Hello Omni Talk Fans! Today’s Saks news reminds me of the day when former Target CEO Bob Ulrich was asked what he thought of Kmart and Sears getting together. His response was “two wrongs never make a right.” Well said, Bob. Well said.
In today’s Retail Daily Minute:
- Saks Global is negotiating a $1 billion bankruptcy loan after missing $100 million in bond payments, as the luxury retailer faces potential Chapter 11 filing within weeks.
- Kroger launches its Verified Savings Program, offering 20% produce discounts and half-price Boost memberships to customers enrolled in SNAP, WIC, Medicaid, and other government assistance programs.
- Amazon expands Alexa Plus to browser access with end-to-end meal planning that lets customers generate weekly menus and instantly add ingredients to Amazon Fresh or Whole Foods carts.
Plus, a quote from a film in which a boy is sewn into a sack.
👇 Listen now
Today’s Top Headlines
1. Saks Global Seeks $1 Billion Loan Amid Bankruptcy
Saks Global Enterprises seeks up to $1 billion loan ahead of potential Chapter 11 bankruptcy filing in coming weeks. The luxury retailer missed a $100+ million interest payment and is negotiating forbearance with creditors. Bondholders are discussing a debtor-in-possession loan exceeding $750 million to sustain operations. (Read More)
2. Kroger Launches Verified Savings Program with 20% Discount
Kroger launches its Verified Savings Program offering 20% off fruits and vegetables and half-price Boost memberships to government assistance recipients including SNAP, WIC, and Medicaid participants. Customers verify eligibility through SheerID online. The initiative aims at expanding food access and eliminating barriers to food security. (Read More)
3. Amazon Introduces Alexa+ on Browser with Meal Planning
Amazon Alexa+ voice assistant is now available via browser, featuring meal planning and shopping integration with Amazon Fresh and Whole Foods Market. Powered by 70+ large language models, it offers end-to-end meal planning, recipe customization, and seamless connections with multiple retailers including Panera, Uber, and Ticketmaster. (Read More)
4. Marcus Lemonis Takes CEO Role to Expand Bed Bath & Beyond
Marcus Lemonis accepts CEO role at Bed Bath & Beyond alongside Executive Chairman position. He’s expanding the company beyond retail into home services, financial products, renovation programs, and transaction platforms. The strategy aims to make homeownership more affordable while diversifying revenue streams amid housing market challenges. (Read More)
5. Boston Dynamics Advances AI-Powered Atlas in Humanoid Race
Boston Dynamics, backed by Hyundai, is developing the AI-powered Atlas humanoid robot using machine learning and Nvidia chips. Atlas learns through VR demonstrations and motion capture, being tested at Hyundai’s Georgia factory. Goldman Sachs predicts the humanoid market will reach $38 billion within a decade amid global competition. (Read More)
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Be careful out there,
— Chris, Anne, and the entire Omni Talk team
Omni Talk® is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk® in 2017 and have quickly turned it into one of the fastest growing blogs in retail.