Walmart's eggless Easter, Old Navy's AI bet, and Target cuts bonuses: Retail news roundup
Walmart (WMT) is skipping the eggs this Easter to cut costs. Target (TGT) will cut bonuses for salaried employees in response to weaker consumer spending and inflationary pressures. Just as consumers anticipated a break in egg prices, proposed port fees may make bananas the next price casualty. Meanwhile, McDonald’s (MCD) has claimed the title of the world’s most valuable restaurant brand, surpassing Starbucks (SBUX) for the first time in a decade. Check out these stories and more in the week’s retail roundup.
Walmart is taking the eggs out of Easter to save money
Walmart wants shoppers to celebrate Easter with their paychecks, even if eggs aren’t included in this year’s basket.
Target’s employee bonuses are being slashed
Target has announced it will reduce bonuses for salaried employees due to weak consumer spending and inflationary pressures.
Move over, eggs – bananas are the next victim
Just when consumers were expecting some relief on egg prices, bananas might be the next victim.
You wouldn’t think Old Navy and AI belong in the same sentence — but here we are
Gap is betting Old Navy (GPS) and AI will help solidify its position in retail.
McDonald’s snatches Starbucks’ crown for the first time in a decade
McDonald’s is the world’s most valuable restaurant brand, dethroning Starbucks for the first time in a decade.