Money
NRF’s Kleinhenz: Economy is in ‘critical moment’
WASHINGTON – As inflation continues to ease and the Federal Reserve ponders when to lower interest rates, the nation is in a “critical moment” of waiting to see what will happen next, according to National Retail Federation Chief Economist Jack Kleinhenz.
Kroger’s Q1 earnings beat expectations
Kroger Co. posted first-quarter earnings that topped expectations.
Circana: Retail sales show signs of stabilization
In May 2024, U.S. retail sales, including both discretionary general merchandise and consumer packaged goods (CPG), changed very little compared to last year’s performance.
Consumers ‘willing to spend’ even as growth slows
WASHINGTON – NRF chief economist Jack Kleinhenz says shoppers are still spending money in retail stores even as smaller wage gains and high interest rates slow consumer spending growth. “U.S.
Costco turns in strong third quarter performance
Costco Wholesale Corp. reported net sales of $57.39 billion for its fiscal third quarter, up 9.1% over the prior year quarter. Net sales for the 36-week year-to-date period increased 7%, to $171.44 billion.
CVS seeks investor for new Oak Street clinics
CVS Health is seeking a private equity partner to fund growth at Oak Street Health, a primary care provider the chain purchased a year ago, Bloomberg News reported on Thursday. CVS has been working with financial advisers to help find capital to back new clinics that will be opened by Oak Street,
WBA sells shares of Cencora for $400 million
Walgreens Boots Alliance (WBA) said today that it has sold about $400 million worth of shares in Cencora, reducing its stake in the drug wholesaler formerly known as AmerisourceBergen.
Target sales decline in Q1, sees growth ahead
Target reported that first-quarter sales were down compared to last year, as it had projected. However, the company expects sales to turn positive in the second quarter and for the year as a whole. Comparable sales declined 3.7% in the first quarter, reflecting a comparable store sales decline of 4.
Walmart posts solid sales, profit gains in Q1
Walmart posted strong sales and profit growth for its fiscal first quarter ended April 26th. Revenues increased 6% in the quarter, to $161.5 billion, and operating income grew at a faster pace of 9.6% (13.7% adjusted). Walmart U.S. comparable store sales grew 3.
Census Data: Retail sales moderated in April
WASHINGTON – Data released by the U.S. Census Bureau today shows retail sales moderated in April, National Retail Federation Chief Economist Jack Kleinhenz said. “Even though household income and job growth are compressing, the consumer spending picture remains positive,” Kleinhenz said.
Circana: April retail sales settle into pattern
In April 2024, U.S. retail sales revenue and unit demand, including both discretionary general merchandise and consumer packaged goods (CPG), declined 1% compared to the same month last year.
CNBC/NRF Retail Monitor: Retail sales up in April
WASHINGTON – April retail sales were up modestly from March, according to the CNBC/NRF Retail Monitor, but were down slightly compared to last year. A shift in the timing of Easter appeared to be the reason for the year-over-year decline.
Economy slowed in Q1, but remains resilient
WASHINGTON, May 7, 2024 – Economic growth slowed during the first three months of the year, but consumers are still spending more than last year, National Retail Federation chief economist Jack Kleinhenz said today. “The U.S.
‘Swipe’ fees could cost Mother’s Day shoppers $750 million
WASHINGTON – The “swipe” fees credit card networks and banks charge merchants to process transactions could cost consumers more than $750 million this Mother’s Day, according to the Merchants Payments Coalition.