Wealthier customers flock to Walmart to boost retailer’s sales in strong Q1 earnings
More wealthy shoppers flocked to Walmart, helping the nation’s largest retailer overcome inflation headwinds faced by its rivals and deliver better-than-expected quarterly results, the company said Thursday. Walmart said total U.S. comparable sales increased 3.8% in the first quarter ended April 30, with most of the increase coming from households with incomes of $100,000 or […]
California bill could remove self-checkout lanes at grocers, certain retailers
A new bill proposed in California could prohibit grocery stores and some retailers from offering self-checkout options to customers in an effort to reduce theft. Senate Bill 1446 would “prohibit grocery stores and retail drug stores from offering self-service checkout options to customers unless certain conditions are met,” according to a summary of the proposed […]
Instacart debuts AI-driven ‘smart carts’ to NYC retailers
The future is in aisle 5. Smart carts powered by artificial intelligence are being rolled out in Big Apple supermarkets and will do almost everything for you except prepare your food. Instacart’s Caper Carts uses AI to identify items, prices, and weight of produce, allowing shoppers to check out stress-free with just a click on […]
Landlords who housed Harry Winston, Versace sue NYC over inflated property taxes after big-name retailers moved out
Four major retail landlords are suing the city to reduce their property taxes, saying they are unfairly based on pre-pandemic rents. According to the lawsuit, The Real Deal reportedthe owners of a prime commercial condominium on Fifth Avenue and East 59th Street, say their property taxes are “grossly overstated” because they are based on 2022 […]
FCC investigating Amazon and other retailers over alleged sale of banned products
Stephen Gilchrist, president of the South Carolina African American Chamber of Commerce, argued that the FTC’s antitrust lawsuit against Amazon will hurt small businesses in the big money show. Amazon and other retailers are under investigation by authorities. Federal Communications Commission (FCC) Charged with marketing and selling prohibited equipment. NBC News reported that the investigation […]
San Francisco’s largest mall loses more retailers as exodus continues
San Francisco Beat host Erica Sandberg tears down Barney & Co.'s gutted Main Street store. Tenants continue to be evacuated from Westfield San Francisco Center, San Francisco's largest shopping mall, with retailers announcing last month that they were packing up. Clothing retailer J.Crew, its sister brand Madewell, shoe stores Aldo and Lucky Brands have announced […]