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

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

Reuters

(Reuters) -Macy's lowered its annual net sales forecast on Wednesday, blaming higher promotions and weak demand for upscale apparel and accessories from deal-hungry consumers in the U.S., sending its shares down 12%.

Macy's forecasts sales hit from steep promotions, uneven demand

The Associated Press

NEW YORK (AP) — Macy’s swung back to a profit in its second quarter but suffered yet another sales decline as inflationary weary shoppers rein in spending, with their focus increasingly on buying the essentials.  The company, which also operates upscale Bloomingdale’s stores and cosmetics chain Bluemercury, cut its annual sales forecast given what it called “a more discriminating consumer” and the need to roll out more sales to entice them.  The company reported a profit of $150 million, or 53 cents per share, in the three-months ended Aug. 3, topping Wall Street expectations for per-share earnings of 30 cents, according to a survey by FactSet. It’s also a rebound from the loss of $22 million, or 8 cents per share, in the same period a year ago.  Yet sales fell nearly 4% to $4.94 billion, from $5.13 billion last year, and below the $5.06 billion that industry analysts were looking for. 

Macy's swings to a second quarter profit, but sales surprisingly weak as customers grow cautious

Walmart said to CNBC the decision to sell its stake will allow the company to "focus on our strong China operations for Walmart China and Sam's Club, and deploy capital towards other priorities." Walmart entered into a strategic alliance with the Chinese company in June 2016. In its 2023 annual...

JD.com leads losses in Hong Kong, falling 10% after Walmart confirms stake sale

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community_voice

NewsNinja

A lady is cautioning others about purchasing budget earrings from Amazon, Shein, and H&M, after she experienced keloid formations on her earlobes due to wearing them. On a TikTok post that has garnered more than 334,000 likes, Sailor Rozema (@sailor.rozema), a content creator, shares a warning with her community of "dangly earring girls": the inexpensive jewelry found in fast fashion can have negative impacts on your well-being.

‘I’ll never be wearing earrings for the rest of my life’: Customer warns against buying from Shein

NBC News

Starbucks on Tuesday reported quarterly revenue that missed analysts’ expectations as both its U.S. and international cafes faced weaker demand. Shares of the company rose more than 1% in extended trading. Here is what the company reported compared to what Wall Street was expecting, based on a survey of...

Starbucks is reeling as customers go elsewhere, sales decline

Colorado State

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

contributor

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

TheStreet

This is what could happen next to American Express shares

American Express stock analyst flags concerning shift in consumer behavior

Denver, CO

In addition to collecting more than 8,000 used needles in the past year from Denver drug users, the Harm Reduction Action Center passed out 10,000 meth pipes and “snort kits,” according to a newsletter sent to its supporters Thursday. They also connected about 1,700 people to medical, mental health and substance abuse treatment.

Denver group hands out 10K meth pipes, ‘snort kits,’ connects 1,700 to treatment annually

Cooking With Maryann

I love macaroni salads, and this is truly a special one. It's got something for all of the tastebuds and textures. Soft, crunchy, chewy, sweet, savory, tart, creamy, and oh so fresh! Here's what you'll need to make 8-10 side servings:

Amish Macaroni Salad

Health oriented consumers are driving demand for a burgeoning category of drinks called “functional beverages” — drinks that producers tout as having health benefits because they have been infused with herbs, amino acids, CBD, and other bioactive compounds. On the Wagon. Or is it Off the Wagon?

The Hot Trend for Americans Cutting Back on Alcohol, If Only a Little

There’s no room for price gouging in a ultra-competitive business like retail, Target CEO Brian Cornell said on Wednesday. In an interview on CNBC’s “Squawk Box,” the retail chief disputed campaign talking points accusing grocers of inflating prices. He said retailers have to be responsive to customers or risk losing business.

Target CEO addresses 'price gouging' accusations in retail

Salem, OH

Northern Kentucky Tribune

Every day, 8-year-old Emma sits in a small garden outside her grandmother’s home in Salem, Ohio, writing letters to her mom and sometimes singing songs her mother used to sing to her.

Thousands of parents die of overdoses; advocates say their kids need more help

PYMNTS

The home improvement market could use some improvement itself. That’s the latest from Lowe’s Companies Inc. During its second-quarter 2024 earnings call Tuesday (Aug. 20), the company revised its annual forecasts downward, citing a challenging macroeconomic environment dampening consumer spending on home improvement projects. As a result, and...

Lowe’s Looks to Grow With Pros as Consumer Demand Dwindles

Virginia State

Kentucky Vibes.net

Disclaimer: This article was written with the help of A.I. software. Meghan Markle's venture into the lifestyle space has not been met with universal acclaim, particularly from one well-known figure: Martha Stewart. Earlier this year, in March, Meghan unveiled her new lifestyle brand, American Riviera Orchard. The brand immediately drew comparisons to other celebrity wellness empires, particularly that of culinary icon Martha Stewart. However, these comparisons have reportedly struck a nerve with Stewart, who finds them both "irritating and insulting."

Meghan Markle 'Insulted' Martha Stewart as She 'Won't Hesitate to Take Her Down

A source explained to People Magazine the reasons Jennifer Lopez decided to file for divorce from Ben Affleck on August 20. Simply put: The source told People that Affleck had shown no interest in trying to fix the couple’s young marriage. Lopez finally decided “it’s time to move on,”...

Jennifer Lopez Had ‘Sad’ Reasons for Filing for Divorce: Report

Target is luring back inflation-weary shoppers. Sales at the retail giant grew 2% from a year ago in the second quarter, the company said early Wednesday. That’s a strong reversal from a 4% decline in sales in the first quarter, as Target struggled in the inflation economy. Suggested Reading.

Target’s price cuts are finally paying off

(Reuters) - CoverGirl parent Coty missed fourth-quarter revenue expectations on Tuesday, impacted by its divestiture of Lacoste fragrance license and controlled orders from cautious retailers, which weighed on growth in prestige and mass-market perfumes.

Coty misses revenue estimates on cautious retail orders, Lacoste license sale

Georgia State

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

NewsBreak

Target and TJ Maxx Win Big By Keeping Prices Low

If last week’s data dump from the US Commerce Department showing white-hot consumer spending in July was the shot, this week’s news is the chaser. On...

Target and TJ Maxx Win Big By Keeping Prices Low

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