Check out the top retail news of the day while listening to our album of the week:
Walmart is the latest retailer to increase hourly pay for associates. It will affect roughly 565K store associates and is the third increase to compensation in the previous 12 months—yet, that trails the investments made by Target and Amazon. Walmart’s minimum wage will sit at $12/hour versus $15/hour for the aforementioned competitors. It’s a challenge for Walmart, who eclipses the count of associates of Target and Amazon significantly, but must raise wages to remain competitive.
Speaking of Amazon, they’re preparing their air fleet and logistics for 3P deliveries. Taking on USP and FedEx, Amazon has been making significant investments in this area. An estimated 70% of Americans are now within a ~2 hour drive of an Amazon Air airport (+54% increase YOY).
Walgreens launches bank account and debit card. Another revenue stream for the retail chain, the goal is to help customers “build healthy financial habits, earn rewards, and save on future purchases”. This latest move is another innovation within an extensive financial services portfolio.
Proctor and Gamble is making leadership changes: Monica Turner will become P&G’s North American President and replace Carolyn Tastad, who will be P&G’s Health Care CEO. Monica started and rose through the Sales ranks at Proctor. She steps in while P&G is seeing success. Their recent annual results had a 7% increase in net sales and 6% increase in organic sales.
No Comments
Leave a comment Cancel