The largest increase since January, retail sales were largely driven by motor vehicle sales and spare parts, which rose by 3.6%. Electronics and appliance store sales were up by 1.6%. Healthcare and personal care stores saw an uptick in sales of 0.8% monthly and 3.4% year-over-year. Food and beverage sales were up 0.9% month-over-month and 2.9% on an annual basis.

Best Buy emerged as one of the standout stocks for the month, given its broad selection of consumer electronics, food, entertainment software, and home office products. Kimberly-Clark was a standout healthcare product provider, with its products being distributed to drugstores, grocery stores, wholesalers, and healthcare establishments. Shifting focus to foods and beverages, Pilgrim’s Pride was a standout performer with its range of prepared foods.

The post U.S. Retail Sales Rise in July appeared first on theprimarymarket.com.

Same-store sales are expected to rise by 3.41% compared to 6.30% last year. Despite a slowing pace, same-store sales continue to grow as groceries continue to be the main driver of revenue. “Keep in mind that Walmart sells mostly groceries and other household products, and it’s taking market share, so what it has been experiencing is going to be a bit different than what other retailers have been experiencing,” UBS analyst Michael Lasser stated. Foot traffic rose 2.82%, compared to 2.90% in 2023, while ticket growth came in at 1.27%, lower than the previous year’s 3.40% growth. Walmart’s e-commerce business grew by 2.10%, compared to 2.30% last year.

UBS expects Walmart to lift its full-year guidance as a result of its steady quarterly performance. Walmart’s shares have gained 27.5% for the year so far, almost doubling the S&P 500’s growth of 14%.

The post Walmart Set to Report Revenue Growth appeared first on theprimarymarket.com.

“We are now ready to consider opening our capital to third parties through a listing or other financial instruments,” Dolce explained, hinting at the possibility of stock listings. He added that growing the company’s U.S. base is crucial, given that Dolce&Gabbana’s 72 American stores rake in about 28% of its takeover, compared to 16% from its Chinese operations.

The fashion house’s CEO confirmed that his company’s financial trajectory remains positive following the confirmation of its 2023-2024 financial results. Dolce&Gabbana generated 1.871 billion euros, or $2.04 billion, for the period – a 17% rise from the previous year. Dolce added that he hopes for the company to continue on this growth trajectory going forward.

Dolce’s comments come after he revealed in May that the company would explore a possible future stock market listing, however, this move would not be guaranteed. Either way, it appears that tapping into the U.S. market is critical for the company’s future growth potential.

The post Dolce & Gabbana Seeking New Capital Investment appeared first on theprimarymarket.com.

Company CEO Brian Cornell has expressed confidence that the department store chain will embark on a positive growth trajectory “from a comparable sales standpoint, from a traffic standpoint, and from a [market] share standpoint.” He explained that Target will focus on opening new stores, introducing private-label brands, revamping existing stores, and unveiling a new membership program providing perks including faster delivery times.

Stifel analyst Mark Astrachan explained in a note to clients that the firm is optimistic about Target’s growth prospects. “We think F4Q results and guidance were better-than-feared. Guidance anticipates a sequential improvement through F2024. This is largely consistent with our expectations that discretionary spending intentions are improving, including amongst lower income households,” the note read.

The post Target Shares Jump as Earnings Exceed Expectation appeared first on theprimarymarket.com.

Despite the Federal Reserve’s continued tight fiscal policy in the face of stubborn inflation, consumer spending has remained high. The September report released by the Commerce Department showed that spending remained largely unaffected by a tightening credit environment and gas prices hitting 2023 highs as well as a revival in student loan repayments.

“While mounting headwinds to consumer incomes mean we expect spending growth to slow in the months ahead, the risks that spending contracts outright are fading,” Oxford Economics lead U.S. economist Michael Pearce observed of the current economic climate.

The post Retail Sales Beat Forecasts Amid Consumer Resilience appeared first on theprimarymarket.com.

“We continue to see consumer demand for our brands and for our products to be very, very strong,” CFO Matthew Friend confirmed to investors, affirming his belief that consumers will remain resilient. Furthermore, the company expects sales to rise during the upcoming holiday shopping season.

Nike shares rose by over 6% on Friday following the positive assessment. Barclays consumer discretionary senior analyst Adrienne Yih feels that while consumers may disregard certain brands when their spending power is limited, they will continue to show loyalty to their favorite brands. “their favorite brand they continue to spend at,” Yih observed, adding that “I think that’s what you’re seeing with the power of Nike being the No. 1 brand both domestically and globally.”

The post Nike Earnings Show Retailer’s Resilience Despite Consumer Slowdown appeared first on theprimarymarket.com.

Best Buy’s comparable sales declined by 6.2% over the course of the second quarter, narrowly outperforming analysts’ estimates of a 6.92% drop, IBES data from Refinitiv showed. Still, this decline was limited as deeper discounts mobilized American consumers to hunt for high-end products such as TVs and laptops due to appealing sales.

The company’s high promotional push comes in an effort to bring consumers back into the market as surging interest rates and a rise in the cost of living. This has largely plummeted the demand for non-essential products such as electronics.

The post Best Buy Stock Edges Higher After Smaller-Than-Expected Sales Drop appeared first on theprimarymarket.com.

“Losses from theft are at historical highs,” Nordstrom CEO Erik Nordstrom observed. “And I’d say we find it unacceptable and needs to be addressed.” Shares retreated by 1% on Friday following Nordstrom’s comments.

Still, Nordstrom reported net sales of $3.66 billion, beating estimates of $3.61 billion. Adjusted earnings per share were $0.84, outpacing forecasts of $0.44. Although same-store sales were down by 8.3%, this still beat expectations of a 10.34% decline.

The company reiterated its 2023 outlook; a drop in retail sales and credit card revenues between 4% and 6% with adjusted earnings between $1.80 and $2.20.

The post Nordstrom Stock Jumps After Earnings Beat Estimates appeared first on theprimarymarket.com.

For the quarter ended July 29, Kohl’s earned a profit of $58 million, or 52 cents per share. Last year, Q2 profit stood at $143 million, translating to $1.11 per share. Total revenue fell from $4.09 billion last year to $3.9 billion. This beat analysts’ expectations of 23 cents per share on revenue of $3.76 billion.

Due to the challenging economic climate, Kohl’s looked to reduce its inventory and its spending as sales dried up due to stubborn inflation and higher interest rates that have affected consumer prices. Compared to the previous year, inventory was reduced by 14%.

The post Kohl’s Beats Wall Street Earnings Forecast Despite Profit Decline appeared first on theprimarymarket.com.

Home Depot, Target, and Walmart all admitted that theft has become a major issue affecting their businesses following all three big box stores’ latest earnings calls. Target CEO Brian Cornell stated that his company is facing “an unacceptable amount of retail theft and organized retail crime.”

Inventory shrinkage, caused in part by theft, has had a significant effect on companies’ profit margins this year, with Home Depot CFO Richard McPhail citing this as the main factor for his company’s gross margin decline. Still, this is not a new issue, with the National Retail Federation’s (NRF) National Retail Security Survey finding that retail shrink was nearly $100 billion as of 2021; the most recent year that the data was collected.

The post Big Box Stores Hit By Surge in Theft appeared first on theprimarymarket.com.

The largest increase since January, retail sales were largely driven by motor vehicle sales and spare parts, which rose by 3.6%. Electronics and appliance store sales were up by 1.6%. Healthcare and personal care stores saw an uptick in sales of 0.8% monthly and 3.4% year-over-year. Food and beverage sales were up 0.9% month-over-month and 2.9% on an annual basis.

Best Buy emerged as one of the standout stocks for the month, given its broad selection of consumer electronics, food, entertainment software, and home office products. Kimberly-Clark was a standout healthcare product provider, with its products being distributed to drugstores, grocery stores, wholesalers, and healthcare establishments. Shifting focus to foods and beverages, Pilgrim’s Pride was a standout performer with its range of prepared foods.

The post U.S. Retail Sales Rise in July appeared first on theprimarymarket.com.

Same-store sales are expected to rise by 3.41% compared to 6.30% last year. Despite a slowing pace, same-store sales continue to grow as groceries continue to be the main driver of revenue. “Keep in mind that Walmart sells mostly groceries and other household products, and it’s taking market share, so what it has been experiencing is going to be a bit different than what other retailers have been experiencing,” UBS analyst Michael Lasser stated. Foot traffic rose 2.82%, compared to 2.90% in 2023, while ticket growth came in at 1.27%, lower than the previous year’s 3.40% growth. Walmart’s e-commerce business grew by 2.10%, compared to 2.30% last year.

UBS expects Walmart to lift its full-year guidance as a result of its steady quarterly performance. Walmart’s shares have gained 27.5% for the year so far, almost doubling the S&P 500’s growth of 14%.

The post Walmart Set to Report Revenue Growth appeared first on theprimarymarket.com.

“We are now ready to consider opening our capital to third parties through a listing or other financial instruments,” Dolce explained, hinting at the possibility of stock listings. He added that growing the company’s U.S. base is crucial, given that Dolce&Gabbana’s 72 American stores rake in about 28% of its takeover, compared to 16% from its Chinese operations.

The fashion house’s CEO confirmed that his company’s financial trajectory remains positive following the confirmation of its 2023-2024 financial results. Dolce&Gabbana generated 1.871 billion euros, or $2.04 billion, for the period – a 17% rise from the previous year. Dolce added that he hopes for the company to continue on this growth trajectory going forward.

Dolce’s comments come after he revealed in May that the company would explore a possible future stock market listing, however, this move would not be guaranteed. Either way, it appears that tapping into the U.S. market is critical for the company’s future growth potential.

The post Dolce & Gabbana Seeking New Capital Investment appeared first on theprimarymarket.com.

Company CEO Brian Cornell has expressed confidence that the department store chain will embark on a positive growth trajectory “from a comparable sales standpoint, from a traffic standpoint, and from a [market] share standpoint.” He explained that Target will focus on opening new stores, introducing private-label brands, revamping existing stores, and unveiling a new membership program providing perks including faster delivery times.

Stifel analyst Mark Astrachan explained in a note to clients that the firm is optimistic about Target’s growth prospects. “We think F4Q results and guidance were better-than-feared. Guidance anticipates a sequential improvement through F2024. This is largely consistent with our expectations that discretionary spending intentions are improving, including amongst lower income households,” the note read.

The post Target Shares Jump as Earnings Exceed Expectation appeared first on theprimarymarket.com.

Despite the Federal Reserve’s continued tight fiscal policy in the face of stubborn inflation, consumer spending has remained high. The September report released by the Commerce Department showed that spending remained largely unaffected by a tightening credit environment and gas prices hitting 2023 highs as well as a revival in student loan repayments.

“While mounting headwinds to consumer incomes mean we expect spending growth to slow in the months ahead, the risks that spending contracts outright are fading,” Oxford Economics lead U.S. economist Michael Pearce observed of the current economic climate.

The post Retail Sales Beat Forecasts Amid Consumer Resilience appeared first on theprimarymarket.com.

“We continue to see consumer demand for our brands and for our products to be very, very strong,” CFO Matthew Friend confirmed to investors, affirming his belief that consumers will remain resilient. Furthermore, the company expects sales to rise during the upcoming holiday shopping season.

Nike shares rose by over 6% on Friday following the positive assessment. Barclays consumer discretionary senior analyst Adrienne Yih feels that while consumers may disregard certain brands when their spending power is limited, they will continue to show loyalty to their favorite brands. “their favorite brand they continue to spend at,” Yih observed, adding that “I think that’s what you’re seeing with the power of Nike being the No. 1 brand both domestically and globally.”

The post Nike Earnings Show Retailer’s Resilience Despite Consumer Slowdown appeared first on theprimarymarket.com.

Best Buy’s comparable sales declined by 6.2% over the course of the second quarter, narrowly outperforming analysts’ estimates of a 6.92% drop, IBES data from Refinitiv showed. Still, this decline was limited as deeper discounts mobilized American consumers to hunt for high-end products such as TVs and laptops due to appealing sales.

The company’s high promotional push comes in an effort to bring consumers back into the market as surging interest rates and a rise in the cost of living. This has largely plummeted the demand for non-essential products such as electronics.

The post Best Buy Stock Edges Higher After Smaller-Than-Expected Sales Drop appeared first on theprimarymarket.com.

“Losses from theft are at historical highs,” Nordstrom CEO Erik Nordstrom observed. “And I’d say we find it unacceptable and needs to be addressed.” Shares retreated by 1% on Friday following Nordstrom’s comments.

Still, Nordstrom reported net sales of $3.66 billion, beating estimates of $3.61 billion. Adjusted earnings per share were $0.84, outpacing forecasts of $0.44. Although same-store sales were down by 8.3%, this still beat expectations of a 10.34% decline.

The company reiterated its 2023 outlook; a drop in retail sales and credit card revenues between 4% and 6% with adjusted earnings between $1.80 and $2.20.

The post Nordstrom Stock Jumps After Earnings Beat Estimates appeared first on theprimarymarket.com.

For the quarter ended July 29, Kohl’s earned a profit of $58 million, or 52 cents per share. Last year, Q2 profit stood at $143 million, translating to $1.11 per share. Total revenue fell from $4.09 billion last year to $3.9 billion. This beat analysts’ expectations of 23 cents per share on revenue of $3.76 billion.

Due to the challenging economic climate, Kohl’s looked to reduce its inventory and its spending as sales dried up due to stubborn inflation and higher interest rates that have affected consumer prices. Compared to the previous year, inventory was reduced by 14%.

The post Kohl’s Beats Wall Street Earnings Forecast Despite Profit Decline appeared first on theprimarymarket.com.

Home Depot, Target, and Walmart all admitted that theft has become a major issue affecting their businesses following all three big box stores’ latest earnings calls. Target CEO Brian Cornell stated that his company is facing “an unacceptable amount of retail theft and organized retail crime.”

Inventory shrinkage, caused in part by theft, has had a significant effect on companies’ profit margins this year, with Home Depot CFO Richard McPhail citing this as the main factor for his company’s gross margin decline. Still, this is not a new issue, with the National Retail Federation’s (NRF) National Retail Security Survey finding that retail shrink was nearly $100 billion as of 2021; the most recent year that the data was collected.

The post Big Box Stores Hit By Surge in Theft appeared first on theprimarymarket.com.