DIRS.INFO The most relevant business & tech news

☆ Target citing crime for closing stores shows retailers are fighting an uphill battle
▼ + stars: | 2023-09-27 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +7 min

Industry experts say even a small increase in crime can have massive, cascading effects that cause retailers to close stores. And stolen items can have an outsized impact on store profitability, considering the razor thin profit margins many large retailers typically operate at. “Increasing store crime is another variable in play right now for retailers,” said Zak Stambor, senior retail & ecommerce analyst with Insider Intelligence. Organized retail crimeAt issue is a particular type of store theft that loss prevention experts classify as “organized retail crime” or ORC. Last month, Dick’s Sporting Goods warned that retail theft was damaging its business and would lead to lower annual profits.

Persons: New York CNN —, ”, Burt Flickinger, Zak Stambor, Jane Roh, Shawn Kelly, TJ, they’re, Read Hayes, criminologist, ” Stambor, Hayes, “ Organizations: New, New York CNN, Strategic Resource, Insider Intelligence, eBay, Facebook, Pennsylvania Liquor Control, Police, CNN, Philadelphia, Attorney’s Office, “, GS, Cheltenham Plaza, Pennsylvania Liquor Control Board, Dick’s Sporting Goods, TJX Companies, TJ Maxx, Goods, Nordstrom, Foods, University of Florida, Prevention Research Council, Walmart, Target, National Retail Federation, ”, Walgreens Locations: New York, Los Angeles, Chicago, Philadelphia, Cheltenham, Wyncote, Montgomery County, San Francisco

☆ Consumers are still spending on nice things, if they’re on trend
▼ + stars: | 2023-09-25 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +8 min

But they’re also rewarding the stores that are betting big on the right trends at the right time, for the right price. Mejuri: The Toronto-based jewelry retailer has intentionally positioned itself as a go-to destination for Millennials and GenZers for affordable fine jewelry. “When we founded the business, we wanted to redefine luxury and bring it a new experience within the fine jewelry industry,” said Masad. We just wanted to make fine jewelry part of everyday wear. We saw no reason for why there should be a barrier between fine jewelry and our customer.”He said Mejuri hasn’t wavered from that goal.

Persons: aren’t, they’re, ”, Jharonne Martis, —, Neil Saunders, Marshal Cohen, ” Abercrombie, Andrew Kelly, Saunders, Abercrombie, Fran Horowitz, Lulu, Circana’s Cohen, Noura Sakkijha, Majed Masad, Zach Hilty, Mejuri hasn’t, “ There’s, It’s, TJ, TJ Maxx, TJ Maxx's, David L, Ryan, Aaron Sorensen Organizations: New, New York CNN, Abercrombie, Fitch, “, CNN Business, TJ Maxx, TJ, Boston Globe, Lotis, Consulting Locations: New York, Toronto

☆ Here's a rapid-fire update on all 35 stocks in the Club's portfolio, including a new buy
▼ + stars: | 2023-09-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +12 min

Here's a rapid-fire update on all stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. But for investors who haven't bought into its steep pullback, it's reasonable to buy some shares at current levels around $146.50 each. Unless you believe inflation is going to keep raging, making Microsoft's price-to-earnings multiple too high, then this stock is a buy. Nvidia (NVDA): Investors who don't own Nvidia yet should use its recent weakness to start a position, Jim said. Pioneer Natural Resources (PXD): We decided to buy additional Pioneer shares Thursday as the stock fell more than 2%.

Persons: Jim Cramer's, Jim, Amazon, he's, could've, We're, Jefferies, it's, we'd, Dupont De Nemours, That's, Dupont, Danaher, Bob Iger, Estee Lauder, haven't, Locker, Marry Dillon, Leqembi, Eli Lilly's donanemab, Vimal Kapur, Eli Lilly, Mark Zuckerberg, Morgan Stanley, Morgan, we're, James Gorman, Oracle, Safra Catz, Elliott, Stanley Black, Decker, TJ Maxx, Wells Fargo, Wells, Wynn, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Web Services, Broadcom, Google, Bausch Health, Health, Caterpillar, Costco Wholesale, Costco, Coterra Energy, Coterra, Emerson, National Instruments, Ford, United Auto Workers, GE Healthcare, Honeywell International, Honeywell, Linde, LIN, Mounjaro, Meta, Microsoft, Nvidia, Oracle, Palo Alto Networks, Procter & Gamble, Natural Resources, Starbucks, Constellation Brands, Constellation, Elliott Management, TJX, Marshalls, Wynn Resorts, WYNN Locations: China, India, Dupont, Emerson, Meta, Beijing, HomeGoods

☆ Cramer identifies 'cracks' he sees in the market
▼ + stars: | 2023-09-06 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer told investors he sees "cracks" in the market, especially in the prospective earnings of some big name companies. He stressed that many of these cracks may be due to the time of year, with September being a historically down month for the market. Cramer noted cracks in the retail industry, highlighting the recent success of TJX , the parent company of TJ Maxx and Marshalls. Cramer stressed the cracks he sees in the auto industry, with the three leading U.S. carmakers potentially facing a strike. "The unions have a strike fund, which lasts a heck of a lot shorter than the pots of gold the auto companies have saved," Cramer said.

Persons: CNBC's Jim Cramer, Cramer, Wednesday's, TJ Maxx, TJX, Roz Brewer Organizations: Dow Jones, Nasdaq, Marshalls, Walgreens

☆ Stocks like Meta are ‘best positioned’ for a market correction
▼ + stars: | 2023-08-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

"In addition to gaining lending market share, management [is] laser focused on boosting credit card offerings, turning around the wealth management business and growing investment banking revenues," he said. "We think Meta is best positioned vs peers to capitalize on new spend in the industry given ramping Reels and Messaging monetization, easy comps, and increasing Advantage+ adoption," he said. Blackrock "Best positioned for rebalancings. ... We think Meta is best positioned vs peers to capitalize on new spend in the industry given ramping Reels and Messaging monetization, easy comps, and increasing Advantage+ adoption." We view TJX as a market share gainer that is well positioned to benefit from trade-down and reiterate our Buy rating.

Persons: Ebrahim Poonawala, Wells, Poonawala, BofA, Lorraine Hutchinson, TJ Maxx, Hutchinson, TJX, Justin Post, BLK Organizations: Bank of America, CNBC, Meta, TJX Companies, Investor, Facebook Locations: Bank, Blackrock, Wells Fargo, Basel

☆ Americans are shopping less. But the US economic engine is still humming
▼ + stars: | 2023-08-23 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

That’s important, because Americans’ spending on goods and services accounts for two-thirds of US gross domestic product. Historically, sluggish retail sales, credit card delinquency and even shoplifting have been signs of a dark cloud on the horizon. The question of credit card debt is another area where the nuance matters. And as a share of total credit card debt, it is relatively low. But Americans’ credit card debt is unquestionably rising.

Persons: CNN Business ’, New York CNN —, Macy’s, they’ve, Taylor Swift, Barbie, ”, Ubers, Covid, Taylor, Sarah Yenesel, Chris Rupkey, Leticia Miranda, That’s, TJ Maxx, Louis Navellier, they’re, Brett Ryan, —, Alicia Wallace, you’ll Organizations: CNN Business, New York CNN, Dick’s Sporting Goods, Nike, FwdBonds, Atlanta Federal Reserve, “, “ Retailers, Deutsche Bank, Walmart, Amazon, Federal Reserve, Bank of America Locations: New York

☆ We're adjusting our price target on TJX Companies following a stellar quarter
▼ + stars: | 2023-08-16 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

TJX Companies ' (TJX) stronger-than-expected fiscal year 2024 second-quarter results on Wednesday demonstrate the off-price retailer's ability to offer value to consumers no matter the economic climate, prompting us to raise our price target on the stock. Operating cash flow more than tripled analysts' forecasts, while same-store sales growth was double what analysts had predicted. As a result, we're raising our price target on TJX stock to $100 a share, up from $88. TJX YTD line TJX Companies (TJX) year-to-date performance. Notably, management said Wednesday that both comparable-store sales growth and customer traffic improved sequentially each month of its fiscal second quarter.

Persons: —, TJX, Jim Cramer's, Jim Cramer, Jim, Victor J Organizations: Refinitiv, Marshalls, Management, TJX, CNBC, TJ Maxx, Blue, Bloomberg, Getty Locations: Maxx, Canada, New York, U.S

CNN —Earnings season continues this week with Target, Walmart, TJ Maxx parent company TJX and other high-profile retailers set to release their quarterly results. That shift showed up in earnings results for retailers including Home Depot and Target earlier this year. US retail spending, which is adjusted for seasonality but not inflation, inched up in June but fell below economists’ expectations. Americans feel hopeful inflation is coolingAmericans are feeling more optimistic that inflation is trending down now and into the future. Consumer spending expectations ticked up from the month before but remain below levels seen during the past year, according to the report.

Persons: TJ Maxx, hasn’t, Christina Hennington, Doug McMillon, they’re, Matt Egan Organizations: CNN Business, Bell, CNN, Target, Walmart, TJ, Shoppers, Home Depot, Refinitiv, “, University of Michigan’s, Consumer, Federal Reserve Bank of New, Federal Reserve, AAA, Labor Locations: Federal Reserve Bank of New York, Russia, Saudi Arabia

☆ US retail spending picked up sharply in July
▼ + stars: | 2023-08-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

It was also the fourth straight month that retail sales increased. Retail sales, which are adjusted for seasonality but not inflation, rose 0.7% in July from the prior month, the Commerce Department reported Tuesday. Spending rose on nondurable items, such as clothing and sporting goods. Excluding spending at gasoline stations, retail sales rose 0.8% in July from the prior month. “Goods consumption is holding up even as services spending has taken up an increasing share of household’s wallets.

Persons: —, TJ Maxx, ”, Nikki Baird, Barbie, Taylor, Beyoncé, Taylor Swift, Gregory Daco, haven’t, Wells Organizations: DC CNN, Retail, Commerce Department, Commerce, Walmart, Target, Federal Reserve, Wall Street, Fed, “ Retailers Locations: Washington, EY

☆ This environment is built for TJ Maxx, says Fmr. Target Vice Chairman Gerald Storch
▼ + stars: | 2023-08-14 | 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 EmailThis environment is built for TJ Maxx, says Fmr. Target Vice Chairman Gerald StorchGerald Storch, Former Target Vice Chairman and Bill Simon, Former Walmart US CEO, joins 'Closing Bell Overtime' to talk retail earnings, the state of the consumer, inflation and more.

Persons: TJ Maxx, Gerald Storch Gerald Storch, Bill Simon Organizations: Walmart

☆ I visited Macy's, and saw how disappointing displays and customer service are hurting its sales
▼ + stars: | 2023-08-04 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

I visited the Macy's flagship store in New York City and tried on its new "On 34th" private label. The store appeared to be severely understaffed — no one helped me get a dressing room or at the register. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. "Macy's has a real problem with merchandising, both in terms of buying product, allocating product, and displaying product in a compelling way in its stores," retail analyst Neil Saunders told Insider. Saunders told Insider he's visited more than 50 Macy's stores across the country this year.

Persons: Macy's, TJ Maxx, Neil Saunders, Saunders, he's, Ralph Lauren Polo, Where's Waldo Organizations: Service, UBS Locations: New York City, Wall, Silicon, Manhattan

☆ I went to Five Below for the first time and it was immediately clear why Gen Z loves it
▼ + stars: | 2023-07-22 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

I visited a Five Below store in Maryland to see what exactly the store offers. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. I'd pass the retailer's stores in strip malls, but it wasn't immediately clear by looking at them what they sold. Both Gen Z as well as their parents, who are themselves millennials and Gen Xers, are Five Below's target shoppers, according to an investor presentation from May. I decided to check out a Five Below location for myself to see where the store fits into the broader retail world.

Persons: TJ Maxx, wasn't, Joel Anderson, Gen, Gen Xers, Jefferies, Alex Bitter Organizations: Dollar, Service, Jefferies Locations: Maryland, Wall, Silicon

But, as Jim Cramer said Wednesday stocks in other parts of the market have started to come "back from the dead." Here's a look at where we stand on these eight Club stocks, starting with the biggest gainer, Halliburton, and concluding with the eighth-best performer, TJX Companies. HAL 3M mountain Halliburton's stock performance over the past three months. CAT 3M mountain Caterpillar's stock performance over the past three months. TJX 3M mountain TJX Companies' stock performance over the past three months.

Persons: It's, Jim Cramer, Wells, Morgan Stanley, Wells Fargo, Elliott Management, Jim, STZ, Emerson, bode, Morgan Stanley's, Morgan, TJ Maxx, we're, TJX, Jim Cramer's, Jamie Schwaberow Organizations: Halliburton, HAL, Caterpillar, Nvidia, Constellation Brands, Emerson Electric, Coterra Energy, TJX Companies, CAT, Wells, Apple, Corona, Modelo, Constellation, Emerson, Morgan, Goods, CNBC, Workers, Halliburton Co, Anadarko Petroleum Corp, Bloomberg, Getty Locations: Wells Fargo, Wells, Dacono , Colorado, U.S

☆ TJ Maxx's and Marshalls' comparison prices aren't always what they seem
▼ + stars: | 2023-07-17 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

Off-price retailers TJ Maxx and Marshalls buy surplus inventory from department stores at discounted rates. Comparison prices convince shoppers that they are getting a good deal. Every product in TJ Maxx, whether it's a t-shirt or candle, has a recognizable tag attached. Paul Morigi/GettyThese comparison prices reinforce shoppers' confidence in their buying decisions, marketing professor Alexander Chernev told the Wall Street Journal in a recent video explaining TJ Maxx's strategy. In 2015 and 2018, two class-action lawsuits accused TJX of misleading customers with its comparison prices.

Persons: TJ Maxx, TJX, TJ, Paul Morigi, Alexander Chernev, It's, I'm Organizations: TJ Maxx, Marshalls, Service, TJX Companies, TJ, Wall Street, ABC Locations: Wall, Silicon, California, Florida

☆ 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

☆ Shopping platform Shein poised to take major U.S. market share. UBS thinks these companies will be hurt most
▼ + stars: | 2023-06-26 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Some big-name U.S. retailers could struggle as Chinese e-commerce company Shein gains ground in the country, UBS warned. "We believe SHEIN's momentum to continue, and the company could take major market share from US Softlines companies. Elsewhere, UBS data showed Shein was the second most-downloaded shopping app in the U.S. over the past month behind Temu.com. Nearly a quarter of those Shein shoppers said sales are not important to them, which is higher than average. Of typical clothing retailers, shoppers of Shein in the last three months were most likely to also shop at TJX Companies ' TJ Maxx during that period.

Persons: Jay Sole, Shein, Sole, Temu, TJ Maxx, Ross, There's, Nordstrom, — CNBC's Michael Bloom Organizations: UBS, Wall, Companies, Inc, Navy, Amazon, Walmart, Target Locations: U.S, Shein, American

☆ How our retail stocks are battling a rise in theft — and why they are set up to win
▼ + stars: | 2023-06-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

Many retailers are grappling with a rise in theft at their stores that is cutting into profits. Most losses were attributed to organized retail crime, employee theft and process-control failures. While theft is an industry-wide phenomenon, the shrink headwind appeared to have more of a material impact among discount retailers. Off-price retailer TJX Companies (TJX) also cited shrink as a headwind to gross margins in its latest results . At its stores, TJX has also made efforts to better secure expensive merchandise by putting it behind locked cases and using more innovative tagging.

Persons: —, hasn't, Jim Cramer's, Locker, Dana Telsey, TJX, Tom Nikic, Foot Locker, Nikic, Wedbush, Jim, Mary Dillon's, Rich Galanti, We've, Telsey, they're, Jim Cramer, Victor J Organizations: National Retail Federation, UBS, TJX Companies, Costco, Telsey Advisory, CNBC, TAG, Wedbush, Management, TJ Maxx, Blue, Bloomberg, Getty Locations: FL, New York, U.S

☆ An early holiday shopping forecast makes us glad we own two of the best retail stocks
▼ + stars: | 2023-06-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Americans are expected to spend less this holiday season and seek out discounts, according to a new CNBC survey of retail logistics managers. For example, Home Depot (HD) expects overall sales and same-store sales to each decline between 2% and 5% in fiscal year 2023. TJX YTD mountain TJX Companies YTD performance In a separate research note, JPMorgan said TJX is best positioned to capture consumer trade-down demand. "We have the two best retailers for the moment," Jim Cramer said during the Investing Club's June Monthly Meeting Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Mary Dillon, Cowen, Richard Galanti, TJX, that's, Jim Cramer, We're, Jim Cramer's, Jim, TJ Maxx, Prince George's, Chip Somodevilla Organizations: CNBC, Costco, CNBC Supply Chain Survey, Fed, Wednesday, Management, JPMorgan, Shoppers, TJ, Getty Locations: Maxx, April's, Prince, Hyattsville , Maryland

☆ Here’s our Monthly Meeting rapid-fire update on all 35 stocks in the Club’s portfolio
▼ + stars: | 2023-06-14 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. In fact, he named Disney as the best Club stock to gift to a young grandchild. CEO Jim Farley's focus on only making profitable cars and trucks will be put to the test in the current quarter. 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's, Jim, Apple's, there's, Bausch, Estee Lauder, Fabrizio Freda, Berenberg, he's, Jim Farley's, Ford, Locker, Foot Locker's, Mary Dillon's, Patience, we're, Vimal Kapur, Johnson, J, Eli Lilly, Eli Lilly's, Mark Zuckerberg, Morgan Stanley, We're, James Gorman, enabler, aren't, Scott Sheffield, Coterra, PXD, Jim said, Stanley Black, Decker, TJ Maxx, Wells Fargo, Charlie Scharf's, Scharf, Wells, Wynn, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Nvidia, Amazon Web Services, Bausch Health, Caterpillar, Costco Wholesale, Costco, Humana, Coterra Energy, Disney, Emerson, Emerson Electric, National Instruments, Ford, Management, GE Healthcare, Halliburton, HAL, Honeywell, Johnson, Linde, LIN, Meta, underwriters, Cava, Microsoft, Palo Alto Networks, Natural Resources, Procter & Gamble, Constellation Brands, Modelo Especial, U.S, TJX, Marshalls, Home Goods, Wynn Resorts, WYNN, Starbucks, Las, Jim Cramer's Charitable Locations: Asia, China, California, Mounjaro, Palo, Wells, Las Vegas, Macao

☆ Here's what earnings from industry rivals mean for two Club names
▼ + stars: | 2023-06-01 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

And that's what we care most about as investors in the cybersecurity industry since February, when we first took a position in Palo Alto . "We don't see the demand for cybersecurity slowing down.," Palo Alto CEO Nikesh Arora told CNBC Thursday. Palo Alto last week delivered a quarterly beat, while raising its full-year earnings guidance . We prefer Palo Alto over CrowdStrike for multiple reasons, including the former's profitability profile, its leading multi-platform approach and Arora's deft leadership. With ample growth still ahead, we're staying long Palo Alto.

Persons: Palo, Nordstrom, Macy's, Jeff Gennette, Gennette, Wednesday's, Erik Nordstrom, —, CrowdStrike, Burt Podbere, Podbere, Nikesh Arora, we're, Jim Cramer's, Jim Cramer, Jim, Daniel Acker Organizations: Nordstrom, TJX Companies, Palo Alto Networks, Marshalls, Palo, CNBC, Palo Alto, TJ Maxx, Bloomberg, Getty Locations: New York, U.S, Palo Alto, CrowdStrike, Peoria , Illinois

☆ A retailer just blocked 42,000 customers from its site for returning too many items. It could trigger a new wave of returns backlash.
▼ + stars: | 2023-05-25 | by ( Grace Mayer | Associated Press | ) www.businessinsider.com time to read: +3 min

Sweden-based online fashion retailer Bootz AB blocked 42,000 customers for returning too many items. Bootz's policy is part of a larger trend among retailers who are charging customers for making too many returns. While levying these measures against customers isn't new, shoppers are making more returns than ever before, Insider reported. Some retailers are now wanting customers to shoulder the cost of returns, by charging them fees to make those returns, Insider reported. Amazon, TJ Maxx, and Abercrombie & Fitch, are just a few brands that are charging customers who make online returns.

☆ Dollar Tree shares plunge after company misses on earnings, slashes full-year profit outlook
▼ + stars: | 2023-05-25 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Shares of Dollar Tree plunged more than 16% in intraday trading Thursday after the company fell short of Wall Street's earnings expectations for the most recent quarter and slashed its profit outlook for the full year. On an adjusted basis, the company reported earnings of $1.47 per share, falling below Wall Street projections. Dollar Tree, which runs its namesake banner and Family Dollar, has been in the midst of a turnaround after shuffling up its executive leadership and raising prices. While other value-oriented retailers, such as TJ Maxx , have seen promising results this retail earnings season, Dollar Tree has fallen short. Even with the companies low prices, Dollar Tree shoppers have been focusing their spending on essential items, which carry lower margins, over discretionary purchases.

☆ TJX Companies is taking note of what consumers are shopping for at closing Bed Bath & Beyond stores, as it looks to lure customers for its HomeGoods chain
▼ + stars: | 2023-05-18 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

It is looking at what categories were successful at nearby – and closing – Bed Bath & Beyond stores. The off-price giant has been called out frequently by analysts as being one of the key beneficiaries of Bed Bath & Beyond's recent demise. Herrman said it is "re-ranking" its assortment only at its HomeGoods stores that are located near to any closing Bed Bath & Beyond locations, rather than making broad changes across all of its network. It's not just TJ Maxx and HomeGoods that are teeing up for a Bed Bath & Beyond-related windfall, however. Amazon, Walmart, and Target are also in line to capitalize from these closures and have been slowly chipping away at Bed Bath & Beyond's market share for many years.

☆ Discount retail operator TJX shows it can deliver profits in a slowing economy
▼ + stars: | 2023-05-17 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Of course, as management noted Wednesday, they were also able to put the right items in the right stores at the right time. The operating environment undoubtedly remains uncertain for the retail industry, with consumers increasingly cost conscious amid a slowing economy. Quarterly results Fiscal first-quarter SSS rose 3% year-over-year, matching the high end of the 2% to 3% guidance range management provided the prior quarter. That was driven by a 5% same-store-sales increase at Marmaxx, a 1% increase at TJX Canada and 4% advance at TJX International. On a constant currency basis, sales at TJX Canada were up 3% year-over-year, while sales at TJX International — which includes operations in Europe and Australia — were up 5% annually.

☆ Stocks week ahead: SVB and Signature Bank execs are set to testify next week
▼ + stars: | 2023-05-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

The US Senate Committee on Banking, Housing and Urban Affairs is holding three hearings this coming week centered around the collapses of Silicon Valley Bank and Signature Bank in March. ET : Greg Becker, former chief executive, Silicon Valley Bank; Scott Shay, former chairman and co-founder, Signature Bank and Eric Howell, former president, Signature Bank. ET : Mark Bialek, inspector general, Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau; Paul Kupiec, senior fellow, American Enterprise Institute and more. Since then, the Federal Reserve and Federal Deposit Insurance Corporation have released reports detailing management missteps at SVB and Signature Bank, as well as federal regulators’ own mistakes in properly addressing red flags preceding the banks’ demises. A separate report from the Federal Reserve Bank of New York on Friday shows that American households are becoming increasingly frugal.

Search resuls for: "TJ Maxx"

25 mentions found