Kamala Harris will propose the first-ever federal ban on “corporate price-gouging” in the food industry at CNBC. “…she will direct her administration to increase scrutiny of potential mergers between large supermarkets and food producers…On Friday, Harris will single out the meat industry, saying that “soaring meat prices have accounted for a large part of Americans’ higher grocery bills, even as meat processing companies registered record-breaking profits following the pandemic” Read more

 

Walmart U.S. comp +4.2% / Sam’s Club comp +5.2% Press release

 

…Walmart beats estimates, raises outlook at CNBC. “CFO John David Rainey said…Walmart has not noticed a shift in consumer behavior. He said every month of the quarter was “relatively consistent” and the back-to-school season “is off to a pretty good start.” …Sales of general merchandise, such as lawn and garden supplies, were positive for the first time in 11 quarters.” Read more

 

US retail sales rise more than expected in July at Reuters. “Retail sales increased 1.0% last month after a downwardly revised 0.2% drop in June…Economists polled by Reuters had forecast retail sales…advancing 0.3%…” Read more

 

Dillard’s Q2 comp sales down 3% Press release

 

Berkshire invests in Ulta Beauty at Reuters. “Berkshire owned about 690,000 Ulta Beauty shares worth $266.3 million…as of June 30. Ulta Beauty shares soared 14%…in after-hours trading…” Read more

 

Whole Foods Market’s CEO grocery shops at least 14 times a week, even on vacation at Fortune/Yahoo. “The 46-year-old gave Fortune an exclusive glimpse into his daily routine, consisting of a “minimum of 10 meetings per day,” six-mile runs, and twice-daily trips to Whole Foods Market. Between meetings, Buechel noshes on creations from Whole Foods Market’s salad bar and loves to experiment with new recipes from products he picks up around the store.” Read more

 

After years of secrecy, Bay Area mall announces massive Tokyo Central grocery store at SF Gate

 

Alibaba Revenue Misses Estimates in a Blow to Revival Effort at Yahoo Finance. “Alibaba Group Holding Ltd. posted a disappointing 4% rise in revenue, after aggressive promotions failed to drive spending in an anemic Chinese consumer environment.” Read more

 

Dollar General adds Best Buy exec to its Board Press release

 

Just a handful of Canadian cities will be subject to the Costco membership crackdown — for now at CBC. “The scanners…are set up at Costco warehouse entrances in Ottawa, Edmonton, Regina and B.C.’s Lower Mainland…The new system will be expanded to other stores.” Read more

 

Another H-E-B to anchor mixed-use development coming to Allen, TX at WFAA

 

Access plans health clinics in Walmarts at NWA Online. “A medical practice based in Arkansas has leased space for a clinic inside a Walmart Supercenter in Palestine, Texas…Besides the Palestine clinic, Access’ website shows four clinics “coming soon” in Arkansas and one in Oklahoma.” Read more

 

Home Depot Q2 2024 Earnings Call Transcript at Seeking Alpha

 

Wawa announces first store in West Virginia at Fox News. “Ohio, Kentucky, Indiana, Georgia and Tennessee are other new states where Wawa has said it is putting future convenience stores.” Read more

 

Walton family owns about 46% of Walmart’s shares at 4029 News

 

‘Stress on Shelves’—the Battle for Space in Store Aisles at WSJ. “Between 2009 and 2023, square footage in supercenters and supermarkets decreased 5% and 3.3%, respectively, NIQ data shows. Meanwhile, between 2020 and last year, retailers cut unique products by nearly 9%, NIQ said.” WSJ subs. 

 

Bob Moritz, Former PricewaterhouseCoopers Chairperson, Named to Walmart Board of Directors Press release

 

Federal Trade Commission voted unanimously to ban marketers from using fake reviews at CNBC. “Violations of the rule could result in fines being issued for each violation, according to the rule. This means that for an e-commerce site with hundreds of thousands of reviews, penalties for fake or manipulated reviews could quickly add up.” Read more

 

Dick’s Sporting Goods plans new DC in Fort Worth, Texas Press release