Issue 08-15-2022

Walmart cuts jobs at headquarters

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

Amazon buys primary care provider

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

Economic indicators are favorable, but consumers are pessimistic

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

CVS surpasses second quarter expectations

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

Kroger adds to delivery network

CINCINNATI — Kroger continues to extend its grocery delivery network rapidly, most recently via the openings of a new “spoke” in Louisville, Ky., and a customer fulfillment center (CFC) in Dallas. Kroger describes the 50,000-square-foot spoke as “a last-mile, cross-dock” operation that features technology from U.K.-based partner Ocado Group PLC. The spoke allows Kroger to

Retailers and suppliers must adapt to new food ecosystem

ST. LOUIS — The food and agricultural ecosystem has been shaken by the events of the last three-plus years, calling into question many long-held assumptions about how such products get from farm to table. Disruptions in the supply chain and changes in consumption patterns triggered by COVID-19, inflation levels not seen for 40 years and

U.S. online retail sales projected to top $1 trillion in 2022

WASHINGTON — The Retail & Consumer Products practice at FTI Consulting projects U.S. online retail sales will reach $1.07 trillion in 2022 despite increasing concerns among shoppers about the condition of the economy and personal finances. The milestone, which FTI Consulting projected prior to the COVID-19 pandemic would be reached in 2025, is an increase

Health care deal boosts Amazon’s disruptiveness

Anyone who had doubts about the depth and durability of Amazon’s commitment to disrupting the health care system should have had those concerns put to rest when the company agreed last month to pay some $3.9 billion to acquire One Medical, a provider of physician-delivered primary care services, and 1Life Healthcare Inc., the network’s administrative