retail
Costco Wholesale Corporation (NASDAQ: COST) is trading at an all-time high after Uber Eats teamed up with the retail behemoth on Thursday. Details of Costco-Uber partnershipUsers can now have groceries and other merchandise delivered from Costco via Uber Eats. Members of the wholesale club will get better pricing as well as a 20% discount on Uber One. $COST is now trading at a forward price-to-earnings multiple of nearly 50 which makes it even more expensive than Nvidia at 36 only. And that’s when the semiconductor behemoth is expected to roughly double its earnings over the next year while Co...
Invezz
New York (AFP) - Walmart reported higher profits Thursday behind solid gains at US stores as the retail giant pointed to increased purchases by wealthier shoppers and improving e-commerce sales. Profits more than tripled to $5.1 billion for the quarter ending April 30 on a six percent rise in revenues to $161.5 billion. Earnings in the 2023 period were dented by exceptional losses in equity investments. The results, which topped analyst estimates, lifted shares, which rose 6.3 percent in morning trading. The improved sales to wealthier shoppers reflect a focus on affordable pricing and conveni...
AFP
Walmart Inc (NYSE: WMT) announced plans of taking its data analytics platform global on Thursday. Shares of the retail behemoth are up 5.0% at writing. What is Walmart Luminate?Luminate was a result of a collaboration between Walmart and a third-party research firm called Dunnhumby in 2021. The data analytics platform is based out of Bentonville, Arkansas. According to $WMT: Mirroring the strategy used in the U.S., this will be a phased launch, starting with Shopper Behaviour followed by Channel Performance and Customer Perception. Note that Walmart Inc also reported its financial results for ...
Invezz
Discount home retailer Walmart Inc announced its Q1 earnings today before US markets opened. With the US economy embattled with stickier-than-expected inflation and interest rates still punishingly high for consumers, the market was eager to see what would come from today’s earnings. Walmart has a reputation for results outperforming when the US economy is in dire enough straits (lie in the 2008 financial crisis), but its also known to lose revenue on its big-ticket purchases when consumers tighten their belts. Read our analysis on the significance of today’s Walmart earnings here The financia...
Invezz
Tomorrow, Walmart Inc, one the largest US multinational retailers in the world, reports its earnings for the first quarter of its FY 2025. And they’re more important than you might think – even if you’re not a Walmart investor. Why are Walmart earnings important?What many people don’t know is that Walmart is often considered by analysts to be a bellwether stock for the average American household’s financial circumstance in the last quarter. Whether spending increased on big ticket items – or decreased instead – at stores as widespread as Walmart can be a valuable window into the health of the ...
Invezz
Amazon.com Inc (NASDAQ: AMZN) is in focus today after Adam Selipsky – the chief executive of its cloud computing segment said he will step down next month. Matt Garman named the new CEO of AWSSelipsky will be succeeded by Matt Garman who currently is the senior vice president of sales and marketing at AWS. Adam Selipsky quoted desire to spend more time with family as the reason for his departure. His memo to employees reads: Now is an appropriate moment for me to make this transition, and spend more time with family, recharge a bit, and create some mental free space to reflect and consider the...
Invezz
As Walmart Inc. (NYSE:WMT) gears up to reveal its Q1 2025 earnings on May 16, 2024, investors are eagerly awaiting insights into the retail giant’s performance. Amidst a flurry of projections and expectations, analysts have painted a mixed picture for Walmart’s upcoming financials. Forecasts suggest revenue of $158.0 billion, adjusted EBITDA of $9.56 billion, operating profit of $6.56 billion, and earnings per share (EPS) of $0.52. However, a cautious undertone emerges from downward revisions in EPS estimates, with 17 out of 23 analysts revising their EPS estimates downward in the last 90 days...
Invezz
Walgreens Boots Alliance Inc (NASDAQ: WBA) is gaining at writing following a report that it’s contacting buyers who may be interested in taking over Boots. What is Boots UK worth?The drugstore chain based out of Nottingham, United Kingdom is worth close to $9.0 billion. Walgreens has already engaged with advisors to hold preliminary talks with the potential buyers, as per sources that talked to Bloomberg on condition of anonymity. What the Nasdaq-listed firm plans on doing with proceeds provided that it does indeed secure a deal remains unclear. Lowering the debt on its balance sheet, however,...
Invezz
GameStop Corp (NYSE: GME) opened about 40% up on Monday after “Roaring Kitty” made a post on “X” for the first time since 2021. Why does Roaring Kitty matter for $GME?That’s significant since Keith Gill who goes by “Roaring Kitty” on X and “DeepF******Value” on Reddit is the one who inspired the short squeeze of 2021. He, therefore, is the pioneer of the meme stock frenzy so to speak. Gill even faced a class-action lawsuit that alleged he acted as if new to trading but was a licensed professional instead. The ex-marketer at Massachusetts Mutual Life Insurance testified before Congress as well....
Invezz
A gift card scam is currently preying on Instacart shoppers - exploiting not just buyers but also delivery personnel. This is how the scam unfolds: A scammer, posing as a customer, orders just a few minor items, like a drink or a piece of fruit. Once an Instacart shopper accepts the order, the scammer (pretending to be the customer) messages the shopper and inquires about adding one or more gift cards, frequently with a high value of $100 (£79.83) or more, to the order. Next, the customer asks the shopper to send the gift card code, allowing them to spend the money before the shopper finishes ...
IBTimes
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