Retail news that keeps industry pros in the know
Retail Brew delivers the latest retail industry news and insights surrounding marketing, DTC, and e-commerce to keep leaders and decision-makers up to date.
This Thursday is the longest day in the Northern Hemisphere, and naturally, retailers are running promotions to celebrate. Kroger is offering 45,000 free pints of its branded ice cream, while TGI Fridays is running an all-day $5 happy hour the next day, which it called the “Longest Friday of 2024.”
Here’s what else is going on in retail this week:
In holidays: While an increasing number of states are acknowledging Juneteenth as an official holiday, major retailers will be staying open that day. Don’t expect too many sales or Juneteenth-themed merchandise, however—retailers tried that out back in 2022, and there was a significant backlash.
In data: The Census Bureau’s retail sales numbe rs for May are due out Tuesday. In April, sales were “virtually unchanged” on a month over month basis, but were still up 3% year over year. The report also showed a 1.2% monthly drop in non-store sales, though they increased 7.5% year over year. The CNBC/NRF Retail Monitor released its May numbers on June 7, giving a taste of what might be coming from the Census Bureau this week. That survey showed that sales rose 1.35% from the month before and 3.03% from a year ago.
In earnings: An earnings season straggler, Kroger is reporting its Q1 earnings this week, well after much of the grocery and retail space. As you’ve probably noticed from reading our coverage, the supermarket chain is still trying to get regulatory approval for a planned merger with Albertsons, despite the FTC’s legal challenge earlier this year. The lawsuit came up in the company’s last earnings call, as did non-merger-related plans to open, relocate, or expand 30 stores and add 800 news brands to its Our Brands portfolio this year.