MINNEAPOLIS — Target reported that its third quarter profits increased 47% on a 13% sales gain as the retailer successfully navigated challenges presented by inflation and supply issues. Sales reached $25.3 billion in the three-month period that ended October 30, compared to $22.3 billion in the comparable period last year. Sales at stores that have
WESTBOROUGH, Mass. — BJ’s Wholesale Club reported strong sales results in the third quarter. Comparable-club sales (excluding gasoline) increased by 5.7%, reflecting a two-year stacked comp of 24.2%. Digitally enabled sales growth was 44%, reflecting two-year stacked comp growth of 244%. The company’s earnings per diluted share of 92 cents reflected a 4.5% year-over-year increase.
Helena Foulkes is running for governor of Rhode Island. For those among you — very few, I’m certain — who don’t know Helena by name, reputation or both, she has been, over the past two decades, one of the significant contributors to the mass retailing community. For a time, she held the No. 2 position
The importance of the business community’s efforts to help ensure a sustainable future for the planet was thrown into stark relief by the decidedly mixed results coming out of the COP26 global climate change conference in Glasgow. The gathering was intended to secure commitments from the almost 200 nations in attendance that would stave off
Last month Walgreens said it was closing five stores in San Francisco, not because they were unpopular with consumers, but because they were too popular with thieves. The stealing was brazen — one man repeatedly raided a store astride a bicycle, exiting toting a garbage bag full of stolen goods. Walgreens said the losses made
As is well documented, the transmission of COVID-19 to U.S. soil sent major shock waves throughout retail. Store closings, heightened unemployment and GDP decline together drove a recessionary economy, yet certain areas of retail performed unexpectedly well. One of these was the home goods market, stoked primarily by lockdowns and the perceived need to improve
CINCINNATI — Kroger Co. is the latest major retailer to introduce a subscription membership program to accelerate its e-commerce growth. The nation’s largest supermarket operator has joined a growing number of mass market retailers in adopting the model pioneered by Amazon with its Amazon Prime premium loyalty program. The Kroger effort, appropriately dubbed Boost by
DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) unveiled an ambitious plan to reinvent itself as an integrated health care company. A clearer focus on health care will serve as the drug store chain’s “new growth engine,” chief executive officer Roz Brewer said last month in introducing the plan. “The pandemic further affirmed the timing is
WOONSOCKET, R.I. — Both sales and adjusted earnings exceeded Wall Street’s expectations during the third quarter at CVS Health, buoyed by an increase in store traffic that was driven by prescription growth and COVID-19 vaccinations. As a result, management once again raised its full-year guidance. Reported, or GAAP, net income for the three months ended
COLORADO SPRINGS, Colo. — GMDC|Retail Tomorrow plans to dissolve as a member-owned nonprofit at the end of this year. The decision, made by the trade group’s board, was scheduled to be voted on by members on November 12. “This news is disappointing to many, but we recognize our industry has changed significantly,” GMDC president and
WASHINGTON — This year’s holiday spending has the potential to shatter previous records, the National Retail Federation (NRF) said, forecasting that sales during November and December will grow between 8.5% and 10.5% over 2020 to total between $843.4 billion and $859 billion. The numbers (which exclude automobile dealers, gasoline stations and restaurants) suggest that sales
MATTHEWS, N.C. — Harris Teeter has named Tammy DeBoer as its next president. She will succeed Rod Antolock, who has announced plans to retire effective February 1. DeBoer currently serves as senior vice president of merchandising, operations and marketing for Harris Teeter. She joined the retailer, a division of Kroger Co., in 2020 and has