Financial News

Costco Wholesale ended its fiscal year on a strong note as consumers continued to shop its stores to stock up on items amid the pandemic.

A new shopper survey from Mercatus and Incisiv expects sales of groceries online to account for 21.5% of total grocery sales by 2025, an estimate of $250 billion.

Consumer spending slowed in August as some federal relief measures, including the $600 weekly unemployment subsidy, ended in July, according to a new report by the National Retail Federation.

Kroger’s net income totaled $819 million, sales rose to $30.49 billion from $28.17 billion last year, and digital sales doubled up 127%.

About nine out of 10 consumers trust private brands as much as they do national brands, according to a new report from Daymon.  The company's 2020 Private Brand Intelligence Report, “The Future of Private Brands,” also found that 86% of U.S.

Edgewell Personal Care announced the closing of its previously announced acquisition of Cremo.

Dollar General reported a Q2 net sales increase of 24% to $8.7 billion from $7 billion and promoted Kathy Reardon to executive vice president and chief people officer.

Walmart sees e-commerce and advertising potential in TikTok and has reportedly sought to partner with Microsoft in a purchase.

Dollar Tree revenue increased 9.4% in the second quarter ended Aug. 1, reaching $6.28 billion, and same-store sales increased by 7.2%.

For its second quarter, Target posted skyrocketing profits and strong quarterly same-store sales growth amid digital and store growth.

Walmart’s total revenue rose 5.6% to $137.74 billion, and same-store sales rose 9.3% with general merchandise and food leading the way.

For the second month in a row, retail sales nationwide saw an increase over the previous month, but the month-over-month increases have been slowing down since May.