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Here's why Costco has the best customer loyalty
  + stars: | 2024-06-21 | 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 Costco has the best customer loyaltyMichael Lasser, UBS analyst, joins Money Movers to discuss which retail company has the best customer loyalty, which companies need to improve, and much more.
Persons: Michael Lasser Organizations: Costco, UBS, Movers
Most of the earnings reports — 25 out of 32 portfolio names — were ranked as good or great by the Investing Club. Similar to prior quarters, we grouped company results into one of four categories. Meta Platforms : Sales, earnings and cash flow results all topped expectations . However, sales and earnings both outpaced expectations, as did return on tangible common equity, a key consideration when valuing banks. The company also raised its outlook for full-year earnings growth to 25% year-over-year from 20%.
Persons: we're, Dover, Eli Lilly, Blackwell, Abbott, , Wall, We'll, Morgan Stanley, Nikesh, Stanley Black, Wells, Estee Lauder, Fabrizio Freda, Jim Cramer's, Jim Cramer, Jim, Hock Tan, Broadcom Lucas Jackson Organizations: Investing, Apple, Services, Broadcom, VMware, Coterra, DuPont, Microsoft, Nvidia, Wynn Resorts, Super, Abbott Labs, Web Services, Constellation Brands, Constellation, Ford, Ford Pro, Wall Street, Alto Networks, Procter & Gamble, TJX, GE Healthcare, Honeywell, Linde, Jim Cramer's Charitable, CNBC Locations: Dover, China, Eaton, Las Vegas, China's Macao, billings, Wells Fargo,
Vitamix recalls almost 570,000 blender parts
  + stars: | 2024-06-20 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +2 min
After dozens of reports of lacerations from exposed blades, Vitamix announced a recall of about 569,000 blending containers and blade bases for its high-powered blenders. All affected customers should immediately stop using the recalled parts, the company said, and contact Vitamix for a repair kit. Vitamix instructed customers who repaired their blenders in the 2018 recall to stop using those blender parts as well. The recall affects all Ascent and Venturist Series 8-ounce blending containers, 20-ounce blending containers, and blade bases. Ascent blenders can retail for up to $749.95 and the Venturist V1200 can retail for up to $549.95 on the Vitamix website.
Persons: Vitamix, Williams Organizations: New, New York CNN, CNN, Consumer Product Safety, Costco, Walmart, QVC Locations: New York, Target, Williams Sonoma
A manager who has been with the company over 20 years shared his best tip for getting promoted. "Move to some of the areas where they're growing," he told Business Insider. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Business Insider spoke with a manager who joined the company more than 20 years ago slinging hot dogs in the warehouse food court to make money for college. This story is available exclusively to Business Insider subscribers.
Persons: , Ron Vachris Organizations: Costco, Service, Business
This is according to a detailed internal document obtained by Business Insider that reveals a host of new information and insights about Amazon's book business and the broader publishing landscape. Reliable data on this industry is limited or tightly controlled, so it's sometimes difficult to get handle on the scope of the book business. "Monopoly power"Amazon's book business has drawn antitrust scrutiny over the years. The company doesn't publicly disclose book sales, nor does it give a revenue breakdown of each retail category. The US accounts for over half of the salesThe document reveals a few staggering numbers that show how big Amazon's book business is.
Persons: , John Warren, George Washington University's, doesn't, Lindsay Hamilton, Noble, Warren, Hamilton Organizations: Service, Business, Amazon, Federal, American Booksellers Association, FTC, Justice Department, BI, GMS, Barnes, Costco, Pew Research Center, George Washington University Locations: Germany, Japan, France, Italy, Spain, Australia
May retail sales rise 0.1%, weaker than expected
  + stars: | 2024-06-18 | by ( Jeff Cox | ) www.cnbc.com   time to read: +2 min
A worker assists with check-out at a Costco store in Teterboro, New Jersey, US, on Wednesday, Feb. 28, 2024. Retail spending was weaker than expected in May as consumers continued to wrestle with stubbornly higher levels of inflation. Sales rose just 0.1% on the month, one-tenth of a percentage point below the Dow Jones estimate, according to a Commerce Department report Tuesday that is adjusted for seasonality but not inflation. On a year-over-year basis, sales rose 2.3%. The sales number was worse when excluding autos, with a decline of 0.1% against the estimate for a 0.2% increase.
Persons: Dow Jones, Patrick Harker Organizations: Costco, Commerce Department, Federal Reserve, Fed, Philadelphia Fed Locations: Teterboro , New Jersey, US
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSam's Club CEO on how Gen Z and Millennials are driving the company's growthChris Nicholas, Sam's Club CEO, joins 'Money Movers' to discuss what the chief executive is seeing from the consumer, how Sam's Club differentiates from the Costco's of the world, and much more.
Persons: Chris Nicholas Organizations: Sam's
I compared premade frozen beef patties from Wegmans, Costco, and Whole Foods to find the best one. I loved the burger patties from Whole Foods because they were full of great flavor. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen it comes to summer cooking, I always like to have frozen burger patties on hand. This story is available exclusively to Business Insider subscribers.
Persons: , They're Organizations: Costco, Foods, Service, Business Locations: Wegmans
Investors worried about concentration risk in the market may want to consider value-oriented investments. Avantis' U.S. Large Cap Value ETF (AVLV) tracks the Russell 1000 Value index, but with a caveat — the fund managers screen stocks using a profitability overlay. After Apple and Meta , the Large Cap Value fund's next-largest holdings are JPMorgan , Costco and Exxon Mobil , according to FactSet. Avantis' Large Cap Value ETF is up 7.7% in 2024, as of Friday's market close. The Russell 1000 Value index gained 4.5% during the same period.
Persons: Phil McInnis, CNBC's, McInnis Organizations: Avantis Investors, Apple, Meta, JPMorgan, Costco, Exxon Mobil, Financial
Costco has made headlines selling gold bars from Swiss and South African refineries. Collectors are tracking a dozen or so other gold and silver products the company has sold. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBy now most folks have heard that Costco sells a lot of gold. But while the coverage has focused largely on gold bars from Swiss and South African refineries, the wholesale club's precious metals offering is much bigger.
Persons: Organizations: Costco, Service, Business Locations: Swiss
Piper Sandler reiterates Pinterest as a top pick Piper said it's sticking with its overweight rating on the stock. JPMorgan reiterates Amazon as overweight JPMorgan said the e-commerce giant remains a top pick at the firm. The firm also says it's sticking with its outperform rating on Apple. "We are reiterating our Buy rating and raising our price target on shares of Costco from $890 to $940." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla .
Persons: Bernstein, it's, D.A, Davidson, KBW, Tesla, underperform Bernstein, Musk, Piper Sandler, Pinterest, Piper, Evercore, Morgan Stanley, Sunrun, Guggenheim, Macquarie, Roblox, TD Cowen, Cowen, Michael Colglazier, Morgan Stanley downgrades Twilio, JPMorgan, GenAI, Wolfe, Elon Organizations: Bank of America, Elon, Spotify, UBS, TPC, Galactic, America, JPMorgan, Adobe, " Bank of America, Hasbro, of America, Monopoly, Apple, Baidu, Apple Intelligence, Costco, Nvidia, Tesla Locations: China
Stock splits, long out of favor, are making a comeback. Notable stock splits in 2024(when distributed)Walmart 3-1 2/23/24Cooper Companies 4-1 2/16/24Texas Pacific Land 3-1 3/27/24Old Dominion Freight Line 2-1 3/27/24Nvidia 10-1 6/7/24Amphenol 2-1 6/11/24Chipotle Mexican Grill 50-1 6/25/24Broadcom 10-1 7/12/24Williams-Sonoma 2-1 7/8/24Cintas 4-1 9/11/24Sony Group 5-1 10/8/24Lam Research 10-1 10/3/24Why the comeback in stock splits? Stock splits are far less common now than 20 or 30 years ago. During the tech and internet bubble of the late 1990s, stock splits were common. By the mid-2000s, roughly 5% of the Russell 1000 members split their stock each year, and after the great financial crisis from 2008-2009, stock splits practically ceased.
Persons: Williams, David Kostin, Goldman Sachs, Russell, Chipotle Organizations: New York Stock Exchange, Stock, Walmart, Sonoma, Broadcom, Cooper, Pacific, Dominion Freight, Sony, Institutional, Nvidia, Risk, Financial Management, Lam Research, Booking Holdings, Costco, Micro, Spotify Locations: Williams, Sonoma
Analyst Brian Essex upgraded Zscaler to overweight from neutral and raised his price target to $230 per share from $205. The bank upgraded the software stock to overweight from neutral on Friday, and raised its price target to $580 per share from $570. Champine reiterated a buy rating on the wholesaler and raised its price target to $940 per share from $890. The analyst upgraded shares of BofA to outperform from market perform and raised his price target to $46 per share from $37. He has an overweight rating and a price target of $52, implying upside of 20% over the next 12 months.
Persons: KBW, Piper Sandler, Pinterest, Brian Essex, Essex, — Brian Evans, Mark Murphy, Laura Champine, Champine, Keefe, David Konrad, Konrad, Brian Evans, Thomas Champion, Fred Imbert Organizations: CNBC, of America, JPMorgan, Security, Zero Trust Network Security, Adobe, Wall, Costco, Bank of America, Bank, America Locations: U.S, Los Angeles
“Making It Work” is a series is about small-business owners striving to endure hard times. While many people can conjure up romantic visions of a Montana ranch — vast valleys, cold streams, snow-capped mountains — few understand what happens when the cattle leave those pastures. Even here, in a state with nearly twice as many cows as people, only around 1 percent of the beef purchased by Montana households is raised and processed locally, according to estimates from Highland Economics, a consulting firm. As is true in the rest of the country, many Montanans instead eat beef from as far away as Brazil. Any ranchers who want to break out from this system — and, say, sell their beef locally, instead of as anonymous commodities crisscrossing the country — are Davids in a swarm of Goliaths.
Persons: don’t, JBS, Tyson, Davids Organizations: Highland Economics, Tyson Foods, Cargill, Foods, Walmart, Costco Locations: Montana, Brazil
June's historical average return comes out at just 0.1% while July typically sees a 1.2% gain, according to Stovall. Summer exception This summer could prove to be an exception to the typical summer lull, given the upcoming presidential election, Stovall said, noting that the broad market index has posted an average 3.7% summer increase during the 19 election years since World War II. Ahead of this year's election, Stovall expects a few aerospace and defense contractors to stand out. Other areas of the market that should survive and thrive during a slow summer period are consumer staples companies, tobacco names, health-care distributors and pharmaceuticals, Stovall said. Costco and Walmart shares are up roughly 29% and 2% this year, respectively, posting strong returns as consumers have become more motivated by price and value in a high-inflation environment.
Persons: Sam Stovall, Stovall, CFRA, Eli Lilly, Lockheed Martin, Morgan Stanley, Becton Dickinson, Christopher Horvers, FactSet Organizations: Day, Labor, Walmart, Lockheed, Dynamics, Republicans, Costco, JPMorgan
This article is part of "My Financial Life," a series helping people live and spend better. This as-told-to essay is based on a conversation with Prisca Benson, a 34-year-old writer for the blog Our Green Life. Last year my husband's work slowed down; he basically worked the equivalent of about five or six months out of the year. It's a testament to intentional spending in the long term. Because this could be literally devastating — if you were living paycheck to paycheck, a loss of 25%, 30%, 40% of your income would decimate you.
Persons: Prisca Benson, Benson, , it's, I'm, hasn't, It's, We're Organizations: Service, Costco, Tropicana, Google Locations: Bali , New Orleans, Atlanta, Italy
Read previewThis as-told-to essay is based on a conversation with a Chicago-area Costco forklift driver who requested anonymity as they are not authorized to speak with the media. I was a supervisor in the warehouse and then ultimately settled down as a forklift driver. Typically, Costco forklift drivers are seen kind of like supervisors, because you designate the flow of the building. I also make more as a forklift driver now than I did ten years ago as a supervisor. You can't keep it on the floor, so you're gonna have to rack it on tall steel shelves, and you're gonna eventually have to bring that stuff down.
Persons: , I'm, it's, they've, There's, there's, — there's, let's Organizations: Service, Costco, Business, OSHA, Gatorade Locations: Chicago, Kirkland
Kirkland Signature, Costco's private label brand, has won the company some die-hard fans. Non-fuel sales reached $56 billion last year, or nearly a quarter of Costco's annual revenue. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But some customers are even more enthusiastic about a brand they can only get from the warehouse club: Kirkland Signature. For nearly 30 years, Costco's private label brand has been winning the company some die-hard fans with products that are easily as good — or better — than their national brand competitors, and priced as much as 20% less.
Persons: Kirkland, Organizations: Service, Costco, Kirkland, Business
But you can get one of the chain's best deals without ever setting foot in the store. That's because Costco loyalists know there's no better place to buy gasoline than at the wholesale giant's pumps, which regularly undercut the competition. Costco said in its report that it believes its gasoline business "enhances traffic in our warehouses." Even if you're not a Costco shopper, the savings on gasoline alone can make the price of a $60 membership worthwhile. Using a little back of the envelope math, David and Susan conservatively estimate that a member would only need to drive 7,500 miles per year while exclusively buying Costco gas before their membership pays for itself.
Persons: David Schwartz, Susan, David Organizations: Costco, Exxon, CNBC
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Jim Cramer has been calling for Ford, a CNBC Investing Club portfolio name, to do a buyback, too. But now that's reflected in the stock," Cramer said. Cramer said this research note was so negative that "I don't care that i[Cleveland-Cliffs] is down 28% for the year. "Gratuitous neutral," Cramer said.
Persons: Jim Cramer's, Jim Cramer, Ford, Cramer, Morgan Stanley, it's Organizations: CNBC, Club, General Motors, Ford, Shopify, JPMorgan, Cliffs, GE Vernova, Citi, Costco Locations: Cleveland
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. "Southwest Air is an underperformer for many, many years, but it does have a good balance sheet," Jim Cramer said. "I'm not so sure they're as high as people think," Cramer said. The CNBC Investing Club has long owned Nvidia , the dominant maker of AI chips. And yet if you look at the long term, Palo Alto has been very good," Cramer said.
Persons: Jim Cramer's, Elliott, Jim Cramer, Ben Reitzes, Cramer, you've, Morgan Stanley, Lisa Su's, GoDaddy, George Kurtz Organizations: CNBC, Club, Southwest Airlines, Elliott Management, Melius, Adobe, Devices, Nvidia, Walmart, JPMorgan, Costco, Investing Club, KKR, Palo Alto, Palo Alto Networks Locations: Texas, , Palo Alto
General Motors is turning to Costco's Auto Program to help it sell more EVs. An executive told CNBC selling EVs to Costco's 50 million members was a "huge opportunity" for GM. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGeneral Motors is turning to Costco to help it sell more EVs. GM North America President Marissa West told CNBC she saw a "huge opportunity" to sell EVs to Costco's 50 million-plus US membership base and that GM was exploring new ways to build its partnership with the wholesaler.
Persons: , Marissa West Organizations: Motors, Auto Program, CNBC, GM, Service, Costco, Detroit, Costco's Auto Program, GM North America, Business
But this heavy focus on just a few stocks has led one portfolio manager to urge investors to diversify, naming two stocks he thinks look particularly attractive. Dunn, who also holds the title of co-head of value equity at Morgan Stanley, said other stocks offered investors "a lot of opportunity," naming two he likes. Thermo Fisher Scientific Healthcare services and biotechnology company Thermo Fisher is another favorite for Dunn, who sees it as an industry leader and "supermarket of tools and analytics." "We think [Thermo Fisher is] really ready to sort of benefit from this as the year progresses." Shares in Thermo Fisher are up around 9.5% year-to-date and 12.8% in the last 12 months.
Persons: Nvidia, Aaron Dunn, CNBC's, Dunn, Morgan Stanley, They've, BJ's Organizations: Big Tech, Apple, Meta, Microsoft, Tesla, Morgan, Value, Costco Wholesale, Walmart, Sam's, Fisher Scientific Healthcare, . Value Locations: Morgan Stanley's, U.S, Fisher
Everybody, including Costco, is chasing Amazon, which accounts for 45% of all U.S. e-commerce sales, according to JPMorgan in a research note Monday. While unlikely to compete at the level of Amazon or Walmart online in the near future, Costco could carve out a lucrative e-commerce lane with its loyal, value-orientated customers. Engaged members want to spend more online at Costco "given the value/quality and cash back," the analysts added. Costco has an "incredible opportunity to better target customers and leverage its rich database of perfect data and is still in its early innings" of e-commerce, JPMorgan said. Adding to the e-commerce story, JPMorgan cited the Costco Logistics network, which has amped up "e-commerce fulfillment of bulky items."
Persons: Jim Cramer, Morgan Stanley, Gary Millerchip, Instacart, Jim Cramer's, Jim, John Keeble Organizations: Costco, JPMorgan, Walmart, Amazon, Target, Kroger, Costco Logistics, Logistics, CNBC, Lakeside, Getty Locations: Grays, United Kingdom
My family tried plain Greek yogurt from four grocery stores and ranked them from worst to best. I found Trader Joe's Greek nonfat yogurt too tangy, and my daughter gave it a thumbs down. The organic plain nonfat Greek yogurt from Wegmans had the perfect subtle flavor. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In fact, according to market intelligence company Skyquestt, the global Greek yogurt market is worth billions.
Persons: Organizations: Service, Business Locations: Wegmans, carbs
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