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☆ Target has around 75 Pride items in its collection right now. That's over 2,000 fewer than last year.
▼ + stars: | 2024-05-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Target has slashed its annual Pride collection after the retailer faced protests last summer. AdvertisementTarget's annual Pride collection is a shadow of its former self after the retailer faced protests from conservative groups last summer. Target's online Pride collection on May 28. For now, what previously had been the location of a front-of-store Pride display was instead occupied by a summer "Swim and Sand Shop." AdvertisementA Pride month display at a Target in Wisconsin last year.

Persons: it's, —, Target's, Dominick Reuter, Brian Cornell, we're, Brand Marketing Carlos Saavedra Organizations: Service, Business, Target, Brand Marketing Locations: Pride, California , New York, Wisconsin, Madison , Wisconsin

☆ Target is lowering prices and boosting its budget brands as it battles Walmart for shoppers on the hunt for deals
▼ + stars: | 2024-05-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Walmart has augmented its reputation for low prices with a number of Target-coded improvements such as refreshed stores, upscale product assortment, and smoother e-commerce options to see strong gains among higher-income shoppers. AdvertisementThe numbers indicate Walmart (among others) may be picking Target's pocket in terms of market share as inflation-weary consumers hunt for the best value for their dollar. Earlier this year, Target went after budget-minded buyers with a new line of essentials under the Dealworthy brand. Then late last month, Walmart took a shot at Target's Good & Gather-owned brand with an all-new upscale private label called Bettergoods.

Persons: —, Brian Cornell, Cornell, Christina Hennington, Target, Bettergoods, Hennington, We've Organizations: Service, Walmart, Business, Target Locations: Dealworthy

☆ Target comparable sales have dropped for 4 straight quarters, and it's scrambling to avoid a 5th
▼ + stars: | 2024-05-22 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTarget reported $24.5 billion in revenue last quarter, with comparable sales down 3.7%, marking the fourth consecutive quarter of decline. Unlike total sales, comparable sales exclude new and closed stores, and analysts commonly use the measure to assess a business' underlying health. AdvertisementThe company also revamped and expanded its membership program, Target Circle, adding over a million new shoppers last quarter. "We're encouraged by the meaningful progress we've seen in recent quarters," Cornell said.

Persons: —, Brian Cornell, Cornell, Jack children's, We're Organizations: Service, Business, Walmart, Amazon Prime, Target

☆ Walmart just opened two new Neighborhood Markets with a larger layout. Take a look.
▼ + stars: | 2024-05-21 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

The first two new stores in Walmart's 150-location plan have opened in Florida and Georgia. The Neighborhood Markets are almost 50 percent larger than Walmart's typical grocery-focused store. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe first two locations in Walmart's five-year, 150-store expansion plan have opened in Florida and Georgia. The pair of grocery-focused stores are the first new openings in Walmart's Neighborhood Market segment in more than four years.

Persons: — Organizations: Service, Business Locations: Florida, Georgia

☆ What Walmart's RTO mandate is really about
▼ + stars: | 2024-05-20 | by ( Dominick Reuter | Tim Paradis | ) www.businessinsider.com time to read: +7 min

Walmart's chief people officer, Donna Morris, commented similarly in a memo announcing the layoffs and relocations earlier that week. She wrote that working in an office would help workers collaborate, innovate, and "move even faster." Still, some employees continued working remotely, and several satellite offices remained open in cities like Atlanta, Dallas, Toronto, and Seattle. He also said he doesn't think the company is using this RTO mandate as a cover for achieving cost savings through workforce reductions, commonly referred to as "quiet firing," but that it's more part of Walmart's ethos. For the remote worker BI spoke with, the next few weeks will be filled with uncertainty.

Persons: —, it's, Sam Walton, Nelson Lichtenstein, Doug McMillon, Donna Morris, Morris, Suresh Kumar, Walmart's, Kumar, Kelli Oakes, she'd, I'm, Oakes, Lichtenstein, there's, Gartner Organizations: Service, Walmart, Business, University of California, Executives, BI, Home, LinkedIn, Walmart Global Tech, Sam's Club, UC Locations: Arkansas, Bentonville , Arkansas, New York, San Francisco, Santa Barbara, Bentonville, Atlanta, Dallas, Toronto, Seattle, Bay, Hoboken , New Jersey, South Carolina, Northwest Arkansas

☆ Target's Pride looks a lot different after last year's backlash — and some LGBTQ+ insiders are disappointed
▼ + stars: | 2024-05-18 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +7 min

Read previewOn Tuesday, 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. Last year, Pride products had already been on sale online for weeks by mid-May, and each of the retailer's nearly 2,000 US stores was busy setting up displays near their front entrances. 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, Eager, 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: —

☆ Walmart is finding its groove — and that should terrify Target
▼ + stars: | 2024-05-17 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Walmart keeps posting strong earnings, driven in part by gains among higher-income shoppers. Bit by bit, Walmart is looking more like Target, and that should terrify the smaller rival. 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 . The Bentonville retailer on Thursday reported a solid 6% year-over-year improvement in first-quarter sales, with profits growing even faster.

Persons: —, Doug McMillon Organizations: Walmart, Service, Business Locations: Bentonville

☆ Uber wants to conquer the suburbs and it's starting with Costco
▼ + stars: | 2024-05-16 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Uber is offering new perks for Costco lovers as it looks to expand into the suburbs. Members and non-members can now shop Costco on Uber Eats for delivery of groceries and more. AdvertisementAs Uber looks to expand its reach beyond cities, the company is forging an alliance with the veritable king of suburbia: Costco. The ride-hailing and delivery service on Wednesday announced a new partnership with the wholesale club that will bring Costco groceries and merchandise to customers via Uber Eats. This story is available exclusively to Business Insider subscribers.

Persons: —, Dara Khosrowshahi Organizations: Costco, Uber, Service, CNBC, Wednesday, Business

☆ Careers site Indeed to lay off 1,000 workers
▼ + stars: | 2024-05-13 | by ( Dominick Reuter | Alyshia Hull | ) www.businessinsider.com time to read: +2 min

Careers site Indeed will lay off roughly 1,000 employees, or 8% of its workforce. In a memo, CEO Chris Hyams said the company is profitable, but not set up for sustainable growth. Hyams said the cuts are more targeted than last year's across-the-board reduction of 2,200 workers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCareers site Indeed says it will lay off roughly 1,000 employees as it looks to simplify its organization.

Persons: Chris Hyams, Hyams, —, Mark Zuckerberg's, " Hyams Organizations: Service, Business, Market, Facebook, Meta

☆ Walmart CEO Doug McMillon shares 3 tips for success in work and life
▼ + stars: | 2024-05-13 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +7 min

Read previewWalmart CEO Doug McMillon returned this weekend to his alma mater, the University of Arkansas, where he delivered the commencement address to the class of 2024. McMillon also revealed how some plans didn't work out — like being rejected from the top MBA programs — and how a mistake could have ended his career before it began. I'm wired to think more about what's coming next than the moment right in front of me. AdvertisementMy second piece of advice is to pursue a career that does not feel like work. If you're in the right place, most days, work won't even feel like work.

Persons: —, Doug McMillon, McMillon, Doug McMillon's, I've, Jim Webster, Jim, Wharton, Shelly, they're, Sam Walton's, Helen, it's, you've, Benny Bridwell, Benny, Bryan Adams Organizations: Service, University of Arkansas, Business, Harvard, Stanford, Walmart Locations: Arkansas, USA, South Africa, Rogers

☆ Read the email Target sent employees about changes to its Pride collection after 'challenging' last year
▼ + stars: | 2024-05-10 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

"As we all know, last year was challenging, and we've made some changes this year," the note said. On Friday, Target confirmed it will reduce the number of stores that carry its assortment of LGBTQ+ merchandise for Pride month in June. The company said it will offer a collection online and certain stores "based on historical sales performance." AdvertisementRead the email from Target to the LGBTQ+ employee group:Pride+ community,As you know, team members across Target have been working on our Pride 2024 plans for months. As we all know, last year was challenging, and we've made some changes this year based on guest insights and sales trends.

Persons: we've, —, Brand Marketing Carlos Saavedra, Saavedra, you'd, Ann, Jeff, Carlos Organizations: Service, Business, Bloomberg, Target, Brand Marketing, Pride Locations: Minneapolis , New York City

☆ LA Sheriff says it busted a retail crime ring with millions of dollars of stolen medication and personal care products
▼ + stars: | 2024-05-08 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

LA County Sheriff's Department says it arrested eight suspects in an organized retail crime ring. Officials say the crew targeted retail chains in three states and sold stolen merchandise online. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe Los Angeles County Sheriff's Department said it has arrested eight people in connection with an organized crime ring that stole millions of dollars worth of products from retailers in the region. Officials said on March 3 that the recovered merchandise included cosmetics, over-the-counter medication, and hygiene products, which had been stolen from retailers in Nevada, Arizona, and California.

Persons: — Organizations: Sheriff's Department, Service, Angeles County Sheriff's Department, Business Locations: Angeles, Nevada , Arizona, California

☆ Reddit shares soar after company reports strong first-ever earnings with record user traffic
▼ + stars: | 2024-05-07 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Reddit beat expectations for its first financial quarter as a publicly traded company. Strong revenue growth and record user traffic sent the stock price up 16% in after-hours trading. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The company also boasted a record 82.7 million daily active users, up 37% from the year before. "We see this as the beginning of a new chapter as we work towards building the next generation of Reddit."

Persons: —, Reddit, Steve Huffman Organizations: Service, Business

☆ California is considering new limits on self-checkout lanes
▼ + stars: | 2024-05-07 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

California's Senate is considering a bill that would change how retailers run self-checkout. The rule would prohibit retailers from offering self-checkout unless several conditions are met. AdvertisementThe California legislature is considering a proposal that would bring significant changes to the self-checkout lanes in the state. Self-checkout lanes would be limited to 10 items or fewer. A single worker may only be assigned to monitor two self-checkout stations, and they must have no other responsibilities during that time.

Persons: —, Bill, Lola Smallwood, Cuevas, Cristine Soto DeBerry Organizations: Service, Bay Area NBC, Prosecutors Alliance of California, Bay Area ABC, ABC7, Walmart, Target, Costco Locations: California's, California

☆ Meet Delphine Arnault, Dior CEO and daughter of world's richest man
▼ + stars: | 2024-05-06 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Delphine Arnault, eldest child of LVMH head Bernard Arnault, is the CEO of Christian Dior. Apart from a brief stint at McKinsey, her career has spanned multiple roles for LVMH since 2000. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The eldest daughter of the world's richest man, LVMH CEO Bernard Arnault, the 49-year-old Delphine is now a year into her role as CEO of Dior. Since 2000, her career has spanned multiple roles with LVMH, including CEO of Dior since 2023.

Persons: Delphine Arnault, LVMH, Bernard Arnault, Christian Dior, Louis Vuitton, —, Delphine, Delphine Arnault's Organizations: McKinsey, TAG, Service, Dior Locations: Berluti

☆ I visited Walmart and found over 25 products that show how the retail giant is trying to win over wealthier customers
▼ + stars: | 2024-05-06 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

However, the retailer plans to stock more premium items to attract wealthier shoppers. I visited Walmart to see which fancy brands and products it already carries. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The Bentonville-based retail giant's primary focus since day one has been to drive down costs and offer rock-bottom prices. Before the new products hit shelves, I visited my local Supercenter to see what premium items the retailer already carries.

Persons: — Organizations: Walmart, Service Locations: Walmart's, Bentonville

☆ I visited Walmart and saw more than 25 premium items you might not expect to find there
▼ + stars: | 2024-05-05 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

However, the retailer plans to stock more premium items to attract wealthier shoppers. I visited Walmart to see which fancy brands and products it already carries. NEW LOOK 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 . Before the new products hit shelves, I visited my local Supercenter to see what premium items the retailer already carries.

Persons: — Organizations: Walmart, Service Locations: Walmart's, Bentonville

☆ How the US became hooked on sports betting – and the cost it’s having on lives
▼ + stars: | 2024-05-03 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +11 min

“I noticed all my memories were really gambling related,” Malek explains to CNN Sport. So right where the AGA and the National Council for Problem Gambling is located – the nation’s capital – they abolished all public funds for problem gambling,” adds Whyte. Ramon Zelaya, the moderator of Reddit’s problem gambling forum, concurs. “I think the pace of innovation right now, particularly as it relates to fan engagement and betting, and in play betting and live betting will continue to increase,” said Maloney. Reportedly there were two specific games in which DraftKings Sportsbook flagged prop bets involving Porter in its daily betting insights.

Persons: CNN —, Saul Malek, he’d, “, ” Malek, I’d, Malek, ”, Michael Reaves, Getty, Dominick Reuter, Joe Maloney, ” Maloney, ” Keith Whyte, Maloney, “ We’re, Al Bello, Whyte, “ We’ve, LeBron James ’, DraftKings, you’re, Greg Olsen, Jared C, Tilton, Adam Silver, Silver, Ramon Zelaya, ” Zelaya, “ I’ve, Sportradar, expained, Candice Ward, Reuters Maloney, Jontay Porter, Porter, “ It’s, Brian Sevald Organizations: CNN, CNN Sport, Gamblers Anonymous, Saturday’s Kentucky Derby, Kentucky Derby, Supreme, District of Columbia, Super, American Gaming, Monmouth, Getty, “, Republicans, National Council, Belmont Park, ESPN, NCAA, NFL, NASCAR Hall of Fame, NBA, Reuters, Sporting, Toronto Raptors Locations: Saturday’s, Churchill, Nevada, Monmouth, Oceanport , New Jersey, AFP, America, New York, Belmont, District, –, North Carolina

☆ Costco members can save $1,000 or more on an EV from GM, Volvo, or Polestar this summer
▼ + stars: | 2024-05-02 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

This summer, the wholesale club is swinging big with $1,000 or more off EVs from four brands. There is one catch though: the deal is only available to people who were Costco members as of April 30. AdvertisementOne of the under-appreciated perks of a Costco membership is big savings on new cars. This summer, Costco is swinging big with $1,000 or more off EVs from four brands. From now until July 31, Costco members can take $1,000 off the price of a Cadillac Lyriq, Chevy Equinox EV, Chevy Blazer EV, Volvo C40 Recharge, or Volvo XC40 Recharge.

Persons: — Organizations: Costco, Service, haggling, EV, Blazer EV, Volvo

☆ Starbucks says mornings are so busy that one in 8 mobile customers are abandoning orders
▼ + stars: | 2024-05-01 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The company said a mid-teens percent of mobile customers abandon their carts due to long wait times. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Related storiesNarasimhan said on the company's earnings call that nearly two-thirds of Starbucks' morning business in the US is from rewards members using the mobile app, which has yielded a remarkable insight. "In other words, customers using Mobile Order-Pay put items into their carts and sometimes chose not to complete the order, citing long wait times and product unavailability." That works out to more than one in eight mobile order customers opting not to buy a menu item they were otherwise interested in — a hefty chunk of cash left on the table for Starbucks.

Persons: —, Laxman Narasimhan, Narasimhan Organizations: Starbucks, Service, Mobile Locations: Seattle

☆ Sam's Club says getting rid of physical receipt checks at the door has been a big success
▼ + stars: | 2024-04-30 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Sam's Club's new AI-powered purchase verification tech is now in more than 120 locations across the US. The Walmart-owned warehouse club says it has helped get shoppers out the door 23% faster. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementSam's Club's new verification tech, which ditches physical receipt checks for an AI-powered scan of shoppers' carts, has now been rolled out to more than 120 locations across the US. This story is available exclusively to Business Insider subscribers.

Persons: Sam's, — Organizations: Walmart, Amazon, Service, Business

☆ Walmart is shuttering all its 51 health centers and ending virtual care services as Amazon leans into the space
▼ + stars: | 2024-04-30 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Walmart will shut down the health clinics it has at 51 stores across five states. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWalmart says it will shut down the 51 health clinics it has at retail stores across five states, as well as its virtual care operation as the business has become "unsustainable." AdvertisementStaffed by physicians and licensed care providers, the clinics offered services ranging from primary care to behavioral health, as well as labs and X-rays. Virtual care was also available through walmarthealth.com.

Persons: —, Walgreens Organizations: Walmart, Service, Dallas Morning News, CNBC, Dallas Morning, Amazon Locations: Georgia, Arkansas , Florida , Illinois, Texas

☆ Target's CEO made 719 times the median employee's pay last year
▼ + stars: | 2024-04-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Target CEO Brian Cornell received total compensation of $19.2 million last year. The median compensation for associates was $26,696, according to Target's annual proxy statement. Cornell's pay is behind Walmart CEO Doug McMillon and ahead of former Costco CEO Craig Jelinek. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The pay package consisted of $1.4 million in base salary, $14.7 million in stock awards, and about $3.1 million in other compensation.

Persons: Brian Cornell, Doug McMillon, Craig Jelinek, —, Cornell, Doug McMillon's, Dominick Reuter Organizations: Walmart, Costco, Service, SEC, Business Locations: New York

☆ 3 things Costco shoppers should know before buying gold bars
▼ + stars: | 2024-04-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Costco sells an estimated $200 million worth of gold and silver bars per month. Gold expert Taylor Huff says with the popularity, some buyers might not know what to expect. Huff recommended three things Costco shoppers should keep in mind when buying gold. Each new batch of gold bars sells out "within a few hours" of being released for a small mark-up over its spot price. This story is available exclusively to Business Insider subscribers.

Persons: Taylor Huff, Huff, — Organizations: Costco, Service, Street Journal, Business

☆ Walmart heir Rob Walton is stepping down from the retailer's board after four decades
▼ + stars: | 2024-04-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Rob Walton, eldest son of Walmart founder Sam Walton, is stepping down from the company's board. He first joined Walmart in 1969 and has served on the board for more than 40 years. The company said Walton "helped shape some of the most important moments in Walmart history." AdvertisementRob Walton, eldest son of Walmart founder Sam Walton's three children, is stepping down from the company's board of directors in June. Even in retirement, Walton will have significant influence over Walmart through his co-ownership of Walton Enterprises, which is the largest holder of Walmart stock.

Persons: Rob Walton, Sam Walton, Walton, —, Sam Walton's, Sam, Greg Penner Organizations: Walmart, Service, Walton Enterprises, Bloomberg

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