retail
MercadoLibre (NASDAQ: MELI) stock price has underperformed the market this year. It has risen by just 3.4% this year, lagging behind other companies like Amazon, Jumia, and eBay. Also, the stock has trailed top benchmark indices like the S&P 500 and Nasdaq 100 indices. Strong growth and market shareMercadoLibre has become one of the biggest e-commerce companies in the world with a market cap of over $28 billion. It has a commanding market share in the Latin American region. Over the years, it has grown its revenues fromover $7.4 billion in 2019 to over $10.1 billion in 2023. The company’s annu...
Invezz
Lululemon (NASDAQ: LULU) stock price is falling apart, as a company that was once red-hot in Wall Street comes back to earth. It has tumbled to a low of $260, its lowest level since May 2022 and 50% below its highest point this year. No longer a growth engineLululemon Athletica is a leading Canadian company that has revolutionised the athleisure industry which was worth over $353 billion in 2023. It still maintains a commanding market share in the industry. Lululemon has had a spectacular growth over the years, helped by its retail and online platforms. Its annual revenue has soared from over ...
Invezz
Allentown (United States) (AFP) - The giant steelworks that greets visitors to Allentown, Pennsylvania once symbolized the city's success as an industrial hub. Today, its middle-class residents struggle to overcome the long-term impacts of post-pandemic inflation. Purchasing power is one of the main themes of the US presidential election, and a thorn in the side of Democrats -- especially in this Rust Belt battleground state, which could be one of a handful to decide who wins the White House in November. "Inflation has come down tremendously," said Bill Leiner, a 70-year-old nurse and voluntee...
AFP
Chipotle Mexican Grill (NYSE: CMG) delivered a solid performance in its second-quarter earnings report, showcasing a strong revenue increase and impressive customer engagement despite ongoing inflationary pressures. The company reported quarterly revenue of $3 billion and earnings per share (EPS) of $0.33. These results reflect an 18% rise in revenue and a 32% increase in EPS compared to the same period last year. Chicken al pastor proves popular among dinersThe quarter was bolstered by the popularity of the limited-time chicken al pastor, which resonated well with diners. This, combined with ...
Invezz
Burberry (LON: BRBY) share price has imploded and the situation keeps getting worse by the day as concerns about its future remain. The stock has plummeted to 700p, its lowest level since 2010. Most notably, it has crashed in the past 12 consecutive months, breaking a personal record and falling by over 71% from its all-time high. Luxury spending fallsLuxury goods companies are facing a major meltdown as spending, especially in Asia, continues falling. On Wednesday, Kering, the parent company of Gucci, warned that the outlook was not improving. Gucci sales crashed by over 20% as demand in Chin...
Invezz
With Taylor Swift's friendship bracelets becoming popular at the onset of her "The Eras Tour," luxury brands are quick to jump on the accessory's rising popularity by making their own luxury versions. Fashion powerhouses like Dior and Cartier have joined the trend to release their take on luxury friendship bracelets–an indication of Swift's popularity seeping through the luxury industry. How Much Do These Luxury Friendship Bracelets Cost?According to various media reports, some of these luxury friendship bracelets costs hundreds, if not thousands of dollars. The Dior Bracelet set costs US$420,...
IBTimes
As we move into the second half of 2024, investors are keenly eyeing the beauty sector, particularly the stocks of e.l.f. Beauty Inc (NYSE: ELF) and Estée Lauder Companies Inc (NYSE: EL). While e.l.f. Beauty has seen a 20% increase in its stock value this year, Estée Lauder has struggled, with its stock down 35%. Analysts, however, see more potential in e.l.f. Beauty for the coming year. e.l.f. Beauty’s upward momentumBaird analyst Mark Altschwager recently upgraded e.l.f. Beauty to “outperform” in his research note, setting a price target of $230, which suggests a potential 35% upside. Altsch...
Invezz
Starbucks (Nasdaq: SBUX) is experiencing a significant stock slide on Monday, erasing gains from the recent news that activist investor Elliott Investment Management has taken a stake in the company. This development comes at a critical time as Starbucks faces declining sales and questions about its management. Starbucks faces declining sales and stock valueOver the past year, Starbucks stock has plummeted 23%. In April, it hit new 52-week lows following disappointing second-quarter earnings. The company reported a drop in same-store sales and earnings per share (EPS) that fell short of expect...
Invezz
JPMorgan analyst Matthew Boss has upgraded Abercrombie & Fitch Co. (NYSE: ANF) from Neutral to Overweight, raising his price target from $167 to $194. This revised target, representing a 16% increase, implies a potential upside of approximately 25.5% from the stock’s last trading price. This positive outlook comes as Abercrombie & Fitch prepares to join the S&P MidCap 400, a move effective today that highlights the company’s rising prominence and market valuation. Abercrombie & Fitch’s financial performance bolsters upgradeAbercrombie & Fitch’s recent financial results support JPMorgan’s bulli...
Invezz
On Wednesday, analysts at Morgan Stanley upgraded Gap Inc. (NYSE: GPS) to an Overweight rating from Equal Weight. The investment firm pegged a price target of $29, highlighting Gap’s potential as one of the “most compelling names in the retail sector.” This shift in perspective follows a series of optimistic evaluations from other financial institutions and a notable performance in Gap’s recent quarterly results. Firstly, the upgrade by Morgan Stanley is not isolated. Just last month, TD Cowen upgraded Gap to a Buy rating, driven by a potential upside to FY24 consensus estimates. The analyst p...
Invezz
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