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Jan. 20, 2015, 10:56 AM
- The Supreme Court passes on hearing a case over the level of swipe fees charged by banks to retailers.
- The cap on swipe fees will stand at $0.21-$0.24 following the high court decision.
- Intense lobbying from the financial services industry prompted the Fed to move off its original recommendation for a $0.12 cap.
- The National Retail Federation and other consumer groups have vowed to keep the fight going.
- Related stocks: V, MA, WMT, TGT, BBY, CVS, WBA, COST, HD, LOW, GPS, M.
Jan. 15, 2015, 12:45 PM
Jan. 15, 2015, 10:33 AM
- Target's exit from Canada has retail analysts re-evaluating the plans of a number of chains with operations in the region.
- The list below includes companies just entering Canada with a light store count and some well-established chains which have already been trimming.
- Specialty: Chico's FAS (NYSE:CHS), DSW (NYSE:DSW), Hennes & Mauritz (OTCPK:HMRZF), Jimmy Choo, TJX Companies (NYSE:TJX), Moncler, Aeropostale (NYSE:ARO), Versace, Nordstrom.
- Big-box: Best Buy (NYSE:BBY), Wal-Mart (NYSE:WMT), Staples (NASDAQ:SPLS), Sears Canada (NASDAQ:SHLD).
- Previously: Nervous feet for Nordstrom over Canada? (Jan. 15 2015)
- Previously: Full exit from Canada for Target (Jan. 15 2015)
Jan. 15, 2015, 9:16 AM
Jan. 15, 2015, 7:41 AM
- Shares of Best Buy (NYSE:BBY) slip in early trading as the company takes a "cautionary" stance on domestic sales trends outside of the holiday period which saw the introduction of high-profile products (mobile, 4K TVs).
- Enterprise comparable sales growth in the first half of FY16 is forecast to be flat to negative low-single digits.
- The company's operating income rate is expected to be down 30 bp to 50 bps over the same period.
- BBY -6.9% premarket to $37.15.
Jan. 15, 2015, 7:13 AM
- Best Buy (NYSE:BBY) reports domestic comparable-store sales increased 2.6% during the holiday period.
- Comparable online sales were up 13.4% vs. the +23.5% pace of a year ago.
- The international comp was down 3.6% for the two-month period.
- Demand in the electronics categories was previously reported to lag overall holiday sales.
- Previously: Holiday retail sales something of a revelation (Jan. 08 2015)
- BBY -2.4% premarket.
Jan. 14, 2015, 9:17 AM
- A slide in retail sales during December was impacted by weakness with the electronics stores (BBY, CONN, HGG) and building materials/garden equipment (HD, LOW) categories.
- The biggest drag on the index was the gasoline stations component (CASY, PTRY]]) which recorded a 6.5% M/M and 14.2% Y/Y decline in December.
- Good news for the restaurant sector (MCD, QSR, YUM, SONC, WEN) as sales were up 0.8% M/M and 8.2% Y/Y during the month.
Jan. 8, 2015, 8:18 PM
- Holiday retail sales rose 4.6% vs. expectations for a 3.8% lift, according to a read from ShopperTrak. The growth rate is the highest since 2005 for the period.
- The rush of positive reports from retailers on holiday sales comes off of some beaten-down expectations, notes Chain Store Age.
- Concerns on mall traffic, a West Coast port slowdown, and a frenzied level of promotions drove consensus estimates lower before some macroeconomic factors improved and $2 gas entered the scene.
- A cross-section of retailers that surprised on the upside includes Barnes & Noble, Pier 1 Imports, Walgreens, Urban Outfitters, and Sonic.
- What to watch: Costco (NASDAQ:COST) put up a 5% comp for December, putting some pressure on Wal-Mart (NYSE:WMT) and Target (NYSE:TGT) to show signs of late-quarter strength. Signs of weakness at dollar stores (DG, DLTR, FDO, FIVE) and electronics chains (HGG, CONN, BBY) are a concern. Retailers seen as on-trend for the holiday season include Foot Locker (NYSE:FL), Lululemon (NASDAQ:LULU), and Williams-Sonoma (NYSE:WSM).
- Related ETFs: XLY, XRT, VCR, RTH, RETL, IYK, FXD, IYC, FDIS, SCC, UCC, PMR, UGE, RCD, SZK
Jan. 6, 2015, 10:11 AM
Jan. 3, 2015, 7:51 PM
- The intense competition in retail over free shipping policies is expected to bring some pain to Q4 margins as big box and e-commerce firms scrap for market share, warn analysts.
- ComScore reports that free delivery on online purchases rose to 68% in 2014, up from 44% last year.
- Amazon (NASDAQ:AMZN): 2014 shipping costs were up 32% through Q3. That mark comes before a holiday season in which the company says it saved customers a mere $2B in shipping fees.
- Wal-Mart (NYSE:WMT): The Bentonville giant has already warned investors it will spend heavily on e-commerce and fulfillment center expansion as it eyes +30% growth in online sales. The company may have difficulty dialing back its free delivery policies, say industry insiders.
- Target (NYSE:TGT): Wolfe Research projects a 1% shift in Target sales to e-commerce cuts into the firm's profit margin by 5 bps.
- What to watch: Online sales rose 16% in Q3 vs. 4% for broad retail, a differential that is expected to have widened in Q4. Retailers with a sharp shift in mix to online could have trouble hitting consensus EPS estimates.
- Related stocks: BBY, DKS, CAB, SPLS, TJX, BIG.
- Related ETFs: XLP, XLY, VDC, XRT, VCR, RTH, RETL, FXG, IYK, FXD, IYC, FDIS, RHS, SCC, FSTA, UCC, PMR, UGE, RCD, PEZ, PSCD, SZK
Dec. 30, 2014, 11:47 AM
- Best Buy (BBY +0.2%) and Staples (SPLS +0.3%) are increasing their reliance on "creative" sub-leases in order to trim square footage costs, according to ICSC.
- The trend in retail towards downsizing is expected to become even more pronounced in 2015.
- Sears Holdings (SHLD -1.9%) shifted into a real estate management mode over a year ago, aided by prominent deals with Dick's Sporting Goods and Whole Foods Market.
Dec. 23, 2014, 2:59 PM
- The strong reads on consumer spending (ICSC, Redbook) bode well for Q4 earnings in the retail sector, note analysts.
- Electronics sellers (BBY, HGG) and the luxury sector (RL, TIF, COH, KORS, KATE, FOSL, VRA) are viewed as being in a good position to see a December boost.
- Companies which eased off on pulling a bulk of their sales forward with Black Friday/Cyber Monday deals are also seen as potential winners with sub-$2 gas resetting some holiday budgets.
- Though e-commerce is expected to dazzle again this holiday season. It's not all fun and games for analysts looking at margins. The extension by Amazon (AMZN -0.1%) of its free shipping offer could be a signal that inventory levels are higher than anticipated and that the growth-at-all-costs mentality at the company is as entrenched as ever, notes Nasdaq Advisory Services.
- The S&P Retail ETF (NYSEARCA:XRT) has doubled up the return of the S&P 500 over the last 3 months, 10.8% vs. 5.1%.
- Previously: Retail trends to watch: Athleisure, P-E buyouts, and new online channels (Dec. 20 2014)
- Related ETFs: XLP, XLY, VDC,VCR, RTH, RETL, FXG, PBJ, IYK, PEJ, FXD, IYC, FDIS, RHS, SCC, FSTA, UCC, PMR, PSL, UGE, RCD, PEZ, PSCC, PSCD, SZK
Dec. 10, 2014, 8:21 AM
- Best Buy (NYSE:BBY) is advertising free two-day shipping on thousands of items, reports RetailDive.
- The move by the company is a reaction to the aggressive shipping promotions from Target and Amazon this holiday season.
- Analysts see a marginal mix benefit for FedEX (NYSE:FDX) and UPS (NYSE:UPS) from the increase in retailers pushing their free two-day shipping services.
Dec. 9, 2014, 8:36 AM
- Shares of Best Buy (NYSE:BBY) are lower in early trading as a crisis at Conn's casts a shadow over big box retail.
- Some retail analysts are calling the knee-jerk reaction a little overwrought considering Best Buy hasn't been as aggressive with its financing program.
- BBY -1.9% premarket vs. S&P 500 -0.7%. Shares of hhgregg (NYSE:HGG) haven't opened yet but could see some nervous trigger fingers also.
Dec. 4, 2014, 7:25 AM
- Best Buy (NYSE:BBY) plans to exit China after running into a number of challenges competing in the region.
- The company's Jiangsu Five Star Appliance unit will be sold to Zhejiang Jiayuan Real Estate Group for an undisclosed amount.
- Last year, Best Buy sold off its European business in a move that took some pressure off its bottom line.
Dec. 2, 2014, 1:05 PM
- A technical breakdown on the performance of retail e-commerce sites for Black Friday and Cyber Monday reveals some winners and losers.
- Sears (NASDAQ:SHLD), Costco (NASDAQ:COST), Office Depot (NASDAQ:ODP), REI, Saks and NewEgg drew high marks for using responsive web design to create a seamless mobile experience for users.
- Costco and Sears were also on a list of fastest sites - along with Barnes & Noble (NYSE:BKS), W.W. Grainger (NYSE:GWW), Williams-Sonoma (NYSE:WSM), and Hennes & Mauritz (OTCPK:HMRZF).
- The extended holiday was more uneven for Best Buy (NYSE:BBY), Staples (NASDAQ:SPLS), Cabela's (NYSE:CAB), and Forever 21 which had painful outages or slow performance times.
- J.C. Penney (NYSE:JCP) was reported to have had a temporary mobile glitch which caused a slowdown, but also ended up on a list of top website performers.
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