Conversations On Retail

Nordstrom beat Wall Street’s revenue expectations and delivered a slightly rosier full-year sales outlook. The retailer’s sales growth is notable at a time when discretionary merchandise and the luxury sector have been under pressure. Clothing and shoe purchases lifted the company’s performance, with sales of women’s apparel and activewear jumping by double digits year over year. CNBC

Gap raised its guidance ahead of the holiday shopping season as it touted a “strong start” to the all-important fourth quarter. The apparel giant behind Old Navy, Banana Republic, Athleta and its eponymous banner blew past Wall Street’s earnings estimates despite a tough quarter affected by unseasonably warm weather and hurricanes. Gap is in the midst of a turnaround under CEO Richard Dickson and is leaning into better marketing to drive cultural relevance.

Dollar stores companies were some best performing stocks in the S&P 500 during the Great Recession, said Piper Sandler managing director Peter Keith. But over the past couple of years, dollar stores have not seen the?same success. CNBC, Dollar Tree Stores, Dollar General, Walmart

The TJX Companies, Inc. reported a strong third-quarter performance, surpassing Wall Street expectations with earnings per share of $1.14 and revenue of $14.06 billion. However, its holiday quarter guidance fell short, with expected earnings per share between $1.12 and $1.14, below analysts’ projections of $1.18. While the company’s U.S. divisions showed slower growth, its international segment, particularly in Europe, posted impressive results. TJX is optimistic about the holiday season and its expansion plans, including a new venture in Spain and a stake in the Middle Eastern retailer Brands for Less. CNBC

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Shares of Seven & i Holdings, the owner of 7-Eleven, surged nearly 11% after reports revealed that the company's founding family is raising over $50 billion to take the company private by March 2025. This plan, which involves securing funds from Japanese megabanks and major U.S. financial institutions, would mark the largest buyout of a Japanese company if it goes through. While there have been discussions with Canadian convenience store giant Alimentation Couche-Tard, no official deal has been reached.

Walmart is entering the holiday season with strong momentum after exceeding expectations in Q3, posting a 5.5% increase in revenue and a 27% jump in e-commerce sales. With rising traffic in both stores and online, the retailer saw a 2.1% increase in the average ticket and grew its market share, particularly among upper-income households. Walmart has raised its full-year sales and profit forecasts, signaling continued strength heading into the final quarter. Read more on how Walmart's focus on value, omnichannel growth, and customer experience is driving its success. https://lnkd.in/gJpJc2Rb Chain Store Age, Marianne Wilson

The Home Depot’s major acquisition is boosting the business as home improvement demand remains slow. The retailer announced it was acquiring SRS Distribution Inc., a company that sells supplies to roofing, pool and landscaping professionals, for $18.25 billion in March and closed the deal in June. The companies are testing how they can work together, such as selling SRS’ wider assortment of shingles, landscaping items and more at the pro desk in Home Depot’s stores. CNBC, Melissa Repko

Alibaba Group said net income rose 58% year-on-year over the quarter ending Sept. 30, on the back of the performance of its equity investments. Revenue, meanwhile, came in at 236.5 billion yuan, 5% higher year-on-year but below an analyst forecast of 238.9 billion yuan, according to LSEG Data & Analytics. The results come at a tricky time for Chinese commerce businesses, given the broad sluggishness in the world’s second-largest economy. Conversations On Retail, CNBC, Ruxandra Iordache

A majority (57%) of American retail workers report feeling unsafe going into the peak holiday shopping season, according to Motorola Solutions’ second-annual U.S. Retail Worker Safety Report. Chain Store Age, Zachary Russell Brand L. Elverston