Target alums join Nordstrom, Bath & Body Works

Author

Stephen Babcock
May 17, 2023

In this week’s hiring update, Trader Joe’s announced a CEO succession plan. Meanwhile, the Target alumni network is spreading its wings throughout retail, as former executives are joining Bath & Body Works and Nordstrom.

Bloomberg flagged recent job postings that indicate generative AI will soon be coming to the Amazon search experience. The company is aiming to “re-architect and reinvent the way we do search through the use of extremely large scale next-generation deep learning techniques,” one posting states. It comes as Google and Microsoft are also exploring more conversational search through AI. – Bloomberg

Overall retail sales growth continues to slow down, as April saw a 1.6% year-over-year increase, according to the US Commerce Department. Meanwhile, the category that includes ecommerce sales grew 8%. A bifurcation is emerging between essential and discretionary categories, signaling shifting consumer habits after months of inflation and interest rate hikes.

New this morning: Comparable sales were flat at Target in the first quarter, as shoppers spent less with each passing week. Digital sales fell 3.4%, as fewer packages were shipped to homes. Discretionary categories saw declines, but groceries, beauty products and everyday essentials helped provide a boost. – CNBC

During the month of May, The Workshop at Macy’s is offering education and networking to 25 women and diverse-owned businesses. Along with the opportunity to win funding, the entrepreneurs are also reaching customers through a popup store. Check out who’s in the cohort.

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