National

Parents and caregivers in Florida and Maryland are getting a tax break on diapers, starting Friday.

Why it matters: With inflation at a record 40-year high, the average cost of diapers nationwide has gone up by nearly 22% since 2018, according to NielsenIQ, a data firm that tracks consumer prices, Boston public radio station WBUR reports.

The big picture: Children require at least 50 diaper changes per week or 200 diaper changes per month, according to the National Diaper Bank Network. 

The estimated cost of a year's supply of diapers for one child is $936 per year, the network said. With a 7% sales tax rate cut that would be a savings of $66.

California, Massachusetts, Minnesota and New York are among the states that already have tax exemptions on diapers, according to the network, which it says works "to end diaper need and period poverty in the United States."

Details: Florida has approved a variety of sales tax holidays and the yearlong holidays on diapers as well as clothes and shoes for kids under 5 are expected to save $120.4 million through June 30, 2023.

Three other Florida tax holidays start Friday: Freedom Week (July 1-7), a yearlong break on Energy Star appliances and a 2-year exemption on impact-resistant windows, doors and garage doors.

Maryland is exempting diapers, diaper rash cream, and baby wipes from its sales and use tax.

What's next: The city of Denver is eliminating the sales tax on all diapers and adult incontinence products, effective Oct. 1, Axios Denver's Esteban L. Hernandez reports. Colorado will eliminate the state tax starting Jan. 1.

Iowa is making child and adult diapers, both cloth and disposable, exempt from state tax starting Jan. 1, according to legislation signed by Gov. Kim Reynolds in mid-June.

Ohio is considering the elimination of a tax on diapers, News5Cleveland.com reported.

Paper coupons are dying but you can still beat inflation

July 4th weekend flight cancellations fueling road trips

Diapers are now tax free in Florida and Maryland, amid inflation

Florida and Maryland are giving a diaper tax break amid record inflation.

Inflation led to diaper price increases. Photo: Bess Adler/Bloomberg via Getty Images

Sales tax

Retail

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Economy & Business

Record inflation isn’t the only reason your groceries cost more: The paper coupon has been slowly dying and it's getting harder to save.

The big picture: “It's hard to pinpoint exactly if and when print coupons will become extinct, but they're definitely on that path,” Kristin McGrath, savings expert with RetailMeNot, told Axios.

Kantar Media estimates that 168 billion coupons circulated in 2021 across print and digital formats, down from about 294 billion in 2015, The New York Times reports.

A few quick tips for cutting costs without using scissors:

Switching to more store brands is one of the easiest ways I save money. For example, I've replaced Nabisco Wheat Thins with Aldi's Thin Wheat crackers and save around 75% on a box.

Buying in bulk: I load up the cart at wholesale clubs Costco, Sam's Club and BJ's Wholesale so I can shop less often and lock in today's prices to save myself upcoming price increases. I also save on gas and buy rotisserie chicken, which is one of the only things not hit by inflation.

Monitor weekly sales: For my grocery store runs, I look at the store circulars (usually digitally) to figure out where I'll shop.

Clip digital coupons: Most grocery store chains — think Publix and Kroger — have digital coupons and I check the apps and websites to clip them before shopping. 

Earn cash back: I have earned nearly $3,000 in rebates through the Ibotta shopping app, which gives rebates on groceries and percentages of cash back on online purchases. I also have racked up thousands using cashback programs like RetailMeNot and Rakuten.

Bed Bath & Beyond launches rewards program

Fourth of July fireworks cost more thanks to inflation

While the days of newspaper coupon inserts are numbered, it's possible to save money.

Illustration of binoculars with the lenses reflecting overlapping newspaper sale clippings

Shopping

Sales at Bed Bath & Beyond Inc. plummeted by 25% in its first quarter of 2022, the retailer announced Wednesday, a similar trend that other major retailers like Target, Walmart and Amazon have faced in recent months.

Driving the news: Bed Bath & Beyond officials said the "macro environment" was becoming more challenging and announced Sue Gove was named interim chief executive officer, replacing CEO Mark Tritton, who joined the company in November 2019.

State of play: Last week, Bank of America analysts wrote in a note that they found stores were lowering air conditioning and trimming store hours to cut costs as well as canceling or delaying store remodels.

Meanwhile, Bed Bath officials told Axios in a statement that "no Bed Bath & Beyond stores were directed to adjust their AC and there have been no corporate policy changes regarding utilities usage."

During Wednesday's earnings call, Bed Bath said it was pausing remodels for the rest of the fiscal year.

What they're saying: "In our view, Bed Bath & Beyond has, quite simply, been run into the ground and a change of management is the only way of restoring some credibility with investors," Neil Saunders, managing director of GlobalData, said in a statement.

"It needs to refine its turnaround strategy from a very weak financial position and at a time when the market for home furnishings is in the doldrums," Saunders said.

"I believe a lot of this work is best done in a back-to-basics mantra that prioritizes knowing our customer and delivering the experience they deserve wherever they interact with us," Gove, the interim CEO, said during an earnings call with analysts Wednesday.

Details: Bed Bath & Beyond's inventory rose about 15% from a year ago in the quarter but shoppers' demand fell, chief financial officer Gustavo Arnal said Wednesday.

Expect to see more merchandise markdowns or "inventory optimization" and "incremental clearance activity," Arnal said.

Flashback: In July 2020, Bed Bath announced it would close 200 of its namesake stores over two years. The retailer also operates 135 buybuy BABY stores and 51 stores under the names Harmon, Harmon Face Values or Face Values.

The retailer also rolled out new store-owned brands as part of its transformation plan.

Bed Bath rewards program with discounts launches

Bed Bath & Beyond Inc. has a new loyalty program — Welcome Rewards — that can be used across the company's banners on all purchases.

The program has started rolling out and is scheduled to be at all stores by the end of July, the company told Axios.

Customers can already use Welcome Rewards and gain points in stores where the company hasn't fully rolled out the program by entering their receipts into the retailer's mobile app.

The company said shoppers can still use its popular coupons along with rewards.

Between the lines: There are three ways to participate in the program — a free tier Welcome Rewards, Welcome Rewards+ ($29 per year) and Welcome Rewards credit card. Shoppers can join at www.bedbathandbeyond.com/welcomerewards.

With Welcome Rewards, earn 10 points for every $1 spent with 5,000 points equally a $5 reward. Earn 5,000 free points for signing up through July 31.

Welcome Rewards+ replaces Bed Bath's former loyalty program Beyond+ and offers 15% off total purchases and an extra 5% in earned rewards with 50 points for every $1 spent. 

Earn 10,000 free points, a $10 value, for signing up through July 31. (Beyond+ members can choose to transfer into the new program or stay "until their current annual expiration date," the company told Axios.)

With the Welcome Rewards credit card, there's no annual fee but cardholders get a free year of Welcome Rewards+ and can earn 10% with 100 points for every $1 spent.

Our thought bubble: Welcome Rewards+ doesn't provide the same instant gratification of 20% off purchases that Beyond+ had, however, with so many products excluded from the discount, earning the 5% in rewards will likely be more of a win for consumers.

Amazon, Walmart, Rite Aid limit Plan B "morning after pill" purchases

Global mustard shortage looms ahead of summer barbecues

Kraft Macaroni and Cheese is changing name to "Kraft Mac & Cheese"

Bed Bath & Beyond sales decline, CEO ousted

Sales at Bed Bath & Beyond Inc. plummeted by 25% in its first quarter of 2022.

Bed Bath & Beyond announced its quarterly earnings Wednesday. Photo: David Paul Morris/Bloomberg via Getty Images

Some of the nation’s largest pharmacy chains have started limiting purchases of Plan B and other emergency contraception because of increased demand after Friday's Supreme Court decision to overturn Roe v. Wade.

The big picture: Commonly called the "morning-after pill" and available without a prescription under the Plan B brand, the pills are different from medication abortion pills, which also are growing in demand. 

Abortion pills, also called Plan C, require a prescription and can be used in the first 10 weeks of pregnancy to terminate it. 

Emergency contraception pills, as well as IUDs, reduce the chance of pregnancy after unprotected sex, the American College of Obstetricians and Gynecologists said on its website.

Driving the news: Experts are watching for what the health ramifications are of trigger bans and whether they might ban emergency contraception and other devices or procedures like IUDs or IVF, Axios’ Tina Reed said during Monday’s Axios Today podcast.

Details: Walmart, CVS and Rite Aid were among the retailers capping purchases of emergency contraception Tuesday.  

What they’re saying: “Many of our products have online purchase limits in place,” Walmart said in a statement to Axios. “During times of fluctuating demand, these limits may change.”

"Due to increased demand, at this time we are limiting purchases of Plan B contraceptive pills to three per customer," Rite Aid spokesperson Terri Hickey said in a statement to Axios.

Earlier in the week, CVS said it had placed a temporary purchase limit on tests to “ensure equitable access and consistent supply on store shelves."

CVS said in an updated statement shared with Axios that it was in “the process of removing the purchase limits" and that it continued to "have ample supply of emergency contraceptives to meet customer needs."

Walgreens sells out of Plan B, Take Action pills online

State of play: Walgreens temporarily sold out of Plan B for shipping, Walgreens spokesperson Emily Hartwig-Mekstan confirmed to Axios Tuesday. The pills were available for shipping again Wednesday morning.

Meanwhile, the chain does not have purchase limits in place, Hartwig-Mekstan said in a statement.

“Walgreens is still able to meet demand in-store, including leveraging digital-first solutions like curbside pickup,” Hartwig-Mekstan said. “At this time, we are working to restock online inventory for ship-to-home.”

Mark Cuban pharmacy has emergency contraceptives at a discount

Details: Mark Cuban’s online pharmacy Cost Plus Drug Company has 14 types of birth control and emergency contraceptives on its website that are available with a prescription.

Of note: While Cuban’s pharmacy doesn’t accept insurance, the website claims its "prices are less than what you would pay when using your insurance at a typical pharmacy."

The site has a 15% markup of manufacturing costs, plus a $3 pharmacy handling fee and a $5 shipping fee, according to Fortune.

Amazon limits how many Plan B pills you can buy

Amazon said Tuesday it will limit the sale of emergency contraceptive pills amid spiking demand after the Supreme Court's decision to overturn Roe v. Wade.

Details: The company told Axios it has a temporary quantity limit of three units per week on emergency contraceptive products such as Plan B.

CNBC found that the Plan B pill had a cap of three products per shopper. But a listing for the My Choice drug allowed 30 units per shopper.

Abortion pill online orders expected to grow post Roe

Biden admin put insurers on notice over birth control

Abortion pills become central issue after SCOTUS ruling

Editor's note: This article was updated to include information from Amazon and updated information from CVS.

Mark Cuban's online pharmacy is selling emergency contraception at a discount.

Some retailers have started to place purchasing limits on emergency contraceptives. Photo: Darin Oswald/Idaho Statesman/Tribune News Service via Getty Images

Abortion

A new global shortage is brewing in the condiments section, thanks to climate change and hotter temperatures.

Driving the news: Hot off of the sriracha shortage, there are reports of mustard shortages in France because of bleak mustard seed harvests in Canada, and global mustard supplies are now in jeopardy, UK-based The Independent reports.

Yes, but: A few of the largest mustard brands in the U.S. — Kraft Heinz (think Heinz and Grey Poupon) and McCormick & Co. (French’s) — told Axios that they don't expect shortages of their products in the U.S. ahead of July 4th barbecues and National Hot Dog Month.

What they're saying: "McCormick & Company is not experiencing shortages of mustard seed which we attribute to our resilient global supply chain and strong sourcing capabilities," company spokesperson Lori Amos Robinson said in a statement to Axios. "French's Mustard will be on store shelves for consumers to enjoy."

"Currently, we do not predict Grey Poupon will experience any major gaps in service," Kraft Heinz told Axios, noting brown mustard seed is one of the main ingredients in the mustard.

"As soon as our cross-functional Grey Poupon team identified a potential supply issue, we immediately worked to identify other sources of brown mustard seed in different parts of the world," the company said.

Meanwhile, inflation has led to a 10.1% increase in the prices of "spices, seasonings, condiments, sauces" in the last year, according to the latest Consumer Price Index. 

Huy Fong sriracha sauce in short supply amid chili pepper shortage

Fourth of July fireworks have "less bang" for the buck

July 4 cookouts will cost Americans 17% more this year: survey

Kraft Heinz and French's told Axios that they are not expecting a mustard shortage in the U.S. Photo: Kelly Tyko/Axios

Food

Kraft Macaroni and Cheese is getting a rebrand with a new blue box and a shorter name, "Kraft Mac & Cheese."

Driving the news: The 85-year-old brand revealed a new look Wednesday for its comfort food, which still includes a noodle smile but now it's "even more delicious and dripping with creamy, cheesy goodness," parent company Kraft Heinz said in a news release.

Meanwhile, dozens of Kraft's pasta products have been hit with price hikes recently because of rising costs of ingredients, labor and transportation, CNN reported.

CNN said there was a 20% hike for a 7.25-ounce dish of Kraft Big Bowl Macaroni and Cheese and a 3.5% increase on a pack of EZ Mac.

What they're saying: Kraft said the change from “macaroni and cheese” to “mac & cheese” is meant to reflect the way fans organically talk about the brand. 

“We know that people aren’t turning to comfort food as a guilty pleasure, they are positively embracing comfort, saying yes to feeling good, saying yes to caring for themselves,” Victoria Lee, Kraft Mac & Cheese brand manager, said in a statement. 

“There is a familiar, crave-able, positive comfort to Kraft Mac & Cheese that makes it so special and iconic to millions of people across the world and our new look is a reflection of what our brand means to our consumers,” Lee said.

Between the lines: Brand rebrands aren't new and Kellogg announced Tuesday it would split itself into three independent companies, Axios' Ivana Saric reported.

What's next: Kraft's new packaging will start to hit store shelves in August.

The updated look will start to appear across the brand's social channels and website this summer.

Biden outlines plan to lower gas prices by $1 a gallon

Where to get COVID vaccine appointments for children under 5

Walmart "canceling" MyPillow products from stores

Target offers rare clearance discount in overstock sale

Kraft said the new name is "meant to reflect the way fans organically talk about the brand."

Kraft announced a name change and a new look for its macaroni and cheese. Photo: Kraft Heinz

Target is clearing out its excess inventory by offering a rare discount on clearance merchandise. 

Why it matters: The retailer warned earlier this month that its overstock problem would eat into its profits this quarter, Axios' Hope King reported. As part of its plan to "right-size" its inventory, Target said it would take additional markdowns, remove excess inventory and cancel orders.

Record high rates of inflation cooled consumer demand and prompted people to rethink their purchases.

Target's last quarter was also tough with a 52% decline in net profits due to higher costs from labor, mistimed inventory, fuel and freight.

The big picture: Through June 25, shoppers can save an extra 20% on select clearance merchandise with an offer on its app through the Target Circle loyalty program.

Axios spotted nine clearance offers on Target Circle including clothing for women, men and children, shoes, sleepwear, swimwear and accessories.

The discount is available in stores and online but prices can vary by location. Many Target markdowns are between 30% and 70%.

Target has also been cutting prices on patio furniture, kitchen equipment, and other home goods  — the very items that for most of the last two years have been in shortest supply, Axios' Neil Irwin notes.

Target Deal Days return to compete with Prime Day

Target Deal Days are coming back for the fourth year and runs from July 11 to 13, overlapping with Amazon's Prime Day sale, Target announced this week.

Target's sale is a day longer than Prime Day and features savings on "hundreds of thousands of items across all categories," the company said.

There's also a new daily Target Deal of the Day online and the retailer's app.

Target military discount starts ahead of July 4

Meanwhile, Target is offering a military appreciation discount for active-duty military, veterans and military family members outside of its annual Veterans Day savings. National Guard and Reservists are also included.

Details: Verified military will get a 10% discount on up to two separate transactions, online or in-store, June 26 through July 4.

To get the discount, sign in to Target Circle and confirm your military status with a document, such as a Veteran ID card. You can start the process now.

IRS turns to voice bots to cut down taxpayers' wait times

Walmart "cancels" MyPillow products from stores

Amazon announces Prime Day sale dates, early deals

The Target discount is an extra 20% off select clearance items.

Target store, shopping carts being brought back in store

Target has a discount on select clearance merchandise for a limited time. Photo: Joe Raedle/Getty Images

Target

Walmart is the latest retailer to pull MyPillow products from its stores as the company's CEO Mike Lindell continues to claim that the 2020 election was rigged against former President Trump.

Driving the news: Lindell shared that Walmart was "canceling" his brand during interviews he streamed on his Facebook page this week.

Walmart confirmed to The Hill that it pulled MyPillow products from stores but said it would carry them online.

Last month, a federal judge sanctioned Lindell for making "frivolous" claims in an election lawsuit against Smartmatic, Axios' Erin Doherty reported.

Lindell filed his counter-suit after Dominion Voting Systems and Smartmatic sued him for defamation over his election fraud claims.

What they're saying: Lindell said in an interview on political strategist Steve Bannon's War Room podcast that Walmart pulling the products would be a "$10 million hit" to his company.

"You guys are canceling us just like the other box stores," Lindell said he had told a Walmart executive during an interview he streamed on his Facebook page this week. "Shame on you, Walmart. You're disgusting."

"While we are no longer carrying them in stores, MyPillow products continue to be available on Walmart.com," Walmart told The Hill.

Flashback: Other retailers, including Kohl's, JCPenney and Bed Bath & Beyond, pulled MyPillow products from stores in the days and weeks after the Jan. 6 Capitol attack in 2021.

Walmart raises pay for pharmacy technicians amid labor shortage

Juneteenth is now a day off for 30% of private employers

Editor's note: The caption on this article has been corrected to note that Walmart will sell MyPillow products online but not in stores. A previous version said Walmart would sell them in stores but not online.

MyPillow CEO and founder Mike Lindell said it's a "$10 million hit" to his company.

Walmart will sell MyPillow products online but not in stores, the retailer said. Photo: Ari Lindquist/Bloomberg via Getty Images

Walmart

Amazon's Prime Day sale will be July 12-13, bringing the annual shopping extravaganza back to July for the first time since 2019, the company announced Thursday.

Driving the news: The 48-hour sale kicks off July 12 at midnight PDT (3 a.m. EDT) and runs through July 13 for Prime members in select countries. Early deals will start June 21, Amazon said in its announcement.

The big picture: Prime Day, which the company launched in 2015 to reward Prime members, has been called Amazon's Black Friday in July sale and kicks off the back-to-school shopping season. 

Prime Day was held in July until 2020 when it was delayed to October amid the pandemic. Last year it was held in June.

Other retailers, including Target, Walmart and Best Buy, have run competing sales during Prime Day in the past.

Amazon highlighted some of the early deals that will start June 21 in its announcement. They include:

Discounts on select Amazon devices like Echo Show and Kindles.

Savings on Fire TV smart TVs, starting at $89.99.

Prime members can get the first three months of an Audible Premium Plus membership free June 21 through July 31.

Now through Prime Day, Prime members can earn a $10 credit toward their Prime Day order or future Amazon purchase by filling a stamp card by completing four Prime activities: streaming a Prime video; listening to Prime Music; borrowing Prime Reading or Kindle Unlimited book; and making a Prime-shipping eligible purchase.

Amazon says you need to activate your stamp card to participate.

Amazon is launching a contest June 21 that will run through July 11 to support small businesses.

For every $1 spent on eligible small business products in the time period, shoppers 18 and older get a chance to win prizes from gift cards to Super Bowl LVII tickets and VIP passes to events.

Editor's note: This story was corrected to reflect the sale runs through July 13, not June 13.

The annual shopping extravaganza is returning to July this year for the first time since 2019.

Amazon's Prime Day sale will be in July once again. Photo:  Rachel Jessen/Bloomberg via Getty Images

Amazon

Walmart is raising the average hourly pay for its store and Sam’s Club pharmacy technicians to more than $20 an hour and plans to give more frequent and automatic raises.

Why it matters: Amid a nationwide labor shortage of pharmacy technicians, the nation's largest retailer said Thursday it was introducing "a new, progressive wage model designed to set us apart from the competition."

The raises start this week for more than 36,000 pharmacy technicians.

Walmart said the technicians have been "front and center during the pandemic" testing customers for COVID and administering vaccines.

Flashback: This is the second increase in the past year for Walmart technicians, who last received raises in August 2021, the retailer said in a blog post.

By the numbers: A November 2021 survey by the National Community Pharmacists Association found that 68% of independent community pharmacies were having a "difficult time" filling staff positions with 88% stating that pharmacy technicians were in “short supply.”

The staffing shortages resulted in increased prescription dispensing times for 68% of pharmacies surveyed.

There were 419,300 technicians nationwide in 2020, according to the Bureau of Labor Statistics. 

The median annual wage for pharmacy technicians was $36,740 or $17.66 an hour in May 2021, the bureau noted.

Details: With its new wage model, Walmart said technicians will get more raises.

New pharmacy technicians get raises that "can add up to $4 to their starting base pay over the course of four years.”

The technicians will get raises every six months in their first two years with the company, Walmart said.

What they’re saying: “We believe we are among the first large retailers to incorporate this kind of model — an approach that’s commonly seen in healthcare systems,” Kevin Host, a Walmart senior vice president, and Sean Jackson, a Sam’s Club executive, wrote in a blog post.

Meanwhile, Walmart said technicians who are certified can make $3 more per hour than non-certified technicians.

Walmart said it covers costs for employees to get their certification through its Live Better U education program.

Walmart hiring for pharmacy jobs: Where to apply

What's next: Walmart said it plans to hire approximately 5,000 additional pharmacy technicians this year.

Walmart drops coconut milk amid monkey labor allegations

Walmart and Sam's Club pharmacy technicians will also get "more frequent, automatic raises."

Walmart pharmacy technicans will see their pay increase starting this week. Photo: Walmart

Private equity firm Ames Watson is levering portfolio company Lids with a new $250 million term loan to finance the private equity firm's acquisitions, it said Wednesday morning.

Why it matters: The new funding will help Ames Watson, which has a mix of long-term holdings as well as VC and PE investments, consolidate the retail and apparel industries.

Quick take: Goldman Sachs' global co-head of consumer retail Ben Frost predicted to Axios that both sponsor-driven transactions and apparel deals would both be prevailing themes in 2022.

Between the lines: Ames Watson tells Axios that the proceeds, more specifically, could be used for acquisitions of either add-ons complimentary to Lids or purchases of standalone platforms.

It gives the firm the ability to buy businesses with more than a billion dollars in revenue or a number of smaller companies.

Ames Watson lines up $250M for deals via Lids

Ames Watson raised $250 million to finance the acquisitions.

Sections

Axios Local

Axios gets you smarter, faster with news & information that matters.

About

Subscribe

All Retail stories