Big news out of Peloton this morning: CEO Barry McCarthy is stepping down, and the company is laying off 15% of its workforce as the company continues to struggle after riding a pandemic high, Gabrielle T. Fonrouge reports. $PTON cnb.cx/3QorIqj

More Walmart news this am:
Walmart is launching a new food brand, as it tries to hang on to its inflation-fueled grocery gains. $WMT cnb.cx/4aVZiw6

Walmart pharmacies and vision centers will stay open — but all Walmart Health clinics will shut. In a release, the company said it couldn’t turn the clinics into a profitable business. $WMT

Just in: Walmart is closing all of its health centers and its telehealth service. It’s a striking end to the retailer’s effort to disrupt the health-care industry with lower prices for the doctor and dentist. cnb.cx/4dg8jS5 reported w/Annika Kim Constantino $WMT

Big news for Southwest fliers!

Diversity goals have vanished from many companies’ annual reports — including retailers Kohl’s, Nordstrom and Best Buy. Good reporting by Ben Glickman and Lauren Weber wsj.com/business/diver…

Walmart-backed fintech One has introduced buy now, pay later as it prepares bigger push into lending. The move could displace Affirm, Walmart’s current BNPL provider, and challenges other fintechs and established banks, Hugh Son and I report. $AFRM $WMT
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Just in: FTC sues to block Coach parent Tapestry's acquisition of Capri Holdings. $TPR $CPRI cnb.cx/4d6vIFD

Department stores face another squeeze. Store credit card revenue will get hit by a cap on late fees. $M $KSS $JWN cnb.cx/3U7RRfb

Big news for Macy's: The retailer has settled a proxy fight with activist Arkhouse and added two directors to its board, Rohan Goswami reports. $M cnb.cx/49EurCU

Eclipse travel day: One small airport had to close a runway down to park planes, the FAA posted short groundstops at others. h/t Melissa Repko for the lede. cnbc.com/2024/04/08/sol…

A fascinating case study: A province in Italy is defying the country’s declining birthrate by stepping up family-friendly benefits.

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Nearly half of Levi Strauss’ sales are coming from its own website and stores, Gabrielle T. Fonrouge reports. It marks a big shift for the denim maker that’s historically relied a lot on department stores like Macy’s and Kohl’s. cnbc.com/amp/2024/04/03… $LEVI $M $KSS

An interesting move in the grocery world: Amazon is ditching its cashierless checkout system at its grocery stores and leaning more into Dash Carts, which track and tally items as shoppers place them in their carts, Annie Palmer reports.

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Beauty has been one of retail’s hottest categories, but there are signs that demand is cooling. Ulta shares fell today after its CEO warned of a larger-than-expected slowdown in the first few months of the year. cnb.cx/43J43pS $ULTA

Macy’s hasn't closed stores yet. But as the department store shuts about 150 locations, Target, Kohl’s and other competitors see a sales opportunity. cnb.cx/4cE1QjC $M $TGT $KSS

Home Depot is spending big to go pro, buying distributor SRS Distribution for $18.25 billion, $HD’s biggest acquisition, ⁦Melissa Repko⁩ reports. cnbc.com/2024/03/28/hom…

In case you missed it… Canada Goose is cutting 17% of its corporate workforce. It follows a string of layoffs at other retailers, including Macy’s, Nike and Wayfair. cnb.cx/43BMKa4 $GOOS

Membership-based warehouse clubs are a hot part of retail.

Costco and Sam's Club are opening new locations. Their smaller rival BJ's Wholesale said it will open more clubs in the Southeast and Midwest. $BJ $COST $WMT cnb.cx/4abWxpX

Do-it-yourself customers are buying less and taking on smaller projects. So Home Depot is stepping up efforts to woo another kind of customer: home pros.

It’s opening four distribution centers to support large orders from remodelers and contractors. $HD cnb.cx/3TdDCnz