Target said it reduced its inventory of non-essential goods throughout the second quarter by canceling more than $1.5 billion in orders and lowering commodity prices.
It is reported that the import volume of the Port of Los Angeles in July did not decrease. But Gene Seroka, executive director of the Port of Los Angeles, said imports may finally start to fall this month.
A new report from digital freight forwarding platform Shifl shows that container liner companies serving the U.S. trade have been able to improve transit times over the past three months, particularly on routes between China and the U.S. West Coast.
On 21 August, more than 1,900 port workers at the UK port of Felixstowe began an eight-day strike over wages that is expected to affect supply chains across Europe.
The latest U.S. CPI data was released. The July CPI year-on-year and month-on-month data were both lower than expected, indicating that inflation peaked and fell temporarily. But inflationary pressures remained strong, with the food price index rising 10.9 percent year-on-year, the fastest pace since May 1979. Although the energy price index fell month-on-month, electricity prices rose 1.6%.
This week, "Target", the second-largest U.S. department store, released its Q2 2022 earnings. The earnings showed that revenue was US$26.037 billion, a year-on-year increase of 3.5%, slightly lower than market expectations; net profit was US$183 million, a year-on-year drop of 90%.
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Compared to multiple LCL (less-than-container load) or FCL (full-container-load) shipments, the consolidation process allows shippers to increase load rates and reduce overall transportation costs. Typically, these consolidation services are handled by freight forwarders, who are also usually licensed NVOCCs.
