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MINNEAPOLIS — Target Corp. plans to invest up to $5 billion on its physical stores, digital experiences, fulfillment capabilities and supply chain capacity this year to support its continued growth. “Years of investment in our team and business have driven our sales beyond $100 billion and positioned Target to meet the needs of our guests
MINNEAPOLIS — Target had another good year in 2021. The company delivered $106 billion in total revenue for the year, having grown nearly $28 billion, or more than 35%, over the past two years. Comparable sales grew 12.7%, on top of a 19.3% increase in 2020. Target also said that earnings per share in the
Bryan Gildenberg, senior vice president of commerce at the Omnicom Commerce Group and former chief knowledge officer at Kantar, shares his insights about the current status and future prospects of the retailing and consumer products sectors. In a wide-ranging discussion, Gildenberg talks about companies’ responses to the COVID pandemic, ongoing changes in the supply and
BRAMPTON, Ontario — Loblaw Cos. reported revenue of $12.76 billion (all figures Canadian) for the fourth quarter of fiscal 2021. This represented an increase of 2.8% (adjusted) when compared to the fourth quarter of 2020. Retail segment sales were $12.49 billion, up 2.6% when compared to the fourth quarter of 2020. Food retail (Loblaw) same-store sales increased
WASHINGTON — Whole Foods Market opened a store here on Wednesday that allows customers to skip the checkout line and “Just Walk Out,” relying on computer vision and a system of sensors to tally their bill, process their payment and email them a receipt. Located at 2323 Wisconsin Ave. N.W. in Washington D.C.’s Glover Park
BENTONVILLE, Ark. — Walmart has released its COVID-19 One-Year Vaccine report outlining its all-hands-on-deck approach to fighting the pandemic and keeping communities safe and healthy. Dr. Cheryl Pegus “The past year has been incredibly challenging for all Americans, and we’re proud to have done our part help fight the pandemic and keep our communities’ self and healthy,”
WEST DES MOINES, Iowa — Hy-Vee Inc. officially announced its planned expansion into Kentucky on Tuesday, and released details about its first store opening in the state. Hy-Vee has secured approximately 12 acres at the SouthPointe Commons retail and lifestyle center, located at 7405 Bardstown Road in Louisville, Kentucky. The company has submitted its initial
PORT WASHINGTON, N.Y. — U.S. consumers have started to pull back on discretionary general merchandise purchases in the face of higher prices, according to the NPD Group. Unit sales fell more than 8% for six consecutive weeks after the holiday shopping season, when compared to a year ago, NPD reported. Despite higher prices, these unit
BENTONVILLE, Ark. — Walmart wrapped up its 2022 fiscal year on a resoundingly strong note, beating Wall Street’s expectations for fourth-quarter adjusted earnings, revenues and same-store sales. The flagship Walmart U.S. division, moreover, topped $100 billion in quarterly sales for the first time. “We had another strong quarter to finish off a strong year,” said
WASHINGTON – The omicron variant, inflation and bad weather in much of the country were not enough to stop consumers from shopping in January, the National Retail Federation reported on Wednesday. Retail sales posted strong gains in January despite those and other challenges. “January’s numbers show that 2022 is starting very strong for consumers and
ZAANDAM, the Netherlands — Ahold Delhaize reported strong fourth-quarter results that beat expectations, helped by increased online sales boosted by the pandemic. A report by Reuters noted that the company’s net sales in the final quarter of 2021 totaled 20.1 billion euros ($22.8 billion), beating a forecast of 19.8 billion euros in a company-compiled poll
PURCHASE, N.Y. — 2022 kicked off with gains across nearly all retail sectors, according to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment. This January, U.S. retail sales excluding auto increased 7.2% year-over-year (YOY), with online sales growing 10.4% compared to January 2021. Despite the shadow of Omicron and elevated inflation, consumer spending was buoyed by