Costco comp sales (ex-gas & f/x): Q2 +13.0% / February +13.8% Press release

 

…Costco bacon demand jumps 45% at Fox Business. “(CFO) Galanti, who is skilled at explaining Costco’s hits and misses in plain speak, ballparked the inflationary uptick. “Some categories are in that 2-4% range, some like meat and pork a little higher than that, produce is flat” he detailed in response to a question. However, overall inflation is flat to up 1-1.5% he clarified.” Read more

 

Costco Wholesale’s Q2 Earnings Call Transcript Seeking Alpha

 

Greg Smith, head of Walmart supply chain, exits to Medtronic at Talk Business. “(Furner) said Walmart is beginning a search for a new chief supply chain officer. “We’re also conducting an internal process to fill a supply chain chief Operating officer (COO) role under that position, and this new COO role will have responsibility for leading our distribution centers, fulfillment centers and transportation fleet…” Read more

 

CANADA – Government probe into ongoing grocer-supplier dispute confirms rift ‘needs attention’ at Financial Post. “The minister leading an investigation into the Canadian grocery sector says he is now certain something must be done to ease tensions between the major supermarket chains and their suppliers.” Read more

 

Activist investor group says Kohl’s earnings show ‘best of worst’ in retail, continues push for change at CNBC. “The group of activists looking to seize control of Kohl’s board published a letter saying the retailer’s latest quarterly financial results were lackluster. ″[Kohl’s] board seems to be content performing just slightly better than the worst companies in retail,” the group said in a letter sent to Kohl’s shareholders.” Read more

 

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Saks Fifth Avenue Owner to Separate E-Commerce and Stores Units at Wall Street Journal. “Insight Partners has put up $500 million for a minority stake in Saks.com, valuing the business at $2 billion…Few changes will be visible to customers…Shoppers will be able to buy online and pick up in stores. They will also be able to make returns and exchanges and use their Saks credit cards either at the stores or online. The online business will oversee the marketing and merchandising for both channels.” WSJ subs. | Reuters

 

Kroger ups average pay to $15.50 per hour as digital sales top $10 billion at Cincinnati Enquirer via USA Today. Read more

 

Bed Bath & Beyond CEO Mark Tritton @ CNBC Yesterday at CNBC. “Customers are open to new brands, exploring new brands, from trusted resources and retailers that they have a great relationship with,” Tritton said.” Video/Read more

 

Kroger Q4 Earnings Call Transcript Seeking Alpha

 

Gap CEO predicts spending spree post-pandemic at Fox Business. “We’re quite optimistic,” Chief Executive Sonia Syngal said in an interview. “We do think there’s going to be this peacocking effect that happens, as people emerge from Covid.” Read more

 

BJ’s Wholesale Club Earnings Call Transcript Seeking Alpha

 

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