Category: Retail News
Biden takes credit for Target grocery price cuts: ‘They’re answering the call’
Target announced price cuts on roughly 5,000 items, which Biden says is because of his administration's pressure campaign. [...]
Short-seller alleges Oddity Tech is misleading investors
Oddity Tech has told investors that it's business is online only, but short seller Ningi Research says it operates a fleet of stores in Israel. [...]
Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users
Nestle's Vital Pursuit brand's initial lineup of 12 items will include frozen bowls with whole grains or protein pasta, sandwich melts and pizzas. [...]
Macy’s beats earnings estimates, as turnaround plan shows early progress
Macy's beat earnings estimates as the department store operator moves to close about 150 namesake locations and open new Bloomingdale's and Bluemercur [...]
Lowe’s beats on earnings and revenue, even as consumers spend less on DIY projects
The home improvement retailer Lowe's said sales fell again year over year, and it reiterated its full-year earnings forecast. [...]
Peloton shares drop after it announces refinancing to stave off cash crunch
Peloton is in the midst of a broad restructuring as it looks to align the size of its business with its slowing sales and avoid a cash crunch. [...]
Wendy’s will offer $3 breakfast deal, as rivals such as McDonald’s test value meals to drive sales
Starting Monday, Wendy's will offer a $3 breakfast combination meal deal, following a similar yet limited value meal option by McDonald's. [...]
As their customers age, Macy’s, Kohl’s and Nordstrom are chasing younger shoppers
Baby Boomers make up a sizeable chunk of the retailers' shoppers and investors aren't convinced that Gen Z and Millennials will age into shopping at t [...]
Target lowering prices on 5,000 frequently bought items
The price cuts will mostly affect grocery staples and household staples. Consumers are feeling increasingly pinched amid the inflationary environment. [...]
Red Lobster files for bankruptcy
Seafood chain Red Lobster has been weighed down by significant debt and long-term leases. [...]