Business
NRF economist says growth in consumer spending is slowing
WASHINGTON – U.S. consumers are still buying more than last year, but spending growth is slowing as the economy settles down amid higher interest rates intended to reduce inflation, National Retail Federation Chief Economist Jack Kleinhenz said Thursday.
Growth in online sales boosts Ahold Delhaize in Q2
Ahold Delhaize reported sales of €22.1 billion ($24.3 billion) for its fiscal second quarter, up 4.3% at constant exchange rates and up 2.9% at actual exchange rates, the company said Wednesday. U.S. net sales were €13.6 billion ($14.9 billion), an increase of 2.
Amazon reports double-digit sales gains in Q2
Amazon.com Inc. reported net sales of $134.4 billion in the second quarter of fiscal 2023, an 11% increase compared to the same period in 2022 when net sales stood at $121.2 billion. Sales in North America totaled $82.
WBA sells shares of AmerisourceBergen Corp. for $1.85 billion of initial proceeds
Walgreens Boots Alliance (WBA) announced Thursday that it has sold shares of AmerisourceBergen Corp. common stock pursuant to prepaid variable share forward transactions executed through a registered public offering for current proceeds of approximately $1.6 billion.
Circana: Beauty sales jump 15% in first half
CHICAGO – Following a robust 2022, the beauty industry has sustained its momentum through the first half of 2023, according to Circana.
Walmart tops FORTUNE Global 500 list once again
FORTUNE announced that U.S. retailer Walmart topped the Fortune Global 500 list for 2023, ranking the world’s largest corporations by revenue for fiscal 2022. On Fortune’s authoritative ranking of the (current) corporate world order, the Arkansas-based retailer claimed No.
dunnhumby study finds U.S. families skipping meals for financial reasons
Thirty-six percent of U.S. families have skipped meals due to financial reasons in the last year according to the fourth wave of the dunnhumby Consumer Trends Tracker (CTT) released Wednesday.
CVS beats Q2 revenue and profit forecasts
CVS Health topped Wall Street’s estimates for the top and bottom lines for the second quarter ended June 30. Revenue, driven by growth across segments, rose 10.3% to $88.9 billion, exceeding analysts’ forecast of an $86.45 billion. While adjusted earnings dipped 12.6% from the year-ago period to $2.
Dollar General chief strategy officer Lau departs
Donnie Lau has left his position as senior vice president of finance and chief strategy officer at Dollar General to become chief financial officer at Zaxby’s Franchising LLC, an Athens, Ga.-based chicken restaurant chain with more than 900 locations in 17 states.
Retailers uncork big sales with private label wine
Raise a glass to private label wine: dollar sales in all U.S. outlets jumped 9.1% to $52.2 million for the 52 weeks ending June 18, 2023, versus the same period the prior year, according to data from Circana. What’s more, unit sales grew 8% for the same period. Store brand spirits are
Many grocers believe optimizing fulfillment is key to improving digital profitability
Recent research by Incisiv, conducted in collaboration with The Food Industry Association (FMI) and in partnership with RELEX, highlights the importance of strategic fulfillment in achieving digital profitability.
CVS executive joins General Motors
General Motors (GM) has named former CVS executive Norm de Greve senior vice president and chief marketing officer. De Greve joins GM from CVS Health, where he has served as chief marketing officer since 2015. De Greve’s appointment is effective July 31, 2023.
U.S. retail spending increased 1% in June
CHICAGO – In June 2023, U.S. retail sales revenue, including both discretionary general merchandise and consumer packaged goods (CPG), increased 1% compared to the same month last year, and unit sales declined 3%.
Retail sales grew again in June
WASHINGTON – Retail sales continued to rise in June even as employment grew more slowly, the National Retail Federation said on Tuesday.
Dollar General introduces DG Cash Back Rewards Program with Ibotta
GOODLETTSVILLE, Tennessee –Dollar General, announced its new DG Cash Back Program, which allows customers to earn cash back in their DG Wallet on eligible purchases through the Company’s partnership with the Ibotta Performance Network.