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The Latest Breaking News from Neil Saunders

The King Of Retail Has Fallen: Amazon Overtakes Walmart In Revenue For The First Time

Fueled by e-commerce growth and its cloud business, Amazon has surpassed Walmart in quarterly revenue for the first time, marking a major shift in retail.

International Business Times UK

Amazon just dethroned Walmart in quarterly revenue for the first time ever with a bombshell $187.8 billion in sales

Walmart held the top spot in quarterly sales for more than a decade.

Fortune

Costco Rejects Anti-DEI Trend, Votes to Keep Diversity Policies in Place: 'An Enterprise Rooted in Respect and Inclusion'

Costco's shareholders overwhelmingly voted against a proposal that would scale back the company's diversity, equity and inclusion efforts.

Latin Times

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Costco defends its diversity policies as other US companies scale theirs back

Costco is pushing back on a shareholder proposal that urges the wholesale club operator to conduct an evaluation of any business risks posed by its diversity, equity and inclusion practices

The Independent UK

SEC says former Express CEO secretly took advantage of $1 million in company perks, including a private jet, as the company was sliding into bankruptcy

Former chief executive Tim Baxter left the retailer in September 2023, seven months before Express filed for Chapter 11 bankruptcy.

Fortune

US Consumers To Bargain Hunt In Annual 'Black Friday' Spree

US shoppers are coming out in force this holiday season, but the festiveness is being tempered by inflationary pressures that have abated but not completely faded.

International Business Times

Here's what comes next for Tapestry and Capri after the death of their major fashion merger

Now Michael Kors' owner Capri has to figure out how to survive without the Tapestry deal.

Fortune

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Wall Street makes wagers on the likely winners and losers in a second Trump term

Wall Street is already making big bets on what take two for a White House led by Donald Trump will mean for the economy and markets

The Independent UK

America's Biggest Retailers Will Face 'Massive Upheaval' In Wake of Trump Tariffs, Former Target Exec Warns

Action on tariffs, taxes, immigration and regulations could have huge effects on Walmart, Costco and Target

International Business Times

Nike Earnings Drop, Says Turnaround Will Take Time

Nike reported a drop in profits Tuesday on sagging revenues as the sports giant cautioned that a turnaround from a rocky period would take time under a new CEO. The athletics company's financials showed lower sales in every operating region, as its CFO pointed to lackluster store traffic in China…

International Business Times

It’s hotter than ever but people don’t want ice cream, leaving sweets purveyors struggling

"There's a sweet spot for temperature,” one CEO said—and extreme heat has blown right through it.

Fortune

The Mars-Kellanova merger bolsters them against 2 big threats—inflation and Ozempic

“Snacking is very driven by impulse. It's very driven traditionally, by indulgence,” one analyst said.

Fortune

Colin Huang, Temu owner’s billionaire founder, becomes China’s richest person

After several moderately successful ventures in gaming and e-commerce, Colin Huang got sick and retired. At one point, the young entrepreneur stayed home for a year thinking about his next move.

The Times of India

Drugstores tinker with new looks as their usual way of doing business faces challenges

America’s drugstores are testing smaller locations and more ways to offer care as more store closings loom

The Independent UK

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The Independent UK

Etsy plans to test its first-ever loyalty program as it aims to boost sales

Etsy says it will begin testing its first-ever loyalty program in September

The Independent UK

Walmart retools its young adult clothing line in pursuit of fashion credibility

Walmart has spent three years overhauling its mix of adult apparel to make it stylish as well as sensible for middle America

The Independent UK

Parent company of Saks Fifth Avenue to buy rival Neiman Marcus for $2.65 billion,

The parent company of Saks Fifth Avenue has signed a deal to buy upscale rival Neiman Marcus Group, which owns Neiman Marcus and Bergdorf Goodman stores, for $2.65 billion, with online behemoth Amazon holding a minority stake

International Business Times

Nike Shares Tumble On Tepid Outlook As CEO Eyes Olympics Marketing Win

Nike reported higher profits due to cost-cutting efforts Thursday, but shares fell sharply on the company's tepid outlook despite a hoped-for boost from the upcoming Olympic Games.

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The Independent UK

Amazon joins exclusive club, crossing $2 trillion in stock market value for the first time

Amazon has joined the exclusive $2 trillion club after Wall Street investors pushed the value of the e-commerce giant’s stock past that threshold

Fortune

Abercrombie’s blowout comeback isn’t just a harbinger for an early aughts craze—it's leading the renaissance for iconic mall-based brands

The retailer once known for toned models and low-rise jeans just notched $1 billion in sales—its best first quarter in the history of the company.

The Independent UK

Major retailers are offering summer deals to entice inflation-weary shoppers

Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather

International Business Times

Walmart Profits Rise On Strong Sales From Wealthier Shoppers

Walmart reported higher profits Thursday behind solid gains at US stores as the retail giant pointed to increased purchases by wealthier shoppers and improving e-commerce sales.

International Business Times

Amazon Triples Quarterly Profit As Cloud Surges

E-commerce titan Amazon on Tuesday said profit in the first three months of 2024 tripled as its cloud, ads, and retail businesses thrived.

International Business Times

Swan Song For General Electric As It Completes Demerger

The US conglomerate General Electric, co-founded more than 130 years ago by Thomas Edison, is opening a new chapter in its history on Tuesday: its break-up into three independent entities which will then concentrate on their disparate core businesses.

Salon

How dollar stores link to food deserts

“Dollar stores are now the fastest-growing food retailers in the contiguous United States"

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