Tag: Retail – Consumer Staples

A federal district court judge in Oregon has issued a preliminary injunction blocking Kroger’s planned acquisition of Alberstons, in a deal valued at more than $24 billion. The suit was brought by the Federal Trade Commission, eight states, and the District of Columbia.

Costco Wholesale saw revenue growth slow again in November. This time, the company said it was because Thanksgiving and Black Friday fell later in the month than in past years.

Major American retailers Walmart and Lowe’s raised concerns that President-elect Donald Trump’s proposed tariffs would make their products more expensive, just as consumers are beginning to recover from the impacts of inflation.

Target shares plunged on Wednesday after one of America’s biggest retailers forecast disappointing sales for the key holiday season.

Lowe’s beat Wall Street’s quarterly earnings expectations on Tuesday, as outdoor do-it-yourself projects, the home professional business and stronger online shopping fueled sales.

Walmart on Tuesday raised its annual sales and profit forecast for the third consecutive time, with people buying more groceries and merchandise online and at its stores, a sign that it may be gaining market share ahead of the holiday season.

A son of the founder of the Japanese retail giant that owns the 7-Eleven convenience-store chain has proposed a buyout of the holding company, the latest twist in a global standoff between the Japanese company and the Canadian owner of Circle K, which has proposed its own takeover deal.

Santa Claus is not delivering as many Christmas trees, toys and decorations to the United States this year as in recent years, import data shows, with retailers including Walmart bringing in less holiday product ahead of what is expected to be a so-so holiday season.

Peloton’s stationary bikes will soon sell at Costco’s stores and on its website as the beleaguered fitness company looks for new ways to reach younger and affluent customers, Peloton is set to announce Tuesday.

Walmart Inc. will start delivering prescriptions to US homes in as little as 30 minutes, a move that’s intended to grab a bigger slice of online spending and compete against Amazon.com Inc.

CVS Health Corp.’s stock tumbled 10.5% early Friday, after the healthcare company announced leadership changes and lowered guidance for the fourth time this year, weighed down by challenges in its health-benefits business.

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.