|Bid||1,734.23 x 1100|
|Ask||1,734.72 x 900|
|Day's Range||1,730.46 - 1,746.80|
|52 Week Range||1,307.00 - 2,035.80|
|Beta (3Y Monthly)||1.57|
|PE Ratio (TTM)||76.78|
|Earnings Date||Jan 29, 2020 - Feb 3, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2,183.86|
Analysts say the issues at the one-time retail mecca run deep.
Top news and what to watch in the markets on Thursday, November 21, 2019.
Netflix, once the disruptor on the streaming scene, has become the ultimate incumbent. Now competitors like Apple and Disney are challenging its binge-watching model.
Applied Materials, Warrior Met Coal, Alibaba and Amazon highlighted as Zacks Bull and Bear of the Day
(Bloomberg Opinion) -- It is hard to think of a retailer that is doing so much to save itself, and has so little to show for it, as Macy’s Inc.The department store giant reported Thursday that comparable sales sank 3.9% from a year earlier in the quarter, or 3.5% including licensed departments, a sharp retreat from meager gains it had recorded on this measure in the first half of the year. It was such a weak showing that the company cut its profit forecast and now expects declining comparable sales for the full year.Of course, department stores have been challenged for years because they rely on an older customer and are often tethered to the types of malls that are withering in the e-commerce era. These latest results from Macy’s, though, coupled with a disappointing earnings report from Kohl’s Corp. earlier this week, increase skepticism that the giants of the category can find a formula for success before it’s too late.Macy’s has tried plenty of tactics to boost sales. It has an off-price segment. It is renovating its top-performing stores. It has dramatically expanded its selection online. But the steep decline in sales is a signal that it has not been enough.The company’s press release points to several reasons for the dismal results, including the weather (a go-to excuse for apparel retailers when things go off track) and soft international tourism (which affects sales at its big-city flagships). It also called out “weaker than anticipated performance in lower tier malls.”That third factor is noteworthy because it highlights the trouble with a major component of Macy’s turnaround strategy: The company is currently working to revamp about 150 stores while transforming its weaker locations into so-called “neighborhood stores” that are smaller in size and have fewer employees.The results raise the question of why Macy’s is clinging to these stores in dumpy malls. Macy’s needs to give more serious consideration to closing some of these locations.In other words: Macy’s may be doing a lot of things to salvage its business, but that doesn’t mean they’re the right things.The company said Thursday it will hold an investor day in February to discuss its three-year growth strategy. Any presentation that does not include a roadmap for additional store closures — and a clear plan for improving its actual merchandise — should be dismissed as unlikely to restore Macy’s to health.Kohl’s, a rival, is in a slightly better position than Macy’s, since its stores are typically not located in malls. But its third-quarter results also raised fresh doubts that it has carved a path to long-term relevance.Its new partnership with Amazon appears to be going largely as planned, with executives saying on an analyst conference call that it was “meeting expectations” and that conversion rates were on par with what it saw in pilot markets.But the Amazon arrangement is a creative move that should be providing new, young customers to Kohl’s. If all the retailer can deliver under those circumstances is a 0.4% increase in comparable sales, should that really excite investors about the program’s potential?It’s also discouraging that Kohl’s women’s business is adrift, recording declining sales in the quarter that offset more upbeat sales in departments such as men’s and footwear.Macy’s and Kohl’s shouldn’t delude themselves into thinking their would-be customers are simply sitting on the sidelines. TJX Cos., the corporate parent of Marshalls and TJ Maxx, recorded healthy comparable sales in the quarter. Target Corp. reported Wednesday that its apparel and accessories department saw a “double-digit” increase in sales in the period. It’s clear those better-run retailers are benefiting from Macy’s and Kohl’s stumbles.Building a vibrant 21st-century department store was always going to be a tall order. But Macy’s and Kohl’s latest reports raise the question of whether, for them, that goal is now out of reach.To contact the author of this story: Sarah Halzack at firstname.lastname@example.orgTo contact the editor responsible for this story: Michael Newman at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Retailers are angling to become this holiday season’s top toy destination by expanding their exclusive toy selections and focusing on prices and consumer experience. After Toys "R" Us filed for bankruptcy in 2017 and closed all stores in 2018, last holiday season presented opportunity for other retailers, who scrambled to capture consumers’ toy dollars. Target, Walmart, Amazon, Kohl’s, Michaels, Party City, Barnes & Noble are among those that grew their toy selections.
VMware's (VMW) third-quarter fiscal 2020 results are expected to reflect continued enterprise deal wins, portfolio strength and partnerships with the likes of AWS and IBM.
(AMZN) — Amazon Music today announced critically acclaimed, multi-platinum singer-songwriter and EGOT winner, John Legend, has released a beautiful version of “Happy Christmas (War Is Over),” a Christmas song originally released in 1971 as a single by John & Yoko/Plastic Ono Band with the Harlem Community Choir, as an Amazon Original for the holidays. Produced by Raphael Saadiq, with additional vocals by Chrissy Teigen and daughter Luna, “Happy Christmas (War Is Over) (Amazon Original)” is out today, available to stream and purchase exclusively on Amazon Music.
Retail has proved a volatile industry as tastes and trends change -- and now there are some signs that Amazon shares could be turning vulnerable, too.
While Amazon.com Inc. races to get purchases delivered to customers in a day, Target Corp. is getting people to come to them, driving digital sales even as they get customers to go to stores. Target (TGT) says comparable digital sales were up 31% in the third quarter, with 80% of the retailer’s digital growth attributed to customers’ use of same-day services, like Drive Up, which brings packages to shoppers’ cars. As a result, Target has managed to drive online sales without hurting profit.
(Bloomberg Opinion) -- The latest buzz in Hollywood is that the U.S. Justice Department wants to abolish an outdated rule known as the Paramount consent decree, which would allow studio giants to own movie theaters — something that hasn’t been permitted since the 1940s. My first thought was that it's a bit of a nothingburger. Studios like Warner Bros. and Universal probably aren’t eager to scoop up debt-laden cinema operators when their top priority is investing in streaming-TV content and services. And while mom-and-pop theaters may fear the change will breed anti-competitive behavior, that’s not as big of a concern for the big multiplex chains, nor does it signal an end to antitrust oversight. But that doesn’t mean everything is hunky-dory in the industry.Take a look at the U.S. box office this year. The content uniformity aside — four of the top seven movies descended from comic books, and the other three from cartoon franchises — most of the year’s leading films are Walt Disney Co. productions. There are more to come, with “Frozen 2” set to hits theaters on Friday, followed by the December release of “Star Wars: The Rise of Skywalker.” It has me wondering, is this healthy? Disney films account for nearly a third of the $9.5 billion of cinema tickets sold so far in 2019. Warner Bros., owned by AT&T Inc., lags far behind with a 16% share, trailed by Comcast Corp.’s Universal and Sony Corp.’s namesake distribution business; 20th Century Fox would normally be high in the ranking, too, but Disney acquired it earlier this year as part of an $85 billion deal with Rupert Murdoch.Look, I get it. Lots of people love Disney’s Marvel and animated features, and the box office is simply reflecting that. The situation is more complicated than just looking at the data and determining that the company has too much power; there’s nothing about the industry structurally that would give it an unfair advantage. Disney has just done a really good job of consistently giving fans what they want, and CEO Bob Iger made a series of smart acquisitions that continue to pay off: Pixar in 2006; Marvel in 2009; and Lucasfilm (home of “Star Wars”) in 2012. They’ve all absolutely flourished within Disney, with each bringing with it beloved franchises and story lines just waiting to be further developed and amplified for the big screen.It’s not like Warner Bros., Universal and Sony haven’t had the same opportunities. Warner Bros. has DC Comics, “Harry Potter” and “Lord of the Rings,” and the studio shares a home with HBO and “Game of Thrones.” Sony owns the rights to Spider-Man; it even had the chance to buy the entire Marvel roster in the late 1990s (for pennies compared to what Disney paid). It's hard, though, to imagine Marvel would have become what it is today had it landed at Sony instead of Disney. And that’s kind of my point.Matthew Ball, the former Amazon Studios executive, made a similar argument recently: “Disney isn’t a monopoly,” he tweeted Nov. 5. “Its competitors just need to do better. ... You make success. No one believed in comics being huge 20 years ago.”It's conceivable that Disney may end up atop the streaming world, too. Apple TV+ hasn't lived up to the hype, while AT&T’s HBO Max may suffer for its delayed arrival to the market (in May 2020). In very Comcast fashion, the cable giant isn’t so much plunging into streaming as it is dipping a toe into the waters with its Peacock app next year. And Sony’s PlayStation Vue service has already thrown in the towel. Meanwhile, Disney+ had a wildly successful launch on Nov. 12, signing up 10 million subscribers on the first day, despite widespread technological glitches and shortcomings in app functionality. Disney is also the first to experiment with bundles, a relic of the cable-TV market that I’ve argued will help ease one of the worst consumer pain points of streaming: the inability to access all your favorite content through a single subscription.But when people are rooting for Disney to be the “Netflix killer,” they’re rooting against themselves. Netflix Inc.’s innovation brought us affordable TV entertainment that didn't require a cable subscription or patience for commercial breaks. Its success forced other more complacent companies to rethink their businesses. By contrast, the box office shows what happens when a single company winds up with outsize influence.The Justice Department’s move to terminate the Paramount consent decree may not mean much (Disney wasn’t even one of the studios bound by it). But Disney doesn’t need to buy a theater anyway — it already owns the box office. Other media and tech giants should take that as a warning to step up their streaming game. Healthy competition ensures better content, more choice and further Netflix-like advances. Plus, the world needs only so many superhero flicks.To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Options offer a way to position for a rebound in lagging stocks. Plus, updated advice about trading weed stocks.
The idea that every company is a software company now feels especially relevant in retail—and not just at shops like Amazon Go, the experimental, cashier-free retail concept recently started by Amazon. Amazon Go, which has more than a dozen and a half stores in cities including Seattle, Chicago, San Francisco, and New York, currently has more than 100 open job listings for software engineers, optical engineers, hardware-design engineers, and experts in applied sciences. The dramatic shift reflects how retail jobs—from the C-level to the entry-level worker—are now requiring some understanding of tech.
Tech stocks are leading the market by a wide margin in 2019, but Q3 2019 profit declines and high valuations are causes for concern.
(Bloomberg) -- Sony Corp. is in talks to acquire a stake in the Indian television network controlled by billionaire Mukesh Ambani, as the Japanese giant seeks to tap booming demand for content in the South Asian nation, according to people familiar with the matter.The Tokyo-based company is currently conducting due diligence on Ambani’s Network18 Media & Investments Ltd. before any possible offer, the people said, asking not to be named as the information is not public. Sony is considering several potential deal structures, including a bid for the company or a merger of its own Indian business with Network18’s entertainment channels, one of the people said.Talks are at a preliminary stage and may not result in a transaction, the people said. Shares of Network18 surged as much as 19% in Mumbai on Thursday, while unit TV18 Broadcast Ltd. jumped 9.7%.While a successful deal may help Sony bolster its local offerings and take on upstart rivals such as Netflix Inc., it will give Ambani access to international content. The Indian tycoon’s wireless carrier, Reliance Jio Infocomm Ltd., has spent almost $50 billion in the past few years on its network to disrupt India’s telecommunications industry and has been luring users by offering local and overseas programming.“Our company evaluates various opportunities on an ongoing basis,” a spokesman for Ambani’s Reliance Industries Ltd., said in an email, declining to comment further. Representatives for Sony in India and Japan didn’t immediately respond to requests for comments.The talks come at a time when competition is heating up for paying viewers in a potentially lucrative market with more than half a billion smartphone users. Streaming companies such as Netflix to Amazon.com Inc. Prime are increasingly offering programs created locally to lure subscribers. Ambani’s Jio, while having the technology platform, is limited by the paucity of content it can stream, making such a deal with Sony crucial.“India is a massive OTT market, and any international OTT play will need to bolster its local strategy,” said Utkarsh Sinha, managing director at Bexley Advisors, a boutique firm in Mumbai, referring to over-the-top or streaming media services. “More partnerships or strategic alliances like this are likely in the next year or so.”Inside the Most Watched YouTube Channel in the WorldReliance Industries, the oil-to-petrochemicals conglomerate, unveiled plans last month to set up a digital-services holding company to fulfill the mogul’s ambitions for an e-commerce platform aimed at taking on the likes of Amazon.com and Walmart Inc.’s Flipkart Online Services Pvt.Sony operates in the South Asian country through Sony Pictures Networks India, which has a bouquet of channels including Sony Entertainment Television, reaching over 700 million viewers in India.TV18 Broadcast owns and operates 56 channels in India spanning news and entertainment. It also caters to the global Indian diaspora through 16 international channels.(Updates with analyst’s comment in seventh paragraph)To contact the reporters on this story: Baiju Kalesh in Mumbai at firstname.lastname@example.org;Anto Antony in Mumbai at email@example.com;P R Sanjai in Mumbai at firstname.lastname@example.orgTo contact the editors responsible for this story: Fion Li at email@example.com, ;Sam Nagarajan at firstname.lastname@example.org, Arijit GhoshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Twas the Night shift Before Christmasis currently the bestselling book on Amazon UK and is published next month in the US. Kiera O’Brien, charts and data editor at the Bookseller, a trade publication, says memoirs of jobs are a “huge trend”. Dr Amanda Brown’s The Prison Doctorhas sold about 61,000 copies in paperback, forensic pathologist Dr Richard Shepherd’s Unnatural Causeshas sold 108,000, while nurse Christie Watson’s The Language of Kindness is on 158,000.
Nov.20 -- Amazon.com Inc. is preparing to open supermarkets and pop-up stores without cashiers. It's an expansion of the technology used in Amazon Go convenience stores. Bloomberg's Matt Day reports from Seattle on "Bloomberg Technology."