Archive for category: Eye-on-Retail

 

Costco November comp sales (ex-fuel & f/x): Total company +4.9% / US +4.3% / Canada +5.7% / Other Int’l +7.3% / Ecom -2.5% “E-commerce sales in November were negatively impacted by an estimated 15 percentage points, due to Thanksgiving / Black Friday / Cyber Monday occurring a week later this year versus last year. Total and comparable sales were negatively impacted by approximately one and one-half percent as a result of the shift in E-commerce sales.” Press release

 

Kroger Q3 identical sales without fuel +2.3% Press release

 

Five Below Q3 comp sales +0.6% Press release

 

…Five Below Names Winnie Park CEO “Ms. Park served as Chief Executive Officer of Forever 21 since January 2022…Prior to Forever 21, Ms. Park was the CEO of Paper Source…” Press release

 

Dollar General Q3: comp sales +1.3% / net sales +5.0% Press release

 

Dollar Tree, Inc. Q3 comp sales: Dollar Tree +1.8%; Family Dollar +1.9%; Enterprise +1.8% Press release

 

…CRAMER’S TAKE: “Dollar General reported a pretty good quarter. The stock was up. The company did say its core customer is financially constrained. Rival Dollar Tree delivered a strong quarter earlier this week, and several Wall Street analysts raised their prices targets on the company that also owns the Family Dollar chain.”

 

Chewy Q3 net sales +4.8% Press release

 

***A message from Sensi: Sensi named a “Best Smart Thermostat of 2024” by CNET noting its simple and intuitive display, which allows you to make changes easily. Website | Contact: info@eyeonretail.net

 

TODAY – Tractor Supply Company Rings the Opening Bell at Nasdaq

 

Shares of American Eagle drop as company issues weak holiday guidance at CNBC. “For its holiday quarter, American Eagle is expecting comparable sales to be up around 1%, with total sales down about 4%…The outlook is below the 2.2% comparable sales growth StreetAccount was looking for and the 1% sales decline LSEG had expected.” Read more

 

Build-A-Bear Workshop Q3 revenue +11.0% Press release

 

Jeff Bezos says he’s ‘putting a lot of time’ in at Amazon to help it become an AI winner at Yahoo. “Bezos said that 95% of his time at Amazon is spent focusing on AI within the company…My heart is in Amazon, my curiosity is in Amazon, and my fears are there and my love is there,” Bezos said. “I’m never going to forget about Amazon. I’ll always be there to help…” Read more

 

Target’s bid to toss shareholder lawsuit over Pride backlash rejected by judge at Reuters/NY Post

 

District of Columbia says Amazon secretly stopped fast deliveries to 2 predominantly Black ZIP codes at AP. “There have been specific and targeted acts against drivers delivering Amazon packages” in the two ZIP codes and the company made the change to “put the safety of delivery drivers first,” Amazon spokesperson Kelly Nantel said…” Read more

 

Amazon chipping in $10M in tips for customers who thank their delivery drivers during the holidays at GeekWire

 

Bezos: Incumbent on media to ‘persuade’ Trump press ‘not the enemy’ at The Hill. “You’ve probably grown in the last two years, he has too,” he told journalist Andrew Ross Sorkin during an interview. “Let’s go persuade him of this. I don’t think he’s going to see it the same way, but maybe I’ll be wrong.” Read more

 

***Advertise your product, service or event in Eye on Retail Tipsheet to get in front of the most powerful retail decision-makers in the world. Contact: jlong@eyeonretail.net

 

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 as a designer teapot. Now Target “is kind of like an old friend you kind of wander away from—an old friend who has become boring,” the retired executive said. He goes every few months.” WSJ subs.

 

Dick’s Sporting Goods Q3 comp sales up 4.2% Press release

 

…Dick’s Sporting Goods posts robust holiday guidance at CNBC. “…now expecting fiscal 2024 same-store sales to grow between 3.6% and 4.2%, up from a previous range of 2.5% to 3.5%. That’s ahead of the 3.4% growth that Wall Street analysts had expected, according to StreetAccount.” Read more

 

Walmart rolls back DEI under pressure at USA Today. “The retail giant said it would not renew a racial equity center it created following the 2020 murder of George Floyd and it would no longer participate in an annual benchmark index from LGBTQ+ advocacy group the Human Rights Campaign. Robby Starbuck said he warned Walmart last week he was working on a report about “wokeness.” According to Starbuck, the company then engaged in “productive conversations” to make changes.” Read more

 

Kohl’s Q3 comp sales down 9.3% Press release

 

…Kohl’s CEO will step down. He’ll be replaced by the head of Michaels at CNN. “Ashley Buchanan, the next Kohl’s CEO, has been CEO of Michaels since 2020 and was a senior executive at Walmart and Walmart-owned Sam’s Club for 13 years.” Read more

 

***Sensi named a “Best Smart Thermostat of 2024” by CNET. CNET recently named the Sensi Touch 2 to its list of “Best Smart Thermostats of 2024,” noting its simple and intuitive display, which allows you to make changes easily. Website | Contact: info@eyeonretail.net

 

Target Lost Its Mojo. Hits Like $25 Leggings Are Key to Getting It Back at Bloomberg. “The All in Motion-brand pants have amassed a cult following online since their debut last fall, helping Target’s athleisure business grow by double-digits for the last two quarters. But they so far haven’t been enough to jump-start overall revenue, which will require many more such hits.” Bloomberg subs. 

 

Macy’s says employee hid up to $154 million in delivery expenses, delaying Q3 earnings at AP

 

TikTok influencer arrested after allegedly flaunting shoplifted Target goods on video at NY Post. “Her TikTok page included a get-ready-with-me video from the day of the alleged shoplifting incident and showed her wearing the same outfit and glasses the suspect was wearing in the Target security footage, according to Fox 4 Now.” Read more

 

Walmart’s Mexican unit opens 2,500th store in Bodega Aurrera format at NWA Online

 

Trump says he will quickly impose tariffs of 25% on goods from Canada and Mexico at Politico

 

Kroger: Stuart Aitken is stepping down as SVP, chief merchandising and marketing officer. Mary Ellen Adcock, Kroger’s senior vice president of operations, will succeed him as chief merchandising and marketing officer. Press release

 

These Bricks-and-Mortar Stores Thrive in an Online World at WSJ. “Online shopping is at a record high. For a change, shopping center owners aren’t threatened. Americans bought $300 billion in retail goods online last quarter, with e-commerce accounting for 16.2% of all retail sales, according to data from the U.S. Census Bureau. That proportion is nearly back to peak levels in 2020, when many stores were closed and cash-flush Americans ordered Peloton bikes and sourdough starters from their couches.” WSJ subs. 

 

***Advertise your product, service or event in Eye on Retail Tipsheet to get in front of the most powerful retail decision-makers in the world. Contact: jlong@eyeonretail.net | 314-504-3026

 

 

 

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 after declines for 11 straight quarters.” Read more

 

Walmart keeps growing with shoppers making more than $100,000 a year at CNN

 

Lowe’s Q3 comp sales down 1.1% “Our results this quarter were modestly better-than-expected, even excluding storm-related activity, driven by high-single-digit positive comps in Pro, strong online sales and smaller-ticket outdoor DIY projects,” said Marvin R. Ellison, Lowe’s chairman, president and CEO.” Press release

 

…Lowe’s beats on earnings and hikes guidance, but still expects sales to fall this year at CNBC. “The company updated its full-year guidance…expects comparable sales to decline 3% to 3.5%, slightly better than the 3.5% to 4% drop that it had previously anticipated.” Read more

 

DoorDash’s app can now import your grocery list for faster shopping at TechCrunch

 

Shoppers Are Ditching Classic Brands They Once Loved at Bloomberg. “Customers are increasingly paying up for higher-end items or trading down to cheaper “private label” store brands… With new and improved entrants coming from both ends of the cost spectrum, products in between aren’t just losing out on price, they’re getting “outpremiumed,” too. “You’re seeing the middle disappear,” said RBC Capital Markets consumer analyst Nik Modi.” Bloomberg subs.

 

Seven & i founding family aims to raise $52 billion for buyout this year at Reuters. “Going private would allow it to continue under current management and remove pressure from shareholders to sell off more of its assets – as well as eliminate the threat from a bidder that it may see as hostile. A management buyout offer could also be a tactic to force Couche-Tard to bid more.” Read more

 

…Comfy Sacks – Our foam-filled bean bag chairs are long lasting, soft, and resist permanent compression. Our Sacks come in all sizes, from kids bean bag chairs to dog bed-sized Sacks to loungers big enough to replace your living room sofa. Website | Program details: info@eyeonretail.net

 

Perplexity introduces a shopping feature for Pro users in the US at TechCrunch

 

Walmart: Holiday Shopping Is Off to a Strong Start at WSJ. “Most shoppers are spending consistently to enjoy holidays, said John David Rainey, Walmart’s chief financial officer. Toys are selling well, along with some everyday needs such as tires, he said. Apparel is weaker as unseasonably warm weather has likely delayed some purchases, he said.” WSJ subs. 

 

Amazon Still Leads as Lowest-priced Retailer, Target Gains Ground at Profitero. “Amazon (had) an average price advantage of 14% over its rivals…Target (had) online prices just 13% higher than Amazon’s – vs 16% last year…Walmart continues as Amazon’s closest price competitor, with only a 5% price difference on identical items…” Press release

 

Walmart announces ‘Black Friday Deals’ and Cyber Monday events Press release

 

Guy Fieri and Sammy Hagar’s Santo Tequila Trucks Hijacked in ‘Double Heist.’ Now $1M Worth of Tequila Is Missing at People. “We’ve worked so hard,” says Fieri. “This is our best year we’ve ever had in Santo. We just had all this momentum, and now whatever’s on the shelf is all people are going to get.” Read more

 

Packaging firm Amcor to buy Berry for $8.43 billion at Reuters

 

Canada Post, union ‘far apart’ in strike talks just weeks before holidays at Toronto Star. “Harley Finkelstein, president of Shopify…said a strike two weeks before Black Friday “devastates” small businesses.” Read more

 

82% of shoppers have been exposed to some type of fraud this year at Fox Business

 

Grocery chains vie for a place on Thanksgiving tables with turkey dinner deals and store brands at AP. “Wells Fargo’s Agri-Food Institute…compared the costs of store brands and national name brands for a typical Thanksgiving dinner. The name-brand versions of cranberry sauce were less expensive than the store brands the team inventoried, while the name brand pumpkin pies versus store brand versions were the same price. Robin Wenzel, the head of the Wells Fargo institute, thinks the makers of some familiar brands realized they “overshot” with some of their post-pandemic price increases and are retrenching.” Read more

 

Consumer Edge Reports 4% Decrease in Overall U.S. Consumer Spending on Apparel, Accessories, and Footwear YTD “Resale platforms Depop and Grailed were among the top five performers in the overall apparel space…Men’s fashion brands, such as Buck Mason, are performing well…Brands focused on affordable luxury and sustainable basics, including Quince, AYR and Sezane, saw robust growth…” Press release

 

***Advertise your product, service or event in Eye on Retail Tipsheet to get in front of the most powerful retail decision-makers in the world. Contact: info@eyeonretail.net | 314-504-3026

 

 

 

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 were nearly flat when compared with the prior-year period, while the amount shoppers spent declined slightly to $88.65 per average ticket from $89.36 a year earlier.” Read more

 

China’s Singles’ Day wraps up super-sized sales event with volume, shopper growth at Reuters. “Alibaba Group, said it recorded “robust growth” in sales and a “record number” of shoppers…JD.com…reported a more than 20% year-over-year increase in shoppers over the event…Data provider Syntun estimated that sales across major e-commerce platforms rose 26.6% to 1.44 trillion yuan over the Singles Day event, which was 10 days longer than last year’s.” Read more

 

REI Names Former Sephora Exec as Marketing Boss to Revitalize the Outdoors Stalwart at WSJ. “REI Co-op named former Sephora executive Abigail Jacobs as its chief marketing officer as it looks to recover from a period of losses, layoffs and stalled sales. Jacobs fills a role that has been vacant since the departure last December of Vivienne Long.” WSJ subs.

 

On Q3 net sales up 32.3% “…fueled by significant acceleration in On’s direct-to-consumer channel, which grew 49.8% year-over-year…net sales through the wholesale sales channel increased by 23.2%.” Press release

 

Target Reveals Holiday Shopping Hours “…extended holiday shopping hours of 7 a.m. to midnight, from Nov. 30 to Dec. 23. For the fifth year, Target stores will be closed on Thanksgiving Day.” Press release

 

***Sensi Smart Thermostats can save you about 23% on HVAC energy costs. We don’t sell personal data to anyone, for any reason. 100+ years of HVAC experience. Beautiful design and easy DIY install. Website | Learn more: info@eyeonretail.net

 

Canadian Union of Postal Workers issues 72-hour strike notice at Toronto Star. “However, the union says its national executive board has yet to decide if a job action will happen at the deadline, saying that will depend on Canada Post’s actions at the bargaining table in the coming days. “After almost a year of bargaining, despite our best efforts, the parties remain far apart on many issues,” the union said in statement.” Read more

 

BJ’s Wholesale Club Names Scott Schmadeke, Executive Vice President, Chief Operations Officer Press release

 

Saks Fifth Avenue cancels famed holiday lights show in apparent cost-cutting measure at NY Post. “It appears the decision to cut the light show was only made within the past few weeks…With the light show now axed, this year’s holiday windows are set to instead display “outstanding pieces from the top names in luxury” alongside colorful snowflakes, silver harlequin flooring and dichroic vinyl…” Read more

 

Port of Montreal locks out dockworkers, adding to supply-chain woes at Financial Post. “The escalation of an ongoing labour dispute will disrupt Canada’s second-largest port…It has been operating far below its container-handling capacity since dockworkers at two terminals walked off the job on Oct. 31…On Canada’s west coast, a separate labour dispute is already disrupting an estimated $800 million of activity per day. British Columbia dock employers locked out workers on Nov. 4…” Read more

 

Amazon developing driver eyeglasses to shave seconds off deliveries, sources say at Reuters. “Amazon is developing smart eyeglasses for its delivery drivers to guide them to, around and within buildings…five people familiar with the matter said…The glasses would also free drivers from using handheld Global Positioning System devices, allowing them to carry more packages.” Read more

 

 7-Eleven, Inc. to expand deployment of Gulp Radio programming to 5,000 stores across the U.S. by the end of 2024 and more than 12,000 stores by the end of 2025 Press release

 

Walmart is testing a new way to make it easier to access locked-up items. at DNYUZ. “…new tech that lets employees use an app on their work device to unlock anti-shoplifting displays for customers…While the system is currently in several hundred of the company’s 4,600 US stores, Bloomberg, which first reported the move, indicated shoppers may eventually have access to the feature as well.” Read more

 

Shopify Q3 2024 Revenue Growth Accelerates to 26% at Yahoo Finance

 

***Advertise in Eye on Retail Tipsheet to get your product, service or event in front of the most powerful decision-makers in the retail community. Contact: info@eyeonretail.net or text/call: 314-504-3026