Amazon’s 4Q revenue tops expectations
SEATTLE – Amazon on February 2 reported revenue of $149 billion for its fourth quarter, beating estimates with a 9% increase from a year earlier.
Business
NRF economist offers upbeat forecast for 2023
WASHINGTON – Despite inflation and high interest rates, National Retail Federation chief economist Jack Kleinhenz is predicting that a recession is unlikely and the economy will see slight growth in 2023.
Deloitte looks at the future of the consumer
The consumer industry is facing a once-in-a-century economic, social and technological transition amid a backdrop of significant challenges. To that end, Deloitte recently completed an extensive, 18-month-long effort studying the industry.
Unilever appoints Hein Schumacher as new CEO
Unilever today announced the appointment of Hein Schumacher as its new Chief Executive Officer, following an extensive, global search process. Hein will replace Alan Jope, who announced in September 2022 his intention to retire from Unilever.
Valentine’s Day spending to hit nearly $26 billion
WASHINGTON – Consumers are expected to spend $25.9 billion on Valentine’s Day this year, up from $23.9 billion in 2022 and one of the highest spending years on record, according to the annual survey released Wednesday by the National Retail Federation and Prosper Insights & Analytics.
Sales of herbal immune supplements rise
ST. PETERSBURG, Fla. – During the final quarter of 2022, even as the U.S. grappled with a “tripledemic” of flu, RSV and COVID-19, unit sales of vitamins and health supplements declined over the prior year while average unit prices rose, according to shopper intelligence leader Catalina.
Consumers now take a holistic approach to their health
The focus on health and wellness evolved throughout the pandemic as consumers began seeking coping mechanisms for their altered lifestyles. The consumer’s need for normalcy at the height of the pandemic was the entry for a mental and physical health focus, reports The NPD Group.
Deloitte’s 2023 Retail Outlook: Retail resiliency
It’s been a volatile few years for retailers, and now tides are fluctuating again amid continued financial pressures and a shift in consumer spending toward services that will weigh on retail sales.
Heyward Donigan departing Rite Aid
Rite Aid Corp. announced Monday that its board of directors has appointed Elizabeth (“Busy”) Burr, a member of the company’s board, as interim CEO, effective immediately. Burr’s appointment follows Heyward Donigan’s departure from the company as president and CEO, and as a member of the board.
BrandSpark reveals most trusted grocery retailers in America
NEW YORK – In partnership with Newsweek and Winsight Grocery Business, BrandSpark International announces the fifth annual grocery edition of its BrandSpark Most Trusted Awards, as voted by American shoppers.
Balance between inflation and interest rates is key to avoiding recession
WASHINGTON – It’s too soon to say whether the Federal Reserve’s efforts to reduce inflation will lead to a recession, but continuing interest rate hikes increase the chances, National Retail Federation Chief Economist Jack Kleinhenz said Tuesday.
Amazon celebrates record-breaking holiday season
SEATTLE – Amazon announced that this holiday season was record-breaking one thanks to its customers all around the world. The company said the billions of items were ordered worldwide and tens of millions of Amazon Devices were purchased worldwide.
Retail sales rose 3.4% this holiday season
PURCHASE, N.Y. – Retailers had much to cheer about this holiday season. According to Mastercard SpendingPulse, holiday retail sales increased 3.4% with online sales growing 18.8% compared to 2018.
BJ’s Wholesale club names Lee Delaney as CEO
BJ’s Wholesale Club has named Lee Delaney to serve as chief executive officer. He succeeds Christopher Baldwin, who has been named executive chairman. Baldwin will also serve as a strategic advisor to Delaney. The company also appointed Thomas Kingsbury, the former CEO of Burlington Stores Inc.
Benzer Pharmacy partners with AshHEALTH
Benzer Pharmacy announced Monday that it has named AshHEALTH to spearhead it’s National GPO and pharmacy acquisition strategy. Benzer is targeting aggressive growth as it aims to expand its fast-growing health-hub platform in every community Benzer serves.
NRF says modest sales gains in November
WASHINGTON – Retail sales growth was modest in November, but the National Retail Federation still expects a strong holiday season for retailers. Retail sales in November increased 0.1% seasonally adjusted over October and were up 2.