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Top stories summarized by our editors
11/24/2021

After increasing the price of most of its products from $1 to $1.25, Dollar Tree is planning to use the higher price point to add more consumable items to its shelves. CEO Michael Witynski said the higher price allows the chain to bring back "many customer favorites and key traffic-driving domestic and consumable products" that it had stopped selling.

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Progressive Grocer
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CEO Michael Witynski
11/24/2021

Massachusetts towns Braintree and Saugus are poised to become home to the first Amazon Fresh stores in New England, according to a report. The site in Saugus is the former home of a Big Y grocery, while the Braintree location is a 37,500-square-foot store that once housed a Saks Off 5th.

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Amazon Fresh stores
11/24/2021

US private-equity firm Apollo Global Management is reportedly considering an acquisition of UK retailer Marks & Spencer. M&S upgraded its full-year guidance earlier this month after turnaround efforts paid off in higher-than-expected profits in the first half of the year.

11/24/2021

J.M. Smucker's net sales grew 8% for its second fiscal quarter, exceeding company expectations and prompting a raise in its sales growth guidance for fiscal 2022. A marketing strategy that balances mass and targeted outreach, inflation-related pricing action and "meaningful innovation" created "robust, organic top-line growth across each of our segments, reflecting consumers' continued desire for our brands and the successful implementation of initial pricing actions," said CEO Mark Smucker.

11/24/2021

Dollar Tree will increase prices from $1 to $1.25 on most of the products sold in its stores by next April, marking its first permanent pricing increase in 35 years. The retailer, which has about 16,000 stores in North America, said most surveyed shoppers said they would continue to frequent Dollar Tree after the increase and the higher price point will allow the retailer to bring back some items it had previously discontinued.

11/24/2021

FedEx's October on-time delivery rate rose 5 percentage points to 72%, thanks to operational improvements and more accurate delivery estimates, while UPS' rate fell to 83% and the US Postal Service dropped to 92% amid staffing shortages and supply chain problems, according to a Convey analysis. Convey doesn't expect on-time delivery to get better this holiday season because shippers are dealing with high consumer demand, port congestion and other obstacles.

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Supply Chain Dive
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USPS, UPS
11/24/2021

Gap spent an additional $100 million on airfreight costs in the third quarter to stock stores, and supply chain delays also cost the retailer about $300 million in lost sales, the company reported. CEO Sonia Syngal said the freight expenses were necessary for the retailer's four fashion banners to compete during the holiday season, despite the hit to third-quarter profits.

11/24/2021

Abercrombie & Fitch's signature fragrance, Fierce, has remained a constant in a time of great change for the retailer since its days as a teen favorite in the early 2000s. The retailer is now appealing to millennials with brighter stores, fewer pieces adorned with the brand's name and a more inclusive range of sizes.

11/24/2021

Three brothers launched online fashion retailer Ssense in their family's basement in 2003, and this summer the company hit a valuation of $4.1 billion in an investment round. The company, which now boasts 1,300 staffers in Europe and North America, built a business by taking a chance on emerging designers who have since gone on to become big names, including Virgil Abloh and Matthew Williams.

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The New York Times
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Ssense, Ssense, Virgil Abloh
11/24/2021

Gratitude is such a powerful force that simply trying to act grateful can be beneficial even when you don't particularly feel in the mood, writes Dan Rockwell. "Act your way into feeling instead of feeling your way into acting," Rockwell writes.

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Leadership Freak
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Rockwell