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Retail

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American Eagle Outfitters Inc reported an about 3% fall in third-quarter revenue on Tuesday, as store traffic slumped due to the COVID-19 pandemic.

The teen apparel retailer has been struggling with weak demand for its denim apparel from customers staying at home due to the health crisis and a back-to-school season hampered by students turning to online classes.

Revenue at the American Eagle label fell 11% during the quarter ended Oct. 31, while the Ae...


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Gap Inc reported a 32% slump in quarterly profit on Tuesday, hurt by higher marketing expenses, sending the apparel retailer’s shares down about 7% in extended trading.

The retailer reported a surprise rise in third-quarter quarter comparable sales, powered by online demand for its Athleta athleisure wear and Old Navy apparel from stuck-at-home customers.


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Dollar Tree Inc reported better-than-expected quarterly results on Tuesday, as the discount store operator benefited from robust demand for cheaper home decor, kitchenware and clothing during a coronavirus-induced economic downturn.

The company also said it had made a good start to its holiday quarter, with same-store sales at both its labels tracking above their third-quarter levels, sending its shares 12% higher.


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Best Buy Co Inc held back from issuing a holiday-quarter forecast on Tuesday, saying it was unsure if a sales boom fueled by demand for remote-work computer equipment was sustainable as the COVID-19 pandemic rages on in the United States.

Shares of the consumer electronic retailer, which has been one of the few retail winners in the health crisis, fell 2.6% before the bell, even as it beat third-quarter sales and profit estimates.

“It is very difficult for us to predict how sustainable these trends will be due to the significant uncertainty related to the various impacts of the pandemic,” Chief Financial Officer Matt Bilunas said.


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Guitar Center Inc, the largest U.S. retailer of music instruments and equipment, filed for Chapter 11 bankruptcy on Saturday, as music lovers moved their shopping online during the coronavirus pandemic.

The retailer has negotiated to have a total of $375 million in debtor-in-possession financing from its existing lenders and intends to raise $335 million in new senior secured notes, the company said in a statement.

Earlier this month the company reache...


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Nike Inc said on Friday it would raise its quarterly dividend by 12%, or 3 cents per share, underscoring the financial strength of the world's largest sportswear maker in the midst of the COVID-19 pandemic.

Nike in September said it expects sales in the second half of its fiscal year ending May 2021 to be “up significantly”, as it bounces back from a slump earlier this year when retailers canceled orders and lockdowns kept people away from stores in key markets.

The company’s share price, up about 30% this year, has more than doubled since its March low as it slashed costs by cutting corporate jobs and targeted online investments.


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Macy's Inc reported a more than 20% drop in quarterly comparable sales on Thursday and said it expects that loss to continue into the fall, signaling a tough holiday season for the coronavirus-battered department store chain.

The retailer’s shares were down nearly 5% in premarket trading but have recovered some of those losses in regular morning hours. Its stock has lost nearly half its value in a tumultuous year in which it has had to lay off thousa...


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Target Corp blew past analyst expectations for quarterly profit and sales on Wednesday as more Americans used the retailer’s quick-delivery services to buy everything from electronics to home goods during the COVID-19 pandemic.

Shares were up nearly 2.3% at $166.75 at 10am ET.

Comparable digital sales rose 155% in the third quarter, the company said, driven largely by same-day services like Drive up, Shipt or straight in-store pick ups, with more than 95% of sales being fulfilled through stores.

Target, which operates nearly 1,900 stores, has emerged as one of the big winners from the disruption caused by the coronavirus health crisis as investments in its private label and online business, including faster shipments, have paid off.


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Amazon.com Inc on Tuesday launched an online pharmacy for delivering prescription medications in the United States, increasing competition with drug retailers such as Walgreens, CVS Health and Walmart.

Called Amazon Pharmacy, the new store lets customers price-compare as they buy drugs on the company’s website or app. Shoppers can toggle at checkout between their co-pay and a non-insurance option, heavily discounted for members of its loyalty club Prime.

The move builds on the web retailer’s 2018 acquisition of PillPack, which Amazon said will remain separate for customers needing pre-sorted doses of multiple drugs.


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Walmart Inc posted a bigger-than-expected increase in quarterly same-store sales and beat expectations for profit on Tuesday amid a surge in its online business with higher spending on electronics, sporting goods and groceries.

Sales at U.S. stores open at least a year rose 6.4%, excluding fuel, in the third quarter ended Oct. 31. Analysts had estimated an increase of 4.16%, according to IBES data from Refinitiv.

Walmart U.S. eCommerce sales grew 79% with strong results across all channels and helped boost same-store sales and profit margins.