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Mario Anzuoni | ReutersOff-price retailers like TJX Companies and Ross are still posting sales gains and taking market share from rivals, but it's not just because consumers are under pressure and hunting for value. TJX and Ross both reported fiscal first quarter earnings last week that came in better than Wall Street expected, even as both companies lapped outsize growth from the prior-year period. Ross, which runs Ross Dress for Less and dd's Discounts, posted an 8% jump in sales, bringing revenue to $4.86 billion, compared to estimates of $4.83 billion, according to LSEG. "That's because they're providing consistent value to the consumer – and that's branded consistent value to the consumer at a discount price," said Roach. The dynamic is a bit different at Ross, which has more exposure to the lower- and middle-income consumer than TJX does and competes more on price, said Siegel.
Persons: Mario Anzuoni, Ross, it's, TJ Maxx, they've, Jessica Ramirez, Jane Hali, TJX, they'd, They've, Goldman Sachs, Brooke Roach, John Klinger, Michael Hartshorn, Roach, Simeon Siegel, Siegel, Ernie Herrman Organizations: Maxx, Reuters, TJX, Associates, Wall, Marshalls, CNBC, Walmart, BMO Capital Markets, Brands Locations: Pasadena , California, Homegoods, Ross
Peloton isn't going under imminently, but let's be real here: No fitness fad lasts forever. While there was a lot that went wrong, the long and short of it is that Peloton failed to read the room on its pandemic popularity. "It's not that Peloton isn't a good business model; it's that it simply isn't a mass product but more of a niche, luxe one," she said. Investors have soured on the company, and Peloton's once $50 billion market cap has fallen to under $2 billion. It also has to contend with the gym, which has all sorts of classes and fitness equipment that let people mix things up, including, in many cases, Pelotons or other connected-fitness devices.
Persons: I've, Tae, monthslong, Rina Raphael, Simeon Siegel, It's, That's, Siegel, Paul Golding, it's, Golding, there's, Raphael, Natalia Mehlman Petrzela, Emily Stewart Organizations: Private, BMO Capital Markets, Macquarie Capital, Google, YouTube, New School, Facebook, Business Locations: COVID, unsubscribing, Barre, America
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeloton is losing money because it keeps reinvesting in growth, says BMO's Simeon SiegelSimeon Siegel, BMO Capital Markets, joins 'Fast Money' to talk Peloton shares sinking after CEO departure and layoffs.
Persons: BMO's Simeon Siegel Simeon Siegel Organizations: BMO Capital Markets
To be sure, late payments don't always signal financial troubles. Creditsafe spokesperson Ragini Bhalla said payment data is only one factor the firm considers when assessing a company's financial health. Though the data "doesn't represent a company's total trading behavior, analysis has proven that it is hugely predictive of a company's financial health and creditworthiness," Bhalla said. "When the number of late payments increases like this, it's often indicative of financial challenges and poor cash flow forecasting," Creditsafe said. While Saks often made late payments last year, its on-time payments have dropped significantly since October 2023, the firm said.
Persons: Saul Loeb, Perry Mandarino, Mandarino, Creditsafe, Ragini Bhalla, Bhalla, Barry McCarthy, Simeon Siegel, Siegel, he's, Peloton's DPO, Marc Metrick, Metrick, Mark Still, Stewart Glendinning, Tim Baxter Organizations: Saks, Washington , D.C, AFP, Getty, Bed, RadioShack, CNBC, Retailers, Body, Body Works, Riley Securities, BMO Capital Markets, Business of Fashion, HBC, Express, Street, Creditsafe, Economic Security, IRS, New York Stock Exchange, Bath Locations: Washington ,, Express, Creditsafe, U.S
Here's why BMO's Simeon Siegel favors Nike and Lululemon
  + stars: | 2024-04-01 | 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 EmailHere's why BMO's Simeon Siegel favors Nike and LululemonSimeon Siegel, BMO Capital Markets retail analyst, joins 'Money Movers' to discuss his optimism towards Nike and Lululemon, how impacted the consumer is by the cumulative effect of rate hikes, and more.
Persons: BMO's Simeon Siegel, Lululemon Simeon Siegel Organizations: Nike, BMO Capital Markets
Impelled in large part by TikTok to seek beauty products meant for adults, younger customers — teenagers and even preadolescents — are proving to be a mixed blessing for retailers like Sephora and Ulta. Retail analysts say that as the beauty stores attract a new generation of shoppers, they will need to make sure that the experience remains fulfilling for their older, core customers — including some who may not enjoy stores full of tweens and teens. “So much of luxury and prestige is the experience,” said Simeon Siegel, a retail analyst at BMO Capital Markets. “Making an adult feel special is very different than making a college student feel special, which is dramatically different than making a tween feel special. The survey found that teenage respondents spent 23 percent more on cosmetics, skin care and fragrance in 2023 than the year before.
Persons: TikTok, , Simeon Siegel, Piper Sandler Organizations: Retail, BMO Capital Markets, Ulta Locations: United States
New York CNN —America’s gyms are adjusting their strategies as more of their members take weight loss drugs. JPMorgan researchers estimate that 30 million people may be taking GLP-1 drugs by 2030, or around 9% of the US population. For now, GLP-1 medications are prohibitively expensive for most Americans, costing about $1,000 or more a month. (Ozempic has not been approved for weight loss by regulators, though Wegovy, a similar drug, has.) It also made a $100 million-plus deal to buy Sequence, a telehealth business that offers virtual prescriptions to patients for these weight loss drugs where appropriate.
Persons: , Simeon Siegel, Bahram Akradi, , Amanda Edwards, ” Siegel, Rick Caro, Jaap Arriens, WeightWatchers Organizations: New, New York CNN, Boomers, JPMorgan, Fitness, BMO Capital Markets, Management, Industries Locations: New York, Ozempic, Barre, Southern California
How Hermes Became the Ultimate Status Symbol
  + stars: | 2024-02-24 | by ( Madeline Berg | ) www.businessinsider.com   time to read: +11 min
Now, its shares are also hot commodities, with their performance outpacing bigger luxury brands like Louis Vuitton owner LVMH and Gucci-maker Kering. "The curse of retail is everyone chases more," Simeon Siegel, a senior retail analyst at BMO Capital Markets, told Business Insider about luxury brands. "Brand equity is much more diluted than Hermès'," Herzog said of brands like Gucci and Louis Vuitton. Hermès is 'fairly recession-proof'Keeping it simple has helped Hermès hold its own as luxury brands start to lose their shine after a multiyear spending boom. It also announced it will expand the Saint Junien facility in New Aquitaine (also France) which makes Kelly and Birkin bags.
Persons: Hermès, Louis Vuitton, LVMH, Kering's, hasn't, it's, Axel Dumas, Simeon Siegel, Siegel, Birkin, , waitlists, Edward Berthelot, there's, Hitha Herzog, Nicole Pollard Bayme, Kelly, Versace, Herzog, Gucci, Saint Laurent, Bernstein, Luca Solca, Chanel, Solca, Winston Chesterfield, Barton, That's, Williamsburg , Brooklyn —, Axel, Pierre, Alexis Dumas —, Bernard Arnault's LVMH, Dumas, Barton's Chesterfield, They've, Cousins Axel Dumas, Alexis Dumas, Rodrigo Vaz, Thierry Hermès, they've, We're Organizations: BMO Capital Markets, Capri Holdings, North, Gucci Locations: Hermès, London, China, France, Louviers, Ardennes, New Aquitaine, Aspen , Colorado, Naples, Florida, Nanjing, Princeton , New Jersey, Williamsburg , Brooklyn
How Hermès became the ultimate status symbol
  + stars: | 2024-02-24 | by ( Madeline Berg | ) www.businessinsider.com   time to read: +11 min
A cashmere throw blanket splashed with the letter H. For years, Hermès' iconic products have been coveted by those in the know. Now, its shares are also hot commodities, with their performance outpacing bigger luxury brands like Louis Vuitton owner LVMH and Gucci-maker Kering. "Brand equity is much more diluted than Hermès'," Herzog said of brands like Gucci and Louis Vuitton. Hermès is 'fairly recession-proof'Keeping it simple has helped Hermès hold its own as luxury brands start to lose their shine after a multiyear spending boom. It also announced it will expand the Saint Junien facility in New Aquitaine (also France) which makes Kelly and Birkin bags.
Persons: Hermès, Louis Vuitton, LVMH, Kering's, hasn't, it's, Axel Dumas, Simeon Siegel, Siegel, Birkin, , waitlists, Edward Berthelot, there's, Hitha Herzog, Nicole Pollard Bayme, Kelly, Versace, Herzog, Gucci, Saint Laurent, Bernstein, Luca Solca, Chanel, Solca, Winston Chesterfield, Barton, That's, Williamsburg , Brooklyn —, Axel, Pierre, Alexis Dumas —, Bernard Arnault's LVMH, Dumas, Barton's Chesterfield, They've, Cousins Axel Dumas, Alexis Dumas, Rodrigo Vaz, Thierry Hermès, they've, We're Organizations: BMO Capital Markets, Capri Holdings, North, Gucci Locations: Hermès, London, China, France, Louviers, Ardennes, New Aquitaine, Aspen , Colorado, Naples, Florida, Nanjing, Princeton , New Jersey, Williamsburg , Brooklyn
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
BMO's Simeon Siegel weighs in on retailers' holiday expectations
  + stars: | 2023-11-24 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBMO's Simeon Siegel weighs in on retailers' holiday expectationsSimeon Siegel, BMO capital markets senior analyst, joins 'Closing Bell' to discuss the winners and losers in the holiday retail season.
Persons: BMO's Simeon Siegel, Simeon Siegel Organizations: BMO
Will gym stocks be hurt by an "Ozempic effect" similar to the blow that has rocked the medical device and food sector? Stock in Planet Fitness has slipped more than 16% from the start of the year, while Life Time has added roughly 20%. Planet Fitness sunk to a 52-week low in September after the company's board ousted Chris Rondeau as chief executive officer . PLNT YTD mountain Planet Fitness stock. At Life Time, anti-obesity medication is being incorporated into the weight loss programs it offers to members.
Persons: Simeon Siegel, it's, Jefferies, Chris Rondeau, Bahram Akradi, Warren Cheng, PLNT, Cheng, Jeff Zwiefel, Alexander Perry's, Perry, Curtis Harman, Harman, It's, Piper Sandler, Korinne Wolfmeyer, Wolfmeyer Organizations: BMO Capital Markets, ISI, Bank of America, GLP, Wellness, CNBC, Holdings, Nordisk's Ozempic
T.J. Maxx is an off-price retailer that offers a treasure hunt shopping experience. T.J. Maxx is known as the retailer that took the inventory other stores couldn't sell. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementT.J. Maxx is often considered the last resort retailer, taking inventory other stores couldn't sell.
Persons: Maxx, , they've, Simeon Siegel, Siegel, Ernie Herrman Organizations: Service, Marshalls, TJX Companies, Yahoo Finance Locations: Maxx
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGAP beats on Q3 earnings, sees smaller than expected same-store sales declineSimeon Siegel, BMO Capital Markets Senior Analyst, joins 'Closing Bell Overtime' to talk retail earnings including GAP, TJX, Ross and more.
Persons: Simeon Siegel, Ross Organizations: GAP, BMO Capital Markets
People visit the Nike store at 5th Avenue during the holiday season in New York City, U.S., December 9, 2022. The company had turned to steep discounting to clear the excess inventory, which had weighed on its margins in the past few quarters. Nike on Thursday estimated a 100 basis point boost to current-quarter gross margin while maintaining its annual forecasts. The jump also lifted shares of Adidas, Puma and JD Sports (JD.L) between 5%-7%. Still, demand in North America remained under pressure, leading Nike to post a slight miss on first-quarter revenue.
Persons: Eduardo Munoz, Drake MacFarlane, David Swartz, Simeon Siegel, Piper Sandler, Abbie Zvejnieks, Savyata Mishra, Deborah Sophia, Sriraj Organizations: Nike, REUTERS, Science, Rivals, Adidas, Puma, Morningstar, BMO, JD Sports, Dick's Sporting, Thomson Locations: New York City, U.S, China, North America, Bengaluru
Retail sector is in a 'limbo state': BMO's Simeon Siegel
  + stars: | 2023-09-22 | 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 EmailRetail sector is in a 'limbo state': BMO's Simeon SiegelSimeon Siegel, senior analyst at BMO Capital Markets, joins 'Closing Bell' to discuss the rough week for retail stock, their future, and more.
Persons: BMO's Simeon Siegel Simeon Siegel Organizations: BMO Capital Markets
College students around America are beginning the trek back to campus. A precursor to that journey is the back-to-school shopping season, and this year it's estimated to hit a record-breaking $94 billion for college students. Inflation is driving the price of school supplies up, but it's a TikTok trend that may be fueling a part of the high spending for college students. Back-to-school shopping is also used as a barometer to gauge potential holiday spending. Watch the video above to find out more about the TikTok trend fueling back-to-college spending.
Persons: Simeon Siegel Organizations: National Retail Federation, BMO Locations: America, U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are seeing people shop when they are given a reason to, says BMO's Simeon SiegelSimeon Siegel, BMO Senior Analyst, joins 'Closing Bell Overtime' to talk the upcoming slate of retail earnings.
Persons: BMO's Simeon Siegel Simeon Siegel Organizations: BMO
Though studies on the topic are hard to come by, anecdotal evidence points to a continued love for casual and comfortable items exiting the pandemic. The two stocks have diverged this year: Lululemon shares have advanced nearly 20%, while Nike shares have slid 7%. The majority of Wall Street views the stock favorably, with more than 70% of analysts rating it a buy or strong buy, according to Refinitiv. Deckers' shares are up 39% in 2023. DECK 5Y mountain Deckers shares over the last half decade Analysts see more upside ahead.
Persons: comfort's, Simeon Siegel, Ashley Owens, ONON, BMO's Siegel, Cowen's John Kernan, Baird, Jonathan Komp, Bank of America's David Roux, Roux, Hoka, Raymond James, Rick Patel, Patel, Jay Sole, Sole, — CNBC's Michael Bloom Organizations: Wall Street, BMO Capital Markets, Companies, Street, Lululemon, Nike, Bank of America's, UBS
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe know people will come to Prime Day but the question is will they spend, says BMO's Simeon SiegelSimeon Siegel, BM Capital Markets, joins 'Fast Money' to talk Amazon Prime Day and what it could mean for the retailer.
Persons: BMO's Simeon Siegel Simeon Siegel Organizations: BM Capital, Amazon
But that’s not the only effects expected: Combined with climate change, El Niño this year could dent US economic growth, potentially impacting everything from food prices to the winter clothing sales. Higher food prices are a common theme across El Niño events, according to a recent Deutsche Bank report. Dry weather has parched crops in El Salvador as the El Niño weather threatens food security. The last time there was an El Niño in 2018 through 2019, NOAA dubbed it “The Great Puny El Niño” due to its relatively weak impact on weather conditions. He projects that El Niño weather events could cause $84 trillion in economic losses in the 21st century.
Persons: Niño, that’s, , Christopher Callahan, ” Christopher Callahan, El, Lesley, Ann Dupigny, Giroux, Yi Yu, Linh Pham, Winters, Yu, Callahan, Simeon Siegel, , Chris Scheuring, “ It’s, Camilo Freedman Organizations: CNN, Oceanic, Atmospheric Administration, NOAA, Dartmouth, Southern, University of Vermont, University of California, Southwestern, Vietnam Electricity Group, Bloomberg, Getty, Deutsche Bank, BMO Capital Markets, Dupigny, US Federal Aviation Administration, California Farm Bureau, La Union, Prediction Locations: Niño, University of California Irvine, Asia, Australia, Southwestern United States, Tri An, Vinh Cuu, Dong Nai Province, Vietnam, United States, rainier, El, Pasaquina, La, El Salvador
Online brands like Warby Parker and Allbirds are also opening brick and mortar shops. Brands that have moved away from department stores and physical shops in recent years are now pivoting back to traditional retail tactics after experiencing first-hand the difficulty of acquiring and retaining customers directly online. And they're not alone: even digital-first brands like Warby Parker and Allbirds have also opened new physical storefronts. A recent study by UBS predicted that retail stores would continue to close over the next five years and estimated that 50,000 shops would disappear by 2028. Nike has also recently announced that it's expanding partnerships with other physical retailers like Designer Brands and Foot Locker after years of steadily cutting its wholesale relationships.
Persons: it's, Warby Parker, Allbirds, , they're, Simeon Siegel, Noble, Locker Organizations: Nike, Service, Brands, Journal ., Interim, Getty, BMO Capital Markets, International Council of Shopping Centers, Ross Stores, Barnes, Body Works, Walmart, UBS Locations: Macy's, Burlington
Nike is striking new deals with retailers as brands realize the DTC model isn't all it's cracked up to be. Designer Brands, Macy's, and Foot Locker have each announced expanded relationships with Nike. But, more recently, Nike has expanded partnerships with retailers, including Macy's and DSW owner Designer Brands, the Wall Street Journal reported. In a May presentation, Daniel Heaf, vice president of Nike Direct, said, "People always ask me: Are you a direct business or a wholesale business? Nike's wholesale business grew faster than its direct business between September and November, showing it's still key to the overall business.
Persons: Locker, , Brands, Macy's, Matt Friend, Daniel Heaf, it's, Simeon Siegel, Siegel Organizations: Nike, Brands, Service, Wall Street Journal, Adidas, BMO Capital Markets, DTC
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIf there's no dramatic market change, retail will have repricing opportunities: BMO's Simeon SiegelSimeon Siegel, senior analyst at BMO Capital Markets, joins 'Closing Bell' to discuss Lululemon seeing a surge in its stock after a Q1 earnings sales beat.
Persons: BMO's Simeon Siegel Simeon Siegel Organizations: BMO Capital Markets
Bath and Body Works ' stock jumped more than 10% in premarket trading Thursday after it beat fiscal first quarter earnings expectations and raised its guidance. It expects adjusted earnings per share to be between $2.68 and $3.08 for the year. The retailer expects earnings per share of 27 to 32 cents in the next quarter, compared to an estimate of 32 cents a share. It reaffirmed its full year sales forecast of flat net sales to a mid-single digit decline. As consumers become more cautious and retail discounts and promotions tick up against a tough macroeconomic backdrop, Bath and Body Works margins dropped.
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