US consumers are expected to spend an average of $73.42 per person to celebrate Independence Day this year, up from $71.34 last year, according to an NRF survey, which also forecasts that food spending for the holiday will hit $7.1 billion. About 44.2 million people plan to travel more than 50 miles for a long July 4 weekend, according to AAA.
Amazon's deal to acquire Whole Foods Market could bring new challenges for Target, which recently launched a three-year revitalization and store redesign plan with food playing a key role. "Whatever competitive pressures were out there before today are now accentuated with this move," Morgan Stanley Analyst Simeon Gutman said.
Kroger sold 8.2 billion units of private label goods last year, marking a record for the retailer, and it will look to build on that success by adding more exclusive products to its 30,000-SKU private label lines, the company said. The retailer has expanded its private label lines by about 60 items per month for the last year and a half and has added about 1,000 products to its private label offerings so far this year.
Kroger has adopted a new mission statement to "Feed the Human Spirit," marking the retailer's shopper-focused strategy to cater to consumers' needs in today's rapidly changing retail environment, Chairman and CEO Rodney McMullen said Thursday. "Kroger has evolved many times over 134 years. We have successfully adapted and competed thanks to our relentless focus on customers and that is why we are confident in our ability to evolve today," he said.
Builders of downtown Chicago's new Apple store added a gigantic logo to the roof, making the store look like a big MacBook. The rectangular roof is made of lightweight materials used in yacht hulls.
A group of subdistributors for Kellogg are asking for compensation after they were let go from their jobs when Kellogg changed distribution from direct-store delivery to the warehouse model. The subdistributors are threatening a class-action lawsuit if Kellogg does not respond.
Sears Canada was granted protection from its creditors Thursday, giving it 30 days to restructure under a plan that calls for the closure of 59 stores or about one-third of its locations. The retailer will shutter all 10 of its outlet stores and 20 full-line department stores, as well as locations under the Sears Hometown and Sears Home banners.
Banana Republic has teamed with textile supplier Piece & Co. to introduce a collection of summer styles created with sustainable fabrics hand crafted by women in South Africa and Ghana. The capsule collection will go on sale next week online and at stores in Japan and North America.
After relocating to be closer to family, Chris Guttmacher opened Blue Bag Records in Cambridge, Mass., with a goal to fill the small store with interesting vinyl selections. "We let the records speak for themselves and it has a friendly, laid-back vibe," said Guttmacher, explaining the aesthetic of his store.
- Page 1