FedEx Gets Boost From E-Commerce Surge
"Thank goodness that we had a seven-day network when this absolute tsunami of packages hit us," CFO Alan Graf says.
E-Commerce Posts 18.8% Holiday Season Gain
Retailers offered omnichannel sales earlier in the season, "meeting consumers’ demand for the best deals across all channels and devices."
Black Friday Online Sales Reach Record $7.4B
Consumers made $2.9 billion in purchases from their smartphones, a record for mobile sales.
Payless to File Bankruptcy, Shutter U.S. Stores
A Chapter 11 filing would be the second for the shoe retailer in less than two years amid heavy debt and online competition.
Kroger Shares Soar on Big Q1 Earnings Beat
The grocery store chain says its Restock Kroger plan has gotten off to a "fantastic start," with digital sales, a key focus, up 66% in the first quarter.
Dollar Tree Shares Drop 16% on Earnings Miss
The rough holiday quarter for discount chains continues as Dollar Tree's margins were pressured by rising labor and freight costs.
Target’s Earnings Miss on Heavy Spending
The retailer "may hit the top line, like you saw this quarter, but will we see that flow through to the bottom line?" one analyst says.
Target to Buy Shipt Same-Day Delivery Service
The $550 million deal positions Target to compete with Amazon and Walmart in the same-day delivery wars.
French Firm to Buy Westfield for $15.7 Billion
The mall operator is being sold to Unibail-Rodamco as global retail adjusts to the shift of consumers from physical stores to online shopping.
Lululemon Beats Estimates, Comp Sales up 8%
"While other players in the sports and athleisure market struggle, Lululemon continues to go from strength to strength."
S&P Downgrades Guitar Center Rating to CCC-
The rating agency says Guitar Center bondholders could receive less than par in a restructuring, which would amount to a "selective default."