McDonald's price hikes, IKEA's wage hikes, Walmart's big change, Costco's EVs: Retail news roundup
Walmart plans to use digital shelf labels at 2,300 of its stores by 2026, as it looks to cut back on the need for workers to manually change over 120,000 of its items. IKEA says it’s boosting wages to keep workers from quitting, upping its parental leave benefits, and even using AI to help it predict whether employees plan to quit. Plus, the former CEO of Yum Brands shares how he came up with the Cool Ranch Dorito flavor on a trip to a Texas supermarket in 1984.
Meanwhile, the former chief executive of Starbucks, Howard Schultz, details the advice he got from Steve Jobs (which involved screaming) during one of Jobs’ widely known walks around the Apple Campus, and Starbucks jumps into the value wars with its own $5 bundle.
Walmart is making a ‘significant shift’ in its pricing strategy
Walmart is hoping its new technology investment will help make its operations more efficient. The retail giant has plans to implement a new pricing strategy, and it’s digital.
IKEA is paying employees more to stop them from quitting
IKEA is putting in some effort to keep its workers from quitting. That’s because the Swedish furniture maker spends about $5,000 on rehiring each time an employee leaves.
The creator of Cool Ranch Doritos on the chips’ little life lesson — and why Crystal Pepsi failed
Sometimes lightning strikes in the salad dressing aisle. Former Yum Brands CEO David Novak — inventor of the Cool Ranch Dorito — breaks down how the beloved chip flavor got its start during a grocery trip to a Texas supermarket in 1984.
Starbucks’ Howard Schultz on the time Steve Jobs screamed at him
When Howard Schultz, the former chief executive officer of Starbucks, was having a hard time leading the coffee chain, he reached out to Steve Jobs, the co-founder of Apple, for some advice. Jobs gave Schultz guidance, but it would mean making tough calls.
GM is ‘bullish’ on selling EVs — because of Costco
General Motors says it is confident that Costco is the ticket to boosting its slowed electric-vehicle sales. More specifically, the automaker is tapping into the retailer’s Auto Program.
Starbucks just joined McDonald’s on the $5 meal deal bandwagon
Starbucks is joining the value wars as it looks to capture the attention of cash-strapped consumers. The coffee giant has launched its own $5 food and drink bundle.
Banana giant Chiquita was held liable for the murder of several Colombians by a terrorist group it bankrolled
Banana giant Chiquita Brands will need to pay $38.3 million to family members of those killed during Colombia’s bloody Civil War after the company was found liable for funding a right-wing paramilitary group.
California’s minimum wage hike has pushed fast food prices up and kept consumers away
California is starting to see the ripple effects that the state’s minimum wage hike is having on fast food chains, according to a report by foot traffic analytics firm Placer.ai. That doesn’t mean consumers aren’t eating out, they’re just doing it at a casual dining restaurant instead.
Gum companies want to silence your intrusive thoughts
Intrusive thoughts? Well, some companies are claiming that gum can help fix that problem — and they’re doling out millions in cash on splashy campaigns to get customers chewing again.
Walmart stock hits a record high after it gets a JPMorgan upgrade
Walmart has Wall Street’s attention – and it’s pushing the retailer’s stock to an all-time high. Earlier this week, JPMorgan lifted its price target on the retail giant, largely due to its position in a sensitive consumer environment.
Krispy Kreme stock pops after analysts say Ozempic won’t dampen the McDonald’s deal
Wall Street has an appetite for Krispy Kreme — and it’s pushing the doughnut maker’s stock up to its highest level in weeks. Truist Securities lifted its price target and adjusted its position, noting that “yes, we want to eat healthy, but we like our sweets.”
The 8 fast food chains with the highest-calorie menu items
Fast food can be quick, convenient, and above all, pretty tasty. It’s big business, but it can come at a cost, as prices veer towards “luxury” territory. Here’s a list of 8 fast food chains with the highest-calorie menu items, including the specific item, and how many calories it’s stuffed with, according to nutrition database platform Nutritionix.
McDonald’s prices have gone up a lot. 9 menu items show exactly by how much
McDonald’s is a pioneer when it comes to fast food. The burger maker is well-known for being quick and affordable — and ultimately, a fixture of consumer culture. But the chain’s menu prices have skyrocketed in the last decade. To break this down, we’ve compiled a list of nine menu items with the biggest price hikes, comparing their price in 2014 with what it costs today, and the percentage increase.
IKEA is hiring real people to work inside its Roblox store
IKEA is getting into gaming for the first time. The Swedish furniture maker said earlier this week that it is looking to hire 10 people for its virtual store on the gaming platform Roblox, who can help customers select their furniture and serve fake meatballs.