Consumer prices rose 0.2% in September, hotter than expected; annual rate increased 2.4% at CNBC. "Much of the inflation increase — more than three-quarter of the move higher — came from a 0.4% jump in food prices and a 0.2% gain in shelter costs, the Bureau of Labor Statistics said in the release. That offset a 1.9% fall in energy prices." Read more   Costco September comp sales (ex-gas & f/x) +8.9% : US +9.3% / Canada +6.3% / Int'l +9.6% / Ecom +22.9% "...comparable sales for the retail month of September benefitted by approximately two percent in the [...]

  Sam’s Club is opening a club in the Dallas area with no checkout lines at CNBC. "When shoppers walk into Sam’s Club’s newest store, they’ll soon see a shiny blue Mercedes-Benz SUV, a sectional sofa and zero checkout lanes...In the area typically reserved for cash registers, the company will display online-only items as wide-ranging as a 12-foot Christmas tree and a five-carat lab-grown diamond...“It’s kind of the physical manifestation of a journey we’re trying to go on as a company,” Sam’s Club CEO Chris Nicholas said, as he showed off the club before its grand opening." Read more   [...]

  2024 100 Most Powerful Women in Business (Lynch #2 / McLay #9 / Campbell #50 / Barry #58) at Fortune. "The list features women from six continents, 19 countries and territories, and 14 different industries, proving there is no one-size-fits-all approach to reaching the pinnacle of business." Read more | Press release   Sneak Peek of Prime Big Deal Days (Starting October 8th) Press Release   Ship queue grows at US ports at Reuters. "At least 45 container vessels that have been unable to unload had anchored up outside the strike-stricken East Coast and Gulf Coast ports by Wednesday, [...]

  A historic strike is underway at U.S. ports at CNBC. "Danish shipping giant Maersk has warned that just a one-week shutdown could take four to six weeks to recover from...” Read more   ...Can West Coast ports absorb East and Gulf Coast import volumes? at Fox News. "I don't think we're going to see a lot of re-routing. I do think that the ports on the West Coast are preparing for some increase in volume associated with that. But their ability to absorb nearly 50% of the import volume is not even a remote possibility," (EVP @ ASCM) Kent [...]

  The looming dockworkers strike is mostly up to 1 fiery union leader at Politico. "The decision to strike is largely in the hands of the mercurial and tough-as-nails head of the dockworkers union, Harold Daggett, a native New Yorker who’s been accused of having mob ties...The union’s constitution allows Daggett to call a strike without a vote of his members." Read more   ...Shippers scramble for workarounds ahead of looming US East Coast port strike at Reuters. "Ronnie Robinson, chief supply chain officer at DSW parent company Designer Brands, normally routes about 20% of the company's shoe imports through [...]

  DOJ poised to sue Visa for antitrust violations at Politico. "The DOJ plans to accuse Visa of using its dominant position in the debit card business to muscle out rivals with merchants and consumers, according to two of the people, who were granted anonymity to discuss a confidential matter." Read more   US Labor department reaches out to employer group amid possible port strike at Reuters. "The Department of Labor's involvement suggests that President Joe Biden's administration is willing to help hammer out a deal before the existing contract covering 45,000 workers at three dozen ports expires at midnight [...]

  Target names former PepsiCo exec Jim Lee as new chief financial officer at CBS News. "Lee has over 25 years of experience at PepsiCo, where he was most recently the company's deputy chief financial officer. He will succeed Michael Fiddelke, Target's chief operating officer." Read more   ...Get to Know Jim Lee, Target’s New CFO "Lee: 'I have three kids ranging in age from 12 to 17. All of them, along with my wife, are accomplished classical musicians. So, much of my free time is spent with them, driving them to different commitments related to their music. Outside of [...]

  August retail sales rose 0.1% vs. economists’ estimates for a 0.2% decline, according to Dow Jones. Excluding autos, the number also came in at a 0.1% increase, which slightly missed the 0.2% consensus forecast at CNBC   US retailer holiday hiring set to be lower than last year at Reuters. "Retailers are expected to add 520,000 new jobs in the final quarter of 2024 compared to 564,200 in 2023, according to the firm's analysis of non-seasonally adjusted data from the Bureau of Labor Statistics." Read more   Holiday shopping time:   ...Amazon to host its Prime Big Deals Day [...]