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.

While Target’s earnings fell short of company expectations, big box rival Walmart reported a strong quarterly performance, growing both in-store and online sales and lifting its full-year guidance as a result.

“Historically, our value proposition has been known for everyday low prices and for providing that value for customers,” Walmart CFO John David Rainey explained. “And what we see right now is that convenience resonates just as much to our customer base. And if you’re a household that makes over $100,000 a year, you value convenience just as much as the next person.”

The post Mixed Signals Delivered From Retail Sector Following Earnings Week appeared first on theprimarymarket.com.

“The US inflation picture is moderating some,” Moeller explained following the company’s earnings report released on Friday morning. He did, however, caution that European resolute inflation could limit the retail giant’s earnings.

Net sales for the second quarter were $20.6 billion, beating the Wall Street consensus estimate of $20.06 billion. Organic sales growth for the period was 8%, outpacing the 5.97% forecast.

Gross profit margins for the quarter were 48.4%, exceeding the 44.6% posted a year ago.

Following the release of its latest earnings figures, P&G released its full-year profit outlook in the range of $6.25 to $6.43 per share. Wall Street estimates stand at $6.38 per share.

The post P&G CEO Expects Cooling Inflation to Push Profits Further Following Strong Q2 Results appeared first on theprimarymarket.com.

A representative of Anheuser-Busch explained in a statement that the company will be restructured in a way to “simplify and reduce layers within its organization.” The layoffs will occur on the corporate side of the business, not affecting the jobs of “brewery and warehouse staff, drivers, and field sales, among others.”

The spokesperson explained that the layoffs would affect less than 2% of the company’s staff, adding that Anheuser-Busch employs over 19,000 employees across the United States. The 2% figure would account for around 380 positions.

CEO Brendan Whitworth claimed that the layoffs are a necessary step to maintain the health of the company, insisting that Anheuser-Busch remains poised for long-term success.

The post Bud Light Maker to Layoff Workers After Beer Loses Market Top Spot appeared first on theprimarymarket.com.

Net sales for the quarter were $22.3 billion, a 10.4% year-over-year rise. Wall Street estimates stood at $21.68 billion. Organic sales grew +13% year over year, outpacing estimates of 9.75%, while core earnings per share hit $2.09, compared to estimates for $1.96.

Our strong performance and the progress we are making on our strategic priorities gives us confidence that investments we are making to become an even faster and stronger and even better organization by winning with Pepsico Plus are working,” PepsiCo CEO Ramon Laguarta remarked.

As PepsiCo has done historically, the company hiked its full-year outlook at a time when sales figures were on the rise. This suggests that the company is highly confident that rising sales will continue to be realized.

The post PepsiCo Boosts Profit Forecast Amid Rising Q2 Sales appeared first on theprimarymarket.com.

“LG Electronics will transform its business portfolio… increase profits by growing in business-to-business, and transition to a service business,” CEO William Cho stated in a press conference.

In order to achieve its sales goal, LG will look to expand its vehicle components business by more than doubling its revenue to 20 trillion won by 2030. The company is also determined to strengthen its home appliance and TV service platforms by adding more media subscriptions and rentals.

Other growth routes that the company is considering are joint ventures, mergers, and acquisitions.

This announcement comes after LG announced last Friday that it expects a second-quarter operating profit 892.7 billion won; up 12.7% from the previous year. This would be the second-highest Q2 profit that the company has ever recorded.

The post LG Sets $77 Billion Sales Target for 2030 appeared first on theprimarymarket.com.

H&M shares rose by 6% as analysts forecasted a rise in sales for the Swedish fashion house over the third quarter. This comes after sales remained flat for the months of March through May.

Bank of America stated that H&M’s sold-out collaboration with luxury brand Mugler is expected to boost the company’s half-year earnings, which are set to be announced on June 29.

Online fashion retailer ASOS has returned to profitability following its decision to cut its inventory by 15% since the start of the year. With consumers returning to physical stores following the pandemic, ASOS decided to remove unfavorable products from its website.

“Our experience in the current trading environment is that when we create a product that really resonates with our customers and is priced correctly, full-price sales are very strong,” ASOS claimed.

The post Fashion Retailers Remain Resilient Despite Demand Slump appeared first on theprimarymarket.com.

Net profit for the first quarter was 1.2 billion euros ($1.24 billion), a 54% rise from the previous year. Beating analysts’ expectations of a 980 million euros net profit, this gain was driven by a 16% sales boom for the company’s spring-summer collection.

By beating analysts’ expectations, the Spanish fashion house proved its resilience in an increasingly challenging economic environment, especially amid cost pressures such as a 20% rise in the average wage of store workers in Spain. Inditex’s reported 7.56 billion euros in sales fell in line with analysts’ expectations despite the sales of its profitable Russian division in 2022.

Inditex also proved to be a stronger performer than its rivals, particularly as H&M struggled to manage the cost of living crisis. Inditex’s online and in-store sales rose 13% to 7.6 billion euros for the quarter.

Part of Inditex’s pricing strategy has been to maintain higher prices for items sold outside of the eurozone. In markets such as the United States, Mexico, and Saudi Arabia, its brands’ prices can be up to 91% more costly than in its home market.

The post Zara Owner Inditex Beats Q1 Profit Forecast Following Sales Boom appeared first on theprimarymarket.com.

The department store company is now expecting its full-year sales to be between $22.8 billion and $23.2 billion, reduced from its previous annual forecast in the range of $23.7 billion to $24.2 billion. Adjusted full-year profit is expected to be between $2.70 and $3.20 per share, compared to its previous forecast of $3.67 to $4.11 per share.

Having already ramped up its discounts as consumers remain affected by heavy inflation, Macy’s revealed that it will need to increase its discounts further in the second quarter in order to clear out its spring and summer inventories as consumer spending continued to dwindle. This contrasts the company’s intention last quarter to reduce its promotional activities.

With food prices and rentals continuing to rise, customers are now viewing high-end products that are offered by the likes of Macy’s as lower down on their lists of priorities.

The post Macy’s Shares Fall After Annual Forecast Cut appeared first on theprimarymarket.com.

The company reported a first quarter gross profit margin of 61%; a 570 basis point rise from a year ago. Its inventory decreased by 20% to $448 million during the first quarter compared to a year ago.

Previously expecting a growth range of 1% to 3%, Abercrombie now expects its 2023 net sales to rise between 2% and 4%. This forecast contrasts those of other retailers such as Kohl’s, who have maintained their previous annual sales forecasts after releasing their earnings for the first quarter.

For the quarter that ended April 29, the company’s net sales rose by about 3% to $836 million. This outpaces an estimated $814.5 million that analysts expected on average. The flagship Abercrombie brand saw a 14% rise in sales over the first quarter while the Hollister brand incurred a 7% decline.

The post Abercrombie & Fitch Shares Surge After Company Raises Sales Outlook 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.

While Target’s earnings fell short of company expectations, big box rival Walmart reported a strong quarterly performance, growing both in-store and online sales and lifting its full-year guidance as a result.

“Historically, our value proposition has been known for everyday low prices and for providing that value for customers,” Walmart CFO John David Rainey explained. “And what we see right now is that convenience resonates just as much to our customer base. And if you’re a household that makes over $100,000 a year, you value convenience just as much as the next person.”

The post Mixed Signals Delivered From Retail Sector Following Earnings Week appeared first on theprimarymarket.com.

“The US inflation picture is moderating some,” Moeller explained following the company’s earnings report released on Friday morning. He did, however, caution that European resolute inflation could limit the retail giant’s earnings.

Net sales for the second quarter were $20.6 billion, beating the Wall Street consensus estimate of $20.06 billion. Organic sales growth for the period was 8%, outpacing the 5.97% forecast.

Gross profit margins for the quarter were 48.4%, exceeding the 44.6% posted a year ago.

Following the release of its latest earnings figures, P&G released its full-year profit outlook in the range of $6.25 to $6.43 per share. Wall Street estimates stand at $6.38 per share.

The post P&G CEO Expects Cooling Inflation to Push Profits Further Following Strong Q2 Results appeared first on theprimarymarket.com.

A representative of Anheuser-Busch explained in a statement that the company will be restructured in a way to “simplify and reduce layers within its organization.” The layoffs will occur on the corporate side of the business, not affecting the jobs of “brewery and warehouse staff, drivers, and field sales, among others.”

The spokesperson explained that the layoffs would affect less than 2% of the company’s staff, adding that Anheuser-Busch employs over 19,000 employees across the United States. The 2% figure would account for around 380 positions.

CEO Brendan Whitworth claimed that the layoffs are a necessary step to maintain the health of the company, insisting that Anheuser-Busch remains poised for long-term success.

The post Bud Light Maker to Layoff Workers After Beer Loses Market Top Spot appeared first on theprimarymarket.com.

Net sales for the quarter were $22.3 billion, a 10.4% year-over-year rise. Wall Street estimates stood at $21.68 billion. Organic sales grew +13% year over year, outpacing estimates of 9.75%, while core earnings per share hit $2.09, compared to estimates for $1.96.

Our strong performance and the progress we are making on our strategic priorities gives us confidence that investments we are making to become an even faster and stronger and even better organization by winning with Pepsico Plus are working,” PepsiCo CEO Ramon Laguarta remarked.

As PepsiCo has done historically, the company hiked its full-year outlook at a time when sales figures were on the rise. This suggests that the company is highly confident that rising sales will continue to be realized.

The post PepsiCo Boosts Profit Forecast Amid Rising Q2 Sales appeared first on theprimarymarket.com.

“LG Electronics will transform its business portfolio… increase profits by growing in business-to-business, and transition to a service business,” CEO William Cho stated in a press conference.

In order to achieve its sales goal, LG will look to expand its vehicle components business by more than doubling its revenue to 20 trillion won by 2030. The company is also determined to strengthen its home appliance and TV service platforms by adding more media subscriptions and rentals.

Other growth routes that the company is considering are joint ventures, mergers, and acquisitions.

This announcement comes after LG announced last Friday that it expects a second-quarter operating profit 892.7 billion won; up 12.7% from the previous year. This would be the second-highest Q2 profit that the company has ever recorded.

The post LG Sets $77 Billion Sales Target for 2030 appeared first on theprimarymarket.com.

H&M shares rose by 6% as analysts forecasted a rise in sales for the Swedish fashion house over the third quarter. This comes after sales remained flat for the months of March through May.

Bank of America stated that H&M’s sold-out collaboration with luxury brand Mugler is expected to boost the company’s half-year earnings, which are set to be announced on June 29.

Online fashion retailer ASOS has returned to profitability following its decision to cut its inventory by 15% since the start of the year. With consumers returning to physical stores following the pandemic, ASOS decided to remove unfavorable products from its website.

“Our experience in the current trading environment is that when we create a product that really resonates with our customers and is priced correctly, full-price sales are very strong,” ASOS claimed.

The post Fashion Retailers Remain Resilient Despite Demand Slump appeared first on theprimarymarket.com.

Net profit for the first quarter was 1.2 billion euros ($1.24 billion), a 54% rise from the previous year. Beating analysts’ expectations of a 980 million euros net profit, this gain was driven by a 16% sales boom for the company’s spring-summer collection.

By beating analysts’ expectations, the Spanish fashion house proved its resilience in an increasingly challenging economic environment, especially amid cost pressures such as a 20% rise in the average wage of store workers in Spain. Inditex’s reported 7.56 billion euros in sales fell in line with analysts’ expectations despite the sales of its profitable Russian division in 2022.

Inditex also proved to be a stronger performer than its rivals, particularly as H&M struggled to manage the cost of living crisis. Inditex’s online and in-store sales rose 13% to 7.6 billion euros for the quarter.

Part of Inditex’s pricing strategy has been to maintain higher prices for items sold outside of the eurozone. In markets such as the United States, Mexico, and Saudi Arabia, its brands’ prices can be up to 91% more costly than in its home market.

The post Zara Owner Inditex Beats Q1 Profit Forecast Following Sales Boom appeared first on theprimarymarket.com.

The department store company is now expecting its full-year sales to be between $22.8 billion and $23.2 billion, reduced from its previous annual forecast in the range of $23.7 billion to $24.2 billion. Adjusted full-year profit is expected to be between $2.70 and $3.20 per share, compared to its previous forecast of $3.67 to $4.11 per share.

Having already ramped up its discounts as consumers remain affected by heavy inflation, Macy’s revealed that it will need to increase its discounts further in the second quarter in order to clear out its spring and summer inventories as consumer spending continued to dwindle. This contrasts the company’s intention last quarter to reduce its promotional activities.

With food prices and rentals continuing to rise, customers are now viewing high-end products that are offered by the likes of Macy’s as lower down on their lists of priorities.

The post Macy’s Shares Fall After Annual Forecast Cut appeared first on theprimarymarket.com.

The company reported a first quarter gross profit margin of 61%; a 570 basis point rise from a year ago. Its inventory decreased by 20% to $448 million during the first quarter compared to a year ago.

Previously expecting a growth range of 1% to 3%, Abercrombie now expects its 2023 net sales to rise between 2% and 4%. This forecast contrasts those of other retailers such as Kohl’s, who have maintained their previous annual sales forecasts after releasing their earnings for the first quarter.

For the quarter that ended April 29, the company’s net sales rose by about 3% to $836 million. This outpaces an estimated $814.5 million that analysts expected on average. The flagship Abercrombie brand saw a 14% rise in sales over the first quarter while the Hollister brand incurred a 7% decline.

The post Abercrombie & Fitch Shares Surge After Company Raises Sales Outlook appeared first on theprimarymarket.com.