business news in context, analysis with attitude

With brief, occasional, italicized and sometimes gratuitous commentary…

•  The New York Times this morning reports that "the nation’s extreme shortage of job seekers worsened in September, the Labor Department reported Tuesday, after easing the previous month.

"Employers had 10.7 million positions open as summer ended, up from 10.3 million in August. That left roughly 1.9 posted jobs for every unemployed worker, a persistently high ratio even as the economy appears to be decelerating because the Federal Reserve is working to quell inflation."

•  Publix Super Markets said this week that sales for the three months ended Sept. 24, 2022, were $13 billion, a 9.2 percent increase from $11.9 billion in 2021. Same-store sales were up 7.6 percent.  Net earnings for the period were $394.1 million, compared to $856.9 million in 2021, a decrease of 54 percent.

Year-to-date sales were $39.2 billion, up 10.7 percent from the same period a year ago, with same-store sales up nine percent.  Net earnings for the nine months were $1.6 billion, compared to $3.4 billion in 2021, a decrease of 51.2%.

•  Ahold Delhaize-owned Stop & Shop "announced the launch of its annual Turkey Express program, a month-long initiative dedicated to donating holiday meals to hunger relief organizations and families in need ahead of Thanksgiving. Stop & Shop has a longstanding history of giving back to the communities it serves with a focus on fighting hunger, an issue that continues to be prevalent amidst inflation and rising food costs. According to Feeding America, in 2021 alone, 53 million people turned to food banks and community programs for help … Stop & Shop will deliver 25,000 Thanksgiving turkeys, equaling a total of nearly 400,000 pounds, to 30 community partners and hunger relief organizations across Massachusetts, Connecticut, Rhode Island, New York, and New Jersey."

Perhaps even more impressive this year at a time when there is much conversation about a turkey shortage.  (Though I am told that for retailers and shoppers who have been aggressive early in placing order, it won't be as acute as some might have feared.)

•  In Minnesota, the Star Tribune reports that "Target will add a bit more pomp to its grocery aisles this holiday with the addition of British retailer Marks & Spencer's popular treats.

"In the first time it has partnered with the British brand, Target will sell a limited collection of chocolates, biscuits, teas and other goods from Marks & Spencer starting in mid-November.  Customers will find products like a shortbread biscuit tin in the shape of a red double-decker London bus and Percy Pig sweets."