Retail execs head down to Florida next week for the closely-watched ICR Conference.
The confab this year arrives at a tumultous time for the sector. A wave of soft holiday period sales reports have set a negative tone amid increasing worries over Trump administration trades policies and border adjustment taxes.
Bloomberg Intelligence analyst Chen Grazutis wants to hear what apparel retailers say about the impact of moving sourcing back to the U.S. On the positive side, some labor wage fear have subsided and inventory levels are better than they were a year ago.
It's unlikely that Q&A at ICR won't delve into Amazon (NASDAQ:AMZN) and the ongoing impact of e-commerce on volume and margins.
Chipotle's (NYSE:CMG) presentation will be one of the bigger events in the restaurant sector, although investors might need their hard hats on with guidance updates/warnings expected from many food chains. Also keep an eye on how restaurant management talks about local sourcing and the shift toward eating local, trends which could bode well for Sysco (NYSE:SYY) and US Foods (NYSE:USFD), tips Bloomberg Intelligence.
Vuzix Corporation (NASDAQ:VUZI) announced the sale of 2M shares of its common stock at an offering price of $7.25 per share. The gross proceeds from the offering will be $14.5M.
The Company intends to use the net proceeds from the offering for general corporate purposes, development and launch of its proprietary waveguide technology planned to hit the market in 2017 with the launch of its B3000 binocular waveguide, and for general working capital purposes.
"This financing will greatly strengthen Vuzix (VUZI)' balance sheet and help ensure that the Company has sufficient operating capital to execute on its business plans into 2018," explained Paul Travers, President and CEO of Vuzix Corp. "Vuzix looks forward to several important catalysts heading into CES; this capital infusion will significantly improve our execution capabilities in 2017 and improve our negotiating position in discussions with potential strategic partners and customers."
Sole placement agent - Chardan Capital Markets, LLC.
The offering is expected to close on Dec. 2, subject to satisfaction of customary closing conditions.