• Target trounced rivals like Walmart in the third quarter

    12 days ago - By Fortune

    On Wednesday, Target reported another set of blistering quarterly financial results that show how well its merchandise and e-commerce strategies are working, enabling the discount chain to outdo its peers, notably longtime rivals like Walmart and Kohl's .
    Comparable sales at Target rose 20.7% in the quarter ended October 31, stemming from the popularity of its newer home furnishings, its Good & Gather food brand, and the Cat & Jack kids' clothing line. That was nearly twice the 11.6% growth analysts had been expecting, according to Consensus Metrix, sending shares up 2.5% in premarket...
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  • Walmart's ecommerce sales grew 79% year over year, and this growth may continue into the holiday shopping season

    Walmart's ecommerce sales grew 79% year over year, and this growth may continue into the holiday shopping season

    12 days ago - By Business Insider

    Summary List Placement The retail giant's earnings release for its fiscal Q3 2021 shows that ecommerce sales grew 79% year over year -a slowdown from last quarter, which saw a whopping 98% YoY growth.
    It's worth noting that despite the slowdown, Walmart's ecommerce figures are still significantly higher than prepandemic levels: In its fiscal Q3 2020 , ecommerce sales increased 41% annually. Walmart CEO Doug McMillon said he attributes the retailer's ecommerce sales growth to new customer shopping behaviors-likely referencing the widespread adoption of online shopping picked up at the onset...
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  • Sales surge at Lowe's as the homebound take on more projects

    12 days ago - By Chron

    Lowe's sales surged in the third quarter more people took on projects at home during the epidemic.
    Shares, however, slumped before the opening bell Wednesday on an outlook that some saw as pessimistic.
    Revenue increased to $22.3 billion from $17.4 billion a year ago. That beat the $21.08 billion that analysts surveyed by Zacks Investment Research were calling for.
    Online sales soared 106%, while sales at stores open at least a year climbed 30.1%. Sales at U.S. stores open at least a year rose 30.4%.
    Lowe's earned $692 million, or 91 cents per share, for the period ended Oct. 30. That...
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  • Lowe's shares dropped after its earnings fell just short of estimates, despite massive sales growth

    12 days ago - By Business Insider

    AP Photo/LM Otero
    Lowe's reported Wednesday quarterly same-store sales growth of more than 30%.
    Sales for the third quarter were $22.3 billion, compared to $17.4 billion in the same quarter in 2019.
    Online sales doubled in the third quarter, Lowe's said.
    However, the company's earnings of $1.98 per share were one cent short of estimates from analysts, and its shares fell.
    Visit Business Insider's homepage for more stories .
    Home improvement retailer Lowe's reported Wednesday quarterly same-store sales growth of over 30%, as well as a doubling of online sales. More people have carried out...
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  • Target's earnings smashed analyst expectations. Its revenue for the quarter jumped past $22 billion, and its online sales are booming - but more customers are visiting its stores, too

    12 days ago - By Business Insider

    Joe Raedle/Getty Images
    Target's total comparable sales were up 20.7% in the third quarter, the retailer said Wednesday.
    This was led by a massive e-commerce boom, with digital comparable sales rocketing 155% year-on-year, Target said.
    More customers are buying from Target online - but more people are visiting its stores, too, and their average basket price is bigger.
    Total revenue for the quarter reached $22.6 billion, an increase of 21.3% compared with last year.
    Visit Business Insider's homepage for more stories .
    Some retail giants have boomed during the pandemic as people buy more...
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  • Walmart's Third Quarter Shines, Domestic Comps Up 6.4%, E-Sales Up 79%

    12 days ago - By Forbes

    Walmart's 3rd quarter showed top and bottom line strength. Many new initiatives. Outlook for the fourth quarter is great.
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