McDonald's sells Krispy Kreme, GameStop struggles, and Chipotle's avocado robot: Retail news roundup
Home Depot is getting into roofing with its biggest deal ever. An Hermès expert says the coveted bags are worth more than gold. Trader Joe’s is raising the price of its bananas for the first time in twenty years.
Meanwhile, McDonalds and Krispy Kreme are linking up to sell doughnuts, and Chick-fil-A is backtracking on antibiotics in chicken.
Check out those and more retail news highlights.
Home Depot is buying a roofing company for $18 billion — its biggest deal ever
Home Depot wants to be a major handyman. The largest home improvement retailer is spending $18.25 billion in its biggest deal ever.
A Costco rival is expanding
BJ’s Wholesale Club is planning a modest expansion in areas of the Southeast and Midwest in an effort to increase its footprint and consumer base.
Birkin bags are a better investment than gold, a Hermès expert says
The coveted Hermès Birkin bag has long been touted as a valuable investment. Now an Hermès expert says the luxury purses are even more valuable than gold.
Trader Joe’s is raising banana prices for the first time in 20 years
Inflation is gnawing at practically everything. This time, it’s taking a bite out of one of Trader Joe’s most popular food items: bananas.
Krispy Kreme stock had its best day ever because now McDonald’s will sell its doughnuts
Breakfast at McDonald’s is about to get much — much — sweeter. The Chicago-based fast food chain is expanding its partnership with Krispy Kreme. By the end of the year, McDonald’s will offer three types of Krispy Kreme doughnuts.
California fast food joints are laying off workers before a new law hikes pay
Restaurant owners in California are scrambling to reduce expenses ahead of a new California law that will increase the minimum wage for fast food workers to $20 an hour on April 1.
Chick-fil-A says it’s going back to antibiotics in chicken, after all
Chick-fil-A is making changes to its chicken — again. The fast food chain plans to use some antibiotics come this Spring.
Chipotle will use an avocado peeling robot to give customers consistent portions, CEO says
Burrito bowls at Chipotle may start to look drastically identical thanks to artificial intelligence. The restaurant chain has plans to deploy an avocado robot.
America’s favorite ketchup maker is going green
Beloved ketchup maker Kraft Heinz is going green — not in color. Don’t worry. Those days are over, at least for now. Instead, the American multinational food giant is planning a sweep of infrastructure changes to 10 of its U.S. plants.
H&M stock is flying high because consumers are still buying spring clothes
Shares of Hennes & Mauritz, better known as H&M, jumped by more than 15% after the company reported better-than-expected first quarter results. It turns out that shoppers are still interested in looking good for the Spring.
Walgreens beat Wall Street’s earnings expectations but warned of a ‘challenging retail environment’
Walgreens Boots Alliance posted second-quarter earnings that beat Wall Street expectations but even so, the pharmacy giant has a long road ahead of it as it looks to be profitable. warned of a “challenging” retail environment.
GameStop stock sinks because people don’t buy games like they used to
GameStop Corp. is running the gamut. The 40-year-old retailer reported weaker-than-expected revenue, led in part by consumers who aren’t buying games like they used to.
Canada Goose is laying off 17% of its corporate staff
Canada Goose is weathering a storm. The outerwear manufacturer is laying off roughly 17% of its corporate staff as part of what it’s calling a “transformation program.”
Amazon is already expanding same-day pharmacy delivery
Amazon is upping the ante against its retail competitors, and this time it’s in the pharmacy space. The e-commerce giant is expanding its same-day pharmacy delivery service to New York City and the greater Los Angeles area.
Almost half-a-million Starbucks holiday mugs are being recalled after customers got burned and cut
Nestle USA is recalling more than 440,000 Starbucks-branded mugs after customers reported being burned and cut after using the metallic products. Government agencies suggest stopping the use of the mugs immediately.
Last year’s Bud Light backlash is still costing the company
A Bud Light return may fall flat before it can fizzle. That’s in part because the brewing company, owned by Anheuser-Busch InBev, has yet to recuperate from a conservative-led boycott tied to a collaboration with transgender actress and TikTok personality Dylan Mulvaney.