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☆ For investors looking for solid ground in an uncertain market, balance sheet is king
▼ + stars: | 2023-03-20 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

Amid ongoing market volatility and renewed fears about the health of the banking sector, investors and analysts are increasingly targeting the stocks of companies with stellar balance sheets. Note: The Altman Z-score is derived from a model initially developed in the 1960s by New York University professor Edward Altman as a way to predict bankruptcies. We used an Altman Z-score of 5 to focus our list on the cream of the crop. Tier 1 Capital ratios are generally a better metric for monitoring the balance sheets of big banks. But the market may give heightened attention to companies with strong balance sheets in times of elevated economic uncertainty.

To compound the problem, British shoppers are themselves starting to spend more in the European Union, where they can also reclaim the value-added tax (VAT) charged on goods. OWN GOALBurberry BRBY.L, Britain's biggest luxury retail brand, warned last year that London was losing out to other European cities over the VAT rule. "That's why tax-free was so important for them, and now we are the only country in Europe that doesn't offer it." Cadogan, the main landlord in the west London districts of Chelsea and Knightsbridge, whose estate spans over 90 acres, also called on the government to act. He said he had not considered the VAT issue before, because he was generally spending his parents' money.

☆ Nordstrom will cut about 2,500 jobs as layoffs creep into the retail world. Here's the full list of major retailers that have laid off workers in 2023.
▼ + stars: | 2023-03-13 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +4 min

Layoffs have started trickling into the retail sector, primarily impacting corporate employees. Still, few retailers are laying off store employees as the "labor hoarding" trend continues in 2023. Since the start of 2023, major retailers ranging from department stores to direct-to-consumer brands have cut staff, the latest swing in a sector that's been hit hard by labor challenges and inflation. Brian Ach/Invision for The RealReal/AP ImagesThe RealReal: The luxury consignment company cut 230 employees, about 7% of its workforce. Lidl: Around 200 US-based corporate employees were let go from the German grocery chain.

☆ Department Stores’ New Look: Going Small
▼ + stars: | 2023-03-03 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/department-stores-new-look-going-small-1de55463

☆ TJ Maxx says its assortment of discounted brands is better than ever thanks to store closures elsewhere. Here's how it keeps prices so low.
▼ + stars: | 2023-03-03 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +4 min

TJ Maxx sells products at 20% to 60% cheaper than department stores and retailers. TJ Maxx says its thriving because of this. A network of experienced buyersTech accessories on display at TJ Maxx. Buying in bulkThe massive selection of purses and handbags at TJ Maxx. Well-known brands like Ralph Lauren have been known to make items for TJ Maxx in the past, but pulled back in a bid to address worries about brand exclusivity.

☆ Macy's forecasts upbeat annual profit, shares surge
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +1 min

March 2 (Reuters) - Macy's Inc (M.N) forecast full-year profit largely above Wall Street estimates on Thursday, as the department store operator looks to cut back on promotions to protect its margins. The company said it expects adjusted full-year profit per share between $3.67 and $4.11, while analysts on an average had estimated $3.84, according to IBES data from Refinitiv. Macy's sees 2023 sales between $23.7 billion and $24.2 billion, compared to estimates of $24.29 billion. Consumers at the higher end of the income rung have shrugged off a hit to savings from stubbornly high inflation, helping boost sales at department stores like Macy's that mostly offer luxury and discretionary items. However, peer Kohl's Corp (KSS.N), which caters more to inflation-hit lower-income customers posted a surprise quarterly loss and forecast full-year profit well below estimates as deep discounts to boost demand shredded the retailer's margins.

☆ How a 34-year-old Ukrainian founder created scrappy business opportunities amid the chaos of war
▼ + stars: | 2023-02-25 | by ( Alexandra York | ) www.businessinsider.com time to read: +6 min

Alina Kachorovska has kept her business afloat thanks to scrappy opportunities amid the war. She's made boots for Ukrainian soldiers and focused on international expansion to sustain the brand. Kachorovska, which relied heavily on domestic direct-to-consumer sales before the war, felt a major impact from the displacement of Ukrainians. Opportunities during wartimeKachorovska employees worked from the factory to produce boots and shoes amid the war. Kachorovska first dreamed of taking her brand international six months before the war with Russia began, she said.

☆ T.J. Maxx and HomeGoods are reaping huge benefits from store closures and shopping slowdowns that are crushing other retailers
▼ + stars: | 2023-02-23 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

T.J. Maxx and HomeGoods are benefiting from the struggles other retailers are facing, parent company TJX says. Store closures and slowdowns mean there's more, better inventory for TJX brands to choose from. TJX is also seeing an influx of customers as competing brands close stores nationwide. Those struggles have led customers to flock to TJX chains, Herrman said. "We're attracting new customers, we're opening new stores, and we're likely to benefit from other home store closures," Herrman said.

☆ T.J. Maxx parent sees weak annual profit pressured by rising costs
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 22 (Reuters) - TJX Cos Inc (TJX.N) forecast annual profit below Wall Street expectations on Wednesday, as the off-price retailer's margins face pressures from persisting supply chain costs and surging inflation. However, TJX has continued to draw in shoppers as it managed to keep its prices lower than other retailers or department stores. The T.J. Maxx parent also posted better-than-expected fourth-quarter revenue, benefiting from bargain-hungry but brand-conscious customers turning to off-price stores during the holiday season. Analysts see TJX as one of the more well-positioned off-price retailers which is expected to gain market share in a weakening consumer discretionary environment. Reporting by Aatrayee Chatterjee and Ananya Mariam Rajesh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Off-price retailer TJX's quarterly results show strong demand. We're unconcerned by a softer profit outlook
▼ + stars: | 2023-02-22 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Bottom line It was an overall decent quarter for the off-price retailer, with total revenue, same-store sales and operating cash flow exceeding expectations. On the pretax margin, management expects lower freight costs, better buying and strategic retailing to result in an 80-basis-point to 100-basis-point tailwind that will more than offset the headwinds of "incremental wage and supply chain costs." Excluding this benefit, management expects to realize a pretax margin of 10% to 10.2% and earnings in the range of $3.29 to $3.41 per share. On a constant currency basis, sales at TJX Canada were up 10% year-over-year, while sales at TJX International — which includes operations in Europe and Australia — were up 11% annually. This excludes new stores, stores closed permanently or those closed for an extended period of time, as well as e-commerce.

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.

☆ Tech companies spoiled workers for decades. Now layoffs are bringing them down to Earth.
▼ + stars: | 2023-02-20 | by ( Asia Martin | ) www.businessinsider.com time to read: +8 min

The tech sector has already cut nearly 100,000 jobs this year. But for tech workers who were sold on the glamorous lifestyle these companies have provided over the last few decades, this is a blow to their self-image. It's unfortunate, Govindarajan said, but he added that these tech companies have disrupted other industries like photography, automobiles, and department stores. "There are many industries the tech sector disrupted where people got laid off. But now it's the turn of the tech sector itself," he told Insider.

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☆ Neiman Marcus and The RealReal are the latest to cut jobs as layoffs creep into the retail world. Here's the full list of major retailers that have laid off workers in 2023.
▼ + stars: | 2023-02-16 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +2 min

Still, few retailers are laying off store employees as the "labor hoarding" trend continues in 2023. Since the start of 2023, major retailers ranging from department stores to direct-to-consumer brands have cut staff, the latest swing in a sector that's been hit hard by labor challenges and inflation. Most of the cuts so far have impacted corporate retail employees. At a store level, many retailers are actually holding tighter to workers than usual, even seasonal employees, in a practice economists call "labor hoarding." Here are the retailers who have announced layoffs in 2023:The RealReal, founded in 2011, sells secondhand luxury clothing.

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☆ Jim Cramer's Investing Club meeting Monday: Caterpillar, Estee Lauder, Salesforce
▼ + stars: | 2023-02-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. (Jim Cramer's Charitable Trust is long CAT, EL & CRM. 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.

☆ Retail CEO crisis: With recent shakeups at Kohl's, Adidas, Dollar General, and more, the industry's top job is suddenly the hardest to fill
▼ + stars: | 2023-02-11 | by ( Matthew Kish | Avery Hartmans | ) www.businessinsider.com time to read: +8 min

It's the surest sign yet of a crisis facing the retail industry. Supply chains got snarled, shoppers stopped visiting stores, and stimulus payments spiked demand, each making it difficult to measure how business was doing. Then stimulus payments sent demand for everything from sneakers to home goods spiking while supply chains snarled. And just when supply chains started to sort themselves out, inflation hit, and shoppers started to scale back spending. Retail CEOs need 'peripheral vision'Workers at Starbucks stores and Amazon warehouses across the country have pushed to unionize, with many calling out the pay disparity between front-line workers and top executives.

☆ Clothing Companies Lean on Retailers to Help Ease Inventory Glut
▼ + stars: | 2023-02-10 | by ( Inti Pacheco | ) www.wsj.com time to read: 1 min

Several major apparel and accessory brands this week reported weaker sales, a sign that the industry is still struggling to address last year’s retail inventory glut and the prospect of weaker consumer spending. Companies have been discounting everything from Levi’s skinny jeans to Vans sneakers and reporting squeezed profits as a result. At the same time, department stores have been slower to replenish merchandise or canceled orders as consumer demand remains fragile and they address their own product glut, retail executives said.

☆ Neiman Marcus says it's only targeting ultra-wealthy customers who can spend around $27,000 a year at the retailer
▼ + stars: | 2023-02-10 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

Neiman Marcus is only going after millionaire shoppers who spend upwards of $27,000 there per year. Neiman Marcus was an early pandemic casualty, filing for then emerging from bankruptcy in 2020. He added that many Neiman Marcus' customers shop there 25 times per year. Like many of its fellow department stores, Neiman Marcus had operated an outlet chain, Neiman Marcus Last Call, where shoppers could find discounted designer wares. "We made a clear choice that we're going to do one thing and do it well," van Raemdonck said.

Younger shoppers snapping up its sweatshirts, knitwear and Polo line of products also drove results beat at luxury peer Ralph Lauren Corp (RL.N). "The Coach brand has done a lot of work to reposition itself as a premium brand that appeals to a younger consumer," Raymond James analyst Rick Patel said. "Tapestry appears to be executing better for its Coach brand than Capri is for Michael Kors," Patel added. Net revenue at Ralph Lauren rose 1% to $1.83 billion in the third quarter ended Dec. 31, beating estimates of $1.76 billion. Both Tapestry and Ralph Lauren took a hit in China due to a resurgence of COVID-19 infections, but demand is returning, the companies said.

☆ Tapestry lifts profit outlook as younger shoppers snap up Coach handbags
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

[1/2] A handbag is seen in a Kate Spade store, owned by Tapestry, Inc., in Manhattan, New York, U.S., November 19, 2021. Luxury peer Ralph Lauren Corp (RL.N) also beat expectations on strong demand from younger affluent shoppers. Meanwhile, Ralph Lauren said its brands gained market share in North America, even as its wholesale revenue decreased 2%. Net revenue at Ralph Lauren rose 1% to $1.83 billion in the third quarter ended Dec. 31, while analysts had expected $1.76 billion, according to Refinitiv IBES data. Tapestry forecast fiscal 2023 earnings of $3.70 to $3.75 per share, compared with its prior estimate of $3.60 to $3.70.

☆ Coach owner Tapestry raises annual profit forecast
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] A handbag is seen in a Kate Spade store, owned by Tapestry, Inc., in Manhattan, New York, U.S., November 19, 2021. REUTERS/Andrew Kelly/File PhotoFeb 9 (Reuters) - Luxury group Tapestry Inc (TPR.N) raised its annual profit forecast on Thursday, helped by resilient demand and its strategy to largely use company-owned stores and its website to sell Coach and Kate Spade bags. Shares of the company, which fell 4.5% on Wednesday following disappointing earnings and forecasts from rival Capri Holdings (CPRI.N), rose 2% in premarket trading. Total revenue fell 5% to $2.03 billion in the second quarter ended Dec. 31, in line with analysts' average estimate, according to Refinitiv IBES data. Reporting by Uday Sampath and Deborah Sophia in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

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