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☆ Kroger, Albertsons CEOs defend grocery tie-up, say deal won't hurt competition
▼ + stars: | 2022-11-29 | by ( Melissa Repko | ) www.cnbc.com time to read: +2 min

The battle over whether grocery giants Kroger and Albertsons should be allowed to combine is heating up. "I just don't see less competition going forward," Kroger CEO Rodney McMullen said at the hearing by the Senate Judiciary Subcommittee on Competition Policy, Antitrust, and Consumer Rights. Kroger announced plans in October to acquire Albertsons in a deal valued at $24.6 billion. They emphasized that the proposed deal comes at a time when groceries are taking up more of American families' budgets. Food prices have surged as inflation hovers near four-decade highs.

☆ Shopper turnout hit record high over Black Friday weekend, retail trade group says
▼ + stars: | 2022-11-29 | by ( Melissa Repko | ) www.cnbc.com time to read: +2 min

The industry group said Tuesday that the figure topped the turnout of 179 million during last year's holiday weekend. The NRF, which began tracking the figure in 2017, had forecast a turnout of 166.3 million for this year. Figures from Adobe Analytics showed that online spending hit record highs on key days during the holiday shopping weekend. Black Friday sales hit $9.12 billion and Cyber Monday sales hit $11.3 billion, according to the company, which tracks sales on retailers' websites. It could also signal a return to the pre-pandemic timetable of holiday shopping, with people concentrating their gift-buying around Black Friday and in the final sprint before Christmas Day.

☆ We haven't seen a drop in demand over inflation concerns, says Ledbury CEO
▼ + stars: | 2022-11-28 | 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 EmailWe haven't seen a drop in demand over inflation concerns, says Ledbury CEOPaul Trible, Ledbury co-founder and CEO, and CNBC's Melissa Repko join 'Squawk on the Street' to discuss why he's bullish on the holiday season and if there's been a shift in consumer behavior.

☆ It will take a few weeks to know post-holiday spending trends, says CNBC's Repko
▼ + stars: | 2022-11-25 | 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 EmailIt will take a few weeks to know post-holiday spending trends, says CNBC's RepkoCNBC's Melissa Repko reports on how Black Friday has changed over the years and how the consumer will fare post-holiday season.

☆ Black Friday online sales to hit new record, expected to top $9 billion
▼ + stars: | 2022-11-25 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

Overall online sales for the day after Thanksgiving are expected to top $9 billion, according to Adobe, which tracks sales on retailers' websites. Typically, shoppers spend about $2 billion to $3 billion online in a day, according to Adobe. Adobe noted that mobile shopping also hit a record high this year, with sales from smartphones accounting for 55% of online sales on Thanksgiving Day. These sales are expected to account for 53% of total Black Friday sales, the company predicts. Cyber Monday is expected to be the biggest online shopping day, with sales slated to top $11.2 billion, the company forecast.

☆ Online shoppers spent a record amount on Thanksgiving
▼ + stars: | 2022-11-25 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Thanksgiving Day online spending hit a record of $5.29 billion, an increase of 2.9% year over year, according to Adobe, which tracks sales on retailers' websites. Typically, shoppers spend about $2 billion to $3 billion online in a day, according to Adobe. Read more: Walmart overtakes Amazon in shoppers' search for Black Friday bargainsSo far, shoppers have been snapping up items. Online sales growth on Thanksgiving Day was more modest, however. Bigger holiday shopping days are yet to come.

☆ Retailers are under pressure to turn deep discounts into big sales on Black Friday
▼ + stars: | 2022-11-25 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Shoppers walk past a sale sign as Black Friday sales begin at The Outlet Shoppes of the Bluegrass in Simpsonville, Kentucky, November 26, 2021. Jon Cherry | ReutersMajor retailers are under intense pressure to deliver on Black Friday after several of them reported a slowdown in sales heading into the do-or-die holiday shopping season. Best Buy CEO Corie Barry said shoppers are showing more interest in sales than usual. Barry, the Best Buy CEO, said the company's October sales were the slowest in the quarter compared with last year. She said Best Buy now expects customers to spend more during Black Friday, Cyber Monday and the two weeks leading up to Christmas.

Law enforcement work the scene of a mass shooting at a Walmart, Wednesday, Nov. 23, 2022, in Chesapeake, Va. A Walmart night crew supervisor killed six people Tuesday night before taking his own life at the Walmart Supercenter in Chesapeake, Virginia, police said Wednesday. The gunman – identified as Andre Bing, 31, of Chesapeake – was a disgruntled employee, a senior law enforcement official told NBC News. The Chesapeake store will remain closed as authorities investigate the shooting. Other Walmart stores have been the scenes of deadly shootings.

☆ What's next for Nordstrom? Trading the Q3 results
▼ + stars: | 2022-11-22 | by ( Melissa Lee | ) 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 EmailWhat's next for Nordstrom? Trading the Q3 resultsNordstrom is on the move after earnings. With CNBC's Melissa Repko and Melissa Lee, and the Fast Money traders, Tim Seymour, Bonawyn Eison, Dan Nathan and Guy Adami.

☆ Best Buy sticks to holiday-quarter outlook as electronics demand holds up
▼ + stars: | 2022-11-22 | by ( Melissa Repko | ) www.cnbc.com time to read: +1 min

A Best Buy store is seen in Los Angeles, California, U.S., March 13, 2017. Best Buy on Tuesday surpassed Wall Street's expectations for quarterly earnings, as demand for big-ticket consumer electronics held up despite inflation. Best Buy is staring down a more uncertain sales environment this holiday season. A month after Best Buy warned of slower sales, it cut jobs across the country. Shares of Best Buy are down about 30% so far this year, underperforming the S&P 500 Index.

☆ Gap beats on third-quarter revenue, but tempers expectations for holiday season
▼ + stars: | 2022-11-17 | by ( Melissa Repko | ) www.cnbc.com time to read: +6 min

Gap on Thursday beat Wall Street's quarterly revenue expectations, but gave a cautious outlook for the holiday season. Old Navy, known for casual clothing for adults and kids: comparable sales fell 1%. Banana Republic, known as a destination for suiting and dresses: comparable sales rose 10%. comparable sales rose 10%. Athleta, an activewear brand: comparable sales were flat, as shoppers shifted to buying more outfits for occasions and for work.

☆ Walmart and Target’s quarterly results lay bare the retailers' stark differences
▼ + stars: | 2022-11-17 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Groceries account for 56% of Walmart's annual revenue, compared with just about 20% at Target, according to company filings. More customers turn to Walmart to fill out the bulk of their grocery lists, said Neil Saunders, managing director of retail advisory firm GlobalData. A man pushes his shopping cart past bread for sale at a Walmart SuperCenter store in Rosemead, California. Brown | AFP | Getty ImagesLow prices vs. Fun findsWalmart is known for its mantra of "everyday low prices" and its focus on value has become synonymous with its name. About 21% of sales at Target come from unplanned purchases, according to GlobalData research from before the pandemic.

☆ Macy's raises earnings forecast after seeing strong luxury sales, bringing in fresh holiday inventory
▼ + stars: | 2022-11-17 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Macy's on Thursday raised its earnings forecast for the year after its third-quarter results topped Wall Street expectations. The company stood by its revenue guidance for the year as it faces a tougher sale backdrop this holiday season. But Macy's said the figure was up when compared to the the third quarter of 2019, before the pandemic. It raised its annual adjusted earnings per share forecast to $4.07 to $4.27 per share, up from its previous range of $4 to $4.20. Target slashed its forecast for the holiday quarter, saying weaker sales have continued into November.

The company said Wednesday it now plans for a weaker holiday quarter. Target did not provide an outlook beyond the holiday quarter, but said it expects tough conditions to persist. So far this fiscal year, those losses have had a more than $400 million impact on Target’s operating margin. Comparable sales, which track Target sales online and at stores open at least 13 months, rose 2.7% over the year-ago period. Target will share more details about its cost-cutting plan at an annual investor day, which is scheduled for March.

☆ Target will report earnings before the bell — here's what to expect
▼ + stars: | 2022-11-16 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Target on Wednesday will report its fiscal third-quarter earnings, as the big-box retailer tries to clear through an abundance of extra inventory and woo holiday shoppers. Here's what Wall Street is expecting, according to Refinitiv:Earnings per share: $2.13Revenue: $26.38 billionTarget's inventory was up 43% year over year in the first quarter and 36% in the second quarter. Those actions hurt the company in the second quarter, with profits falling nearly 90%. That would represent a jump from its operating margin rate of 1.2% in the fiscal second quarter. The company also showed improvement with its own inventory woes, saying inventory is up only 13% year over year — with most of that coming from inflation.

☆ Target's earnings highlight a decline in consumer discretionary spending
▼ + stars: | 2022-11-16 | 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 EmailTarget's earnings highlight a decline in consumer discretionary spendingCNBC.com's Melissa Repko joins 'Power Lunch' to report on Targets earnings miss, the pullback in consumer discretionary spending and the differences between Target's product offerings versus Walmart.

☆ Walmart will report earnings before the bell — here's what to expect
▼ + stars: | 2022-11-15 | by ( Melissa Repko | ) www.cnbc.com time to read: +2 min

Customers outside a Walmart store in Torrance, California, US, on Sunday, May 15, 2022. Walmart on Tuesday will report its fiscal third-quarter earnings before the bell, as the retail giant caters to inflation-squeezed customers and gears up for the peak of holiday season. To drum up sales, Walmart, Amazon , Target and other retailers have kicked off the holiday season early. Walmart threw its own sales event in October to coincide with Amazon's second Prime Day-like sales event of the year. The company's shares closed Monday at $138.39, bringing Walmart's market value to about $375.62 billion.

☆ Target's still a buy because everything is already baked into the stock, says Quint Tatro
▼ + stars: | 2022-11-15 | 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 EmailTarget's still a buy because everything is already baked into the stock, says Quint TatroCNBC's Melissa Repko and Joule Financial's Quint Tatro join 'The Exchange' to discuss Target and Walmart's upcoming earnings results, and how to trade Target and TJ Maxx.

☆ Retailers' inventory struggles expected to hit earnings
▼ + stars: | 2022-11-14 | 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 EmailRetailers' inventory struggles expected to hit earningsCNBC's Melissa Repko joins 'Power Lunch' to share predictions for retail earnings reports, the consumer deals expected to emerge this holiday season and the retail product offerings most impacted by inventory surplus.

☆ Retailers' biggest holiday wish is to get rid of all that excess inventory
▼ + stars: | 2022-11-13 | by ( Melissa Repko | ) www.cnbc.com time to read: +6 min

Investors want a clearer sense of how much excess stuff retailers have sold off — and how deep they may have to discount to keep merchandise moving. Retailers are under pressure to clear out inventory and start fresh in the next fiscal year. Walmart and Target were among the retailers that shocked investors with significant jumps in inventory levels in the first quarter, which ended April 30. Kohl's swung from having too little inventory last year to having ballooning inventory in the second quarter of this year. Excess inventory could downgrade the shopping experience this holiday season at some stores, too.

☆ Judge rejects Walmart's request for new trial after firing of employee with Down syndrome
▼ + stars: | 2022-11-09 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Marlo Spaeth (left) was fired from Walmart in July 2015, after working there for nearly 16 years. A federal judge has rejected Walmart's request for a new trial after a jury found the retailer discriminated against a longtime employee with Down syndrome by refusing to adjust her schedule and firing her. In a court filing on Monday, the judge stood by the July 2021 ruling. Spaeth's firing permanently shook up their lives and took away her sister's sense of purpose, Stevenson said. Among its arguments, Walmart said the federal agency did not prove the retailer knew Spaeth's scheduling challenges were related to her Down syndrome.

☆ Levi Strauss CEO says company's search for new leader got help from unlikely source
▼ + stars: | 2022-11-08 | by ( Melissa Repko | ) www.cnbc.com time to read: +1 min

As Levi Strauss & Co. searched for its next leader, it got help from a surprising source. Levi CEO Chip Bergh said pressure from activist investors prompted Kohl's CEO Michelle Gass to consider the job. On Tuesday, Levi announced that Gass will join the company in January as president and become chief executive within 18 months. "She's been through the wars," Bergh told CNBC. Gass has led an embattled Kohl's, which has rebuffed repeated attempts by activist investors to push her out.

☆ Kohl's CEO Michelle Gass to step down, join Levi Strauss as CEO in waiting
▼ + stars: | 2022-11-08 | by ( Melissa Repko | ) www.cnbc.com time to read: +1 min

Kohl's said Tuesday that CEO Michelle Gass is leaving the company for a new opportunity as its sales continue to fall. In a separate release, Levi Strauss & Co. said Gass will join the company in early January as president and step into the role of CEO within the next 18 months. Kohl's — and Gass — have been under pressure from investors. Its push for new leadership intensified after Kohl's terminated talks this summer to sell to the Franchise Group, owner of The Vitamin Shoppe. The board appointed Tom Kingsbury, a Kohl's director since last year, to serve as interim CEO.

United Airlines CEO Scott Kirby noted that more relaxed office attendance policies are also letting people travel more. The appetite for travel is persisting despite soaring airfares, which have been fueled by a pilot shortage and aircraft delivery delays. Even after Labor Day, when travel normally slows down, "it's just not the case this year, especially for international travel," she said. But if a recession hits, that could jeopardize all consumer spending — and prompt even higher-income Americans to rethink big trips. Tim Quinlan, senior economist at Wells Fargo, expects the holiday season will be the "last hurrah" for consumers.

☆ Inflation to dampen holiday spending, retail trade group forecasts
▼ + stars: | 2022-11-03 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Getting shoppers to spend this holiday season won't be easy. "Some of that is going to impact their gift giving and how they cover their other expenses during the holiday season," he said. Other industry-watchers have also forecast a muted holiday season. Last year, holiday sales jumped 14.1% and hit a record of $886.7 billion. That growth compares with an average 4.4% increase in holiday sales over the previous five years.

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