Home Depot Q2 comp sales down 3.3% Press release

 

…Home Depot expects sales to weaken as consumers grow more cautious at CNBC. “Pros tell us that, for the first time, their customers aren’t just deferring because of higher financing costs,” CFO Richard McPhail said. “They’re deferring because of a sense of greater uncertainty in the economy.” Read more

 

US producer prices rise less than expected in July – +0.1% last month vs. forecast of +0.2% at Reuters

 

AI-labeled products can scare away customers, study finds at Fortune/Yahoo. “In every single case,” Gursoy told Fortune, “whenever we mentioned ‘AI’ versus ‘high tech,’ consumers’ purchase intention went down.” Read more

 

Amazon rebrands used goods marketplace to Amazon Resale at GeekWire. “…was previously known as Amazon Warehouse. Amazon says customers saved 25% on average on products purchased last year through Amazon Resale.” Read more

 

Two-time JCPenney / Ex-Macy’s CEO Mile Ullman dies at 77 at WFAA

 

Saks Fifth Avenue owner developing luxury hotel, apartments in former department stores at NY Post. “Saks Fifth Avenue is contemplating extending its brand to hotels and luxury apartments…In Beverly Hills, HBC is applying for permits from the city to build dozens of luxury residences on Wilshire Blvd. and a hotel, replete with a private club, spa and restaurant along a two-block stretch – real estate that HBC owns – that currently includes parking lots and its new Saks women’s store.” Read more

 

Walmart DC partners with Dallas college on sign language program at NBC DFW. “Many of Kampman’s co-workers have even expressed an interest in learning American Sign Language. “Every day they’ll come up and be like, ‘What’s the sign for this? What’s the sign for that?’ And then I’ll show them.” Soon Kampman will have help.” Read more/Video

 

Senators call Kroger’s dynamic pricing a corporate profiteering scheme at Financial Regulation News. “U.S. Sens. Bob Casey (D-PA) and Elizabeth Warren (D-MA) are questioning Kroger Co.’s use of digital price tags…” Read more

 

A Colorado Ranch Tied to Walmart’s Founding Family Seeks $48.5 Million at Robb Report/Yahoo

 

Tech Talks Business will feature Ted Decker, CEO of Home Depot at Georgia Tech. “Join us for a discussion with Ted Decker…as he shares his career journey, lessons learned, and the importance of an entrepreneurial mindset. Wednesday August 28, 2024, 5:30PM – 7:00PM.” Read more

 

Mark Cuban’s Company Shifts From Partner To ‘Consultant’ In Amazon-Blue Shield Pharmacy Venture at Forbes

 

How Amazon’s massive TV deal with YouTube’s top star turned sour at Business Insider. “Amazon announced the show, called “Beast Games,” in March and said it would offer a $5 million cash prize — believed to be the biggest in TV history…Insiders say the show was risky from the start, with the streamer ceding control to MrBeast’s team.” Read more

 

Canada Goose CEO isn’t worried about diluting the brand as it expands—but experts caution there are graveyards of companies that have tried at Fortune/Yahoo

 

Amazon Prime Day shoppers demonstrate loyalty at Chain Store Age. “According to new data from Earnest Analytics, across all major e-commerce retailers with promotional events in July 2024, 88% of customers exclusively shopped at a single retailer, with 11% shopping at two retailers and 1% shopping across three or more retailers.” Read more