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With its complex web of travel perks, airport lounges and points, the premium credit card scene is more competitive than ever. But if the competition is heating up, luxury card stalwart American Express isnt feeling it. The credit card company just beat profit expectations in its second quarter earnings, a feat powered by strong spending that shows Amex cardholders arent jumping ship for rivals. With markets unstable and tariffs flying, Amexs laser focus on wealthy customers likely provides a buffer against financial forces that can put a drag on lower income spenders. We saw record Card Member spending in the quarter, demand for our premium products was strong,and our credit performance remained best in class, American Express CEO Stephen Squeri said. The companys billed business for the quarter was $416.3 billion, besting analyst estimates of $412.8 billion in card member spending. Total revenue was up 9% to $17.9 billion, an increase the credit card issuer attributed to more customer spending, card feed growth and higher income from revolving loan balances. Fending off the competition American Express is the old guard among premium rewards cards, but the company knows it needs to keep things fresh to stay competitive. The company recently announced its biggest card refresh to date, with reimagined perks designed to court the Gen Z and millennial cardholders who make up more than a third of its U.S. consumer spending. Were going to take these Cards to a new level, not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel, to meet the evolving needs of our customers, American Express Group President of U.S. Consumer Services Howard Grosfield said. Amex isnt sharing the specifics of its Platinum Card revamp yet, but other changes on the way soon reveal the companys preference for bespoke perks designed to smooth air travels many jagged edges. As Fast Company reported, Amex will roll out a pair of luxe updates that exemplify how the company plans to bolster its premium strategy. First, its Centurion Lounges will soon be revamped with rotating menus from James Beard Award-winning chefs, part of its new Culinary Collective. All 15 Centurion Lounges in the U.S. will feature the new menu items starting at the end of the month. Youd be lucky to get into each of their restaurants on a normal day, American Express Travel President Audrey Hendley told Fast Company. Now, you can try them all in one trip. Amex will also launch Sidecar, a new kind of lounge tailored to the needs of travelers seeking a short-term sanctuary, next year in Las Vegass Harry Reid International Airport. The lounge will offer small plates and table-side service designed to fit into a limited time slot. Were seeing a significant segment of travelers who only spend 30 to 45 minutes in the lounge, Hendley told Fast Company. Sidecar is our way of honoring that time with the same level of care and service. In the battleground of premium perks, everyone is vying to offer a little something special. Chase recently revamped its famed Sapphire Reserve card with a set of new travel credits and a higher annual fee. Citi is launching its own new premium card, the Citi Strata Elite, later this year to lure affluent customers away from the competition. If those challengers pose a real threat to Amex, you wouldnt know it. “Bring it on,” AmEx Chief Financial Officer Christophe Le Caillec told Reuters. “We’ve been in that space for decades and we have built assets that our competitors do not have.
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E-Commerce
If youre a fan of Trader Joes, there is some good news: The company says it will open 30 new locations across America soon. Heres what you need to know about the beloved (but controversial) grocery store chains latest openings. 30 new Trader Joes locations to open soon Back in April, Fast Company reported that Trader Joe’s was set to open 22 new stores soon. Now the retailer has expanded that list. As of today, the chains store locator tool shows that it has 30 new locations listed as coming soon. Those locations span 17 states and the District of Columbia. (Some of this list was reported earlier by USA Today.) The states with the most new openings are California, New York, Oklahoma, and Texas, all with three new stores listed as coming soon. Louisiana, Massachusetts, Pennsylvania, and Utah all have two store openings each. According to an announcement on the companys website, the next Trader Joes location to open will be its Northridge, California, store at 9224 Reseda Blvd. That store will open on Monday, July 21, at 9 a.m. Here is the full updated list of upcoming Trader Joes stores, according to the companys store locator tool. Arizona N Bullard Ave & McDowell Rd, Goodyear, AZ 85395 California 9224 Reseda Blvd, Northridge, CA 91325 2330 Foothill Blvd, La Verne, CA 91750 31545 Yucaipa Boulevard, Yucaipa, CA 92399 Colorado 9350 Sheridan Blvd, Westminster, CO 80031 Connecticut 801 Bridgeport Ave, Shelton, CT 06484 District of Columbia 5335 Wisconsin Ave NW, Washington, DC 20015 Florida 1511 Cornerstone Blvd, Daytona Beach, FL 32117 Georgia 258 City Circle, Peachtree City, GA 30269 Louisiana 2428 Napoleon Ave, New Orleans, LA 70115 2501 Tulane Ave, New Orleans, LA 70119 Massachusetts 1999 Centre St, Boston, MA 02132 1165 Needham St, Newton, MA 02464 Missouri 201 N Stadium Blvd, Columbia, MO 65203 New Jersey 675 US-1, Iselin, NJ 08830 New York 6400 Amboy Rd, Staten Island, NY 10309 388 Feura Bush Rd, Glenmont, NY 12077 302 NY-25A Miller Place, Miller Place, NY 11764 Oklahoma 1451 E Hillside Dr, Broken Arrow, OK 74012 6920 Northwest Expy, Oklahoma City, OK 73132 2083 NE Burnside Rd, Gresham, OR 97030 Pennsylvania 125 West Lincoln Hwy, Exton, PA 73132 550 Lancaster Ave, Berwyn, PA 19312 South Carolina 115 SayeBrook Pkwy, Myrtle Beach, SC 29588 Texas 12812 Shops Pkwy, Bee Cave, Bee Cave, TX 78738 8101 Eldorado Pkwy, McKinney, TX 75070 11745 I-10 W, San Antonio, TX 78230 Utah 1895 East Rodeo Walk Dr, Holladay, UT 84117 4060 Riverdale Rd, Suite B, Riverdale, UT 84405 Virginia 220 Constitution Drive, Virginia Beach, VA 23462 Trader Joes will soon cross the 600-store threshold Trader Joes opened its first store in 1967 in Pasadena, California. In the nearly sixty years since, the company has expanded across America. As of April 2025, the company had 581 stores across 42 states and the District of Columbia. Once the company opens the stores on this list, it will cross the 600 store threshold. Yet despite being an increasingly popular national grocery store chain in America, not much is known about Trader Joes financials, which does not publicly disclose its earnings. Trader Joes is privately owned and so not traded on any stock exchange.
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E-Commerce
Transportation can be affordable or even free (to the user) if we rethink the assumptions baked into our infrastructure and business models. The prevailing belief in the US is that roads, buses, bikes, and other forms of mobility must be either government-funded, directly paid for by customers out of pocket, or a combination of the two. Government subsidies are certainly one way transportation is made accessible (e.g. fare-free circulator bus), but with rising deficits at all levels of government, its risky to stake the future of mobility on public coffers alone. Theres another path: mobility as an amenity, a service, or a bundled offering. The illusion of ‘free’ is everywhere When people scoff at the idea of free transit or free bike share, what they really mean is, I dont want to pay for someone elses ride. It seems like a reasonable complaint, but misses a basic reality of how economies distribute costs. You already pay for roads youll never drive on. Roads cost millions to plan, build, and maintain, and that cost is distributed through taxes, fees, and even inflationnot usage-based tolls. Your gas taxes dont come close to covering the bill. You’re effectively financing road access for strangers in distant cities, and theyre doing the same for you. {"blockType":"creator-network-promo","data":{"mediaUrl":"","headline":"Urbanism Speakeasy","description":"Join Andy Boenau as he explores ideas that the infrastructure status quo would rather keep quiet. To learn more, visit urbanismspeakeasy.com.","substackDomain":"https:\/\/www.urbanismspeakeasy.com\/","colorTheme":"blue","redirectUrl":""}} Take a quick step away from transportation. When Verizon offers a free phone with a contract, its not philanthropy. The cost of that $1,000 Samsung Galaxy is baked into your $80/month service plan. Verizon gets bulk discounts from Samsung, pays less than retail, and recoups the cost (plus profit) through your two-year commitment. You get access to the benefits of a cell phone without paying $1,000 upfront. Now apply that model to transportation. What if access to a bike, bus, or car was bundled into a housing lease, a university tuition plan, or a neighborhood improvement district fee? You wouldnt buy the vehicleyoud pay for what the vehicle enables: connection, access, freedom. Youve seen this principle in action every time you ride a tram between airport concourses. You dont feed coins into a farebox to ride the train. Youre not asked to prove you paid a transportation fee. The cost of that train is baked into the operations of the airport, funded by airline gate fees, parking fees, tenant rents, advertising, retail partnerships, and who knows what else. Transportation as an amenity We can design mobility systems to be just as seamless. For example, an apartment complex could bundle access to shared e-bikes or shuttles into monthly rent. Employers could subsidize multimodal passes instead of parking. Retail centers could provide free local shuttle service to the light rail or bus rapid transit station as a way to boost foot traffic and sales. A neighborhoods residents could get access to a shared mobility hub through a Parking Benefit District. These ideas are only unconventional because weve been conditioned to believe mobility should follow a different financial model than every other major service in our lives. The belief that every transit system must be isolated from every housing development, commercial center, or public service is a legacy of outdated policy, not a law of nature. Transportation does not have to be a standalone product with a turnstile or toll. It can be a layer of accessa benefit embedded in the things we already value. Weve done it before. We already live in a world of subscription bundles, shared platforms, and embedded costs. Lets get past those old limiting beliefs about how we pay for getting around town. {"blockType":"creator-network-promo","data":{"mediaUrl":"","headline":"Urbanism Speakeasy","description":"Join Andy Boenau as he explores ideas that the infrastructure status quo would rather keep quiet. To learn more, visit urbanismspeakeasy.com.","substackDomain":"https:\/\/www.urbanismspeakeasy.com\/","colorTheme":"blue","redirectUrl":""}}
Category:
E-Commerce
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