Target poised for renewed growth
Target Corp. achieved stunning profit growth in fiscal 2023 despite continued soft sales that ameliorated somewhat over the second half.
Issue 03-25-2024
Easter spending to top $22 billion
Consumers are expected to spend about $22.4 billion on food, clothing and gifts to celebrate Easter, which falls on March 31 this year. That’s according to the annual survey conducted by the National Retail Federation and Prosper Insights & Analytics.
Dollar Tree retrenching after disappointing Q4
Dollar Tree Inc. reported disappointing quarterly earnings and offered a downbeat outlook on March 13 and announced plans to shutter about 1,000 stores, nearly all of which operate under its Family Dollar banner.
ALDI to add 800 stores over five years
ALDI, a retailer already known for its rapid growth, has unveiled plans to increase its store count by 800 locations across the country by the end of 2028. The ambitious five-year expansion plan involves opening new stores and converting existing ones.
FMI laying foundation to make grocers nonfoods destination
Supermarket operators have sold nonfood products for decades, but they still aren’t getting their fair share of the business.
Senators press for PBM reform at NACDS Event
Retail pharmacy’s drive to secure enactment of meaningful PBM reform received a boost earlier this month when the leaders of the Senate Finance Committee spoke at a press briefing on Capitol Hill during NACDS RxImpact Day. Sens. Ron Wyden (D., Ore.) and Mike Crapo (R., Ind.
FMI: health and wellness support becoming a pillar for grocers
Building on burgeoning consumer interest in the link between health and nutrition, the grocery industry aims to raise its profile as a destination for a broad and expanding range of products and services that support customers’ well-being.
WE highlights two inspiring career path journeys
With a nod to this year’s International Women’s Day theme, Inspire Inclusion, the latest edition of Conversations with WE focused on the journeys of two female industry leaders.
Dollar General’s Q4 results at top end of internal forecast
Dollar General Corp. said financial results for its fiscal 2023 fourth quarter demonstrate progress in the “back to basics” approach adopted last year when Todd Vasos returned to the company as chief executive officer.
Q2 gains reported by Costco
Costco Wholesale Corp. posted net sales growth of 5.7% for its second quarter as more members visited its warehouse clubs and spent more per trip. Traffic was up 4.3% in the United States and 5.3% companywide, Costco reported on March 7. Net income in the period through February 18 was $1.
Kroger’s earnings top expectations
Kroger Co. reported flat sales for the fourth quarter and fiscal year ended February 3, but profits beat expectations. The retailer reported a $736 million profit on sales of $37.1 billion for the three-month period. Kroger noted that identical sales (excluding fuel) decreased 0.
Mixed Forecast for ’24 Retail Sales
Some forecasters see partly cloudy skies ahead for the U.S. economy, which could translate into weaker sales gains for retailers in the coming months. The Conference Board recently upgraded its forecast, saying that it no longer expects a recession this year. But the news is not all good.
Walmart’s carbon cuts should be an exemplar
warfare in Europe and the Middle East, high food prices, and the promise and peril of generative AI among them — have diluted the sense of urgency to address climate change, it’s heartening to see a major private sector initiative, designed to reduce greenhouse gases, come to
Costco’s aura has never been brighter
and, no great surprise, the news is overwhelmingly positive. To begin at the beginning, Craig Jelenik, the retailer’s longtime (and very effective) chief executive officer, has retired, ending an era of unprecedented retail success.
Influential Women: Claudine Adamo, Costco
As executive vice president of merchandising at Costco Wholesale Corp.
Influential Women: Monica Arnaudo, Ulta
Ulta Beauty continues to produce strong sales and profits by giving customers what they want. That’s exactly Monica Arnaudo’s superpower as the chief merchandising officer for the nation’s largest beauty retailer.