Stocks wobbled between gains and losses on Thursday morning after retailers suffered from a poor performance over the critical holiday-shopping season. The S&P 500 was down 0.03%, the Dow Jones Industrial Average fell 0.05%, and the Nasdaq climbed 0.2%.
Category: Retail
Is It the Magic of Trump or Just Investors Blinded by a Happy New Year? -ICYMI
Macy’s said Wednesday it will close 68 stores by early spring. Macy’s flagship store in Herald Square in New York City is pictured above circa 1895.
4 Things Costco’s CFO Wants Investors to Know
Instead of changing to meet the new reality, the warehouse club has doubled down on what makes it popular in the first place. The company has focused on its warehouses and offering value for its customers while remaining a destination shopping experience.
J.C. Penney Strikes Deal for Texas Headquarters
J.C. Penney Co. reached a deal to sell its Plano, Texas, headquarters and lease back part of it, reaping about $353 million for the retailer.
Better Buy: Costco Wholesale Corporation vs. Target
In a brutally competitive industry, they each stand out by generating over $2 billion of annual earnings and handling millions of transactions per year. There are major differences between these two companies that could make one a better buy over the other for long-term investors.
Why Sears Holdings Stock Plunged 27.9% in December
It was just the latest bad month for Sears, as the company’s turnaround efforts over the past decade have been consistently futile. Indeed, Sears Holdings stock has plunged from a peak near $200 in 2007 to single-digit territory.
Wal-Mart Stock History: How the Worlds Biggest Retailer Created So Much Wealth for Investors
Today, it generates almost $500 billion of sales through 11,500 locations and a large online presence. More than 260 million customers passed through Wal-Mart’s retailing doors last year.
ThreeSixty to Acquire Sharper Image From Iconix
Private equity-backed consumer products company ThreeSixty Group will pay $100 million for the quirky gift retailer in its second sale outside of Chapter 11. ThreeSixty Group on Friday said it had agreed to purchase the Sharper Image brand from Iconix Brand Group in the hopes that it can revamp the struggling gadget maker. The Irvine, Calif., consumer products company will pay $100 million in cash for the rights to the brand and related intellectual property assets of the specialty gifts retailer.
My ’15 Surprises for 2017′ List
It should come as no surprise that after pulling off U.S. political history’s greatest surprise ever, Donald Trump is the subject of — and catalyst for — the principal events that I’m putting on my annual “15 Surprises for the Coming Year” list. For those of you unfamiliar with this list, it’s my annual rundown of “possible improbables” that smart traders and investors should watch out for.
BP Buys Woolworths Australian Gas Stations for $1.3 Billion
BP Plc will pay A$1.785 billion for Woolworths Ltd.’s network of Australian gas stations in a deal that will cement the London-based oil company as one of the nation’s biggest fuel providers. The British energy company will acquire 527 fuel outlets that are currently supplied by rival Caltex Australia Ltd., as well as 16 development sites, according to a statement Wednesday from Sydney-based supermarket owner Woolworths.
2 Dividend Stocks That Are Too Unsafe
To sidestep that imminent sell-off, investors should be very choosy with their dividend plays next year. Dividend stocks with poor earnings growth, unsustainable payout ratios, or inconsistent dividend hikes should be avoided at all costs.
Sherwin-Williams Could Paint the Town
Year to date, shares of Sherwin-Williams are up 4.9%. In March, the company agreed to acquire fellow paintmaker Valspar .
Drugstore Chain Fred’s Deal Looks Promising, but Investors Should Be Cautious About the Stock
With the announcement last Tuesday of its acquisition of 865 Rite Aid stores, Fred’s has hit the national spotlight. If the purchase meets regulatory and other concerns, Fred’s would become the country’s third largest drugstore retailer.
Is a Costco Executive Membership Worth an Extra $55 a Year?
Taking the next step and spending $110, a full extra $55, on an Executive Membership seems like an added risk, but it may actually be a safer choice. That sounds counterintuitive, but the more expensive membership comes with a major perk that may actually make it a better deal than the cheaper $55 Gold Star offer.
Department Stores’ Post-Election Rally Is Over
Department store stocks jumped after U.S. election results came in on Nov. 8. Shares of companies like Macy’s saw advances of 20% or more in the weeks following President-elect Donald Trump’s victory, but prices have been pulling back once again in the last couple of weeks. The woes for the retail juggernauts of yesteryear continue, so the negative retracement isn’t a surprise.
Best Fashion Stocks of 2017
Clothing brands and the apparel industry can be a fickle place, with many of the most iconic apparel brands actually suffering among a changing consumer landscape. This list of clothing retail stocks breaks down the sector to try to find the best publicly traded fashion stocks.
U.S. Stocks Close Lower After Mixed Economic Data
U.S. stocks closed lower Thursday as third-quarter economic growth was revised upwards but durable goods orders declined. The Dow Jones Industrial Average closed down 23.08 points, or 0.1%, at 19,918.88, led lower by a 2.3% decline in Wal-Mart Stores Inc. shares.
Finish Line’s Apparel Trouble Is Not an Easy Fix, Analysts Say
Finish Line declined for the second straight day after reporting a net loss that was wider than analysts were expecting. Finish Line was downgraded by analysts at Canaccord Genuity, Wedbush and Piper Jaffray as the stock fell 14% over the past two sessions, after the sneaker and apparel retailer reported that weak accessory and apparel sales caused the company to miss Wall Street’s third quarter forecast.
Why Shares of The Finish Line Plunged Today
The company fell well short of analyst expectations, with major declines in apparel and accessory sales hurting its results. At 10:45 a.m., Finish Line stock was down about 11.5%.
Walgreens, Rite Aid shed 865 stores to close $9.4B deal
Walgreens and Rite Aid will sell 865 stores to rival retailer Fred’s for $950 million, possibly removing the final roadblock preventing the tie up between the nation’s largest and third-largest drugstore chains. Wall Street certainly saw it that way, sending shares of Rite Aid up nearly 6 percent before the opening bell Tuesday.
Amgen and Broadcom climb; Restoration Hardware falls
The company said Muhtar Kent will step down as CEO next year and will be replaced by Coke’s chief operating officer. The mining company said it will be bought by South Africa’s Sibanye Gold in a deal the companies valued at $2.2 billion.