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Bed Bath & Beyond did not take questions from analysts on its Tuesday conference call "in light of the ongoing review of strategic alternatives," said Susie Kim, head of investor relations. "It's definitely a cause for concern," said bankruptcy lawyer Daniel Gielchinsky, who does not represent Bed Bath & Beyond. Bed Bath & Beyond said it started cost reductions of about $80 million to $100 million across the business. Morningstar analyst Jaime Katz expects a Bed Bath & Beyond bankruptcy filing in the first half of 2023. The retailer reported a non-GAAP loss of $3.65 per share, wider than Wall Street's estimate of a loss of $2.23 per share.

☆ Abercrombie, American Eagle signal upbeat holiday-quarter sales
▼ + stars: | 2023-01-09 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Jan 9 (Reuters) - Abercrombie & Fitch Co (ANF.N) and American Eagle Outfitters Inc (AEO.N) issued upbeat holiday-quarter sales forecasts on Monday as consumers snapped up their winter wear during the peak shopping season. Shares of Abercrombie, which owns the Hollister label, jumped more than 9%, while American Eagle climbed about 3%. It projected fourth-quarter operating margin between 6% and 8%, up from a range of 5% to 7% estimated previously. American Eagle also said its fourth-quarter revenue and profit margins were tracking at the high end of its forecasts, benefiting from its decision to right-size inventory and a better-than-expected performance at its American Eagle label. Last week, department store chain Macy's Inc (M.N) projected holiday-quarter sales toward the lower end of its previous forecast.

☆ Nike sales may soar as discounts draw shoppers; margin squeeze looms
▼ + stars: | 2022-12-19 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Analysts are projecting a near 11% jump in quarterly sales as a bounce in its U.S. business may help overcome weakness in the China market. "While retailers were initially worried about the amount of Nike inventory being shipped, the consumer is showing up and buying the Nike brand," Credit Suisse analyst Michael Binetti wrote in a note on Friday. "Most retailers have been worryingly low on Nike inventory for 2 years and are just happy to have enough to drive their apparel & footwear categories at this point," Binetti said. Reuters GraphicsLockdowns in China in October and November are also expected to be a drag on its sales in the region for the second quarter. The company reported a 20% slump in Greater China revenue in the same period last year and a 16% fall in the prior quarter ended Aug. 31.

Nov 29 (Reuters) - Deal-hungry Americans snapped up everything from toys to electronics during the five-day long Thanksgiving through Cyber Monday shopping bonanza lured by steep discounts, sales data showed. Online toy sales on Cyber Monday jumped nearly eight-fold compared to an average day in October 2022, according to Adobe. Electronics sales rose about five-fold, while sporting goods, appliances and books also saw increases over 400%. Reuters Graphics Reuters GraphicsCyber Monday sales rose 5.8%, said Adobe, which analyzes purchases at 85% of the top 100 internet retailers in the United States. Overall global online sales for the cyber week hit an all-time high of $281 billion, according to data from Salesforce (CRM.N), while U.S. online sales gained 9% to $68 billion.

Consumers held out for better deals over the Thanksgiving weekend, even as retailers ranging from Target Corp (TGT.N) to Kohl's Corp (KSS.N) kicked off a holiday discount frenzy as early as October. "The Thanksgiving holiday shopping weekend is a tradition treasured by many American families ... As inflationary pressures persist, consumers have responded by stretching their dollars in any way possible," NRF President Matthew Shay said. In comparison, the number of people shopping online grew at a slower pace. "It is important to note that while some may claim that retail sales gains are the result of higher prices ... Data from Mastercard SpendingPulse, which measures in-store and online sales across all forms of payments, also showed on Tuesday that U.S. retail sales rose about 11% between Thanksgiving Day and Sunday.

☆ Dollar Tree cuts 2022 profit view again as inflation threatens margins
▼ + stars: | 2022-11-22 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

The increased footfall from discount-hunting shoppers helped the company lift its annual sales outlook and post a strong third quarter. An increase in prices at Dollar Tree banner stores to $1.25 from the traditional $1 supported margins during the period, but company executives said the lack of flexibility to adjust prices could lead to margin pressures in the short term. The price cuts, however, helped Family Dollar post its strongest quarterly same-store sales jump since 2020 and grow quarterly traffic for the first time in three years. Dollar Tree now expects annual per-share profit at the lower half of its previously estimated range of $7.10 to $7.40. The company raised its forecast for full-year net sales to between $28.14 billion and $28.28 billion, from $27.85 billion to $28.10 billion earlier.

☆ Home Depot gives 'mixed signals' with quarterly beat, dim holiday view
▼ + stars: | 2022-11-15 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Nov 15 (Reuters) - Home Depot Inc (HD.N) tapped higher prices to override a drop in customer transactions for the third quarter and left its annual forecasts unchanged, signaling a weak holiday season amid a housing market slowdown. The fourth quarter will be the weakest of the year for comparable sales, it said, amid mounting uncertainties around the housing market. Home Depot saw customer transactions fall 4.3%, but higher prices of lumber, copper and other building materials helped drive average ticket - or the average amount of sales per customer - 8.8% higher, offsetting some pressure. Net earnings increased to $4.34 billion, or $4.24 per share, while analysts on average expected a profit of $4.12 per share. Shares of the company reversed course to gain about 2%, after Walmart Inc (WMT.N) raised its annual sales and profit forecasts, sending retail stocks higher.

☆ Home Depot, Lowe's to see higher sales as owners remodel amid rising rates
▼ + stars: | 2022-11-14 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Wall Street analysts see the largest U.S. home improvement chains benefiting as rising interest rates encourage home owners to renovate existing properties rather than move on, while professional contractors have a backlog of work to clear. THE CONTEXTHome improvement chains saw sales and profits surge during the pandemic as Americans hunkered down at home revamped their living spaces. While demand is expected to cool, higher mortgage rates and home prices are providing a new reason for households to remodel their existing properties. "Home Depot and Lowe's no longer have the more captive consumer base they had throughout 2020. Yet consumers very much continue to spend on the home," said MKM Partners analyst David Bellinger.

[1/4] A signage is seen in the offices of Tapestry, Inc., in Manhattan, New York, U.S., November 19, 2021. Accessible luxury brands such as Michael Kors and Ralph Lauren are likely to feel a bigger pinch than higher-priced brands, as their young core customer base looks for deals at the lower end of the fashion spectrum. Ralph Lauren said its holiday quarter revenue would be hit by slowing demand in North America and Europe, where soaring energy costs are also pinching consumer wallets. Tapestry and Ralph Lauren also warned a stronger dollar would hit their earnings. Ralph Lauren shares, which have lost almost a quarter of their value this year, rose about 5% in premarket trading after the company beat second-quarter sales and profit expectations.

The once red-hot vaping company plans to lay off about 400 people and reduce its operating budget by 30% to 40%. The company said the investment would help Juul run its business operations, while it goes ahead with its administrative appeal of the U.S. Food and Drug Administration's marketing denial order related to its e-cigarettes. Last month, the Wall Street Journal reported Juul was preparing to file for Chapter 11 bankruptcy while searching for an alternative — such as a sale, investment or loan — that could stave off a filing. But following an appeal, the health regulator put the ban on hold and agreed to an additional review of Juul's marketing application. Reporting by Deborah Sophia and Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Nov 3 (Reuters) - Starbucks Corp (SBUX.O) topped Wall Street estimates for quarterly comparable sales and profits on Thursday, saying it will weather any coming recession by selling customized cold drinks through its rewards app to grow its ranks of younger, wealthier customers. Even so, wealthier people keep buying pricier food and drinks from Starbucks and Chipotle Mexican Grill Inc (CMG.N). Some analysts and investors have questioned how Starbucks can meet its global sales guidance of 7% to 9% growth for 2023, especially amid worsening economic conditions. Wall Street analysts expected Starbucks' comparable sales in China to drop by 20%, according to analysts at Gordon Haskett. read moreGlobal comparable sales at Starbucks rose 7% in the fourth quarter ended Oct. 2, while analysts on average had expected a 4.2% rise.

[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, New York, U.S., November 17, 2021. A strong dollar has hurt the overseas profits of large firms, while soaring inflation has prompted interest rate hikes and companies to raise product prices, even as consumers have been forced to cut spending. Google's results bode ill for Facebook parent Meta Platforms (META.O), which is especially reliant on advertising and reports results on Wednesday. Last week, its smaller rival Snap Inc (SNAP.N) forecast no revenue growth for the holiday quarter, setting off warning bells in the social media industry. Shares in Spotify (SPOT.N), which also warned on slow advertising growth, slid 4%.

[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, New York, U.S., November 17, 2021. Google's results bode ill for Facebook parent Meta Platforms (META.O), which is especially reliant on advertising and reports results on Wednesday. Microsoft fell 2% and chipmaker Texas Instruments , which forecast quarterly revenue and profit below estimates, was down 5%. Shares in Spotify (SPOT.N), which also warned on slow advertising growth, slid 4%. "During the quarter we experienced expected weakness in personal electronics and expanding weakness across industrial," said TI boss Rich Templeton.

The company can sell existing Yeezy Gap stocks until the sell-off period, the letter said. West, known as Ye, in 2020 signed a 10-year deal with Gap to create a line of clothing under the Yeezy Gap brand. 1/2 Rapper Kanye West talks on the phone before attending the Versace presentation in New York, U.S. December 2, 2018. Ties between West and Gap have been increasingly strained recently. Gap has been struggling to protect margins and pull in sales, blaming inflation and outdated styles at its Old Navy brand.

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