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This basket consists of brick and mortar who have lost considerable market share to online competition.
Walmart is increasing its majority-stake in Flipkart by leading a new $1.2 billion financing round in the Indian e-commerce giant. The fresh equity round led by Walmart, which acquired majority stake in Flipkart for $16 billion two years ago, values Flipkart at $24.9 billion post-money, the two companies said. The American retail group said the fresh capital would help Flipkart, which was valued at $20.8 billion two years ago, further grow its e-commerce marketplace in India as the world's second largest internet market begins to recover from Covid-19 crisis.
PVH Corp said on Tuesday it would cut 450 jobs in North America and shutter 162 retail stores of its business that houses brands such as Van Heusen and IZOD, as the coronavirus crisis wreaks havoc on the apparel industry. The Tommy Hilfiger and Calvin Klein owner said the layoffs, affecting 12% of its office workforce, would impact three brands and save about $80 million annually. "The COVID-19 crisis is dramatically reshaping the retail landscape in ways that we believe will be long-term in nature and far-reaching in terms of consumer purchasing behavior," President Stefan Larsson said.
Walmart (WMT) closed the most recent trading day at $132.01, moving +1.92% from the previous trading session.
Walmart (NYSE: WMT) stock is getting a lift in Tuesday-afternoon trading, up more than 1% (the Dow Jones Industrial Average as a whole is up less than 1%) on news that the retail giant is expanding its influence in India. Two years ago, Walmart bought its way into the Indian e-commerce market with a $16 billion purchase of a 77% stake in local company Flipkart, India's No. 1 e-commerce company, ahead of No. 2 Amazon.com (NASDAQ: AMZN). Walmart and other, unnamed investors are investing a further $1.2 billion in Flipkart.
JPMorgan reported better-than-expected results, and an analyst sees big gains for Walmart as it takes on Amazon Prime.
Players are focusing on superior product strategy to resonate well with customers, advancing omni-channel capabilities and ramping up delivery services or curbside pickup.
Office Depot today announced a $1.5 million donation to Feeding America® in support of its COVID-19 Response Fund.
Flipkart will raise $1.2 billion in funding led by majority owner Walmart Inc <WMT.N>, the Indian e-commerce firm said on Tuesday, as it looks to compete better with Amazon.com Inc <AMZN.O> in a coronavirus-hit market. The investment, also funded by other existing shareholders, values Flipkart at $24.9 billion, and comes two years after U.S. retail giant Walmart paid $16 billion for a more than 70% stake in Flipkart. Ambani's Reliance Industries Ltd <RELI.NS> has received billions of dollars in recent weeks from major global firms for its digital arm, which is expected to roll out an online service for Indian grocers and small businesses.
President Donald Trump's handling of the coronavirus outbreak early this year was "an incredible gift" for investors because it kept markets stable long enough for some to protect their portfolios, Axon Capital co-founder Dinakar Singh told investors this month. Trump has justified his public assurances that the virus will quickly go away by arguing he needs to be "a cheerleader" for the United States to avoid creating "havoc and shock." "We simply never believed 'what happens in China stays in China,'" Singh wrote in a letter to investors last week that was seen by Reuters.
Macy’s, Inc. (NYSE: M) ("Macy’s") announced today that its wholly-owned subsidiary, Macy’s Retail Holdings, LLC ("MRH"), has received the requisite number of consents to adopt certain proposed amendments with respect to the Old Notes (as defined below) and is extending the early tender date (the "Early Tender Date") for its previously announced offers to eligible holders to exchange (each, an "Exchange Offer" and, collectively, the "Exchange Offers") (i) new 6.65% Senior Secured Debentures due 2024 ("New 2024 Notes") to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 6.65% Senior Debentures due 2024 issued by MRH ("Old 2024 Notes"), (ii) new 6.7% Senior Secured Debentures due 2028 ("New 2028 Notes") to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 6.7% Senior Debentures due 2028 issued by MRH ("Old 2028 Notes"), (iii) new 8.75% Senior Secured Debentures due 2029 ("New 2029 Notes") to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 8.75% Senior Debentures due 2029 issued by MRH ("Old 2029 Notes"), (iv) new 7.875% Senior Secured Debentures due 2030 ("New 2030 Notes") to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 7.875% Senior Debentures due 2030 issued by MRH ("Old 2030 Notes"), (v) new 6.9% Senior Secured Debentures due 2032 ("New 2032 Notes") to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 6.9% Senior Debentures due 2032 issued by MRH ("Old 2032 Notes"), and (vi) new 6.7% Senior Secured Debentures due 2034 ("New 2034 Notes" and, together with the New 2024 Notes, New 2028 Notes, New 2029 Notes, New 2030 Notes and New 2032 Notes, the "New Notes" and each series, a "series of New Notes") to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 6.7% Senior Debentures due 2034 issued by MRH ("Old 2034 Notes" and, together with the Old 2024 Notes, Old 2028 Notes, Old 2029 Notes, Old 2030 Notes and Old 2032 Notes, the "Old Notes" and each series, a "series of Old Notes").
With Walmart+ on the horizon, Walmart Inc (NYSE: WMT) stock faces a shifting narrative as the retailer becomes a potential Amazon Prime competitor.Morgan Stanley's Simeon Gutman named 10 reasons why Walmart+ could shift the stock's narrative: 1. After continued speculation about a possible Walmart membership program, the stock finished up 7% on July 7 and up 10% for that week. The analyst focused on the timing and the perceived value of Walmart+ over the second quarter. 2. The stock is shifting due to a changing environment as a result of COVID-19, tech stocks garnering widespread interest from investors, the retail investor effect and the potential Walmart+ subscription model, which Gutman said yields a higher multiple. 3. The analyst said there is room for a "a second subscription model in retail." Due to Walmart's assets, size and scale, he said Walmart seems to be the logical second winner. 4. With the launch of "Delivery Unlimited" in June 2019, Walmart already has a successful platform that it can use to transition into Walmart+. 5. The "pay and forget" aspect of the Walmart + subscription model will increase the likelihood of Walmart adding and retaining members. 6. "A subscription model could change the conversation for WMT, allowing it to invest more freely into the business and earning a higher multiple by doing so," the analyst said. 7. Walmart has omni-channel assets in place, which increases its chances of success with a subscription model. Walmart's main channel is grocery, but Gutman said "healthcare/pharmacy capabilities could be a game changer." 8. Gutman doesn't expect the EPS algorithm to worsen, because Walmart has demonstrated an ability to balance its investments with growth using cost productivity. 9. Walmart's valuation will be driven by faster growth and returns, Gutman said, adding that the retailer's U.S. digital growth has averaged nearly 40% in recent years. 10. Finally, Gutman insulates the bear case given the economic backdrop and puts the $180 bull case in play "based on an expanding multiple driven by higher [e-commerce] penetration."Gutman maintained an Overweight rating on Walmart with a $140 price target.Photo credit: Mike Mozart, via Wikimedia CommonsLatest Ratings for WMT DateFirmActionFromTo Jun 2020GuggenheimMaintainsBuy Jun 2020UBSUpgradesNeutralBuy May 2020Morgan StanleyMaintainsOverweight View More Analyst Ratings for WMT View the Latest Analyst Ratings See more from Benzinga * Positive Restaurant Trends Faltering As Q3 Starts, Morgan Stanley Says * Morgan Stanley Says Buy Repare Therapeutics, Sees Nearly 60% Upside(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The coronavirus outbreak has quickly sent a number of companies announcing dividend suspensions and cuts. Here are 24 big names that have already reduced or stopped their payouts.
Walmart stock got a boost after it announced a subscription service that could rival Amazon Prime. The move could help it grab market share in the grocery business, Oppenheimer says.
News of Walmart+ pushed the stock just below a new 52-week high. Shares are likely poised to advance even more should the federal government announce a second Covid-19 stimulus package.
Flipkart will raise $1.2 billion in funding led by majority owner Walmart Inc, the Indian e-commerce firm said on Tuesday, as it looks to compete better with Amazon.com Inc in a coronavirus-hit market. The investment, also funded by other existing shareholders, values Flipkart at $24.9 billion, and comes two years after U.S. retail giant Walmart paid $16 billion for a more than 70% stake in Flipkart. Ambani's Reliance Industries Ltd has received billions of dollars in recent weeks from major global firms for its digital arm, which is expected to roll out an online service for Indian grocers and small businesses.
As concerns continue over a growing surge of Covid-19 cases, and states tighten lockdown orders, one analyst wrote Monday that Roku is in a strong position to benefit.
Walmart is leading a $1.2bn funding round into its Indian ecommerce service Flipkart as it faces challenges from the coronavirus pandemic and the entrance of rival platform JioMart. Flipkart said the funding would be used to “support continued development of its ecommerce marketplace as India emerges from the Covid-19 crisis”. Walmart bought almost 80 per cent of Flipkart for $16bn in 2018, pitting itself against US retail giant Amazon in one of the world’s most promising growth markets for online shopping.
As Facebook continues to face pressure as the ad boycott continues, investors are unsure how the boycott will impact earnings. The Final Round panel breaks down the details.
Despite pressure from rival retailers, Target remains a leader in its group. Here is what fundamental and technical analysis shows about buying Target stock now.
These 91 Dividend Aristocrats, from the U.S., Canada and Europe, are among the world's top dividend stocks for payout longevity and safety.
Morgan Stanley Equity Analyst Simeon Gutman joins Yahoo Finance’s Zack Guzman to discuss why he thinks Walmart is a ‘sleeping giant to watch' in the health care sector.