Ranking the Best Companies for Career Growth (Costco #9 / Target #11 / Lowe's #14) at WSJ. "Costco, long regarded as a top employer, stands out from its retail peers with high marks for pay and culture, two metrics that often cluster together...Home Depot scores in the highest group for parity, hiring and promotion, and better than most on retention." WSJ subs.   Kroger Q3 total sales excluding fuel decreased 0.5% Press release   More US retailers adopt 'keep it' returns policies to shelter profits in holiday surge at Reuters. "This year, 59% retailers offer so-called "returnless" or "keep [...]

  US Cyber Monday sales hit record $12.4 billion on big discounts at Reuters. "Online consumer spending jumped 9.6% on Monday from the $11.3 billion seen last year, outstripping Adobe's initial expectations for a 6.1% rise to $12 billion...A record $940 million worth of purchases were made through BNPL (Buy Now, Pay Later) on Cyber Monday, surging 42.5% from last year and trouncing Adobe's earlier estimate for an 18.8% jump." Read more   Amazon touts ‘record-breaking’ sales in kickoff to holiday shopping season at CNBC. "The company said the period from Nov. 17 to Cyber Monday marked its “biggest ever” [...]

  Lowe's Q3 comp sales decreased 7.4% "Updates full year 2023 outlook - Comparable sales expected to be down approximately -5% as compared to prior year (previously down -2% to -4%)." Press release   ...Lowe’s cuts sales outlook as homeowners take on fewer projects at CNBC. "CEO Marvin Ellison said Lowe’s felt a “greater-than-expected pullback” by customers on discretionary projects and big-ticket purchases. Yet he said its sales to home professionals, which are accounting for a growing share of its revenue, rose in the quarter. Those pros drive about 25% of its business...will next focus on “offering value and convenience this [...]

  Walmart Q3 U.S. comp sales up 4.9% Press release   ...Walmart's caution on consumer spending ahead of holidays sends shares lower at Reuters. "Walmart's CFO John David Rainey told Reuters the company saw shoppers slow down purchases in the second-half of October, and then pick up spending in the early part of November, on items including apparel and home goods, that have been out of favor for most of the year." Read more   Bath & Body Works trims sales forecast as demand slows into holiday season at Reuters. "The retailer expects its 2023 net sales to fall by [...]

  Home Depot Q3 U.S. comp sales decreased 3.5% Press release   ...Home Depot earnings beat, but retailer offers a tepid outlook as sales slide at CNBC. "The retailer indicated caution about the coming months, as it narrowed its full-year outlook. It said it now anticipates sales will fall by 3% to 4% from the prior year, compared with a previous expectation of a 2% to 5% decline...In an interview with CNBC, Chief Financial Officer Richard McPhail said the company’s results and forecast reflect that the year “is a period of moderation in home improvement.” Read more   US consumer [...]

  Canadian Tire laying off 3% of corporate staff at CBC "...cites 'softening consumer demand' for decision to scale back...Canadian Tire comparable store sales fell by 0.6 per cent. SportChek sales were down by 7.4 per cent. Sales at Mark's eked out an increase of 0.2 per cent." Read more   Amazon to Expand Grocery Delivery, Resume Supermarket Openings at Bloomberg. "(Claire Peters) said the company plans to resume opening new Fresh stores in 2024, after a pause of more than a year. Amazon also has redesigned five locations, including three in the Los Angeles area that wrapped up renovations recently. “We [...]

  Walmart and Peacock team up on AI-powered shoppable ads at Yahoo. "NBCUniversal said it is working with Walmart to let viewers watching Bravo’s Below Deck Mediterranean buy items from the show during commercial breaks using their remote control. Shoppable episodes of Below Deck Mediterranean will appear November 7, December 5 and December 12." Read more | Press release   The new Bed Bath & Beyond’s CEO is out, days after activist firm called for his ouster at CNBC. "In the letter, JAT said Marcus Lemonis, the Camping World CEO and TV personality who starred in CNBC’s “The Profit,” should take [...]

  Target CEO says shoppers are pulling back, even on groceries at CNBC. "In an interview with CNBC’s Becky Quick that aired Thursday morning, he emphasized that the retailer has posted seven consecutive quarters of declining sales of discretionary items, such as apparel and toys, in terms of both dollars and units. “But even in food and beverage categories, over the last few quarters, the units, the number of items they’re buying, has been declining,” he said in the interview." Read more/6:59 video   ...Cornell’s full interview with CNBC will air later Thursday as part of CNBC Evolve   Lawmakers say [...]