Walmart Q2 comp sales (ex-fuel) +4.6% (vs. expected +4%) / Sam’s Club +5.9% (vs. expected +5.2%) at CNBC. “CFO, John David Rainey: “There are certainly areas where we have fully absorbed the impact of higher tariff costs. There are other areas where we’ve had to pass some of those costs along.” But he added “tariff-impacted costs are continuing to drift upwards.” Even so, Rainey said Walmart hasn’t seen a change in customer spending. For example, sales of private label items, which typically cost less than national brands, were roughly flat year over year, he said.” Read more | Press release

 

…Walmart hikes annual forecast as low price focus draws shoppers at Reuters/Yahoo. “Walmart raised its full-year sales forecast. Walmart expects annual sales to grow in the range of 3.75% to 4.75%, compared to its prior forecast of a 3% to 4% increase. Adjusted earnings per share are expected in the range of $2.52 to $2.62, compared to its previous range of $2.50 to $2.60.” Read more

 

Target’s Fiddelke Lists 3 Priorities at CNBC. “Reestablishing Target’s reputation as a retailer with stylish and unique items, providing a more consistent customer experience and using technology more effectively to operate an efficient business.” Read more

 

…Target’s next CEO started as an intern—and rose up the ranks over 22 years at CNBC

 

These New Parents Give Us an Unvarnished Look at How They Spend Their Money at WSJ. “Spoiler: None of them said having a baby was cheaper than they expected. Americans would have to spend $20,745 to buy a basket of goods and services commonly used in a baby’s first year, versus $15,775 for a similar basket in 2022, according to BabyCenter, a parenting website.” WSJ subs.

 

These Moms Want to Design Your Dorm Room at NY Times. “Think of them as a subset of momfluencers, women who post about being mothers online, often to make money. They are tapping into the lucrative business of college life…” NY Times subs.

 

Cracker Barrel Logo Change Sparks Fury at Newsweek

 

Bed Bath & Beyond’s Executive Chairman Marcus Lemonis announces that the company won’t open or operate retail stores in California at Fox Business

 

Longtime CEO who steered WinCo to employee ownership dies at BoiseDev. “Bill Long joined the company, then known as Waremart, as a store manager in 1968, when it had a single store on the Boise Bench. Long became president in 1978, and transitioned to Chairman and CEO in 1985.” Read more

 

Labubu could make $1B this year at TechCrunch

 

Heard on Target’s Q2 Earnings Call…

Incoming CEO Fiddelke:

• I’ve established three key priorities…
  • …first, we must reestablish our merchandising authority in a way that is distinctly Target
  • Second, we’re a retailer that believes that an elevated experience is every bit as important as product.
  • …third, we must more fully use technology to improve our speed, guest experience, and efficiency throughout the business.
• …while we still believe in the flexibility of a hybrid workplace, we’ve set the expectation that our teams should be working in person more often.
• …we’re already well underway in building Fun 101, our name for the transformation within our hardlines categories.

Gomez:

• Q2 comp sales were down 1.9% / Digital channel…comp sales grew 4.3%
• Fun 101: our updated approach to bringing greater style and cultural relevance to our hardlines assortment (drove) growth of more than 5% in Q2, our strongest quarterly comp in this category since 2021.
• …trading card sales are up nearly 70% year to date…
• Food and beverage categories grew slightly / Beauty sales were down slightly
• Full transcript @ Investing dotcom

 

Heard on Lowe’s Q2 Earnings Call…

• Monthly comps were down 1% in May, up 0.3% in June and up 4.7% in July
• Q2 comp average ticket increased 2.9% and comp transactions declined 1.8%
• …roughly 60% of the goods we source are coming out of the US…and China’s at 20%
• Positive comps in nine of our 14 merchandise divisions
• Positive comps in Hardware, Lawn and Garden and Tools…(and) in lawn and garden
• Strong performance in power tools and tool storage
• Positive comps across building materials, rough plumbing and lumber…seeing continuing momentum in repair and maintenance projects
• In Home Decor, we delivered positive comps in paint, flooring and appliances
• One of the most compelling aspects of the FBM acquisition is a strategic presence in key geographies such as California, the Northeast, and the Midwest, regions where we currently have less of a presence.
• Full transcript @ Investing dotcom

 

Lowe’s Q2 comp sales +1.1% Press Release

…Lowe’s acquires Foundation Building Materials (FBM) for ~$8.8 billion Press release

 

**Get your product, service or event in front of the most powerful decision-makers in the retail community. Contact: info@eyeonretail.net