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Best Buy on Thursday reported holiday-quarter earnings and revenue that topped Wall Street's expectations, as waning demand for consumer electronics proved better than feared. "We are preparing for another down year for the [consumer electronics] industry," said CEO Corie Barry on a call with analysts. Its pandemic-era momentum has teed up challenging comparisons for the consumer electronics retailer, particularly as shoppers feel strained by bigger grocery bills and other higher expenses fueled by inflation. The key metric, also called comparable sales, tracks sales online and at stores open at least 14 months. Best Buy had joined other retailers in cutting its outlook this summer.

☆ Nordstrom earnings top expectations, retailer says it's winding down Canada operations
▼ + stars: | 2023-03-02 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Nordstrom on Thursday reported lower sales and profits for the holiday quarter, although earnings topped Wall Street's expectations. For the new fiscal year, Nordstrom expects revenue to fall 4% to 6%, including a negative impact from Canadian store closures and a positive impact from a 53rd week. As of Jan. 28, the company said it had six Nordstrom stores and seven Nordstrom Rack stores in Canada. It expects to finish Canadian store closures in Canada by late June. Even before Nordstrom reported earnings, it cut its forecast and told investors that it had a rough holiday.

☆ Macy's shares surge after holiday-quarter profit tops expectations
▼ + stars: | 2023-03-02 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Macy's shares surged Thursday, as the company said it drew holiday shoppers looking for gifts and held the line on promotions. Excluding a tax benefit in the quarter, adjusted earnings per share come out to $1.71. Excluding a tax benefit, it delivered adjusted earnings per share of $1.71, higher than the $1.57 that analysts expected, according to Refinitiv. As of Wednesday's close, Macy's shares are down about 1% so far this year. Read the full Macy's earnings release.

☆ These dependable dividend increasers are beating the market
▼ + stars: | 2023-03-02 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

While recent dividend cuts may make investors concerned about what's to come next, there are still many stocks that have dependable dividend increases. Last week, Intel slashed its dividend by more than 65% , following VF Corp.'s dividend cut and Hanesbrands elimination of its dividend last month. The exchange operator has increased its payout four of the last five years and has a one-year dividend-per-share growth of 24.1%. United Parcel Service has the highest one-year dividend-per-share growth at 49% on our list. Finally, Target has a 2.7% dividend yield and has a one-year dividend-per-share growth of 22.5%.

☆ There is going to be a tightening on consumer spending, says Kantar Retail's David Marcotte
▼ + stars: | 2023-03-02 | 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 EmailThere is going to be a tightening on consumer spending, says Kantar Retail's David MarcotteDavid Marcotte of Kantar Retail and CNBC's Melissa Repko join 'Power Lunch' to discuss retail earnings and whether investors should be concerned that the worst is yet to come.

☆ Kohl's shares sink after big holiday-quarter losses
▼ + stars: | 2023-03-01 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Kohl's shares sunk on Wednesday after the retailer posted a big loss and a sales decline of about 7% in the holiday quarter. Kohl's is not the only retailer that has felt a pullback as consumers spend more on food, housing and other necessities. During that same three-year period, spending at Kohl's fell by 15.4% and profit at the company plummeted by 203%. Kohl's inventory remains elevated, up 4% year over year as of the end of the fourth quarter, the company said. As of Tuesday's close, Kohl's stock is up about 11% this year, outperforming the approximately 3% gain of the S&P 500.

☆ Target leans into 'affordable joy' and its cheap chic reputation as sales slow
▼ + stars: | 2023-02-28 | by ( Melissa Repko | ) www.cnbc.com time to read: +2 min

An increased number of mannequins feature clothing and shoes throughout the remodeled Target store in Orange, California. It also intends to expand a network of hubs to make it cheaper and faster to get online orders to customers. Target plans to offer more items at lower price points, such as $3, $5, $10 and $15. "Given value is absolutely top of mind right now, being able to deliver affordable joy differentiates us in the marketplace," CEO Brian Cornell said. "And that's a clear advantage in the near term and remains our focus over the long term."

☆ Target will report earnings before the bell — Here's what to expect
▼ + stars: | 2023-02-28 | by ( Melissa Repko | ) www.cnbc.com time to read: +2 min

Target on Tuesday will report holiday-quarter results, as retailers brace for a year that appears poised to bring slower sales and more price-conscious customers. Yet over the past year, Target has faced a shift in both sales trends and market sentiment. The company has missed Wall Street's earnings expectations for three consecutive quarters and warned investors to expect soft holiday sales. Alongside its fiscal fourth-quarter results, Target is expected to share full-year guidance at an investor day in New York City. Groceries account for just 20% of Target's sales, while Walmart gets more than half of its sales from the frequency-driving category.

☆ Why the stakes are so high for Target and other retail chains this earnings season
▼ + stars: | 2023-02-27 | 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 EmailWhy the stakes are so high for Target and other retail chains this earnings seasonCNBC.com retail and consumer reporter Melissa Repko details what investors should be on the lookout for from the big earnings this week: Target, Lowe's, Kohl's and Macy's.

☆ Target bets on e-commerce by investing $100 million in hubs to speed up delivery
▼ + stars: | 2023-02-22 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Target said Wednesday it will spend $100 million to build a larger network of supply chain hubs to speed up and lower the cost of delivering online orders. The retailer plans to have at least 15 of the facilities, dubbed sortation centers, by the end of January 2026. But, she added, the delivery hubs will help Target better meet customers' needs, whether they're shopping online, in stores or using curbside pickup. It has opened sortation centers across major markets in Minnesota, Texas, Colorado, Illinois, Georgia and Pennsylvania. In the coming year, she said Target expects to deliver 50 million packages through the sortation centers — up from 26 million packages in 2022.

☆ Walmart and Home Depot are getting ready for a consumer slowdown
▼ + stars: | 2023-02-21 | by ( Melissa Repko | ) www.cnbc.com time to read: +1 min

If you want to know how this year may be for the retail industry, look no further than Walmart 's cautious outlook. At Walmart, that means shoppers are buying more necessities like groceries and lightbulbs rather than big-ticket items or discretionary items like electronics and home decor. At Home Depot, it could mean customers may delay a home project or opt for cheaper floor tiles or kitchen appliances. Home Depot Chief Financial Officer Richard McPhail said the higher prices of groceries and more are influencing customers' decisions. "We've seen an increasing degree of price sensitivity as the year's gone on, which is actually sort of what we predicted in the face of persistent inflation," McPhail told CNBC.

☆ Home Depot says it will spend $1 billion to give hourly workers a raise
▼ + stars: | 2023-02-21 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Home Depot on Tuesday said it will spend an additional $1 billion to give its hourly employees a raise, as retailers and restaurants compete for workers. Hourly workers will see the increase, which went into effect on Feb. 6, this month in their paychecks. The increase will boost pay for all hourly workers in the U.S. and Canada. With the move, Home Depot becomes the latest major retailer to signal that the labor market is still tight — especially when it comes to lower-wage hourly workers. The vast majority of its employees are hourly workers at its approximately 2,300 stores in the U.S., Canada and Mexico.

☆ Walmart will report holiday-quarter earnings before the bell — here's what to expect
▼ + stars: | 2023-02-21 | by ( Melissa Repko | ) www.cnbc.com time to read: +1 min

Customers exit a Walmart store on January 24, 2023 in Miami, Florida. Walmart announced that it is raising its minimum wage for store employees in early March, store employees will make between $14 and $19 an hour. Walmart will report its holiday-quarter earnings on Tuesday morning, as investors and economists try to gauge the health of the American consumer. Here's what analysts expect Walmart to report for the fiscal fourth quarter, according to Refinitiv consensus estimates:Earnings per share: $1.51 expectedRevenue: $159.72 billion expectedWalmart is expected to share its outlook for the year, too. Over the past two quarters, the company said about 75% of its market share gains in food came from households that make more than $100,000 a year.

☆ Retailers could face cost cuts and slower sales this year
▼ + stars: | 2023-02-19 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Other big-name retailers will follow, including big-box players like Target and Best Buy , and mall staples like Macy's and Gap . Yet healthier profit margins could be a silver lining, as freight costs fall and retailers have less excess merchandise to mark down. That could boost profit margins, even if consumers don't spend as freely. That hurt companies' margins, as unsold merchandise wound up on the clearance rack and costs crept up, along with sales. Lululemon said its profit margins would be lower than anticipated, as the athletic apparel retailer juggles excess inventory.

☆ Shop or Drop? WMT, HD, LOW & TGT
▼ + stars: | 2023-02-17 | 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 EmailShop or Drop? WMT, HD, LOW & TGTSimeon Gutman, Morgan Stanley and CNBC's Melissa Repko join 'The Exchange' to discuss retail stocks ahead of earnings, including Walmart, Home Depot, Lowe's and Target.

☆ 5 things to know before the stock market opens Monday, January 30
▼ + stars: | 2023-01-30 | by ( Mike Calia | ) www.cnbc.com time to read: +4 min

This week it will run into some big tests, given the earnings schedule dominated by big tech names (more on that below) and the Federal Reserve's next moves. Here's a look at the earnings week ahead: Tuesday: General Motors McDonald's UPS Pfizer Spotify Snap AMDWednesday: Peloton MetaThursday: Apple Alphabet Amazon Ford Starbucks Qualcomm3. Renault aims to cut Nissan stakeRenault and Nissan automobile logos are pictured during the Brussels Motor Show on January 9, 2020 in Brussels. France's Renault and Japan's Nissan have agreed to restructure their agreement, which they struck in 1999. The overall health and size of its business allows it to mix things up and try new things.

☆ Bright lights and snazzy mannequins: Walmart rolls out sleek new store designs
▼ + stars: | 2023-01-28 | by ( Melissa Repko | ) www.cnbc.com time to read: +7 min

In company surveys, he said nearly every shopper said the store's displays and mannequins encouraged them to browse longer. Walmart's new store design includes displays that show off how a customer could decorate a nursery or kitchen. Melissa Repko | CNBCWashington declined to share data about Walmart's store traffic and sales at its Springdale store and other flagships that have opened in recent months. Visits to its Walmart store in Springdale, Ark. Victor Millan, of Ridgefield Park, New Jersey, makes weekly shopping trips to the Walmart in Teterboro for groceries and other items.

☆ Walmart-owned Sam's Club plans to open about 30 new stores over next five years
▼ + stars: | 2023-01-26 | by ( Melissa Repko | ) www.cnbc.com time to read: +2 min

Walmart -owned Sam's Club on Thursday said it will open more than 30 new stores in the U.S., marking its most aggressive expansion in years. Sam's Club also plans to open five fulfillment and distribution centers this year, with the first of those opening in Georgia. "During times like inflation, times when people have pressure on their household budget, it's a time when Sam's Club can really show up," she said in a CNBC interview. Its most recent new club opened in 2017 in Hanover, Pa.McLay said the new stores will open in high-growth suburban areas where Sam's Club has few stores or no stores, but declined to specify the locations, citing competitive reasons. Sam's Club's new stores will be about 160,000 square feet — larger than Sam's Club's typical footprint of about 140,000.

That surge in demand and limited supply contributed to higher prices. But diners will likely still pay higher menu prices than they were last year. Dutch Bros. Coffee CEO Joth Ricci told CNBC that most coffee businesses hedge their prices six to 12 months in advance. However, Zandi said, if the job market remains strong, inflation eases and wages grow, Americans can better manage higher prices for airfare and other items. Several hot pandemic items, including TVs, computers, sporting goods and major appliances have dropped in price, according to Labor Department data from December.

☆ Inflation is slowing but high prices of consumer goods remain sticky
▼ + stars: | 2023-01-25 | 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 EmailInflation is slowing but high prices of consumer goods remain stickyCNBC's Melissa Repko and Steve Liesman join 'Power Lunch' to discuss about sticky inflation in consumer goods, private label as an alternative to high prices from vendors, and hotspots for ongoing service inflation.

☆ Walmart raises minimum wage as retail labor market remains tight
▼ + stars: | 2023-01-24 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Walmart said Tuesday it is raising its minimum wage for store employees to $14 an hour, representing a roughly 17% jump for the workers who stock shelves and cater to customers. Starting in early March, store employees will make between $14 and $19 an hour. About 340,000 store employees will get a raise because of the move, Hatfield said. Some of those pay increases will also go toward store employees who work in parts of the country where the labor market is more competitive, the company said. Target , for instance, announced in 2017 it would gradually raise its minimum wage and reached $15 an hour in July 2020.

☆ Nordstrom shares sink after retailer posts weak holiday sales and slashes guidance
▼ + stars: | 2023-01-19 | by ( Melissa Repko | ) www.cnbc.com time to read: +2 min

Shoppers exit Nordstrom at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania. Shares of Nordstrom fell Thursday, after the department store chain said it was hurt by weak sales and a lot of markdowns during the holiday season. The retailer said net sales dropped 3.5% for the nine-week holiday period that ended Dec. 31 compared with the year-ago period. With the slashed guidance, Nordstrom becomes the latest retailer to flash warning signs about the consumer and preview a tougher year ahead. Plus, the company said, shoppers did not spend as freely as in previous holiday seasons.

A shopper exits a Party City Holdco Inc. store in New York, U.S., on Wednesday, Nov. 7, 2018. Party City Holdco released earnings figures on November 8. To manage through the tougher period, Weston told investors in November that Party City would work to cut costs by $30 million. Party City tapped retail consultants AlixPartners in November as its financial advisor. Shares of Party City were up 10% and halted in premarket trading on Wednesday.

☆ Holiday sales fall short of expectations, set stage for tougher 2023 for retailers
▼ + stars: | 2023-01-18 | by ( Melissa Repko | ) www.cnbc.com time to read: +3 min

Holiday sales fell short of industry expectations, as shoppers felt pinched by inflation and rising interest rates, according to data from the National Retail Federation. The retail sales number excludes spending at automobile dealers, gasoline stations and restaurants and is based on data from the U.S. Census Bureau. The holiday sales gains include the impact of inflation, which drives up total sales. That translated to sharp year-over-year jumps in retail sales in the past two holiday seasons — a 14.1% gain in 2021 and 8.3% gain in 2020. Online and non-store sales saw the biggest year-over-year gains, with sales jumping 9.5% during the holiday season.

Bed Bath & Beyond has been in discussions with prospective buyers and lenders as it works to keep its business afloat during a likely bankruptcy filing, according to people familiar with the matter. Comparable sales declined 32% year over year in the most recent fiscal quarter, ended Nov. 26. Last week, CNBC reported Bed Bath had begun another round of layoffs in an attempt to further cut costs. One possible buyer circling Bed Bath is private equity firm Sycamore Partners, according to the people familiar with the discussions. Bed Bath has also drawn interest from companies that acquire the intellectual property, or brands, of companies, particularly those under distress, the people said.

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