MINNEAPOLIS — Target Corp. achieved stunning profit growth in fiscal 2023 despite continued soft sales that ameliorated somewhat over the second half. Looking to the future, management expects to reignite growth by reinforcing, refining and enhancing the strengths that have driven top- and bottom-line expansion for the retailer over the past decade. No strategic reset
WASHINGTON — Consumers are expected to spend about $22.4 billion on food, clothing and gifts to celebrate Easter, which falls on March 31 this year. That’s according to the annual survey conducted by the National Retail Federation and Prosper Insights & Analytics. The total figure is the second highest in the survey’s history, after last
CHESAPEAKE, Va. — Dollar Tree Inc. reported disappointing quarterly earnings and offered a downbeat outlook on March 13 and announced plans to shutter about 1,000 stores, nearly all of which operate under its Family Dollar banner. As part of an ongoing portfolio review, company executives have identified some 600 Family Dollar stores to close in
BATAVIA, Ill. — ALDI, a retailer already known for its rapid growth, has unveiled plans to increase its store count by 800 locations across the country by the end of 2028. The ambitious five-year expansion plan involves opening new stores and converting existing ones. As part of this expansion effort, ALDI announced that it has
JACKSONVILLE, Fla. — Supermarket operators have sold nonfood products for decades, but they still aren’t getting their fair share of the business. Despite the frequent trips that shoppers make to the grocery store, the channel only accounts for 8% of volume in the health and beauty care, household products and general merchandise categories, according to
WASHINGTON — Retail pharmacy’s drive to secure enactment of meaningful PBM reform received a boost earlier this month when the leaders of the Senate Finance Committee spoke at a press briefing on Capitol Hill during NACDS RxImpact Day. Sens. Ron Wyden (D., Ore.) and Mike Crapo (R., Ind.), the chairman and ranking member of the
ARLINGTON, Va. — Building on burgeoning consumer interest in the link between health and nutrition, the grocery industry aims to raise its profile as a destination for a broad and expanding range of products and services that support customers’ well-being. Executives at FMI – The Food Industry Association recently examined the trend during a briefing
NEW YORK — With a nod to this year’s International Women’s Day theme, Inspire Inclusion, the latest edition of Conversations with WE focused on the journeys of two female industry leaders. Formed seven years ago, WE is an organization comprised of female executive leaders representing retailers, suppliers and business partners. Tina Jackse, chief commercial officer
GOODLETTSVILLE, Tenn. — Dollar General Corp. said financial results for its fiscal 2023 fourth quarter demonstrate progress in the “back to basics” approach adopted last year when Todd Vasos returned to the company as chief executive officer. “We were pleased to deliver fourth quarter top- and bottom-line results at the upper end of our internal
ISSAQUAH, Wash. — Costco Wholesale Corp. posted net sales growth of 5.7% for its second quarter as more members visited its warehouse clubs and spent more per trip. Traffic was up 4.3% in the United States and 5.3% companywide, Costco reported on March 7. Net income in the period through February 18 was $1.74 billion,
CINCINNATI — Kroger Co. reported flat sales for the fourth quarter and fiscal year ended February 3, but profits beat expectations. The retailer reported a $736 million profit on sales of $37.1 billion for the three-month period. Kroger noted that identical sales (excluding fuel) decreased 0.8% in the quarter, while underlying identical sales without fuel
Some forecasters see partly cloudy skies ahead for the U.S. economy, which could translate into weaker sales gains for retailers in the coming months. The Conference Board recently upgraded its forecast, saying that it no longer expects a recession this year. But the news is not all good. “Various indicators of business activity, labor markets,