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Costco is seizing control of its chicken supply chain so it can keep the price of it’s rotisserie chickens at about 5-bucks. Yahoo Finance's Adam Shapiro, Brian Cheung and Pras Subramanian discuss on On the Move.
(Bloomberg) -- Uber Technologies Inc. plans to buy a majority stake in online grocer Cornershop, a deal designed to extend its geographic reach and bolster profits by bundling food delivery with rides.The move, which is subject to regulatory approval, could end uncertainty for the Santiago, Chile-based startup backed by Accel and other venture investors. Walmart Inc. announced its intention more than a year ago to purchase Cornershop outright for $225 million and re-sell the company to its Mexican subsidiary, only to have Mexican regulators oppose the move in June for antitrust reasons.Cornershop is the largest home delivery platform in Mexico and Chile. The app allows users to order groceries from a variety of stores such as Costco Wholesale Corp., Petco Holdings Inc., Walmart, bakeries and pharmacies, and have everything delivered at once, usually within 90 minutes. The items usually carry a higher price tag on top of the delivery fee. The four-year-old startup also operates in Peru and Canada. Terms of the deal weren’t disclosed.The arrangement could play a significant role in Uber’s strategy of layering more profitable services atop ride-sharing. Since the company’s disappointing initial public offering, the share price has dropped more than 30% and Chief Executive Officer Dara Khosrowshahi has sought to reassure investors that Uber is focused on turning a profit and continuing to grow.When Walmart attempted to buy Cornershop, analysts saw the purchase as a way for the retailer to increase its e-commerce presence with the help of an established app that brought a giant database of users and more importantly, its consumer patterns.“It’s already positioned, it knows the market well and it was going to accelerate this process for Walmart,” said Marisol Huerta, an analyst at Banco Ve Por Mas. “It’s the same strategy for Uber.”The acquisition by Uber means the San Francisco-based company will expand on its Eats offering with the ability to deliver not only prepared food from restaurants, but a wide set of groceries, Huerta said. “They’ll be entering a new market but they’ll already have a big data base and the structure to operate in it.”Uber says it expects the deal to close in early 2020. Cornershop will continue to operate under its current leadership, reporting to a board with majority Uber representation.“Whether it’s getting a ride, ordering food from your favorite restaurant, or soon, getting groceries delivered, we want Uber to be the operating system for your everyday life,” Khosrowshahi said in a statement announcing the deal.(Updates with comments from analyst in the sixth paragraph.)To contact the reporters on this story: Lizette Chapman in San Francisco at email@example.com;Andrea Navarro in Mexico City at firstname.lastname@example.orgTo contact the editors responsible for this story: Mark Milian at email@example.com, Molly Schuetz, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Carter's (CRI) is witnessing dismal margins and high inventory levels. Nevertheless, the company is on track with its Retail Strategy and omni-channel efforts.
Ross Stores (ROST) gains from the off-price model, merchandising initiatives and store-expansion strategy. However, high costs and tariffs remain near-term hurdles.
Walmart is a retail titan taking the fight to Amazon. But earnings growth is tepid. The stock is hitting new highs, but is it a good buy?
Costco Wholesale Corp. said late Wednesday that September same-store sales rose 4.2% from a year ago. The warehouse club said September net sales rose to $14.41 billion from $13.64 billion a year-ago. Costco shares declined 0.2% after hours, following a 1.7% rise to close the regular session at $296.90.
Guggenheim analyst John Heinbockel called Costco’s September results solid. U.S. comparable sales were up 5%, while e-commerce grew 17.8%.
Costco's (COST) better price management, strong membership trends and increasing penetration of e-commerce business have been playing a crucial role behind the healthy comps run.
So far, Costco stock has outperformed the broader markets by a wide margin. Costco shares have risen about 46% on a YTD basis as of Wednesday.
Futures swung in wild fashion amid shifting China trade news. Microsoft and Nvidia flash bullish signs.
Investing.com – Wall Street was flat on Thursday as high-level trade talks kicked off in Washington, as the U.S. and China attempt to work towards a deal.
ISSAQUAH, Wash., Oct. 09, 2019 -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $14.41 billion for the retail month of.
Costco Wholesale is committed to protecting workers in its supply chains. In furtherance of this commitment, the Company confirms that it has acted appropriately relative to children’s sleepers that have been referenced in the media. The sleepers that had been on sale at Costco until very recently were sourced from factories outside the Xinjiang region and without connection to the entity that was recently named as the subject of a detention order by the Customs and Border Patrol. Those factories were the subject of favorable audits for labor practices and have not been accused of wrongdoing. Costco’s supplier also sourced sleepers from a factory in Xinjiang, but Costco has not received any of those sleepers. That factory, too, was the subject of favorable audits that showed the absence of forced labor and other favorable results.
Investors who are eager to find stocks that can lead the market in the midst of escalating political uncertainty and slowing economic growth should consider the new "Stable Growers" basket of 50 stocks assembled by Goldman Sachs. This is the first of two stories that Investopedia will devote to Goldman's report, the second to come on Thursday. "Investors usually assign a valuation premium to stocks with historical EBITDA growth stability.
Is Costco Wholesale Corporation (NASDAQ:COST) a good stock to buy right now? We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and 20 payment structure, hedge funds have more incentives and resources than the average investor. The funds […]
It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...
With third-quarter earnings season about to ramp up meaningfully next week, many investors may be worrying about how profits will stack up, especially given recent mixed economic data. As (GS)’ David Kostin writes, consensus estimates for earnings call for companies in the S&P 500 to see earnings per share fall by 3% in the third quarter, which would be the first year-over-year quarterly decline since the second quarter of 2016 (or excluding energy, since the second quarter of 2009).