Latest news with #BJ'sWholesale
Yahoo
31-05-2025
- Business
- Yahoo
The Reason Even Retailers That Raise Prices Want to Keep Your Grocery Bills Down
General retailers, such as Walmart and Costco, want to avoid raising grocery prices as they adjust prices in response to tariffs, executives said on recent earnings calls. Lower food prices can offer retailers steady food traffic, and may be a way to build loyalty using a category that relies less on imports than some other types of merchandise, experts said. Higher food prices can have a pronounced impact on brand perception and consumer sentiment, consumer research experts retailers say they need to raise prices. They'd rather not do it in the grocery aisle. Executives at several big chains have lately said they want to keep food prices manageable, and experts say there's a good reason for that: While groceries are must-buy goods, shoppers who don't like the prices they see could look elsewhere. Walmart (WMT) executives have said fighting food inflation is top-of-mind. BJ's Wholesale (BJ) leaders want to keep their food prices 25% lower than those at grocery stores. Target (TGT) and Costco Wholesale (COST) executives on recent conference calls said they're selling seasonal fare and kitchen staples at bargain rates. General retailers have traditionally treated food as a 'loss leader,' experts said, meaning companies may set prices meant to draw in people who might pick up other, higher-profit items. 'The psyche of the consumer could be: I just saved on my groceries, so I can splurge,' said Sally Lyons Wyatt, global executive vice president and chief advisor at Circana, a market research company. This may pave the way for purchases of items that have seen price increases, Lyons Wyatt said, such as tech gadgets or pet products. Groceries are vital to 'a retailer's business plan, providing essential goods that encourage frequent visits and foster customer loyalty,' said Steve Zurek, vice president of advanced analytics thought leadership at market research firm NielsenIQ. Companies that sell food have some flexibility, experts said. Many—though not all—grocery items are sourced domestically, meaning they're less likely to become more expensive due to tariffs, said Stewart Samuel, director of retail futures at IGD, a food industry insights group. Retailers are mindful that Americans are still acclimating to food prices that surged during the pandemic. Given how frequently people buy food, higher grocery prices can have a dramatic impact on brand perception and consumer confidence, experts said. 'We've been through a number of years here where prices have gone up on food, and our customers have felt that,' Walmart CEO Doug McMillon said during an earnings call earlier this month. 'They don't want any more food inflation.' Walmart won't let pressure on general merchandise bleed into the grocery section, McMillon said. Low food prices are a priority, he said, while acknowledging that the retailer may raise prices on foods that are difficult to source domestically, such as bananas, avocados and coffee. 'A lot of retailers take Walmart's lead,' said R. J. Hottovy, head of analytical research at a firm that measures retailers' foot traffic. 'A lot of chains are going to try to do that, but not every retailer is going to have the same ability.' Perishable items have propelled recent growth at BJ's, CEO Bob Eddy said on an earnings conference call this month, adding that the company wants to use competitive prices to 'gain market share in these times of disruption.' 'Our advantaged structure allows us to consistently offer up to 25% off grocery store prices, and we are committed to maintaining this edge,' Eddy said, according to a transcript made available from AlphaSense. Target is adding seasonal food and beverages to sections stocked with $1 to $5 items, while Costco is getting comfortable with the idea that it may have lower profit margins on pineapples and bananas, executives at those companies said recently. Costco started charging more for flowers sourced from Central and South America, but held off on doing the same for fruits from that region, CFO Gary Millerchip said on an earnings conference call this week. 'They are key staple items for the member,' Millerchip said, according to a transcript. 'We felt it was important to really eliminate the impact there.' Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
22-05-2025
- Business
- CNBC
Three Stock Lunch: BJ's Wholesale, Uber and Palo Alto Networks
Jay Woods, Freedom Capital Markets, joins 'Power Lunch' to discuss Woods' investing take on three stocks: BJ's Wholesale, Uber and Palo Alto Networks.
Yahoo
04-05-2025
- Yahoo
21-year-old arrested after allegedly driving recklessly in North Haven
NORTH HAVEN, Conn. (WTNH) — A Manchester man was arrested on Saturday after allegedly driving recklessly in the area of Universal Drive in North Haven, police said. 21-year-old Tyler Peek was allegedly part of a drivers doing donuts and burnouts on Saturday morning near BJ's Wholesale in North Haven. The group dispersed as officers arrived. Norwich man accused of driving at 120 mph, engaging police in pursuit on Route 2 :CSP A black Volkswagen Jetta was seen driving recklessly through traffic without its lights on. Peek was identified as the driver and charged with the following Failure to have lights lit and devices illuminated Reckless driving Failing to stop when signaled/disobeying direction of an officer Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
16-04-2025
- Business
- Yahoo
Third Morris County Chick-fil-A to open as new Route 10 Whippany shopping center fills out
HANOVER — A popular fast-food chain will join a big-box retailer on Route 10 this week as the long-awaited redevelopment of an old Route 10 retail property continues in Whippany. Chick-fil-A will open its third Morris County location on Thursday at the new Hanover Towne Center. BJ's Wholesale debuted there last month. The stores are occupying the site of the former Pine Plaza. Once anchored by a Foodtown grocery store, that shopping center closed in 2020 and was demolished in 2021. Additional plans for the 23-acre site include 60 townhomes and three more available spaces likely to be filled by restaurants or shops. Franchise owner Drew Blind is hoping for the same success in Whippany as he saw in 2019, when he opened Morris County's first Chick-fil-A a few miles west on Route 10 in Morris Plains. The chain's second Morris County outpost arrived last year in Parsippany. "I was born and raised in East Hanover and graduated from Hanover Park High School," Blind said at the Morris Plains opening. "This is honestly a life dream: get to serve the community and bring Chick-fil-A to Morris County." Offering new menu items including the return of the Smokehouse BBQ Bacon Sandwich and a new Pineapple Dragonfruit seasonal beverage, the Whippany restaurant will celebrate its grand opening at 6:30 a.m. Regular hours going forward are 6:30 a.m. to 9 p.m. for dining in or carryout. The restaurant's drive-through window will remain open until 10 p.m. The family-owned company also is known for closing on Sundays due to Christian religious observances. It has also drawn criticism for its history of financial support for opponents of same-sex marriage and other LGTB causes. Amazon Fresh: Morris County mall slated for NJ's next Amazon Fresh. Here's what we know With the opening - and the approximately 100 jobs it creates - comes a $25,000 donation from the corporation to support the Community Food Bank of New Jersey. The Whippany franchise also will participate in the in the Chick-fil-AShared Table program, which redirects surplus food to local nonprofits. In addition, the franchise will recognize "100 local heroes making an impact in the Whippany community by providing them with free Chick-fil-A entrées for a year," the company said in a news release announcing the opening. This article originally appeared on Morristown Daily Record: Chick-fil-A opens at Route 10 mall, adding to Morris County locations
Yahoo
06-03-2025
- Business
- Yahoo
Costco earnings, Fedspeak, mortgage rates: What to Watch
Market Domination Overtime co-hosts Julie Hyman and Josh Lipton preview the biggest stories and economic data investors should pay attention to on Thursday, March 6. Retailers Kroger (KR), BJ's Wholesale (BJ), and Costco Wholesale (COST) will be releasing their respective earnings results throughout the day alongside tech players Broadcom (AVGO) and Hewlett-Packard Enterprise (HPE). Commentary from Federal Reserve Governor Christopher Waller and Atlanta Fed President Bostic is also expected. Lastly, the weekly reading on mortgage rates are due out Thursday afternoon. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. This post was written by Luke Carberry Mogan. Sign in to access your portfolio
