Target's price hikes, Walmart's China strategy, and Starbucks' tough love: Retail news roundup
Target’s CEO Brian Cornell warns that President Donald Trump’s looming tariffs will drive up prices on fruits and vegetables, as the retailer works to recapture the “Tarzhay” vibe. Meanwhile, Walmart is asking Chinese suppliers to absorb the costs of U.S. tariffs. Over at Starbucks (SBUX), CEO Brian Niccol is offering tough love, urging employees to work hard and take accountability for the coffee giant’s financial health.
Target CEO says tariffs will immediately raise prices for fruits and vegetables
Target shoppers will soon see higher prices for fruits and vegetables, CEO Brian Cornell warned.
Walmart hopes China can save it from Trump’s tariffs
Walmart is reportedly pushing its Chinese suppliers to absorb the costs of U.S. tariffs.
Starbucks CEO tells employees to work harder after layoffs
Starbucks CEO Brian Niccol wants corporate employees to work harder and take accountability for the coffee giant’s financial health.
Costco defies Trump’s tariff concerns – but the stock still slips
Costco (COST) shoppers are on a bulk-buying spree, snapping up groceries, home furnishings and electronics, as the retailer defies growing concerns over rising tariffs and living costs.
Best Buy is following Walmart’s lead, yanking Amazon’s playbook
Like Walmart, Best Buy (BBY) is learning from the competition by taking a page out of Amazon’s playbook.
Walmart CEO says sky-high food prices are causing ‘frustration and pain.’ Tariffs could hurt more
Walmart is thriving among wealthier shoppers, but for lower-income customers, the situation is more challenging, according to CEO Doug McMillion.
Target had a slow month. Tariffs could make things worse
Target’s DEI retreat has sparked a 40-day boycott
Target (TGT) announced in early January that it would be scaling back its diversity, equity, and inclusion (DEI) efforts. Now, it’s facing a 40-day boycott.
A former Microsoft executive warns Trump’s tariffs could send costs ‘soaring’ across the restaurant industry
The U.S. restaurant industry is bracing for a massive financial hit as a result of the new round of Trump tariffs set to take effect on March 4.
Starbucks says try these classics as it cuts 13 drinks
Starbucks is cutting 13 drinks from its menu, but is offering some alternatives for customers who might miss them.