In this week’s grocery roundup, superstores set their sights on big spenders, Grab grows its grocery presence, and supermarket spending is rising. Mega-retailer Target discussed Wednesday (Nov. 16) on a call with investors about its third-quarter results that food spending is growing across income groups. Christina Hennington, executive vice...
Nearly one year after cancelling its plans to go public, Florida-based supermarket chain owner Southeastern Grocers is reportedly considering an outright sale of the company. The company, which owns and operates about 420 Southern grocery stores under three different brands, is currently in talks with...
With this year’s holiday season just around the corner, stores and brands are bracing themselves for a deluge of sales and returns — hoping to increase the former while mitigating the latter. As it is, returns are eating into retailer costs. In 2021 alone, shoppers...
Drawing on a 40-year purview as a Macy’s employee that began as a trainee in 1983 and has seen him in the role of chairman and CEO for the past six, Jeff Gennette has seen more than his shares of ups and downs atop one...
With its focus on discretionary products and middle-income consumers, Kohl’s has been hard hit by the current macroeconomic trends, the retailer said Thursday (Nov. 17) during its quarterly earnings call. “Persistently high inflation continues to dampen consumer spending and our business given our exposure to discretionary categories...
Bath and Body Works said a focus on “innovation and newness” helped the personal care and fragrance retailer end its most recent quarter on a strong note. The company saw its stock jump 20% early Thursday (Nov. 17) after its earnings release showed a positive...
As retailers look to limit returns during the holiday shopping season, PayPal-owned Happy Returns has debuted a new returns-based revenue stream for Shopify merchants. Return Shopping is designed to “drive shoppers to merchants’ eCommerce storefronts within the return experience,” helping retain revenue without the accounting...
The country’s third largest retail chain warned investors that, despite unprecedented promotions aimed at reducing excess inventory, its critical holiday sales season would fall short of expectations. In speaking to investors about its third-quarter results, Target CEO Brian Cornell said the Minnesota-based retailer was bracing...
Consumers spent more last month than some observers expected. What remains to be seen is whether that trend can continue. Commentary from Target Wednesday (Nov. 16) and PYMNTS’ own data cast some significant doubt over that sustainability. As reported Wednesday, United States retail sales rose...