Target brought bad news Wednesday, with Q3 earnings miss plus a warning about a softer Q4, as families make tough budget calls on essentials vs. nonessentials heading into the holidays while high inflation lingers, registering a 7.7% rate in October. The company is calling for a low single-digit decline in Q4 comparable sales, and an operating margin of 3%.
Walmart gave the retail sector a much-needed pre-peak season shot in the arm, especially following Amazon’s recent miss, posting better-than-expected Q3 sales and adjusted earnings, as its low-priced grocery business soared and ecommerce revenue grew 16%. Three billion of the loss was from a settlement of opioid litigation.
Walmart is offering half off on new sign-ups to its $98-a-year Walmart+ subscription program, an offer which expires today, in a bid to boost membership ahead of Cyber Weekend and the rush to the conclusion of the peak holiday season. The giant retailer is also throwing in access to early Black Friday deals starting Nov. 7.
SellerX, one of many that jumped on the Amazon rollup bandwagon, is being sued by a game and toy company who sold it one of its successful brands in 2021, alleging SellerX is in breach of contract for failing to adequately promote it, causing sales to plummet along with the earnout potential.
The situation in the parcel industry — high shipping rates, increased surcharges and shipping delays — is a convergence of many complex issues, including supply/demand imbalance, a rough economy and geopolitical woes. Let’s take a closer look at how ecommerce and government laws have disrupted supply chains.
As the role of the store shifts to meet the needs of omnichannel shoppers, retailers must also evolve to ensure efficient and productive task execution. Make the most out of your omnichannel strategy by automating store operations with digital management processes, exceeding expectations and improving communications.
Lowe’s may still be Avis to Home Depot’s Hertz atop the home improvement sector, but it has something the orange big-box giant doesn’t: nationwide same-day delivery through an expansion of a trial that began in February with formerly grocery-only service Instacart in select locations.
Following in the footsteps of American Eagle Outfitters, Gap has launched its own fulfillment services platform, making the high-tech, automated network it has invested billions in available for other retailers to take advantage of as the in-house/outsourced services trend continues.
Walmart reported 12% second-quarter ecommerce growth, up 18% vs. 2020, as it gained market share in grocery and passed 1 million deliveries for its GoLocal service that provides last-mile service for other retailers including Home Depot, with inflation helping attract more upscale shoppers. The result was better than at rival Target.
Facebook is shutting down its livestream shopping venture two years in, putting its efforts behind the popular Reels short-form video platform as livestream shopping has yet to catch on here in a big way as in China, and retailers, brands and platforms need to rethink their approach. Experts weigh in on what they need to do.