Best Buy Q3 comp sales down 2.9% Press release   Abercrombie expects a strong holiday quarter as growth run continues at CNBC. "Sales rose to $1.21 billion, up around 14% from $1.06 billion a year earlier....For the holiday shopping quarter, Abercrombie is expecting sales growth of 5% to 7%, ahead of the 4.8% growth that analysts had expected, according to LSEG." Read more   Target’s Slide From Cheap Chic to Dull Chore at WSJ. "Middleton remembers the excitement of the houseware collections at Target in decades past and the convenience of picking up contact-lens solution at the same time [...]

  BJ’s Wholesale Q3 comp club sales (ex-gas) +3.8% "Digitally enabled comparable sales growth was 30.0%...reaches milestone of 7.5 million members...effective January 1, 2025. The Club membership fee will increase by $5 to $60 a year. The Club+ membership fee will increase by $10 to $120 a year." Press release   Target’s recent trade imports data tells the real story behind massive earnings miss at CNBC. "...the trade data shows it still brought in way too much in dollar value. According to customs data aggregated by Panjiva, Walmart imported 25,000 shipments from May 31-Aug. 31, valued at $1.3 billion. During [...]

  Walmart Q3 comp sales (ex-fuel) +5.3% / Int'l net sales +12.4% / US Ecom +22%   ...Sam's Club comp sales (ex-fuel) +7% Walmart press release   Walmart hikes its outlook again as shoppers spend more outside the grocery aisles at CNBC. "The discounter now expects net sales will grow between 4.8% and 5.1% for the full year. That compares to its previous forecast for between 3.75% to 4.75% sales growth for the period...CFO John David Rainey said sales of general merchandise – outside of the grocery department – grew year over year for the second quarter in a row [...]

  Wholesale prices rose 0.2% in October, in line with expectations at CNBC. "...up one-tenth of a percentage point from September...On a 12-month basis, headline wholesale inflation was at 2.4%. Excluding food and energy, core PPI rose 0.3%, also one-tenth more than September and also matching expectations. The 12-month rate was at 3.1%." Read more   US weekly jobless claims fall; unemployment rolls shrink at Reuters. "Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 217,000 for the week ended Nov. 9... Economists polled by Reuters had forecast 223,000 claims for the latest week." Read more   [...]

  100 Most Powerful People in Business (Bezos #11, McMillon #18, Jassy #26, Tome #59) at Fortune List   Home Depot Q3 US comp sales down 1.2% "..reported sales of $40.2 billion for the third quarter of fiscal 2024, an increase of 6.6% from the third quarter of fiscal 2023. Comparable sales for the third quarter of fiscal 2024 decreased 1.3%..." Press release   ...Home Depot’s Q3 results top Wall Street estimates at AP. "...a marked improvement from the second quarter, when sales at stores open at least a year declined 3.3% and dropped 3.6% in the U.S. Third-quarter customer transactions [...]

  Costco October comp sales up 5.1% (US +4.1% / Canada +8.0% / Other Int'l +7.1% / Ecom +19.3%) Press release   TODAY - Family, friends and community members to gather at memorial service for Bernie Marcus at WSB-TV 2. "A funeral service will be held for Marcus at The Temple in midtown Atlanta on Thursday afternoon...Marcus particularly focused on improving the health of others. He helped fund health centers and hospitals in Atlanta from Piedmont Hospital’s Marcus Heart and Vascular Center to the Shepherd Center." Read more   Canada Goose Q2: Total revenue decreased 5% / DTC comp sales [...]

  Walmart, other US retailers import fewer Christmas goods ahead of tepid holiday season at Reuters. "Walmart...has slashed Christmas imports deeply, shipping at least 340,000 kilos of products described as "Christmas" goods into the U.S. in the 12 months ending Sept. 30...The retailer shipped in almost three times more product, at least 980,000 kilos, in the prior 12 months through Sept. 30, 2023, the import data shows. In the same 12 months of 2022, Walmart imported more than 1.9 million kilos..." Reuters subs.   Key ports on Canada’s West Coast, including its largest container port in Vancouver and the Port [...]