retail
Adidas (ETR: ADS) share price has outperformed Nike this year as the latter has continued to report weak financial results. It has soared by over 22% in 2024 while Nike has slumped by over 10%. Nike’s sell-off accelerated in extended hours after it published weak results and guidance. Nike slashes guidanceAdidas stock price was in the spotlight on Friday after Nike slashed its guidance after publishing weak financial results. Its direct-to-consumer revenue dropped by 8% to $5.1 billion while its overall figure fell by 2% to $12.6 billion. Nike warned that its business was softening and that it...
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Nike Inc (NYSE: NKE) is losing in extended hours on Thursday after coming in shy of Street estimates for its fourth financial quarter. Shares of the footwear giant are still down close to 15% versus the start of 2024. Notable figures in Nike Q4 earnings releaseEarned $1.5 billion versus the year-ago $1.03 billionPer-share earnings also improved from 66 cents to 99 centsAdjusted EPS printed at $1.01 as per the earnings reportRevenue inched down 2.0% year-over-year to $12.6 billionConsensus was 84 cents a share on $12.86 billion in revenueNike reported a 110 basis points increase in gross margin...
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Carvana Co (NYSE: CVNA) has roughly tripled this year but a JPMorgan analyst remains convinced it’s not out of room to run just yet. We come away from CVNA’s Rocklin, CA, IRC tour with higher conviction in our above consensus EBITDA. Carvana stock could climb to $150Rajat Gupta continues to rate CVNA at “overweight” and sees upside in its shares to $150 that translates to another 20% upside on their previous close. The analyst cited positive outlook and recent operational efficiencies for his positive view on Carvana stock in a research note on Thursday. More importantly, he expects efficiency...
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Chewy Inc (NYSE: CHWY) rallied about 20% this afternoon after Roaring Kitty (Keith Gill) posted a picture of a dog on X.com. Shares of the pet food and products retailer have now more than doubled versus their year-to-date low in late March. Chewy stock gains retail investors’ attentionThe equity market has been closely following updates from Roaring Kitty who inspired the historic short squeeze of 2021. His posts resulted in a massive increase in the GameStop stock price in recent months as well. Chewy shares became a target of the meme trade today after what was a rather quiet week for the r...
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Shares of H&M dropped by more than 14% on Thursday morning after the company reported a smaller-than-expected increase in second-quarter profits. The disappointing earnings report also raised concerns about the retailer’s June sales and its ability to meet full-year profit margin targets. Q2 profit falls short of expectationsH&M, the world’s second-largest retailer, announced an operating profit of 7.1 billion Swedish kroner ($672 million) for the March to May period. This figure fell short of the 7.37 billion Swedish kroner anticipated by analysts, according to a poll conducted by LSEG and ci...
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GameStop (NYSE: GME) stock price has retreated sharply in the past few weeks as the meme mania faded. After soaring to $65.20 in May, it has plunged by over 62% to the current $24.93, costing investors over $1 billion. The good and the uglyGameStop, a video game retailer, has become one of the luckiest companies in the United States. In 2021, it became the poster child of the meme stock mania, which helped it raise money by selling shares. The same trend happened in May this year as its stock surged from less than $10 to over $65. Again, the company used the surge to raise an additional $2.1 b...
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United States consumers are less confident on the current state of the economy, according to the latest Consumer Confidence Index reading, released by The Conference Board (CB) today. According to the CB, the Consumer Confidence Index fell to 100.4 in June, declining from 101.3 in May (revised downwards from an initial reading of 102.00). Confident in the present, anxious about the futureWhile Americans’ sentiment on the economic environment right now improved, they were more pessimistic on what would happen in the future. The CB data showed that its Present Situation Index (based on consumers...
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In an interview with Fortune last month, Costco CEO Ron Vachris highlighted that the core of Costco’s business model is not just the wide array of products on their shelves, but the membership cards that shoppers carry in their wallets. Costco’s thriving membership baseCostco’s membership has become a significant revenue generator for the company. With 130 million members paying between $60 and $120 annually, membership fees alone generated $4.6 billion in revenue last year. The company offers two tiers of membership: the Gold Star membership at $60 per year and the Executive Membership at $12...
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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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