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 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.
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
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.
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.
The pandemic is forcing retailers to finally define just what their stores are for.
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 Credit Suisse analyst Michael Binetti.
“Eighty percent of people still set aside time to get in a car and go to a store to purchase something that they could have gotten online,” Binetti said in a May 14 discussion with the firm’s chief U.S. equity strategist, Jonathan Golub. “I think retail in the age of e-commerce is a game of starting points.”
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 tenants won’t be obliging.
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 for EPS of 85 cents and sales of $6.14 billion. Same-store sales increased 7%, with Family Dollar up 15.5% and the namesake Dollar Tree down 0.9%. Dollar Tree’s same-store sales were hurt by declines during the Easter holiday, with the party, candy and Easter categories down 490 basis points.
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 dollar store category to see how it has been affected, and what its pre-pandemic performance indicates about the potential for a resurgence.
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 afternoon, and the House could approve the bill as early as Thursday.
As Maryland restaurants continue to feel the pain of dining room closures, an industry group is calling on Congress to create a dedicated fund to support eateries across the country.
Some 40% of restaurants in Maryland are currently closed, and almost 150,000 restaurant workers are unemployed as a result of the coronavirus pandemic, the Restaurant Association of Maryland said Tuesday in a news release.
Real estate owners can thank a fix to the “retail glitch” — rectified in the $2 trillion economic bailout — for a new tax windfall.
The economic stimulus package that the federal government passed last month corrected what is widely considered to be a drafting error from President Trump’s 2017 tax cuts, which allowed businesses to write off the costs of certain improvements right away.
In these uncertain times, you might be wondering what the COVID-19 crisis means for your financial future. Three retirement relief measures made it into the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by the Senate. Here’s how these three key provisions will affect your retirement savings if the bill passes
Learn how to set-up a self-directed IRA. This video explains the 4-step process to set up a self-directed IRA from the Retirement Industry Trust Association (RITA). You will learn:
√ How to find an IRA custodian or Administrator
√ How to buy real estate in a self-directed IRA account
√ How to avoid prohibited transactions
√ And a lot more in just 4 steps and a few minutes
The rapid outbreak and spread of COVID-19 took many businesses, communities and governments by surprise. While the immediate health of employees is the chief concern, leaders in commercial real estate have started to address the impact of the virus on transactions in the coming year.
On Friday, Congress passed the Coronavirus Aid, Relief, and
Economic Security (CARES) Act. It’s an estimated $2 trillion package, which specifically allots $10 Billion for EIDLs and $350 billion for Paycheck Protection Loans (more on those below) to help small businesses.
Americans are learning to adapt to change quicker than ever. Fashion trends change daily, and the weather in Nebraska changes every minute, but one thing stays constant: the security of real estate investment. The retail market has, in fact, changed, but there are still numerous ways to make the most out of the vacant big-box store at your shopping center. Retail real estate is still a secure investment if you are open to modifications.
For properties acquired after September 27, 2017, owners can take a 100% benefit in year one. The property doesn’t have to be new; it just has to be new to you. That means that all of the personal property and land improvement benefit no longer has to be spread over five, seven or 15 years. Instead, it can all be taken in year one.
That can equate to a massive windfall of depreciation in year one. But why would somebody want that?
It’s gearing up to be another solid year for Baltimore’s retail industry. Thus far, the first quarter has shown few surprises and has largely been a continuation of the success the sector saw in fourth-quarter 2019.
Target’s increased focus on building its e-commerce business is paying off.
The discounter, which used to rank No. 11 in the U.S. in e-commerce sales, is now poised to bypass three competitors to become No. 8, according to a new report from eMarketer. The report shows strong growth for Target’s e-commerce business while that of Qurate Retail Group (owner of HSN and QVC) and Macy’s will decline.
TJX. Cos. showed the strength of its off-price model in the fourth quarter with sales and earnings that beat expectations amid increased store traffic. All its banners came up as winners.
Burlington Stores is getting out of the e-commerce business.
After reporting fourth-quarter sales and earnings that beat Street estimates, the off-price retailer dropped a bombshell on its quarterly call with analysts. Company executives said that Burlington is winding down its e-commerce operations, which account for about 0.5% of total sales, and focus on growing its bricks-and-mortar business. The company currently operates 720 stores in 45 states and Puerto Rico.