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☆ Tiger Woods ends Nike partnership after 27 years
▼ + stars: | 2024-01-08 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

Tiger Woods during the pro-am as a preview for the Hero World Challenge at Albany Golf Course in Nassau on Nov. 29, 2023. Tiger Woods' 27-year partnership with Nike has come to an end. "Phil Knight's passion and vision brought this Nike and Nike Golf partnership together and I want to personally thank him, along with the Nike employees and incredible athletes I have had the pleasure of working with along the way," Woods wrote. In a statement, the company said: "For over 27 years, we have had the honor to partner with Tiger Woods, one of the greatest athletes the world has ever seen. Yet, Woods brought significant exposure to the Nike brand.

Persons: Woods, Tiger Woods, Phil Knight's, Mark Steinberg, Tiger, Roger Federer, Marc Maurer, it's, TaylorMade, aren't, Brian Yarbrough, Edward Jones, Eric Smallwood, LeBron James, Smallwood, — CNBC's Gabrielle Fonrouge Organizations: Nike, Nike Golf, CNBC, Apex Marketing, Golfers, CNBC PRO Locations: Nassau, Swiss, Orlando, Oregon

☆ A mixed picture for retailers as bargain-hunting shoppers pick their spots
▼ + stars: | 2023-08-29 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +3 min

A sale sign greets shoppers at a retail store in Carlsbad, California, U.S., May 25, 2023. Sephora "performed exceptionally well" with strength in North America in the first half of the year, the beauty retailer's owner LVMH (LVMH.PA) said last month. Retailers have also flagged the impact from Americans prioritizing experiences like movies, vacations and concerts over discretionary purchases. Tempered forecasts from sportswear retailers Foot Locker (FL.N) and Dick's Sporting Goods (DKS.N) also added to the mixed picture, with Dick's also citing an increase in organized retail crime and theft at stores. Reporting by Deborah Sophia in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Edward Jones, Brian Yarbrough, LVMH, Yarbrough, Dick's, Corie Barry, Liza Amlani, We've, Christina Hennington, Deborah Sophia, Sriraj Organizations: REUTERS, Ross Stores, Walmart, Dick's Sporting, Electronics, U.S . Labor Department, Thomson Locations: Carlsbad , California, U.S, North America, Bengaluru

Despite these challenges, Walmart International has performed strongly under McKenna's leadership, under which it exited poorly performing operations in Japan, Britain, Argentina and Brazil. McKenna has led Walmart International since 2018, overseeing a multi-year transformation that resulted in the unit delivering more growth and stronger financial results across the board, Walmart CEO Doug McMillon wrote in a memo to employees. Sam's Club, a rival to Costco (COST.O), for years had been an underperforming business with muted sales growth. Sam's Club, a business unit with $84 billion of yearly revenue, has posted 12.7% average annual comparable sales growth since McKay took over the division, according to a Reuters calculation. Walmart also announced that Christopher Nicholas, currently chief operating officer of Walmart U.S., would replace McLay as CEO of Sam's Club.

Persons: Mario Anzuoni, Kathryn McLay, Judith McKenna, McKenna, Doug McMillon, Piper Sandler, McKay, she's, Edward Jones, Brian Yarbrough, Christopher Nicholas, Ananya Mariam Rajesh, Siddharth Cavale, Anil D'Silva, Sandra Maler, Jamie Freed Organizations: Walmart, REUTERS, Walmart Inc, Walmart International, Sam's, Woolworths, Sam's Club, Costco, Walmart U.S, McLay, Jan, Thomson Locations: Rosemead , California, U.S, China, Mexico, South Africa, Japan, Britain, Argentina, Brazil, India, Walmart's U.S, Walmart Mexico, Bengaluru, New York

A customer leaves one of the stores of discount retail chain Target in Ancaster, January 15, 2015. REUTERS/Peter Power/File PhotoAug 14 (Reuters) - Target (TGT.N) is expected to post its first quarterly drop in revenue in about six years when it reports results on Wednesday, as the big-box retailer reels from a shift in consumer spending away from discretionary goods to services. "Target is going to suffer more versus the others because they have a much larger consumer discretionary element to their business," Edward Jones analyst Brian Yarbrough said. At least 16 analysts have cut their price targets on the retailer since the beginning of June as its merchandise is skewed towards discretionary items such as clothes, electronics and beauty products. THE CONTEXTTarget in May had warned of dour second-quarter results as inflation forces consumers to shun non-essential goods.

Persons: Peter Power, Edward Jones, Brian Yarbrough, Erik Carnell's Abprallen, Group's Joseph Feldman, Jane Hali, Jessica Ramirez, Granth, Vinay Dwivedi Organizations: REUTERS, Mastercard, American Express, Pride, Associates, Reuters, Refinitiv, Walmart, Target, Thomson Locations: Target, Ancaster, Bengaluru

☆ Yum Brands gets a lift as KFC's cheaper options draw more customers
▼ + stars: | 2023-08-03 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Quarterly comparable sales at KFC jumped 13% and topped estimates for an 8.29% growth, as options like the 2-for-$5 fried chicken wrap and launches including chicken nuggets pulled in lower-income consumers struggling with high food prices. [1/2]A Kentucky Fried Chicken (KFC) bucket of mixed fried and grilled chicken is seen in this picture illustration taken April 6, 2017. Yum Brands' revenue rose 3% to $1.69 billion but fell short of estimates of $1.75 billion, largely due to weaker-than-expected sales at Taco Bell and Pizza Hut. Excluding items, Yum Brands earned $1.41 per share, above estimates of $1.24. Reporting by Deborah Sophia in Bengaluru; Editing by Shinjini Ganguli and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Taco, David Gibbs, Edward Jones, Brian Yarbrough, Carlo Allegri, Chris Turner, Deborah Sophia, Shinjini Ganguli Organizations: KFC, Taco Bell, Pizza, Yum Brands, Wednesday, REUTERS, Thomson Locations: Pizza, U.S, Kentucky, Russia, Ukraine, Bengaluru

☆ Pizza Hut-parent Yum Brands profit sliced by promotions
▼ + stars: | 2023-05-03 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Shares of the KFC and Pizza Hut owner tumbled more than 4% after the company also warned of a $10 million to $20 million hit to current-quarter operating profit. However, along with higher food and labor costs, foreign exchange pressures and ramped up investments in automation and digital business, the aggressive promotions largely drove a 25% slump in profit. McDonald's Corp (MCD.N), Burger King parent Restaurant Brands (QSR.TO) and Chipotle Mexican Grill (CMG.N) all topped quarterly sales and profit estimates on the back of price hikes and robust demand. Labor challenges were also easing, with the company seeing job application rates increase while staffing levels were either at or near 2019 levels. Excluding special items, it earned $1.06 per share, missing estimates of $1.13, according to Refinitiv data.

Feb 21 (Reuters) - TJX Cos Inc (TJX.N) is likely to see a strong growth in annual sales as inflation pushes bargain-hungry but brand-conscious customers to off-price retailers offering cheaper deals and promotions. A case in point is Nordstrom Inc (JWN.N), which cut its annual profit forecast after its off-price store chain Rack failed to attract people despite heavy discounting due to inventory mismanagement. Jessica Ramirez, analyst at Jane Hali and Associates, said TJX is in tune with what the customer is shopping for and are interested. "TJX is very strong with their assortment ... they have been able to bring a lot of good names into their product offerings," she said. Reporting by Ananya Mariam Rajesh and Aatrayee Chatterjee in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Americans are quitting plant-based meat due to high prices, worse taste, and questionable health benefits
▼ + stars: | 2023-02-15 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

In 2020, retail sales of plant-based meat grew 45%, surpassing the $1 billion mark for the first time. Questionable taste and health benefits are scaring off consumersFirst, it's unclear whether the plant-based meat industry has a growing customer base. On the all-important issue of taste, many Americans say plant-based meat disappoints, and some experts think the industry's efforts to compare plant-based meat to the real thing is a losing battle. Additionally, while plant-based meat has environmental benefits, growing research suggests it may not be much — if at all — healthier than traditional meat, something consumers are beginning to suspect. It's also possible that cultivated meat — meat grown from animal cells in a lab — will prove to be the answer, though this innovation could face some obstacles as well.

☆ Nike faces 3 obstacles that could threaten its dominance
▼ + stars: | 2023-01-14 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

New Adidas CEO Bjørn Gulden could reinvigorate the rivalry with Nike. Top of mind with stock pickers: Nike needs to shed inventory and get sales growing more in China. Where is the next leg of growth going to come from? Before the December earnings report, Simeon Siegel, managing director for equity research at BMO Capital Markets, told Insider Nike appeared to be turning a corner in China. Analysts also think new Adidas CEO Bjørn Gulden, who previously worked as CEO of Puma, could reinvigorate the rivalry with Nike.

☆ 3 things that should be worrying Nike
▼ + stars: | 2022-12-26 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

New Adidas CEO Bjørn Gulden could reinvigorate the rivalry with Nike. Top of mind with stock pickers: Nike needs to shed inventory and get sales growing more in China. Analysts are also wondering how much competition Nike will face from Adidas under its new CEO Bjørn Gulden. Before the December earnings report, Simeon Siegel, managing director for equity research at BMO Capital Markets, told Insider Nike appeared to be turning a corner in China. Analysts also think new Adidas CEO Bjørn Gulden, who previously worked as CEO of Puma, could reinvigorate the rivalry with Nike.

☆ Walmart shoppers are flocking to stores for cheap groceries, while website visits languish — proving how vital its stores are in a tough economy
▼ + stars: | 2022-12-14 | by ( Ben Tobin | Alex Bitter | ) www.businessinsider.com time to read: +6 min

But while online shopping has dipped this year, more people have been flocking back to Walmart stores. According to estimates from Placer.ai, a location-data company, Walmart stores saw a 1% increase in the average number of daily shoppers through December 4 compared to the same year prior. But those customers are typically not buying food online, according to Yarbrough. Online food sales slowing across retailersWalmart is the top US grocer. The membership platform that launched in 2020 incentivizes online shopping by offering free delivery.

☆ The dream of plant-based meat in fast food may already be dead
▼ + stars: | 2022-11-23 | by ( Mary Meisenzahl | ) www.businessinsider.com time to read: +3 min

Fast food chains have experimented with plant-based proteins for years with limited success. Plant-based meat is too expensive and adds too much complexity for widespread fast food adoption, an analyst said. Despite some exceptions like Burger King's Impossible Whopper, plant-based fast food menu items have largely been featured as limited-time offerings. It's "very hard" to convert meat eaters to plant-based meat, he said. Plant-based meat isn't likely to disappear from fast food menus, but it's also not going to replace beef.

☆ Walmart is laying off 1,500 workers, transforming a warehouse as it tries to compete with Amazon's marketplace
▼ + stars: | 2022-10-11 | by ( Ben Tobin | ) www.businessinsider.com time to read: +4 min

Walmart is letting go of nearly 1,500 workers at one of its fulfillment centers in the Atlanta area, with the company repurposing the e-commerce facility to support third-party sellers. A Walmart blog post published on Monday said the company will turn the fulfillment center into "a dedicated facility supporting our growing Walmart Fulfillment Services (WFS) business." The company launched Walmart Fulfillment Services in 2020 to allow third-party-marketplace sellers to ship and store products using the retailer's warehouses. For comparison, Amazon said it has nearly 2 million third-party sellers on its marketplace. Yarbrough said Walmart may convert more fulfillment centers to focus on WFS as the company attracts more third-party sellers to its marketplace.

☆ Walmart's leading position in grocery provides 'bupkus' in profit. Analysts say the retailer needs to do more to succeed in the high-margin furniture space.
▼ + stars: | 2022-09-26 | by ( Ben Tobin | ) www.businessinsider.com time to read: +5 min

Walmart became the largest food retailer in the US in 2001 with grocery sales raking in $56 billion. Today the retailer mixes sales of high-margin items like electronics and furniture with those same groceries. But times have changed, particularly for the value-conscious customers Walmart caters to. While net-profit margins for furniture items sold in the US can be as high as 50% to 60%, according to analysts, that total usually hovers around 1% to 3% for grocery items. He did not specify how much Walmart earned in revenue or profits from furniture sales in 2021.

☆ Nike is racing to replicate Amazon's delivery speed by connecting its complex network of stores, warehouses, and tech
▼ + stars: | 2022-09-19 | by ( Matthew Kish | ) www.businessinsider.com time to read: +8 min

Nike is working to tie together inventory held by stores, retail partners, and warehouses. The company's connected-inventory plan also plays into a larger Nike shift to more regional shipping, including out of a wider fleet of Nike stores and warehouses. Gloria DawsonMore retail stores, more warehousesAs part of the overall effort to serve customers "when they want it, how they want it," Nike is adding retail stores and distribution centers. While most of Nike's stores are in major metropolitan areas, stores are increasingly popping up in second-tier cities. If you go into Dick's, and Dick's doesn't have it, and they have it at the Nike store, they ship it to your house.

☆ Nike races to deliver at Amazon's speed by doubling down on 'connected inventory'
▼ + stars: | 2022-09-16 | by ( Matthew Kish | ) www.businessinsider.com time to read: +8 min

At an annual meeting last week, Nike CEO John Donahoe once again talked about "connected inventory." The company's connected-inventory plan also plays into a larger Nike shift to more regional shipping, including out of a wider fleet of Nike stores and warehouses. By that time, Parker said he was bullish on connected inventory, with a pilot at 19 Nike stores in South Korea and two unnamed retail partners. While most of Nike's stores are in major metropolitan areas, stores are increasingly popping up in second-tier cities. "Connected inventory is about getting it to you faster.

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