News Briefs

Construction materials prices continued to increase in May. 

Overall construction input prices (includes materials, energy and equipment) increased 0.2% in May compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Commercial construction input prices increased 0.3% for the month and are up 2/3% higher than a year ago.

The accelerating input price escalation is largely due to rapid price increases for tariff-affected goods like iron and steel, said ABC chief economist Anirban Basu.

 “Expect this dynamic to remain over the next few quarters,” he advised. “These data predate tariffs on iron and steel rising from 25% to 50%, which went into effect on June 4.”

The price of steel mill products rose 7.1% in May compared to April, while iron and steel prices increased 3.2%. Prepared asphalt, tar roofing and siding products prices rose 3.7%.

 “While input prices are up just 1.3% over the past year, that modest escalation is entirely due to price decreases during the second half of 2024,” Basu said.”Costs have increased rapidly since the start of this year, with input prices rising at a 6% annualized rate through the first five months of 2025.”

In some good news, prices decreased in two of the three  energy categories in May. Natural gas prices were down 18.7%, while prices for unprocessed energy materials were down 3.5%. Crude petroleum prices increased 1.3% in May.

Associated Builders and Contractors is a national construction industry trade association established in 1950 with 67 chapters and more than 23,000 members.

Consumers are remaining uncertain about the future in the face of impending tariffs.

According to new data from Numerator, 26% of those surveyed in May think their finances will be better than they are now (no change from April), 50% think they’ll be the same (+2 points), and 24% think they’ll be worse (-2 points). 

The May Consumer Confidence Score was 54.9 (-0.1 points vs. April), which is an average of how consumers feel about the job market, their household finances, and their spending comfort levels.

Despite 47% of consumers saying their household’s financial situation is currently good or very good, more than a third (34%) of consumers say they are spending less overall. To save money, consumers told Numerator they are are shopping for items on sale (40%), using coupons/discount codes (40%) and cooking at home (39%)

Nearly four-in-10 (38%) consumers say they are very or somewhat comfortable spending money on discretionary purchases right now (-1 point from April). Consumers with spare cash say they’re putting it in savings (35%) and paying down debts (32%), while 13% of consumers say they do not have any spare cash. More than a quarter (27%) of consumers say they will use spare cash to vacation or travel, down 0.4 points vs. April and down 3.3 points vs. last year.

[READ MORE: Survey: Consumers already seeing prices rise; to cut back this summer]

Starbucks Corp. will provide baristas in select stores with tablet-based access to artificial intelligence assistance for their jobs.

The coffee giant is implementing a generative AI solution designed to assist store associates with performing routine tasks at 35 stores during June 2025. The tool is known as "Green Dot Assist" and based on the Microsoft Azure OpenAI generative AI platform.

Loaded on an iPad located behind the counter, Green Dot Assist will enable associates to ask an AI chatbot verbal or typed questions such as how to prepare a specific order or fix a mechanical issue, using natural conversational questions, and receive instant, conversational responses.

"This marks a significant step forward in our commitment to streamlining operations, reducing friction, and giving partners more time to focus on crafting beverages and connecting with customers," said Deb Hall Lefevre, executive VP/CTO, Starbucks.    

Starbucks will pilot Green Dot Assist in 35 of its stores, with more on the way. The retailer plans widespread rollout across locations in the U.S. and Canada starting in fall 2025. 

"This is a new era of innovation at Starbucks — one where AI enhances the partner experience and strengthens the connection between baristas and customers," said Lefevre.

Brian Niccol, the former Chipotle CEO who took the reins of Starbucks in September, previously said it is clear that the company needs to “fundamentally change” its strategy to win back customers, including a new goal of customers receiving their orders in four minutes or less. 

[READ MORE: Starbucks’ new strategy includes four-minute service, cozier cafes, simpler menu

GameStop reported its fourth-consecutive quarterly profit even as its sales continue to decline and its footprint continues to shrink.

The long-struggling video game retailer posted net income of $44.8 million, or $0.09 a share, in the quarter ended May 3, compared to a net loss of $32.3 million, or $0.11 a share, in the year-ago period. Adjusted earnings were $0.17 a share, topping analysts’ estimates of $0.8 share. 

A resale retailer of luxury handbags and accessories is bringing a selection of its wares to Amazon.

Rebag is offering a curated assortment of nearly 30,000 pre-owned luxury items, including designer handbags, jewelry and watches, in collaboration with the Luxury Stores at Amazon online store. The collection will include brands such as Hermès, Louis Vuitton, Rolex and Cartier, offered with Amazon’s shopping experience and fast shipping and Rebag’s inspection and verification process.

"Rebag is thrilled to work with Luxury Stores at Amazon and to redefine how customers shop for pre-owned luxury," said Charles Gorra, CEO & founder of Rebag. "This collaboration enables us to connect with a broader audience and meet the growing demand for sustainable luxury fashion in a way that’s convenient and trustworthy."

Luxury Stores at Amazon offers an immersive shopping experience aimed at fashion-conscious consumers. Saks Fifth Avenue also recently started offering a curated assortment of fashion and beauty products via a dedicated Luxury Stores at Amazon storefront.

[READ MORE: Saks opens luxury storefront on Amazon]

Rebag expands collaboration strategy

Rebag has been launching a variety of new partnerships in the past year, including a collection available on Walmart Marketplace and an initiative that made a curated selection of more than 2,500 designer handbags, watches and jewelry available on Bloomingdales.com. 

In addition, more than 500 items will be featured in five select Bloomingdale's stores. Rebag has also entered a partnership with online resale platform ThredUp that allows customers to sell items via ThredUp for Rebag shopping credit and also enables ThredUp customers to shop select Rebag inventory directly on the ThredUp site.

Founded in 2014, Rebag is a digitally native company with retail locations in New York, Los Angeles, and Florida.

Consumers are taking an omnichannel approach when it comes to Father’s Day (June 15) shopping this year.

A new survey from NieslenIQ reveals that 69% of shoppers are expecting to look around stores in person for gifts, while 66% are expecting to explore shopping websites. Three-quarters (74%) of those surveyed across demographics plan to buy items from Amazon for the holiday, showcasing the retail giant's reach.

However, nearly all (nine-in-10) Amazon shoppers also expect to shop at other places. After Amazon, the most popular retailers include mass merchandisers (41%), department stores (26%), home improvement stores (25%) and sporting goods chains (22%).

The most popular gifts for dad include apparel, footwear and men’s fragrances, followed by gift cards, sporting goods and home improvement items. Two-in-five shoppers say they plan to use gift guides to find items this Father’s Day, while 20% plan to use social media or influencer recommendations to help choose gifts.

According to a recent estimate from the Nation Retail Federation, Father’s Day spending will reach a record $24 billion this year. The figure is up from last year’s $22.4 billion and exceeds the previous record of $22.9 billion in 2023.

“Forty-seven percent of shoppers plan to spend more than last year, despite inflation concerns,” said Nim Sharon, VP of tech & durables at NielsenIQ. “For brands, the key to winning is clear: Offer value, variety and inspiration to capture consumer interest in one of the biggest gifting seasons of the year!”

[READ MORE: Survey: U.S. shoppers already worried about rising costs of holiday essentials]