Retail sales exceed forecasts, highlighting steady consumer-fueled growth
CFO Dive
JANUARY 17, 2024
Robust retail sales defy predictions that trends such as declining savings and a cooling labor market will inhibit consumer spending.
This site uses cookies to improve your experience. By viewing our content, you are accepting the use of cookies. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country we will assume you are from the United States. View our privacy policy and terms of use.
CFO Dive
JANUARY 17, 2024
Robust retail sales defy predictions that trends such as declining savings and a cooling labor market will inhibit consumer spending.
Barry Ritholtz
NOVEMBER 25, 2022
It’s Black Friday and you know what that means: Lots of promotional sales and lots of holiday retail spending forecasts. As we have seen historically , holiday sales forecasts tend to be a reflection of people’s mood at the moment — not an actual measure of intended holiday spending. billion and $960.4
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Barry Ritholtz
DECEMBER 11, 2023
billion in retail inventory losses in 2021 was not “attributable to organized retail crime.” That line is just another in a long series of falsehoods put forth by the professional b *s at the National Retail Federation. This costs retailers anywhere between $15-20 billion annually in the US. No, “ nearly half ” of $94.5
CFO Dive
OCTOBER 27, 2023
Total Halloween spending is forecast to hit $12.2 billion this year, but rising wage and sugar costs are cutting into profits.
PYMNTS
JUNE 29, 2020
Retailers looking for the shape of an economic recovery have had several letters to choose from. For Berson and other economic forecasters, consumer spending and other key indicators will depend entirely on the lifespan and dynamics of the pandemic. If infections drop, retail spend has a better chance of recovering.
PYMNTS
NOVEMBER 25, 2020
Power and LMC Automotive forecasts that new vehicle retail sales for November 2020 will drop slightly from the same month the prior year, according to a Wednesday (Nov. Retail sales for new automobiles are forecast to be 1.04 The average new vehicle retail transaction price this month is forecast to be just under $38,000.
Future CFO
OCTOBER 7, 2021
Southeast Asia emerged as the fastest-growing online retail market globally, crossing US$50 billion and registering an increase of 53% in 2020, said Forrester recently when releasing a report on online retail. . Forrester forecasts that online retail’s share of total retail will double to 4% between 2019 and 2021.
PYMNTS
SEPTEMBER 18, 2020
When the pandemic first took hold of the retail industry in March and April, the phrase “it’s hard to forecast during a pandemic” was heard in most every executive interview or earnings call. Now that the holiday sales season is imminent, the operative phrase is … well … “let’s try to forecast during a pandemic.”.
CFO Share
AUGUST 5, 2021
Your strategic business forecasting must include proper considerations for section 280E – this is essential to planning cash flow and avoiding catastrophic tax bills at year-end. 201504011 , the following costs are tax deductible business expenses: For marijuana retailers: Price of marijuana purchased, less trade or other discounts.
PYMNTS
JULY 22, 2020
Goldman Sachs has predicted that online shopping will expand by 19 percent each year during the next three years to come, which marks a rise from its past forecast of 16 percent. Goldman Sachs also noted that eCommerce penetration rose to more than 40 percent in May from 16 percent of retail spending domestically in the first quarter of 2019.
CFO News
MARCH 12, 2024
India's retail inflation witnessed a marginal decline in February, settling at 5.09 Despite concerns over rising food prices, the RBI maintains its inflation forecast for FY24 at 5.4 percent annually.
PYMNTS
DECEMBER 4, 2020
Black Friday sales stretched across the entire month of November as retailers launched special deals as early as Nov. He added that the company's clients also have the ability to combine payment data with treasury tools for improved “cash flow reporting, forecasting and utilization.”.
CFO News
SEPTEMBER 24, 2023
S&P Global Ratings has maintained its growth forecast for India at 6% for the current fiscal year. S&P also revised up its retail inflation forecast to 5.5% The agency cited factors such as the slowing global economy, the risk of subnormal monsoons, and the delayed impact of rate hikes. due to higher global oil prices.
PYMNTS
SEPTEMBER 30, 2020
In today’s top retail news, Spiceology aims to shake up the D2C realm, and small and medium-sized businesses (SMBs) face decisions of how — or whether — to compete with Amazon’s October Prime Day event. 13 and 14 in this year of unpredictable and unprecedented retail happenings. Spiceology Shakes Up The D2C Status Quo. Big Lots, Inc.
PYMNTS
JANUARY 14, 2021
The San Diego-based pet care chain is pricing its 48 million shares of Class A common stock at $18 each, beating forecasts. The nationwide chain — which operates about 1,470 retail stores selling pet supplies and professional services like veterinary care — is changing its name to Petco Health and Wellness in conjunction with the listing.
PYMNTS
DECEMBER 18, 2019
Retail analysts expect this year’s Super Saturday to surpass all other days in 2019. The president at retail consultancy Customer Growth Partners, Craig Johnson, said he expects that day to see spending of around $34 billion this year. .
Future CFO
DECEMBER 11, 2023
The CFO role has been seeing shifts in the retail industry recently, as the position is seemingly no longer tied to the finance function per se, according to Ernst & Young. Acing the technology revolution One of the key takeaways from the discussion was the integral role of technology in modern retail operations.
CFO News Room
NOVEMBER 23, 2022
Retail finance chiefs are entering the busiest shopping season of the year with declining profit margins as their companies offer more discounts to compete for sales and clear out excess stock. . Among retailers in the S&P 500 that reported financial results through Nov. in the third quarter from 13.2%
CFO News Room
NOVEMBER 15, 2022
Slumping markets have investors pulling back from funding startups that make internet-connected devices for retailers, threatening to choke an innovation pipeline for emerging tools like smart shopping carts and inventory management robots. s retail insights division. from 2021 to $188.2 Kroger CIO Yael Cosset. Suvajit Basu.
PYMNTS
NOVEMBER 1, 2019
A new report by Moody’s Investors Service predicts that growth for retailers will slow due to the costs of integrating eCommerce with brick-and-mortar operations as well as increasing price wars between companies, according to a report by CNBC. The company slashed the operating profit forecast for 2019 to between 2 percent and 3 percent.
PYMNTS
JUNE 9, 2020
The latest numbers from the New York-based research group exceeds its earlier forecast of 15,000 retail closings this year. The pandemic has already pushed several large retailers to consider bankruptcy. Brooks Brothers, which calls itself the nation’s oldest retailer, and RTW Retailwinds Inc.,
PYMNTS
FEBRUARY 9, 2017
The National Retail Federation (NRF) released its 2017 Economic Forecast this week. The NRF’s chief economist, Jack Kleinhenz, said, “It is clear that online sales will continue to expand in 2017 and provide growth for the retail industry. Retailers must decide what to do with their traditional brick-and-mortar stores.
PYMNTS
DECEMBER 19, 2019
With the growth of eCommerce sales, the number of products consumers are sending back to retailers is on the rise. A study by commercial real estate services company CBRE, in conjunction with Optoro, found that shoppers are forecasted to return $41.6 billion in products purchased online this November and December.
PYMNTS
DECEMBER 4, 2020
Discount retailer Big Lots reported a third-quarter profit of $29.9 billion in revenue, surpassing Wall Street’s forecasts. The Columbus, Ohio-based chain has beat revenue forecasts three times over the last four quarters. million on $1.38 The average revenue estimate of six analysts surveyed by Zacks Investment Research was $1.38
CFO News Room
JANUARY 22, 2023
after the company cut its annual profit forecast for its fiscal year following weak holiday sales. The retailer reported that net sales for the holiday period slipped 3.5%, and that it now expects annual revenue growth at the lower end of the 5% to 7% range it previously gave. Nordstrom – Nordstrom shares fell 6.5%
PYMNTS
SEPTEMBER 29, 2020
Brick-and-mortar retailers felt the pain at exaggerated levels due to the pandemic, according to the bi-annual BDO Bankruptcy Update. Among retailers not in bankruptcy, there were 4,228 store closures, including Inditex with 1,000 closures and Starbucks with 400, the report stated.
PYMNTS
AUGUST 14, 2020
retail and food services sales for July of $536 billion, marking a rise of 1.2 The increase fell below estimates, with economists polled by Dow Jones having forecast a rise of 2.3 The increase fell below estimates, with economists polled by Dow Jones having forecast a rise of 2.3 Retail trade sales were higher by 0.8
PYMNTS
AUGUST 13, 2018
Today’s coverage includes the newest sales figures from the National Retail Federation (NRF), along with two stories about new revenue paths for Amazon. NRF Increases Sales Forecast For 2018. Retail sales are expected to rise by at least 4.5 percent over 2017, compared to the 3.8 percent to 4.4
CFO News Room
NOVEMBER 19, 2022
The apparel and footwear retailer also raised its full-year forecast and reported an unexpected rise in comparable store sales. The apparel retailer is in the midst of a turnaround effort that has involved scaling down inventories and streamlining its brand portfolio. Gap (GPS) – Gap shares rallied 5.1% Shares gained 4.4%
PYMNTS
JUNE 29, 2020
Sales of new cars are expected to be off by nearly 6 percent from a year ago, according to a joint forecast by J.D. Power’s pre-COVID-19 forecast and 11.3 This represents a significant improvement from May when retail sales were off 20 percent from the pre-virus forecast. percent decrease compared with J.D.
PYMNTS
NOVEMBER 16, 2020
Rakuten , a Japanese tech company specializing in digital eCommerce solutions for retailers, is introducing a new subsidiary to bolster physical stores. Tentatively called Rakuten DX, the new unit will launch schemes for digital transformation at retailers’ physical shops, Rakuten said in a statement on Monday (Nov.
CFO Selections
MAY 12, 2023
There is a misconception that business services companies do not need to prioritize cash flow management in the same way that retail businesses do because they do not have the same kind of inventory demands. However, cash flow planning is just as important for service providers as it is for retailers because cash is the lifeblood of both!
PYMNTS
JULY 5, 2019
The same principal holds true when it comes to forecasting cash flow. The traditional task of cash flow forecasting supplemented by machine learning and artificial intelligence, “can provide users with more accurate visibility into future cash liquidity positions and suggested actions to take based on those predictions,” she said.
PYMNTS
MARCH 10, 2020
Analysts had forecast fiscal 2020 net revenue at $1.92 Some Stitch Fix investors are afraid the Silicon Valley firm has “grown large,” and that its recent direct buy option “is a validation that ‘fixes’ are reaching a saturation point,” said BMO Retail Analyst Simeon Siegel. As of 3:55 p.m. billion to $1.93 billion to $1.84
PYMNTS
JULY 24, 2020
Britain’s stores have become the envy of the retail world. Reuters reports retail sales returned to near pre-COVID-19 lockdown levels last month when so-called non-essential stores in England reopened. In June, sales volumes increased by 14 percent from May, surpassing forecasts in a Reuters poll of economists. Sales were off 1.6
PYMNTS
NOVEMBER 17, 2020
retail sales rose 0.3 billion, missing forecasts but still up for the sixth consecutive month, according to the monthly U.S. Despite the pandemic’s negative effect on the economy, 2020 retail sales in October were 5.7 Despite the pandemic’s negative effect on the economy, 2020 retail sales in October were 5.7 percent. .
PYMNTS
MAY 15, 2020
The experts were expecting a weak retail sales report when the numbers hit the wires earlier today (May 15) – but even in an environment of diminished expectations, the number reported by the Census Bureau was a disappointment. percent economists forecasted before the release, and double the record of the 8.3 GDP, took a 16.4
PYMNTS
JUNE 17, 2020
The dramatic consumer shift to Digital 3.0 — predicted months ago by the PYMNTS COVID-19 tracker work — is accounting for almost half of the retail growth in the US. It found that eCommerce growth as of May 1 was up 68 percent, surpassing 40 percent of total retail sales. Overall Chinese retail sales of consumer goods dropped 2.8
PYMNTS
JUNE 26, 2020
Jesse Edgerton, an analyst, discovered that heightened eatery spending in a state forecast a new instances of the virus in that location three weeks subsequently, CNBC reported. Greg Abbott , the governor, said current rules for retail and restaurant capacity could stay, but no further actions would occur so long as cases were on the rise.
PYMNTS
JANUARY 11, 2021
retail rents falling in many locales by percentages even greater than those seen in or after the 2007-08 Great Recession. These decreases are historic,” the Real Estate Board of New York wrote in a new report showing that average Manhattan retail asking rents fell in all of the island’s 17 retail corridors during autumn.
PYMNTS
MAY 21, 2020
As eCommerce revenue has risen, so has the need for consumers to return their purchases, sometimes surprising retailers that might not have seen the order scale they’ve seen for April and May. The first was from retail clients. Sharma and his team put a lot of effort behind retail advocacy. The issue at hand is returns.
Future CFO
JANUARY 4, 2023
Digital native retail businesses are expected to see resounding success in the coming few years, but their existing strategies might need a tweak soon as traditional retailers are catching up, said Bain & Company recently. Digital native retail businesses are retailers which initially operated exclusively online, Bain defined.
CFO News Room
NOVEMBER 17, 2022
The retailer also raised its guidance for full-year per-share earnings. It also raised its earnings forecast for the year but left its revenue guidance unchanged. . BJ’s Wholesale – Shares dropped 6% despite the company reporting beats on the top and bottom lines and raising its full-year forecast for per-share earnings.
PYMNTS
OCTOBER 30, 2019
internet retailers including Walmart and Amazon. Cyber Monday sales are forecasted to be up 19 percent over last year, reaching $9.4 Total retail spending online and offline is expected to increase by 4 percent. . The shorter shopping cycle means that retailers will likely start sales earlier than ever before.
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content