Best Buy Q3 comp sales +1.7% "Best Buy is updating its full-year FY20 financial outlook to the following: Enterprise comparable sales growth of 1.0% to 2.0%, which compares to prior guidance of 0.7% to 1.7%." Press release   ...Best Buy shares surge after beating expectations and raising forecast ahead of the holidays at CNBC. "Reported vs. expected, based on a survey of analysts by Refinitiv: Earnings per share, adjusted: $1.13 vs. $1.03 expected. Revenue: $9.76 billion vs. $9.70 billion expected. Same-store sales growth: 1.7% vs. 1.3% expected." Read more   Dick's Q3 comp sales +6.0% "Edward Stack, Chairman and CEO:  [...]

  Gap Q3 comp sales -4.0%: Old Navy global -4.0% / Gap global -7.0% / Banana Republic global -3.0% Press release   BJ's Wholesale Club Q3 comp sales (excluding gas) +1.1% Press release   Walmart’s Jet to Cease Its New York City Fresh Grocery Business by Matthew Boyle at Bloomberg. "The retailer will close a warehouse in the Bronx it was using to prepare orders and also let some drivers go, resulting in the loss of between 200 and 300 jobs, according to a person familiar with the decision. Jet -- which will continue to sell dry groceries like cereal [...]

  Target Q3 comp sales +4.5% "Third quarter comparable digital channel sales grew 31 percent, on top of 49 percent last year. Same-day fulfillment services (Order Pick Up, Drive Up and Shipt) accounted for 80% of Target's digital comparable sales growth." Press release   ...Target shares surge after company crushes earnings and raises forecast at CNBC. "Earnings per share: $1.36, adjusted, vs. $1.19 expected. Revenue: $18.67 billion vs. $18.49 billion expected. Same-store sales: growth of 4.5% vs. up 3.6% expected." Read more   Lowe's Q3 comp sales +3.0% "...(will) close 34 underperforming stores in Canada (and) undertake a process to simplify [...]

  Home Depot Q3 comp sales +3.6% / US comp +3.8% Press release   ...Home Depot cuts 2019 forecast after sales miss, shares crater at CNBC. "Earnings per share: $2.53, adjusted, vs. $2.52 expected. Revenue: $27.22 billion vs. $27.53 billion expected. Same-store sales growth, global: 3.6% vs. 4.7% expected." Read more   Kohl's Q3 comp sales +0.4% "(Kohl's) now expects adjusted annual earnings per diluted share to be $4.75 to $4.95...compared to its prior guidance of $5.15 to $5.45." Press release   ...Kohl's cuts annual profit forecast after disappointing results; shares slump at Reuters. "...analysts on average had expected same-store [...]

  Tesla Supercharger catches fire at a Wawa store in New Jersey at CNBC. "In August 2019, Wawa announced plans to increase the number of stores that feature Tesla Supercharger stations from 16 to more than 30 locations by the end of 2020." Read more   Amazon adds new ‘Amazon Pharmacy’ branding to PillPack at CNBC. "Another signal of PillPack’s growing importance: The company’s CEO TJ Parker got a promotion over the summer after impressing high-ups with his pharmacy knowledge, three people familiar with the move told CNBC." Read more   Molson Coors Chases Young Adults—And Not Just With Beer [...]

  Walmart earnings beat estimates, shares rise on higher outlook ahead of holidays at CNBC.  "U.S. same-store sales: up 3.2% vs. growth of 3.1% expected...e-commerce sales were up 41%, thanks to “strong growth” in online grocery...average ticket in the U.S. grew 1.9% compared with a 1.8% increase a year ago. Transactions were up 1.3% in the latest quarter, slightly lower than growth of 1.6% this time last year." Read more   ...Sam's Club Q3 comp sales +0.6% / Ecom +32% Walmart earnings release   ...Walmart hires off-duty officers ahead of El Paso reopening at AP. "Walmart plans Thursday to reopen [...]

  Nike will stop selling its sneakers and apparel directly on Amazon’s website, ending a pilot program that began in 2017 at Fortune. "Nike reportedly struggled to control the Amazon marketplace. Third-party sellers whose listings were removed simply popped up under a different name. Plus, the official Nike products had fewer reviews, and therefore received worse positioning on the site." Read more   US consumer prices up 0.4% in October; gasoline prices surge at AP. "Excluding volatile energy and food prices, so-called core consumer inflation rose just 0.2% in October. Overall consumer prices rose 1.8% over the past year, just [...]

  Inside Walmart’s Corporate Culture Clash Over E-Commerce by Matthew Boyle at Bloomberg. "The digital divestments suggest that the online crew is losing the struggle, but the traditionalists have suffered as well. Walmart’s U.S. stores chief, Greg Foran, last month gave up one of the most powerful jobs in retail to run an airline in his native New Zealand. Foran, according to people who worked with him, had grown frustrated with the amount of time and money spent on things that didn’t matter to him, like Store No. 8, an internal incubation arm that promises to “transform the future of [...]