Amazon's holiday hiring, Costco's platinum bars, and Nike's struggles: Retail news roundup
Costco shoppers have already demonstrated their love for the retailer’s gold bars and silver coins, and now the company is adding a third precious metal. Nike is setting off alarms after it postpones its investors day and withdraws its full-year guidance. And Amazon plans to hire 250,000 seasonal employees to manage the busy holiday season.
Those stories and more appear in this week’s retail news roundup.
Costco fans already love their gold and silver bars. Now here comes another precious metal
Costco Wholesale (COST) is getting further into the precious metals business. While gold bars and silver coins have previously been top of mind for shoppers, the retailer is now adding a third precious metal: platinum. This comes as the company also lowers grocery prices and raises its membership fee.
Nike stock is in a ‘no man’s land,’ analyst says
As Nike (NKE) gears up for a pivotal leadership transition, the iconic brand faces a challenging road ahead.
The company has postponed its investor day and withdrawn its full-year guidance, leading analysts at Jefferies (JEF) to advise caution. The firm predicts that Nike’s shares are in “no man’s land” and will remain “range bound” as the company charts its next steps. Incoming CEO Elliott Hill will take the reins on Oct. 14, raising the question of whether Nike finally be able to “Just Do It.”
What retailers are saying about the big U.S. port strike
In light of the recent port strike, retail giants say they’ve been addressing potential disruptions to their supply chains as the holiday season approaches.
Amazon is hiring a quarter-million workers this holiday season
Amazon (AMZN) said Thursday that it plans to hire 250,000 seasonal workers as it prepares to tackle a busy holiday shopping season.
Bananas, shrimp, wine, and more: 10 staples that will be affected by the big U.S. port strike
Shoppers may soon find it more challenging to locate common items such as bananas, salmon, and wine now that a massive U.S. port strike has started. The strike involves thousands of dockworkers advocating for better pay and working conditions.
Costco’s CEO on how the big U.S. port strike could impact holiday shopping
In light of the recent port strike, Costco (COST) Wholesale Corp. said it’s been addressing potential disruptions to its supply chain, particularly for nonfood imports as the holiday season approaches.
Walmart, Target, Home Depot and more: The top 10 U.S. importers as a port strike takes hold
Big box retailers like Walmart (WMT), Target (TGT), and Home Depot (HD) play a major role in U.S. imports.
The most common U.S. export is an empty container
In the complex world of U.S. trade, one startling statistic stands out: the most common “export” from the U.S. overseas is an empty container.
Walmart is challenging Amazon by going digital
Walmart (WMT) is successfully evolving its business model to better integrate online and in-store shopping, positioning itself to take on e-commerce giant Amazon (AMZN), in a move that could put it on the path towards even greater growth, financial firm Baird said in a research note.
Nike stock tumbles as investors worry about a turnaround: ‘A comeback at this scale takes time’
Nike (NKE) shares dropped 8% during early trading hours on Wednesday after the company withdrew its full-year guidance and postponed its investor day. The moves created uncertainty among investors on the company’s turnaround efforts under incoming CEO Elliott Hill, who takes over on October 14.
Nike pushes back its investor day — and the stock dips on sluggish earnings
Nike (NKE) is striving to “Just Do It,” but its latest quarterly earnings suggest it may be too soon to determine success. Now, the company has postponed its investor day, which was set for November.
Halloween creep is haunting Christmas as it becomes retail’s new rising star
As Halloween decorations creep onto store shelves earlier each year, America’s spookiest holiday is casting an ever-longer shadow over the retail landscape. With projected spending of $11.6 billion in 2024, Halloween is inching closer to Christmas-level importance for retailers and consumers alike.
Costco says its been lowering prices despite increasing membership fees
As grocery prices continue to climb, Costco (COST) Wholesale said it’s been offering some relief to customers by keeping prices low for many staples. This comes in the wake of a membership fee increase, which the company said it had delayed for two years.