While both of those chains have lost sales and closed stores, largely due to customers moving to the internet, the warehouse club continues to add locations. Costco is not a massive growth story, but it is reliable at a time when many retailers — not just Sears and Macy’s — have struggled to find a way to keep customers coming in.
Category: Retail
Windstream to eliminate 164 jobs in Little Rock
Windstream spokesman David Avery says the job cuts came from various areas, including engineering, finance and information technology. Avery tells the Arkansas Democrat-Gazette that Windstream has about 12,000 employees, including 1,450 in Little Rock.
Walgreens-Rite Aid Clock Runs Down With No Extension Set
Walgreens Boots Alliance Inc. Chief Executive Officer Stefano Pessina says he still believes in his company’s purchase of Rite Aid Corp., but declined to say whether the companies will extend the deal just three days from their agreed deadline to complete the merger. The acquisition hasn’t yet received antitrust approval from the Federal Trade Commission, and Walgreens hasn’t made a key filing saying it’s answered all the agency’s questions.
President Of Gap Unit Banana Republic To Leave The Company
Gap Inc. said Tuesday that Andi Owen, global brand president for Banana Republic, will leave the company in late February. Gap’s brands include its namesake, Banana Republic and Old Navy.
Our Investing Resolutions for 2017
In this clip from Industry Focus podcast, two Motley Fool analysts share their financial New Year’s resolutions for 2017. Listen in to find out one possible and practical way to combat emotional stock buying, how to quantify the value of the time you put into researching the companies you buy, and when it might be time to make a hard decision on a small position.
Windstream trims 164 jobs, 25 in LR
“The actions are part of our ongoing efforts to efficiently manage the business and to align resources to current work demands and opportunities,” Avery said. “Decisions that affect our employees are difficult, but necessary to manage our costs and position the company for success,” Avery said.
Revenue and Earnings Fall at American Express
Shares of the credit card giant are down since the news, dropping by 2% over the intervening days. American Express earned $825 million in the three months ended December 31, down 8% from the year-ago period.
Better Buy: Target Corporation vs. Home Depot Inc.
But the similarities don’t end there: They are also both big-box retailers that many retirees consider investing in given their dividend payments and lengthy operating histories. But which stock is the better buy today? There’s no way to answer that question with 100% certainty, but there are three different approaches you can take, and each will help you make a more informed decision for your own retirement portfolio.
Better Buy: Whole Foods Market, Inc. vs. Sprouts Farmers Market Inc
And emerging from the Great Recession, it proved to be an amazingly profitable niche to occupy. But with that success came competition — from traditional grocers and specialty shops alike.
Windstream’s $1.1B EarthLink marriage gets FCC’s blessing
Windstream Holdings Inc. of Little Rock and EarthLink Holdings Corp. have been granted approval by the Federal Communications Commission to move forward with a planned $1.1 billion merger. The companies announced the deal in November.
How Home Depot Inc. Has Changed in the Last 5 Years
Shares tripled, compared to a 160% jump for Lowe’s Yet the home improvement giant is a different company than it was back in early 2012. Below, I’ll highlight the key changes that could impact investors the most going forward.
Dollar General Seen Suffering From Rising Wage Pressures, Competition
Dollar General faces rising wage pressures and mounting competition to open new locations, and that has prompted analysts to revisit their earnings assumptions for the discount retailer. BMO Capital Markets this week reduced its earnings forecasts for 2017 to $4.70 a share from the prior $4.85, bringing what had been among the higher projections on the Street more in line with analysts’ consensus.
Why GNC Holdings, Aaron’s, and Dean Foods Slumped Today
The stock market lost ground on Thursday, as investors sent the Dow Jones Industrials below the level at which the average began the year. Losses for the S&P 500 and Nasdaq Composite were modest at around a third of a percent, but they reflected a downbeat attitude among investors, who are struggling to predict what’s likely to happen on the political and macroeconomic fronts for the remainder of the year and beyond.
American Express Profit Falls 8.2% as Expenses Top Estimates
American Express Co., the largest U.S. credit-card issuer by purchases, said fourth-quarter profit fell 8.2 percent as expenses exceeded analysts’ estimates and the firm set aside more money to cover bad loans. Net income dropped to $825 million, or 88 cents a share, from $899 million, or 89 cents, a year earlier, the New York-based company said Thursday in a statement.
Cramer: Trump Tariffs Will Slam Chain Stores
Jim Cramer says President-elect Donald Trump’s proposed tax on imported goods will hurt U.S. department-store stocks “very much,” but that two of his favorite picks — TJX Cos. and Costco — should weather the storm.
AmEx Profit Lags Estimates as Chenault Invests 35% More in Marketing
American Express posted lower profit in the last three months of 2016 than analysts expected as CEO Kenneth Chenault boosted spending on marketing and promotion by 35% to replace some of the revenue lost with the Costco portfolio. net income dropped 8% from a year earlier to $825 million, the New York-based company said in a statement .
Sell Target Stock on Weak Holiday Sales, Amazon Competition: Goldman
Target’s stock rating was cut to “sell” from “neutral” at Goldman Sachs on Thursday following the retailer’s disappointing holiday sales report and competition concerns. The stock dropped 1.45% to $65.88 in mid-afternoon trading.
Galen G. Weston succeeds father as George Weston CEO
Galen G. Weston will succeed his father as CEO of George Weston Ltd., and remain CEO of Loblaw Companies Ltd. The younger Weston will also remain chairman and CEO of the company’s largest subsidiary, Loblaw Companies Ltd., which also owns Shoppers Drug Mart.
Will 2017 Be Costco Wholesale Corporation’s Best Year Yet?
While other brick-and-mortar retailers struggled, Costco held its own and grew a little bit. On the other hand, investors clearly didn’t see 2016 as an up year for the company.
Jim Cramer — Border Tax Issues Boosting Retail, for Now
Retail stocks including Walmart , PVH Corp. , Best Buy , Nike are on the move Tuesday after President-elect Donald Trump said the U.S. dollar is too strong and the proposed Border Adjustment Tax is “too complicated.” What should investors infer? That perhaps the potential import tariffs or other border taxes will be more difficult to institute than previously thought, TheStreet’s Jim Cramer, co-manager of the Action Alerts PLUS portfolio , said on CNBC’s “Stop Trading” segment.
J.C. Penney Stock Jumps on Nike Partnership
Shares of J.C. Penney were rallying almost 4% in Tuesday morning trading after announcing that it will include Nike shops in more than 600 of its stores. The Plano, Texas-based company will dedicate 500 square feet to Nike products within a “prominent” location of the men’s department, according to a statement by J.C. Penney.
Tractor Supply Looks Ready to Sprout
Shares of Tractor Supply bought the farm in September after the company reported disappointing results. The stock hit a 52-week low in late October and has been bouncing back ever since.
Why Overstock.com, Inc. Stock Skyrocketed 41.7% in 2016
Overstock’s first big jump came in February, when shares soared 23% after an encouraging fourth-quarter 2015 report but not so much because of its actual headline numbers. For perspective, Q4 2015 revenue climbed just 2% year over year, to $480 million, while net income was $110,000, or breakeven on a per-share basis and down from $0.06 per share in the same year-ago period.
Here’s One Thing Macy’s CEO Doesn’t See Changing in Crumbling Retail Sector
Shopping on the internet will probably continue to disrupt legacy bricks-and mortar retailers for the foreseeable future, but one thing is likely to remain constant throughout. That is the need for salespeople in the store to convert what shoppers do show up to actual spenders.
These 3 Deals Show Just How Desperate Sears Holdings Is
Sears has time and again had to resort to one-time infusions of cash simply to keep the lights on at its Sears and Kmart stores. Image source: Sears Holdings.
Tiffany Gains as Wells Fargo Sees Improved Luxury Good Demand
Tiffany stock rose 1.70% to $81.92 in Friday’s trading session after Wells Fargo upgraded shares to “market perform” from “underperform” on signs of improving demand for luxury goods. The firm pointed to Richemont’s better-than-expected third-quarter sales , noting that the global luxury retail market appears to have bottomed in the first half of 2016.
Walmart C-Suite Takes Another Hit as Uphill Battle with Amazon Rages On
Walmart Stores will reportedly promote several executives from its recently acquired Jet.com e-commerce business, as it continues a push to bolster its e-commerce offerings and compete with Amazon.com . According to an internal memo first obtained by Bloomberg, Walmart’s e-commerce CEO, Jet’s Marc Lore , announced that Jet’s chief revenue officer, Scott Hilton, will become the chief revenue officer for all of Walmart’s e-commerce operations.
Despite gloom at big chains, retail industry has a solid holiday season
In recent weeks, gloomy news has abounded about how the retail industry held up during the crucial holiday season: Macy’s saw its sales sink 2.7 percent and announced it will slash 10,000 jobs . Chains such as Kohl’s, J.C. Penney, Sears and Barnes & Noble also reported sales declines.
Traditional Retailers Are Doing Even Worse Than You Think
It was a rough 2016 holiday season for brick-and-mortar retailers. Department store shares got thumped last week after Macy’s both lowered their full-year earnings guidance and said their comparable-stores sales dropped.
Barnes & Noble’s Recasting Won’t Change Its Downward Trend
Barnes & Noble , the nation’s largest bricks-and-mortar retail bookseller, is striving to recast itself into a digital media, content and educational product leader with a little alcohol on the side. Although the company has 638 physical bookstores in 50 states, it is emphasizing its e-commerce site, BN.com, as well as its Nook digital tablets and e-readers.
Marks & Spencer Expects Strong Christmas Revenues as Food, Clothing Sales Outperform
M&S said group sales rose 4.3% in its fiscal third quarter, but cautioned that uncertain consumer confidence would hit the company’s earnings in the next three month period. Marks & Spencer Group plc said Thursday that group sales rose 4.3% in its fiscal third quarter, but cautioned that uncertain consumer confidence would hit the company’s earnings.
Pro-Trump PAC tied to L.L. Bean heiress discloses donations
A pro-Trump PAC linked to L.L. Bean heiress Linda Bean is now reporting donations it never disclosed to the federal government last year. The amended filings by Making Maine Great Again say Bean donated $30,000, not $60,000 as the political action committee originally reported.
SAPVoice: Brooks Brothers Innovation Elevates Customer Experience
Every retailer is fighting to win customers. Competition comes from all places in all sizes and consumer loyalty is hard won.
Why Rite Aid, Ford, Merck Are Wednesday’s Most Active Movers
Put down the 10-K filings and the stock screeners. It’s time to take a break from the traditional methods of generating investment ideas.
Jack Ma Bets $2.6 Billion He Can Revamp China Retail Sector
Alibaba Group Holding Ltd. pioneered shopping on the internet in China. Now it thinks it can teach old-school retailers a thing or two about real-world commerce.
Good Luck With This One FTC: Craftsman Tries Becoming Competitor to Itself
The deal is unusual because Stanley will lease the brand back to Sears and two different versions of the Craftsman brand will compete against each other. Stanley Black & Decker ‘s plan to acquire the storied Craftsman tool brand from Sears Holdings for up to $900 million will force the Federal Trade Commission to grapple with some novel antitrust questions.
Why Home Depot Inc Gained Just 1% in 2016
The performance gap meant that the retailer was one of the worst stocks on the blue chip index in 2016. That weak outing came even as revenue, earnings, and profitability all set record highs and as Home Depot widened its market share lead over its biggest national competition, Lowe’s .
Diller’s Vimeo, Once Left for Dead, Enters Crowded TV Fray
When Barry Diller’s IAC/InterActiveCorp bought comedy website CollegeHumor in 2006, the deal included an asset the billionaire had little use for at the time: Vimeo. The video-sharing site, which predates YouTube, is now the fulcrum of Diller’s plan to join the crowded online-TV market.
Wal-Mart Names John Furner CEO Of Sam’s Club, Replacing Rosalind Brewer
Wal-Mart Stores Inc. said it has named John Furner as chief executive of its Sam’s Club unit, replacing Rosalind Brewer, who, is retiring effective Feb. 1. Furner is currently chief merchandising officer at Sam’s Club and has worked at the company since joining it as an hourly store assistant in 1993, the company said in a filing with the Securities and Exchange Commission.
Why Kohl’s, Gartner, and Constellation Brands Slumped Today
The stock market didn’t move much on Thursday, with major market benchmarks finishing the day mixed and with minimal changes from Wednesday’s close. The mood of the market was less positive than investors had seen in previous days, with various news items calling into question whether the upbeat attitude that market participants had had coming into 2017 will actually pan out with improved economic growth and corporate profits.