Reuters | |

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.

Reuters | |

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...

Reuters | |

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.

Reuters | | 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.

Reuters | |

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.

Jeff Kagan | |

Customers have big hearts, but don’t like to be taken advantage of. COVID-19 has been very hard on the restaurant industry. I have family that works in the industry, so I know about the troubles. Too many restaurants are hurting themselves further, however, by lowering the quality of the product they sell, which damages their brand relationship with the customer.

This is hurting them in addition to coronavirus. This is destroying their brand value in the customers' minds. That is business suicide. The customer always notices everything.

Reuters | |

U.S retailer Walmart Inc sold most of its stake in Japan's Seiyu to investment firm KKR and e-commerce company Rakuten in a deal valuing the supermarket chain at 172.5 billion yen ($1.65 billion), the companies said.

Walmart first entered the Japanese market in 2002 by buying a 6% stake in Seiyu, and gradually built up its stake before a full takeover in 2008.

Like other foreign entrants lured by the high spending power of Japanese consu...

Reuters | |

(Reuters) - Simon Property Group Inc, the biggest U.S. mall operator, said it reached an agreement to cut the price of its looming takeover of rival Taubman Centers Inc to $43 a share in cash, the companies said on Sunday.

Under the original agreement announced in February, Taubman shareholders were to receive $52.50 per share in cash.

The revised agreement continues to provide that Simon will acquire an 80% ownership in The Taubman Realty Group (TRG) Ltd Partners...

Reuters | |

A U.S. judge on Monday approved a deal to rescue J.C. Penney Co Inc from bankruptcy proceedings precipitated by the coronavirus pandemic, averting a liquidation that would have put the beleaguered department store chain out of business and jeopardized tens of thousands of jobs.

The U.S. Bankruptcy Court for the Southern District of Texas approved the deal, which will enable the 118-year-old retailer to emerge from bankruptcy before the upcoming holiday season, the company said in a statement. The rescue deal is expected to save approximately 60,000 jobs.

Jeff Kagan | |

Wondering which wholesale club to pick as a customer or investor? I am a member of all three major wholesale clubs — BJ’s, Costco and Sam’s Club — and I have some definite opinions based on my own experience. Most people just invest in and join one. There are significant differences you need to be aware of among all three companies to make the right call for you.

In this column, I will share with you my opinions and some valuable insight into the best and worst of the group. Some have great customer service and customer care. Others have poor customer service and customer care. That is a big difference to keep in mind.