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Moody's says large store base an asset for retailers

Sep. 15, 2016 1:59 PM ETWalmart Inc. (WMT) StockWMT, M, TGT, BBY, BBWI, SPLS, TJX, WBABy: Clark Schultz, SA News Editor7 Comments
  • A new report from Moody's makes the argument that brick-and-mortar retailers such as Wal-Mart (WMT +1.2%) and Best Buy (BBY +0.1%) are thriving due to their sheer physical size. The ratings agency doesn't believe mass store closing are in the future, but sees a continuing trend toward "repurposing" of the store fleets to evolve to the multi-channel world.
  • The pitch runs counter to the calls from some analysts for a mass reduction in square footage by major chains.
  • Moody's on WMT: "Walmart's recent acquisition of Jet.com, while not a threat to Amazon's position, provides Walmart a speed advantage in boosting online growth by leveraging Jet's ready-made platform."
  • Moody's on BBY:" Best Buy is an example of a retailer that continues to successfully transition online, with penetration approaching 20% of total sales."
  • The interesting take from Moody's is probably relevant to other larger retail chains such as Staples (SPLS +1.8%), Target (TGT +0.8%), Walgreen Boots Alliance (WBA +0.3%),  L Brands (LB +0.6%), Macy's (M +1%), and TJX Companies (TJX +0.8%) as well.
  • Moody's press release

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