2025-04-06 00:01:19.44

Costco is making some big changes to its food courts! They've already introduced a new strawberry banana smoothie and plan to reintroduce the popular turkey provolone sandwich. Plus, get ready for a major soda switch this summer as they transition back to Coca-Cola products after offering Pepsi since 2013. These changes, along with the continued success of their iconic $1.50 hot dog and soda combo (229 million sold in fiscal 2024!), are part of Costco's strategy to keep members coming back for more. With 900 global warehouses and 140.6 million members, Costco's ancillary businesses, including food courts, are a key part of their success.

2025-03-27 00:05:23.512

Dollar Tree is ending its disastrous Family Dollar experiment, selling the discount chain for $1 billion—a mere fraction of its $9 billion purchase price in 2015. The sale to private equity firms Brigade Capital Management and Macellum Capital Management is pending regulatory approval. Family Dollar, with approximately 8,000 US stores targeting low-income customers, has faced numerous challenges, including messy stores, high prices, over-expansion, and stiff competition from Walmart. Analysts cite the acquisition as a poor fit, with Dollar Tree struggling to manage Family Dollar's larger store base and implement successful strategies. Issues such as poorly maintained stores, failed initiatives (like selling beer), and excessive store proximity leading to cannibalized sales contributed to the downfall. A record $41.6 million fine from the Justice Department for safety violations further compounded the problems. The broader dollar store industry is also facing pressure due to inflation impacting both operating costs and consumer spending, along with increased competition. Dollar Tree itself is considering price increases to offset tariffs impacting its imported goods, a significant portion of its sales. The sale marks a significant loss for Dollar Tree but potentially offers a fresh start for Family Dollar under new ownership.

2025-03-09 06:00:41.487

A 40-day boycott of Target, dubbed the "Target Fast," began on Wednesday, the first day of Lent. Organized by Rev. Jamal Bryant and other faith and civil rights leaders, the boycott protests Target's decision to curtail several DEI programs, including one supporting Black employees and Black-owned businesses. The boycott, which runs through April 17, aims to highlight the spending power of Black Americans and pressure Target to reinstate its commitments to DEI. Target has declined to comment directly on the boycott. The company's decision to scale back DEI initiatives follows similar moves by other corporations and has faced criticism, with some viewing it as a response to conservative pressure. While Target's rival, Walmart, also reduced its DEI initiatives, Target's actions drew more significant customer outrage due to its past messaging and reputation as a supporter of racial minorities and the LGBTQ+ community. The boycott organizers urge participants to redirect their spending to Black-owned businesses and are demanding Target restore its DEI commitments and honor its pledge to spend over $2 billion with Black-owned businesses by 2025. Approximately 110,000 people reportedly signed up to participate. Experts note that the boycott highlights the risks companies face when actions contradict their previous messaging and alienate customer bases, particularly within vulnerable communities. The success of the boycott depends on sustaining momentum and providing alternative options for consumers. While the boycott's impact remains uncertain, it underscores the power of consumer activism and the potential consequences of corporate decisions perceived as betraying consumer trust.

2025-03-09 00:00:51.424

A 40-day boycott of Target, dubbed the "Target Fast," began on Wednesday, the first day of Lent. Organized by Rev. Jamal Bryant and other leaders, the boycott protests Target's decision to curtail several diversity, equity, and inclusion (DEI) initiatives, including programs supporting Black employees and businesses. The boycott, which runs through April 17th, encourages participants to redirect their spending to Black-owned businesses. Target has declined to comment directly on the boycott. The company's decision to scale back DEI initiatives, following similar moves by other corporations, sparked outrage among customers and activists. Experts highlight the risk companies face when actions contradict previous messaging and consumer expectations, potentially leading to boycotts. The success of the "Target Fast" remains uncertain, but it underscores the power of consumer activism and the challenges companies face in navigating social and political pressures.

2025-03-04 22:36:21.956

Goldman Sachs CEO David Solomon will oversee the layoff of 3% to 5% of the firm's workforce, amounting to over 1,395 job cuts. This is part of the bank's annual talent management process, but follows smaller reductions in September. While the bank plans to hire new employees later in the year, those laid off received poor reviews or smaller bonuses. Solomon, who received a 26% pay raise to $39 million in 2024, has focused on improving efficiency and refocusing the bank's business. The layoffs come as Goldman Sachs reported record profits of $14 billion in 2024. Solomon has also been navigating the firm's rollback of diversity, equity, and inclusion policies amid potential lawsuits. The timing of the layoffs also coincides with uncertainty surrounding Trump's economic policies, including tariffs on Mexico, Canada, and China, which Solomon described as an attempt to 'level the playing field'. Despite the layoffs, Goldman Sachs' stock price has surged in the past year.

2025-03-04 00:01:21.425

Kroger, America's largest grocery chain, announced the resignation of its Chairman and CEO, Rodney McMullen, following an internal investigation into his personal conduct. The investigation, unrelated to Kroger's business operations or financial performance, concluded that McMullen's actions were inconsistent with the company's ethics policy. Ronald Sargent, a long-time board member with extensive experience in the grocery industry and as former CEO of Staples, will serve as interim CEO and chairman. McMullen's career with Kroger spanned four decades, beginning as a part-time stock clerk. The investigation, initiated after the board learned of the situation on February 21st, was conducted by independent counsel. Kroger's board will conduct a search for a permanent CEO. This news comes as Kroger is recovering from its failed merger attempt with Albertsons. The merger, which would have created the largest supermarket in the US, was blocked by judges due to antitrust concerns. Albertsons also announced the retirement of its CEO, Vivek Sankaran, to be replaced by Susan Morris.

2025-03-01 18:00:35.578

A 24-hour "economic blackout" promoted on social media took place, aiming to protest the influence of billionaires, big corporations, and both major political parties on working Americans. The People's Union USA, a recently founded group led by John Schwarz, encouraged this boycott. While initial reports from retail analyst Marshal Cohen suggested no significant impact on consumer spending, the situation is nuanced. The boycott's impact on sales is difficult to definitively measure, with some research firms not tracking the event. Anecdotal evidence from social media and small business owners like Mischa Roy presented a mixed picture, with some reporting no change while others experienced brisk sales. The blackout also sparked counter-protests and criticism online. The People's Union USA plans future boycotts, including a week-long boycott of Walmart and Amazon. The event also highlights other ongoing boycotts, such as one against Target for reducing its DEI initiatives, organized by Rev. Jamal Bryant, and another by Rev. Al Sharpton targeting companies abandoning their DEI pledges. Academic experts like Anna Tuchman offer insights into the potential impact and sustainability of such boycotts, referencing past examples like the Goya Foods and Bud Light boycotts which yielded contrasting results.

2025-02-28 17:48:48.198

In early February, John Schwarz, a mindfulness and meditation facilitator, proposed a 24-hour nationwide "economic blackout" on February 28th, urging people to boycott major chains like Amazon and Walmart. His call, initially expecting minimal participation, went viral, garnering millions of views and celebrity support. While experts doubt its effectiveness in significantly impacting major corporations, the boycott taps into widespread public anger towards the American economy and corporate power. The movement, though uncoordinated, reflects a desire for collective action outside the traditional political arena. The boycott's reasons are diverse, encompassing high prices, corporate power, political grievances, and opposition to the rollback of DEI policies. Schwarz formed "The People's Union" to organize further action. The boycott coincides with a more organized effort to target Target, which has faced backlash for scaling back its DEI initiatives. This has led to decreased foot traffic at Target, although this may be due to various factors. While boycotts are often short-lived and hard to sustain, they can raise awareness, pressure companies, and damage reputations. The Bud Light boycott is cited as a recent example of a successful, albeit right-wing, campaign. Ultimately, while the success of Schwarz's boycott remains uncertain, it highlights the potent combination of social media, public frustration, and the potential for consumer action to influence corporate behavior.