News

Home Depot sets new records in Q2; raises forecast
The spring selling season was a busy one for the nation's largest home improvement retailer as Americans continue to spend money on their homes — both new and existing ones. A pair of home improvement records were broken in Home Depot's second quarter as the Atlanta-based retail giant reported the highest quarterly revenue in its history. The retailer also set a new high for net earnings.
Off-price giant shines in Q2; sees plenty of room for store growth
TJX Companies reported second-quarter revenue and earnings that beat the Street, fueled by strong traffic across all its brands. Total sales rose 6% to $8.36 billion, beating analysts' estimates of $8.29 billion, in the quarter ended July 29. Same-store sales rose 3% for the quarter, also better than expected. By brand, same-store rose 7% at Home Goods and TJX Canada; 2% at Marmaxx (TJ Maxx and Marshalls); and 1% at TJX International.

Walmart CEO: Trump missed ‘critical opportunity’ to unite country

The CEO of the nation's largest private employer has criticized the administration’s response to the violent protests in Charlottesville, Virginia. In a note to Walmart employees posted on the company's website, CEO Doug McMillon said that President Trump "missed a critical opportunity" in his initial reaction to the "tragic events" that occurred in Charlottesville, Va. But he called Trump's follow-up remarks on Monday "a step in the right direction."
Retail sales rebound in July to a yearly high

Shoppers turned out in force in July, driving retail sales to their largest gain since December 2016. Retail sales in July increased by 0.6% June on a seasonally adjusted basis, triple the revised 0.2% growth seen in June, according to the National Retail Federation. Sales have increased by 3.5% year-over-year. (The NRF numbers exclude automobiles, gasoline stations and restaurants.)
Vitamin Shoppe launches online subscription service — with a hook

Taking a page out of Birchbox's play book, The Vitamin Shoppe is going to be sending out personalized sample boxes of new products.
Moody's: Amazon to ‘kick start’ its grocery business with purchase of Whole Foods Market

Moody's Investor Services is feeling positive about Amazon's plans to acquire Whole Foods Market. The ratings agency assigned the deal a Baa1 rating and revised Amazon’s credit outlook to positive from stable, reported Marketwatch. The report also said that Amazon is planning to issue up to $16 million in debt to fund the online giant's acquisition of Whole Foods.
Q&A: Why Target is acquiring Grand Junction

Target is looking to expand its delivery capabilities by acquiring Grand Junction, a transportation technology company. Arthur Valdez, Target’s executive VP, chief supply chain and logistics officer, and Rob Howard, CEO of Grand Junction, discussed the acquisition in the following Q&A, posted on the retailer's website. Why did Target decide to acquire Grand Junction?
Beauty giant gives loyal shoppers their own ‘chat-room’

Sephora’s new service strives to connect customers while they shop. The specialty retailer launched a digital platform that invites customers enrolled in its Beauty Insider loyalty program to connect and chat about all things beauty. The mobile and online platform serves as a destination for members to find inspiration, ask questions and get recommendations in an unsponsored, real-time social setting.
Aldi turns up the heat in already competitive supermarket industry

German discount grocer Aldi is jumping into home grocery delivery. The retailer announced a pilot program with Instacart, the on-demand grocery delivery service. Starting later this month, the service will be available in Atlanta, Dallas, and Los Angeles, with potential for future expansion.
Regulatory Wrap-Up: Updates on wage increases, NAFTA and transportation

Wages
Arizona: The state supreme court rejected an attempt to nullify a voter-approved statewide wage law that went into effect Jan. 2017. The mandate requires employers to provide three days of paid leave and increases the minimum wage to $12/hr. by 2020. The current statewide wage is $10/hr.