Target Names Jim Lee Chief Financial Officer

Target Corporation today announced that Jim Lee has been named chief financial officer and a member of its leadership team effective Sept. 22. In his new role, Lee will be responsible for financial planning and analysis, finance capabilities, internal audit, accounting, investor relations, treasury, tax, risk, financial products and services and corporate development. He succeeds Michael Fiddelke, Target's chief operating officer.

"As a successful leader in finance and strategy, Jim will oversee the central role our finance team plays in fueling our long-term profitable growth," said Brian Cornell, chair and CEO, Target...

The Retail Rundown: September's Seasonal Shifts

Although there are about two weeks left to enjoy summer, many consider the season unofficially over following Labor Day. The retail landscape is starting to reflect this shift, where factors like cooler weather and football season are already influencing consumer demand. 

The frozen/convenience aisles and deli counters benefit from back-to-school needs and provide quick meals for busy households. Circana data indicates that prepared dishes/kits earned $18.1 million in total sales last week, up from $17.7 million the week prior. Over in lunchmeat, fresh packaged turkey retailed at $7.21 discounted, an 18-cent year-over-year decrease.  

FMI Research: Shoppers Feel in Control of Their Grocery Spending

Consumers are adapting their shopping strategies to include more flexibility as they attempt to control their grocery spending heading into the fall, according to the latest survey conducted by FMI – The Food Industry Association and The Hartman Group. The report, U.S. Grocery Shopper Trends 2024: Return to Routine, provides a crucial snapshot of how shoppers are finding value and evolving their grocery shopping habits in the current economic environment.

While shoppers report continued concerns regarding inflationary pressures on food and other consumer categories...

Kroger Files Motion to Enjoin the FTC's Administrative Merger Challenge

The Kroger Co. today filed a motion for preliminary injunction in the U.S. District Court, Southern District of Ohio, against the Federal Trade Commission's (FTC) administrative proceeding challenging the company's merger with Albertson's Companies, Inc. The company argues that by proceeding in its administrative tribunal, in addition to the separate action in federal court, the FTC is violating Constitutional protections.

The motion details how the FTC's administrative proceeding against the merger clearly violates the Constitution in two areas:

• First, the FTC violates Article II of the Constitution because...

The Retail Rundown: Leaping Towards Labor Day

Labor Day weekend, often viewed as the unofficial end of summer, is just two weeks out. Many families are seizing the opportunity for one last vacation, boosting foodservice spending.

For some students, summer break has already concluded, and back-to-school shopping for essentials like breakfast and lunch items is in full swing. Among retailers, Labor Day is recognized as the final major grilling event of the year, marking the last big push to promote barbecue favorites.

Last week, boneless skinless chicken breasts were featured at $4.43 discounted, 18 cents above...

The Retail Rundown: Multiple Factors Fuel Promotions; CPI Update

As we reach mid-August, grocery stores are transitioning their end caps from summer displays to game-day essentials, gearing up for the NFL regular season. At the same time, circulars are packed with barbecue items for the upcoming Labor Day weekend along with back-to-school essentials as some regions are already welcoming students back to class.

This week, seafood continues to dominate, representing about 28% of total protein volume in retail buying opportunities. Pork follows with a 23.4% share, while beef captures...

Weis Markets Reports Second Quarter 2024 Results

Weis Markets, Inc. today reported its financial results for the 13-week second quarter and 26-week year-to-date period ended June 29, 2024.

"Our second quarter 2024 results, which were negatively impacted by the Easter holiday shift, are in line with our expectations despite an extremely challenging market environment marked by continuing customer caution," said Weis Markets, Inc. Chairman, President, and CEO Jonathan H. Weis. "During the quarter, we increased our price investments by lowering the prices on 600 high-demand dairy items as...

The Retail Rundown: Unsettled Start to August

August began with a sharp decline in the global market, triggered by weak U.S. economic data and disappointing labor market figures. Traders are also assessing corporate earnings and the Federal Reserve's stance on interest rates amid concerns of a U.S. economic slowdown.

Publix Reports Second Quarter 2024 Results and Stock Price

Publix’s sales for the three months ended June 29, 2024 were $14.5 billion, a 3.1% increase from $14.1 billion in 2023. The company estimates sales were negatively impacted by 1.1% due to the effect of the Easter holiday being in the first quarter in 2024. In 2023, the effect of the Easter holiday was in the second quarter. Comparable store sales for the three months ended June 29, 2024 increased 1.1%.

Net earnings for the three months ended June 29, 2024 were $972... 

The Retail Rundown: Summer and Back-to-School Fuel Deli Demand

As August approaches, consumers are eager to savor the last weeks of the summer season. With Labor Day weekend—the unofficial end of summer—just five weeks away, some retailers have already begun stocking up for the holiday.

In the meantime, back-to-school items, including snacks and sandwich ingredients, are beginning to appear in circulars. The deli counter is currently benefiting from summer activities as day-trippers make meals for picnics and various outings.

Last week, the lunchmeat sector generated nearly $26.8 million in total sales, up...

Casey's Announces Agreement to Acquire 198 CEFCO Convenience Stores

Casey’s General Stores, Inc. , one of the leading convenience store chains in the United States, today announced an agreement to acquire Fikes Wholesale, Inc., owner of CEFCO Convenience Stores (“CEFCO”), in an all-cash transaction for $1.145 billion. The purchase price includes tax benefits valued at approximately $165 million for a net after-tax purchase price of $980 million.

Fikes Wholesale, Inc. and CEFCO Convenience Stores began as a single “filling station” in Cameron, Texas in 1952 and has grown to be a respected operator...

The Retail Rundown: Competition for Ad Space Intensifies

As the final full week of July comes to a close, the retail sector is promoting at-home eating during the dog days of summer, a time when protein consumption typically drops due to the heat and fewer major retail buying occasions.

Competition for ad space is heating up, with seafood and pork leading the way, each capturing 25.8% of retail buying opportunities this week. Beef follows with 22.4%, unchanged from the previous week. Chicken has increased to 17.7%, up from 16.4% last week. Eggs account for 4.5%, with most feature activity...

The Retail Rundown: Grocers Vie with Foodservice During Peak Travel Season

Summer is usually the peak demand period for foodservice, as warmer weather encourages vacation plans and out-and-about activities. As more consumers embark on trips, spending is typically increased at restaurants and bars.

Data released by the U.S. Census Bureau on Tuesday showed that restaurant business rose 0.3 percent last month, likely supported by the summer travel season. Overall retail sales in June remained unchanged from May, outpacing expectations for a decline. Stock futures climbed following the stronger-than-expected data, sending the Dow Jones Industrial Average to... 

Walmart's Grocery Network Transformation: The Next Steps on Our Supply Chain Modernization Journey

In the last several years, something has become very clear: Walmart customers love options. From the strength of our delivery business to our innovative aisles in-store and online, we’re witnessing shoppers make use of every opportunity to save money and live better.

As customers change the way they shop, we’re taking steps to build even more trust with them, ensuring the things they want – and need – are on shelves faster than ever before. To do that, we've been investing... 

The Retail Rundown: Dog Days Dull Buying Occasions

Holiday retail meat clearance last week was reported as mostly positive albeit a bit scattered due to varying weather conditions across the country. This week, extreme heat and record temperatures are expected to persist in the Western and Eastern U.S.

The sweltering conditions that typically accompany the dog days of summer make it challenging for retail to capture regular meat purchases. The egg case also typically sees fewer purchases around this time of year as consumers opt for cold breakfasts like cereal and fruit...

Gen Z Discovers Costco , Sam's Club and the Joy of Buying Groceries in Bulk

With food prices still high, shoppers look for ways to team up with roommates, neighbors and family

Young adults are battling sticker shock at the grocery store by supersizing their groceries. They are turning to bulk purchases, splitting their food costs with friends, roommates, family and neighbors.

Shoppers in their 20s and 30s are trying to fight higher prices by joining warehouse-store giants such as Costco and Sam's Club.

Generation Z shoppers represent the fastest-growing member group at Walmart-owned Sam's Club...

The Retail Rundown: Retail Segment and Temperatures Heat Up Ahead of Holiday

The retail segment is heating up for the July 4^th holiday, as are the temperatures across the country.

Scorching heat along with the holiday falling on a Thursday could dampen this year’s cookouts. Residents in the south-central and West Coast are in the midst of a dangerous and record-breaking heat wave, with blistering temperatures forecast to extend into next week.

Meanwhile, severe weather including flash flooding and strong wind gusts is possible over the next few days across the Plains and Midwest, according to the National...

Conagra Brands Debuts Dynamic Collection of New Products

Conagra Brands, Inc., one of North America's leading branded food companies, has unveiled an exciting line-up of innovation this summer, bringing more than 50 new items to grocery shelves. With compelling arrivals in single-serve and multi-serve frozen meals, frozen vegetables and snacks, the new offerings from Conagra build on the company's impressive portfolio of industry-leading brands.

"We have a diverse collection of new food that offers something for every taste," said Burke Raine, President, Refrigerated & Frozen for Conagra Brands. "Our team has worked hard to...

Walmart Cooks Up Savings This July Fourth With Basket of Cookout Essentials for Eight, Priced Under $50

It’s officially summer and with the changing of the season comes warm weather, barbecues and time spent outdoors with friends and family. At Walmart, customers don’t have to worry about spending more to enjoy their favorite summertime gatherings with loved ones. Walmart is proud to offer its Every Day Low Prices all summer long, from the big celebrations like Fourth of July to all the little moments in between.

This year, The National Retail Federation has reported that consumers... 

The Retail Rundown: Fired Up for the Fourth

A recap of protein sales over the Father's Day weekend showed beef in the lead with nearly $208.7 million in total sales, up from $181.8 million the week prior. The steak complex averaged $13.93 discounted, 10.5% higher year-over-year (YOY). Prices on T-bone ranged from $7.93 to $15.08 discounted while top loin averaged $12.04 discounted, down 57 cents from a year ago.

Holiday features at the seafood counter included fresh shrimp at $7.82 discounted, down 70 cents from last year. Tilapia ran at $6.47 discounted, up 2.1% YOY. Cod fillets were featured...

BJ’s Wholesale Club Names Dave Burwick to Board of Directors

BJ’s Wholesale Club Holdings, Inc., a leading operator of membership warehouse clubs, today announced that Dave Burwick has been named to the company’s board of directors, effective immediately. Mr. Burwick will serve as a member of the company’s Nominating and Corporate Governance Committee.

“We are pleased to welcome Dave to our board,” said Bob Eddy, Chairman and Chief Executive Officer. “Dave brings over 30 years of strategic leadership experience in the beverage industry. He has a strong track record of building brands and leading growth companies...

The Retail Rundown: Raising the 'Steaks' for Father’s Day

The Memorial Day and July 4^th holidays are popular burger occasions, whereas Father’s Day is typically geared toward steak consumption. Fittingly, grocers have upped the feature volume for steaks ahead of the upcoming holiday weekend.

Steaks currently make up 43.3% of total retail buying opportunities within the beef complex, up from 37.7% the week prior. Ground beef ads also saw a week-over-week advance, now holding 35.3% of beef’s total retail activity. Feature activity for roasts has eased as fewer households utilize their ovens during the hotter weather.

Meijer Makes Healthy Foods More Accessible for SNAP Participants

As part of its ongoing commitment to expand access to healthy foods, Midwest retailer Meijer is now accepting the use of Supplemental Nutrition Assistance Program (SNAP) benefits on its Meijer app, providing a more convenient option for customers to pay for groceries like fresh produce and milk.

The new payment capability was unveiled across all of its Midwest stores last week, enabling SNAP participants to pay for their Meijer app orders using an Electronic Benefits Transfer (EBT) card. The enhancement represents the latest way Meijer is increasing access to healthy...

The Retail Rundown: Focus Shifts to Next Big Cookout Event

Shoppers welcomed the unofficial start of summer over the Memorial Day weekend with grilling go-tos including hamburgers, ribs, and chicken parts. Circana data indicates ground beef sales totaled nearly $82.9 million last week, up from $68.4 million the week prior and outpacing $77.1 million during the same week in 2023. Beef ribeye also saw increased sales week-over-week, earning $32.3 million with distribution (the number of UPCs selling within the given aggregate) totaling 90,781—up from 87,175 the week prior...

BJ’s Wholesale Club Holdings, Inc. Announces First Quarter Fiscal 2024 Results

BJ’s Wholesale Club Holdings, Inc., today announced its financial results for the thirteen weeks ended May 4, 2024.

“During the first quarter, we delivered strong increases in membership, traffic and unit volumes. This resulted in revenue growth and market share gains in our clubs and at our gas stations. Our merchandising improvements and digital conveniences, grounded in delivering compelling value, are resonating with our members. We are also growing our footprint and remain on track for 12 new club openings this year,” said Bob Eddy...

United Natural Foods, Inc. Extends Distribution Partnership with Whole Foods Market to 2032

United Natural Foods, Inc. announced today that it has extended its wholesale grocery distribution partnership with Whole Foods Market, an affiliate of Amazon.com, Inc. (NASDAQ: AMZN), by entering into an eight-year extension agreement with the company to serve as their primary distributor. The term of the newly extended distribution relationship between the parties will now run until May 2032, replacing the term of the prior agreement, which was set to expire in September 2027.

“We are proud to extend our longstanding partnership with Whole...

Specialty Food Association Releases New Research, Understanding the Real Value of Specialty Foods 

The Specialty Food Association (SFA) has released a second edition of its groundbreaking research report, Understanding the Real Value of Specialty Foods. Built on interviews with 1,000 shoppers, 100 retailers, and other data points, the new report outlines the positive impact of specialty products on retailer profitability and shopper loyalty, impact that has only increased in importance since the first edition came out in 2014.

Describing the current moment as "an era of specialty food prominence," the report notes that sales of specialty products have...

The Retail Rundown: Ads Centered on Get Grillin’ Themes

This week's retail ads are centered on get grillin' themes as consumers stock up on burgers, hot dogs, and other barbeque staples for the upcoming Memorial Day holiday. 

For the holiday weekend, seafood features take the cake with 28.8% of total protein ad volume. Pork climbed to second with 23.7%, followed by chicken with 20%. Beef features eased to 19.3% of the mix, down about three points from the week prior.

Looking at seafood, fresh/frozen filets make up 31% of retail buying...

Kroger Celebrates Memorial Day with Backyard Grilling Bundle for as Little as $4 per Person

The Kroger Co. today shared it is celebrating Memorial Day with Locked-in-Low prices on grilling essentials as families gather in a day of remembrance. For as little as $4 per person, the barbeque bundle includes all the staples to commemorate the holiday.

"At Kroger, we are exceedingly grateful for the sacrifice, devotion and bravery of our armed forces who unselfishly gave their lives for the fundamental promise of American freedom," said Rodney McMullen, Kroger's chairman and CEO...

Walmart Opens High Tech Fulfillment Center in Greencastle, Pennsylvania

Walmart associates were joined by local elected officials and community members today to celebrate the grand opening of a new 1.5 million square-foot fulfillment center 10 miles north of Hagerstown, located at 1915 Ebberts Spring Court in Greencastle. This next generation facility will enable the retailer to fulfill more orders, more quickly.

"This is an exciting day for Greencastle, and we are thrilled to be the new home of Walmart's newest state-of-the-art fulfillment center," said Antrim Township Board of Supervisors Vice Chairman, Patrick Heraty...

PERDUE® Expands SHORT CUTS® Product Line with Two New Varieties

PERDUE® SHORT CUTS® Hickory Smoked Chicken Breast Strips and PERDUE® SHORT CUTS® Shredded Roasted White Meat Chicken Bring New Flavor and Preparation Techniques to Mealtime

PERDUE®, the number-one brand of fresh chicken in the U.S., announced the expansion of its SHORT CUTS® product line with the introduction of PERDUE® SHORT CUTS® Hickory Smoked Chicken Breast Strips and PERDUE® SHORT CUTS® Shredded Roasted White Meat Chicken. The new offerings tap into trending flavors and preparation techniques that...

The Retail Rundown: Memorial Day Promotions; Latest CPI Data

Spring is in the air… and the first inklings of summer are making a reappearance too. Memorial Day is less than two weeks out and grocers are enthusiastically preparing for the official start of the grilling season.

Cookout staples like charcoal, outdoor serving ware, grilling cuts, and all things barbeque are migrating toward the front page of circulars, bringing increased visibility to the meat case, deli counter, and prepared foods sections of the store. 

In the week leading up to Memorial Day weekend last year, 78-84% lean ground beef was...

2024 U.S. Grocery Shopper Trends Series: How Consumers Are Finding Value at the Grocery Store, FMI

Shoppers enjoy food shopping as much as ever, according to the latest annual survey by FMI – The Food Industry Association, conducted by The Hartman Group. The analysis kicking off this 2024 series, U.S. Grocery Shopper Trends: Finding Value, provides a crucial snapshot of consumer behavior and sentiment in the most frequently purchased consumer category amid ongoing concerns about the impact of inflation on the cost of groceries.

While consumer concerns about food inflation persist, FMI’s newly launched U.S. Grocery Shopper Sentiment Index, which accounts...

Pete & Gerry’s Broadens Distribution Partnership with Publix to Include Pasture-Raised Eggs

Pete & Gerry's, LLC, a pioneer in humane egg farming, today announced that Pete & Gerry's Pasture-Raised™ Eggs will now be available in all 1,400+ Publix Super Markets throughout the Southeast. Joining Pete & Gerry's Organic® and Nellie’s Free Range eggs in the egg aisle, the Pete & Gerry's Pasture-Raised is now on shelves in all Publix stores throughout Alabama, Florida, Georgia, Kentucky, North Carolina, South Carolina, Tennessee, and Virginia.

Introduced last year to the Pete & Gerry’s portfolio, Pete & Gerry’s Pasture-Raised Eggs are laid by...

The Retail Rundown: Showdown for Consumer Dollars this Mother's Day

Grocers and foodservice are preparing for a showdown with Mother's Day just a few days away. 

The upcoming holiday typically favors foodservice sales over retail as consumers celebrate their loved ones by visiting a dining establishment. According to the National Restaurant Association, 34% of consumers will dine out this Sunday, particularly during lunch and dinner. An additional 12% will order takeout or delivery.

However, retailers have a few tricks up their sleeves to get shoppers through the door by promoting deals on flowers, cards, gifts, and more. Grocers...

Publix Reports First Quarter 2024 Results and Stock Price

Publix’s sales for the three months ended March 30, 2024 were $15.1 billion, a 5% increase from $14.3 billion in 2023. Comparable store sales for the three months ended March 30, 2024 increased 2.8%. The company estimates sales increased 1% due to the effect of the Easter holiday being in the first quarter of 2024. In 2023, the effect of the Easter holiday was in the second quarter.

Net earnings for the three months ended March 30, 2024 were $1.4... 

The Retail Rundown: Maximizing May’s Buying Occasions

The grocery sector is maximizing several buying occasions this month as the change in weather and outdoor grilling season breathes new life into the meat case.

May brings about a seasonal shift as daily life bustles with spring activities like sports and outings—boosting the supermarket's convenience and snack food sections. Busy families will also frequent the deli counter more often and turn to quick dinners and frozen options for weekday meals.

Retailers are currently highlighting holiday items for Cinco de Mayo this Sunday. The upcoming holiday, which commemorates the anniversary of Mexico’s...