retail
Nike Inc (NYSE: NKE) has lost about 10% this year but a Deutsche Bank analyst is convinced the story moving forward will be a different one. Nike stock has upside to $115Krisztina Katai resumed coverage of Nike stock this morning with a “buy” rating. Her $115 price target suggests about a 22% upside from here. The Deutsche Bank analyst is bullish as the sports footwear and apparel firm has been devoted to innovation ahead of the Paris Olympics this year. Her research note reads: $NKE is at the onset of a multi-year innovation cycle that’s likely to deliver top-line growth ahead … with bigger s...
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Signet Jewelers Ltd (NYSE: SIG) is trading up in premarket on Thursday after reporting better-than-expected per-share earnings for its first quarter. Signet Jewelers offers encouraging guidanceThe stock is gaining also because the diamond jewelery chain issued upbeat guidance for the future. $SIG now forecasts its sales to fall between $6.66 billion and $7.02 billion on up to $11.52 a share of earnings in fiscal 2025. Analysts, in comparison, were at billion and $10.55 per share, respectively. Virginia C. Drosos – the chief executive of Signet Jewelers said in a press release today: Our result...
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GameStop Corp (NYSE: GME) is gaining at writing after short seller Citron Research said it has closed its entire position in the meme stock. Why did Citron close its short position in GameStop stock?Citron made the announcement this morning on X.com – confirming that the move has nothing to do with the video gaming merchandise retail’s fundamentals. It’s not because we believe in a turnaround for the company fundamentals will ever happen, but with $4 billion in the bank, they have enough runway to appease their cult-like shareholders. Citron closed its short position in $GME at a profit, as pe...
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LVMH, Kering, and Pernod Ricard stocks retreated on Wednesday as investors braced for retaliation from China. Kering, the parent company of Gucci, plunged by over 1.1% while Pernod Ricard fell by 0.75%. LVMG shares retreated by 0.35%. Other European companies exposed to China like Remy Cointreau, Stellantis, Hermes, and L’Oreal also retreated sharply. This crash happened after the European Commission said that it would impose a 25% tariff on Chinese electric vehicles (EV). The commission argues that Chinese EV companies benefit from state support, which explains why they are significantly chea...
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The Tesco (LON: TSCO) share price has continued to fire on all cylinders this year as its performance remained steady. It has jumped by over 11% this year, outperforming other British retailers like Marks and Spencer (MKS) and Sainsbury (SBRY). Tesco’s business is doing wellTesco, the biggest British retailer is performing well as the country’s inflation retreated and wage growth continued growing. Economic data by the Office of National Statistics (ONS) showed that the country’s wages with bonuses rose by 5.9% in April, higher than the expected 5.7%. Excluding bonuses, the country’s wages jum...
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Famed investor Jim Cramer is all praise for Deckers Outdoor Corp (NYSE: DECK) that surpassed $1,000 per share for the first time after posting its quarterly earnings report on Friday. Cramer says HOKA is an incredible brandCramer agrees that HOKA is not comparable to Nike in terms of sales but said the footwear giant should still be “scared” of it. That’s because HOKA has incredible momentum and “the shoe business has historically been a momentum business”. The Mad Money host expressed confidence in the leadership of David Powers on CNBC’s “Squawk on the Street” today and said “no one can touc...
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Abercrombie & Fitch (NYSE: ANF) stock price has surged to a record high as investors wait for its first quarter earnings scheduled for May 29th. It soared to a high of $150, bringing the year-to-date gains to 70%. It has also jumped by over 553% in the past 12 months, making it the best retail stock in the US. Abercrombie & Fitch’s insiders are sellingAbercrombie & Fitch, a millennial-focused retailer, has done well because of its strong revenue and profitability growth. Its revenue jumped to $4.2 billion in the last financial year, a big increase from the $3.69 billion it made a year earlier....
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Walmart Inc (NYSE: WMT) is in the green at writing after announcing an end to its years-long agreement with Capital One Financial Corp (NYSE: COF). What does it mean for existing cardholders?$COF has been exclusively issuing Walmart Consumer Credit Cards since 2019. Last year, however, the retail behemoth accused it of being too slow in replacing lost cards and making transactions appear on cardholders’ accounts. While Walmart has now decided to part ways with Capital One, it does not immediately change things for existing cardholders, as per the press release on Friday. Cardholders can contin...
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Allbirds (NASDAQ: BIRD) stock price has become toxic and is now hovering near its all-time low. It has moved from a record high of $32.40 into an unwanted penny stock as investors worry about its future. Subsequently, its market cap has plunged to about $96 million, down from over $2 billion. Allbird’s future is in perilAllbirds, a once-popular ‘sustainable’ shoe company, has come under intense pressure in the past few years. Its attempts to expand in other areas like leggings, underwear, and puffer jackets have failed while its revenue has continued falling. Allbirds’s annual revenue rose fro...
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PDD Holdings (NASDAQ: PDD) stock price is doing well as investors cheer its strong performance. It has surged by over 130% in the past 12 months and by 620% in the past five years, giving it a market cap of over $200 billion. PDD faces substantial risksPDD Holdings, the parent company of Pinduoduo and Temu, has been one of the best-performing companies in the past few years. Its annual revenue has soared from over $4.3 billion in 2019 to over $34 billion in 2023. It has also moved from a net loss of over $1 billion in 2019 to a profit of more than $8.4 billion. In its recent report, the compan...
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