Inside the organized crime rings plaguing retailers including Ulta, T.J. Maxx and Walgreens at CNBC. "These organized theft groups don’t typically carry out the splashy “smash and grab” robberies seen in viral videos. Instead, they pilfer goods quickly, quietly and efficiently...CNBC has spent about eight months embedding with various law enforcement agencies and investigating theft groups to understand what organized retail crime looks like from the ground." Read more   ....Ulta CEO says e-commerce sites can do more to stop the sale of stolen goods "We shouldn’t have an environment where it’s possible to steal from one retailer and [...]

  Inside the organized crime rings plaguing retailers including Ulta, T.J. Maxx and Walgreens at CNBC. "These organized theft groups don’t typically carry out the splashy “smash and grab” robberies seen in viral videos. Instead, they pilfer goods quickly, quietly and efficiently...CNBC has spent about eight months embedding with various law enforcement agencies and investigating theft groups to understand what organized retail crime looks like from the ground." Read more   ....Ulta CEO says e-commerce sites can do more to stop the sale of stolen goods "We shouldn’t have an environment where it’s possible to steal from one retailer and [...]

  Kroger Q4 identical sales (ex-gas) down 0.8% Press release   BJ's Wholesale Q4 comps up 0.5% (ex-gas) Press release   ...BJ's to enter 21st state @ KY   Newsweek: America's Greatest Workplaces for Women 2024 (Home Depot, Wegmans, Bath & Body Works...) "These 1,000 U.S.-based companies ranked highest when evaluated on metrics including compensation, work-life balance and proactive management on diversity." List   Duluth Trading Q4 net sales up 1.6% / Retail store net sales decreased by 12.2% Press release   Temu’s Push Into America Pays Off Big Time for Meta and Google at WSJ. "Temu, spent nearly $2 billion on advertisements [...]

  Target Q4 comp sales down 4.4% Press release   ...Target is launching a paid membership program, Target Circle 360 at CNBC. "...will include unlimited free same-day delivery for orders over $35 in as little as one hour with no delivery fees and two free-day shipping, along with other perks. The paid membership tier will launch in early April and cost $49 per year, said Cara Sylvester, Target’s chief guest experience officer." Read more   ...Target shares pop as retailer boosts profits, despite lackluster sales forecast at CNBC. "In an interview Tuesday with CNBC’s “Squawk Box,” CEO Brian Cornell said [...]

  Best Buy Q4 comp sales down 4.8% "Bilunas (CFO): “For Q1 FY25, we expect comparable sales to decline by approximately 5% and our non-GAAP operating income rate to be approximately 3.4%, which is flat to Q1 FY24.” Press release   ...Best Buy tops holiday quarter estimates but issues soft full-year guidance at CNBC. "Q4: Earnings per share: $2.72, adjusted vs. $2.52 expected. Revenue: $14.65 billion vs. $14.56 billion expected." Read more   Walmart Computer Glitch Halts Sales and Returns at Stores at WSJ. "The outage began to affect stores Wednesday morning, rendering some registers inoperable, according to store workers [...]

  Lowe's Q4 comp sales down 6.2% Press release   ...Lowe’s beats earnings estimates - company expects revenue to slide again this year at CNBC. "Q4: Earnings per share: $1.77 vs. $1.68 expected. Revenue: $18.60 billion vs. $18.45 billion expected." Read more   US sues to block merger of Kroger and Albertsons at AP News. "Together, Kroger and Albertsons would control around 13% of the U.S. grocery market; Walmart controls 22%, according to J.P. Morgan analyst Ken Goldman." Press release   ...The FTC’s Grocery Gift to Walmart and Amazon at WSJ. "FTC Chair Lina Khan rewrote the FTC’s longstanding merger [...]

  Existing home sales rose 3% to start the year at CNBC. "The 32% all-cash share was up from 29% in both December and in January 2022. First-time buyers made up just 28% of sales. Historically they make up about 40%." Read more   FTC, states could sue over Kroger-Albertsons $24.6 bln deal next week at Bloomberg/Reuters. "An agreement to not close the deal between the FTC and the two companies expires on Feb. 28, and the report said a lawsuit to block the deal is expected before that." Read more   Chicago City Council approves new restrictions on dollar stores [...]

  Walmart Q4 Comp Sales (ex-fuel): Walmart U.S. +4.0% / Sam's Club +3.1% Walmart Int'l Q4 net sales +13% Global eCommerce sales grew 23% Global adv business grew ~ 33%, including 22% for Walmart Connect in the U.S. Press release   Walmart to buy TV maker Vizio for $2.3 billion in move to grow its ad business at CNBC. "Walmart’s control of the Vizio platform will give companies that advertise with the retailer a greater reach. In a news release, Walmart said Vizio’s SmartCast system has 18 million active accounts." Read more   Home Depot Q4 U.S. comp sales down [...]