News Briefs

Walmart wants to help educate its employees and customers about important financial topics.

The retail giant has teamed up with Khan Academy as its founding sponsor to offer a new, free financial literacy course for its employees, customers and communities. (Khan Academy is an American non-profit educational organization with a mission to provide a free, world-class education for anyone, anywhere.).

The virtual course offers articles, videos and exercises designed to master personal finance skills, which can help strengthen financial capabilities, reduce stress and make choices that lead to a healthier financial future, the company said. 

“With a reported 72% of Americans feeling stressed about money during the previous month, we know providing access to personal finance resources is more important now than ever,” wrote Kim Lupo, VP, global total rewards, Walmart, in a post on the retailer’s website.  

The course is designed to take participants from familiarity to mastery by using a learn-at-your-own-pace, classroom-style approach. Several key financial topics are covered in the comprehensive training, including:

• Budgeting and saving; 
• Consumer credit; 
• Financial goals; 
• Loans and debt; 
• Insurance; 
• Investments and retirement; 
• Scams and fraud; 
• Careers and education; and 
• Taxes 

“Our partnership with Khan Academy is an example of one of the many commitments we’re making to invest in financial tools to help people live better,” Lupo said. “We believe offering these unique financial offerings will empower people to live their best lives – in and out of the workplace.”

 

An veteran retailer with more than 30 years of leadership experience in the operational supply chain and logistics industry has joined Starbucks Corp.’s supply chain team.   

The coffee giant has appointed Arthur Valdez as executive VP, global supply and customer relations. Valdez recently retired from Target Corp., where he served for seven years as executive vice president and chief supply chain and logistics officer, overseeing all functions of Target’s global supply chain and logistics network.

Prior to Target, Valdez spent nearly 17 years at Amazon, with roles that included VP operations international expansion (supply chain, fulfillment centers, transportation, and VP worldwide transportation.

Valdez  has spent his career building customer experience network solutions and solving problems across many key business areas – from product inventory management, retail store operational efficiency, manufacturing, distribution and fulfillment to transportation, Starbucks said in post on its website. These geographical networks span North, South and Central America, as well as across Europe and Asia.

 

Costco Wholesale Corp. is thinking big in California.

The membership warehouse club retailer is proposing to build a location in Fresno, Calif., that would include a main building of more than 241,000 sq.ft., with 47,000 sq. ft. dedicated to a market delivery operation of large and bulky items, reported gvwire.com. If approved and built, it would the largest Costco to date. (A 235,000 sq. ft. Costco in Salt Lake City currently holds the title.)

The 22.4-acre site in Fresno would also include a Costco gas station with 32 fuel pumps and an automated car wash. A total of 889 parking stalls are planned, the report said.  The store would replace a smaller Costco in Fresno that is located less than three miles away.

A draft environmental impact report for the project was recently approved by the city of Fresno’s Planning & Development Department for a 45-day public comment period through August 25. 

Costco operates 855 warehouses, including 587 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 32 in Japan, 29 in the United Kingdom, 18 in Korea, 15 in Australia, 14 in Taiwan, four each in China and Spain, two in France, and one each in Iceland, New Zealand and Sweden. Costco also operates e-commerce sites in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan and Australia.

 

 

Ross Stores is delivering on its 2023 expansion plans.

The off-price apparel and home goods retailer recently opened 18 Ross Dress for Less stores and nine DD's Discounts stores across 14 states in June and July. The new locations are part of the company's plans to add approximately 100 new locations during fiscal 2023, including 75 Ross stores and 25 DD’s Discount outlets.

This summer, Ross Dress for Less opened its inaugural six stores in the state of Michigan. DD’s expanded its presence in Arizona, California, Florida, Georgia, Oklahoma and Pennsylvania.

"These recent openings reflect our ongoing plans to continue building our presence in both existing and newer markets," said Gregg McGillis, group executive VP, property development. “Looking ahead, we remain confident in our ability to grow to at least 2,900 Ross Dress for Less and 700 DD’s Discounts locations over time."

Together, Ross Dress for Less and DD’s Discounts currently operate a total of 2,061 locations in 41 states, the District of Columbia, and Guam. The total includes 1,722 Ross locations in 41 states and 336 DD’s stores in 22 states. The company posted fiscal 2022 revenues of $18.7 billion.

Consumer sentiment in July reached its highest level in nearly two years even as inflation expectations inched up.

The University of Michigan’s index of consumer sentiment  rose for the second straight month, increasing 13% over June to a preliminary July reading of 72.6.  It was the highest level since September 2021.

All components of the index improved significantly in July. Consumers’ view of current economic conditions rose to 77.5, up from 69.0 in June.  The expectations index rose to 69.4, up from 61.5 in June. 

“Overall, sentiment climbed for all demographic groups except for lower-income consumers,” said Joanne Hsu, surveys of consumers director, University of Michigan. “The sharp rise in sentiment was largely attributable to the continued slowdown in inflation along with stability in labor markets.”

Year-ahead inflation expectations were little changed, inching up from 3.3% in June to 3.4% in July and down from the high point of 5.4% from April 2022. 

 Long-run inflation expectations were also virtually unchanged from June at 3.1%, again staying within the narrow 2.9-3.1% range for 23 of the last 24 months.

 

A century-old brand has made its U.S. brick-and-mortar debut.

Etam has set up shop at Simon’s Dadeland Mall in Miami. The 3,100-sq-ft. store has a modern look, with nude tones, blonde woods, waxed concrete walls with electric neon touches and brushed brass furnishings. The design strikes a balance between the feminine and urban universes. 

Product benefit and brand messages are inlaid on every wall, along with and customer reviews to guide customers in their selection choice and better understand the brand.    

“Etam is a global brand that we believe has a strong brick-and-mortar future in the U.S. said Zach Beloff, VP of leasing at Simon, in an April release. “We hope to see them expand throughout our portfolio."

Founded in 1916, the storied — and affordable — French is known for its stretch lace, mix-and-match lingerie sets. It also offers swimwear, sleepwear and loungewear. With more than 850 stores throughout Europe, Middle East, Latin America and Asia, the company is aiming to open two more U.S. stores by the end of the year, reported Women’s Wear Daily.

Etam first entered the U.S. market in 2022, starting with an online presence and making its products available in select Nordstrom locations and on the retailer’s web site.  

In 2020, Etam unveiled its sustainability program WeCare and announced its participation in The Fashion Pact, a global environmental coalition of leading fashion and textile brands. 

Etam opened its first Paris boutique in 1928 on Rue-Saint Honoré.