retail Archives - theprimarymarket.com Mon, 13 Jan 2025 14:23:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Lululemon and Abercrombie & Fitch Raise Quarterly Forecasts Amid Strong Holiday Season https://theprimarymarket.com/lululemon-and-abercrombie-fitch-raise-quarterly-forecasts-amid-strong-holiday-season/ Mon, 13 Jan 2025 14:12:00 +0000 https://theprimarymarket.com/?p=6562 The strong holiday season prompted retailers Lululemon Athletica and Abercrombie & Fitch to raise their quarterly forecasts for the current quarter, albeit with different responses from investors. Lululemon previously projected sales between $3.48 billion and $3.51 billion and profit per share between $5.56 and $5.64. Now, the company expects to see growth between 11% and […]

The post Lululemon and Abercrombie & Fitch Raise Quarterly Forecasts Amid Strong Holiday Season appeared first on theprimarymarket.com.

]]>
The strong holiday season prompted retailers Lululemon Athletica and Abercrombie & Fitch to raise their quarterly forecasts for the current quarter, albeit with different responses from investors.

Lululemon previously projected sales between $3.48 billion and $3.51 billion and profit per share between $5.56 and $5.64. Now, the company expects to see growth between 11% and 12%, net revenue between $3.56 billion and $3.58 billion, and profit per share between $5.81 and $5.85.

Lululemon’s chief financial officer (CFO), Meghan Frank, said on Monday that shoppers responded “well” to the company’s holiday product offerings.

“During the holiday season, our guests responded well to our product offering, enabling us to increase our fourth quarter guidance,” Frank shared in a statement.

Abercrombie & Fitch is also more optimistic about its holiday quarter results. The company stated it projects sales growth between 7% and 8% after previously forecasting growth between 5% and 7%.

Investors responded favorably to Lululemon’s adjusted guidance, sending its stock up by 2.40% in premarket trading on Monday. The company’s shares previously closed at $395.47, being 3.25% up since the start of 2025.

Abercrombie & Fitch, on the other hand, didn’t give investors much confidence due to the overwhelming belief that the company has little room for growth. Its stock sank 9.89% in premarket trading compared to Friday’s close of $160.92 per share.

The post Lululemon and Abercrombie & Fitch Raise Quarterly Forecasts Amid Strong Holiday Season appeared first on theprimarymarket.com.

]]>
U.S. Retail Sales Rise in July https://theprimarymarket.com/u-s-retail-sales-rise-in-july/ Sat, 17 Aug 2024 21:45:00 +0000 https://theprimarymarket.com/?p=5873 Retail sales in the United States stabilized in July, thereby indicating positive economic health. Sales rose by 1% for the month, thereby reversing a 0.2% drop in June and significantly outpacing the 0.3% rise that economists expected. The largest increase since January, retail sales were largely driven by motor vehicle sales and spare parts, which […]

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

]]>
Retail sales in the United States stabilized in July, thereby indicating positive economic health. Sales rose by 1% for the month, thereby reversing a 0.2% drop in June and significantly outpacing the 0.3% rise that economists expected.

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.

]]>
JD.com Beats Profit Forecast https://theprimarymarket.com/jd-com-beats-profit-forecast/ Fri, 16 Aug 2024 06:21:00 +0000 https://theprimarymarket.com/?p=5857 Major Chinese online retailer JD.com posted a total revenue of 291.40 billion yuan ($40.71 billion) in the second quarter, a 1.2% rise. This narrowly fell short of estimates of 292.89 billion yuan. The company’s second-quarter net profit, however, skyrocketed by 73.7% to 9.36 yuan per share, vastly outpacing an expected 6.07 yuan expected by economists […]

The post JD.com Beats Profit Forecast appeared first on theprimarymarket.com.

]]>
Major Chinese online retailer JD.com posted a total revenue of 291.40 billion yuan ($40.71 billion) in the second quarter, a 1.2% rise. This narrowly fell short of estimates of 292.89 billion yuan. The company’s second-quarter net profit, however, skyrocketed by 73.7% to 9.36 yuan per share, vastly outpacing an expected 6.07 yuan expected by economists polled by LSEG data.

JD’s administrative costs for the quarter were reduced by 9.6% in the second quarter. The company focused heavily on providing shoppers with discounts and lower-priced products. This was also adopted as a strategy to combat rising competition, which has led to major price wars between e-commerce stores as they seek to sustain their post-pandemic recovery.

Jacob Cooke, CEO of e-commerce consultancy WPIC Marketing + Technologies, warned that JD should not fall into the trap of sacrificing quality products for low-cost options as a means of undercutting the competition. “JD.com should lean into its strengths rather than engaging in a race to the bottom of excessive discounts,” Cooke maintained. Since adopting its low-cost strategy near the end of 2022, JD’s share prices have tanked from $60 to $26.

The post JD.com Beats Profit Forecast appeared first on theprimarymarket.com.

]]>
Walmart Set to Report Revenue Growth https://theprimarymarket.com/walmart-set-to-report-revenue-growth/ Thu, 15 Aug 2024 09:23:00 +0000 https://theprimarymarket.com/?p=5849 Walmart is expected to post revenue growth for the second quarter according to Wall Street estimates. Analysts are expecting the U.S. retailer to report a quarterly revenue of $168.46 billion, a 4.23% rise. Last year’s revenue was $161.63 billion. Adjusted earnings per share is expected to clock in at $0.65 compared to $0.61 in 2023. […]

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

]]>
Walmart is expected to post revenue growth for the second quarter according to Wall Street estimates. Analysts are expecting the U.S. retailer to report a quarterly revenue of $168.46 billion, a 4.23% rise. Last year’s revenue was $161.63 billion. Adjusted earnings per share is expected to clock in at $0.65 compared to $0.61 in 2023.

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.

]]>
Dolce & Gabbana Seeking New Capital Investment https://theprimarymarket.com/dolce-gabbana-seeking-new-capital-investment/ Mon, 22 Jul 2024 09:09:00 +0000 https://theprimarymarket.com/?p=5616 Dolce & Gabbana CEO Alfonso Dolce confirmed that the fashion house is open to seeking new investors as a means of raising capital. This comes as the company looks to open 12 new stores in the U.S., including at 695 Madison Avenue in New York, the former home of the five-store Hermes store. “We are […]

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

]]>
Dolce & Gabbana CEO Alfonso Dolce confirmed that the fashion house is open to seeking new investors as a means of raising capital. This comes as the company looks to open 12 new stores in the U.S., including at 695 Madison Avenue in New York, the former home of the five-store Hermes store.

“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.

]]>
Target Shares Jump as Earnings Exceed Expectation https://theprimarymarket.com/target-shares-jump-as-earnings-exceed-expectation/ Tue, 05 Mar 2024 13:55:00 +0000 https://theprimarymarket.com/?p=5135 Target shares rose by 8.5% in premarket trading on Tuesday after the retail giant released its earnings report for 2023. The company’s net sales were $31.9 billion, thereby exceeding analysts’ estimates of $31.38 billion. Gross profit came in at 25.6%, eclipsing the 22.7% in 2023 and estimates of 25%. Earnings per share came in at […]

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

]]>
Target shares rose by 8.5% in premarket trading on Tuesday after the retail giant released its earnings report for 2023. The company’s net sales were $31.9 billion, thereby exceeding analysts’ estimates of $31.38 billion. Gross profit came in at 25.6%, eclipsing the 22.7% in 2023 and estimates of 25%. Earnings per share came in at $2.98, beating estimates of $2.40 per share.

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.

]]>
Zara Founder Buys $245 Million Amazon Logistic Center https://theprimarymarket.com/zara-founder-buys-245-million-amazon-logistic-center/ Sat, 02 Dec 2023 06:15:00 +0000 https://theprimarymarket.com/?p=4868 Spanish retail company Zara founder Amancio Ortega has purchased an Amazon Logistics Center in Dublin, Ireland for 225 million euros ($245 million), his investment firm Pontegadea confirmed. This is Ortega’s first logistics real estate investment in Ireland. The investment house did, however, buy a luxury residential building in Dublin with 120 apartments for rent for […]

The post Zara Founder Buys $245 Million Amazon Logistic Center appeared first on theprimarymarket.com.

]]>
Spanish retail company Zara founder Amancio Ortega has purchased an Amazon Logistics Center in Dublin, Ireland for 225 million euros ($245 million), his investment firm Pontegadea confirmed. This is Ortega’s first logistics real estate investment in Ireland. The investment house did, however, buy a luxury residential building in Dublin with 120 apartments for rent for around 100 million euros.

The logistic center in question, located in Dublin’s Baldonnell Business Park, has an area of 1.2 million square feet, with approximately 630,000 square feet of the site being used by Amazon. Ortega reportedly purchased the property from property developer Mountpark.

Worth 2.2 billion euros in Inditex dividend this year, the Omega family investment house has been expanding its portfolio this year by investing in logistics centers, luxury buildings, and renewable energy projects. Still, the firm’s biggest investment purchase in the United States came in 2019, upon acquiring two Seattle office blocks leased to Amazon.

The post Zara Founder Buys $245 Million Amazon Logistic Center appeared first on theprimarymarket.com.

]]>
Sony Profit Falls on Weaker Chip Sales https://theprimarymarket.com/sony-profit-falls-on-weaker-chip-sales/ Fri, 10 Nov 2023 06:14:00 +0000 https://theprimarymarket.com/?p=4801 Sony reported its third-quarter earnings on Thursday, with its operating profit falling 29% to 263 billion yen ($1.74 billion). This missed estimates of a 306 billion yen profit from 10 analysts polled by LSEG. This slump appeared to mostly stem from a 38% decline in profit in the company’s chip division, resulting from higher expenses […]

The post Sony Profit Falls on Weaker Chip Sales appeared first on theprimarymarket.com.

]]>
Sony reported its third-quarter earnings on Thursday, with its operating profit falling 29% to 263 billion yen ($1.74 billion). This missed estimates of a 306 billion yen profit from 10 analysts polled by LSEG.

This slump appeared to mostly stem from a 38% decline in profit in the company’s chip division, resulting from higher expenses and weaker image sensor sales. Still, the company was able to hit its sales target of 25 million PlayStation 5 (PS5) consoles for the entire financial year. 4.9 million units were sold in the quarter, bringing this year’s total sales to 8.2 million units.

In response to its strong PS5 sales, Sony upped its full-year sales forecast by almost 5% to 190 billion yen. The company has maintained its full-year operating profit outlook of 1.17 trillion yen while raising its sales and net income forecast by 2% each.

The post Sony Profit Falls on Weaker Chip Sales appeared first on theprimarymarket.com.

]]>
Retail Sales Beat Forecasts Amid Consumer Resilience https://theprimarymarket.com/retail-sales-beat-forecasts-amid-consumer-resilience/ Tue, 17 Oct 2023 14:29:00 +0000 https://theprimarymarket.com/?p=4723 U.S. retail sales grew in September, beating forecasts as consumer spending remains resilient in the face of a slowdown. Retail sales increased by 0.7% compared to August, thereby outpacing estimates of a 0.1% rise compiled by Bloomberg. August sales were revised upwards to 0.8% from a 0.6% rise. Despite the Federal Reserve’s continued tight fiscal […]

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

]]>
U.S. retail sales grew in September, beating forecasts as consumer spending remains resilient in the face of a slowdown. Retail sales increased by 0.7% compared to August, thereby outpacing estimates of a 0.1% rise compiled by Bloomberg. August sales were revised upwards to 0.8% from a 0.6% rise.

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.

]]>
Amazon Offers Free Grocery Delivery for Orders Exceeding $100 https://theprimarymarket.com/amazon-offers-free-grocery-delivery-for-orders-exceeding-100/ Fri, 06 Oct 2023 06:55:00 +0000 https://theprimarymarket.com/?p=4676 Online retail giant Amazon.com has lowered its threshold for free grocery deliveries in an effort to boost its food business. The company is now offering free deliveries to customers who spend $100 or more on groceries, lowering its threshold from a previous level of $150. The company’s decision to start charging delivery fees for orders […]

The post Amazon Offers Free Grocery Delivery for Orders Exceeding $100 appeared first on theprimarymarket.com.

]]>
Online retail giant Amazon.com has lowered its threshold for free grocery deliveries in an effort to boost its food business. The company is now offering free deliveries to customers who spend $100 or more on groceries, lowering its threshold from a previous level of $150.

The company’s decision to start charging delivery fees for orders under $150 came in February, as the company sought to recuperate its rising costs and survive in an online shopping market with a slowing growth rate.

An Amazon spokesperson confirmed that the company’s new delivery pricing model is set to be implemented next Thursday. For orders costing between $50 and $100, customers who subscribe to Amazon Prime will be required to pay a $6.95 delivery fee. For those orders under $50, a $9.95 fee will be implemented. Customers who are not subscribed to Amazon Prime will be required to pay between $7.95 and $13.95.

The post Amazon Offers Free Grocery Delivery for Orders Exceeding $100 appeared first on theprimarymarket.com.

]]>
ersion="1.0" encoding="UTF-8"?> retail Archives - theprimarymarket.com Mon, 13 Jan 2025 14:23:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Lululemon and Abercrombie & Fitch Raise Quarterly Forecasts Amid Strong Holiday Season https://theprimarymarket.com/lululemon-and-abercrombie-fitch-raise-quarterly-forecasts-amid-strong-holiday-season/ Mon, 13 Jan 2025 14:12:00 +0000 https://theprimarymarket.com/?p=6562 The strong holiday season prompted retailers Lululemon Athletica and Abercrombie & Fitch to raise their quarterly forecasts for the current quarter, albeit with different responses from investors. Lululemon previously projected sales between $3.48 billion and $3.51 billion and profit per share between $5.56 and $5.64. Now, the company expects to see growth between 11% and […]

The post Lululemon and Abercrombie & Fitch Raise Quarterly Forecasts Amid Strong Holiday Season appeared first on theprimarymarket.com.

]]>
The strong holiday season prompted retailers Lululemon Athletica and Abercrombie & Fitch to raise their quarterly forecasts for the current quarter, albeit with different responses from investors.

Lululemon previously projected sales between $3.48 billion and $3.51 billion and profit per share between $5.56 and $5.64. Now, the company expects to see growth between 11% and 12%, net revenue between $3.56 billion and $3.58 billion, and profit per share between $5.81 and $5.85.

Lululemon’s chief financial officer (CFO), Meghan Frank, said on Monday that shoppers responded “well” to the company’s holiday product offerings.

“During the holiday season, our guests responded well to our product offering, enabling us to increase our fourth quarter guidance,” Frank shared in a statement.

Abercrombie & Fitch is also more optimistic about its holiday quarter results. The company stated it projects sales growth between 7% and 8% after previously forecasting growth between 5% and 7%.

Investors responded favorably to Lululemon’s adjusted guidance, sending its stock up by 2.40% in premarket trading on Monday. The company’s shares previously closed at $395.47, being 3.25% up since the start of 2025.

Abercrombie & Fitch, on the other hand, didn’t give investors much confidence due to the overwhelming belief that the company has little room for growth. Its stock sank 9.89% in premarket trading compared to Friday’s close of $160.92 per share.

The post Lululemon and Abercrombie & Fitch Raise Quarterly Forecasts Amid Strong Holiday Season appeared first on theprimarymarket.com.

]]>
U.S. Retail Sales Rise in July https://theprimarymarket.com/u-s-retail-sales-rise-in-july/ Sat, 17 Aug 2024 21:45:00 +0000 https://theprimarymarket.com/?p=5873 Retail sales in the United States stabilized in July, thereby indicating positive economic health. Sales rose by 1% for the month, thereby reversing a 0.2% drop in June and significantly outpacing the 0.3% rise that economists expected. The largest increase since January, retail sales were largely driven by motor vehicle sales and spare parts, which […]

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

]]>
Retail sales in the United States stabilized in July, thereby indicating positive economic health. Sales rose by 1% for the month, thereby reversing a 0.2% drop in June and significantly outpacing the 0.3% rise that economists expected.

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.

]]>
JD.com Beats Profit Forecast https://theprimarymarket.com/jd-com-beats-profit-forecast/ Fri, 16 Aug 2024 06:21:00 +0000 https://theprimarymarket.com/?p=5857 Major Chinese online retailer JD.com posted a total revenue of 291.40 billion yuan ($40.71 billion) in the second quarter, a 1.2% rise. This narrowly fell short of estimates of 292.89 billion yuan. The company’s second-quarter net profit, however, skyrocketed by 73.7% to 9.36 yuan per share, vastly outpacing an expected 6.07 yuan expected by economists […]

The post JD.com Beats Profit Forecast appeared first on theprimarymarket.com.

]]>
Major Chinese online retailer JD.com posted a total revenue of 291.40 billion yuan ($40.71 billion) in the second quarter, a 1.2% rise. This narrowly fell short of estimates of 292.89 billion yuan. The company’s second-quarter net profit, however, skyrocketed by 73.7% to 9.36 yuan per share, vastly outpacing an expected 6.07 yuan expected by economists polled by LSEG data.

JD’s administrative costs for the quarter were reduced by 9.6% in the second quarter. The company focused heavily on providing shoppers with discounts and lower-priced products. This was also adopted as a strategy to combat rising competition, which has led to major price wars between e-commerce stores as they seek to sustain their post-pandemic recovery.

Jacob Cooke, CEO of e-commerce consultancy WPIC Marketing + Technologies, warned that JD should not fall into the trap of sacrificing quality products for low-cost options as a means of undercutting the competition. “JD.com should lean into its strengths rather than engaging in a race to the bottom of excessive discounts,” Cooke maintained. Since adopting its low-cost strategy near the end of 2022, JD’s share prices have tanked from $60 to $26.

The post JD.com Beats Profit Forecast appeared first on theprimarymarket.com.

]]>
Walmart Set to Report Revenue Growth https://theprimarymarket.com/walmart-set-to-report-revenue-growth/ Thu, 15 Aug 2024 09:23:00 +0000 https://theprimarymarket.com/?p=5849 Walmart is expected to post revenue growth for the second quarter according to Wall Street estimates. Analysts are expecting the U.S. retailer to report a quarterly revenue of $168.46 billion, a 4.23% rise. Last year’s revenue was $161.63 billion. Adjusted earnings per share is expected to clock in at $0.65 compared to $0.61 in 2023. […]

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

]]>
Walmart is expected to post revenue growth for the second quarter according to Wall Street estimates. Analysts are expecting the U.S. retailer to report a quarterly revenue of $168.46 billion, a 4.23% rise. Last year’s revenue was $161.63 billion. Adjusted earnings per share is expected to clock in at $0.65 compared to $0.61 in 2023.

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.

]]>
Dolce & Gabbana Seeking New Capital Investment https://theprimarymarket.com/dolce-gabbana-seeking-new-capital-investment/ Mon, 22 Jul 2024 09:09:00 +0000 https://theprimarymarket.com/?p=5616 Dolce & Gabbana CEO Alfonso Dolce confirmed that the fashion house is open to seeking new investors as a means of raising capital. This comes as the company looks to open 12 new stores in the U.S., including at 695 Madison Avenue in New York, the former home of the five-store Hermes store. “We are […]

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

]]>
Dolce & Gabbana CEO Alfonso Dolce confirmed that the fashion house is open to seeking new investors as a means of raising capital. This comes as the company looks to open 12 new stores in the U.S., including at 695 Madison Avenue in New York, the former home of the five-store Hermes store.

“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.

]]>
Target Shares Jump as Earnings Exceed Expectation https://theprimarymarket.com/target-shares-jump-as-earnings-exceed-expectation/ Tue, 05 Mar 2024 13:55:00 +0000 https://theprimarymarket.com/?p=5135 Target shares rose by 8.5% in premarket trading on Tuesday after the retail giant released its earnings report for 2023. The company’s net sales were $31.9 billion, thereby exceeding analysts’ estimates of $31.38 billion. Gross profit came in at 25.6%, eclipsing the 22.7% in 2023 and estimates of 25%. Earnings per share came in at […]

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

]]>
Target shares rose by 8.5% in premarket trading on Tuesday after the retail giant released its earnings report for 2023. The company’s net sales were $31.9 billion, thereby exceeding analysts’ estimates of $31.38 billion. Gross profit came in at 25.6%, eclipsing the 22.7% in 2023 and estimates of 25%. Earnings per share came in at $2.98, beating estimates of $2.40 per share.

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.

]]>
Zara Founder Buys $245 Million Amazon Logistic Center https://theprimarymarket.com/zara-founder-buys-245-million-amazon-logistic-center/ Sat, 02 Dec 2023 06:15:00 +0000 https://theprimarymarket.com/?p=4868 Spanish retail company Zara founder Amancio Ortega has purchased an Amazon Logistics Center in Dublin, Ireland for 225 million euros ($245 million), his investment firm Pontegadea confirmed. This is Ortega’s first logistics real estate investment in Ireland. The investment house did, however, buy a luxury residential building in Dublin with 120 apartments for rent for […]

The post Zara Founder Buys $245 Million Amazon Logistic Center appeared first on theprimarymarket.com.

]]>
Spanish retail company Zara founder Amancio Ortega has purchased an Amazon Logistics Center in Dublin, Ireland for 225 million euros ($245 million), his investment firm Pontegadea confirmed. This is Ortega’s first logistics real estate investment in Ireland. The investment house did, however, buy a luxury residential building in Dublin with 120 apartments for rent for around 100 million euros.

The logistic center in question, located in Dublin’s Baldonnell Business Park, has an area of 1.2 million square feet, with approximately 630,000 square feet of the site being used by Amazon. Ortega reportedly purchased the property from property developer Mountpark.

Worth 2.2 billion euros in Inditex dividend this year, the Omega family investment house has been expanding its portfolio this year by investing in logistics centers, luxury buildings, and renewable energy projects. Still, the firm’s biggest investment purchase in the United States came in 2019, upon acquiring two Seattle office blocks leased to Amazon.

The post Zara Founder Buys $245 Million Amazon Logistic Center appeared first on theprimarymarket.com.

]]>
Sony Profit Falls on Weaker Chip Sales https://theprimarymarket.com/sony-profit-falls-on-weaker-chip-sales/ Fri, 10 Nov 2023 06:14:00 +0000 https://theprimarymarket.com/?p=4801 Sony reported its third-quarter earnings on Thursday, with its operating profit falling 29% to 263 billion yen ($1.74 billion). This missed estimates of a 306 billion yen profit from 10 analysts polled by LSEG. This slump appeared to mostly stem from a 38% decline in profit in the company’s chip division, resulting from higher expenses […]

The post Sony Profit Falls on Weaker Chip Sales appeared first on theprimarymarket.com.

]]>
Sony reported its third-quarter earnings on Thursday, with its operating profit falling 29% to 263 billion yen ($1.74 billion). This missed estimates of a 306 billion yen profit from 10 analysts polled by LSEG.

This slump appeared to mostly stem from a 38% decline in profit in the company’s chip division, resulting from higher expenses and weaker image sensor sales. Still, the company was able to hit its sales target of 25 million PlayStation 5 (PS5) consoles for the entire financial year. 4.9 million units were sold in the quarter, bringing this year’s total sales to 8.2 million units.

In response to its strong PS5 sales, Sony upped its full-year sales forecast by almost 5% to 190 billion yen. The company has maintained its full-year operating profit outlook of 1.17 trillion yen while raising its sales and net income forecast by 2% each.

The post Sony Profit Falls on Weaker Chip Sales appeared first on theprimarymarket.com.

]]>
Retail Sales Beat Forecasts Amid Consumer Resilience https://theprimarymarket.com/retail-sales-beat-forecasts-amid-consumer-resilience/ Tue, 17 Oct 2023 14:29:00 +0000 https://theprimarymarket.com/?p=4723 U.S. retail sales grew in September, beating forecasts as consumer spending remains resilient in the face of a slowdown. Retail sales increased by 0.7% compared to August, thereby outpacing estimates of a 0.1% rise compiled by Bloomberg. August sales were revised upwards to 0.8% from a 0.6% rise. Despite the Federal Reserve’s continued tight fiscal […]

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

]]>
U.S. retail sales grew in September, beating forecasts as consumer spending remains resilient in the face of a slowdown. Retail sales increased by 0.7% compared to August, thereby outpacing estimates of a 0.1% rise compiled by Bloomberg. August sales were revised upwards to 0.8% from a 0.6% rise.

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.

]]>
Amazon Offers Free Grocery Delivery for Orders Exceeding $100 https://theprimarymarket.com/amazon-offers-free-grocery-delivery-for-orders-exceeding-100/ Fri, 06 Oct 2023 06:55:00 +0000 https://theprimarymarket.com/?p=4676 Online retail giant Amazon.com has lowered its threshold for free grocery deliveries in an effort to boost its food business. The company is now offering free deliveries to customers who spend $100 or more on groceries, lowering its threshold from a previous level of $150. The company’s decision to start charging delivery fees for orders […]

The post Amazon Offers Free Grocery Delivery for Orders Exceeding $100 appeared first on theprimarymarket.com.

]]>
Online retail giant Amazon.com has lowered its threshold for free grocery deliveries in an effort to boost its food business. The company is now offering free deliveries to customers who spend $100 or more on groceries, lowering its threshold from a previous level of $150.

The company’s decision to start charging delivery fees for orders under $150 came in February, as the company sought to recuperate its rising costs and survive in an online shopping market with a slowing growth rate.

An Amazon spokesperson confirmed that the company’s new delivery pricing model is set to be implemented next Thursday. For orders costing between $50 and $100, customers who subscribe to Amazon Prime will be required to pay a $6.95 delivery fee. For those orders under $50, a $9.95 fee will be implemented. Customers who are not subscribed to Amazon Prime will be required to pay between $7.95 and $13.95.

The post Amazon Offers Free Grocery Delivery for Orders Exceeding $100 appeared first on theprimarymarket.com.

]]>