News

Retail

Walmart Beats Q3 Estimates, Has Increased Inventory Ahead of Holiday Season

Kimberly Redmond | Equities.com |

Walmart Inc (NYSE: WMT) has yet to see a large wave of early holiday shoppers this year but expects that will change after the company kicks off its Black Friday sales, which will be spread across the month of November this year. Many retailers, including Target (NYSE: TGT), Best Buy (NYSE: BBY) and Amazon (Nasdaq: AMZN), began holiday promotions in October, warning consumers of longer delivery times and reduced product availability while urging shoppers to buy in-demand items as soon as they see them.


Home Depot Signs Up for Walmart's GoLocal Delivery Service

Kimberly Redmond | Equities.com |

The Home Depot Inc (NYSE: HD) is teaming up with Walmart Inc (NYSE: WMT) to provide same-day and next-day deliveries of tools, paint and other online purchases to customers’ doorsteps.

On Wednesday, the two retailers announced that The Home Depot will be the first to sign up for Walmart’s new white-label delivery service, GoLocal, which enables other merchants to tap into the retail giant’s vast delivery platform to fulfill orders.


Walmart To Add 20,000 Employees in Supply Chain Group

Kimberly Redmond | Equities.com |

Walmart Inc plans to hire 20,000 employees for its supply chain division to help keep merchandise moving ahead of what is expected to be a busy holiday shopping season.

In a press release Tuesday, the Bentonville, Arkansas-based retail giant, said the positions, which will be a mix of part-time and full-time jobs, will be in more than 250 Walmart and Sam’s Club distribution centers, fulfillment centers and transportation offices.


Walmart Launching New Delivery-as-a-Service Business for Other Retailers

Kimberly Redmond | Equities.com |

Walmart Inc (NYSE: WMT) is launching a new delivery service business, Walmart GoLocal, which enables other merchants to tap into the retail giant’s delivery platform to get orders to their customers.

In a press release Tuesday, Walmart said the B2B offering provides small and large retailers alike a new option for last-mile delivery — the final leg of an online order’s route to a customer’s doorstep — and will be ready in time for the busy holiday shopping season.


Walmart Easily Beats Quarterly Estimates, Raises Annual Same-Store Sales Forecast

Reuters | Equities.com |

Walmart Inc increased its annual U.S. same-store sales forecast after beating analysts' estimates on Tuesday, as shoppers coming out of lockdown bought more clothes, travel gear and back-to-school merchandise.

As store sales rose, however, the pace of Walmart's online growth slowed dramatically to 6% from 37% in the first quarter.


Apple and Goldman Sachs To Launch 'Buy Now, Pay Later' Service for Apple Pay Purchases

Kimberly Redmond | Equities.com |

Apple Inc (Nasdaq: AAPL) plans to launch a service that will enable users to repay Apple Pay purchases over several installments, according to Bloomberg News.

Citing sources familiar with the matter, Bloomberg reported Tuesday that the tech giant will partner with Goldman Sachs Group (NYSE: GS) as the lender for loans issued through the new “Apple Pay Later” feature.


Sam's Club Launches 'Scan & Ship' Service for Home Delivery of Large Items

Kimberly Redmond | Equities.com |

Sam’s Club is testing out a new app-based feature that enables shoppers to use a smartphone to buy big-ticket items at the store and have those purchases sent directly to their doorstep.

On Tuesday, the warehouse club, owned by Walmart Inc (NYSE: WMT), announced its Scan & Ship pilot program, which is aimed at making it easier for customers to purchase bulky merchandise that is hard to fit into cars, like patio furniture, grills, large electronics and mattresses.


Levi Strauss Beats Q2 Estimates, Raises Full-Year Profit Guidance

Reuters | Equities.com |

Levi Strauss & Co forecast fiscal 2021 profit above market estimates on Thursday as the apparel maker benefits from higher demand for its jeans, tops, and jackets from customers returning to their normal routines following COVID-19 vaccinations.

Shares of the company climbed about 4% in extended trading as it also reported better-than-expected results for the second quarter and increased its quarterly dividend by 2 cents to 8 cents.


Jewelry Retailer Alex and Ani Files for Chapter 11 Bankruptcy Protection

Kimberly Redmond | Equities.com |

Rhode Island-based jewelry retailer Alex and Ani LLC has filed for Chapter 11 bankruptcy protection and put itself up for sale.

On Thursday, the company said it entered into a restructuring support agreement (RSA) with debt holders and equity sponsors as it works to reorganize and strengthen its online and retail businesses.


Best Buy To Close All Stores on Thanksgiving Day

Kimberly Redmond | Equities.com |

Best Buy Co Inc (NYSE: BBY) stores will once again be closed on Thanksgiving Day 2021, joining a growing list of retailers who have already announced similar plans.

The closures mark the second year in a row that several major chains, including Walmart and Target Corporation, will be dark on what has traditionally been a huge holiday shopping day in conjunction with Black Friday.


Sponsored Financial Content

Market Movers