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"In the more recent macro environment, consumer demand has been even more uneven and difficult to predict," Best Buy CEO Corie Barry said. U.S. holiday sales are expected to rise at its slowest pace in five years, according to data from the National Retail Federation, as Americans are likely to pull back on holiday shopping. REUTERS/Bing Guan/File Photo Acquire Licensing RightsLast week, industry bellwether Walmart (WMT.N) warned of cautious consumer spending as the holiday shopping season gets underway. Retail executives said higher interest rates, inflation and a resumption in student loan repayments will keep consumer wallets under pressure. Still, some investors expect holiday sales starting Black Friday to hold "some positive surprises."
Persons: Corie Barry, Bing Guan, Fitch, David Silverman, Marvin Ellison, Thomas Hayes, Rachel Wolff, Ananya Mariam Rajesh, Savyata Mishra, Granth Vanaik, Juby Babu, Shounak Dasgupta Organizations: National Retail Federation, REUTERS, Walmart, Retail, Apparel, Abercrombie, Fitch, American Eagle Outfitters, Insider Intelligence, Thomson Locations: United States, SoHo, New York City, U.S, Bengaluru
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGLOBALT Investments' Keith Buchanan on his top stock picks: WMT, LLY, JPMKeith Buchanan, GLOBALT Investments senior portfolio manager, joins 'Squawk Box' to discuss his top stock picks, including Walmart, Eli Lilly, and JPMorgan Chase.
Persons: Keith Buchanan, JPM Keith Buchanan, Eli Lilly Organizations: GLOBALT Investments, Walmart, JPMorgan Chase
Monte Paschi rebirth is vindication for Rome
  + stars: | 2023-11-21 | by ( ) www.reuters.com   time to read: +2 min
REUTERS / Jennifer Lorenzini Acquire Licensing RightsMILAN, Nov 21 (Reuters Breakingviews) - Italy’s privatisation of bailed-out lender Banca Monte dei Paschi di Siena (BMPS.MI) may finally be on the right track. The sale price was nearly 50% higher than last year’s high-stakes 2.5 billion euro capital increase, which cost taxpayers 1.6 billion euros. Rome took advantage of a near-30% rally in Monte Paschi’s shares during the month leading up to the sale. Granted, Rome will never recoup the around 5.4 billion euros it burnt to save Monte Paschi in 2017. Two years ago, interest rates were low and Monte Paschi's recovery seemed a distant prospect.
Persons: Jennifer Lorenzini, Siena, Monte Paschi, Andrea Orcel, Lisa Jucca, Banks, Liam Proud, Streisand Neto Organizations: REUTERS, Reuters, Banca Monte dei, Treasury, X, Walmart, Thomson Locations: Monte dei, Siena, Italy, Rome, Monte Paschi’s, Monte
Best Dyson Black Friday Sales & Deals 2023
  + stars: | 2023-11-20 | by ( Nick Guy | ) www.wsj.com   time to read: +3 min
But parsing through the product lineup—with its many models and variations—can be confusing, especially when you’re trying to take advantage of holiday sales. Here are the Dyson Black Friday deals that are worth shopping this year. VacuumsWe ranked the V15 Detect as the best overall cordless vacuum after our hands-on testing and comparing it to other highly regarded models. The Outsize+ (not to be confused with the Outsize Plus) is another one of our favorite cordless, stick-style vacuums. HumidifierOur research and testing proved that the Dyson Purifier Humidify+Cool Formaldehyde is the best premium humidifier.
Persons: Nick Guy Dyson, Dyson, Vacuums, you’ve, that’s Organizations: Amazon Locations: Japan
[1/8] Waste from international clothing brands is stored before being used to fuel kilns at a brick factory on the outskirts of Phnom Penh, Cambodia November 17, 2023. It found pre-consumer garment waste including fabric, plastic, rubber, and other materials from the brands was being burned at seven factories. The factories were burning garment waste to save on fuel costs, it said. Brick factory workers reported regular migraines, nosebleeds, and other illnesses, the UK report said. LPP said it was unaware its textile waste was being burned in brick kilns, and has contacted its agents responsible for placing orders in Cambodia.
Persons: Lululemon, Co's, Betty, Tilley Endurables, Armour, Lidl, LICADHO, LPP, Tilley, Clare Baldwin, Helen Reid, Katherine Masters Organizations: Cambodian League, Promotion, of Human, REUTERS Acquire, Adidas, Walmart, The Cambodian League, of Human Rights, Reuters, UNDP, Royal Holloway, University of London, Navy, Lidl Stiftung, Reebok, Venus, World, Cambodian Ministry of Environment, Sarom Trading, Thomson Locations: Phnom Penh, Cambodia, Cambodian, Kandal
By Buy Side StaffThe Buy Side staff shops for a living, which also means we spend an inordinate amount of time scrutinizing gift options. To help you shop for nice prices, we limited our list to our favorites that are on sale now for Black Friday. She asked for compression socks, so I’m buying her these pretty ones in blue chevron to help her with recovery. It would make a great gift for a college student, new grad or really anyone who could use a travel gear upgrade. It’s a great set to update your kitchen or give as a gift this holiday season.” —Emily Welsh, VP and general manager
Persons: We’ve, cocotte, Staub, , Astrid Stawiarz, Nick Guy, ” — Ian Salisbury, Cashmere hoodie, I’ve, Jessica Woodbury, PJs, ” — Emily Welsh, Charming, Madeline Diamond, ‘ Broom ’, I’ll, Samantha Sharf, Mario, , Cozy, she’s, ” — Leslie Yazel, it’s, Susan “, Susan, Anaya, There’s, we’ll, Philip Asquith, It’s, ” — Bellamy Richardson, Buddy, I’m, nutcrackers, ” — Aly J, they’re, Brittany Nguyen Organizations: Side, Black, Bluetooth, Apple, PlayStation, Mario Kart, New, Olive Oil, Amazon, Yale, Walmart Locations: Naadam, New York City, Los Angeles, Olive, Ojai , Calif, Europe, The
Cooking the perfect turkey is hard enough on its own without worrying about stuffing, cranberry sauce, casseroles and mashed potatoes. By the time dessert rolls around, the thought of making pie dough, blending a pumpkin pie filling and baking it to perfection can feel like a bridge too far. But if you want to outsource dessert to a supermarket near you, you'll need to choose from countless options. CNBC Make It tried a quintet of pies from a variety of national and regional chains to determine the best store-bought option. Staffers were asked to sample pie from the following five chains and select their favorite.
Organizations: CNBC, Wholesale, Costco Walmart
Hashtag searches for dupes of major brands - including Skims underwear and Deckers' (DECK.N) Ugg boots - have been viewed millions of times on TikTok. Graphic shows pictures of four original products and their original prices under named brands compared with the prices of their 'dupe' counterparts. Newer technologies like the Google Lens app allow people to take photos of items they like and find similar products for sale. In other cases, dupe sellers opt to replicate the look of higher-priced originals with cheaper materials to maximize profit. However, experts say dupe sellers have grown increasingly skilled at avoiding brand logos and other design features that could infringe existing patents or copyrights.
Persons: Lauren Maginness, Shannon Stapleton, Maginness, Estee, Tom Ford, Dupes, , , Penny Pincher, Leslie Ghize, Doneger Tobe, Calvin McDonald, Ian Taplin, Juozas Kaziukenas, Kaziukenas, Maria Boschetti, Mike Scheschuk, Birkenstock, Katherine Masters, Dorothy Kam, Vanessa O'Connell, Rod Nickel, Matthew Lewis Organizations: REUTERS, Abercrombie, Fitch, Scout, Walmart, Department, Nordstrom, Circana Inc, COMMERCE, Wake Forest University, eBay, Google, HK, Amazon, New, Thomson Locations: New York City, U.S, Hong Kong, TikTok, Los Angeles, Zara, Italy, New York
Analysts attended earnings calls in the third quarter armed with questions for healthcare and consumer companies about the potential effect on their sales from the growing popularity of these drugs, known as GLP-1 agonists. A Reuters analysis of earnings transcripts for the third quarter showed "GLP-1" or alternatives like "obesity" or "weight-loss medications" were mentioned 256 times across 29 U.S. and European healthcare and consumer companies. That's more than double the mentions for the second quarter, when those phrases came up 127 times. While some consumer companies have talked about factors such as fewer calories being consumed, "these kind of large extrapolations" seem to be a bit of a stretch, said BMO Capital analyst Evan Seigerman. For big pharma manufacturers like Pfizer (PFE.N) and Amgen (AMGN.O), analyst questions were aimed at their obesity drug candidates.
Persons: Lilly, George Frey, Jeff Jonas, it's, Eli Lilly's, John Furner, Mondelez, Eli Lilly, Evan Seigerman, LVMH, Rajesh Kumar, Jonas, Bhanvi Satija, Savyata Mishra, Arpan Varghese, David Gaffen, Shounak Organizations: Novo Nordisk, Pharmacy, REUTERS, Gabelli, Novo, Walmart, Walmart U.S, Hershey, Truist Securities, Krispy, BMO Capital, Danish, pharma, Pfizer, Devices, HSBC, Thomson Locations: Provo , Utah, U.S, United States, Novo, Bengaluru
Much of the gains in the S & P 500 this year can be attributed to the "Magnificent Seven" stocks. The S & P 500 has rocketed nearly 19% in the year to date. His 2024 price target for the S & P 500 is 4,500. But, he said, "There's going to be … a very good stock picking opportunity, probably away from those seven [stocks] … where there should be more opportunities in the 493." "In today's volatile interest rate environment, we see this cohort offering a balance of relative performance stability along with attractive growth properties," Morgan Stanley said.
Persons: Mike Wilson, Morgan Stanley, CNBC's, Wilson, they've, , we're, we've, barbells, Eli Lilly, Morgan Organizations: Apple, Microsoft, Nvidia, Tesla, Morgan, Microsoft Tech, Keysight Financial, Visa, Mastercard Consumer, Marriott International Pharmaceuticals, Walmart, Costco . Utilities, DTE Energy, Exelon Corporation . Energy, ConocoPhillips, Marathon Oil, Valero Energy Locations: U.S, Morgan Stanley Asia, Singapore
Chick-fil-A began testing drone delivery in Texas and North Carolina last year. Retailers and restaurants testing drone service include Walmart, Amazon, and Jersey Mike's. Chick-fil-A restaurants in Granbury, Texas, and Durham, North Carolina, have been testing drone deliveries since September 2022. AdvertisementIn Florida, customers within the restaurant's drone drop zone can order delivery by drone through the Chick-fil-A app. Drone delivery is still experimental in the US but is catching on among top retailers and restaurant chains.
Persons: , Chick, Cane's, Papa Organizations: Florida . Retailers, Walmart, Amazon, Service, Papa Johns , Jersey Mike's Subs, Cream, Little Caesars, Starbucks Locations: Texas, North Carolina, Florida, Jersey, Brandon, Granbury , Texas, Durham , North Carolina, Virginia Beach , Virginia, Tel Aviv, Papa Johns , Jersey, Little, Southern California, California, California , Texas
The hot word for CEOs on earnings calls is 'choiceful'
  + stars: | 2023-11-20 | by ( Amelia Lucas | ) www.cnbc.com   time to read: +4 min
So far in 2023, choiceful has appeared in 15 quarterly earnings calls for S&P 500 companies, according to a CNBC analysis of FactSet transcripts. In 2021, only the CEOs of Molson Coors and McCormick said "choiceful" when speaking to investors on their quarterly conference calls. But the Oxford English Dictionary notes the earliest known use of the word in the late 1500s. These days, CEOs have used it to describe a consumer whose behavior has changed over the last two years. That's where "choiceful" comes in handy again.
Persons: Doug McMillon, choiceful, That's, McCormick, Laxman Narasimhan, it's, Ralph Lauren, Patrice Louvet, Molson Coors, Gavin Hattersley, we've, McDonald's Kempczinski Organizations: Walmart Inc . Corporation, Automation, Innovation, CNBC, Molson Coors, Webster, Oxford English, Consumers Locations: Washington , DC, Merriam, McDonald's
Police in Beavercreek, Ohio, said they responded to the shooting and that there was no was longer any threat to the public. Witnesses on social media said the shooter opened fire with an assault rifle. Another witness on social media described the shooter as a "tall, young white guy" carrying an Army bag. "My nerves are shot right now," she said. Soin Medical Center received three patients from the shooting, WHIO said, citing a hospital spokesperson.
Persons: WHIO, Daniel Trotta, Gerry Doyle Organizations: Reuters, Ohio Walmart, Police, Pictures, Soin Medical Locations: Ohio, Beavercreek , Ohio, Dayton
This year, holiday spending during the Thanksgiving week may hit a record as consumers try to maximize the weekend's deals, according to a 2023 Deloitte Black Friday-Cyber Monday survey. Spending over the week is expected to jump 13% from last year, with shoppers shelling out $567 on average, Deloitte found. Half of consumers plan to take on more debt to pay for holiday expenses, another report by Ally Bank found. That CNBC survey found that 61% of Americans are living paycheck to paycheck, up from 58% in March. More than one-third of consumers plan to dip into their savings even more to cover holiday spending, LendingClub also found.
Persons: Barbie, Mario Tama, LendingClub, Alia Dudum Organizations: Deloitte, Walmart, Getty, Bank, Ally Bank, CNBC Locations: Burbank , California
She left her job at Walmart because it was too physical, but her current job is mentally taxing. Nearly every Republican in the poll rated the economy unfavorably, and 59 percent of Democrats did. Steven Cabrera, 35, who works for the military in Phoenix, was among the 57 percent of voters who said economic issues were a bigger priority than societal ones. He wanted to know: Is that the reason our economy is “slowing down?” He wasn’t sure, but he thought it might be. He plans to vote for “the Republican, any Republican,” he said.
Persons: Suzanne Haberkorn, won’t, , Steven Cabrera, Alexandria Ocasio Cortez, Organizations: Walmart, Research, Republican Locations: Waukesha, Wis, Phoenix, Alexandria Ocasio Cortez of New York, Ukraine
Stores will display testers on its shelves, but customers must ask an employee for a bottle to purchase. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Sephora began implementing this strategy in the summer to reduce retail theft , according to a statement to CNN. But locking up merchandise can alienate customers, Business Insider previously reported . When Target closed nine locations this fall, the company blamed retail theft.
Persons: , Sephora Organizations: Service, CNN, Business, CVS, -, Walmart, Target Locations: Manhattan's
Here's how Morgan Stanley thinks the stock market will move in 2024, the economic warning signs investors should watch for, and which stocks are best positioned to outperform next year. A stronger stock market in 2024You'd think with the myriad problems stocks are facing right now that the market is in for a difficult year ahead. Wilson believes that earnings growth will accelerate as the year progresses. Morgan StanleyBeyond strong earnings growth for individual companies, Wilson expects that increased spending in a variety of industries will provide fiscal support across the market. Guided by the themes above, Wilson polled Morgan Stanley analysts for their top stock picks heading into 2024.
Persons: Morgan Stanley, Michael Wilson, Morgan Stanley Wilson, Wilson, Jerome Powell Organizations: Business, Reserve, Walmart, Target, Fed, White House Locations: headwinds, bailouts
Falling prices of commodities like copper and lumber “negatively impacted” Home Depot’s third-quarter earnings, CEO Ted Decker told investors on the company’s earnings call earlier this week. In particular, they're noticing consumers pushing off bigger-ticket purchases like appliances, which have become cheaper compared to a year ago. But the problem with deflation is that when people begin to expect lower prices in the future, they have little incentive to make purchases right now. In China, however, prices across all goods and services were 0.2% lower in October compared to the same month last year. He also warned that US-based Walmarts could enter “a deflationary environment.”Besides eggs, other cheaper goods include airfares, gasoline, appliances and smartphones.
Persons: Cathie Wood, , Ted Decker, Billy Bastek, ” Bastek, Justin Sullivan, Doug McMillon, Preston Caldwell, “ it’s Organizations: New, New York CNN, Tech, ARK Investment Management, Wall Street, Home Depot, Walmart, Morningstar, CNN Locations: New York, United States, China
Target is testing a new self-checkout policy
  + stars: | 2023-11-18 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +2 min
New York CNN —Target is testing a new self-checkout policy as retailers are finding the cashier-less technology can put off customers. At a handful of stores, Target has restricted self-checkout to customers buying 10 items or fewer. Target and other retailers had expanded self-checkout machines in recent years. Self-checkout machines sometimes break. Target said that merchandise losses, known as shrink, were not a factor in testing new self-checkout policies.
Persons: John Mulligan, , we’ve, Michael Fiddelke Organizations: New, New York CNN, Target, BBC, Walmart, Costco, Locations: New York, United States, Britain
The Gap logo is seen on the front of the company's store in Paris, France, July 1, 2021. If current gains hold, shares will have nearly doubled since late July after the former Mattel (MAT.O) executive was appointed to revive the once sought-after brand. Gap's third-quarter earnings release Thursday showed significant inventory destocking, even as its holiday-season forecast disappointed. However, Gap joined other retailers in sounding a cautious note on spending, heading into the all-important shopping season. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shinjini Ganguli and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.
Persons: Sarah Meyssonnier, Richard Dickson, Dickson, David Swartz, Swartz, Katrina O'Connell, Gap, Ananya Mariam Rajesh, Shinjini Ganguli Organizations: REUTERS, Mattel, Gap's Old Navy, Morningstar, Navy, Walmart, Banana Republic, Thomson Locations: Paris, France, Bengaluru
Gap shares soar on Old Navy brand renewal, controlled inventory
  + stars: | 2023-11-17 | by ( ) www.reuters.com   time to read: +2 min
Comparable sales at Old Navy rose 1% in the third quarter, the first increase in 10 quarters. "Old Navy gained market share, an encouraging early proof point that work to improve both product assortment and brand messaging" were driving results, Gap Chief Financial Officer Katrina O'Connell said on Thursday following the earnings. Gap's struggles with outdated inventory at its namesake brand and Old Navy had pushed customers to look for newer and fresher styles at rivals like Shein and Amazon.com (AMZN.O). Jefferies analysts said new CEO Richard Dickson's prior experience in reinvigorating brands like Barbie at Mattel (MAT.O) could bring a lift to the Old Navy banner. The apparel maker's executives also alluded to a "longer recovery" time for Banana Republic and Athleta, which has seen "product misfires" and weak "retail execution".
Persons: Sarah Meyssonnier, Katrina O'Connell, Richard Dickson's, Barbie, Ananya Mariam Rajesh, Sriraj Organizations: REUTERS, Old Navy, Walmart, Advisory, Navy, Jefferies, Mattel, Banana Republic, Thomson Locations: Paris, France, trendier, encouragingly, Bengaluru
Walmart Earnings, Low Fuel Prices Drag on Stocks
  + stars: | 2023-11-17 | by ( Ryan Dezember | ) www.wsj.com   time to read: 1 min
Earnings selloffs in Cisco Systems and Walmart pulled down the Dow. But the broader market narrowly overcame those drags as well as tumbling energy shares to keep the November rally going. The S&P 500 added 0.1%. The tech-oriented Nasdaq Composite eked out a smaller gain than that and is now up 9.8% this month. The Dow Jones Industrial Average shed about 0.1%, or 46 points.
Organizations: Cisco Systems, Walmart, Dow Jones
Take Five: Black Friday is (almost) here
  + stars: | 2023-11-17 | by ( ) www.reuters.com   time to read: +6 min
REUTERS/Kamil Krzaczynski/File Photo Acquire Licensing RightsNov 17 (Reuters) - U.S. retailers are gearing up for Black Friday, marking the start of the shopping season that follows the Thanksgiving holiday, while business activity data should gauge the temperature elsewhere. 1/ BARGAIN HUNTINGThe crucial holiday shopping season kicks off with Black Friday on Nov. 24 at a time when investors are questioning whether the consumer-driven U.S. economy can remain resilient. This year's Black Friday comes as Americans grapple with soaring interest rates and inflation that, while easing, remains above the Federal Reserve's 2% target. Already, data for October showed U.S. retail sales fell, pointing to slowing demand, although the decline was less than expected. As long as that's not the case, pressure is on the Kishida cabinet since a weak yen is unpopular politically.
Persons: Kamil Krzaczynski, Lewis Krauskopf, Kevin Buckland, Naomi Rovnick, Dhara Ranasinghe, Karin Strohecker, There's, PIMCO, Rishi Sunak, David Cameron, Jeremy Hunt, Hunt, bode, Sergio Massa, Javier Milei, Pragmatist Massa, Prinz Magtulis, Sumanta Sen, Kripa Jayaram, Pasit, Mark Potter Organizations: Walmart, REUTERS, Black, Nvidia, Insider Intelligence, European Commission, PMI, Fed, European Central Bank, Reuters Graphics Reuters, DOWNING STREET, Labour, gilts, Natwest, Reuters, Bank of Japan, Peronist, Thomson Locations: Chicago , Illinois, U.S, Argentina, Lewis, New York, Tokyo, London, Britain, Japan, Egypt, Taiwan, South Africa, India
Stock futures suggest so. The S&P 500 and Nasdaq Composite managed small gains Thursday , despite selloffs in Walmart and Cisco, with both indexes up about 2% so far this week. The S&P 500 has risen for 12 of the past 14 sessions and looks set to rise for the third straight week. Gap stock jumped premarket, after strong results, while disappointing earnings from Applied Materials pushed down the semiconductor-equipment company. Alibaba stock remained under pressure after the e-commerce giant canceled the spinoff of its cloud arm.
Persons: Bonds Organizations: Nasdaq, Walmart, Cisco, Materials Locations: U.S
A career trend to bet on
  + stars: | 2023-11-17 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +8 min
In today's big story, we're looking at why the creator economy is big business and potentially the future of the entertainment industry. The big storyInfluential influencersPete Ryan for Business InsiderLike it or not, the "creator economy" is here to stay. Goldman Sachs analysts estimated the creator economy was a $250 billion industry and could nearly double to $480 billion by 2027. The story is part of Business Insider's "5 Trends to Bet Your Career On" series. Business Insider's Lucia Moses and Alison Brower have a full breakdown of the recent cuts.
Persons: , who've, Pete Ryan, Goldman Sachs, Amanda Perelli, Amanda, Alix Earle, Arantza Pena Popo, Business Insider's Lucia Moses, Alison Brower, that's, Michael Dell, Carl Icahn, Dell, BRENDAN SMIALOWSKI Biden, Xi, Dolly Parton, RuPaul, Rachel McAdams, Danny DeVito, Martin Scorsese, VCs, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Business, TikTok, YouTube, Diego Donamaria, CNBC, Tech, Icahn Enterprises, Whirlpool, Walmart, Target, Today Locations: Diego, New York City, San Diego, London, New York
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