Target faces leadership reshuffles and weak sales as new CEO reshapes the tower — Target Corp, Minneapolis-based retailer, eighth-largest US.
Major retailers Target and Grocery Outlet are investing heavily in AI to overhaul operations, expand store networks, and improve customer experiences amid ongoing sales challenges. Target plans 30 new stores and extensive remodeling, while Grocery Outlet is closing underperforming locations. FlightStory leverages AI for content creation and social media, and CoreWeave promotes its AI cloud platform. These moves reflect a broader shift toward AI-driven innovation in retail and technology sectors.
US banks have reported strong first-quarter profits driven by increased trading activity caused by geopolitical tensions and market volatility. Morgan Stanley, Bank of America, and JPMorgan Chase have posted record revenues, with trading desks benefiting from market swings. However, concerns about geopolitical risks and economic stability persist.
California has filed a lawsuit alleging Amazon has engaged in illegal price-fixing practices by pressuring vendors to raise prices and coordinate with competitors. The case, initiated in 2022, is scheduled for trial in January 2027. The allegations include Amazon's efforts to manipulate prices on various products and platforms.
Nike has reorganized its operations and tech teams as part of a broader turnaround, moving resources to Beaverton and Bengaluru and cutting about 1,400 roles. The company is focusing on core sports, faster product development, and a tighter supply chain, while facing ongoing pressure on sales, especially in Asia. The changes come after prior rounds of layoffs and a shift back toward performance-led footwear and apparel.