News

Retail

Kimberly Redmond | Equities.com |

Dollar General Corporation (NYSE: DG) posted earnings on Thursday for the fourth quarter of 2020 that fell short of expectations and issued a downbeat forecast for 2021.

For the quarter, the Tennessee-based discount retailer reported a 24.8% increase in earnings per share of $2.62, compared to a diluted EPS of $2.10 in the fourth quarter of 2019 and missed analyst forecasts of $2.72.


Kimberly Redmond | Equities.com |

The Toys"R"Us and Babies"R"Us brands are changing hands again, less than two years after Tru Kids Inc bought them in a liquidation sale.

On Monday, WHP Global, a New York-based brand acquisition and management firm, announced it had taken a controlling stake in Tru Kids and will now manage its business and growth. Financial terms of the deal were not disclosed.


Reuters | Equities.com |

SoftBank Group Corp-backed Coupang was valued at around $109 billion in its market debut on Thursday after South Korea’s largest e-commerce company raised around $4.6 billion in the biggest U.S. initial public offering this year.

Coupang’s stock soared 81% to open at $63.50. The company had priced 130 million shares sold in the IPO at $35 per share, higher than the marketing range $32-$34 per share, giving the Seoul-headquartered e-commerce giant a market value of $60 billion.


Reuters | Equities.com |

German sportswear company Adidas aims to double its e-commerce sales by 2025 and make its products more sustainable as part of a five-year plan to lift profitability closer to that of rival Nike.

Adidas is targeting online sales of up to 9 billion euros ($10.7 billion) a year by 2025 with an operating profit margin of 12-14%, up from the 11.3% achieved in 2019 before the coronavirus crisis knocked sales and profitability.


Reuters | Equities.com |

A group of U.S. lawmakers will visit an Amazon.com Inc facility in Alabama on Friday, lending their support to a growing push to unionize workers at the e-commerce firm.

The Congressional delegation includes U.S. Representatives Andy Levin (D-MI), Jamaal Bowman (D-NY), Cori Bush (D-MO), Terri Sewell (D-AL), and Nikema Williams (D-AL). Workers at the Amazon fulfillment center in Bessemer, Alabama, are voting on whether to become the first Amazon employees to join a union.


Kimberly Redmond | Equities.com |

Arts and crafts retailer The Michaels Companies (Nasdaq: MIK) announced Wednesday it reached an agreement with Apollo Global Management to take the company private.

Apollo will acquire all outstanding shares of Michaels common stock for $22 per share — a 47% premium to the closing stock price on Feb. 26, a day before media reports speculated a deal was in the works — for an equity transaction value of $3.3 billion. The deal is valued at $5 billion including debt.


Kimberly Redmond | Equities.com |

As part of a plan to focus on its e-commerce business, The Walt Disney Co (NYSE: DIS) announced Wednesday it will significantly reduce its brick-and-mortar footprint, starting with the closure of at least 60 Disney Store locations in North America, about 20% of its worldwide total, before the end of 2021.

In a press release, Stephanie Young, president of consumer products games and publishing, said, “While consumer behavior has shifted toward online shopping, the global pandemic has changed what consumers expect from a retailer.”


Kimberly Redmond | Equities.com |

Walmart announced Monday it will be removing the $35 minimum order requirement to qualify for its two-hour Express delivery service.

The retail giant said the change is effective immediately, but customers will still have to pay a $10 fee on top of the existing delivery charge in order to receive orders within a two-hour window.


Reuters | Equities.com |

Nordstrom Inc on Tuesday reported better-than-expected revenue for the holiday quarter, aided by a rise in e-commerce sales and growth in its off-price business, Rack.

Pandemic-induced declines in household income and high unemployment rates have led to a spike in demand for affordable clothing. This boosted the off-price business of Nordstrom, which also benefited from a greater shift to online shopping.

Sales at Nordstrom Rack decreased 23% from a ye...


Reuters | Equities.com |

Kohl’s Corp posted holiday-quarter profit and sales beyond market expectations on Tuesday, as it reined in costs and Americans loaded their online shopping carts with not just essentials but also leisure goods.

As consumers bought everything from leggings and sweatshirts to kitchen electrics, the company’s digital sales surged to account for 42% of net sales in the fourth quarter.

The COVID-19 pandemic ha...