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☆ Thursday's analyst calls: Discount retailers upgraded, more good news for Carvana, tough outlook for CVS
▼ + stars: | 2024-05-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +8 min

Thursday's analyst calls feature upgrades to discount retailers TJX and Burlington and used car outlet Carvana, while there was more bad news for CVS Health following a tough earnings report Wednesday. He also raised his price target to $130 from $70, or 49.2% above Wednesday's close price. He lowered his price target by $25 to $60, or just 5.6% higher from Wednesday's close price. Analyst Jay Sole also lifted his price target to $132 from $104, indicating nearly 41% upside from Wednesday's close. He raised his price target to $212 from $126, suggesting shares could gain 19.1% from where they closed Wednesday.

Persons: Morgan Stanley, Joseph Moore, Moore, Samik Chatterjee, Chatterjee, Tal Liani, Liani, — Hakyung Kim, JPMorgan Carvana, Rajat Gupta, Gupta, Kevin Caliendo, Caliendo, Jay Sole, Sole, BURL, — Hakyung Kim —, Michael Bloom Organizations: CNBC, CVS Health, UBS, CVS, JPMorgan, Qualcomm, Wall Street, Samsung, Huawei, Edge, headwinds, " Bank of America, Microsoft, Burlington Discount, TJX Companies, Burlington Stores, Burlington Locations: Burlington, Carvana, CY24, seasonality, optionality, Maxx

☆ Off-price retail is poised to keep taking market share. Why is TJX's stock stuck?
▼ + stars: | 2024-04-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

The ongoing challenges for department stores, which extend back more than a decade, keep playing into the hands of off-price competitors, UBS said. Despite woes at other retailers, TJX stands out as a resilient company well-equipped to avoid many of the industry's challenges. TJX 1Y mountain TJX's stock performance over the past 12 months. One factor keeping a lid on TJX's stock recently may be that it is trading close to its historical valuation, noted Chuck Grom, a consumer and retail analyst at Gordon Haskett. On the other hand, spending at department stores fell 3.7% in March after a 5.2% decline in February, according to Bank of America.

Persons: Jeff Marks, TJX, — TJX, Ernie Herrman, Chuck Grom, Gordon Haskett, Grom, TJX's, Corey Tarlowe, Tarlowe, Jim Cramer's, Jim Cramer, Jim, Jeff Greenberg Organizations: Companies, TJX Companies, Ross Stores, UBS, Burlington Stores, Nordstrom, Marshalls, Home Goods, CNBC, Loop, Jefferies, Bank of America, Universal, Getty Locations: Maxx, Port St Lucie , Florida

☆ Jim Cramer's take on Kohl’s, On Holding, Southwest Airlines, 3M and Paramount Global
▼ + stars: | 2024-03-12 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Kohl's : Shares fell about 2% after the department store chain delivered a fourth-quarter earnings beat, but same-store sales declined more than expected. However, "if you own it, keep it," Jim Cramer suggested, referring to Kohl's stock. On Holding : Shares plunged 14% after the buzzy Swiss shoemaker's quarterly earnings missed estimates alongside a slightly softer-than-expected outlook. Paramount Global : Private equity firm Apollo Global Management has reached out to Paramount Global about a possible takeover or asset purchase, Axios reported Tuesday, citing two sources familiar with the matter. "If you're playing this for upside, you've got to remember we do not believe in mergers if we think the fundamentals are not good, and the fundamentals are not good" at Paramount Global, Cramer said.

Persons: Jim Cramer's, Jim Cramer, Cramer, Tom Kingsbury's, Bill Brown, Mike Roman, Roman, Brown, Axios, you've Organizations: CNBC, Club, Burlington Stores, Swiss, Southwest Airlines, Boeing, L3Harris Technologies, 3M, Paramount Global, Private, Apollo Global Management, CBS

☆ Babies R Us is coming to about 200 Kohl's stores
▼ + stars: | 2024-03-12 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +1 min

Kohl's said Tuesday that it's teaming up with the owner of Babies R Us to bring baby gear, furniture and more to approximately 200 of its stores across the country. In a news release, Kohl's said the first Babies R Us shops will open this August and expand to more stores in the fall. Kohl's said the shops will range from 750 to 2,500 square feet, and will add more brands and merchandise to Kohl's baby category. As of Monday's close, Kohl's shares have fallen about 5% so far this year. Kohl's shares closed on Monday at $27.19, bringing the company's market value to $3.01 billion.

Persons: Kohl's, it's, Joe's Jeans, Anne Klein, Fisher, Price, It's, Tom Kingsbury, Michelle Gass, Levi Strauss, That's Organizations: WHP, Burlington Stores, Franchise Group, Macy's

☆ Cramer's week ahead: Earnings from Adobe, Dollar Tree and Dollar General
▼ + stars: | 2024-03-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday guided investors through next week's most important happenings on Wall Street, highlighting Adobe 's earnings report, as well as ones from Dollar General and Dollar Tree . Dollar Tree reports on Wednesday, and Cramer said Wall Street has long favored dollar stores, adding that the company has a "good a handle on the psyche of the American consumer." The producer price index will be released Thursday, as well as earnings from Dollar General. Like Dollar Tree, he thinks the company will do well, and it will "tell a story of price cutting that the analysts will lap up." But by the end of the week, Wall Street will be buzzing about Nvidia 's conference, which is set to take place from March 18 to 21.

Persons: CNBC's Jim Cramer, Cramer, Kohl's, Tom Kingsbury, Williams, Lennar, Jabil Organizations: Adobe, Dollar, Oracle, Vail Resorts, Holding, Burlington Stores, Sporting Goods, Nvidia Locations: Sonoma

☆ Stocks making the biggest moves midday: Victoria's Secret, Novo Nordisk, Intel, Shake Shack and more
▼ + stars: | 2024-03-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Victoria's Secret said it anticipates a larger-than-expected decline in revenues for the first quarter and full year. Novo Nordisk — Shares rallied nearly 8.9% to record high level after the company reported positive Phase I trial results for its new experimental weight loss drug amycretin. The company reported adjusted earnings of 61 cents per share on $1.68 billion in revenue for its fiscal fourth quarter. Analysts had estimated earnings of 50 cents per share on $1.67 billion in revenue, according to LSEG. Burlington Stores — The stock rose 7.5% after Burlington posted a fourth-quarter beat on adjusted earnings per share and revenue.

Persons: Victoria's, amycretin, TD Cowen, Shake Shack's, Kroger, LSEG, Iberdrola, Avangrid's, Mizuho, —, Samantha Subin Organizations: Novo Nordisk —, American Eagle Outfitters, Burlington Stores, Burlington, New York Community Bancorp, Liberty Strategic, VanEck Semiconductor, Nvidia, Micron Technology, Stifel, Intel, Bloomberg Locations: Spanish

☆ Chip stocks soar — plus, this lagging industrial is due for a catch-up trade
▼ + stars: | 2024-03-07 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. In fact, about half of the S & P 500's industrial stocks have hit records high since the start of 2024. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Powell, Jerome Powell, Jim, Shrugging, Eli Lilly, It's, Lilly, Cramer, Linde, TJ Maxx, we'll, Jim Cramer's, Alwyn Scott Organizations: CNBC, Federal, Qualcomm, Broadcom, Nvidia, Arm Holdings, Devices, Novo Nordisk, Club, Palo Alto, Palo, Honeywell, Aerospace, Berenberg, Eaton Corp, Burlington Stores, Marshalls, TJX Companies, Costco, Marvell Technology, Inc, Bloomberg, Jim Cramer's Charitable, Honeywell Aerospace Locations: cybersecurity, America, Phoenix

☆ More problems at New York Community Bancorp have yet to derail the big bank trade
▼ + stars: | 2024-03-06 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Unlike last March, the problems of another regional bank have yet to derail the big bank trade. Broadcom and Costco earnings report Thursday after the bell, while the big non-farm payroll report for February is out Friday before the bell. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . A New York Community Bank stands in Brooklyn on February 08, 2024 in New York City.

Persons: Jim Cramer, Morgan Stanley, Jerome Powell, Wednesday's, Nikesh Arora, Jim Cramer's, Jim, Spencer Platt Organizations: CNBC, New York Community Bancorp, Capitol, DuPont, Fermium, Palo Alto Networks, Palo Alto, Burlington Stores, Eagle Outfitters, BJ's Wholesale, Broadcom, Costco, Jim Cramer's Charitable, York Community Bank, Getty Locations: Wells Fargo, Palo, Kroger, Brooklyn, New York City

☆ Empty Bed Bath & Beyond stores are hot real estate. Here’s who’s moving in
▼ + stars: | 2023-11-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

(Overstock.com bought Bed Bed & Beyond’s brand out of bankruptcy and has relaunched it online, complete with the 20% coupons.) Burlington, Michaels, Barnes & Noble, Ollie’s Bargain Outlet, Macy’s, HomeGoods and other chains have replaced old Bed Bath & Beyond stores. The majority of Bed Bath & Beyond’s stores are in the suburbs of mid-size and large cities, and are under 50,000 square feet. Bed Bath & Beyond spaces have been grabbed up swiftly at rents of up to 50% what Bed Bath & Beyond was paying, according to commercial real estate investment firm CBRE. Kimco Realty, a real estate owner with 26 former Bed Bath & Beyond leases, said that new leases were 38% higher than Bed Bath & Beyond rents.

Persons: Michael O’Sullivan, Barnes, Noble, hasn’t, Warby Parker, Brandon Isner, CBRE’s, ”, TJ Maxx, REI Organizations: New, New York CNN, Sears, Circuit, Kmart, Burlington, Bed, Kimco, Sports Authority Locations: New York, Burlington, . Burlington, Michaels, Kimco, HomeGoods

☆ Stock Market Today: Dow, S&P 500 Open Lower; Nvidia's Earnings in Focus
▼ + stars: | 2023-11-21 | by ( ) www.wsj.com time to read: +1 min

Artificial intelligence remains in the spotlight, testing U.S. stocks after the S&P 500 posted its best three-week stretch since 2020. Earnings are due later today from Nvidia, the chip maker that has been riding the AI wave . Investors are also watching the drama unfolding at OpenAI , where hundreds of staff are threatening to quit—and contemplating the implications for Microsoft and others. The AI boom that powered the stock market higher for much of the year stalled this summer as Treasury yields surged. The S&P 500, Nasdaq Composite and the Dow industrials started Tuesday in the red.

Persons: —, Stocks, Dow industrials, Treasurys Organizations: Nvidia, Microsoft, Nasdaq, Dick's Sporting Goods, Burlington Stores

☆ Stocks making the biggest moves before the bell: Lowe's, Dick's, Best Buy, Kohl's and more
▼ + stars: | 2023-11-21 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Lowe's — The home-improvement retailer dropped 3.9% after cutting its sales outlook for the full year. Lowe's also missed analyst expectations for revenue in the third quarter, as sales slid 13% year over year. Best Buy — Shares of the consumer electronics retailer fell 5.9% after the company cut its full year sales outlook in an effort to prepare for price-conscious holiday shoppers. Best Buy beat Wall Street's quarterly earnings expectations, but fell short on revenue. Kohl's lowered the low end of its full year same-store sales outlook.

Persons: Lowe's, Kohl's, Medtronic, LSEG, Oppenheimer, Goldman Sachs, Goldman, Morgan Stanley, Cloudflare, Macheel, Sarah Min, Michelle Fox, Yun Li, Jesse Pound Organizations: Dick's, Goods, American Eagle Outfitters, Burlington Stores, Baidu, Wall, LSEG, Gen, — Locations: Burlington

☆ Stocks making the biggest moves midday: Amazon, Medtronic, American Eagle, Lowe's, C3.ai and more
▼ + stars: | 2023-11-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Kohl's — Shares dropped more than 9% after the retailer reported weaker-than-expected revenues for the third quarter. American Eagle Outfitters — The apparel retailer sank 16% after its operating income guidance for the full year came in weaker than expected. C3.ai — Shares of the artificial intelligence software company added 3.4% in midday trading following an upgrade to outperform from Oppenheimer. Baidu reported 34.45 billion yuan for the quarter, surpassing the consensus estimate of 34.33 billion yuan from analysts polled by LSEG. Lowe's — Shares of the home improvement retailer dipped 2.7% after Lowe's reported softer-than-expected revenue for the third quarter .

Persons: CNBC's David Faber, Jeff Bezos, Faber, Medtronic, Kohl's, Timothy Horan, Fitch, — CNBC's Brian Evans, Alex Harring, Jesse Pound, Tanaya Macheel, Sarah Min Organizations: Amazon, Burlington, LSEG, Eagle Outfitters, Oppenheimer, Baidu, VMWare, Broadcom, Dick's, Goods, Abercrombie, Technologies, Agilent Technologies Locations: Burlington

☆ The shortened trading week features earnings from our best stock of the year
▼ + stars: | 2023-11-18 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

After making three trades this week, we're heading into a shortened trading week. NVDA YTD mountain Nvidia YTD Shares of Nvidia closed Nov. 14 at a record high of $496.56 each. Here's the full rundown of all the important domestic data in the week ahead, which also features a slew of earnings from brand-name retailers. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: FactSet, It's, Jim Cramer, NIU, Jack, JACK, Jim Cramer's, Jim, New York Stock Exchange Michael Nagle Organizations: Fed, TJX, Palo Alto Networks, PMI, ISM, Institute for Supply Management, Nvidia, Apple, Technologies, Video Communications, Agilent Technologies, Baidu, Abercrombie, Fitch, Burlington Stores, Eagle Outfitters, Dick's Sporting, Autodesk, HP, Nordstrom, Urban Outfitters, Deere & Company, CNBC, New York Stock Exchange, Bloomberg, Getty Locations: U.S, China

☆ What we're watching when off-price retailer TJX reports this week
▼ + stars: | 2023-11-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

When TJX Companies (TJX) reports quarterly results this week, we expect the off-price retailer to demonstrate continued momentum on both its top and bottom lines, helped by consumers looking for solid deals in an uncertain economic environment. And we're confident management can deliver a further expansion of gross margins as wary American consumers look for value at TJX's popular off-price chains. "Traffic remains the primary driver for comp in off-price," Barclays said in a recent research note previewing earnings for TJX and peers Ross Stores (ROSS) and Burlington Stores (BURL). Higher profits In addition to delivering higher sales, TJX continues to show improved profitability — a trend we expect to accelerate when the company reports on Wednesday. At the same time, according to Telsey, TJX faces headwinds from incremental store wage and payroll costs.

Persons: TJX, Ross, ROSS, Dana Telsey, Telsey, TJX's, Jim Cramer's, Jim Cramer, Jim, TJ Maxx, Prince George's, Chip Somodevilla Organizations: TJX, Marshalls, LSEG, Barclays, Burlington Stores, Telsey Advisory, CNBC, Shoppers, TJ, Getty Locations: Maxx, TJX, Telsey, Prince, Hyattsville , Maryland

☆ Kohl’s holiday look previews the retailer’s plans to snap out of sales slump
▼ + stars: | 2023-10-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +8 min

Melissa Repko | CNBCAs shoppers head to Kohl's stores this holiday season, they will see gift ideas, Christmas ornaments and a potential glimpse of the retailer's future. Kohl's has leaned in by opening more Sephora shops inside of its stores. It'll be a bigger part of this holiday season. A year ago, roughly half of Kohl's stores had a Sephora shop. Pet merchandise is getting more square footage at Kohl's stores.

Persons: Merchant Nick Jones, Melissa Repko, Tom Kingsbury, Michelle Gass, Levi Strauss, Kohl's, Kingsbury, Christie Raymond, Covid, Raymond said, splurge, It'll, Raymond, Sephora, it's, Nick Jones, It's, Jones, Fido Organizations: CNBC, Burlington Stores, Franchise Group, Kohl's, Marks, ASDA, Walmart, Bed Locations: Ramsey , New Jersey, Kohl's

☆ Residents alarmed as shoplifting incidents trigger store departures: ‘As a community we can’t allow this to continue’
▼ + stars: | 2023-09-30 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +10 min

“Having Target here helped revitalize East Harlem with hundreds of new jobs, customers and more services to our area. Courtesy Lou MartinsThe retail industry said it is grappling with a particular type of store theft that is more dangerous than petty shoplifting, called “organized retail crime” or ORC. The East River Plaza shopping center in New York City's East Harlem neighborhood. “The East Harlem store could have been doing very high volume in sales but still losing money because of theft,” Cohen said. The Target store in NYC's East Harlem is set to close in October.

Persons: Lou Martins, “ I’ve, ”, Martins, Maria Gonzalez Arrieta, “ We’ve, ” Lou Martins, Alex Abreu, Abreu, “, ” Abreu, it’s, We’ve, Tom Wickman, ” Wickman, “ Abuelitas, ” Xavier Santiago, Santiago Xavier, Santiago, I’ve, Mark Cohen, ” Cohen, Venkatesh Shankar, ” Shankar, Fatih Aktas, Ted Wheeler, ” – CNN’s Matt Egan Organizations: New, New York CNN, Costco, 118th, Target, eBay, Facebook, ”, East Harlem, Blumfeld, The New York Times, New York Police, Walgreens, Business, US Chamber of Commerce, “, Commerce, Community Board, East, Community, Columbia, Texas, Mays Business School, Anadolu Agency, Blumenfeld, CNN, Portland Police Bureau Locations: New York, Manhattan —, New York City, San Francisco, Seattle, Target, Plaza, Harlem, Aldi, Burlington, Pleasant Avenue, East Harlem, NYC's East Harlem, River, Portland

☆ These are the top 10 U.S. cities where New Yorkers want to move—only 1 is in California
▼ + stars: | 2023-08-08 | by ( Celia Fernandez | ) www.cnbc.com time to read: +4 min

New York City is one of the most expensive American cities to live in, yet people from all around the world continue to flock there. Los Angeles is the only California city to make StreetEasy's list, while Florida had three cities rank in the top 10, including Tampa and Orlando. 1 U.S. city New Yorkers are moving to: Miami, FloridaMiami's popularity among New Yorkers continues to rise and the Florida city landed the top spot of cities residents are thinking about relocating to. Alexander Spatari | Moment | Getty ImagesTop 10 U.S. cities New Yorkers are moving toMiami, Fla. Philadelphia, Pa. Stamford, Conn. Atlanta, Ga. Tampa, Fla. Boston, Mass. It is considered the most significant financial district outside New York City, according to the city's Chamber of Commerce.

Persons: Douglas, StreetEasy, Goldman Sachs, Alexander Spatari, Sean Pavone, it's, Ned Lamont Organizations: New, Yorkers, Elliot Management, Fla ., Washington D.C, Philadelphia, Comcast Corporation, Toll, Burlington Stores, Burlington Stores . Philadelphia, Istock, Getty Images, Bloomberg, U.S . Postal Service, Charter Communications, city's Chamber of Commerce ., Getty Locations: Miami, Florida, New, New York City, Manhattan, The City, Yorkers, Los Angeles, California, Tampa, Orlando, U.S, United States, South Beach, Little Havana, . Miami , Florida, Fla . Philadelphia, Pa . Stamford, Conn, Atlanta, Ga, Fla, Boston, Mass, Fla . Los Angeles, Calif, Washington, East Stroudsburg, Pa, New York County, Kings County, Brooklyn, Queens County, Queens, Philadelphia, The Pennsylvania, Burlington Stores ., Getty Images Stamford , Connecticut, Connecticut, New York City for Connecticut, Stamford, city's Chamber of Commerce . Stamford , Connecticut

☆ Wall Street shows ongoing frustration with an entertainment giant, sees gains ahead for 2 retailers
▼ + stars: | 2023-06-29 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

DIS YTD mountain Disney's year-to-date stock performance. Over the past 12 months, Disney's performance has been worse, falling nearly 8%. So, it's easy to understand KeyBanc's frustration with Disney's stock. TJX YTD mountain TJX Companies' year-to-date stock performance. AMZN YTD mountain Amazon's year-to-date stock performance.

Persons: Walt Disney, KeyBanc, Piper Sandler, Piper Sander, TJ Maxx, TJX, it's, we're, Jim Cramer's, Jim Cramer, Jim, Joe Raedle Organizations: TJX Companies, Disney, Management, Wall Street, Burlington Stores, Ross Stores, Marshalls, UBS, JPMorgan, Bloomberg, Federal Trade Commission, Amazon, Google, FTC, CNBC, Walt Disney World, Getty Locations: Orlando , Florida

☆ 10 things to watch in the stock market Thursday, including bank stress tests and a possible chip trough
▼ + stars: | 2023-06-29 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

U.S. banks go 23 for 23, passing this year's Fed's stress test, including Club names Wells Fargo (WFC) and Morgan Stanley (MS). KeyBanc downgrades Club name Disney (DIS) to sector weight from overweight (hold from buy) without a price target. Piper upgrades to neutral from underweight (hold from sell), Bank of America increases price target to $76 per share from $68. Piper Sandler initiates coverage on the off-price retailers, starting Club holding TJX Companies (TJX) with a buy-equivalent overweight rating and a $110-per-share price target. Cuts price target to $40 per share from $47.

Persons: Premarket, Wells, Morgan Stanley, KeyBanc, Sanjay Mehrotra, McCormick, Piper Sandler, Piper, Eli Lilly, Warren Buffett's Berkshire, Jim Cramer's, Jim Cramer, Jim Organizations: Dow, Nasdaq, Citi, Disney, Micron, Bank of America, Netflix, TJX Companies, Marshalls, Ross Stores, Burlington Stores, Pfizer, Credit Suisse, Occidental Petroleum, Warren, Warren Buffett's Berkshire Hathaway, Berkshire, Energy, Halliburton, HAL, JPMorgan, Jim Cramer's Charitable, CNBC Locations: Big, Maxx, HomeGoods

☆ This map shows where Bed Bath & Beyond stores are being replaced by other retailers
▼ + stars: | 2023-06-29 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

"In aggregate the Bed Bath & Beyond locations were some of the best that I've seen become available. The leases are for both Bed Bath & Beyond and Buy Buy Baby locations. Leases for the Buy Buy Baby outposts could be clawed back depending on what happens at an auction for the chain's assets, Bed Bath said in a court filing. Bed Bath raked in $24.41 million in all from the lease auction. A portion of those proceeds will likely go to unpaid rents at the locations and the rest will go to Bed Bath to pay the retailer's many creditors.

Persons: BURL, Bill Read, Read, Macy's, Noble, they'd, weren't Organizations: Burlington Stores, Burlington, Specialists, Target, CNBC, Factory, Barnes, Bed Locations: Burlington, America, , Florida, Concord , North Carolina, Bed Bath, Bath

☆ Kohl's shares jump as retailer reports a surprise profit
▼ + stars: | 2023-05-24 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

Kohl's shares spiked Wednesday as the struggling retailer posted a surprise profit and affirmed its full-year guidance while it chases a turnaround. Kohl's surprise quarterly profit comes after multiple quarters of disappointing sales and a sinking stock price. Since then, Kohl's has tapped its new CEO Kingsbury, former chief executive of off-price retailer Burlington Stores . That contributed to a big loss in Kohl's holiday quarter and weak outlook, which the Wisconsin-based company reiterated Wednesday. During the quarter, Kohl's had its strongest sales performance in February.

☆ As shoppers look for savings, Nordstrom hopes Rack stores can fuel its revival
▼ + stars: | 2023-05-12 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +9 min

The success or failure of the Nordstrom Rack turnaround effort could shape the company's future. Those chains such as T.J.Maxx , Ross Stores and Burlington Stores , have opened more stores and wooed new customers, driving higher foot traffic than Nordstrom Rack has seen. Nordstrom Rack stores outnumber the company's namesake stores, with 241 locations across the country, according to company filings. Nordstrom Rack stores accounted for more than 40% of new customers in 2022, CEO Erik Nordstrom said on the March earnings call. As it pins its growth hopes on the off-price locations, Nordstrom has turned Rack stores into e-commerce hubs, too.

☆ Bank of America details 3 retail stocks that have more than 20% upside as they benefit from mass closures of Bed Bath & Beyond stores
▼ + stars: | 2023-05-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

Bed Bath & Beyond is closing hundreds of stores this year after filing for bankruptcy. Another 360 Bed Bath & Beyond locations and 120 buybuy Baby locations are set to shutter their doors by the end of June. BoA expects these hot spots to be gobbled up by off-price retailers that have near-term plans to expand. TJX's HomeGoods subsidiary is a runner-up, with only 38% of BBBY stores being within a one-mile radius and 52% within two miles. Off-price retailers' store proximity to Bed Bath & Beyond store locations.

☆ This is the best off-price retailer to own in this shaky economic environment
▼ + stars: | 2023-05-03 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Analysts at a major Wall Street research firm see multi-year growth and share gains ahead for off-price retailers. Under this scenario, lower-income consumers will choose to spend their money at off-price retailers. The analysts like Ross Stores (ROST) best, and called Burlington Stores (BURL) high-risk, high-reward, with a multi-year turnaround story. Bank of America, in a note this week, emphasized that the off-price retailers, including TJX, will be eager to take over the additional closed Bed Bath & Beyond locations. Bottom line We're encouraged to hear from Bernstein that lower-income consumers might be ready to spend more at off-price retailers, leading the analysts to say they would view "Q1 off-price weakness as an entry point" into the stocks.

☆ Barclays downgrades a string of retail stocks as its hopes for a V-shaped recovery fade
▼ + stars: | 2023-05-02 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +3 min

Consumers across all income levels are pulling back on spending, according to a Barclays Capital promotions tracker, prompting analyst Adrienne Yih to downgrade a host of retail stocks. However, Yih said, the pace of sales and discounting suggests that this scenario — a V-shaped recovery — is now less likely. FIGS 6M mountain Barclays downgraded Figs shares to underweight from equal weight. Figs shares shed 6%, Canada Goose fell more than 5% and Victoria's Secret was down more than 3%. CPRI YTD mountain Capri shares have fall 31% since the year started.

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