US business inventories increased by 0.3% in October, slightly higher than the 0.2% economists expected, according to the Commerce Department. Retail inventories rose 0.6%, while wholesale inventories increased 0.2% and manufacturing inventories remained unchanged. Overall business sales fell 0.2%, with wholesale sales declining 0.4% and retail sales falling 0.1%. The inventories-to-sales ratio increased to 1.38 from 1.37.

Do it Best is ahead of schedule on its integration with True Value, with a unified culture and collaborative approach driving faster alignment. The merger has brought tangible benefits, enabling enhanced vendor partnerships, broader product assortments and new technology investments. Challenges include managing change at a rapid pace, but the company has focused on fostering a culture of continuous learning and innovation.

Henry Schein has appointed Frederick Lowery as its next chief executive officer, effective March 2. Lowery will succeed Stanley Bergman, who will remain chairman. Lowery, formerly executive vice president and president of laboratory products and bioproduction at Thermo Fisher Scientific, brings over 20 years of health care experience, as well as prior experience with General Motors and Maytag.

Amid ongoing tariff uncertainty, conducting regular and thorough impact assessments has become essential for businesses. These assessments help organizations understand their exposure to current and potential tariffs by examining details such as parts numbers, countries of origin and supplier tiers. Rather than being a one-time exercise, impact assessments should be updated routinely, particularly following new or revised tariff announcements.

Economists at NRF 2026: Retail's Big Show expressed optimism about the US economy and consumer spending for 2026, despite concerns about weak job growth and a "K-shaped" economy. NRF Chief Economist Mark Mathews highlighted resilience in 2025 amid tariffs and political challenges, and Michael Pearce, chief US economist at Oxford Economics, noted that higher-income households are driving spending while lower-income households are struggling. David Tinsley, senior economist at the Bank of America Institute, pointed out that income growth disparity is a significant issue.

Marketing in 2026 will be marked by the erosion of a stable middle ground, driven by AI advancements and economic pressures. Brands are expected to push the limits of AI-generated content, particularly during major events like the Super Bowl, while also exploring bold and authentic creative strategies to stand out in a fragmented media landscape. Additionally, Generation Alpha's influence is rising, and marketers are increasingly investing in creator-led marketing and niche sports to reach diverse audiences.

Economic activity has improved slightly since mid-November, with most districts reporting growth at a slight to modest pace, according to the Federal Reserve's Beige Book. Employment conditions remained stable across most districts, with eight of twelve regions reporting little change in job levels. Wages grew at a moderate pace, with multiple contacts indicating that wage growth had returned to what they considered "normal." Price increases were described as moderate in most areas, with some businesses continuing to pass on tariff-related costs. Most regional outlooks expect slight to modest growth in the coming months, but the report also highlights ongoing business challenges.

Prioritize your organization's greatest asset — your people. NAW's premier education programs, such as the online Management Academy and the in-depth Distribution Leadership Program at THE Ohio State University, are designed to equip your high-potential employees with the skills and insights they need to lead and succeed. Ensure your rising stars are prepared to drive your business forward by investing in their growth today. Learn more about how NAW can help you develop the leaders of tomorrow.

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