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☆ This is Goldman Sachs' favorite retail stock for 2023
  + stars: | 2022-12-12 | by ( Carmen Reinicke | ) www.cnbc.com   time to read: +3 min
Investors are carefully watching the retail sector going into 2023 for signs of a slowing economy and consumer weakness. Still, there are some stocks that are poised to gain even in an uncertain environment, according to Goldman Sachs. At the same time, Goldman downgraded shares of Ulta to neutral from buy, citing tougher growth in 2023 after a solid year. It has sell ratings on shares of Bed Bath & Beyond, Big Lots and Williams-Sonoma. On the flip side, it has buy ratings on shares of Walmart, O'Reilly Automotive, BJ's Wholesale Club, Dollar General, Dicks Sporting Goods, Five Below and more.
☆ Dollar General cuts annual profit view as costs surge
  + stars: | 2022-12-01 | by ( ) www.reuters.com   time to read: +2 min
Freight, labor and other supply chain-related costs have jumped for U.S. retailers, while excess inventory levels have also forced them to offer deep discounts to spur demand. While margins have been pressured across the retail industry, Tennessee-based Dollar General said it was also seeing inefficiencies within its own supply chain. Unexpected delays in acquiring additional warehouse space to store inventory resulted in higher-than-expected distribution and transportation costs, according to the company. Dollar General, which in July named insider Jeff Owen its new chief executive, saw its gross margin fall by 27 basis points to 30.5% in the third quarter. Dollar General now expects fiscal 2022 earnings per share to increase about 7% to 8%, compared with its prior outlook of a rise of about 12% to 14%.
☆ DoorDash is laying off 6% of its staff, and it's a warning for the entire food delivery business
  + stars: | 2022-11-30 | by ( Jordan Hart | Nancy Luna | ) www.businessinsider.com   time to read: +4 min
CEO Tony Xu said DoorDash is laying off 1,250 people in a Wednesday memo, Bloomberg reports. In the third quarter, DoorDash logged a $308 million loss from operations. The Covid-19 pandemic served as a big boost for DoorDash and food delivery services like it. Hundreds of workers have lost their jobs at restaurant tech startups like Nextbite, Sunday, ChowNow, Lunchbox, Gopuff, and Reef. The company has been pouring its resources into expanding outside of traditional restaurant delivery over the past year by striking delivery partnerships with supermarkets, convenience stores, and retailers.
☆ The November jobs report and the Fed matter most to markets in the week ahead
  + stars: | 2022-11-25 | by ( Patti Domm | In | ) www.cnbc.com   time to read: +8 min
November's jobs report is the big event for markets in the week ahead, and it could provide important insight into the path of Federal Reserve interest rate hikes. The labor market has cooled only slightly, as other parts of the economy have slowed. But the labor market has been more resilient than expected, challenging the Fed's efforts to tame inflation by slowing economic activity. Besides the jobs report, there is the Job Openings and Labor Turnover Survey (JOLTS) report Wednesday, as well as the Fed's beige book on economic activity. "Holding above 4,000, as we await the jobs report and those other economic reports would be constructive for one more move before Christmas," he said.
☆ Stocks finish higher as the Street awaits key inflation data next week
  + stars: | 2022-11-25 | by ( Zev Fima | ) www.cnbc.com   time to read: +4 min
Stocks finished higher on this holiday-shortened trading week, with all the major U.S. averages posting gains. Under the hood, all sectors closed higher for the week, led by utilities, materials and financials. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. The U.S. Federal Reserve, alongside global central banks, has been trying to get a handle on soaring inflation.
☆ What's open and closed on Thanksgiving
  + stars: | 2022-11-24 | by ( Jennifer Korn | ) edition.cnn.com   time to read: +2 min
Many stores that were once open on Thanksgiving have changed policy since the pandemic, shuttering for the day before Black Friday sales. Here are the businesses and institutions that will be open and closed on Turkey Day. We’ll again be closed on Thanksgiving,” Walmart (WMT) US CEO John Furner said in an October interview on NBC. Costco (COST), Home Depot (HD), Nordstrom (JWN), Publix, Sam’s Club, Trader Joe’s and others have been closed on Thanksgiving for many years. As for retail pharmacies on Thanksgiving Day, CVS, Walgreens and Rite Aid will be open with varying hours.
☆ Analysis: Kohl's snub of big sale-leaseback sets up new clash with hedge funds
  + stars: | 2022-11-22 | by ( Abigail Summerville Svea Herbst-Bayliss | Abigail Summerville | Svea Herbst-Bayliss | ) www.reuters.com   time to read: +6 min
Sale-leasebacks allow retailers to raise capital without shedding stores by selling the underlying real estate and turning them from landlords into tenants. They also point out that companies often spend the money on share buybacks and dividends rather than investing in their business. Spokespeople for Kohl's, Macellum and Ancora declined to comment. It is not clear how many of Kohl's 1,100 stores would have been involved in any deal. Reuters GraphicsRENT EXPENSESIn a letter to shareholders in March defending its strategy against criticism from hedge fund Macellum Capital Management LLC, Kohl's said that a "large" sale-leaseback would "negatively impact margins by adding unnecessary rent expenses in perpetuity and risk Kohl's investment-grade rating".
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☆ DoorDash Analysts Optimistic on the Firm's Grocery and Retail Growth
  + stars: | 2022-11-02 | by ( Nancy Luna | ) www.businessinsider.com   time to read: +5 min
Expanding selection has made DoorDash resilient as restaurant-delivery growth declines and recession worries grip consumers, analysts say. "DoorDash's greater selection, convenience, and value are proving resilient," Andrew Boone, a JMP Securities analyst, said in a note earlier this year. Last month, DoorDash surpassed 75,000 retail stores on its platform, up from 40,000 a year ago. DoorDash opened the first DashMart in 2020, and the convenience stores have grown to 25 locations in cities in the US and Canada. "DoorDash is going to strangle Instacart using their own system," the grocery and supply-chain consultant Brittain Ladd told Insider.
☆ DoorDash is making 7 keys moves to dominate retail and grocery delivery after conquering restaurants — and creating new rivals in Instacart and Gopuff
  + stars: | 2022-10-27 | by ( Nancy Luna | ) www.businessinsider.com   time to read: +12 min
In August 2020, DoorDash launched retail delivery with chains like 7-Eleven and Walgreens. Lately, DoorDash has its sights set on a new prize — dominance in retail and grocery delivery. DoorDash has leaned heavily into grocery, convenience-store, and retail delivery since launching these expanded services in 2020. "We have more retail stores, grocery included, than any other platform in North America today." DoorDashDoubleDashA year after launching grocery delivery, DoorDash introduced DoubleDash.
☆ These are the most heavily shorted stocks on Wall Street, including one soaring pharma name
  + stars: | 2022-10-12 | by ( Nick Wells Fred Imbert | Nick Wells | Fred Imbert | ) www.cnbc.com   time to read: +1 min
Investors seem to be mounting bets against some biotech and pharma names, including one that has soared in 2022. Short interest in Verve rose to 12 million shares, or 34% of its float, while 27.6 million shares of Allogene were being shorted through the end of September. Retailers Bed Bath & Beyond and Big Lots, along women's fashion company Torrid Holdings, also saw increased short interest. Short interest data is updated twice a month and reported mid-month and at the end of the month. The next release date is Oct. 25 for short interest data as of Oct. 14).
☆ Here are Monday's biggest analyst calls: Apple, Amazon, Adobe, Peloton, Bed Bath & Beyond and more
  + stars: | 2022-09-19 | by ( Michael Bloom | ) www.cnbc.com   time to read: +6 min
Oppenheimer reiterates Peloton as outperform Oppenheimer said it sees signs that Peloton's turnaround is starting to take hold. Bank of America reiterates Amazon as buy Bank of America noted that Amazon is poised to gain share, especially after FedEx's disappointing earnings report last week. JPMorgan reiterates Apple as overweight JPMorgan said in a note that demand remains "elevated" for Apple's latest iPhone models. Jefferies reiterates Bed Bath & Beyond as hold Jefferies said its analysis shows retailers such as Walmart and Target are key beneficiaries of Bed Bath & Beyond store closures. "After reviewing locations of upcoming Bed Bath store closures, we believe Walmart, Target, and Big Lots will be prime beneficiaries of sales transfer.
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