Retail news: 10 things you need to know today

Whole foods millennialsDamian DovarganesWhole Foods Market cashier Aracelis Ramirez charges customer Thomas Carroll at a Los Angeles store.

Want to know what’s going on in the retail world today? Check out a list of the latest trending news.

1. Whole Foods is about to get cheaper.

The grocery store chain, which has been plagued by the nickname “Whole Paycheck,” says it will offer more promotions in order to compete with the growing organic food market.

2. Target will close these 13 store locations.

Click here to see if your store is closing in January 2016.

3. Michael Kors says the small handbag trend is hurting profits.

Consumers increasingly prefer crossbody and small bags, which retail for less than their larger counterparts. This has led to a slowdown in profits.

4. Customers go crazy over the opening of H&M x Balmain line in New York City.

Shoppers are dying to get their hands on Olivier Rousteing’s designs for a fraction of the price at H&M. Some even camped out in front of the store as if it were Black Friday.

5. This restaurant will make you a meal from food waste.

A Dutch restaurant called InStock makes lunch and dinner from whatever edible food happens to be pulled off store shelves that day.

6. Panera will use cage-free eggs by 2020.

Following similar moves by McDonald’s and others, Panera will stop using eggs from caged hens.

7. L.L. Bean hires a new CEO to boost online sales and stop boot back order.

L.L. Bean CEO, Chris McKormick, is stepping down after 33 years. The company has only had four CEOs in its 103 year existence. The company is hiring former Walmart executive Steve Smith for the job.

8. Some schools are airing a documentary that promotes McDonald’s food as a weight-loss tool.

School teacher John Cisna is also working as a brand ambassador for McDonald’s and is travelling to a least 90 schools and colleges across the nation to screen his 90-day experiment in which he ate McDonald’s three times a day and lost 37 pounds.

9. Are wheat coloured sneakers in? Reebok and Nike think so.

Reebok just released its “Wheat Pack Collection” shoes, while Victor Cruz is launching his wheat-coloured sneakers with Nike.

10. People lined up at Taco Bell this morning for free breakfast Crunchwraps.

Taco Bell spent a reported $US10 million dollars to offer free food after losing a bet about the World Series.

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