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☆ Walmart cuts price of Walmart+ for households that receive food stamps, other government aid
▼ + stars: | 2023-07-20 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

The nation's largest retailer said Thursday that it will cut the price of Walmart+ in half for those low-income households. Walmart has not disclosed total Walmart+ subscribers, but said about a quarter of its members get government assistance. Walmart launched Walmart+ in 2020 to hook shoppers and increase the likelihood of them spending more on its website and in stores. Along with the Walmart+ discounted price, Walmart said it has made it easier for families receiving food aid to shop online. It said it now accepts SNAP online in all 50 states.

Persons: Doug McMillon, Morgan Stanley Organizations: Walmart, Nutrition, SNAP, United States Department of Agriculture, Amazon Prime, Costco, Sam's, Paramount, Consumer Intelligence Research Partners, Walmart Connect Locations: U.S, Alaska

☆ As Macy's stock struggles, the retailer bets on private brands with more modern looks
▼ + stars: | 2023-07-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

NEW YORK — Macy's , the 165-year-old department store chain, is looking for ways to keep up with the newer kids on the block. On Wednesday, it showed off its newest private brand, On 34th, at its Macy's Herald Square flagship. The brand, named after the legacy store's Manhattan location, is made of up of women's clothing and accessories. The department store operator cut its full-year outlook last month, after seeing consumers pull back on purchases of clothing and other items. Some of Wall Street's worries are company-specific, as investors question whether the legacy department store can keep up with shoppers' changing tastes.

Persons: Tony Spring, Jeff Gennette, Nata Dvir, Gennette, Macy's Organizations: NEW, Target, Herald, Consumers Locations: Manhattan

☆ Barbie is all the buzz this summer — and retailers hope it will make cautious consumers spend
▼ + stars: | 2023-07-18 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

Bloomingdale's is just one of the retailers and brands trying to tap into Barbie buzz. With a splash of hot pink, retailers hope to chase away the summer doldrums and inflation blues. About half of Aldo's Barbie collection sold out in the first week. So far, the Barbie merchandise is "selling incredibly well" and appealing to customers across generations, said Frank Berman, the department store's chief marketing officer. Gap has sold out of some of its popular Barbie items, including rectangular pink sunglasses.

Persons: Bloomingdale's, Barbie, Aldo, Brand, Daianara Grullon Amalfitano, Aldo's, Aldo Macy's, Frank Berman, Berman, it's, Ken, Circana, Margot Robbie's, Oliver Chen, Cowen, Chen, Susan Fournier, Barbie isn't, Fournier Organizations: Warner Bros, Mattel, Companies, NPD Group, IRI, Unit, Walmart, Target, Amazon Prime, Consumers, Adobe Analytics, Aqua Locations: Manhattan, Lexington Ave, U.S, Boston, New York City

☆ Student loan relief is gone for millions of Americans — here's what it means for retailers
▼ + stars: | 2023-06-30 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Biden's plan would have eliminated her remaining student debt balance. KeyBanc's Thomas said the student loan payment pause was yet another pandemic tail wind for retailers. Estimates vary on how much student loan borrowers will pay each month. Kantrowitz said there is little data on how Americans used the money that they did not spend on student debt. He said the student loan changes are modest compared with the pinch that people feel from inflation or the dwindling of pandemic-strengthened savings accounts.

Persons: Brent Lewis, Lenèe Gill, Pell, Gill, KeyBanc's Thomas, Mark Kantrowitz, Kantrowitz, it's, Brett House, Mario Anzuoni Organizations: Old Navy, Denver, Getty, Louisiana State University, Walmart, Nutrition, Bank of America Institute, Columbia, Maxx, TJX Cos Inc Locations: Denver , Colorado, Pasadena , California

☆ It's not just Tesla and Rivian — electric batteries are also shaking up the landscaping aisle
▼ + stars: | 2023-06-30 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

In this article LOWHD Follow your favorite stocks CREATE FREE ACCOUNTSome landscaping crews have begun to use battery-powered tools. Outdoor power equipment drives just a small fraction of the retailers' sales, said Zack Fadem, an analyst for Wells Fargo. Yet several more recent factors have increased interest in electric power for landscaping. Tractor Supply , a home improvement player that tends to be in rural areas, has been slower to add battery-powered outdoor equipment. At TPC Sawgrass in Florida, the landscaping crew has tried out an autonomous battery-powered mower and uses some electric leaf blowers.

Persons: Lowe's, Zack Fadem, Wells, Bill Boltz, Melissa Repko, Billy Bastek, John Deere, Stanley Black, Decker, Mary Winn Pilkington, it's, Jeff Plotts Organizations: Home Depot, Power Equipment Institute, CNBC, Technology, California Air Resources Board, Tractor, TPC Sawgrass Locations: California, Wells Fargo, New York City, Canada, Home, Los Angeles, Las Vegas, Toro, Ryobi, Milwaukee, Florida

☆ Student loan repayment has net negative impact on consumers, says KeyBanc's Bradley Thomas
▼ + stars: | 2023-06-29 | 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 EmailStudent loan repayment has net negative impact on consumers, says KeyBanc's Bradley ThomasBradley Thomas, managing director at KeyBanc Capital Markets, and CNBC's Melissa Repko join 'The Exchange' to discuss how student loan repayment will negatively impact consumer discretionary spending, what companies are poised to benefit from the shift in consumer spending, and how retailers are preparing for the Supreme Court ruling on student debt forgiveness.

Persons: KeyBanc's Bradley Thomas Bradley Thomas, Melissa Repko Organizations: KeyBanc

☆ Costco cracks down on membership card sharing
▼ + stars: | 2023-06-27 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

The retailer is cracking down on people sneaking into its clubs and trying to shop with other people's membership cards, it said Tuesday. Costco said it has always asked shoppers for their membership cards at the cash registers when they check out. Now, it is also requesting to see cards with a photo at self-checkout registers — and to view a photo ID if a shopper's membership card has no picture. The membership-based warehouse club said it has noticed more abuse of card sharing since it expanded self-checkout to more of its stores. Membership-based warehouse clubs have attracted more customers and won more of their wallets over the past three years.

Persons: Costco, Richard Galanti Organizations: Costco, The Dallas Morning News, Shoppers, Walmart, Sam's

☆ Target races to bring next-day delivery to customers farther from city centers
▼ + stars: | 2023-06-21 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Drivers from Target-owned delivery service Shipt pick up packages from the extension facility and deliver them to customers' doorsteps. The extension facility is part of Target's effort to offer next-day delivery to more customers. The extension facility adds to that model and expands the radius for faster deliveries. Target said the extension facility will bring next-day delivery within reach of 500,000 more customers near Atlanta. One of its rivals, Walmart , bucked the trend as online sales jumped 27% year over year in the U.S. in the fiscal first quarter.

Persons: Brian Cornell Organizations: Drivers, Target, Uber, Costco, Walmart Locations: Smyrna , Georgia, Atlanta, U.S

☆ Here's why Walmart is an outlier in a retail industry
▼ + stars: | 2023-06-02 | by ( Melissa Repko | ) 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 EmailHere's why Walmart is an outlier in a retail industryCNBC's Melissa Repko joins 'Squawk on the Street' to report on the latest from Walmart's shareholder meeting in Arkansas.

Persons: Melissa Repko Organizations: Walmart Locations: Arkansas

☆ Many Walmart shoppers will soon see new packaging as retailer tries to cut waste
▼ + stars: | 2023-06-01 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

—‎‏ Shoppers who click the "buy" button on Walmart 's website and pick up items curbside will soon spot a difference: new packaging. "It's about making sustainability the everyday choice for our customers," said Jane Ewing, Walmart's senior vice president of sustainability. Walmart wants to reduce packaging as online sales become a bigger part of its business. Other retailers are trying to cut down on packaging and cater to customers who care about sustainability, too. Amazon has also used more made-to-fit packaging after investing two years ago in CMC, a company that makes the packaging machine.

Persons: Jane Ewing, Walmart's Organizations: Walmart, U.S, Target Locations: BENTONVILLE, Ark, U.S

☆ Macy’s slashes its full-year outlook even as earnings beat
▼ + stars: | 2023-06-01 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

The Macy's company signage is seen at the Herald Square store on March 02, 2023 in New York City. Macy's shares fell on Thursday, as the retailer slashed its full-year outlook and said it saw sales significantly weaken in late March. Macy's anticipates comparable owned-plus-licensed sales will fall 6% to 7.5% during the period, worse than its previous outlook of a 2% to 4% decline. Comparable sales on an owned-plus-licensed basis dropped 7.2% for the quarter, worse than the 4.7% drop expected by analysts surveyed by Refinitiv. Gennette said Macy's sales have gotten hit as customers' budgets are squeezed.

Persons: Jeff Gennette, Macy's, Gennette, we're Organizations: Herald, CNBC, Refinitiv, Macy's, Revenue, Sales, Nike Locations: New York City, Bloomingdale's

☆ Macy’s slashes its full-year outlook after earnings beat, revenue miss
▼ + stars: | 2023-06-01 | 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 EmailMacy’s slashes its full-year outlook after earnings beat, revenue missCNBC's Melissa Repko joins 'Squawk Box' to break down the retailer's quarterly earnings results.

Persons: Melissa Repko

☆ Nordstrom tops Wall Street's first-quarter sales expectations, even as shoppers spend less
▼ + stars: | 2023-05-31 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Yet despite declining sales, Nordstrom stressed its progress with managing inventory, cutting costs and drawing shoppers, especially to the off-price brand Nordstrom Rack. Sales at Nordstrom Rack improved late in the quarter, with the strongest performance in April, the retailer said in a news release. Nordstrom 's fiscal first-quarter sales topped Wall Street's expectations on Wednesday, even as the retailer reported a spending drop and predicted slower sales in the coming months. The company's total revenue, including credit card sales, fell about 11% from $3.57 billion in the year-ago quarter, but surpassed Wall Street's expectations. Net sales at Nordstrom's namesake stores decreased 11.4% year over year, while net sales for Nordstrom Rack dropped 11.9%.

Persons: We're, Erik Nordstrom, Nordstrom, Ryan Cohen, Chewy, refreshes, Activewear, Jamie Nordstrom Organizations: Nordstrom, GameStop, CNBC Locations: Canada, U.S, Nordstrom

☆ Best Buy shares rise on earnings beat, even as CEO says shoppers are showing 'recessionary behaviors'
▼ + stars: | 2023-05-25 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Televisions are seen for sale at a Best Buy store in New York City. As people buy fewer TVs, smartphones or home theater systems, Best Buy has looked for other ways to make money. It recently relaunched its membership program, My Best Buy, which charges a subscription fee and includes features like tech support, extended returns and early access to hot products. As of the end of January, Best Buy had more than 90,000 employees in the U.S. and Canada. She added that Best Buy wants to move more employees to roles where they interact with customers.

☆ American Eagle Outfitters shares sink as retailer lowers forecast
▼ + stars: | 2023-05-24 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

Shares of American Eagle Outfitters dropped fell Thursday, after the company lowered its full-year outlook, even as it matched Wall Street's quarterly earnings expectations and beat revenue expectations. The mall retailer said Wednesday afternoon it now expects operating income to range between $250 million and $270 million, below the $270 million to $310 million range it had predicted in March. American Eagle lost those earlier gains, as it reported its own quarterly results after the bell, including falling profits. Net income fell about 42% to $18.45 million, or 9 cents per share, compared with $31.74 million, or 16 cents a share, in the year-ago period. Aerie's comparable sales increased 2%, but comparable sales for American Eagle's namesake brand declined 2% compared with the year-ago period.

☆ Kohl's shares jump as retailer reports a surprise profit
▼ + stars: | 2023-05-24 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

Kohl's shares spiked Wednesday as the struggling retailer posted a surprise profit and affirmed its full-year guidance while it chases a turnaround. Kohl's surprise quarterly profit comes after multiple quarters of disappointing sales and a sinking stock price. Since then, Kohl's has tapped its new CEO Kingsbury, former chief executive of off-price retailer Burlington Stores . That contributed to a big loss in Kohl's holiday quarter and weak outlook, which the Wisconsin-based company reiterated Wednesday. During the quarter, Kohl's had its strongest sales performance in February.

☆ Lowe's cuts full-year sales forecast, even as it tops earnings and revenue estimates
▼ + stars: | 2023-05-23 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

Net sales fell nearly 6% to $22.35 billion from $23.66 billion in the year-ago period, but exceeded Wall Street's expectations. Lowe's is the latest retailer to warn of slower sales ahead, as consumers become thriftier and reluctant to spend on discretionary items. Like Lowe's, Home Depot also chalked up lower sales to colder and wetter weather in the western U.S. and falling lumber prices. About 75% of Lowe's sales come from DIY customers, while Home Depot typically gets about half of its sales from home professionals. Sink said Lowe's expects sales from pros to outpace those from DIY shoppers for the rest of the year.

☆ Five takeaways about the consumer from Walmart, other retailers after a big week of earnings
▼ + stars: | 2023-05-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +8 min

So far, at least five retailers – Target, Walmart, Tapestry , Bath and Body Works and Foot Locker – have spoken about sales trends across the country getting worse. The retailer's comparable sales in the U.S. declined 4.6% in the quarter versus the year-ago period. Target, Home Depot and Walmart all saw a noticeable pattern: Fewer pricey and fun items in shopping carts. At Home Depot, customers bought fewer big-ticket items like appliances and grills in the fiscal first-quarter. Customers at Walmart have become more selective when shopping for electronics, TVs, home items and apparel, Rainey told CNBC.

☆ Walmart will report earnings before the bell. Here's what to watch
▼ + stars: | 2023-05-18 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

Walmart will report fiscal first-quarter earnings before the bell on Thursday, after Home Depot and Target said shoppers have pulled back on big-ticket items and discretionary purchases. Walmart has attracted higher-income grocery shoppers over the past three quarters by emphasizing value, as food remains pricey. Walmart gave a weaker-than-expected full-year outlook in February, saying it expects same-store sales for Walmart U.S. to rise between 2% and 2.5%, excluding fuel. It said adjusted earnings per share would range from $5.90 to $6.05, excluding fuel, for the fiscal year. Shares have trailed the S&P 500 's roughly 8% gain and the XRT 's nearly 2% gain during the same period.

☆ Target expects organized retail crime-fueled losses to jump by $500 million this year
▼ + stars: | 2023-05-17 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Target said Wednesday that organized retail crime will fuel $500 million more in stolen and lost merchandise this year compared with a year ago. He described retail theft as "a worsening trend that emerged last year," and said violent incidents have increased at Target's stores. "The country has a retail theft problem," Home Depot CFO Richard McPhail said on a call with CNBC on Tuesday. Yet it's hard to verify if organized retail theft has grown and if so, by how much. Target has become more vocal about organized retail theft, as it has struggled with excess inventory and its margins have disappointed.

☆ Target will report earnings before the bell. Here's what to watch
▼ + stars: | 2023-05-17 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

A customer is seen in the parking lot of the Target store at the Paxton Towne Centre near Harrisburg. Target will report fiscal first-quarter earnings before the bell as pricier groceries, rising mortgage rates and summer vacations weigh on wallets. On Tuesday, Home Depot's quarterly results sent a troubling signal as retail earnings season gained steam. The home improvement retailer, which missed on revenue and lowered its forecast, could be a warning sign about Target's quarterly results, too. Target missed earnings expectations for three consecutive quarters before eking past its own lowered forecast in the holiday quarter.

☆ Why Home Depot's weak outlook could be a warning sign for Target earnings
▼ + stars: | 2023-05-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Robyn Beck | AFP | Getty ImagesHome Depot and Target may sell very different kinds of merchandise. But the home improvement retailer's slashed forecast could be seen as a warning sign for the cheap chic retailer. On the other hand, Target, Walmart and other retailers that report in the coming weeks draw from a more representative pool of Americans. Discretionary spending fell year over year in the U.S., according to data from Circana, a market researcher formerly known as The NPD Group and IRI. Plus, Home Depot has some sector-specific advantages — even as mortgage rates rise — that could insulate it from some of the effects of lower discretionary spending.

☆ Home Depot posts worst revenue miss in about 20 years, lowers forecast as consumers delay big projects
▼ + stars: | 2023-05-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Home Depot reported its biggest revenue miss in more than 20 years and lowered its forecast for this year, as consumers delay big projects and buy fewer big-ticket items like patio sets and grills. The company said it now expects sales and comparable sales to decline between 2% and 5% for the fiscal year. Yet he said the anticipated pullback has been compounded by rising mortgage rates and a shift toward spending on services. It marked the second quarter in a row that Home Depot missed Wall Street's revenue expectations. Home Depot in the quarter sold fewer pricier discretionary items, such as new appliances, McPhail said.

☆ Target wants shoppers to think of it for groceries as retailer braces for leaner spending
▼ + stars: | 2023-05-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

The big-box retailer also hopes by drawing shoppers for essentials like gallons of milk, it can nudge purchases of discretionary items that shoppers otherwise would not have bought. A 'Tarzhay' spin on groceriesOn a recent trip to a Minneapolis area grocery store, Gomez surveyed displays of colorful fruits and vegetables. In each of the past two fiscal years, Target has had double-digit sales growth in the food and beverage category. Target's grocery sales matter more as shoppers pull back in other areas. Grocery competition gets tougherCompetition for grocery shoppers has heated up, especially as consumers stretch their budgets.

☆ As shoppers look for savings, Nordstrom hopes Rack stores can fuel its revival
▼ + stars: | 2023-05-12 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +9 min

The success or failure of the Nordstrom Rack turnaround effort could shape the company's future. Those chains such as T.J.Maxx , Ross Stores and Burlington Stores , have opened more stores and wooed new customers, driving higher foot traffic than Nordstrom Rack has seen. Nordstrom Rack stores outnumber the company's namesake stores, with 241 locations across the country, according to company filings. Nordstrom Rack stores accounted for more than 40% of new customers in 2022, CEO Erik Nordstrom said on the March earnings call. As it pins its growth hopes on the off-price locations, Nordstrom has turned Rack stores into e-commerce hubs, too.

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