Category: Retail

Will Store Closures Help J.C. Penney Bounce Back?

J.C. Penney announced that it planned to close 130 to 140 stores as well as two distribution centers in the coming months. The struggling retailer follows in the footsteps of Sears and Macy’s , both of which have plans to shut stores to cut costs as shoppers move away from mall-based retailers.

Amidst Fierce Competition, Target Is Unlikely to Recover Soon

Bricks-and-mortar, retail giant Target Corp has seen its shares plummet about 24% year to date year-to-date, under-performing rivals like Wal-Mart and Costco , and even minnows such as Dollar Tree and Dollar General . Despite the company’s intent to focus more on digital commerce , doubts remain surrounding the company’s strategy for reviving earnings .

Staples Stock Falls Premarket on Earnings Miss

Staples stock was falling nearly 2% premarket after the office supply retailer reported fourth quarter earnings of 25 cents per share on revenue of $4.6 billion. Analysts on average were expecting the company to report earnings of 26 cents per share on revenue of $5 billion.

Daily Dividend Report: PBA, PLCE, AMGN, SPLS, VGR

Pembina Pipeline announced today that its Board of Directors declared a common share cash dividend for March 2017 of $0.16 per share to be paid, subject to applicable law, on April 15, 2017 to shareholders of record on March 25, 2017. The Children’s Place, the largest pure-play children’s specialty apparel retailer in North America, today announced that its Board of Directors has approved a new $250 million share repurchase program and has increased the Company’s quarterly dividend to $0.40 per share from $0.20 per share.

S&P 500 Analyst Moves: ORLY

The latest tally of analyst opinions from the major brokerage houses shows that among the components of the S&P 500 index, O’Reilly Automotive is now the #99 analyst pick, moving up by 1 spot.

Vancouver’s foreign buyer tax sparked Chinese interest in rest of Canada, report finds

TChinese enquiries of the listings in the Vancouver real estate market slumped by 81 per cent year-over-year in July 2016, the month the city’s 15 per cent foreign buyers tax tax was announced, according to a new report from Sotheby’s and Juwai.com. Chinese property enquiries in several big Canada markets spiked in the months after Vancouver introduced its foreign buyers tax, according to a report based on data culled from searches on a top Chinese foreign property website.

Costco Is Quietly Becoming a Digital Player

In its 2017 first fiscal quarter, which covered the 2016 holiday season, Galanti noted that while overall digital sales had risen by 7% year-over-year, the numbers during the Black Friday period were much better. During the week of Thanksgiving and the two that followed, he said, digital sales had risen by the low-to-mid teens.

What Was Up With Snap’s NYSE Banner?

This week, the 26-year-old tech billionaire Evan Spiegel became the founder of a company that just raised more than all the tech IPOs in 2016 combined , and opened up an additional 41% from its initial offering price. The former frat guy is essentially the updated American dream, complete with an engagement to L Brands Victoria’s Secret model Miranda Kerr.

What Was Up With Snap’s NYSE Banner?

This week, the 26-year-old tech billionaire Evan Spiegel became the founder of a company that just raised more than all the tech IPOs in 2016 combined , and opened up an additional 41% from its initial offering price. The former frat guy is essentially the updated American dream, complete with an engagement to L Brands Victoria’s Secret model Miranda Kerr.

Two Big Reasons Wall Street Is Ignoring Abercrombie’s Earnings Whiff

Abercrombie & Fitch just took the wraps off weak fourth-quarter and full-year 2016 results, but Wall Street, if not millennials, seem to be buying into what the company’s value-oriented Hollister division is selling. On Thursday, Abercrombie reported fourth quarter earnings of 71 cents a share on $1.04 billion in revenue, lower than estimates for earnings of 75 cents a share on $1.05 billion, according to analysts surveyed at Factset.

How to Play a Gamestop Breakout Rally

Shares of the video game and accessories retailer GameStop are forming a basing pattern just below their 200 day moving average. Bullish technical divergences suggest a breakout is imminent and the large outstanding short interest could spark a covering rally that has the potential to realize an 18% gain.

Two Retailers, One Big Worry

Two retailers moving in different directions have at least one thing in common: They are terrified of a border-adjusted tax. Target Corp. and Best Buy Co., both set to report earnings this week, are among a group of retailers that sent executives to meet with President Donald Trump earlier this month, lobbying against higher taxes on imports.

Wal-Mart Launches New Front in U.S. Price War

Wal-Mart Stores is running a new price-comparison test in at least 1,200 U.S. stores and squeezing packaged goods suppliers in a bid to close a pricing gap with German-based discount grocery chain Aldi and other U.S. rivals like Kroger Co, according to four sources familiar with the moves. Wal-Mart launched the price test across 11 Midwest and Southeastern states such as Iowa, Illinois and Florida, focusing on price competition in the grocery business that accounts for 56 percent of the company’s revenue, said vendor sources with direct knowledge of the matter who did not wish to be identified for fear of disrupting business relations with Wal-Mart.

Jim Cramer — Mall Trends Concerning for J.C. Penney Earnings

Shares of J.C. Penney have struggled this year, down more than 16% as the company gears up to report its fourth-quarter earnings results Friday before the open . J.C. Penney is another apparel-selling, mall-based retailer, and that’s not good, TheStreet’s Jim Cramer, co-manager of the Action Alerts PLUS portfolio , said from the floor of the New York Stock Exchange Wednesday.

Kohl’s Reports Lower-Than-Expected Sales

Department store operator Kohl’s reported lower-than-expected quarterly sales as it struggles with low demand for apparel and competition from online retailers. Net income fell to $252 million, or $1.44 per share, in the fourth quarter ended Jan. 28, from $296 million, or $1.58 per share, a year earlier.