News

Report: Walmart gaining big share in grocery
Walmart is on fire in grocery and capturing a bigger share from traditional supermarkets. That's according to Loop Capital analyst Andrew Wolf, who estimates Walmart currently has a 21.5% market share in the U.S. traditional grocery market, reported CNBC. "Wal-Mart is taking back share from the traditional supermarket at an accelerating rate," Wolf said.
Retailers applaud reports regarding swipe fee reform
The retail industry's two major organizations are applauding reports that the House will drop efforts to repeal debit card swipe reform.

Teen apparel retailer Q1 beats Street as buyout talks heat up

A strong performance by Hollister helped Abercrombie & Fitch Co. beat first quarter sales and earnings expectations even as its namesake brand continues to struggle. The teen apparel retailer's better than expected quarterly showing comes as speculation about its future heats up. Abercrombie previously confirmed it is in preliminary discussions with several parties regarding a sale of the company.
Sears Q1 sales fall 20% but posts first quarterly profit in two years amid cuts

There was a glimmer of good news in Sears Holdings Corp.'s first quarter earnings report.
Chico's profit, sales and outlook disappoint

Chico's FAS gave a downbeat outlook amid first quarter earnings and sales that missed Wall Street estimates. The women's apparel retailer reported net income of $33.6 million, or $0.26 per diluted share, in the period ended April 30, compared to net income of $31.1 million, or $0.23 per diluted share, in the year-ago period. Analysts had estimated earnings per share of 29 cents for the quarter.
Online giant on the hunt for 'innovative' store designer

Amazon is beefing up the team responsible for its grocery store concept. According to a job description on LinkedIn, the company is looking for an "innovative" store designer to join its Amazon Go ACE (Architecture, Construction & Engineering) team. The ideal candidate, according to the posting, is a "self-starter who thrives in a fast-paced, ambiguous environment and has a deep passion for innovative retail design."
Auto parts/accessories retailer in slow gear in Q1

Advance Auto Parks turned in a disappointing performance in its first quarter. The chain reported earnings of $1.46 per share, down from $2.16 per share in the year-ago period. Adjusted EPS was $1.60, far short of the $2.16 per share FactSet consensus.
Twitter features fun — not transactional — bot program

A social media giant is getting in on the chatbot wave. Twitter launched a new, customizable Direct Message Card that brands can use to promote and share bots and other customer experiences built in its Direct Messages tool. Direct Messages helps companies create personalized ads and interactions — ranging from customer acquisition programs to engaging bots.
Amazon takes on Etsy with new bridal destination

Amazon is making its debut in the bridal category —a move that will take another hit against its crafting competitor Etsy.
Lowe's off to soft start in Q1

Even with a double-digit sales increase, Lowe's Companies still managed to disappoint analysts with first quarter profit and comparable sales that missed their estimates. Sales rose 10.7% to $16.9 billion, up from $15.2 billion in 2016. Same-store sales rose 1.9%, below the 2.6% increase expected by analysts polled by Consensus Metrix.