Target crushes estimates as retailer uses new shopper habits to gain market share
Target said its third-quarter net income rose to $1.01 billion, or $2.01 per share, from $714 million, or $1.39 per share, a year earlier. Excluding items, Target earned $2.79 per share, considerably more than the $1.60 per share expected by analysts.
Walmart unveils new store design with self-checkout kiosks, contactless options rolling out to Supercenters
Walmart unveiled a reimagined store design Wednesday rolling out to 200 locations this fiscal year, which ends in early 2021, and 1,000 by next fiscal year that officials said will create a “seamless” omni shopping experience with more self-checkout kiosks and contactless payment options.
Inside the Latest Safeway Location
The brand new, 60,000-square-foot supermarket features a walk-in wine cellar, specialty popcorn shop, raw oyster bar and 200 types of cheese
STR: US hotel results for week ending 4 July
U.S. hotel occupancy fell 30.2% to 45.6% during the week ending 4 July. ADR dipped 20.9% to $101.36 and RevPAR decreased 44.8% to $46.21. Occupancy had risen in week-to-week comparisons for 11 straight weeks since mid-April.
Mall and Hotel Loans Are Blowing up Commercial Mortgage-Backed Securities
The delinquency rate for Commercial Mortgage Backed Securities (CMBS) spiked by 317 basis points to 10.3% in June, after having spiked by 481 basis points in May, which had been the largest month-to-month spike in the data going back to 2009, according to Trepp, which tracks securitized mortgages for institutional clients.
Brick and mortar’s next chapter
The pandemic is forcing retailers to finally define just what their stores are for. E-commerce is not a great store As beleaguered as brick and mortar is, retail can’t thrive without it, in part because e-commerce remains a lackluster and inefficient way to shop for nonessential goods, and a poor conductor of impulse-buying, according to […]
A New Work-From-Home Movement Is Gaining Steam. Why Aren’t Office Landlords More Worried?
A chasm is widening between owners and occupants of office real estate around the country. Though the coronavirus pandemic has thrust thousands of companies into remote work, office landlords are counting on most of them eagerly returning to their now-deserted offices. Given how well many companies report the forced experiment has gone, data shows that many […]
Dollar Tree shares jump after earnings beat expectations
Dollar Tree Inc. DLTR, -0.22% shares jumped 3.4% in Thursday premarket trading after the discount retailer reported first-quarter earnings and sales that beat expectations. Net income totaled $247.6 million, or $1.04 per share, down from $267.9 million, or $1.12 per share, last year. Sales totaled $6.29 billion, up from $5.81 billion last year. The FactSet consensus was […]
Dollar Stores – Who Could Outperform?
The coronavirus has certainly impacted all sectors of retail, some more deeply than others. But perhaps even more important than the short term impact is how well-positioned different sectors are for the day after. So we’ve been analyzing sectors like grocery, QSR and fitness to break down their current performance and post-coronavirus potential. This time, we dove into the […]
Senate approves $310 billion in new SBA PPP loan money. What you should know
Small businesses and lenders have been waiting with bated breath for news of additional funding for the Small Business Administration’s Paycheck Protection Program, and now Senate Republicans and Democrats have reached a deal on Tuesday for a bill approving over $480 billion in additional coronavirus relief. The bill was passed in the Senate on Tuesday […]