People walk near a Kohl’s department store entranceway on June 07, 2022 in Doral, Florida. Kohl’s announced that it has entered into exclusive negotiations with Franchise Group, which is proposing to buy the retailer for $ 60 per share. Joe Raedle | Getty Images The retail holding company Franchise Group is weighing lowering its bid … Read more
Scoop is one of Walmart’s exclusive fashion brands. It has also struck deals with national brands like BCBG Paris. Melissa Repko | CNBC SPRINGDALE, Arkansas – Dressed-up mannequins. Eye-catching displays of sleek furniture and colorful swimsuits. And store signs that promote exclusive brands and nationally recognized ones. Walmart’s redesigned SuperCenter, located just 16 miles from … Read more
Take a look at some of the biggest movers in the premarket: Target (TGT) – Target announced a series of moves to “right-size” its inventory levels, including additional markdowns and canceling orders. It cut its operating margin guidance for the current quarter to 2% from the prior 5.3% but said the margin would recover to … Read more
The drawn-out bidding process for Kohl’s does not appear to be coming to an end any time soon. It could take several weeks, if not longer, for a deal to come together, a person familiar with the situation told CNBC. The dialogue has been particularly lengthy because of the difficulty in securing financing in uncertain … Read more
A Nordstrom employee fixes a floral dress on a mannequin in one of the retailer’s department stores. Ben Nelms | Bloomberg | Getty Images Out with sweatpants, in with blazers, lipstick and eye-popping prints on dresses. Americans are sprucing up their wardrobes and spending more on dressier clothing, makeup and accessories as they start going … Read more
Nordstrom on Tuesday reported fiscal first-quarter sales ahead of analysts’ expectations and hiked its full-year outlook, citing momentum in the business as shoppers visited the company’s department stores to refresh their closets with designer brands and shoes. Nordstrom now sees fiscal 2022 revenue, including credit card sales, up 6% to 8%, compared with a prior … Read more
So what’s priced in? So much for defensive plays. Consumer Staples reacting so poorly to Walmart and Target, and Thursday to Kohl’s, which cut its fiscal 2022 earnings, tells you there is additional growth and earnings risk out there. A lot of investors have come to believe that interest rate risk from the Federal Reserve … Read more
Customers leave a Kohl’s store on November 12, 2015 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images Kohl’s on Thursday said final bids to sell the business are expected in the coming weeks. The retailer also slashed its outlook for the year, with CEO Michelle Gass saying 2022 started out … Read more
Compilation of Target, Walmart, Lowe’s and Home Depot stores. Reuters How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers – Walmart, Target, Home Depot and Lowe’s – reported quarterly financial results this week, and they each offered a different perspective on where and how … Read more
The hedge fund of billionaire David Tepper had an active first quarter, exiting positions in several major companies while doubling down on a few tech names. Securities filings released Monday showed that Tepper’s Appaloosa Management was largely a seller of equities during the first quarter, with two exceptions among his top holdings. The hedge fund … Read more