Amazon denies interest in acquiring Ocado
Amazon.com denied a media report that it had an interest in acquiring Ocado. The UK e-grocer and automated warehouse firm saw its stock price jump over 40 percent at one point based on the speculation.
Costco is cracking down on membership card sharing
Get your own membership card f you want to shop at Costco. The warehouse club retailer has stepped up efforts to check photo ID cards to ensure the person shopping is a member.
Americans are feeling more confident about the economy
The Conference Board’s Consumer Confidence Index was 109.7 in June, up from 102.5 in May. “If packed-full restaurants and airports were not enough to convince you that consumers are feeling good at the moment, look at the present situation index, which notched its best monthly gain since December 2022,” Wells Fargo economists wrote in a…
Gen Z knows its generative AI
Gen Z students entering the workforce have been experimenting with generative artificial intelligence technology, bringing their enthusiasm and know-how to their jobs. Members of Gen Z born between 1997 and 2012 make up more than 13 percent of the workforce, according to the U.S. Bureau of Labor Statistics. Gen Z Accepting AI in the Workforce…
Walgreens to close 150 stores
Walgreens has confirmed plans to close 150 stores by August 2024. The drugstore giant this week reduced its annual profit forecast after a disappointing third-quarter performance. Walgreens now expects earnings to fall between $4.00 and $4.05 a share, down from its previous guidance of $4.45 to $4.65.
Diageo ends deal with ‘Diddy’ after he sued it for racial discrimination
Sean “Diddy” Combs sued Diageo, claiming that racial discrimination was behind the spirits maker’s failure to properly support the DeLeón tequila brand, co-owned by the two parties. Diageo, which also partners with Mr. Combs for the Ciroc vodka brand, has terminated its contract for breach of contract. “We are saddened that Mr. Combs has chosen…
Pepsi launching ketchup alternative on July 4
Pepsi has teamed up with the Culinary Institute of America to combine ketchup and Pepsi Cola into a new condiment. Colachup will be available on July 4 at four Major League Baseball stadiums – Chase Field in Phoenix, Comerica Park in Detroit, Target Field in Minneapolis and Yankee Stadium in the Bronx.
Will The INFORM Consumers Act Take a Bite Out of Organized Retail Crime?
The Integrity, Notification, and Fairness in Online Retail Marketplaces for Consumers Act – AKA the INFORM Consumers Act – is now the law of the land.
Shein says Shein influencer factory visits were about transparency
Shein has faced criticism for forced labor and poor working conditions at the Chinese factories that make the cheap goods it sells to American consumers. The company pushed back against that narrative by arranging for social media influencers to tour its facilities in Guangzhou, China. The influencers came away singing Shein’s praises. Critics say it…
Fourth of July cookouts to cost less this year
People throwing Fourth of July cookouts for family and friends can expect to spend a little less this year than they did in 2022, according to a survey from the American Farm Bureau Federation. The cost to feed a party of 10 will be $67.73, down three percent compared to last year’s record high of…
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