108.93 +1.25 (1.16%)
After hours: 7:53PM EST
|Bid||108.00 x 1000|
|Ask||108.98 x 900|
|Day's Range||104.37 - 108.52|
|52 Week Range||95.00 - 125.38|
|Beta (5Y Monthly)||0.40|
|PE Ratio (TTM)||20.75|
|Earnings Date||May 18, 2020|
|Forward Dividend & Yield||2.16 (1.96%)|
|Ex-Dividend Date||Mar 18, 2020|
|1y Target Est||128.38|
Is it time to buy stocks now that the coronavirus has caused stocks to crash? Top experts weigh in on Yahoo Finance.
The impact of the coronavirus on the U.S. economy would have been even more severe had President Trump not imposed tariffs, says Modell.
Walmart confirmed that it will launch a membership program, Walmart+, that some are already calling an Amazon Prime rival, tough it faces a heap of challenges.
Target is set to report its fourth quarter 2019 financial results before the market opens on Tuesday, March 3. So what's next for TGT stock amid the coronavirus-based market selloff?
An LLC tied to a Northern Virginia accountant has paid $7.25 million for the former Leesburg Walmart (NYSE: WMT) store. Mitco Shenandoah II LLC, led by Robert W. Mitchell III of Vienna, bought the roughly 96,000-square-foot building at 950 Edwards Ferry Road on Jan. 31, according to public records. The retailer replaced the Edwards Ferry Road store with a superstore in the Peterson Cos.' Compass Creek development.
If the coronavirus that has sickened more than 80,000 people spreads across the U.S. as health officials are warning, consumer-facing companies would be the first to be hit as their customers isolate themselves and avoid public spaces, experts said Wednesday.
Walmart Inc. (NYSE: WMT ) is planning to launch a subscription-based service similar to Amazon.com Inc.'s (NASDAQ: AMZN ) Prime, Recode reported Thursday. What Happened The veteran Arkansas-based retailer ...
Beyond Meat Inc said on Thursday it expects full-year sales to grow as much as 71%, after reporting that deals with retailers and restaurants helped to more than triple fourth-quarter sales and substantially narrowed its loss. The El Segundo, California-based company - whose Beyond Burgers and Sausages are driving a global craze for plant-based meat products - struck several high-profile deals last year with fast-food chains including McDonald's Corp and Dunkin' Brands Group Inc. As consumers grow increasingly health-conscious and concerned about the environmental impact of industrial animal farming, the plant-based meat market is expected to expand to $140 billion.
Walmart Inc. confirmed Thursday that it's creating a membership program called Walmart+. The company declined any further detail about the program. However, a Recode report says the program, which could start testing soon, will be a competitor to Amazon.com Inc.'s Prime program, which includes one-day delivery, access to Prime Video, and other perks. Walmart has been making major changes recently to its e-commerce capabilities, folding the Jet.com staff into its e-commerce arm and ending the Jetblack personal shopping service. Walmart stock has gained 14.7% over the last year while the Dow Jones Industrial Average has gained 1.2% over the period.
The world's largest brick-and-mortar retailer is gearing up to do a public test run of a new membership service called Walmart+.
Walmart debuted fulfillment services to attract third-party sellers as the Dow Jones giant steps up its battle with Amazon. Shares rose slightly.
Walmart Inc. (NYSE: WMT) announced today that Brett Biggs, executive vice president and chief financial officer, will participate at the Raymond James 41st Annual Institutional Investors Conference Wednesday, March 4 at 10:25 a.m. EST and the UBS Global Consumer and Retail Conference Thursday, March 5 at 9:45 a.m. EST. Both sessions will be webcast live through the "Events" link at stock.walmart.com. Transcripts of these sessions will be made available and archived on the company’s website.
Walmart , the world's largest retailer, is in talks with possible buyers of a stake in its British supermarket Asda, which it failed to combine with Sainsbury's last year. Asda and Walmart said in a joint statement on Wednesday that discussions with "a small number" of suitors followed "inbound interest" but no decisions had been taken. In common with its traditional big four British rivals - market leader Tesco , Sainsbury's and Morrisons - Asda has been losing market share to German-owned discounters Aldi and Lidl, which are still opening lots of new stores.
(Bloomberg) -- Chuck Gregorich, who sells China-made patio furniture on Amazon.com Inc., expects to lose as much as $2 million in sales this year due to factory closings and other coronavirus-related slowdowns. So he’s cutting his ad spending on Amazon and thinking about raising prices to avoid running out of inventory. The sudden shift in sales tactics by merchants like Gregorich threatens Amazon’s fastest-growing and profitable revenue source.“If we’re going to run out, why not run out at full price,” he says. “We have to make sure the sales we have are as profitable as they can be."Amazon merchants spent about 6% less on advertising over the past two weeks than they did a year ago, says Daniel Knijnik, who runs Quartile Digital, a New York firm that helps manage Amazon advertising for 2,300 brands selling goods on the site. Many of them are small outfits forced to react more quickly than big brands selling to the likes of Walmart Inc. and Target Corp., he says, because they lack the inventory stockpiles and alternative suppliers their larger counterparts can draw on.Amazon’s advertising sales are a small piece of overall revenue, but they help the company offset the huge costs of storing and shipping millions of products. In the holiday quarter, what Amazon calls "other" revenue—most of which is advertising—totaled $4.78 billion, up 41% from a year earlier.Like many of its tech industry peers, Amazon started 2020 predicting strong sales growth. Now mounting fears of a pandemic and the related economic fallout has put those rosy projections in question. Amazon’s shares had dipped 5.9% by the Tuesday close and were up less than 1% at midday Wednesday. The falloff in advertising could be a harbinger of worse news to come.Amazon last month forecast sales of $69 billion to $73 billion in the current quarter and has not adjusted that outlook in response to the coronavirus. Apple Inc. warned that it is likely to miss its sales forecast for the current quarter due to the outbreak, which disrupted smartphone production and forced store closings in China. “We are monitoring developments related to COVID-19 and taking appropriate steps as needed,” Amazon said in an email, using the official name for the virus.The company is taking other measures to soften any virus impact for smaller sellers. As previously reported by Business Insider, Amazon on Feb. 7 advised merchants that they could put their accounts in “vacation status” to avoid getting penalized by its algorithms if they suspected items would run out of stock. It also instructed merchants to cancel any customer orders they would not be able to fulfill.“If your performance metrics have been impacted by this event, please include a brief description of how your business was impacted when you respond to the relevant performance notification,” Amazon said in a notice. “We will consider this unforeseen event when we evaluate your account’s recent performance.”More than half of the items sold on Amazon come from independent merchants like Gregorich, who pay the company a commission only when shoppers buy their goods. That puts Amazon in a very different position than traditional retailers when reacting to supply-chain disruptions. Walmart and Target remain in constant contact with their wholesale suppliers about postponing delivery deadlines and finding alternative sources for products to keep shelves stocked. Amazon has those relationships as well, but has less direct contact with smaller merchants.Its marketplace is largely managed by machine, with algorithms deciding in real time which products people see. Prices, consumer feedback, advertising and the speed of delivery all factor into the calculation. Amazon’s algorithms can punish merchants whose products sell out by making it harder for shoppers to find their wares, giving sellers an incentive to protect their inventory until they can replenish it. Cutting ad spending is the easiest lever for them to pull.“We have reduced our ad spend and have identified the stock level where we’ll increase prices to slow down the rate of sale even more,” says Jerry Kavesh, a Seattle merchant who sells cowboy boots and hats on the site.Mark Looram, managing director of GTO Limited, which oversees factory operations in China and the Asia Pacific region for big importers, expects prices for China-made products to shoot up on Amazon more quickly than at competing retailers that have more control. “One of the major differences with Amazon sellers is that they control their pricing and can increase or decrease depending on market conditions,” he says.Price spikes can attract the attention of regulators. In 2017, after back-to-back hurricanes struck Florida and Texas, Amazon fielded complaints of price-gouging on bottled water. In fact, the high price reflected the expense of quickly shipping a heavy case of water across the country when local supplies were depleted. It was an example of how Amazon’s machines, designed to help match supply with demand, lack the judgment of a human touch.So far, there haven’t been reports of virus-related shortages of essentials in the U.S. Instead, merchants are facing delays in replenishing inventory of things like dog treats, wine refrigerators and patio umbrellas. With no clear answers about when China will be back to full production, sellers are trying to stretch out what they have until new supplies roll in. Even with those adjustments, some merchants have already run out of stock.“I have clients in various categories that are getting crushed because of the coronavirus,” says Dan Brownsher, who runs Channel Key, a Las Vegas e-commerce consulting business with more than 50 customers who sell products on Amazon. “What was supposed to ship in February or March now won’t be shipped until April. We have items out of stock that won’t be back until April.”Virus-related disruptions will be most immediate to those selling spring and summer seasonal goods like inflatable pool toys and patio umbrellas, which could push any impact on Amazon into the second quarter.Gregorich might have to hold off introducing a new line of patio furniture until next year. He ordered 14 containers of products from a Chinese factory, which recently refunded his deposit because it can’t complete the order in time. He’s keeping in touch with the factory in case it can make part of the order before the outdoor furniture selling season ends in the summer.“We told the factory to let us know where they are and maybe get a partial order in the summer and still make some sales so we don't miss the whole season,” he says. “We’re going to miss that product this year.”(Updates shares. A previous version of this story was corrected to show that the note Amazon sent to merchants was previously reported by Business Insider.)To contact the author of this story: Spencer Soper in Seattle at email@example.comTo contact the editor responsible for this story: Robin Ajello at firstname.lastname@example.org, Andrew PollackFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Walmart Inc. is exploring the sale of a stake in its U.K. grocery business Asda amid interest from potential investors, nearly a year after a merger with rival J Sainsbury Plc fell apart, people with knowledge of the matter said.Asda has attracted interest from suitors including private equity firms, the people said, asking not to be identified because the information is private. Walmart is working with an adviser and has recently started a formal process for the stake sale, the people said.Walmart, the world’s largest retailer, plans to keep a significant minority holding in the U.K. business after any deal, one of the people said. The companies confirmed in a statement they’re considering whether there’s an opportunity for third-party investment in Asda, alongside Walmart, after receiving approaches.“Together, we are in discussions with a small number of interested parties who share Walmart and Asda’s commitment and passion to growing the business,” the two companies said in an emailed statement in response to Bloomberg queries. No final decisions have been made, and Walmart “firmly believes” an initial public offering remains an attractive long-term objective for Asda, they said.U.K. antitrust authorities last year blocked Walmart’s plan to combine Asda with Sainsbury in a 7.3 billion-pound ($9.4 billion) deal, saying it would lead to higher prices and less choice for shoppers. Walmart has since been exploring a potential listing of the business.Walmart has brought in partners for some other international businesses. In China, it bought a stake in e-commerce operator JD.com Inc. in 2016 and folded its own online marketplace into the Beijing-based company’s operations. It sold control of its Brazilian unit to buyout firm Advent International in 2018 and took over Indian online retailer Flipkart in a $16 billion deal.Grocers in the U.K. have been struggling as the more established chains lose customers to discounters like Aldi and Lidl. They’ve been cutting jobs and selling assets to help counter the downturn.Tesco Plc, Britain’s largest grocery chain, is inviting Thai tycoons to the second round of bidding for its operations in Thailand and Malaysia, which could fetch more than $7 billion, Bloomberg News reported this month. Wm Morrison Supermarkets Plc expanded its alliance with Amazon.com Inc. last year to offer groceries in more cities across the U.K.Asda’s total sales fell 1.3% in the last three months of 2019 after customers cut back on spending for Christmas. Consumers are “highly budget conscious” and “previously seen trends of growth” are starting to slow, Asda Chief Executive Officer Roger Burnley said this month.(Updates with moves by other U.K. grocers from seventh paragraph. An earlier version of this story corrected the description of the size stake being sold in the third paragraph)\--With assistance from Deirdre Hipwell.To contact the reporters on this story: Dinesh Nair in London at email@example.com;David Hellier in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Ben Scent at email@example.com, Eric PfannerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
With its newly-opened cashierless supermarket in Seattle, Amazon is not only challenging traditional checkouts but also the American grocery bigwigs to up their game in the grocery industry.
Target’s online business has increased enough to put it among the top-10 U.S. e-commerce retailers while Macy’s and the parent company of the Home Shopping Network dropped further down the list, per an annual study by market research company eMarketer. “At a time when brick-and-mortar stores are struggling to keep up with the fast-changing retail landscape, Target seems to have hit the bullseye,” eMarketer forecasting analyst Cindy Liu said. Despite climbing from number 11 to 8th in the ranking, Target (NYSE: TGT) still has just a 1.2 percent share of total U.S. retail e-commerce sales, compared with number-one ranked Amazon’s 38.7 percent, up from 37.3 percent in 2019.