retail
Earlier today, Lowe’s Companies Inc. (NYSE:LOW) reported its Q1 2024 earnings, exceeding analysts’ expectations for both revenue and EPS. The company achieved a non-GAAP EPS of $3.67, which was $0.71 above the estimates. Revenue reached $21.4 billion, surpassing projections by $300 million despite a 4.3% year-over-year decline. Comparable sales for the quarter were down 4.1%, highlighting ongoing challenges in the DIY segment. However, gains in the Pro segment and online sales provided some offset. Importantly, Lowe’s reaffirmed its full-year outlook, anticipating total sales between $84 to $8...
Invezz
Today's youth have developed a habit of purchasing clothing items through fast fashion sites online, but their enthusiasm over their purchases is rarely lasting. The trend involves young people scrolling through Chinese fast fashion retailer Shein or TikTok Shop and regularly making big orders. The incentive to shop on fast fashion sites is attributed to the quick turnaround customers endure from ordering to receiving the items, plus the cheap costs of the clothes. What makes these young shoppers addicted to frequent purchases on Shein and TikTok Shop is the thrill of blackout shopping rather ...
IBTimes
Marks & Spencer’s (LON: MKS) share price will be in the spotlight next week as the company publishes its preliminary financial results. It has done well ahead of these results as it jumped to 276.9p, its highest swing since January 10th. Interim earnings aheadMarks & Spencer, the giant British retailer, will publish its interim result, providing more colour about its transformation. These results will show that UK retailers and the economy are doing well. A recent report revealed that the economy emerged from a recession in the first quarter. A separate figure showed that the country’s retail ...
Invezz
GameStop Corp (NYSE: GME) opened about 20% down on Friday after filing to sell additional shares in an at-the-market offering. How many shares does $GME plan on selling?The video gaming merchandise retailer plans on offering 45 million shares in total. What it plans on doing with the proceeds, however, remains unclear. $GME is opting for a stock sale shortly after a brief return of the meme stock craze that saw its shares trade at a high of about $65. But they crashed sharply after the short squeeze and are now trading at $22 and change. The massive gain in GameStop stock that lasted hardly fo...
Invezz
Kingfisher (LON: KGF) share price has continued its short squeeze this year as investors bet on its recovery. It surged to 270.5p this week, its highest level since March 2023. It has soared by over 36% from its lowest level in 2023. Kingfisher’s earnings aheadKingfisher has become one of the biggest retailers in the UK. While its name is not well-known, its brands like B&Q, Castorama, ScrewFix, and TradePoint are well-known in Europe. Most of its sales are in the UK, Ireland, and France. Unlike its peer brands like Home Depot and Lowe’s, Kingfisher’s business did not boom during the Covid-19 ...
Invezz
Costco Wholesale Corporation (NASDAQ: COST) is trading at an all-time high after Uber Eats teamed up with the retail behemoth on Thursday. Details of Costco-Uber partnershipUsers can now have groceries and other merchandise delivered from Costco via Uber Eats. Members of the wholesale club will get better pricing as well as a 20% discount on Uber One. $COST is now trading at a forward price-to-earnings multiple of nearly 50 which makes it even more expensive than Nvidia at 36 only. And that’s when the semiconductor behemoth is expected to roughly double its earnings over the next year while Co...
Invezz
New York (AFP) - Walmart reported higher profits Thursday behind solid gains at US stores as the retail giant pointed to increased purchases by wealthier shoppers and improving e-commerce sales. Profits more than tripled to $5.1 billion for the quarter ending April 30 on a six percent rise in revenues to $161.5 billion. Earnings in the 2023 period were dented by exceptional losses in equity investments. The results, which topped analyst estimates, lifted shares, which rose 6.3 percent in morning trading. The improved sales to wealthier shoppers reflect a focus on affordable pricing and conveni...
AFP
Walmart Inc (NYSE: WMT) announced plans of taking its data analytics platform global on Thursday. Shares of the retail behemoth are up 5.0% at writing. What is Walmart Luminate?Luminate was a result of a collaboration between Walmart and a third-party research firm called Dunnhumby in 2021. The data analytics platform is based out of Bentonville, Arkansas. According to $WMT: Mirroring the strategy used in the U.S., this will be a phased launch, starting with Shopper Behaviour followed by Channel Performance and Customer Perception. Note that Walmart Inc also reported its financial results for ...
Invezz
Discount home retailer Walmart Inc announced its Q1 earnings today before US markets opened. With the US economy embattled with stickier-than-expected inflation and interest rates still punishingly high for consumers, the market was eager to see what would come from today’s earnings. Walmart has a reputation for results outperforming when the US economy is in dire enough straits (lie in the 2008 financial crisis), but its also known to lose revenue on its big-ticket purchases when consumers tighten their belts. Read our analysis on the significance of today’s Walmart earnings here The financia...
Invezz
Tomorrow, Walmart Inc, one the largest US multinational retailers in the world, reports its earnings for the first quarter of its FY 2025. And they’re more important than you might think – even if you’re not a Walmart investor. Why are Walmart earnings important?What many people don’t know is that Walmart is often considered by analysts to be a bellwether stock for the average American household’s financial circumstance in the last quarter. Whether spending increased on big ticket items – or decreased instead – at stores as widespread as Walmart can be a valuable window into the health of the ...
Invezz
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