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

 

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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

 

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