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 no longer afford to make his weekly shopping trip to Whole Foods. Instead, he found a creative alternative: driving 30 minutes away to a Mennonite-owned bulk goods grocery store in rural Iowa.” Read more

 

Shoe Carnival Q1 net sales +6.8% Press release

 

Germany backs ending EU tax break that helps Shein and Temu keep prices low at Reuters. “Under current EU regulations, packages purchased online from a non-EU country are not subject to customs duties if their value is under 150 euros ($163).” Read more

 

VF Corp Q4 revenue -13%; The North Face down 5% / Vans down 26% Press release

 

The rise of Bruce Nordstrom, who once swept the floors of his grandfather’s shoe stores for 25 cents an hour at Fortune/Yahoo. “In those days, that wasn’t bad money,” he told the University of Washington’s alumni magazine in 2010. Nordstrom was promoted to shoe salesman at the age of 14. He then followed the path of so many of his male relatives: graduating from University of Washington in 1955 after rowing for the crew team…” Read more

 

TJX Companies, Inc. comp sales +3.0% Press release

 

One in five Canadians boycotting Loblaw, most feel food prices getting worse: poll at Financial Post. “Urban residents polled by Leger were more likely to say they support the boycott than suburban and rural residents, and were more likely to be participating in it as well.” Read more

 

Target Q1 comp sales -3.7% Press release

 

…Target ‘cautious’ on near-term growth outlook at Fox Business. “Target Chief Growth Officer Christina Hennington told analysts on an earnings call that one in three Americans “maxed out or is nearing the limit on at least one of their credit cards.” Read more

 

Acosta to Acquire CROSSMARK and Product Connections Press release

 

How Soda, Chocolate and Chewing Gum Are Funding War in Sudan at WSJ. “…Jaber says gum arabic traders also hand over between $60 and $100 to AK-47-toting RSF fighters, who accompany the convoys of traders in pickup trucks. Traders who refuse to pay risk losing their cargo and vehicles to militia, he says. Around 80% of the world’s gum arabic is harvested from Sudan’s acacia trees…” WSJ subs.

 

United Natural Foods Extends Partnership with Whole Foods to 2032 Press release

 

1,000 Shoppers Tell All on Walmart’s New Brand at Field Agent. “So, what’s the bottom line? Will consumers choose bettergoods in their future grocery carts? The resounding answer from shoppers is “probably,” with very few shoppers (9%) saying probably or definitely not.” Read more

 

Google Pay will now display card perks, BNPL options and more at TechCrunch