Market Buzz& Industry News
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Amazon sets dates for Prime Day 202009/28/2020
Amazon.com will once again make its annual Prime Day a 48-hour event. This year’s promotion, which will run on October 13 and 14, is expected to be the e-tailing giant’s biggest sales event to date and one that it expects to give it a leg up heading into the Christmas selling season.
Grocers are stocked up for what comes next09/28/2020
Grocery wholesalers, retailer and their suppliers moved up their timelines and stocked up on food items that are likely to be in high demand during the Thanksgiving and Christmas period. They also have increased inventories of over-the-counter remedies and other products in high demand during the cold and flu season.
Food insecurity grows in America09/28/2020
Millions of Americans are recently unemployed and many others are making less than before the novel coronavirus pandemic hit. For these and the large numbers of people who were living in poverty before anyone knew what COVID-19 was, food insecurity is a daily and growing issue. Local food banks and other groups dispensing food and…
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Neiman Marcus CEO demonstrates he?s tone deaf09/28/2020
Geoffroy van Raemdonck, CEO of Neiman Marcus Group, which just emerged from bankruptcy is featured in the September issue of a magazine targeted to high-income earners. Mr. van Raemdonck and his husband Alvise Orsini are photographed sitting on a “custom sofa . . . upholstered in silk velvet.” The timing of the article is, at…
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American Eagle soars high above the competition09/28/2020
American Eagle Outfitters (AEO) saw a much lower rate of sales decline as stores were forced to close during the pandemic and the retailer’s Aerie banner posted a 32 percent increase in revenue. The retailer’s focused approach on listening to and meeting the needs of Gen Z consumers appears to be the difference-maker for AEO.…
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Federal judge puts temporary block on Trump?s TikTok ban09/28/2020
A federal judge has issued an order temporarily blocking the Trump administration from banning downloads of the TikTok video app from U.S. app stores. TikTok said the company would continue talks with the Trump administration after it reached a deal in principle with Oracle and Walmart to take a 20 percent stake in its North…
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Most Americans don?t want Postal Service run like a for-profit business09/28/2020
Americans by a two-to-one majority, according to a Washington Post/University of Maryland poll conducted by Ipsos, think the United States Postal Service should be run like a public service and not a business focused on cutting costs and turning a profit.
Cream of Wheat dropping Black chef graphic from its packaging09/28/2020
The Black chef graphic at the top of Cream of Wheat packages in being phases out after the brand’s owner, B&G Foods, decided that the imagery “inadvertently” contributed to racial stereotypes and racism.
Target adding 130K workers for the holidays09/25/2020
Target plans to add 130,000 workers as it prepares to handle the holiday rush. The retailer will dedicate twice as many associates to same-day curbside and in-store pickup as part of its greater focus on fulfilling online orders.
Internal Post Service documents show top-down plan to slow deliveries09/25/2020
Internal documents show that the U.S. Postal Service put operational changes in place that led to mail being delivered late across the country in recent months. The push to cut hours for postal delivery employees was made in a July PowerPoint presentation by David Williams, chief of logistics and processing operations at the agency.