November 30, 2024
Prices Stabilize in Key Markets
US data on income and spending confirms that the US consumer has money and is prepared to spend it, according to UBS. The bank believes that inflation was more driven by supply problems than demand (the position held by the US Fed).
In key markets, including Spain, Germany, the UK and the US, inflation is hovering around 2% (November data).
“This is what price stability generally looks like,” said UBS.
FINANCE
Burlington Stores (USA) reported Q3 total sales rose 10.5% to $2,530.7 million. EBITDA increased 30.3% to $228.8 million. Same-store sales rose 1%.
Abercrombie & Fitch (USA) reported Q3 net sales rose 14% to $1.2 billion. Operating income rose 30% to $179 million. Same-store sales increased 16%.
Nordstrom (USA) reported Q3 net sales rose 4.6% to $3.46 billion. Net income fell 31% to $46 million. Top performing categories were women’s apparel and active with double-digit growth.
Urban Outfitters (USA) reported Q3 revenue rose 6.3% to a record $1.36 billion. Net income rose 24% to $102.9 million. Same-store sales rose 5.8% at Anthropologie and 5.3% at Free People, but decreased 8.9% at Urban Outfitters.
Dick’s Sporting Goods (USA) reported Q3 revenue rose 0.5% to $3.06 billion. Net income rose 13% to $228 million. Same-stores sales rose 4.2% from a year ago. Dick’s inventory level increased 13% from 2023.
Guess? (USA) reported Q3 revenue rose 13% to $739 million. Operating profit decreased 22.8% to $42.3 million. Sales increased in all regions with Europe up 7%, Americas +12% and Asia +2%.
Kohl’s (USA) reported Q3 net revenue fell 9% to $3.51 billion. Net income fell 63% to $22 million, while operating profit was down 38%.
What C-Suite Execs are Saying
Senior execs share their thoughts on Franchising & Licensing. On the Return to Offices. Being Consumer Centric. The Impact of Lower Prices. The Value of Paying Higher Wages. About Brand Management. Read more
RETAIL
TikTok (China) expects its highest Christmas sales this year as its once-struggling livestream shopping feature takes off in the UK.
Burlington Stores (USA) said it expects to open 100 net new stores next year, and could open at least 500 net new stores by the end of 2028
PODCAST
A big part of winning at retail is understanding what motivates consumers to buy.
It’s a topic that has gotten increasingly complex now that retail spans so many different channels.
One man has made it his life’s work to go deep and get inside the mind of the consumer.
In this podcast Paco Underhill, founder and former CEO of Envirosell, a behavioural research and consulting firm, shares his take on changes in consumers’ fashion choices.
You’ll Learn
MARKETS
The Italian economy is facing a soft patch, per ING Bank. Consumers are growing more worried about current and future economic developments, with increasing concerns about future unemployment. Retail confidence has improved, and might suggest that, for the time being, consumers are prioritising non-durable goods.
UK consumers and businesses are more downbeat about the state of the economy after Labour’s tax-raising budget triggered concerns about hiring and rising costs, per The Times.
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