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☆ Estee Lauder jumps 5% on an analyst upgrade — our take on the cosmetics stock
▼ + stars: | 2024-03-28 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "This was a quarter about earnings and these companies are earning a lot of money," Jim Cramer said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Dupont De Nemours, Estee Lauder, Lauder's, we've, Jim, Jim Cramer's Organizations: CNBC, Nvidia, Meta, Dupont De, Bank of America, Management Locations: Wells Fargo, Dupont, U.S

☆ This retailer is set up for a comeback — we're getting in early by starting a position
▼ + stars: | 2024-03-27 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

We are initiating a position in Best Buy, buying 400 shares at $82.30 each. Consumer electronics historically needed to be upgraded and replaced every three to seven years, meaning many of the products that were purchased in the Covid era will need to be replaced soon. They point out that Best Buy is one of the last broad-line and hard-line retail stocks in its coverage that experienced a Covid pull-forward that hasn't returned to its historical valuation. Lastly, Best Buy sports an attractive dividend yield of about 4.65%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Bose, hasn't, Jim Cramer, Jim Organizations: Consumer, Management, Microsoft, Electronics, Telsey Advisory, JPMorgan, Federal Reserve, CNBC Locations: Vegas

☆ Buy this 'stealth' home improvement stock as housing market improves, Loop Capital says
▼ + stars: | 2024-03-19 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

It may not be investors' first idea when thinking of home improvement stocks, but Loop Capital sees Best Buy as an under-the-radar pick as the housing market improves. Loop managing director Anthony Chukumba, who has a buy rating on Best Buy, sees the electronics retailer as a potential "stealth housing play." "We were encouraged by the latest macroeconomic data, particularly the ongoing labor market strength and the housing market 'green shoots,'" Chukumba wrote to clients. Chukumba said home furnishing retailers such as Floor & Decor , RH and Williams-Sonoma should also benefit as the housing market improves. Best Buy shares have struggled this year, shedding about 2% and lagging far behind the rest of the market.

Persons: Anthony Chukumba, Chukumba Organizations: Williams Locations: Sonoma, Minnesota

☆ Fed's favorite inflation gauge looms next week — plus, what we want from 2 portfolio earnings reports
▼ + stars: | 2024-02-24 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.

Persons: Dow, we'll, bode, We're, Li Auto, Krystal, Arcutis, MARA, Iovance, Goldman Sachs BDC, CRON, BUD, Papa, LEV, Ginkgo, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nvidia, Nasdaq, Dow Jones, Dow, Palo Alto Networks, Bausch Health, Coterra Energy, Abbott, Companies, TJX, Marshalls, TJX Companies, Berkshire Hathaway, Krystal Biotech, Alpha Metallurgical Resources , Inc, Fidelity National Information Services Inc, Animal Health, ELAN, Public Service Enterprise Group, Surgery Partners, BioCryst Pharmaceuticals Inc, Outdoor Holdings, Enlight Renewable Energy Ltd, Kosmos Energy, Playtika, Video Communications, TiRobot Corp, IRB, SBAC Communications Corporation, HEICO Corporation, FS KKR, Archer Aviation Inc, TransMedics, Sterling Construction Company, AES, Cruise Line Holdings, Lowe's Companies, American Electric Power Company, Bank of Nova, APLS Pharmaceuticals, Bank of Montreal, BMO, Devon Energy, Solar Inc, Technologies, Lab, Virgin Galactic Holdings, Splunk Inc, eBay, EBAY, Luminar Technologies, Agilent Technologies, G Foods, Masimo Corp, Baidu, Parts Inc, Icahn Enterprises, Viatris Inc, ACM Research, Golden Ocean Group, EMCOR, Industries, NRG Energy, Dycom, Editas, UWM Holdings Corporation, Vistra Energy, Marathon Digital Holdings, AMC Entertainment Holdings, Paramount Global, IonQ Inc, International, HP, Monster Beverage Corporation, Cronos, Birkenstock Holding, Anheuser, Busch InBev, Body, Brink's Company, Flags Inc, Papa John's, ACI, Hormel, Lion Electric Company, BlackRock TCP, Dole plc, DOLE, Fisker Inc, Dell Technologies, Ginkgo Bioworks Holdings, Autodesk, Green Brick Partners, Hewlett Packard Enterprise, Veeva Systems, INTTEST Corporation, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: New York City, U.S, Salesforce, Maxx, Bank of Nova Scotia, BlackRock, Cayman

REUTERS/Mike Segar/File Photo Acquire Licensing RightsDec 1 (Reuters) - Retailers like Amazon.com and Foot Locker are signaling optimism for holiday season sales after stronger-than-expected figures during Black Friday and Cyber Monday, as heavy discounts lured budget-strained customers on the peak U.S. shopping days. Early estimates on holiday shopping have been encouraging to some investors after retailers sounded cautious notes in the lead-up to the season. "We know we're buying for wallet share with a value-conscious consumer this holiday season. Deep discounts have been a key feature heading into this year's holiday shopping season and holiday discounts could get even bigger in December, according to some retail executives. Kohl's (KSS.N) CEO Tom Kingsbury said last week the company was "coming out on holiday very aggressively in terms of promotions."

Persons: Mike Segar, Jimmy Lee, we've, Mary Dillon, Tom Kingsbury, Cos, Jason Benowitz, Deborah Sophia, Juby Babu, Pooja Desai Organizations: REUTERS, Adobe Analytics, National Retail Federation, Wealth Consulting, Amazon, Black, BofA, Walmart, Abercrombie, Fitch, American Eagle Outfitters, Roosevelt, Thomson Locations: Robbinsville , New Jersey, U.S, Bengaluru

[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

While the S&P 500 index (.SPX) ended little changed, the Amplify Online Retail ETF climbed 0.4% and the broader SPDR S&P Retail ETF gained about 0.7%. The SPDR S&P Retail ETF, which has net assets of $396.6 million, recorded weekly outflows of $115.6 in the week ended on Wednesday, according to data from Lipper. Still, the bulk of 2023 returns for investors in U.S. retail ETFs have come in recent weeks. The VanEck Retail ETF (RTH.O) has generated half of its 12.8% year-to-date gains in the last two months. But Thomas Hayes, chair at Great Hill Capital LLC in New York, anticipates better-than-expected gains in retail stocks this holiday season.

Persons: Vincent Alban Acquire, Michael Ashley Schulman, Schulman, Thomas Hayes, Suzanne McGee, Lananh Nguyen, Josie Kao Organizations: Woodbury, REUTERS, Exchange, P Retail, Retailers, National Retail Federation, Walmart, United Auto Workers, Hollywood SAG, Running, Retail, Great, Capital, Thomson Locations: Central Valley , New York, U.S, New York

Brokerage TD Cowen lowered its U.S. holiday spending estimate to 2% to 3% growth, from 4% to 5%, as it forecast flat Black Friday traffic. With many consumers squeezed by persistent inflation and high interest rates, U.S. holiday spending is expected to rise at the slowest pace in five years. 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. In France, Italy, and Spain, most shoppers planned to buy clothing on Black Friday, with electronic goods coming second, according to a PwC survey. Thanksgiving Day discounts online peaked at about 28% for toys, while electronics had discounts as steep as 27%, Adobe said.

Persons: Shannon Stapleton, Cowen, Theresa Forsberg, “ It’s, ”, Jill Lizzo, she’s, “, I’m, Lizzo, PwC, hasn’t, Naomi Ojomo, Jeff Gennette, Barbie, John Roberts, Apple AirPods, Bergdorf Goodman, Nordstrom, Oscar de, Katherine Masters, Arriana McLymore, Helen Reid, Mimosa Spencer, Corina Pons, James Davey, Siddharth Cavale, Arriana, Deboarh Sophia, David Gaffen, Miral Fahmy, Nick Zieminski, Frances Kerry Organizations: Black, REUTERS, Shoppers, National Retail Federation, Insider Intelligence, Barclays, Macy's, Adobe Analytics, Adobe, Walmart, Argos, PlayStation, Apple, Thomson Locations: Westbury , New York, U.S, RALEIGH, N.C, New Milford , Connecticut, . U.S, Harlem, Manhattan, France, Italy, Spain, Zara, Canary Wharf, London, British, Paris, Madrid, New York, Raleigh , North Carolina, Bengaluru

☆ Retailers hope to draw picky Black Friday shoppers to stores
▼ + stars: | 2023-11-24 | by ( Katherine Masters | ) www.reuters.com time to read: +5 min

Originally known for crowds lining up at big-box stores in the U.S., Black Friday has moved online and gone global. In France, Italy, and Spain, most shoppers planned to buy clothing on Black Friday, with electronic goods coming second, according to a PwC survey. On average, shoppers in France expected to spend 295 euros ($322) on Black Friday, the survey found. Most U.S. stores were closed on Thanksgiving but opened to shoppers at 5 a.m. or 6 a.m. on Friday. In post-earnings calls this week, retailers from Kohl's (KSS.N) to Nordstrom (JWN.N) told investors they had invested in jackets, cashmere sweaters and Ugg boots to lure Christmas shoppers after an unseasonably warm October.

Persons: Shannon Stapleton, Jessica Ramirez, Jane Hali, Jeff Gennette, Mari Shor, Bergdorf Goodman, Nordstrom, Oscar de, ” Nordstrom, Pete Nordstrom, Katie Wyle, Katherine Masters, Mimosa Spencer, Helen Reid, James Davey, Josie Kao, Miral Fahmy, Frances Kerry Organizations: Black, REUTERS, Retailers, Associates, National Retail Federation, Insider Intelligence, Barclays, Macy's, The New York Police, Nordstrom, Walmart, Columbia Threadneedle Investments, Westfield, Thomson Locations: Westbury , New York, U.S, Europe, France, Italy, Spain, Amazon, Israel, New York City, Kohl's, Mall, Britain, Westfield, Paris, London

Brokerage TD Cowen lowered its U.S. holiday spending estimate to 2% to 3% growth, from 4% to 5%, as it forecast flat Black Friday traffic. With many consumers squeezed by persistent inflation and high interest rates, U.S. holiday spending is expected to rise at the slowest pace in five years. 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. The rise of online shopping has reduced the importance of Black Friday as a single-day event.

Persons: Cowen, David Klink, ”, Barbara Kahn, Theresa Forsberg, Michael Brown, Kearney, Jimmy Lee, Leah Millis, there's, Jeff Gennette, 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, Leslie Adler Organizations: Shoppers, Huntington Private Bank, Walmart, Target, Ross Stores, The Wharton School, University of Pennsylvania, “, National Retail Federation, Garden, Insider Intelligence, Adobe Analytics, Adobe, Wealth Consulting, Amazon, REUTERS, Nordstrom, Saks, Protesters, Puma, Israel Football Association, Thomson Locations: RALEIGH, N.C, U.S, New Milford , Connecticut, Paramus , New Jersey, Wheaton, Glenmont , Maryland, Indianapolis, Israel, Palestine, United States, Dallas, Raleigh, Crabtree, Boston

☆ Best Buy sees steeper decline in annual comparable sales
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

A Best Buy store is seen in Niles, Illinois near Chicago, September 23, 2013. REUTERS/Jim Young/File Photo Acquire Licensing RightsNov 21 (Reuters) - Best Buy (BBY.N) said on Tuesday it expects a steeper drop in full-year comparable sales, anticipating shoppers to remain selective in purchases of big-ticket items like electronics and home appliances despite elevated holiday season promotions. The company's shares, down nearly 15% this year, fell 2.4% in premarket trading after a miss on third-quarter revenue estimates. The top U.S. electronics retailer now expects annual comparable sales to decline in the range of 6.0% to 7.5%, compared with its prior range of a 4.5% to 6.0% drop. Total revenue fell to $9.76 billion in the third quarter ended Oct. 28 from about $10.59 billion a year earlier and compared with LSEG estimates of $9.90 billion.

Persons: Jim Young, Corie Barry, Savyata Mishra, Sriraj Organizations: REUTERS, Thomson Locations: Niles , Illinois, Chicago, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Big Tech stocks, which have powered most of the S&P 500's gains this year, now face an important test, with Nvidia due to report third-quarter results after markets close. Declining issues outnumbered advancers for a 2.33-to-1 ratio on the NYSE and for a 2.04-to-1 ratio on the Nasdaq. The S&P index recorded 19 new 52-week highs and no new low, while the Nasdaq recorded 24 new highs and 36 new lows. Reporting by Amruta Khandekar and Shristi Achar A; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Robert Pavlik, Pavlik, Lowe's Cos, advancers, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Big Tech, Nvidia, Dakota Wealth, Traders, Dow Jones, Kohl's, NYSE, Thomson Locations: New York City, U.S, China

☆ Why Jim Cramer sees upside for Salesforce amid the OpenAI, Microsoft drama
▼ + stars: | 2023-11-21 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. "A lot of [OpenAI] diaspora could be going to Salesforce," Jim Cramer said Tuesday. At the same time, Nvidia stock made a new all-time high Monday, raising the stakes into the print. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Stocks, Sam Altman, Altman, Mark Benioff, Jim, Jim Cramer's Organizations: CNBC, Big Tech, Nasdaq, Treasury, West Texas, Nvidia Locations: China

☆ Best Buy flags weakening consumer demand heading into holiday shopping season
▼ + stars: | 2023-11-21 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

REUTERS/Jim Young/File Photo Acquire Licensing RightsNov 21 (Reuters) - Top U.S. electronics retailer Best Buy (BBY.N) on Tuesday forecast a bigger decline in annual comparable sales and pointed to "difficult to predict" consumer demand, days ahead of Black Friday that signals the start of the holiday shopping season. "In the more recent macro environment, consumer demand has been even more uneven and difficult to predict," CEO Corie Barry said in a statement. Retailers from Lowe's (LOW.N) to Walmart (WMT.N) have warned of cautious consumer spending as the holiday shopping season gets underway. U.S. holiday sales this year are expected to grow at a slower pace, according to data from the National Retail Federation. Best Buy's third-quarter revenue fell 8.2% to $9 billion in the U.S. as demand fell again across appliances, home theater, computing and mobile phones, signaling that higher discounts failed to entice shoppers.

Persons: Jim Young, Corie Barry, Steven Zaccone, Savyata Mishra, Sriraj Organizations: REUTERS, Lowe's, Walmart, National Retail Federation, Citi, Thomson Locations: Niles , Illinois, Chicago, U.S, comparables, Bengaluru

"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

☆ The shortened trading week features earnings from our best stock of the year
▼ + stars: | 2023-11-18 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

After making three trades this week, we're heading into a shortened trading week. NVDA YTD mountain Nvidia YTD Shares of Nvidia closed Nov. 14 at a record high of $496.56 each. Here's the full rundown of all the important domestic data in the week ahead, which also features a slew of earnings from brand-name retailers. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: FactSet, It's, Jim Cramer, NIU, Jack, JACK, Jim Cramer's, Jim, New York Stock Exchange Michael Nagle Organizations: Fed, TJX, Palo Alto Networks, PMI, ISM, Institute for Supply Management, Nvidia, Apple, Technologies, Video Communications, Agilent Technologies, Baidu, Abercrombie, Fitch, Burlington Stores, Eagle Outfitters, Dick's Sporting, Autodesk, HP, Nordstrom, Urban Outfitters, Deere & Company, CNBC, New York Stock Exchange, Bloomberg, Getty Locations: U.S, China

LSEG Workspace, a financial news and data platform, calculated inventory turnover ratios of 30 major U.S. retailers for Reuters. "I am relatively pessimistic about the holiday season," said Gerald Storch, retail consultant and former Target vice chairman and ex-CEO of Hudson's Bay. Department stores' holiday season is "likely not going to be that strong," said David Swartz, a Morningstar analyst. Reuters Graphics Reuters GraphicsTo be sure, inventory turnover is not the only metric Wall Street investors use to judge retailers' inventory levels. Some are already slashing prices and dangling discounts to clear excess inventory before Black Friday, the start of holiday shopping season.

Persons: King, King of Prussia, Sarah Silbiger, Gerald Storch, Jeff Bornino, David Swartz, Ulta, pare, Jason Benowitz, Joseph Feldman, Jane Hali, Nordstrom, Brian Mulberry, Savyata Mishra, Ananya Mariam Rajesh, Richa Naidu, Siddharth Cavale, Aishwarya Venugopal, Rod Nickel Organizations: REUTERS, Dollar, Walmart, Reuters, North America, Kroger, Department, Morningstar, TJX Companies, Dick's Sporting, Reuters Graphics Reuters, Roosevelt, Telsey Advisory, Research, Associates, Nordstrom, Zacks Investment Management, Thomson Locations: King of, King, King of Prussia , Pennsylvania, U.S, Hudson's, North

☆ Here are Thursday's biggest analyst calls: Tesla, Netflix, Best Buy, Amazon, First Solar, Disney & more
▼ + stars: | 2023-10-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"Based on our analysis, we see FIS as undervalued at 9x '24 P/E and upgrade to Overweight from Equal Weight." "We upgrade shares of KTB to Buy from Neutral and see 22% upside to our new $56, 12-month price target. Goldman Sachs upgrades Best Buy to buy from neutral Goldman said it sees multiple expansion for the electronic retailer. Can a 'growth stock' work if earnings don't grow in 2024? JPMorgan upgrades First Solar to overweight from equal weight JPMorgan said it sees an attractive entry point for the solar company.

Persons: Goldman Sachs, Goldman, Lee, Morgan Stanley, Tesla, Oppenheimer, it's bullish, Jefferies, CrowdStrike, we've, outperforming ytd, Bernstein, Disney, Wells Organizations: Street, Barclays, Fidelity National Information Services, Brands, Nike, Netflix, Disney, ESPN, Citi, Microsoft, UW, NA, Deutsche Bank, Starbucks, Deutsche, Bank of America, of America, JPMorgan Locations: destocking, Mexico, Wells Fargo, China, OW, Aptiv

☆ Goldman Sachs sees demand for tech products driving this retail stock up 20%
▼ + stars: | 2023-10-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Best Buy shares are poised to rise over the next year thanks to growing demand for certain tech products, according to Goldman Sachs. "We see the potential for a positive demand inflection to drive upside, primarily through multiple expansion," said Kate McShane, an analyst at the firm. "We believe the company's current valuation is not taking into account this potential inflection and is most likely factoring in broader concerns regarding the health of the consumer and potential near-term demand headwinds." BBY 6M mountain Best Buy shares over the past six months "Our view for a potential inflection is supported by recent commentary surrounding stabilizing demand for certain tech products" – specifically, TVs and laptops, she added. "We see the potential for demand to stabilize and/or recover next year, supported by innovation and the upgrade/replacement cycle."

Persons: Goldman Sachs, Kate McShane, Goldman, McShane, — CNBC's Michael Bloom

☆ 3-Stock Lunch: NFLX, BBY & T
▼ + stars: | 2023-10-19 | 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 Email3-Stock Lunch: NFLX, BBY & TKatie Stockton, Fairlead Strategies, joins ‘Power Lunch’ to discuss three stocks: Netflix, Best Buy and AT&T.

Persons: Katie Stockton Organizations: Netflix

In the past year, clothing retailers have sought to clear excess stock that had piled up due to a shift in consumer demand to essentials from discretionary items like clothing. But with fourth-quarter temperatures expected to start off warm, according to weather tracking firm Weather Trends International, stores carrying winter styles and gear could find themselves loaded with inventory at the end of the season. European company Pepco Group (PCOP.WA) also noted that the landing of its autumn and winter clothing inventory had coincided with persistent record-warm weather in its core Central and Eastern European markets. In the United States, temperatures could rise by 2 to 12 degrees Fahrenheit on average in the October-December period compared with last year, according to Weather Trends International. Abercrombie & Fitch (ANF.N) also said there was strong demand for "seasonless products" in the second quarter, particularly in the men's category, as customers picked out year-round clothing items and styles.

Persons: Helena Helmersson, Andy Bond, Bill Kirk, Clodagh, David Swartz, Robert Woods, Kristen D'Arcy, Abercrombie, Simon Wolfson, Ananya Mariam Rajesh, James Davey, Helen Reid, Matthew Lewis Organizations: Reuters, Pepco, Amazon.com, REUTERS, Walmart, Dick's Sporting, Costco Wholesale, Morningstar Research, Vision Brands, Fitch, Thomson Locations: United States, Europe, Cos, Eastern, Grafton, Dublin, Ireland, outerwear, Bengaluru, London

☆ Target to hire 100,000 workers, start holiday promotions in October
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

Shoppers wait in line at Target on the Thanksgiving Day holiday in Burbank, California, November 22, 2012. REUTERS/Jonathan Alcorn/File Photo Acquire Licensing RightsSept 19 (Reuters) - Target (TGT.N) said on Tuesday it would hire nearly 100,000 employees for the holiday season, a number that has been consistent over the last two years, and offer discounts as early as October to attract inflation-weary shoppers. In 2022, Amazon.com (AMZN.O) had announced plans to hire 150,000 employees across its operations for the holiday season, while retail bellwether Walmart (WMT.N) had said it would add 40,000 workers in seasonal and full-time roles. Macy's said on Monday it would hire more than 38,000 full and part-time seasonal workers, fewer than the 41,000 workers it had announced to hire in 2022. In a bid to draw shoppers, Target said it would start offering items under $25 across categories including apparel, home goods, and essentials and was hosting a "Deal of the Day" program starting October.

Persons: Jonathan Alcorn, Macy's, Steve Sadove, Ananya Mariam Rajesh, Deborah Sophia, Rashmi Aich, Anil D'Silva Organizations: REUTERS, Mastercard, Challenger, Walmart, Thomson Locations: Target, Burbank , California, U.S, Bengaluru

Shoppers wait in line at Target on the Thanksgiving Day holiday in Burbank, California, November 22, 2012. REUTERS/Jonathan Alcorn/File Photo Acquire Licensing RightsSept 19 (Reuters) - Target (TGT.N) said on Tuesday it would hire nearly 100,000 employees for the holiday season, like in the past two years, and start offering discounts for the festive period as early as October. However, Amazon.com (AMZN.O) on Tuesday announced plans to hire 250,000 workers for the holiday season, higher than the 150,000 it planned to bring in last year. Macy's said on Monday it would hire more than 38,000 full and part-time seasonal workers, fewer than the 41,000 workers it had announced to hire in 2022. Major retailers, including Target, have warned of a hit to profit resulting from inventory theft.

Persons: Jonathan Alcorn, Macy's, Jessica Ramirez, Jane Hali, Sarah Henry, Henry, Ananya Mariam Rajesh, Deborah Sophia, Arun Koyyur, Anil D'Silva Organizations: REUTERS, Mastercard, Challenger, Tuesday, Retail bellwether Walmart, Associates, Target, Logan Capital Management, Thomson Locations: Target, Burbank , California, United States, Bengaluru

☆ Back-to-school US spending set to hit record high in 2023
▼ + stars: | 2023-09-01 | by ( Kailyn Rhone | ) www.reuters.com time to read: +4 min

The National Retail Federation, a retail trade group, predicts spending will surpass $135 billion, an increase of more than $24 billion from last year. “The larger the school, the more they are needed,” said Leslie Sparacello, a school superintendent in Austin, Texas, whose former school required clear backpacks. Clear backpacks available on Amazon.com's (AMZN.O) marketplace are priced starting at $9.97, according to its website. A spokesperson said Walmart has recorded an increase in demand for clear backpacks in the last two back-to-school seasons, specifically in Texas, Florida and Mississipi. The company has a separate section for clear backpacks under its backpack category starting at $4.89.

Persons: Mike Blake, jean, ”, Chip West, Melissa Cohen, Polo Ralph Lauren, Nikki Mcneri, Mcneri, Leslie Sparacello, Calvin McDonald, West, Matthew Bilunas, Josie Kao Organizations: REUTERS, National Retail Federation, MBC Consulting, Walmart, Kailyn Rhone, Thomson Locations: Encinitas , California, U.S, Georgia, jorts, Austin , Texas, Canada, Texas , Florida

☆ A mixed picture for retailers as bargain-hunting shoppers pick their spots
▼ + stars: | 2023-08-29 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +3 min

A sale sign greets shoppers at a retail store in Carlsbad, California, U.S., May 25, 2023. Sephora "performed exceptionally well" with strength in North America in the first half of the year, the beauty retailer's owner LVMH (LVMH.PA) said last month. Retailers have also flagged the impact from Americans prioritizing experiences like movies, vacations and concerts over discretionary purchases. Tempered forecasts from sportswear retailers Foot Locker (FL.N) and Dick's Sporting Goods (DKS.N) also added to the mixed picture, with Dick's also citing an increase in organized retail crime and theft at stores. Reporting by Deborah Sophia in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Edward Jones, Brian Yarbrough, LVMH, Yarbrough, Dick's, Corie Barry, Liza Amlani, We've, Christina Hennington, Deborah Sophia, Sriraj Organizations: REUTERS, Ross Stores, Walmart, Dick's Sporting, Electronics, U.S . Labor Department, Thomson Locations: Carlsbad , California, U.S, North America, Bengaluru

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