Tag: Retail – Consumer Staples

Shares fell 4.8% in morning trade to 274.20 pence a share. Year-to-date the shares are down 9.4%.

Costco Wholesale ’s September sales show that the retailer is still firing on all cylinders, and that a bit of concern among consumers can help.

Canada’s Alimentation Couche-Tard (ACT)  has made a revised bid for Seven & i Holdings, the Japanese company said on Wednesday, which two people familiar with the matter said hiked the offer by 22% to about $47 billion.

CVS Health’s board has engaged advisors to conduct a strategic review of its business, according to people familiar with the matter, as the company contends with potential activist pressure and a severely depressed stock price.

Glenview Capital, a major CVS Health shareholder, is expected to meet with company leadership on Monday to lay out proposed fixes for the struggling business, according to people familiar with the matter, a potential precursor to an activist push.

Revenue of $79.7 billion was a hair shy of consensus calls for $79.9 billion. Same-store sales, a metric measuring sales growth at stores open more than a year, increased 5.4% from a year ago, falling short of estimates calling for a 5.7% increase.

Kroger Co.’s stock rose 1% premarket Thursday, after the grocery chain beat profit estimates for the second quarter to offset sales that fell slightly short.

Shares of Seven & i Holdings fell on Wednesday following a report that the U.S. Federal Trade Commission has informed the Japanese retail giant about a potential investigation into a possible deal with Canada’s Alimentation Couche-Tard.

The wholesale club’s net sales at rose by 7.1% year over year to $19.8 billion in August, dovetailing a 7.1% increase in July.

 Japanese retail giant Seven & i Holdings said on Friday it had turned down Canada’s Alimentation Couche-Tard’s $38.5 billion cash bid, rejecting an offer that would be the largest-ever foreign buyout of a Japanese company.

Dollar General shares tumbled on Thursday after the discount retailer slashed its sales and profit guidance for the full year, suggesting its lower-income customers are struggling in this economy.

Internal talks on blocking takeover attempt by Canada’s Couche-Tard comes despite official moves to look at best value for investors

Target raised its full-year profit forecast on Wednesday and reported its first increase in quarterly comparable sales in over a year, driven by price cuts that attracted more shoppers to its stores.

Walmart Inc. raised about $3.6 billion by selling its stake in Chinese e-commerce firm JD.com Inc., winding down an eight-year partnership that appears to be paying diminishing returns amid a challenging landscape for Chinese tech giants.

Shares in Japan’s Seven & i , the owner of 7-Eleven, closed nearly 11% lower on Tuesday as investors weighed up regulatory hurdles to a takeover bid from Canada’s Alimentation Couche-Tard to create a convenience store giant with almost a fifth of the U.S. market.

Walmart raised its forecast for the year on Thursday, as quarterly revenue grew nearly 5%, the company’s stores and website drew more visits and sales outside the grocery department improved. 

Shares of German meal kit firm HelloFresh jumped on Tuesday after the company reported a better-than-expected profit in the second quarter and said its ready-to-eat meals segment saw rapid growth.

CVS Health on Wednesday reported second-quarter earnings that topped expectations, but slashed its full-year profit outlook, citing higher medical costs that have been squeezing the U.S. insurance industry

Walmart has plans to potentially spend $200 million on self-driving forklifts as part of broader efforts to automate more warehouse operations, according to three people familiar with the matter.

U.S. grains merchant Bunge and Glencore-backed Viterra have offered concessions aimed at winning EU antitrust approval for their $34 billion merger, the European Commission website showed on Friday.