Consumer and retail news: 10 things you need to know today
1. One of the biggest seafood companies in the country just recalled 32,000 cans of tuna
Bumble Bee Foods announced on Thursday a nationwide recall of three specific UPC codes of canned chunk light tuna because of deviations in the sterilization process.
2. 7-Eleven is debuting a Slurpee donut
The Wild Cherry Slurpee Donut is a cake donut with wild cherry-flavored icing, covered in sugar crystals that Brand Eating theorizes are intended to give the treat an "ice-like crunch." The donut costs 99 cents, and is a two-day promotion on March 18 and 19.
3. Taco Bell is using one huge advantage to beat McDonald's
Taco Bell looks to turn the tables once more by offering a new $1 Morning Value menu. The accompanying press release indicates that research proves "consumers cite their radical preference to spend $1 vs. more than $1."
4. Americans are ordering this item as a side at McDonald's, and it's the best fast-food hack of 2016
"Believe it or not, you may find some people order a lunch entree and ordering a Egg McMuffin sandwich as an add-on," said McDonald's CFO Kevin Ozan in a Tuesday conference hosted by Bank of America, reports Quartz.
5. J.Crew is turning into a discount retailer
Fourth quarter results for J.Crew weren't nearly as dismal as its previous quarters, yet sales are still down. Comparable sales for the fourth quarter were down 5%, and comparable sales for the entire year were down 10%.
6. Chipotle is spending an astronomical amount of money on free burritos
Chipotle is expected to give away a total of $70 million in free burritos between February and May, assuming that the cost of a burrito is about $8. That's about 16% of the company's total sales last year.
7. One of the hottest teen brands of all time is getting closer to extinction
Aeropostale comparable sales, including e-commerce, were down 6.7% compared to this time last year. Net sales were down 16.1%. The brand is having trouble keeping up with its target customers.
8. NIKE CEO: Self-lacing shoes will be as big as self-driving cars
With the debut of Nike's new self-lacing sneaker, it's clear the sneaker giant has taken another large step in the advancement of shoe technology. Power Lace senses when the wear's foot is in the shoe, and automatically tightens the straps.
9. Morgan Stanley identifies 3 risks to Chipotle's business
Morgan Stanley outlined a few risks that the company could face in the months ahead, including: being vulnerable to food inflation, continuing to open 200 plus restaurants in 2016, and having sales that are sensitive to negative headlines.
10. 4 retailers are crushing the industry
Ross, TJ Maxx, Lululemon, and L Brands are surviving in an otherwise difficult time in retail, according to a report by Morgan Stanley.
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