Financial news: Page 2

Costco sales jump on strong fresh food demand

Grocery sales have been so strong that the retailer has seen shrink virtually disappear: "We don't have spoilage. We sell out, not literally but almost literally to the piece," CFO Richard Galanti said Thursday.

By Sam Silverstein • Sept. 25, 2020

Stop & Shop, Ingles announce new worker bonuses

Ingles will give an extra $300 to full-time associates and $150 to those working part-time, while Stop & Shop is granting payments worth 10% of hours worked between July and August.

By Sam Silverstein • Sept. 25, 2020

Grocery sales dip as restaurant sales pick up

While restaurant sales industrywide accelerated 3.7% in August, grocery chains saw a 7% drop in dollar growth, according to data from M Science.

By Rosie Bradbury • Sept. 21, 2020

Grocery sales dip in August as overall retail spending picks up

Sales at food retailers fell 1.6% compared with their level in July as overall retail sales climbed 0.6%.

By Sam Silverstein • Sept. 16, 2020

Grocery foot traffic fully rebounds at major chains

Store visits to Albertsons, Kroger, Publix and Trader Joe's increased across the summer and are trending above 2019 figures, according to data from Placer.ai.

By Rosie Bradbury • Sept. 14, 2020

Asian e-grocer Weee charts ongoing expansion with $35M in funding

The California-based startup, which already turns a profit and recently added service in four new regions, will use the capital infusion to continue growing and recruiting.

By Jessica Dumont • Aug. 26, 2020

Target's Q2 sales powered by store traffic, same-day service gains

Grocery pickup, now available at more than 1,500 locations, helped drive a 273% increase across the company's click-and-collect and delivery services.

By Jeff Wells • Aug. 19, 2020

Ahold Delhaize's US digital sales soar 127%

Click-and-collect orders are fueling growth as the grocer steps up its e-commerce investments to capitalize on the seismic spending shift.

By Jeff Wells • Aug. 05, 2020

Publix's Q2 comps rise nearly 20%

The grocer recorded a 22% increase in net sales during the three-month period as shoppers stocked up during the early stages of the pandemic.

By Krishna Thakker • Aug. 04, 2020

Walmart cuts corporate jobs as it focuses on omnichannel push

Changes in the retail giant's merchandising and other teams have led to hundreds of layoffs, according to Bloomberg. 

By Ben Unglesbee • July 31, 2020

Amazon's online grocery sales triple in Q2 as Prime spending swells

The e-tailer also tripled the number of locations offering grocery pickup as it quickly built up capacity during the pandemic.

By Jeff Wells • July 31, 2020

Blue Apron gains steam during COVID

The meal kit company reported its first profit since going public as it gained 20,000 new customers and saw order value and frequency rise. 

By Jessica Dumont • July 30, 2020

Albertsons Q1 sales moderate after hot start

The grocer recorded same-store sales of 27% after earlier reporting a 34% rise during the first eight weeks of the quarter.

By Jeff Wells • July 27, 2020

Grocery demand forecaster Shelf Engine raises $12M

The artificial intelligence startup, which helps food retailers order products based on anticipated consumer demand, plans to use the money to beef up its engineering staff.

By Sam Silverstein • July 27, 2020

Major chains reset pension agreements with the UFCW

Kroger, Albertsons and Stop & Shop tentatively agreed to withdraw from the union's main pension fund and establish variable annuity pension plans in its place.

By Jeff Wells • July 22, 2020

Misfits Market plans to double its e-commerce capacity

The company is using $85 million in new funding to staff up and open a new warehouse as COVID-19 drives demand.

By Jessica Dumont • July 22, 2020

Grocery sales decline in June as retail and restaurant options expand

The industry still posted a year-over-year sales gain of 11.7% as consumers remained heavily reliant on supermarkets amid the pandemic.

By Sam Silverstein • July 17, 2020

Kroger halts distributing coin change

The retailer has come up with alternatives for customers who pay with cash, including rounding up their purchase to support its Zero Hunger, Zero Waste initiative or loading the balance onto their loyalty cards.

By Jessica Dumont • July 14, 2020

Uber buys Postmates in $2.65B deal

Uber Eats gains the fourth-largest food delivery company in the U.S. just weeks after its failed merger with Grubhub. 

By Julie Littman , Emma Liem Beckett • July 06, 2020

Grocers pull social media ads as pressure on Facebook mounts

Grocers including Albertsons, Southeastern Grocers and Target have joined a growing list of advertisers pressing social media platforms to combat hate speech.

By Sam Silverstein • July 01, 2020

USDA predicts grocery prices will see their largest annual increase since 2011

The average increase of 3% is due in part to the surge in demand for meat, poultry and fish caused by the pandemic.

By Krishna Thakker • June 29, 2020

U.S. coin shortage hits grocers hard

The National Grocers Association along with several other industry groups have called on the federal government to quickly address the issue. 

By Jessica Dumont • June 25, 2020

Online grocery startup Dumpling raises $6.5M

The Instacart competitor plans to invest the money in technology enhancements and tools that help gig workers start their own delivery services. 

By Jessica Dumont • June 18, 2020

Kroger's omnichannel investments pay off big in Q1

Store comps grew 19% and digital sales rose 92% as the grocer capitalized, both in stores and online, on the boom in at-home eating.

By Jeff Wells • June 18, 2020

Albertsons prices IPO below expected range

The grocery chain is going public at a price of $16 per share, lower than the $18-to-$20 level it had expected.

By Sam Silverstein • UPDATED: June 26, 2020 at 11:12 a.m.