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News Breaks
March 22, 2013
10:58 EDTDG, FDO, WMTFamily Dollar falls after analysts express opposite views
Two research firms expressed different opinions on Family Dollar (FDO) in notes to investors earlier today. Deutsche Bank upgraded the stock to Buy from Hold, while Citigroup downgraded the shares to Neutral from Buy. Fears about future declines in the discount retailer's margins have probably peaked, according to Deutsche Bank analyst Paul Trussell. The company's selling, general and administrative expenses disappointed investors in the first quarter of the company's fiscal year, but investors are now well aware of the headwinds that caused the situation and the problems should ease going forward, Trussell believes. Meanwhile, fears about a price war among dollar store companies is overdone, and Family Dollar is taking market share from Wal-Mart (WMT), according Deutsche's analyst, who added that Family Dollar has begun to benefit from tax refunds. Trussell expects the company's same-store sales to rise 4.3% in the second half of the year and he set a $71 price target on the shares. Conversely, Citigroup analyst Deborah Weinswig expects Family Dollar to have more difficulty beating analysts' earnings expectations going forward. The retailer's margins are likely to be hurt by stronger sales of less profitable items, according to the Citi analyst. Moreover, Family Dollar's "single store format" is hurting the company's ability to compete against Dollar General (DG), which has two expanded store formats, Weinswig wrote. She trimmed her price target on Family Dollar to $65 from $69. In mid-morning trading, Family Dollar fell 95c, or 1.5%, to $60.80.
News For FDO;DG;WMT From The Last 14 Days
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October 9, 2015
11:08 EDTWMTWal-Mart U.S. appoints Steve Bratspies to Chief Merchandising Officer
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09:21 EDTWMTWal-Mart CFO Charles Holley to retire, Brett Biggs to take place
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05:40 EDTWMTChina Resources unit to sell Wal-Mart store stakes for $525M, Reuters reports
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October 7, 2015
06:42 EDTWMTWal-Mart price target lowered to $70 from $76 at Deutsche Bank
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October 6, 2015
11:51 EDTWMTWal-Mart, Visa in talks to end $5B processing fees suit, Bloomberg says
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October 2, 2015
11:32 EDTWMTAnalyst sees Amazon becoming #2 player in $425B consumables market
Amazon (AMZN) will advance to the number two position in the $425B U.S. consumables market, excluding food and beverages, by 2018, research firm Cowen predicted in a note to investors today. WHAT'S NEW: Amazon's "multi platform approach around Prime" is enabling it to gain share in the U.S. market for goods including personal care, household, pet and baby products, Cowen analyst John Blackledge stated. Specifically, the e-commerce giant is effectively using its Amazon Prime, Amazon Prime Now, Amazon Pantry and Amazon Fresh offerings to sell consumables and it has significantly increased the number of fulfillment centers it operates, lowering its delivery times, according to Blackledge. The company's delivery times are now "well ahead of (the) competition," the analyst reported. The e-commerce giant's strategy in the consumables market appears to be working, as Cowen's proprietary data indicates that the company is gaining share in the category, Blackledge wrote. Additionally, Amazon is beginning to attract more customers from Wal-Mart (WMT) and Target (TGT), he believes. PRICE ACTION: In late morning trading, Amazon slipped 0.4% to $518.70.
10:15 EDTWMTWal-mart to cut 450 jobs at Atlanta headquarters, Reuters reports
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08:21 EDTWMTAmazon to be number two player in U.S. consumables by 2018, says Cowen
John Blackledge and the research team at Cowen project that (AMZN) will grow to be the number two player in the $425B market for U.S. consumables - which they define as personal care, household, pet and baby products - by 2018. The firm expects Amazon to use its multi-platform approach, centered around Prime, to help the e-commerce giant gain share in consumables at the expense of Wal-Mart (WMT), Target (TGT), Walgreens (WBA) and CVS Health (CVS). Cowen has Outperform ratings on Amazon and Target and a Market Perform rating on shares of Wal-Mart.
06:51 EDTWMTWal-Mart Chile eyes shopping center chain sale, Reuters says
Wal-Mart Chile is eyeing a sale of its chain of shopping centers in an effort to focus on its larger supermarket operations in Chile, Reuters reports. The plan would involve the sale of 10 "Espacio Urbano" centers throughout the country, totaling roughly 250,000 square meets, the report says. Reference Link
October 1, 2015
10:37 EDTWMTBofA/Merrill's Top 10 US Ideas for Q4 2015
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08:10 EDTWMTAmerican Express cards now accepted at Sam's Club
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06:16 EDTWMTWal-Mart to lay off hundreds of employees at Arkansas headquarters, Reuters says
Wal-Mart plans to cut hundreds of jobs at its headquarters in Arkansas in an effort to pare costs, Reuters reports, citing people familiar with the matter. Fewer than 500 employees are expected to have their employment terminated and an announcement could come as early as Friday, the report says. Reference Link
September 29, 2015
07:11 EDTWMTWal-Mart expands pick-up service to new markets, Fortune says
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September 28, 2015
06:42 EDTWMTPerfume makers look to Wal-Mart, Target, WSJ reports
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