The US Sun

WALMART’S CEO has confirmed the chain dropped prices on over 7,000 products but costs won’t fall in a certain part of the store. Doug McMillon revealed how inflation has played a huge role in the prices on offer to shoppers, in a recent earnings call. The CEO said the chain has lowered the cost of […]

Walmart CEO confirms price drop on 7,200 items across stores – but shoppers will still feel a pinch in supermarket

Minneapolis, MN

CBS Sacramento

Target's comparable sales rose for the first time in a year as grocery aisle deals for cash-strapped customers began to pay off.Sales at stores and digital channels operating over at least the past 12 months rose 2% in the second quarter reversing months of declines, including a 3.7% drop in the previous quarter, and a 4.4% decline during the company's final quarter of last year.The number of transactions at the Minneapolis retailer increased 3% compared with the same period last year, with all six main merchandising categories, including fashion and home goods, showing strength. Online sales rose 8.7% and comparable...

Target says its price cuts are paying off as shoppers return

US consumers, strained by years of higher prices and interest rates, are changing where they shop. They are spending at discount chains like Target and Walmart and dialing back at Macy’s and Lowe’s.

Target slashed prices. It paid off

Amazon is deeply ingrained in many people's daily lives. Its advertising segment is taking off due in part to tiered pricing. The ubiquitous company is dominating its core business markets and gaining a foothold in others. Few companies have had a greater impact on how we live our lives day...

3 Reasons to Buy Amazon Stock Before August 1

“Our revenues have not grown as expected — and we’ve yet to fully benefit from powerful trends, like AI,” said CEO Pat Gelsinger in a memo to employees. “Our costs are too high, our margins are too low. We need bolder actions to address both — particularly given our financial results and outlook for the second half of 2024, which is tougher than previously expected.”

Intel to lay off 15,000 employees

960 The Ref

NEW YORK — (AP) — Walmart had another quarter of strong sales that topped almost all expectations with its comparatively low prices proving a powerful draw for millions who have struggled with rising costs for housing, groceries and almost everything else. The nation’s largest retailer also raised its...

Walmart grows more optimistic about 2024 as bargains prove a powerful lure for the inflation weary

WFC - Free Report) has announced a definitive agreement to divest its non-Agency third-party servicing segment of its Commercial Mortgage Servicing (CMS) business to Trimont. The transaction is expected to close in early 2025, subject to customary closing conditions. Wells Fargo will continue to service Agency/government-sponsored enterprise loans and loans...

Wells Fargo (WFC) to Divest Majority of CRE Loan Servicing Unit

Georgia State

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Atlanta, GA

Daily Coffee Press

A 40-year-old man has been sentenced to over 28 years in prison for distributing significant amounts of fentanyl and other controlled substances to dealers in the Middle Georgia region. Authorities revealed that investigators uncovered evidence linking the drugs provided by the defendant, 40-year-old Lagary Williams, also known as "Frog," from Atlanta, to a fatal overdose.

Atlanta Man Sentenced to 28 Years for Supplying Deadly Fentanyl Linked to Fatal Overdose

Crisp County, GA

On Wednesday, the Georgia Bureau of Investigation announced the arrest of 24 individuals following Operation Shyne Down. The GBI and other agencies served a total of 120 warrants on the suspects involved in the investigation, which targeted the criminal street gang G-Shyne Bloods and their involvement in criminal activities in Crisp County, Georgia.

Operation Results in More than 20 Charged with Gang Offenses, RICO, and more

Reuters

NEW YORK (Reuters) - Walmart's stake in Chinese e-commerce firm JD.com was once central to its China strategy. Now it is tearing up that playbook by unloading its entire $3.74 billion stake in one of China's biggest online retailers, in another example of the volatile nature of its relationship with China.

Analysis-Walmart tears up China online strategy with JD.com stake sale

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Unbeatable Walmart Deals Offering Everything You Need Under $10 Daily

Colorado State

David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

Business Insider

The entertainment giant reported weaker-than-expected results in its theme parks division, highlighting a broader consumer spending pullback.

Disney's theme parks are struggling, and it's another warning sign for the economy

Jason Snipe of Odyssey Capital Advisors and Jason Ware of Albion Financial Group discuss the commentary Home Depot and Lowe's gave in their earnings calls about the state of the consumer, and why the stocks have gone in different directions.

Making the case for Home Depot or Lowe's: Two top investors weigh in

Missouri State

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CJ Coombs

Denny's was once a staple of the American diner landscape. In recent years, it has had its ups and downs, especially post-pandemic. The dining habits of people also change. Some customers have a more discerning taste.

Denny's: a legacy of serving customers for over 65 years including 27 locations in Missouri

Newark, NJ

Morristown Minute

NEWARK, N.J. – An Essex County man has been charged with numerous offenses related to narcotics distribution and firearms trafficking. Kyrell Domnie, 39, of Irvington, known by the alias "Fly Ky," was charged by complaint and appeared before U.S. Magistrate Judge Cathy L. Waldor in Newark federal court on July 17, 2024. He remains detained following the hearing.

Convicted Felon Faces Multiple Narcotics and Firearms Charges

Macy's missed second-quarter revenue and comparable store sales estimates as the retailer faced a tough consumer environment. The biggest U.S. department store chain operator also lowered its guidance because of the drop in sales and the need for more promotions. Macy's shares tumbled on the news. Macy's (M) shares slumped...

Macy's Sales, Outlook Decline as Retailer Faces 'Challenging' Environment

Coffee County, GA

Broxton, GA

This weekend, a man from Pridgen was charged after he allegedly became aggressive toward local deputies who were working security detail at a location in Broxton. According to the report, the suspect threatened to kill the deputies during the incident, which led to his arrest.

Man Charged with Threatening Coffee County Sheriff's Office Deputies

New York Post

Macy’s slashed its annual sales forecast on disappointing second quarter earnings as the iconic department store struggles to win over inflation-battered customers. 

Macy’s shares plunged 13% to $15.45 on Wednesday.

The retailer has been forced to cut prices and offer more promotions on its mid- to high-end goods to compete with affordable rivals — but it still lost out on sales. 



The company maintained its annual profit expectations. 

The everyday shopper has pivoted to prioritize value, turning to big-box competitors offering low prices on essentials like Target and Walmart. 

The two chains recently raised their yearly forecasts on high earnings that beat...

Macy’s slashes sales outlook as iconic retailer struggles to lure cash-strapped shoppers

For the quarter ending Aug. 3, Macy’s made a profit of $150 million, or 53 cents per share. This is significant as the company reported a $22 million loss, or 8 cents per share, for the same period last year. However, as consumers deal with an eroding dollar, net...

Macy’s Earns a Profit in Q2 2024 Despite Decline in Net Sales

NewsBreak

Walmart, Amazon and Target are part of Zacks Earnings Preview

Chicago, IL – August 19, 2024 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes Walmart (. Walmart Earnings...

Walmart, Amazon and Target are part of Zacks Earnings Preview

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