Target named a former Walmart and QXO executive as its new head of supply chain as it tries to reverse years of sluggish sales that were caused, in part, by unreliably stocked shelves.

Target said Jeff England would become its chief global supply-chain and logistics officer, replacing longtime Target executive Gretchen McCarthy. Forty-eight-year-old England, most recently head of supply chain at building-products distributor QXO, will start the job at the end of this month, the WSJ’s Sarah Nassauer writes.

Target struggled to dependably stock its shelves in the wake of the pandemic after its sales skyrocketed, then subsided. The Minneapolis-based retailer has reported 13 consecutive quarters of weak or falling sales, in part because the goods shoppers want aren't necessarily in stock.

• Home Depot posted lower quarterly profit and its CFO said homeowners continue to pull back on large home-improvement projects because of economic uncertainty. (WSJ)

The Department of Justice indicted four shipping-container makers, alleging they conspired to restrict output and fix prices for at least four years. The companies–Hong Kong’s Singamas Container Holdings, China International Marine Containers, Shanghai Universal Logistics Equipment and CXIC Group Containers–supply nearly all of the world's standard unrefrigerated containers, the DOJ said.

The Journal’s Elias Schisgall writes that the four firms allegedly conspired to roughly double container prices between 2019 and 2021, resulting in a roughly one-hundredfold increase to their profits, the DOJ said. In addition to the four companies, the DOJ also indicted multiple executives at the firms, including the CEOs of Singamas, CIMC and CXIC.

The indictment supersedes a previous indictment of Singamas’s marketing director, who was arrested in France last month. His extradition to the U.S. is pending, the DOJ said. Singamas, Shanghai Universal and CXIC didn’t immediately respond to requests for comment. CIMC couldn’t be immediately reached for comment.

Custom manufacturing startup SendCutSend secured a $110 million investment co-led by Sequoia, Paradigm and Stripe co-founders, valuing the business at $1 billion.

SendCutSend, founded by Jim Belosic, is one of a growing group of companies focused on the production of physical goods that are drawing backing from venture-capital firms that previously focused on buzzy software and AI-native companies.

The WSJ’s Kate Clark writes that SendCutSend has become a key supplier to a range of businesses, producing everything from data-center racks and brackets to robot prototypes. Belosic’s goal is to bring Amazon-like delivery speeds to industrial fabrication and make custom parts instantly accessible across major metropolitan areas. The company currently has facilities in Nevada, Kentucky and Texas and plans to add more.

• A bipartisan House bill proposes annual registration fees for EV owners to fund highway infrastructure and would set rules for self-driving commercial trucks, as well as increase spending on roads, bridges and railways. (WSJ)
• The U.S. pending home sales index rose 1.4% on month to 74.8 in April, beating economists’ forecast for a 1% increase. (WSJ)
• Canadian annual inflation accelerated to 2.8% in April, the highest since May 2024, driven by rising energy prices. (WSJ)
• The eurozone’s seasonally adjusted trade surplus narrowed in March, likely reflecting increased imported energy costs because of the Iran war. (WSJ)
• Japan’s real GDP grew 0.5% sequentially in the first quarter, compared with a 0.2% expansion in the previous quarter. (WSJ)
• Jeep-maker Stellantis will start producing a new range of EVs to serve the small-car market in Europe. In particular, it plans to establish a new JV with Chinese partner Dongfeng Group that will manufacture and sell Dongfeng vehicles in selected European markets. (WSJ)
• Samsung Electronics’ management and union leaders failed to reach a bonus-pay deal in talks aimed at averting a strike at the world’s largest memory-chip maker. (WSJ)
• A federal investigator said UPS chose not to take action after letters from Boeing in 2008 and 2011 flagged cracking in a component of the type of plane that crashed last year. (Bloomberg)
• A bankruptcy court approved STG Logistics’ plan to emerge from bankruptcy and reorganize in the coming weeks, eliminating over $1 billion in debt. (Journal of Commerce)
• BNSF Railway named Craig Morehouse as its chief operations officer, replacing Matt Garland, who stepped down after five months in the job. (TrainsPRO)

Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.