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☆ Costco and Sam's Club's smaller rival BJ's Wholesale will open more clubs in Southeast
▼ + stars: | 2024-03-27 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Similarly, club stores resonate with budget shoppers because they emphasize getting more for less. The smaller rival of Costco and Walmart -owned Sam's Club is just the latest warehouse club to share its goals for expansion. The company plans to open a dozen new clubs this fiscal year, including an already announced club in Louisville, Kentucky. Most of the Marlborough, Massachusetts-based retailer's clubs have been concentrated on the East Coast. BJ's Werner said the company's typical customer has an average household income of between $75,000 and $100,000.

Persons: Costco, BJ's, Bill Werner, Werner, Greg Melich, Melich, That's, BJ's Werner, it's Organizations: U.S, Research, Costco, Walmart, Sam's, BJ's Wholesale, Washington D.C, Evercore ISI, Kroger Locations: Burlington, Aldi, U.S, Maryville , Tennessee, Myrtle Beach , South Carolina, Palm Coast, West Palm Beach , Florida, Carmel , Indiana, Louisville , Kentucky, Midwest, Marlborough , Massachusetts, East Coast, Washington, Puerto Rico, Tennessee , Alabama, Indiana, Michigan

Elena Perova | Istock | Getty ImagesJust ahead of the holiday season, Walmart had encouraging news for inflation-weary shoppers: Prices on food and other staples were falling instead of rising. But the retail giant backpedaled this week, saying higher prices on many grocery items and household staples like paper goods have stuck. Food prices climbed 2.6%, fueled by a 5.1% jump in prices for food away from home, a category that includes restaurant meals and vending machine purchases. That gives their makers the ability to keep raising prices to mitigate higher costs, even as their volume drops. Even some of the biggest U.S. brands have signaled that consumers' tolerance of higher prices has worn thin.

Persons: Elena Perova, John David Rainey, Coke, James Quincey, Gregory Daco, airfares, Tyson, Fernando Fernandez, Arun Sundaram, Kraft Heinz, Chocolate, Hershey, Edward Jones, Brittany Quatrochi, Sundaram, Pringles, Kellanova, Heinz, Stefani Reynolds, Brad Thomas, CFRA's Sundaram, Thomas, Frederic J, Brown, Oscar Mayer, Greg Melich Organizations: Istock, Walmart, CNBC, Federal, Depot, Pew Research Center, Maine Foods, Unilever, Nestle, Bloomberg, Getty, Planters, Target, Kroger, AFP, U.S, PepsiCo, Frito, Evercore ISI Locations: Hershey , Pennsylvania, North America, Washington ,, Rosemead , California

☆ Walmart is in the early innings of a multi-year reacceleration, says Evercore ISI’s Greg Melich
▼ + stars: | 2024-02-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalmart is in the early innings of a multi-year reacceleration, says Evercore ISI’s Greg MelichEvercore ISI’s Greg Melich and Gordon Haskett’s Chuck Grom, joins 'Power Lunch' to discuss the bull case for Walmart.

Persons: Evercore, Greg Melich Evercore, Greg Melich, Gordon Haskett’s Chuck Grom Organizations: Walmart

☆ Evercore ISI says sell these two retail giants ahead of earnings on the shaky consumer
▼ + stars: | 2024-02-14 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Evercore is moving to the sidelines on Target and Walmart due to potentially weaker consumer spending. Housing costs remain high, the analyst said, which could hurt consumer spending. Shares of Walmart have ticked up roughly 7% from the start of the year, while Target stock has climbed more than 2%. Evercore maintains an in line rating on Target stock with a $156 per share price target, or about 7% upside. On Walmart, Evercore is standing by an outperform rating with a $182 per share price target, which represents roughly 8% upside.

Persons: Evercore's cautiousness, Greg Melich, Melich, Evercore, — CNBC's Michael Bloom Organizations: Target, Walmart, Evercore

☆ Evercore ISI's Greg Melich names these companies as his sleeper retail picks
▼ + stars: | 2023-11-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvercore ISI's Greg Melich names these companies as his sleeper retail picksGreg Melich, equity analyst at Evercore ISI, joins 'Power Lunch' to discuss retail earnings for Target and Walmart.

Persons: Greg Melich Organizations: Evercore ISI, Target, Walmart

☆ Home Depot leans on small projects to top estimates as big-ticket spending wobbles
▼ + stars: | 2023-11-14 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Americans have put big renovations and discretionary home-improvement projects on the back burner as they battle sticky inflation, higher interest rates and lingering caution around the economy. "We see great (customer) engagement... with smaller projects," CEO Ted Decker said on an earnings call. Per-share profit of $3.81 topped estimates of $3.76. "With continued pressure in certain big-ticket discretionary categories and a trend to smaller projects, HD took the conservative approach – which we agree with," Evercore analyst Greg Melich said. It now expects annual per-share profit to fall 9% to 11%, compared with a 7% to 13% slump estimated previously.

Persons: Lucy Nicholson, Ted Decker, Sarah Henry, Henry, Greg Melich, Deborah Sophia, Sriraj Organizations: REUTERS, U.S, Logan Capital Management, Home Depot, Thomson Locations: Los Angeles , California, Bengaluru

☆ As Target shutters some stores, retailer looks to prove it can grow and avoid new setbacks
▼ + stars: | 2023-11-13 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Melissa Repko | CNBCIn the Harlem neighborhood of New York City, Target 's first store to open in Manhattan has permanently shut its doors. This week, Target for the first time since the surprise store closures will update investors on its sales trends and efforts to overcome a string of challenges. Some other retailers, such as Nordstrom and Walmart , have also shut stores in major cities — though they have not specifically blamed theft. A bumpy ride for TargetFor more than a year, Target has endured rocky sales and stock performance. Target cut its full-year forecast in August, after already warning investors it expected lower sales than a year ago.

Persons: Melissa Repko, John Mulligan, Paul, Target's Mulligan, Greg Melich, They've Organizations: CNBC, NRF, Target, Nordstrom, Walmart, Evercore ISI Locations: Harlem, New York City, Manhattan, New York, Minneapolis, St, Chicago, San Francisco, Seattle, Portland

The firm upgraded shares to neutral from sell in a Wednesday note, and slightly increased its target price to $5.50 from $5. The firm upgraded the offshore drilling company to overweight from equal weight in a Thursday note and raised its price target to $106 from $84. The bank reiterated a buy rating on Disney with a $120 per share price target, or about 42% upside from Wednesday's $84.50 close. Bank of America's Jessica Reif Ehrlich also reiterated a buy rating on Disney, albeit with a $110 per share price target, which implies more than 30% upside. The bank initiated coverage of the electric vehicle giant with a reduce rating accompanied by a $146 per share price target.

Persons: Goldman Sachs, Ygal Arounian, — Brian Evans, Bud Light, Carlos Laboy, BUD, Brian Evans, EBITDA, Stephanie Yee, Parker, Banks, Parker Hannifin, Nicole DeBlase, Eddie Kim, Brett Feldman, Bank of America's Jessica Reif Ehrlich, Bob Iger's, Michael Montani, Greg Melich, — Fred Imbert, Tesla, Michael Tyndall Organizations: CNBC, Tesla, HSBC, ISI, Analysts, Citi, Anheuser, Busch InBev HSBC, Busch InBev, Middle America, InBev, BUD, JPMorgan, Montrose Environmental, Deutsche Bank, Barclays, Disney, Bank of America's Locations: China, U.S, North America, Montrose, 3Q23, EBITDA, Valaris

☆ Evercore ISI's Greg Melich names these five retailers as his top picks
▼ + stars: | 2023-10-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvercore ISI's Greg Melich names these five retailers as his top picksGreg Melich, Evercore ISI, joins 'Closing Bell' to discuss retail sales which came in hotter-than-expected.

Persons: Greg Melich Organizations: ISI

☆ Evercore ISI's Greg Melich is bullish on Costco. Here's why
▼ + stars: | 2023-09-21 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvercore ISI's Greg Melich is bullish on Costco. Here's whyGreg Melich, Evercore analyst, joins 'Power Lunch' to discuss his bullish stance on Costco ahead of its next earnings report.

Persons: Greg Melich Organizations: Costco

☆ Evercore ISI's Greg Melich is bullish on Walmart
▼ + stars: | 2023-08-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvercore ISI's Greg Melich is bullish on WalmartGreg Melich, equity analyst at Evercore ISI, joins 'Power Lunch' to discuss Walmart earnings as shares move lower, despite an earnings beat.

Persons: Greg Melich, Walmart Greg Melich Organizations: Walmart, Evercore ISI

☆ Buy this major retailer before it tops earnings and raises guidance this week, says Evercore ISI
▼ + stars: | 2023-08-14 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Walmart is on the verge of an earnings beat that could see the stock gain nearly 12%, according to Evercore ISI. The firm added the retail behemoth to its tactical outperform list with an updated $180 price target, up from $173. Walmart stock has added nearly 14% so far this year, and shares hit a 52-week high of $162.78 in trading Monday. WMT YTD mountain Walmart stock has climbed roughly 13.6% from the start of the year. He added that Walmart likely benefited throughout the quarter from the demise of Bed Bath & Beyond, while also picking off customers from peer retailer Target .

Persons: Greg Melich, HundredX, Melich, Michael Bloom Organizations: Walmart, ISI, FactSet

☆ Traffic momentum is key heading into retail earnings, say Evercore ISI's Greg Melich
▼ + stars: | 2023-08-11 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTraffic momentum is key heading into retail earnings, say Evercore ISI's Greg MelichGreg Melich, equity analyst at Evercore ISI, joins 'Closing Bell' to discuss expectations for retail earnings, signs of consumer strength in retail numbers and how Walmart is gaining share and winning customers.

Persons: Greg Melich Greg Melich Organizations: Evercore ISI, Walmart

The economy is showing signs of resiliency, which could mean big gains for some retail stocks. Analysts are also generally bullish on the stock with an average rating of overweight and a consensus price target implying upside of 46%. Target, meanwhile, trades at a relative valuation ratio of 0.70, with analysts on average expecting a 36% gain over the next 12 months. Other stocks that made our list include Bath & Body Works , Chefs' Warehouse , Signet Jewelers and Victoria's Secret . Bottom line: For investors looking to bet on a resilient economy, these stocks could be a way of doing it at a discount.

Persons: Greg Melich, Bud, Melich, Ulta Organizations: CNBC, InBev, Body, Chefs, Signet Jewelers

☆ Evercore ISI's Greg Melich expects the home improvement industry to be negative year-long
▼ + stars: | 2023-05-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvercore ISI's Greg Melich expects the home improvement industry to be negative year-longGreg Melich, Evercore, joins 'Closing Bell' to discuss Home Depot earnings and outlook and what it means for the retail sector.

☆ Housing slowdown becoming challenge for home improvement stocks, says Evercore ISI's Greg Melich
▼ + stars: | 2023-05-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousing slowdown becoming challenge for home improvement stocks, says Evercore ISI's Greg MelichGreg Melich, equity analyst for retailing and hardline at Evercore ISI, joins 'The Exchange' to discuss Walmart and Lowe's, a slowdown in existing home sales impacting home improvement stocks, Walmart's positive traffic trends, and retail earnings expectations.

☆ Quality over quantity: As population shrinks, these companies will benefit from a 'trade-up' effect
▼ + stars: | 2023-04-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

A big shift in consumer demand is coming as global population growth slows, and that means companies need to respond with more active approaches to generate outperformance, according to Evercore ISI. Historically, booming population growth, globalization and industrialization have supported economic growth, Julian Emanuel, the firm's senior managing director, wrote in an April 5 note. "Companies with higher value-added services and better quality will likely better capture market share than those relying solely on volume growth." "Consumer companies that focus on 'trade-up' categories and premiumization could benefit as middle-income discretionary spend continues to rise," Emanuel said. Meanwhile, McDonald's top six markets — including the U.S., U.K. and France — are all experiencing slowing population growth.

☆ Evercore ISI upgrades says it's time to buy this retail giant on improving traffic trends
▼ + stars: | 2023-03-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Evercore ISI thinks it's time for investors to consider scooping up shares of Walmart . Analyst Greg Melich upgraded the retail stock to outperform from in-line, citing normalizing inventory and improving traffic trends. "The traffic turn appears to be building, and with consumers across the demographic spectrum making wallet allocation choices after several years of record nominal retail spending, Walmart is poised to regain share." "We might be early, as the April analyst day could pose a risk if management tries to bludgeon the Street to their guidance range," Melich wrote. "That said, with traffic momentum and margin expansion likely amidst a decelerating Retail world we like Walmart's scale, balance sheet and stability."

☆ Walmart store locations appear positioned well for consumer environment, says Evercore's Greg Melich
▼ + stars: | 2023-03-30 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalmart store locations appear positioned well for consumer environment, says Evercore's Greg MelichEvercore's Greg Melich joins 'Closing Bell' to discuss slowing U.S. consumption levels, Walmart's strength against competitors, and the rationale behind Evercore's Walmart upgrade.

☆ Watch CNBC's full interview with Evercore Analyst Greg Melich
▼ + stars: | 2022-11-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Evercore Analyst Greg MelichGreg Melich, Evercore ISI analyst, joins 'Squawk on the Street' to discuss retail earnings numbers, softening discretionary spending in retail, and continued consumer interest in budget stores.

☆ Retail earnings reveal a mixed picture
▼ + stars: | 2022-11-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRetail earnings reveal a mixed pictureEvercore Analyst Greg Melich joins 'Squawk on the Street' to discuss retail earnings numbers, softening of discretionary spending in retail, home improvement demand spikes, and the continued consumer interest in budget stores.

☆ Analysts see one retailer winning this holiday and taking share as Target struggles
▼ + stars: | 2022-11-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

In contrast, Target reported an earnings miss Wednesday, with profit that fell by about 50% in its fiscal third quarter. "General merchandise softness continues to be linked to Covid-winner categories (CE, home, and apparel basics), although the category's performance also improved sequentially." Walmart's general merchandise sales fell at a low-single digit pace, its chief financial officer, John Rainey, said on the earnings conference call Tuesday. For Target, the softness in general merchandise is taking its toll. The retailer has made some progress clearing through its excess inventory, but the fiscal thir quarter brought higher-than-expected markdowns, Target said.

☆ Here are Wall Street analysts’ favorite retail stocks as giants such as Target get set to report
▼ + stars: | 2022-11-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

Boots seller Boot Barn made the cut, with 83% of analysts covering it giving the stock a buy rating. Target also made the list, with 59% of analysts rating it a buy and an average price target implying upside of about 17%. The retail giant's stock has dropped more than 25% in 2022, but it has rallied 16.8% in the fourth quarter. Seventy-one percent of analysts covering the stock rate it a buy, and the average analyst price target implies upside of 41.4%, FactSet data shows. Nearly 80% of analysts covering the e-commerce giant rate it a buy, with the average price target implying upside of 41.6%.

☆ Evercore ISI downgrades Best Buy as consumer electronics market comes under pressure
▼ + stars: | 2022-10-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Expect little upside to shares of Best Buy in the near term as deflation returns to consumer electronics, Evercore ISI said. "In other words, two years of counter-normative inflationary support is now rolling off, and comes at a time when traffic is falling," Melich said. Along with the downgrade, Evercore trimmed its price target on the stock to $70 from $80 a share, reflecting a 5% upside from Tuesday's close. Shares are down 34.5% this year and sit more than 53% off their 52-week highs. "BBY is a well-managed company facing a compressing discretionary market unlikely to see much improvement into 2023," Melich wrote.

☆ Lowe's downgraded at Evercore ISI, cites slowing home improvement demand
▼ + stars: | 2022-10-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

A slowdown in home improvement demand could spell trouble for Lowe's future growth outlook, Evercore ISI says. "Our downgrade is based on the view that slower [home improvement] demand and disinflation could push comps lower in 2023, making margin gains muted," Melich said. In the home improvement market, Evercore ISI views shares of Home Depot more attractively, given that retailer's Pro business and exposure to contractors and professionals. Lowe's shares have slumped about 25% this year (vs a 30% loss at Home Depot). Despite a tricky outlook ahead, Evercore ISI expects Lowe's to benefit from damage brought about by Hurricane Ian.

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