Wholesale prices unexpectedly fell 0.2% in May at CNBC   Fast fashion retailer Shein hikes prices ahead of IPO at Reuters. "...has hiked prices by over a third on some core products, in a move likely to boost revenues ahead of its planned IPO, according to an analysis of its pricing strategy. Shein's average price hikes exceeded those of its rivals H&M, and Zara, according to data from London-based research firm EDITED..."  Read more   Casey's General Store Q4 net income +55% / inside comp sales +5.6% / stock up about 16% Press release   ‘We’re not backing down’: [...]

  Baltimore key shipping channel fully reopens after Francis Scott Key Bridge collapse at CNBC. "The Port of Baltimore processed a record 1.1 million containers and $80.8 billion in foreign cargo value last year, according to state data. Six highway construction crew members who were carrying out overnight road work plunged to their deaths during the incident." Read more   Buc-ee's opens doors to largest store in country at USA Today. "...scheduled to open at 6 a.m. local time Monday...Spread over 75,000 square feet, the new Buc-ee’s in Luling (TX) is "the largest Buc-ee’s location in the country." Read more [...]

  No-tariff shipments popular with Shein, Temu hit US customs speedbump at Reuters. "U.S. Customs and Border Protection announced late last week it suspended "multiple" brokers from an expedited clearance program for those duty-free, direct-to-consumer imports partly over concerns that contraband was being brought into the country this way. While the agency did not specify a number, customs experts they were aware of up to six suspended companies." Read more   Costco May comp sales +6.4% Press release   Costco plans to stop selling books year-round at NY Times/Seattle Times. "Beginning in January, the company will stop stocking books regularly, [...]

  Walmart CEO Doug McMillon keeps fending off Amazon for the top spot on the Fortune 500. Can he and the mega-retailer continue their streak? at Fortune/Yahoo. "On an April morning at Walmart’s headquarters, Doug McMillon was getting the Ryan Gosling treatment. The occasion was a meeting to celebrate about 150 of Walmart’s long-tenured employees; the giant retailer holds a few such gatherings every year at its campus in Bentonville, Ark...But McMillon was the one being mobbed like a movie star, as coworkers rushed up to ask for autographs or get a selfie with their photogenic CEO." Read more   Sam's [...]

  Best Buy Q1 comp sales down 6.1% Press release   ...Best Buy posts another quarter of sluggish consumer electronics demand at CNBC. "Barry said...the quarter was more promotional than expected in both the number of deals and size of discounts, with especially high promotions in certain categories like major appliances." Read more   Kohl's Q1 comp sales down 4.4% Press release   ...Kohl's shares crater on surprise quarterly loss, annual forecast cut at Reuters. "Kohl's has been too reliant on other brands such as Sephora, Amazon, and now Babies R Us to drive traffic rather than distinguishing its core [...]

  The cult of Costco: How one of America’s biggest retailers methodically turns casual shoppers into fanatics at Fortune/Yahoo. "The most important item we sell is the membership card,” says Ron Vachris, Costco’s new CEO as of Jan. 1....Gersch (consultant), challenged Fortune to clock how long a piece of clothing would remain unfolded after a shopper tossed it back onto a pile. Sure enough, in Fortune’s multiple observations, it rarely took more than two minutes before a store worker swooped in to neaten up." Read more   Walmart, Capital One end exclusive consumer credit card agreement at Fox Business. "In [...]

  BJ's Q1 comp sales (ex-gas) +0.6% "Digitally enabled comparable sales growth was 21.0% year-over-year. Membership fee income increased by 8.6% year-over-year to $111.4 million." Press release   Williams-Sonoma, Inc. Q1 comp brand revenue -4.9% "We are reiterating our guidance of annual net revenue growth in the range of -3% to +3% with comps in the range of -4.5% to +1.5% in fiscal 2024." Press release   Grocers are finally lowering prices as consumers pull back at Washington Post/Microsoft. "Wyatt Williams of Iowa City says higher prices forced him to make changes starting in 2022...The 39-year-old writer and professor could [...]

  Lowe's Q1 comp sales down 4.1% Press release   ...Lowe’s beats on earnings and revenue, even as consumers spend less on DIY projects at CNBC. "Lowe’s stuck by its full-year forecast. It said it expects total sales of between $84 billion and $85 billion, which would be a drop from $86.38 billion in fiscal 2023...Ellison said gains with pros and online sales growth helped to partially offset a decline in do-it-yourself spending." Read more   Macy's, Inc. Q1 net sales down 2.7% Press release   ...Macy's lifts annual profit forecast as new CEO's revamp takes root at Reuters. "I'm [...]