Best Buy Q2 comp sales -2.3% (vs. expected -3.2%) Press release

 

…Best Buy lifts annual profit forecast as tighter cost controls pay off at Reuters. “We see a consumer who is seeking value and sales events, and one who is also willing to spend on high-price-point products when they need to, or when there is new compelling technology,” Chief Executive Officer Corie Barry said.” Read more

 

Dollar General Q2 comp sales +0.5% “While we believe the softer sales trends are partially attributable to a core customer who feels financially constrained, we know the importance of controlling what we can control…we are taking decisive action to further enhance our value and convenience offering…” Press release

 

…Dollar General shares crater 20% as retailer cuts outlook, blaming ‘financially constrained’ customers at CNBC. “The company now expects fiscal 2024 same-store sales to be up 1.0% to 1.6%, lower than prior outlook for a 2% to 2.7% increase. Earnings per share for the year is expected to be in the range of just $5.50 to $6.20, versus the prior forecast of $6.80 to $7.55 per share.” Read more

 

Dick’s Sporting Goods discloses unauthorized third-party access to information at Reuters. “Dick’s Sporting Goods said on Wednesday it discovered last week that an unauthorized third party had access to its information systems, including certain confidential data.” Read more

 

Kohl’s Q2 comp sales -5.1% Press release

 

Kroger says new Houston Hispanic concept is success. So what happens next? at Chron. “Kroger is expected to expand its Hispanic concept throughout Greater Houston…also plans to increase Hispanic products throughout local stores. These plans, representatives said, reflect a multi-million dollar investment into the Houston market.” Read more

 

Chewy Q2 net sales +2.6% Press release

 

***A message from Su Salsa: Put the lime in the dip – not the chip! Su Salsa Mild salsa has a hint of lime and cilantro flavor with a kick of jalapeno at the end. Selling deck | Request sample: info@eyeonretail.net

 

Fred Meyer employees walk off the job in Portland and onto the picket line at KATU 2

 

Kroger employee saves co-worker’s life on first day at Fox 4 “On Wednesday, the two men met officially for the first time. Kroger also presented Condon with a life-saving award…”It’s a humbling kind of feeling. I’m so grateful, and everyone has been so supportive around me. It’s also not something to brag about, either,” he said.” Video/Read more

 

Foot Locker will relocate its global headquarters from New York City to St. Petersburg at WFLA

 

…Foot Locker to open new tech hub in Dallas at WFAA

 

Schnucks Announces New Chief Merchant and New Chief Growth Officer “Kim Gray will lead the company’s Merchandising team as Chief Merchant, succeeding Ryan Cuba, who will become the company’s first Chief Growth Officer.” Press release

 

Amazon Wields New Influence in TV’s Upfront Sales Haggle Through Massive Media Account Review at Variety

 

Claw machine games are Rio de Janeiro’s new public enemy at AP

 

Abercrombie & Fitch shares plunge 17% as CEO warns of ‘increasingly uncertain environment’ ahead at NY Post. “Abercrombie’s revenue spiked 21% during the second quarter…” Read more

 

Walmart to Offer Logistics Outside Its Own Marketplace Sales at WSJ. “…third-party sellers will soon be able to use Walmart’s warehousing, delivery and returns services to fill orders placed on platforms beyond Walmart’s website, including Target, Etsy and even Amazon…(will) handle imports on behalf of merchants from ports of origin in Asia to Walmart’s U.S. distribution centers, and will offer sellers access to less-than-truckload and full-truckload shipments at discounted rates.” WSJ subs.

 

Tractor Supply Names 2024 Top Vendor Partners Press release