Tipsheet: D.Gen +4.0% | 7-11 Tank Explodes | WM Revamps Frozen
Dollar General Q4 comp sales +4.0% (vs. +2.6% estimate) Press release ...Reuters: Dollar General 2019 profit forecast falls short of estimates "The company said it expects fiscal 2019 earnings of $6.30 to $6.50 per share, below the average analyst estimate of $6.65..." Read more Stein Mart Q4 comp sales -3.5% Press release Walmart work underway to revamp frozen food perceptions by Kim Souza at Talk Business. "Laura Rush, VP & DMM over frozen foods at Walmart, spoke to more than 50 suppliers and business people Wednesday at the...WalStreet Fireside Chat breakfast. “Frozen is no longer taboo,” Rush [...]
Tipsheet: Amazon’s PhD’s | FDA Vape Rule | Ark. Approves Self-Driving
FDA outlines e-cigarette rules, tightens restrictions on fruity flavors to try to curb teen vaping at CNBC. "If finalized, the policy will likely remove some flavored e-cigarettes and cigars from store shelves, the FDA said. It also limits sales of flavored nicotine pods to websites, vape shops and other retailers that impose age restrictions, according to the FDA’s draft rule." Read more Arkansas Senate approves Walmart-backed proposal to test drive self-driving vehicles by Wesley Brown at Talk Business. "It will now be sent to the governor’s office, where Gov. Asa Hutchinson is expected to sign the law that [...]
Ruiz Retires | Dick’s -2.2% | Modell’s Restructure | Z-End?
Dick's Q4 comp sales (shifted) -2.2% "Ed Stack: “...(we) expect to return to positive comp sales beginning in the second quarter." Press release ...Dick's Sporting Goods falls sharply after giving a weak outlook for 2019 by Arjun Reddy at Business Insider. Read more Sporting-Goods Retailer Modell’s Hires Restructuring Adviser by Lillian Rizzo at Wall Street Journal. "The retailer, which has more than 150 stores in the Northeast, has hired Berkeley Research Group as its financial adviser to explore its next steps, the people said. Options on the table include a possible bankruptcy filing, two of the people [...]
Tipsheet: Costco $15 Min | Target Beats Victoria | B.Lots +3.1%
Costco Q2 comp sales +5.4% (not adjusted) "Net sales for the quarter increased 7.3 percent, to $34.63 billion from $32.28 billion last year...February comp sales +3.5%" Press release ...Costco beats profit estimates and boosts minimum wage in the US and Canada at CNBC. "Costco said it will raise its starting wages to $15 and $15.50 per hour, from $14 and $14.50 per hour in the United States and Canada." Read more Big Lots Q4 comp sales +3.1% (vs. expected +1.1%) at MarketWatch. Read more Nordstrom tech execs leaving by Nat Levy at GeekWire. "In the memo, [...]
Tipsheet: Wegmans #1 Rep | Foran Shares | Kroger +1.8%
Kroger Q4 comp sales +1.8% (ex-fuel) "Grew digital sales 58%, expanded Pickup or Delivery to reach 91% of Kroger households." Press release ...Kroger shares plunge 10% after earnings, revenue miss at CNBC. "Looking to fiscal 2019, the grocer is targeting same-store sales sales growth, excluding fuel, of between 2 and 2.25 percent." Read more Burlington Q4 comp sales +1.3% Press release Charlotte Russe will close all of its stores and start liquidation by Kelly Tyko at USA Today. "The company, which also controls Peek children's clothing stores, caters its items toward women's fashion and has more [...]
Tipsheet: F.Dollar Shutter 400 | WM New Fashion DC | Exec Women Like JCP
Dollar Tree Enterprise Q4 comp sales +2.4% (Dollar Tree +3.2%, Family Dollar +1.4%) Press release ...Family Dollar will close nearly 400 stores at CNN Money. Read more Ross Stores Q4 comp sales +4% Press release FreshDirect is extending its service into more parts of Connecticut and expanding its reach in the Washington, D.C. Metro Area "Additionally, FreshDirect is now offering a same day delivery service enabling customers to place a FreshDirect order before 10am and receive it later that evening." Press release United Natural Foods Q2 legacy sales +5.8% Press release Bentonville home for [...]
Tipsheet: Target/Kohl’s Beat | Sam’s New Scan & Go | FDA Rips Retailers
Target Q4 Comp Sales +5.3% "Comparable store sales grew 2.9 percent, and comparable digital sales grew 31 percent...Full-year comparable sales grew 5.0 percent — Target's strongest performance since 2005." Press release ...Target shares surge as company beats Wall Street estimates at CNBC. Earnings per share, adjusted: $1.53 vs. $1.52 expected Revenue: $22.98 billion vs. $22.96 billion expected Same-store sales: up 5.3 percent vs. growth of 5.1 percent expected Read more Kohl's Q4 Comp Sales +1.0% "The Company will close four underperforming stores in April, but will open four new smaller format stores later in the year. It [...]
Tipsheet: O.Depot/Alibaba Team | LA Retail Hour Ordinance
Office Depot and Alibaba team up to tap small and medium businesses at Reuters. "Office Depot’s customers will get access to Alibaba’s global network of over 150,000 suppliers to find more product options or a reputed manufacturer to produce their goods." Read more Children’s Place to buy Gymboree brand, while Gap snags Janie and Jack chain at CNBC. Read more Target CEO: $7 billion investment in stores and technology is paying off by Jackie Crosby at Minneapolis Star Tribune. "Heading into Tuesday’s (investor) meeting, Cornell is quick to temper expectations that the multiyear effort is on the [...]
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