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Search resuls for: "Bobby Griffin"


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Persons: — Ben Affleck, Gal Gadot, Henry Cavill, Jason Mamoa, It’s, Biden, Richard Huff, ” Mr, Huff, , Andy Kelly, Dwayne, Johnson, Bobby Griffin, Griffin, , Donald J, Trump Organizations: telltale, “ Justice League, Facebook, A.I, Amazon Locations: California
Dollar General shopping carts are seen outside a store in Mount Rainier, Maryland, U.S., June 1, 2021. The Goodlettsville, Tennessee-based retailer has fallen short of the average analyst forecast for four straight quarters, and on Thursday cut its annual profit and sales targets for the second time this year. The quarter "marks the fourth consecutive guide down for Dollar General, which admittedly creates further uncertainty if we are hitting the bottom yet," said Raymond James analyst Bobby Griffin. "While we expect traffic trends to improve, we do not expect positive traffic until the fourth quarter," CFO Kelly Dilts said. To better compete with rival Dollar Tree and bigger grocer Walmart (WMT.N), Dollar General has been investing to keep prices low for its everyday staples, improve merchandise mix and increase wages.
Persons: Erin Scott, Raymond James, Bobby Griffin, Kelly Dilts, Savyata Mishra, Pooja Desai Organizations: REUTERS, Dollar, Walmart, Thomson Locations: Mount Rainier , Maryland, U.S, , Tennessee, Bengaluru
Bed Bath & Beyond had 53% of inventory available for customers in December 2022, per DataWave. For context, in January 2022, the company's inventory availability rate was 77%. That's much lower than the company's competitors like Kohl's and Lowe's, whose December 2022 inventory availability rates were 61% and 72%, respectively. "During the quarter, inventory levels were negatively impacted by reduced credit limits for Bed Bath," Raymond James analyst Bobby Griffin wrote in a note Thursday. Categories worse off for Bed Bath and Beyond in December 2022 were kitchen and lighting, which both had a mere 39% inventory availability rate.
Consumer discretionary stocks, a group whose members run the gamut from Amazon.com Inc (AMZN.O) and automaker Tesla Inc (TSLA.O) to retailer Target Corp (TGT.N), have been walloped by surging prices, with the S&P 500’s consumer discretionary sector falling nearly 33% for the year to date compared with a nearly 17% fall for the broader index. Investors poured a net $1.05 billion into consumer discretionary stocks in the past week, the sixth-largest weekly inflows since 2008, data from BofA Global Research showed. “Everybody is watching the strength of the consumer and so far the consumer has held.”Yruma is bullish on retailers Nordstrom Inc (JWN.N) and Target. To be sure, consumer stocks have had more than their fair share of woes this year. The bank's analysts are underweight the consumer discretionary sector.
Hold off on Home Depot for now, according to Raymond James. Analyst Bobby Griffin downgraded shares of Home Depot to market perform from outperform, foreseeing challenges next year for the housing sector. Home Depot posted on Tuesday better-than-expected results for the third quarter , while reaffirming its full-year outlook. "[Any] potential decrease in home prices ... could hinder consumer's perceived return on investment in their homes following several years of record spend in the category," Griffin wrote. Still, Griffin said the long-term investment case for Home Depot remains intact, as he expects that the retailer will continue to take market share from here.
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