Lowe’s Q2 comp sales down 5.1% “…driven by continued pressure in DIY bigger ticket discretionary spending and unfavorable weather adversely impacting sales in seasonal and other outdoor categories, partially offset by positive comparable sales in Pro and online.” Read more

 

…Lowe’s cuts full-year outlook as it expects home improvement sales to weaken at CNBC. “The company said it now projects total sales of between $82.7 billion and $83.2 billion for the full year, compared with the $84 billion to $85 billion that it previously expected. It said it expects comparable sales to fall by 3.5% to 4%, compared with its prior forecast of a decline of 2% to 3%.” Read more

 

‘The Stress Is Palpable.’ The Frenzy Over Target’s $5 Birds. at WSJ. “It was 6 a.m. and Theresa Hoffman had overslept by three hours. She meant to wake up before sunrise on July 14 to buy Target’s latest $5 decorative birds…Luck and fast fingers meant Hoffman, a 24-year-old assistant math professor in Cicero, N.Y., managed to buy seven of the eight birds. They went out of stock later that day—and have remained that way, until they arrive in stores later this month.” WSJ subs.

 

7-Eleven targeted by Circle K owner for huge convenience store tie-up at CNN. “Couche-Tard confirmed what it called a “friendly” proposal to acquire Seven & I, but said “there can be no certainty” that a deal will be struck. “The company is focused on reaching a mutually agreeable transaction,” it added in a statement.” Read more

 

Kroger sues US FTC over unconstitutional in-house tribunal at Yahoo Finance. “Kroger argues that the FTC’s attempt to adjudicate the company’s private contract rights through the executive branch instead of the independent judicial branch violates Article III. It also contends that the FTC’s strategy of splitting its challenge to the merger across two separate tribunals is an improper attempt to litigate the same issues multiple times.” Read more

 

The 50-Year-Old Technology That Brands and Retailers Are Trying to Quit at WSJ. “Scanning barcodes at checkout could be a thing of the past as early as 2027, brands and retailers say, as they work to replace the decades-old technology with newer, more capable QR codes…The transition won’t be easy…It also won’t be cheap…” WSJ subs.

 

Seattle startup Replenium accuses Albertsons of stealing trade secrets under guise of partnership at GeekWire. “Replenium alleges in the suit that the promise of expanding its technology to Kroger, after the completion of the merger, was one of the ways that Albertsons executives induced the startup to continue working together.” Read more

 

Amazon’s delivery drones become the scourge of Texas town: ‘It sounds like a giant hive of bees’ at NY Post. “The mayor of College Station…fired off a letter to the (FAA) last month to protest the drones…Amazon (is)  seeking permission to expand its pilot program to 469 delivery flights per day — up from its current level of 200 a day. Amazon wants to make drone deliveries from 7 a.m. to 10 p.m. — beyond the current limit of daytime hours…wants to increase the delivery area to a radius of 174 square miles from its drone port — up from its current operating range of 44 miles.” Read more

 

Newsom signs laws expanding California’s crackdown on retail crime at Fox 2 KTVU. “… allowing officers to arrest someone for shoplifting with probable cause, even if the officer didn’t actually see the person steal. Prosecutors are also able to add up the value of property stolen from different victims and locations so that the total reaches the felony grand theft threshold of $950…One law ends a loophole where district attorneys had to prove the owner of a car locked it in order to convict someone for auto burglary.” Read more

 

Nordstrom closing corporate offices in Los Angeles and Chicago at GeekWire. “Most employees based in those cities will transition to full-time remote roles while others will be required to relocate to Seattle…Nordstrom will maintain its office in New York City.” Read more

 

Food Industry Pushes Back Against Kamala Harris’s ‘Price Gouging’ Plan at WSJ. “We understand why there is this sticker shock and why it’s upsetting,” said Andy Harig, a vice president at FMI, a trade group representing food retailers and suppliers. “But to automatically just say there’s got to be something nefarious, I think to us that is oversimplified.” WSJ subs.

 

Walmart continues efforts to boost U.S. manufacturing jobs at Talk Business. “A report from Reshoring Initiative indicates the effort to return manufacturing jobs to the U.S. created 819 reported cases of reshoring in 2023…” Read more

 

Amazon considers moving Amazon Pay into a standalone app in India at TechCrunch

 

Not just for kids anymore: Adults turn to lemonade stands as side hustles at The Washington Post. “The 23-year-old runs her business April through August and sets up at events across Kentucky and parts of Tennessee and Indiana. Last year she made $80,000 in sales, she said. She said she makes anywhere from $2,000 to $10,000 per event. She hires six to eight employees, mostly students, to help her at events. She’s been able to pay off a small student loan and uses the income she makes during the summer months to cover her living expenses during the school year, she said.” Read more

 

Alimentation Couche-Tard to acquire GetGo Café +Markets from Giant Eagle “…employs approximately 3,500 employees and operates approximately 270 convenience retail and fueling locations across Pennsylvania, Ohio, West Virginia, Maryland and Indiana.” Press release