ARLINGTON, Va. – A deep dive by the Food Industry Association (FMI) into the state of fresh foods at retail finds that the category’s momentum is sustainable and is pushing deeper into the digital channel. The pandemic changed Americans’ grocery shopping and cooking habits, with consumers incorporating more fresh foods into their diets, says Leslie
MINNEAPOLIS — Target Corp. today said its second-quarter profit fell nearly 90% from the year-ago level as it slashed prices to unload excess inventory. But after absorbing the short-term pain, the retailer is now set for a rebound that would put it on track to hit its revised full-year financial targets. “Looking ahead, the team
WEST DES MOINES, Iowa — Hy-Vee Chairman and CEO Randy Edeker has named Jeremy Gosch as CEO and president of Hy-Vee’s retail operations as well as vice chairman of Hy-Vee’s Board of Directors. Gosch will lead alongside Aaron Wiese, who will serve as CEO and president of Hy-Vee’s subsidiaries and supply chain as well as
BENTONVILLE, Ark. — Walmart reported stronger than expected second quarter sales and earnings on Tuesday, and revised its full-year earnings outlook. The company said it delivered strong top-line growth globally, partially driven by inflation. Total revenue was $152.9 billion, up 8.4%, or 9.1% in constant currency. Comp sales for Walmart U.S. grew 6.5%, and 11.7%
BENTONVILLE, Ark. — Amazon Prime offers a streaming TV service as one of the perks of membership. Soon Walmart+ members will get one too. Beginning in September, Walmart+ members will be able to stream premium entertainment through access to the Paramount+ Essential Plan, which includes access to a wide range of content including such original dramas
DEERFIELD, Ill. — Walgreens has hired Min Cho to serve as chief format concepts and design officer, the company said on Monday. He will report to Tracey Brown, the retailer’s chief customer officer. In this newly created role and function, Cho will focus on new innovative store design and architecture, which the company says is
GOODLETTSVILLE, Tenn. — Dollar General Corp. chief executive officer Todd Vasos plans to step down from his position effective November 1. He will be succeeded by Jeff Owen, who has served as Dollar General’s chief operating officer since 2019. As part of the leadership transition, Vasos is expected to serve in a senior advisory position,
BENTONVILLE, Ark. — Walmart has cut about 200 jobs at its corporate headquarters in what a spokesperson characterized as a way to “better position the company for a strong future.” The layoffs, first reported by The Wall Street Journal, came just a week after Walmart revised its profit outlook for its second quarter and fiscal
WEST DES MOINES, Iowa — Hy-Vee chairman and chief executive officer Randy Edeker has tapped Aaron Wiese to succeed him as CEO, effective October 1. Wiese is currently the company’s vice chairman and president of its supply chain and subsidiaries. Jeremy Gosch will remain Hy-Vee’s president and chief operating officer, responsible for all of the
SEATTLE — Amazon last month announced a deal to acquire One Medical, a publicly traded primary care company. San Francisco-based One Medical operates on a membership model. Its services are an employee benefit at 8,500 companies. Individuals can purchase a yearly membership for $199, allowing them to access One Medical’s virtual care and same-day appointments
NEW YORK — The economy is showing unexpected signs of strength as consumers continue spending despite concerns about inflation, while the Department of Labor jobs report for July shows the economy added half a million jobs last month. Despite those trends, consumers continue to express pessimism. Employment growth far exceeded expectations and effectively recouped the
WOONSOCKET, R.I. — CVS Health easily beat analysts’ projections for second quarter sales and earnings, and raised its full-year profit outlook. The company posted adjusted earnings per share of $2.40, topping Wall Street’s average forecast of $2.17. Net income was $2.96 billion, or $2.23 per share, up from $2.79 billion, or $2.10 per share, a