Target Corp
Walmart shares hit all-time high, as retailer’s value focus attracts shoppers and investors
Customers shop at a Walmart store on May 18, 2023 in Chicago, Illinois. Scott Olson | Getty Images Shares of Walmart touched an all-time high Friday, as investors bet that the discounter will outmatch retail rivals and draw shoppers throughout the holiday season because of its reputation for value. The big-box retailer’s stock hit a […]
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Target CEO blames aggressive behavior, serious threats for pulling some Pride merchandise
Target CEO Brian Cornell defended his decision to pull some of the retailer’s Pride Collection merchandise off shelves earlier this year, saying backlash against the items led to the most serious safety threats that he can recall in his decade with the company. In an interview with CNBC’s Becky Quick that aired Thursday morning on […]
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Deal-hungry shoppers will squeeze holiday sales growth to pre-pandemic levels, retail group says
Holiday shoppers are expected to spend more this year, but their eagerness for value and hunger for deals is likely to push that growth back down to pre-pandemic levels, according to the National Retail Federation. The major trade group expects sales in November and December to rise by 3% to 4% year over year. That […]
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Target CEO says shoppers are pulling back, even on groceries
Brian Cornell, Chairman and Chief Executive Officer of the Target Corporation. Anjali Sundaram | CNBC Target CEO Brian Cornell says shoppers are pulling back, even on groceries, as they feel stressed about their budgets. In an interview with CNBC’s Becky Quick that aired Thursday morning, he emphasized that the retailer has posted seven consecutive quarters […]
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E.l.f. Beauty blows past Wall Street’s estimates, raises full-year guidance again
E.l.f. Beauty raised its full-year outlook for the second quarter in a row on Wednesday after posting another 76% year-over-year sales jump, beating Wall Street’s expectations. The cosmetics company, known for its viral TikTok marketing and middle-of-the-road pricing, also saw profits nearly triple compared with the year-ago period. Shares jumped about 9% in extended trading […]
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Retailers urge Congress to crack down on theft, as industry ramps up lobbying effort
Representatives from more than 30 retailers joined a major industry lobbying group on Capitol Hill on Thursday, as they ramped up pressure to pass a law that backers say will curb retail theft. The National Retail Federation escalated its campaign to rally support for the bill, known as the Combating Organized Retail Crime Act, which […]
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A credit card Christmas: Taking on shopping debt carries more risk this holiday season
A person walks past a Christmas lighting display in a window at Bulbs NYC lighting store near Union Square in New York City, Dec. 20, 2022. Alexi Rosenfeld | Getty Images Shoppers are springing for holiday gifts and decorations, but bustling mall traffic, full shopping bags and large hauls under the Christmas tree could hide […]
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Shein, the fast fashion darling mulling a U.S. IPO, opens up about forced labor, data privacy
Illustration by Elham Ataeiazar It’s no secret that Shein has ambitions to go public, but the fast-fashion juggernaut will have to overcome a slew of hurdles before it can win over Wall Street. The digitally native retailer skyrocketed to prominence during the Covid-19 pandemic after shoppers across the globe fell in love with its fashion-forward […]
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Walmart beefs up its third-party marketplace as it challenges bigger online rival Amazon
Walmart hosted its first seller summit for its third-party marketplace this summer. At the invitation-only event, CEO Doug McMillon made his pitch on why small businesses and brands should work with the retail giant. Walmart It was summer in Las Vegas — the temperature hit nearly 110 degrees that late August day — but Christmas […]
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Rite Aid files for bankruptcy amid slowing sales, opioid litigation
A Rite Aid store stands in Brooklyn on August 28, 2023 in New York City. Spencer Platt | Getty Images Rite Aid filed for Chapter 11 bankruptcy protection in New Jersey on Sunday and said it would begin restructuring to significantly reduce its debt. The company appointed Jeffrey Stein as its new chief executive officer […]
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