Amazon's holiday hiring, Costco's platinum bars, and Nike's struggles: Retail news roundup

Costco shoppers have already demonstrated their love for the retailer’s gold bars and silver coins, and now the company is adding a third precious metal. Nike is setting off alarms after it postpones its investors day and withdraws its full-year guidance. And Amazon plans to hire 250,000 seasonal employees to manage the busy holiday season.

Those stories and more appear in this week’s retail news roundup.

Graphic: Images: SOPA Images, Kim Kulish, MARK FELIX/AFP, Michael M. Santiago
Graphic: Images: SOPA Images, Kim Kulish, MARK FELIX/AFP, Michael M. Santiago

Costco fans already love their gold and silver bars. Now here comes another precious metal

Image: SOPA Images (Getty Images)
Image: SOPA Images (Getty Images)

Costco Wholesale (COST) is getting further into the precious metals business. While gold bars and silver coins have previously been top of mind for shoppers, the retailer is now adding a third precious metal: platinum. This comes as the company also lowers grocery prices and raises its membership fee.

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Nike stock is in a ‘no man’s land,’ analyst says

Nike CEO John Donahoe is set to step down on Oct. 13, 2024. - Image: Kim Kulish (Getty Images)
Nike CEO John Donahoe is set to step down on Oct. 13, 2024. - Image: Kim Kulish (Getty Images)

As Nike (NKE) gears up for a pivotal leadership transition, the iconic brand faces a challenging road ahead.

The company has postponed its investor day and withdrawn its full-year guidance, leading analysts at Jefferies (JEF) to advise caution. The firm predicts that Nike’s shares are in “no man’s land” and will remain “range bound” as the company charts its next steps. Incoming CEO Elliott Hill will take the reins on Oct. 14, raising the question of whether Nike finally be able to “Just Do It.”

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What retailers are saying about the big U.S. port strike

Dockworkers strike at the Bayport Container Terminal in Seabrook, Texas, on October 1, 2024. - Image: MARK FELIX/AFP (Getty Images)
Dockworkers strike at the Bayport Container Terminal in Seabrook, Texas, on October 1, 2024. - Image: MARK FELIX/AFP (Getty Images)

In light of the recent port strike, retail giants say they’ve been addressing potential disruptions to their supply chains as the holiday season approaches.

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Amazon is hiring a quarter-million workers this holiday season

An Amazon delivery truck drives past Amazon’s JFK8 Staten Island fulfillment center in Staten Island in New York City. - Photo: Michael M. Santiago (Getty Images)
An Amazon delivery truck drives past Amazon’s JFK8 Staten Island fulfillment center in Staten Island in New York City. - Photo: Michael M. Santiago (Getty Images)

Amazon (AMZN) said Thursday that it plans to hire 250,000 seasonal workers as it prepares to tackle a busy holiday shopping season.

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Bananas, shrimp, wine, and more: 10 staples that will be affected by the big U.S. port strike

Image: Spencer Platt (Getty Images)
Image: Spencer Platt (Getty Images)

Shoppers may soon find it more challenging to locate common items such as bananas, salmon, and wine now that a massive U.S. port strike has started. The strike involves thousands of dockworkers advocating for better pay and working conditions.

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Costco’s CEO on how the big U.S. port strike could impact holiday shopping

Shoppers leave a Costco in Washington, D.C. - Image: Ting Shen/Xinhua (Getty Images)
Shoppers leave a Costco in Washington, D.C. - Image: Ting Shen/Xinhua (Getty Images)

In light of the recent port strike, Costco (COST) Wholesale Corp. said it’s been addressing potential disruptions to its supply chain, particularly for nonfood imports as the holiday season approaches.

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Walmart, Target, Home Depot and more: The top 10 U.S. importers as a port strike takes hold

Dockworkers strike at the Bayport Container Terminal in Seabrook, Texas, on October 1, 2024. - Image: MARK FELIX/AFP (Getty Images)
Dockworkers strike at the Bayport Container Terminal in Seabrook, Texas, on October 1, 2024. - Image: MARK FELIX/AFP (Getty Images)

Big box retailers like Walmart (WMT), Target (TGT), and Home Depot (HD) play a major role in U.S. imports.

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The most common U.S. export is an empty container

U.S. President Joe Biden. - Image: Drew Angerer (Getty Images)
U.S. President Joe Biden. - Image: Drew Angerer (Getty Images)

In the complex world of U.S. trade, one startling statistic stands out: the most common “export” from the U.S. overseas is an empty container.

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Walmart is challenging Amazon by going digital

A Walmart employee restocking bananas. - Image: Jeffrey Greenberg/Universal Images Group (Getty Images)
A Walmart employee restocking bananas. - Image: Jeffrey Greenberg/Universal Images Group (Getty Images)

Walmart (WMT) is successfully evolving its business model to better integrate online and in-store shopping, positioning itself to take on e-commerce giant Amazon (AMZN), in a move that could put it on the path towards even greater growth, financial firm Baird said in a research note.

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Nike stock tumbles as investors worry about a turnaround: ‘A comeback at this scale takes time’

The Nike batting gloves worn by Jonathan India #6 of the Cincinnati Reds. - Image: Kirk Irwin (Getty Images)
The Nike batting gloves worn by Jonathan India #6 of the Cincinnati Reds. - Image: Kirk Irwin (Getty Images)

Nike (NKE) shares dropped 8% during early trading hours on Wednesday after the company withdrew its full-year guidance and postponed its investor day. The moves created uncertainty among investors on the company’s turnaround efforts under incoming CEO Elliott Hill, who takes over on October 14.

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Nike pushes back its investor day — and the stock dips on sluggish earnings

A Nike flagship store in Shanghai, China. <br> - Image: CFOTO/Future Publishing (Getty Images)
A Nike flagship store in Shanghai, China.
- Image: CFOTO/Future Publishing (Getty Images)

Nike (NKE) is striving to “Just Do It,” but its latest quarterly earnings suggest it may be too soon to determine success. Now, the company has postponed its investor day, which was set for November.

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Halloween creep is haunting Christmas as it becomes retail’s new rising star

Social media’s ghoulish grip pushes Halloween into feeds and stores earlier each year.
Social media’s ghoulish grip pushes Halloween into feeds and stores earlier each year.

As Halloween decorations creep onto store shelves earlier each year, America’s spookiest holiday is casting an ever-longer shadow over the retail landscape. With projected spending of $11.6 billion in 2024, Halloween is inching closer to Christmas-level importance for retailers and consumers alike.

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Costco says its been lowering prices despite increasing membership fees

People walk to enter a Costco Wholesale in Glendale, California. - Image: Mario Tama (Getty Images)
People walk to enter a Costco Wholesale in Glendale, California. - Image: Mario Tama (Getty Images)

As grocery prices continue to climb, Costco (COST) Wholesale said it’s been offering some relief to customers by keeping prices low for many staples. This comes in the wake of a membership fee increase, which the company said it had delayed for two years.

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