend a half hour per day on the platform. Dick's says the business will bring in $100 million this year, in addition to driving retail sales. Now, the aptly named Game Changer platform is driving real revenue with some notable engagement, Dick's CEO Lauren Hobart told investors on the company's earnings call Wednesday. Hobart said last quarter saw 5 million users who spent a half hour per day on the platform, and Game Changer says it supports over a million teams and over 7 million games per year.

Persons: —, Lauren Hobart, Hobart, Navdeep Gupta Organizations: Sporting Goods, Service, Goods, Business, ESPN

☆ Target slashed this year's Pride collection after last year's backlash, leaving some LGBTQ+ insiders feeling alienated
▼ + stars: | 2024-05-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +7 min

Read previewOn Tuesday, May 14th, members of Target's LGBTQ+ employee resource group logged on for a much-anticipated virtual meeting to preview the 2024 Pride collection, two council members told Business Insider. Target's online Pride collection on May 28. But late last May, conservative protesters took aim at Target's Pride collection, falsely claiming the merchandise was "Satanic" and sexualized minors. However, the two Pride Council members and multiple LGBTQ+ vendors who worked on past Pride collections told BI they feel the company hasn't done enough to rebuild its relationship with its LGBTQ+ partners over the past year. AdvertisementOne of the employees involved in the Pride Council told BI that a lot of LGBTQ+ people, herself included, joined Target specifically because of its stated support for trans and queer rights.

Persons: —, Brand Management Carlos Saavedra, Dominick Reuter, Erik Carnell, hasn't, Hayley Marzullo, Marzullo, Leslie Garrard, Garrard Organizations: Service, Business, Brand Management, Pride +, Council, Target, Pride Council, Christian Right, BI Locations: —

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