Home Depot Q3 comp sales up 24.1% (!) / US comp +24.6% Press release

 

…Home Depot is building a banner year, 3Q numbers stun at AP. “Revenue totaled $33.54 billion for the three months ended Nov. 1, topping the $31.83 billion that analysts polled by FactSet predicted…making temporary financial support programs for its frontline, hourly employees, such as a weekly bonus program, permanent. The value of that program is being put at about $1 billion on an annualized basis.” Read more

 

Walmart Q3 comp sales up 6.4% / Sam’s Club comp +11.1% / Walmart Int’l net sales +1.3%  Press release

 

…Walmart beats same-store sales estimates on buoyant online demand at Reuters. “…79% surge in its online business powered overall rises in spending on electronics, apparel and groceries. Analysts had estimated (a comp) increase of 4.16%…Total revenue rose 5.2% to $134.71 billion, beating estimates of $132.23 billion.” Read more

 

Amazon opens online pharmacy at Fox Business. “Amazon said it will offer commonly prescribed medications starting Tuesday, including creams, pills, as well as medications that need to stay cold, like insulin. Shoppers have to set up a profile on Amazon’s website and have doctors send prescriptions to the Seattle-based e-commerce giant.” Read more | Press release

 

U.S. retail sales miss expectations in October at Reuters. “Retail sales rose 0.3% last month, the Commerce Department said on Tuesday. Data for September was revised down to show sales surging 1.6% instead of shooting up 1.9% as previously reported. Economists polled by Reuters had forecast retail sales would gain 0.5% in October.” Read more

 

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Costco declares a special cash dividend on Costco common stock of $10 per share Read more

 

CVS becomes first national retailer to offer support for PayPal and Venmo QR codes at checkout at TechCrunch. “The entire transaction can be touch-free, as it involves QR code scanning as opposed to using a card that has to be swiped or inserted into a terminal or numbers punched into a keypad.” Read more

 

Kohl’s Q3 comp sales down 13.3% Press release

 

…Kohl’s sales fall 13% as shoppers shift spending away from apparel at CNBC. “Analysts, on average, were calling for (a comp decline of) 11.39%…But the company said it did report positive sales growth in three categories — athleisure, lounge and sleepwear — which it has been investing in heavily.” Read more

 

…‘We were making it up as we went.’ Kohl’s CEO on weathering the COVID storm at Fortune. “Everything was set for Kohl’s investor day on March 16 in New York…But on the evening of March 12, with the pandemic gaining a foothold in the U.S. and Kohl’s customers starting to sequester at home, Gass canceled the event entirely. “What we’re going to tell investors when we didn’t even know what the world was going to look like?” 29:51 podcast

 

Target CEO among business chiefs meeting with Biden-Harris at CNBC. Read more

 

Amazon Named “Low Price Leader” in New Study “Amazon proved to be the lowest priced option in all categories, with the largest potential customer savings, on average, in Home Furniture (35% more affordable than other options in the category), Vitamins and Supplements (34%), Health and Personal Care (26%) and Beauty (22%).” Press release | Study

 

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