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☆ Here are Friday's biggest analyst calls: Rivian, DraftKings, Nio, Fox, Carvana, Pfizer and more
▼ + stars: | 2024-02-23 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

Here are Friday's biggest calls on Wall Street: UBS double-downgrades Rivian The firm said to sell the electric vehicle maker's stock, joining a growing group of concerned analysts following the company's earnings report. Raymond James upgrades Carvana The investment bank moved Carvana to market perform from underperform following the fourth-quarter earnings results. Guggenheim initiates Pfizer The firm opened coverage of the biopharmaceutical stock with a buy rating and $36 price target. " Rosenblatt initiates Adeia The firm began coverage with a buy rating and $15 price target. Roth MKM initiates CPI Card Group Roth MKM started coverage of the financial technology stock with a buy rating and $40 price target.

Persons: Ross, ROST, Raymond James, EBITDA, 4Q23, Guggenheim, ATNI, Morgan Stanley, Brighthouse, Rosenblatt, Roth MKM, Fred Imbert Organizations: UBS, Barclays, CNBC, Citi, Fox, JV, Ross, Price, Pfizer, DRG, Equitable, JPMorgan, Traction, JPMorgan downgrades Locations: 1Q24, Xperi, 4Q22

☆ The barbarians have arrived at Macy’s gate
▼ + stars: | 2024-02-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Macy’s rejected an unsolicited $6 billion bid from an activist investor to take the famed department store private last month. Now, the activist group is taking another shot at Macy’s, launching a proxy fight to take control of the board. Last month, Macy’s announced it was laying off about 3.5% of its workforce, or roughly 2,350 employees. Macy’s said Tuesday it will evaluate Arkhouse’s proposed board candidates, but criticized Arkhouse and another activist investor, Brigade, in a statement. Arkhouse did not publicly disclose its plans for Macy’s, but analysts believed it would sell off Macy’s valuable real estate and perhaps take other actions, such as spinning off its e-commerce business.

Persons: New York CNN — Macy’s, Macy’s, Arkhouse’s, Arkhouse, “ Arkhouse, ” Macy’s, Macy’s “ Organizations: New, New York CNN, Arkhouse Management, Brigade Locations: New York

☆ What’s So Special About a Rainbow-Check Scarf?
▼ + stars: | 2024-02-19 | by ( Misty White Sidell | ) www.nytimes.com time to read: +1 min

The rainbow-check pattern is hard to miss. It can be spotted on scarves in cities across the world, including some where temperatures rarely approach freezing. They are worn by various people and are as likely to be seen on subways as they are through the windows of chauffeured cars. The Swedish brand had been selling extra-long scarves for years before releasing the rainbow-check Vally, said Mattias Magnusson, Acne Studios’s chief executive. The scarf, he added, was inspired by a vintage chair upholstered in a plush, sorbet-plaid fabric.

Persons: Mattias Magnusson, Acne Organizations: Studios Locations: Swedish

☆ True Religion explores a sale as maximalist, Y2K-era styles make a comeback
▼ + stars: | 2024-02-15 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

The hedge fund that owns True Religion is exploring a sale of the Y2K-era jeans brand as it returns to growth and profitability after emerging from its second bankruptcy, CNBC has learned. It's unclear what valuation True Religion is seeking, but it could sell for a mid single digit multiple of its EBITDA, the people said. Farmstead Capital Management, True Religion's owner, has hired Baird to run the sale process. True Religion went public in 2003 and made headlines for its growth and profits. Buckley, who helmed the company during its 2000s heyday and returned in 2019, has transformed True Religion into a leaner machine.

Persons: Baird, Baird didn't, Juicy Couture, Jessica Simpson, Britney Spears, Neiman Marcus, Bloomingdales, Michael Buckley, athleisure, Buckley, Levi Strauss, Levi, Michael Kors, Ralph Lauren Organizations: CNBC, Farmstead Capital Management, Saks Fifth, Religion, Nike Locations: Angeles

☆ China's central bank encourages local businesses to accept foreign payment cards
▼ + stars: | 2024-02-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — China is encouraging banks and local businesses to accept foreign bank cards and is considering other steps to make mobile pay for international visitors even easier, said Zhang Qingsong, deputy governor of the People's Bank of China. "Banks and vendors (such as hotels, restaurants, department stores and even coffee shops) are encouraged to accept foreign bankcards," Zhang said. Shopping malls have increasingly preferred not to accept foreign credit cards. Last summer, the two dominant mobile pay apps WeChat and AliPay started allowing verified users to connect their international credit cards — such as those from Visa . "Now, when using Alipay or WeChat Pay, foreign visitors do not need to provide ID information if their total annual transaction volume is under $500," he said.

Persons: Zhang Qingsong, Banks, Zhang, that's, AliPay, Tencent Organizations: Beijing Capital Airport, Visa, Mastercard, People's Bank of China, CNBC, Mobile, Alibaba, Ant Locations: BEIJING — China, Beijing, China

☆ My parents are in their 70s and I'm almost 40. I'm only just now getting to know them outside a parent-child relationship.
▼ + stars: | 2024-02-04 | by ( Theresa Sam Houghton | ) www.businessinsider.com time to read: +5 min

However, now that they're in their 70s and I'm almost 40, I'm getting to know them as people. I appreciate who they are to me now outside of our parent-child relationship. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I go out for coffee with my dad at our favorite local spot and have long talks, adult to adult. Little by little, I'm finally learning to see the individuals my parents have become after a lifetime of experience.

Persons: I'm, —, Seuss, Mom, Dad, outdoorsman, whittle, he'd, doesn't, we've Organizations: Service Locations: Lincoln

☆ What Walmart’s new focus on employee stock could mean for the wealth of the average American household
▼ + stars: | 2024-02-03 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

Walmart is offering its store managers stock grants, which based on a manager's store format, can range between $10,000 and $20,000. It's not only managers that Walmart wants to encourage to buy into stock ownership. 1 employer, Walmart's decisions are likely to have significant ripple effects and could even lead to broader equity ownership among rank-and-file employees. Already companies such as Ingersoll Rand and Harley-Davidson have taken steps to broaden stock ownership to employees. "Stock ownership is a pillar of worker financial wellness."

Persons: John David Rainey, Chris Taylor, It's, John Furner, Doug McMillon, Biden, Marc Roloson, Aalap Shah, Pearl Meyer, Shah, Brian J, Albert H, Gordon, Stacey Kole, Ed Rataj, Michael Kestenbaum, Gallagher, Peter Follows, Kole, Ingersoll Rand, Davidson, Martin Whitman, Whitman, Pete Stavros's, Walmart's, Harvard's, WTW's Roloson Organizations: New York Stock Exchange, Walmart, International, NYSE, LinkedIn, Companies, Business Administration, Harvard Business School, The University of Chicago Booth School of Business, CBIZ, Carpedia, Harley, Just Locations: U.S

☆ Dual Mission for Macy’s New Chief: Revive Stores and Fend Off Takeover
▼ + stars: | 2024-02-02 | by ( Jordyn Holman | Lauren Hirsch | ) www.nytimes.com time to read: +1 min

As he prepares to take the reins as Macy’s chief executive on Sunday, Tony Spring has a tall order: He must contend with the existential crisis that mall-based department stores are facing to try to stay relevant in an increasingly e-commerce world. In December, an investor group submitted a bid that would take Macy’s private at a value of $5.8 billion. Mr. Spring, 58, has spent his career at Macy’s high-end store group, Bloomingdale’s. He started as an executive trainee in 1987 and rose through the ranks to become chief executive in 2014. He turned the chain into a “scrappy incubator” for ideas that were eventually brought over to Macy’s stores.

Persons: Tony Spring Organizations: Arkhouse Management, Brigade Capital Management

☆ Warren Buffett's Berkshire Hathaway is an epic turnaround story — and its latest deal looks a winner, expert says
▼ + stars: | 2024-02-01 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Warren Buffett's Berkshire Hathaway is the result of an incredible turnaround, Jacob McDonough said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe rise of Warren Buffett's Berkshire Hathaway is a remarkable turnaround story, a chronicler of the company's early days said. He was referring to Diversified Retailing, Blue Chip Stamps, and Berkshire, which was a textile company when Buffett acquired it in 1965. They shuttered Berkshire's floundering textile business in 1985.

Persons: Warren, Berkshire Hathaway, Jacob McDonough, —, Warren Buffett's Berkshire Hathaway, Chip Stamps, Buffett, Charlie Munger, Munger, McDonough, Kraft Heinz, Bryan Metzger, Pilot McDonough, Berkshire's Organizations: Berkshire, Service, England Textile, Chip, Apple, Travel Centers, Nike, Coke, Netflix, McDonough Investments Locations: Warren, Berkshire, England, Windsor Heights , Iowa

☆ With Aid Stalled, Ukraine Scrambles to Make Ends Meet
▼ + stars: | 2024-01-31 | by ( Andrew E. Kramer | ) www.nytimes.com time to read: +1 min

Strapped for cash as well as personnel and equipment for its war against Russia, Ukraine’s government says it has cobbled together financing to last several months without long-stalled aid from the United States and Europe. But further delays would trigger an all-but-certain economic crisis, officials and analysts say. Museums and theaters — as well as government research institutes and universities — could be forced to shut their doors. Restaurants, department stores and a host of other businesses currently remain open in Ukrainian cities away from the front line. But without enough financial aid, the ripple effects would quickly be felt across the economy, as the government runs out of cash to support a wide range of people and institutions.

Persons: Ukraine’s Locations: Russia, United States, Europe

☆ South Korea says number of North Korean defectors nearly triples in 2023, including ‘elite’ diplomats
▼ + stars: | 2024-01-19 | by ( Gawon Bae | Jessie Yeung | ) edition.cnn.com time to read: +4 min

Seoul, South Korea CNN —The number of North Korean defectors entering South Korea nearly tripled in 2023 compared to the previous two years, authorities said Thursday – including a higher number of youth and members of the North Korean elite. North Korea slammed its already tight borders shut in 2020, plunging the hermit nation into even greater isolation. Only 63 defectors entered South Korea in 2021, and 67 in 2022, according to government data. China, a close ally of Pyongyang, doesn’t consider North Korean defectors to be refugees, instead seeing them as illegal economic migrants. Once back in North Korea, defectors face possible torture, sexual violence, hard labor, imprisonment in political or re-education camps, or even execution by the North Korean state, according to activists.

Persons: ”, Kim, –, Kim Jong Un Organizations: South Korea CNN, North Korean, Korea’s Unification Ministry, Ministry, North, South, North Koreans, doesn’t Locations: Seoul, South Korea, North Korea, China, Russia, Pyongyang, North Korea’s, Laos, Myanmar, South Korean, Thailand, North, Korea, North Korean

After much preparation, the 12-year-old's small scene turned into a big problem among school officials in Wheatland, Wyoming. Located on the eastern Wyoming plains, Wheatland is a small farming and ranching community with about 3,500 residents. There are few restaurants, no department stores — not even a local Walmart — and few performance venues besides Wheatland High School. "Unless you’re super closed-minded, I don’t see why you would do that.”Drama coach Stephanie Bradley, who also attended the high school, challenged the decision. “Most people in this part of Wyoming don’t come out early," Bradley said of LGBTQ+ teens on the state's rural plains.

Persons: — Oliver Baez, ” Baez, Matthew Shepard, ”, Cassie Baez, Oliver, Lu Lay, John Weigel, hadn't, belittling, Baez, ” Weigel, Robert Daniel, ” Daniel, Erica Biggs, ” Biggs, Sara Burlingame, “, ” Burlingame, Melissa Rukavina, Stephanie Bradley, Bradley Organizations: University of Wyoming, Walmart, Wheatland High School, Platte County Players, Wyoming Equality, Hate, Gay and Lesbian Fund of Colorado, Prevention Locations: WHEATLAND, Wyo, Wheatland , Wyoming, Wheatland, Wyoming, . Wyoming, South Carolina, Platte, Cheyenne

☆ Macy’s is laying off workers and closing five stores
▼ + stars: | 2024-01-18 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

David McLane/NY Daily News Archive/Getty Images The first Macy's store, on New York's Sixth Avenue, is seen circa 1880. New York Times Co./Hulton Archive/Getty Images Workers sort parcels at a Macy's store circa 1942. Fritz Goro/The LIFE Picture Collection/Shutterstock Women show dolls to children at a Macy's store around Christmas in 1942. Fred Morgan/NY Daily News Archive/Getty Images The Radio City Rockettes march in the Macy's Thanksgiving Day Parade in 1966. Amy Sussman/AP Images for Macy's This Macy's store in West Palm Beach, Florida, was one of dozens of stores that the company announced it would be closing in 2017.

Persons: David McLane, Santa Claus, Fritz Goro, Bernard Hoffman, Rita Hayworth's, Nina Leen, Fred Morgan, Paul DeMaria, Jean, Erick Pasquier, Monica Almeida, Chris Hondros, Timothy Fadek, Andrew Craft, Eric Thayer, Eduardo Munoz, Andrew Kelly, Amy Sussman, Joe Raedle, Charles Krupa, Gary Hershorn, Macy’s Organizations: New, New York CNN — Veteran, CNN, Street Journal, Commerce Department, NY, The New, Historical Society, of Congress, Santa, Bettmann, . New York Times Co, Hulton, Getty, Keystone, Herald, Macy, City, Workers, Fayetteville Observer, USA, Reuters Shoppers, Reuters, Saxon Middle School Choir, Downtown Burlington High School, Corbis Locations: New York, ., France, Fayetteville , North Carolina, Bay Shore , New York, West Palm Beach , Florida, Burlington , Vermont, New York City, Santa Claus

☆ Premarket stocks: Airline stocks are getting pummeled. Here are four reasons why
▼ + stars: | 2024-01-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —It’s been a tough month for shares of airline companies. Here’s why investors are getting out of airline stocks. Boeing’s “can of worms”: Boeing’s problems began on Jan. 5, when the door plug on an Alaska Airlines Boeing 737 Max 9 detached mid-flight. Oil prices are volatile: Investors are also concerned about a possible spike in oil prices. United Airlines Holdings shares have declined 8% so far in January and American Airlines Group shares have fallen 6%.

Persons: New York CNN — It’s, Wells, “, Max, JetBlue’s, Patrick T, Fallon, Brent, Ed Bastian, Antony Blinken, CNN’s Jennifer Hansler, Bryan Mena, Read Organizations: CNN Business, Bell, New York CNN, NYSE, Alaska Airlines Boeing, Max, Boeing, Alaska Airlines, US Federal Aviation Administration, National Transportation Safety, FAA, ”, Spirit Airlines, JetBlue, Spirit, CNN . Spirit Airlines Airbus, JetBlue Airlines Airbus, Los Angeles International Airport, Getty, US Justice Department, Hawaiian Airlines, Hawaiian Holdings, US, . West Texas, Delta Air Lines, Delta, United Airlines Holdings, American Airlines Group, Blinken’s Boeing, Commerce Department Locations: New York, Washington, Boston, AFP, Iran, Yemen, Davos, Zurich, deplane

☆ US retail sales rose at a faster pace in December
▼ + stars: | 2024-01-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +1 min

Spending at US retailers rose 0.6% in December from the prior month, the Commerce Department reported Wednesday. That was a faster pace than November’s 0.3% gain, also beating economists’ expectations. Retail sales are adjusted for seasonal swings, but not inflation. Sales at department stores jumped 3% in December, the most of any category. Spending at car dealerships, clothing stores and online also increased at a solid pace last month.

Organizations: DC CNN, Commerce Department Locations: Washington

☆ Neiman Marcus CEO says there's ‘no need’ to sell the business as Saks takeover rumors swirl
▼ + stars: | 2024-01-10 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

ORLANDO, Fla. — As rumors swirl over whether Saks Fifth Avenue will acquire Neiman Marcus, Neiman's CEO told CNBC there's "no need" to sell the business, adding it's unlikely to change hands in the next five years. Some people close to the companies have told CNBC a merger between the two is inevitable, and is a matter of when, not if. But Neiman's CEO Geoffroy van Raemdonck said there is currently "no process to sell the company." Eventually, those owners will seek to offload the business, but van Raemdonck said it won't be any time soon. They have not yet received an offer that was large or attractive enough to move the needle, a source familiar with the matter previously told CNBC.

Persons: Neiman Marcus, Geoffroy van Raemdonck, there's, van Raemdonck, Neiman, There's Organizations: Saks, CNBC, Street, Pacific Investment Management, Davidson, Capital Management, Sixth Street Partners, Neiman, CNBC PRO Locations: ORLANDO, Fla, Orlando

☆ Here’s where the jobs are for December 2023 — in one chart
▼ + stars: | 2024-01-05 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

"After entering 2023 with a sonic boom, the US job market is headed into 2024 at a comfortable cruising speed," Bunker said. Bunker noted that just a few sectors – education and health services, government, and leisure and hospitality – accounted for more than 75% of the job growth in December. The public sector led the way last month with 52,000 jobs, overwhelmingly in local government, according to the Bureau of Labor Statistics. Job growth was strong in the sector throughout 2023, adding 55,000 positions a month on average compared with monthly gains of 46,000 in 2022. Social assistance positions rose by 21,000 in December, with jobs gains averaging 22,000 per month in 2023, slightly more than the 19,000 average monthly increase in 2022.

Persons: Bunker, Nick Bunker Organizations: North America, Bureau of Labor Statistics, Health, Employment, CNBC PRO Locations: U.S

Travelers are looking to cruises in 2024 because they are still cheaper than land-based alternatives. With occupancy levels approaching pre-pandemic levels, operators plan to hike prices in coming months. "Overall the market is extremely strong, especially the top end of the market in terms of the most high-end luxury cruises," said Bob Levinstein, CEO of cruise marketplace Cruise Compete. Even as travelers have canceled or postponed planned vacations to the Middle East, cruise bookings will still hit record levels in 2024, said Truist Securities analyst Patrick Scholes. Prior to the Oct. 7 attacks in Israel, industry-wide bookings for 2024 were about 25% higher than in 2019 for bookings in 2020.

Persons: Queen Mary, Andrew Kelly, Bob Levinstein, Patrick Scholes, Scholes, Jason Liberty, Josh Weinstein, Atle, Kari Dillon, Dillon, InteleTravel, Dave Spinelli, Ben Harrell, Granth, Marguerita Choy Organizations: Cunard Line, Carnival Corporation & plc, Brooklyn Cruise, REUTERS, Travelers, Truist Securities, Cruise Lines International Association, Royal Caribbean, Liberty ., Holdings, Cruisers, Thomson Locations: Brooklyn, Brooklyn , New York City, U.S, BENGALURU, Israel, Caribbean, Oslo, North Carolina, Florida, InteleTravel, Delray Beach , Florida, Royal Caribbean, Bengaluru, Doyinsola, New York

☆ A sale isn't worth it anymore unless you're getting 40% off
▼ + stars: | 2023-11-29 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

Many retailers are extending holiday shopping discounts to record levels and for longer periods. To get the best discounts, you might have to head to your nearest mall. To get the best holiday deals, you might have to go to the mall. That worked in the last few years but didn't this year because financially stressed consumers became even more cost-conscious and looked for the best deals, he added. "Retailers moved a lot of those sales earlier than usual, and then it became one big event culminating on Cyber Monday."

Persons: LSEG, —, Jharonne Martis, Martis, Centric Market Intelligence —, Howard Schnapp, Kraig Foreman, CNBC's, Foreman Organizations: Service, Adobe, London Stock Exchange Group, London Stock Exchange, Centric Market Intelligence, Getty, CNBC, Wall Street, Retailers

A view of the sign of Signa Holding on their headquarters in Vienna, Austria, November 6, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsVIENNA/FRANKFURT, Nov 29 (Reuters) - Property and retail giant Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, the biggest casualty so far of Europe's property crash. Signa blamed its problems on external factors affecting its property business and pressure on high-street shopping. Fuelled by low interest rates, billions were funneled into property, which was viewed as stable and safe. Weakness in commercial real estate in the United States as offices remain empty after the pandemic and the struggles of major property developers in China have focused global attention on the sector.

Persons: Leonhard Foeger, Rene Benko, Signa, Switzerland's Julius Baer, Hannes Moesenbacher, Matthias Inverardi, Rachel More, Madeline Chambers, Catherine Evans Organizations: Signa, REUTERS, Rights, Chrysler, Austria's Raiffeisen Bank, Thomson Locations: Vienna, Austria, FRANKFURT, Germany, Switzerland, Hamburg, Bavaria, Hesse, Europe's, United States, China

☆ Julius Baer declines to confirm Signa exposure
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Nov 29 (Reuters) - Julius Baer's Chief Executive declined to confirm on Wednesday whether the private bank's 606 million Swiss franc ($693 million) exposure it disclosed earlier this week is to toppled property giant Signa. The CEO said it was too early to say what specific lessons could be learned relating to the large exposure in its private debt business. Troubled property group Signa, which owns scores of high-profile projects and department stores, declared insolvency on Wednesday. Signa, controlled by an Austrian magnate, has borrowed heavily from banks including Julius Baer, which on Monday disclosed it had an exposure of more than 600 million Swiss francs, the largest in its private debt loan book, to a European conglomerate. "I believe Julius Baer will be able to continue its risk appetite and its risk capacity as we have on average in the last few years."

Persons: Julius Baer's, Philipp Rickenbacher, Julius Baer, Rickenbacher, Noele Illien, Elaine Hardcastle, Tomasz Janowski Organizations: Financial Times, Global Banking, Thomson Locations: ZURICH, Austrian

View of the construction site of the Elbtower building, owned by Rene Benko’s Signa and a Commerzbank subsidiary, in Hamburg Germany, November 2, 2023. On Friday, Signa Real Estate Management filed for insolvency in a local court in Berlin, according to a court filing. The real estate sector was a bedrock of Germany's economy for years, accounting for roughly a fifth of output and one in 10 jobs. Now a sharp rise in rates has put an end to the run, tipping some developers into insolvency as deals freeze and prices fall. Weakness in commercial real estate in the United States as offices remain empty after the pandemic and the struggles of major property developers in China have focused global attention on the sector.

Persons: Rene Benko’s Signa, Fabian Bimmer, Signa, Elliott, Rene Benko, Switzerland's Julius Baer, Hannes Moesenbacher, Matthias Inverardi, John O'Donnell, Miranda Murray, Sharon Singleton, Mark Potter Organizations: REUTERS, Rights, Elliott Investment Management, Chrysler, Estate Management, Austria's Raiffeisen Bank, Thomson Locations: Hamburg Germany, Austrian, Germany, Austria, Switzerland, Sweden, Berlin, Bavaria, Hesse, Hamburg, Europe's, United States, China

☆ Here were the biggest winners and losers from Black Friday
▼ + stars: | 2023-11-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Despite the seeming rush to shop, this Black Friday ushered in moderately higher promotions over last year and mixed in-store traffic, according to some Wall Street analysts. Black Friday winners Value-focused shopping destinations seemed to win big Friday, based on annual store checks from a slew of Wall Street shops. The Black Friday shopping extravaganza also ushered in some bullish sentiment toward Shopify . Black Friday losers Not every popular retailer seemed to kick off the holiday shopping period on a strong note. While Lululemon drove strong in-store traffic, helped in part by advertising use in Black Friday markdowns, Nike and Under Armour both showed higher promotions, said Piper Sandler's Abbie Zvejnieks.

Persons: Michael Lasser, Bradley Thomas, Thomas, Kohl's, Morgan Stanley, Alex Straton, Goldman Sachs, Kate McShane, JPMorgan's Matthew Boss, Piper Sandler's Korinne Wolfmeyer, Morgan Stanley's Keith Weiss, Bhavin Shah, shouldn't, Nordstrom, Straton, Lululemon, Armour, Piper Sandler's Abbie Zvejnieks, lululemon Organizations: Adobe Analytics, UBS, Walmart, KeyBanc Capital, Dick's Sporting Goods, Body, Deutsche, Eagle Outfitters, Nike Locations: U.S

☆ TJ Maxx and other discount retailers could be the big winners in an otherwise bleak holiday shopping season
▼ + stars: | 2023-11-26 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

Many retailers are bracing for a bleak holiday shopping season. AdvertisementShoppers are finally feeling the weight of inflation and many retailers are bracing for a bleak holiday season . The trade association said this year's outlook has returned to pre-pandemic levels, with an average annual holiday increase of 3.6% from 2010 to 2019. AdvertisementAnalysts say the positive same-store sales from quarter to quarter suggest that the off-price retailers are gaining market share. TJX stores, which include TJ Maxx and Marshalls, have become increasingly valuable for brands to supply to.

Persons: —, Rebecca Duval, Nordstrom, Ross, Bernstein, Aneesha Sherman, TJ, Simeon Siegel Organizations: Service, National Retail Federation, Fashion, Department, Nordstrom, TJX Companies, Burlington, Analysts, Yahoo Finance, TJ Maxx, Marshalls, BMO Capital Markets Locations: Ross, Burlington

[1/6] People load up their newly purchased items from Best Buy on Black Friday in Wheaton-Glenmont, Maryland, U.S., November 24, 2023. A record 130.7 million people are expected to shop in stores and online in the U.S. on Black Friday this year, the National Retail Federation (NRF) estimates. But at 6 a.m. on Friday at a Walmart in New Milford, Connecticut, the parking lot was only half full. "It's a lot quieter this year, a lot quieter," said shopper Theresa Forsberg, who visits the same five stores with her family at dawn every Black Friday. And the rise of online shopping has reduced the importance of Black Friday as a single-day event.

Persons: Leah Millis, Cowen, David Klink, Theresa Forsberg, Michael Brown, Kearney, Jeff Gennette, Jimmy Lee, there's, Bergdorf Goodman, Nordstrom, Oscar de, Carlos Araejo, Ruiz, It’s, ”, Paul Aheren, Puma, Siddharth Cavale, Helen Reid, Arriana McLymore, Katherine Masters, Andrew Hay, Bianca Flowers, Danielle Broadway, James Davey, Deborah Sophia, Miral Fahmy, Nick Zieminski, Frances Kerry Organizations: REUTERS, Shoppers, Huntington Private Bank, Walmart, Target, National Retail Federation, Garden, Insider Intelligence, Macy's, Adobe Analytics, Wealth Consulting, Amazon, Adobe, Nordstrom, “, Saks, Puma, Israel Football Association, IFA, Thomson Locations: Wheaton, Glenmont , Maryland, U.S, RALEIGH, N.C, New Milford , Connecticut, Paramus , New Jersey, Indianapolis, Israel, Palestine, United States, Dallas, Raleigh, Crabtree, Boston

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