Sam’s +6.7% | Dick’s 66% Premium | Cyberattack @ US Retail
Walmart Q1: US comp +4.5% / Sam’s Club (ex fuel) +6.7% / Walmart Int’l net sales +7.8% “Walmart US ecommerce growth +21% – Walmart US achieved eCommerce profitability in Q1 for the first time, marking a milestone for the company.” Press release
…Walmart CFO says price hikes from tariffs could start later this month at CNBC. “We’re wired for everyday low prices, but the magnitude of these increases is more than any retailer can absorb,” (CFO Rainey) said. “It’s more than any supplier can absorb. And so I’m concerned that consumer is going to start seeing higher prices. You’ll begin to see that, likely towards the tail end of this month, and then certainly much more in June.” Read more
Dick’s Sporting Goods to acquire Foot Locker for $2.4 billion in effort to corner Nike market at CNBC. “Foot Locker shareholders can receive either $24 in cash – a roughly 66% premium of Foot Locker’s average share price over the last 60-days – or 0.1168 shares of Dick’s stock…Dick’s said it expects to operate Foot Locker as a standalone business unit within its portfolio and maintain the company’s brands – Foot Locker Kids, WSS, Champs and atmos.” Read more
…Foot Locker, Inc Q1 comp sales down 2.4% / North America down 0.5% Press release
…Dick’s Sporting Goods Q1 comp sales up 4.5% Press release
Cybercrime spree that hobbled British retailers now aimed at U.S., Google says at NBC News. “U.S.-based retailers are aware of the threats posted by cybercriminal groups that have recently attacked several major retailers in the United Kingdom, and many companies have taken steps to harden themselves against these criminal groups’ tactics over the past two years,” Christian Beckner, the NRF’s vice president of retail technology and cybersecurity, told NBC News in a statement.” Read more
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Boot Barn Holdings Inc. Q4 comp sales up 6% Press release
Walmart Is Preparing to Welcome Its Next Customer: The AI Shopping Agent at WSJ. “At some point in the future, shoppers will deploy an agent, like OpenAI’s Operator, and tell it they want to restock on groceries or buy a new flat-screen TV. Operator will then scan the internet and surface relevant products based on what it knows about the user’s preferences. Ultimately, agents will even be able to complete the purchase, including payment.” WSJ subs.
Dollar Tree Surpasses 9,000 Stores Across North America Press release
The Hottest New Look Is Used at Bloomberg. “ThriftCon, which has exploded into the largest traveling marketplace for preloved fashion in the US, drew 40,000 attendees to its various events in 2024 and expects to double that this year as prices for new apparel rise because of inflation and President Donald Trump’s tariffs. In 2025 organizers are expanding to include 10 pop-up markets in exhibition halls and concert venues across the US, plus a debut in London.” Bloomberg subs.
Alibaba Group quarterly revenue up 7% Press release
US wholesale prices dropped 0.5% last month at AP. “Services prices fell 0.7%, the biggest drop in government records going back to 2009, on shrinking profit margins at wholesalers and retailers. Wholesale food prices fell 1%, and egg prices plunged 39%, though they are still up nearly 45% from a year ago because of bird flu.” Read more
Wayfair plans its next large-format retail store in Yonkers, New York, set to open in early 2027 Press release
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