Retail return fraud is rising as consumers send back purchases in droves at CNBC. "Retailers expect 16.5%, or $24.5 billion worth, of holiday returns to be fraudulent this year, according to a survey by Appriss Retail and the National Retail Federation." Read more   Prisoners in the US are part of a hidden workforce linked to hundreds of popular food brands at AP. "The goods these prisoners produce wind up in the supply chains of a dizzying array of products found in most American kitchens, from Frosted Flakes cereal and Ball Park hot dogs to Gold Medal flour, Coca-Cola [...]

  Retailers Return to Bringing in Inventory ‘Just in Time’ at WSJ. "The ratio of inventories to sales at general-merchandise retailers, which tracks how much companies have in stock compared with what they sell, fell to 1.36 in November from a pandemic-era peak of 1.5 in August 2022, according to the Census Bureau. That compares with 1.33 in November 2019. “We’re basically right back in line with where we were in 2019, which I think is where folks want to be,” said Jason Miller, a logistics professor at Michigan State University." WSJ subs.   Macy’s could get takeover bid from buyout [...]

  The Labor Union That Defeated Amazon Is Fighting for Survival at WSJ. "The union’s financial position is one of its most pressing obstacles. The organization is “pretty much broke,” said Michelle Nieves, its vice president...The Amazon Labor Union’s momentum from its victory quickly faded. The group lost two subsequent votes at other Amazon warehouses and has failed to unionize another Amazon facility." WSJ subs.   Gucci owner pays nearly $1B to scoop up tower on red-haute Fifth Avenue at NY Post. "... it could mean the boot for rival fashion house Armani from its flagship location. Gucci’s parent Kering scooped [...]

  Target Announces Michael Fiddelke as Chief Operating Officer "Additionally, Target announced the upcoming retirement of chief legal and compliance officer Don Liu...Rick Gomez, currently Target's chief food & beverage officer, will oversee the retailer's frequency categories as chief food, essentials & beauty officer...Jill Sando, currently the retailer's chief merchandising officer, will oversee Target's discretionary categories as chief merchandising officer of apparel & accessories, home and hardlines." Press release   ...Five Questions with Michael Fiddelke "From a young age, my parents inspired both a strong work ethic and a taste for business. I grew up on a farm in Iowa. [...]

  Washington state sues to block proposed merger of Kroger and Albertsons grocery chains at AP. "In a statement Monday, Kroger said it was pushing back its timeline for closing the deal due to ongoing dialogue with regulators, including state attorneys general and the Federal Trade Commission. It now anticipates the closure may occur in the first half of its fiscal year, which ends in mid-August." Read more   Canada's December inflation rose 3.4% - dashes hopes of early rate cut at Reuters   De Beers’ slashes diamond prices by as much as 25% at NY Post. "The hefty price [...]

  Inflation rose 0.3% in December from the previous month, more than expected at Fox Business   Shipment rates soar 4x after Red Sea attacks: CEO at Yahoo Finance   Neiman Marcus CEO says there’s ‘no need’ to sell the business as Saks takeover rumors swirl at CNBC. "Some people close to the companies have told CNBC a merger between the two is inevitable, and is a matter of when, not if. But Neiman’s CEO Geoffroy van Raemdonck said there is currently “no process to sell the company.” Read more   H-E-B Holds Top Spot in dunnhumby's Annual Grocery Rankings [...]

  CES 2024: Everything revealed so far, from Nvidia and AI to Samsung’s Ballie robot at TechCrunch. "French startup Neoplants is showing off its progress with its houseplants that work as air purifiers designed for the home. The bio-engineered plants can, according to the company, replace 20 “regular” houseplants, as measured by how many pollutants the plants can remove from the air." Read more   ...CES 2024: all the TVs, laptops, smart home gear, and more from the show floor at The Verge   PepsiCo, Carrefour Bicker Over Who Dumped Whom at WSJ. "Regrettably, Carrefour has mischaracterized the chain of [...]

  Target Shoppers Are 'Getting Trampled' for a Limited Edition Valentine's Day Stanley Cup at People. "...released two Target-exclusive Quencher H2.0 FlowState Tumblers. The tumblers come in Cosmo Pink and Target Red and are a part of the brand's "Galentine's Collection."...Another video on TikTok filmed at a Target in Goodyear, Arizona explained that tumblers sold out in less than four minutes. The video showed people of all ages rushing to grab one from the store's display stand." Read more   Carrefour pulls PepsiCo products over price hikes at Reuters. "From Thursday, shelves for PepsiCo products at Carrefour stores in France, [...]