BUSINESS

Retailers across the U.S. continue to reevaluate growth strategies as cautious consumer spending and slower discretionary demand force companies to prioritize profitability over rapid expansion. For some chains, that means closing underperforming locations, slowing new store openings, and redirecting investment toward businesses with stronger long-term returns.Now, one of the nation’s largest rural lifestyle retailers is taking similar steps as it navigates an increasingly challenging operating environment. The company is closing dozens of stores, scaling back expansion plans, and withdrawing its long-term financial framework as it adjusts to changing consumer behavior.Founded in Chicago in 1938 as a mail-order tractor parts business, Tractor Supply Co. has grown into the largest rural lifestyle retailer in the U.S. The retailer expanded its pet business with its 2016 acquisition of Petsense, a specialty chain that sells pet food, toys, and supplies while also offering services such as professional dog grooming and in-store pet adoptions.Tractor Supply confirms store closures and slows expansionTractor Supply (TSCO) will close approximately 75 underperforming Petsense stores following a strategic business review.”We believe these actions will improve returns, simplify the business, and allow us to direct resources towards higher growth, higher return opportunities,” said Tractor Supply CEO Hal Lawton during the company’s second quarter of fiscal 2026 earnings call.The retailer is also slowing its expansion plans. It now expects to open approximately 85 to 90 new Tractor Supply stores in 2027, down from its previous target of 100 locations.Instead, the company plans to focus on strengthening its existing footprint by investing in Project Fusion remodels, optimizing store locations, and expanding its Final Mile delivery network.”Together, these investments will improve the customer experience, enhance store execution and productivity, and drive stronger returns across our existing store base,” Lawton added.Why Tractor Supply is closing Petsense storesPet-related products account for roughly 20% of Tractor Supply’s business, but the company said growth across the category has slowed as consumers become more selective with discretionary spending.”What has changed is customer spending behavior,” said Lawton. “Customers continue to invest in the care of their pets, animals, farms, and properties, but they’re shopping more deliberately, consolidating trips, and prioritizing needs-based items while taking a more measured approach to discretionary purchases.”Here’s some of my previous coverage of store closures:Sportswear giant continues store closures nationwideGrocery chain makes final major business closurePopular breakfast chain sold, 16 locations shut downThe Petsense closures are expected to result in approximately $71.7 million in impairment and other charges, including a $5.9 million inventory write-down.The announcement comes just months after Tractor Supply acquired veterinary services provider VIP Petcare in May 2026. The business operates clinics in about 2,700 retail locations, including 1,700 Tractor Supply stores. The acquisition generated $9.5 million in related expenses during the quarter.”The acquisition fills an important gap in our pet ecosystem, allowing us to connect veterinary services, prescriptions, and products across physical and digital channels,” said Lawton.The closures and slower expansion reflect Tractor Supply’s broader effort to improve profitability as softer discretionary spending continues to weigh on parts of the retail sector.

Tractor Supply Co. will close 75 Petsense stores and slow down expansion plans.Amy Beth Bennett/South Florida Sun Sentinel/Tribune News Service via Getty Images

Tractor Supply lowers outlook amid retail headwindsTractor Supply’s strategic shift comes after a weaker second quarter, reflecting continued pressure on consumer spending.During the second quarter of fiscal 2026, the company reported:Comparable sales declined 1.5%.Comparable transactions fell 1.7%.Net income decreased 1.5%.In response, the retailer withdrew its long-term financial framework and reduced its full-year guidance.Tractor Supply now expects fiscal 2026 sales to increase between 2.5% and 3.5%, down from its previous forecast of 4% to 6% growth. It also expects comparable-store sales to range from a 1% decline to flat for the year.As of June 27, Tractor Supply operated 2,463 namesake stores across 49 states and 209 Petsense by Tractor Supply locations in 23 states, underscoring that the closures represent a relatively small portion of the company’s nationwide footprint.Related: Ikea closing key U.S. stores

Long-term Treasury bonds have delivered one of their worst stretches in modern history, with prices falling steadily since 2021 as inflation remained above the Federal Reserve’s target. Investors who owned 10-year and 30-year government debt watched the value of those holdings erode quarter after quarter for five years running. Now, one of Wall Street’s largest banks is making the case that the losing streak may be nearing its end, and the catalyst is not a rate cut or a recession.Warsh’s inflation task force draws from the Volcker playbookBank of America’s Chief Investment Office laid out the argument in its July 20 Capital Market Outlook, a weekly report from the CIO Macro Strategy Team, alongside CIO Christopher Hyzy and Investment Strategist Kirsten Cabacungan. The macro strategy section, credited to the CIO Macro Strategy Team, focuses on three economists Warsh chose to lead the “Inflation Frameworks” task force.Greg Mankiw of Harvard University, Nobel Laureate Thomas Sargent of New York University, and William White of the C.D. Howe Institute each bring decades of research, arguing that the Fed lost its way by ignoring monetary aggregates.More Bank of America:Bank of America warns America now has 2 economiesBank of America answers a tough stock market questionBank of America gives stock market investors a summer reality checkMankiw published a 2024 paper indicating that Fed frameworks built on the Phillips Curve do not work in practice, the report noted. He credited economist Jeremy Siegel with predicting the post-pandemic inflation surge by tracking M2, a broad measure of the money supply that includes cash, checking deposits, and savings accounts.For the first time, the Fed’s semi-annual Monetary Policy Report released in July now includes a discussion of M2 in its evaluation of financial conditions, the BofA report stated. The last Fed chairman to pay serious attention to money-supply data was Paul Volcker in the early 1980s, when he set targets for monetary growth that eventually broke double-digit inflation.Why Warsh may accept 1% to 3% inflation as within targetBofA’s strategists argue that even without Warsh formally moving the target, the way the Fed interprets “2%” could shift.They linked that framing to Belief #6 in Harvard economist Greg Mankiw’s 2024 paper, which argues that “a target of 2 percent is superior to a target of 2.0 percent.” Federal Reserve Chairman Kevin Warsh said long-term inflation is primarily shaped by Fed decisions, CNBC reported.While monthly price fluctuations are inevitable, especially in an unsettled world, underlying inflation over longer time horizons is determined largely by monetary policy.Warsh said at the June press conference that any review of the 2% target is “outside the scope” of the task force until inflation is back at the goal level.The implication, according to the report, is that the Fed would aim to keep inflation in a range of roughly 1% to 3%, allowing it to average around 2% over time. That would mark a departure from recent policy, under which inflation ran persistently above 2% for five straight years because the Fed never allowed it to fall below target to compensate.

BofA says Warsh could interpret the Fed’s 2% inflation target more flexibly, accepting 1% to 3% while averaging 2% over time.Bloomberg/Getty Images

Morgan Stanley sees lower volatility at the long end of the curveBank of America is not alone in viewing the Warsh reforms as potentially transformative for bonds. Jim Caron, chief investment officer of the Portfolio Solutions Group at Morgan Stanley Investment Management, told Fortune that the new chairman’s approach should reduce price swings in longer-dated Treasuries.”If you can stabilize the volatility in the longer end by addressing the higher frequency of data in the shorter end… it could be a really good thing,” Caron explained. He described the front end of the yield curve as a “shock absorber,” meaning two-year notes would absorb policy volatility, while longer-dated bonds settle into a calmer trading range.That distinction matters for borrowers. Mortgage rates, corporate loan pricing, and auto financing all anchor to longer-term yields, so a more stable long end could eventually ease borrowing costs for households and businesses.What the Volcker parallel means for bank stocks and bond fundsBofA’s investment implications section draws a direct comparison to the early 1980s Volcker era. Committing to a framework that explicitly controls inflation would likely end the five-year bear market in long-term Treasury bonds, the report stated. It would also make financial sector stocks more attractive for the long run, and that conclusion aligns with the firm’s broader positioning. BofA’s Chief Investment Office currently favors Financials, Industrials, and Consumer Discretionary sectors, with an overweight recommendation on equities overall.A credible commitment to lower inflation would push long-term yields down over time, delivering price appreciation on top of current income for holders of 20-year-plus Treasury funds, according to BofA’s CIO Macro Strategy Team.Inflation and geopolitics remain the wild cardsThe BofA report does not ignore the risks. Cabacungan wrote in the Market View section that the durability of any shift depends heavily on whether inflation pressures stay contained.Renewed military tensions in the Middle East and their impact on oil prices remain a threat to the inflation outlook, the report warned. Second-quarter consumer price index inflation averaged roughly 3.8% year over year, well above the Fed’s stated target, with energy costs contributing significantly.Warren Buffett offered a measured endorsement of Warsh in a July 15 CNBC “Squawk Box” interview, saying he believes the new chairman “will do the best he can at achieving the job he was assigned to do, which is 2% inflation and maintaining maximum employment.”Whether the task forces produce a genuine structural shift or merely cosmetic changes to Fed communication will determine if the bond bear market truly ends, or simply pauses before its next leg down.Related: BofA sees lost year taking shape for gold

A group of state attorneys general have challenged the merger in a lawsuit, alleging it would drastically reduce competition and harm consumers.

One solution is getting a different job — but that’s not so simple.

Amazon has long derived a disproportionate share of its profit from its cloud division, Amazon Web Services (AWS).A growing number of Wall Street analysts are now projecting AWS will exceed consensus growth estimates when CEO Andy Jassy reports second-quarter results on July 30, The Motley Fool notes.The consensus estimate calls for $196.71 billion in total second-quarter revenue and earnings of $1.82 per share, according to analyst forecasts tracked by TipRanks. Several major banks are signaling that Wall Street has set the bar too low on the cloud side of the business.Bank of America sees AWS cloud growth reaching 33%Bank of America raised its AWS revenue growth forecast to 33% year over year for the second quarter, up from a prior estimate of 31%, according to Benzinga. The firm also projects Amazon will report total revenue of $198.8 billion and operating income of $24.1 billion, both above the Street consensus of $196.8 billion and $23.6 billion, respectively.The bank cited growing demand from Anthropic, OpenAI-powered Bedrock services, and broader enterprise adoption of artificial intelligence as catalysts for the accelerated cloud growth, Benzinga reported.More Amazon:Bank of America doubles down on Amazon shares after Prime DayAmazon’s $8.3 billion Prime Day sends Wall Street a warningAmazon Prime Day gives Wall Street a $22B reason to take noticeBank of America reiterated its buy rating and $310 price target on the stock, the report noted.KeyBanc analyst Justin Patterson raised his price target from $325 to $335 and now expects AWS to grow 31% year over year through both 2026 and 2027, TipRanks reported. Goldman Sachs analyst Eric Sheridan also raised his target to $335, forecasting AWS growth of about 33% this year and close to 35% in 2027, TipRanks noted.Amazon’s first quarter showed AWS already acceleratingThe bullish analyst revisions are not coming from speculation alone, because the first quarter results gave them a foundation to build on. AWS generated $37.6 billion in revenue during the first three months of 2026, a 28% year-over-year increase that marked the division’s fastest growth in 15 quarters, according to Amazon’s earnings release.That cloud segment accounted for 21% of Amazon’s total first-quarter sales but generated 59% of the company’s operating profit, highlighting just how much the bottom line depends on Jassy’s cloud business.Amazon CEO Andrew Jassy said cloud revenue surged at its fastest pace in nearly four years.Growth continued to accelerate, up 28% year over year, the fastest growth rate in 15 quarters, up $2 billion quarter over quarter, the largest Q4 to Q1 AWS revenue increase ever.AWS posted $14.2 billion in operating income during the first quarter at a 37.7% operating margin, up from $11.5 billion in the same period a year earlier, the earnings release showed. Amazon’s total operating income reached $23.9 billion at a 13.1% margin, which Jassy described as the highest operating margin in the company’s history.The company guided second quarter revenue between $194 billion and $199 billion, with operating income expected in a range of $20 billion to $24 billion, the release confirmed.

Amazon’s AWS delivered its fastest growth in nearly four years, fueling record operating margins and strengthening confidence in future earnings.SOPA Images/Getty Images

How custom chips and Anthropic are driving AWS growthBehind the headline revenue figures sits a custom silicon business that has become a significant contributor to Amazon’s cloud momentum. Amazon’s chips division, which includes the Graviton, Trainium, and Nitro product lines, surpassed a $20 billion annualized revenue run rate in the first quarter while growing at triple-digit percentages year over year, Jassy noted in his 2025 annual letter to shareholders.Trainium2 chips delivered about 30% better price performance than comparable graphics processing units and have largely sold out, while the newer Trainium3 chips began shipping at the start of 2026 with another 30% to 40% improvement, Jassy wrote. Even Trainium4, which is still roughly 18 months from broad availability, already has a significant portion of its capacity reserved by clients, he added.Bank of America estimates that Anthropic-related workloads alone could contribute more than $1.5 billion in sequential AWS revenue growth during the second quarter, Benzinga reported. That figure underscores how Amazon’s investment in the AI startup is translating into measurable cloud demand, not just paper gains on its balance sheet.What to watch beyond the AWS headline revenue beatThe July 30 report will produce a top-line revenue number and an earnings-per-share figure, but analysts have flagged several additional metrics as more consequential. Bank of America analysts said investors should pay closer attention to AWS operating margins, capital expenditure guidance for the remainder of the year, AI backlog expansion, and management commentary around Trainium adoption, Benzinga reported.The stock currently carries a strong buy consensus rating from 46 analysts as of July 22, with an average price target of about $319 to $320 that implies roughly 29% upside from its recent trading price near $244, TipRanks data showed. Amazon shares have gained about 7.6% year to date and trade at approximately 29 times forward earnings. Jassy’s ability to deliver the blowout that analysts expect hinges on how much of that contracted computing capacity has already converted into recognized revenue.Related: Amazon may be losing its biggest competitive edge

Enterprises deployed AI agents ahead of the controls needed to manage them — and they did it knowingly. That is the central finding across the five parallel surveys VentureBeat Research fielded in June, spanning every layer of the agentic stack. Now those enterprises are retrofitting to catch up with their own standards, and they are budgeting for it: In each of the five control layers we measured, 57 to 68% of enterprises plan to switch vendors or add new ones within 12 months, and roughly a third, depending on the layer, plan to move within the quarter.VentureBeat Research measured the five controls an enterprise has to build before it can trust an agent: identity, evaluation, cost telemetry, the context layer, and orchestration. Identity governs which agent is allowed to do what, under whose credentials. Evaluation determines whether the agent’s work is any good. Cost telemetry tracks what each agent costs to run. The context layer supplies the business data and definitions agents draw on when they answer. And the orchestration control plane coordinates multi-step agent work. Each of our five reports measures one of those controls.Most deployed “agents” are chatbots wearing the label. Seventy-one percent of enterprises said a quarter or fewer of their deployed “agents” can complete multi-step work on their own; only 10% said true agents are the majority of what they run. These respondents are positioned to know: 81% recommend or decide AI purchases at their companies. A single-prompt chatbot with a human reading every answer needs none of the controls the other four reports measure. A true multi-step agent needs all of them — and most enterprises can’t say which one they’ve deployed. (Full findings: Agentic Orchestration report.)Autonomy is outrunning trust in the evaluations that gate it. Two-thirds of enterprises either already allow an agent to push a code or system change to production on automated evaluation results alone, with no human review, or are actively engineering toward that within 12 months. Only 5% fully trust the evaluations that would make that call — and half of enterprises shipped an agent that passed internal evaluations and then caused a customer-facing failure in the past year. Before removing human review from any workflow, test evaluations against production outcomes rather than internal benchmarks. (Full findings: Agent Reliability & Evals report.)Companies that let agents share credentials get hit more often. Sixty-nine percent of companies let at least some of their agents share credentials — multiple agents operating under one API key or service account. Organizations that allow credential sharing anywhere experienced a security incident or near-miss at a 63.5% rate (47 of 74), against 40.9% (nine of 22) at companies where every agent has its own scoped identity. The fix is scoped identity for every agent, starting with the ones that touch production systems. (Full findings: Agentic Security & Identity report.)The most expensive hardware in the building runs at half capacity or less. More than eight in 10 enterprises that run their own GPUs reported utilization of 50% or less, and only 44% rigorously track what their AI compute actually costs and returns. The number worth chasing first isn’t more GPUs — it’s the utilization and per-workload cost of the ones already running. (Full findings: AI Infrastructure & Compute report.)Agents answer confidently from data nobody governs. Fifty-seven percent of enterprises traced a confident, wrong agent answer in the past six months to their own missing or inconsistent business context — wrong metrics, stale definitions, absent documents — and most saw it happen more than once. Governing the definitions agents answer from — metrics and entities first — has to come before scaling the agents that depend on them. (Full findings: Context Layers / RAG report.)No layer has an entrenched incumbent: The defaults today are the built-in tools that ship with the big AI platforms enterprises already use. Switching intent runs highest in orchestration itself, where 68% plan to adopt, add, or replace platforms within 12 months and 34% within the quarter. Our surveys did not ask which direction that money moves — toward the platforms’ built-in tools or toward the specialists challenging them — and that open question is the next four quarters of this market.About this research VentureBeat Research fielded five parallel surveys in June 2026 under its VB Pulse program: Agentic Orchestration (101 respondents), Agent Reliability & Evals (157), Agentic Security & Identity (107), AI Infrastructure & Compute (107), and Context Layers / RAG (101) — 573 qualified respondents in total, all at organizations with 100 or more employees. Samples are self-selected, and some findings should be read directionally; each report carries its full methodology note. What the pattern supports more strongly than any single percentage is the direction: every survey, independently, points the same way. VentureBeat produces both this research and VB Transform, the conference where these reports debuted.

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TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealPools can be an expensive long-term investment. In-ground pools certainly are more costly than the above-ground counterparts, but even those that require no digging or cementing can be expensive if you’re not providing proper upkeep. Disregarding proper chlorine and pH levels, adding the wrong cleaning chemicals, and letting dirt and debris pile up won’t just make your pool a place no one wants to take a dip in. Over time, it contributes to algae and bacteria growth, structural damage, and equipment strain — and whether you paid $30,000 or $3,000 for your pool, no one wants to lose money when they can simply get some help with products like the Syvio Handheld Pool Vacuum to keep that backyard oasis pristine and clean.Although consistent vacuuming can be annoying, taking 15 minutes every week to clean your pool can help the filtration system perform better, and for longer, as well as ensure that the water quality is safe for anyone who takes the plunge. And although pool equipment, like pools themselves, can be expensive, Walmart’s Flash deal can help you get the Syvio Handheld Pool Vacuum on sale for 53% off. Now is your chance to shop the cordless device for $89 instead of $190 for a limited time. Syvio Handheld Pool Vacuum, $89 (was $190) at Walmart

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