retail
Fast fashion powerhouse Shein is in focus this morning following a report that it has confidentially filed for an initial public offering in London. The move could potentially value the retail firm at about $66 billion. Why is Shein opting for a London IPOAnonymous sources told CNBC today that Singapore-headquartered Shein is now confidentially attempting to list on the London Stock Exchange. It had previously submitted a confidential filing for the U.S. IPO as well in pursuit of expanding its global footprint. The retail firm, however, faced significant challenges including controversies in i...
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The Target stock price is up almost 2%, or $2.75, following a couple of significant news announcements from the company today and on last Friday. The TGT share price closed at $143.38 on Friday June 21, and was up to $146.69 in pre-market trading today on June 24 at the time of this article going to press. New Shopify partnershipToday, the retail super-chain announced that it would be partnering with multinational online commerce platform Shopify. Certain select Shopify products will now be available on Target Plus, the retailer’s third-party online marketplace, including some of Shopify’s bes...
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The GigaCloud Technology (NASDAQ: GCT) stock price has moved into a deep bear market in the past three months. It has crashed by over 35%, making it one of the worst-performing technology companies. Concerns about GigaCloud continuesGigaCloud Technology’s share price has crashed as investors weigh its rosy financial results against a recent short-seller report by Grizzly Research. In its report, which I covered here, Grizzly noted that the company was vastly overstating its metrics. For example, the report noted that third-party website metrics showed that GigaCloud’s site was seeing weak traf...
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Carmax Inc (NYSE: KMX) is being crushed by the likes of AutoNation Inc and Carvana Co, says Landon Swan – the cofounder of LikeFolio. Shares of the used vehicle retailer have lost about 20% over the past three months. Swan shares his view on Carmax stockCarmax reported $7.11 billion in revenue for its first financial quarter on Friday that missed Street estimates by some $50 million. At 97 cents a share, the New York listed firm took a material year-on-year hit to its quarterly EPS as well. Speaking with the Schwab Network, Landon Swan said today: We’re looking at lower lease volumes, which us...
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M Science published a cautious report against On Holding AG (NYSE: ONON) on Friday. Shares of the sneaker company are in the red at writing. On Holding stock does not currently pay a dividend either. Why is M Science cautious on On Holding stock?On Holding is facing a slow down in the second quarter in two of its largest markets: Europe and the United States, as per M Science. Earlier in June, the Swiss firm named Zendaya a brand partner for On Running and confirmed that the Spiderman lead has agreed to a multi-year collaboration with the sportswear company. But the related boost is proving to...
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Ocado (LON: OCDO) share price has been in a freefall after peaking at 2,910p in 2021. It has plunged to a low of 320p, as I have predictedseveral times. Its market cap has plummeted to more than £2.6 billion, down from over £13 billion. Ocado woes continueOcado Group has collapsed as investors remained concerned about its business and the rising competition in its core industries. Just early this month, the company was booted from the FTSE 100 index and was replaced by Darktrace, a firm that is being acquired by Thoma Bravo. And on Thursday, a major Canadian client announced that its deal with...
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Kroger Co (NYSE: KR) is trading up in premarket on Thursday after coming in ahead of Street estimates for its first financial quarter. Shares of the retail firm are still down some 10% versus their year-to-date high. Kroger offers positive outlookKroger stock is gaining this morning because the management issued good enough guidance for the future as well. KR now forecasts its adjusted per-share earnings to fall between $4.30 and $4.50. Experts had forecast $4.43 a share instead. Rodney McMullen – the chief executive of Kroger Inc said in a press release today: Kroger is off to a solid start i...
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China’s annual 618 mid-year e-commerce festival, a significant indicator of consumer spending in the world’s second-largest economy, experienced a decline in sales for the first time in eight years. This drop, reported by retail data provider Syntun, suggests that the recovery in consumer spending remains sluggish amid ongoing economic challenges. Sales drop for the first time since 2016The gross merchandise value (GMV) during the 618 festival fell by 7% compared to the previous year, totaling 742.8 billion yuan ($102.3 billion). This marks the first decline in sales since Syntun began trackin...
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Amazon.com Inc (NASDAQ: AMZN) just announced plans of investing €10 billion ($10.75 billion) in Germany to tap on increasing demand for cloud and logistic infrastructure. Shares of the tech titan are currently up well over 20% versus the start of 2024. Details of Amazon’s announced investment in GermanyAmazon Web Services will invest €8.8 billion to “continue to build, maintain, and operate its cloud infrastructure for AWS Europe” by 2026. The multinational has been committed to expanding its footprint in cloud infrastructure in Europe. Investment it announced today will create some 4,000 jobs...
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Chewy (NYSE: CHWY) stock price has had a tumultuous stay as a publicly traded company. Its stock surged from below $30 before the Covid-19 pandemic and reached a record high of $120 in 2021 as demand for e-commerce surged. Chewy’s business is improvingSince then, like other pandemic winners, the stock went on a deep sell-off, bottoming at $14.72 in May. Recently, the stock has rebounded by over 75% after the company published encouraging financial results. Chewy, the biggest company in the pet food industry, said that its quarterly revenue rose by 3.1% to $2.8 billion. Its gross margin rose sl...
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