retail
The Costco (NASDAQ: COST) stock price continued soaring this week after the company boosted its guidance and hiked its membership prices. It is in its third month of gains and is sitting at its all-time high of $900, giving it a market cap of over $393 billion. A future dividend aristocratCostco Wholesale is one of the leading companies in the wholesale industry in the United States. In the past few years, its total sales and profits have continued surging, helped by its local and international demand. Costco’s annual revenue has jumped from over $152.7 billion in 2019 to over $242 billion in ...
Invezz
Walmart has unveiled plans to launch five cutting-edge automated distribution centers across the United States, aimed at bolstering efficiency amidst the expansion of its online grocery operations. These new facilities, averaging 700,000 square feet each, will utilize advanced automation to manage perishable items like strawberries and frozen chicken nuggets. These goods are destined for Walmart stores or customer e-commerce orders. Upgrades in Walmart’s supply chain infrastructureThe initiative marks a substantial upgrade in Walmart’s supply chain infrastructure, responding to the increasing ...
Invezz
Carvana Co (NYSE: CVNA) has tripled since the start of 2024 but a Needham analyst is convinced it’s not out of room to run just yet. Chris Pierce upgraded shares of the used car retailer this morning to “buy”. Carvana stock traded at a high of $361 during the pandemic in 2021. Carvana stock has another 28% upsideThe Needham analyst now sees upside in CVNA to $160 that signals potential for another 28% gain from here. Pierce expects the digital-first experience to help the New York listed firm to gain share moving forward. His research note reads: We see CVNA becoming a profitable secular growt...
Invezz
Alibaba (NYSE: BABA) stock price record of underperformance has continued this year. It has dropped by over 1.50% this year as the Nasdaq 100 and S&P 500 indices soared by double digits. The stock has also dropped by over 54% while the two indices have risen by over 80%. Alibaba has become a big fallen angel, meaning that $10,000 invested in it in October 2020 would now be worth just $2,442. Good and highly undervalued companyAlibaba’s share price has mostly diverged from its financial performance. Its annual revenue has jumped from over $71.9 billion in 2020 to more than $130 billion in 2023....
Invezz
The following is the July 4, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. EU accession talks beginUkraine and Moldova on June 25 officially began their accession talks with the European Union in a moment full of excitement — and anxiety — about the changes ahead. “This is great news and the beginning of a path with a loooot [sic] of work for the entire state apparatus in the coming years,” Ukrainian lawmaker Yaroslav...
Kyiv Independent (CA)
The following is the July 4, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. EU accession talks beginUkraine and Moldova on June 25 officially began their accession talks with the European Union in a moment full of excitement — and anxiety — about the changes ahead. “This is great news and the beginning of a path with a loooot [sic] of work for the entire state apparatus in the coming years,” Ukrainian lawmaker Yaroslav...
Kyiv Independent
The following is the July 4, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. EU accession talks beginUkraine and Moldova on June 25 officially began their accession talks with the European Union in a moment full of excitement — and anxiety — about the changes ahead. “This is great news and the beginning of a path with a loooot [sic] of work for the entire state apparatus in the coming years,” Ukrainian lawmaker Yaroslav...
Kyiv Independent (UK)
Jeff Bezos has disclosed a plan to sell 25 million additional shares of Amazon.com Inc., valued at approximately $5 billion. This announcement coincided with Amazon’s stock reaching a new record high of $200 per share. The notice, filed after market closure on Tuesday, indicated that sales could commence immediately. This latest move follows Bezos’s sale of shares worth about $8.5 billion over nine trading days in February, marking his first disposal of company stock since 2021. Combined with the February sales, the upcoming transaction will bring his total share sales for the year to roughly ...
Invezz
Ford Motor Company has reported a modest increase in sales for the second quarter of 2024, with total vehicle sales rising to 536,050 units, a mere 1% increase compared to the same period last year. This contrasts sharply with the 10% growth seen in 2023, highlighting the challenges currently facing the U.S. auto industry. Impact of the cyberattack on dealership softwareA significant factor contributing to the slower sales growth was a cyberattack on CDK Global, a critical retail technology and software provider for dealerships, which occurred in late June. This attack disrupted a crucial sell...
Invezz
Shares of Floor & Decor Holdings Inc (NYSE: FND) have plummeted by approximately 30% from their year-to-date high in late March, following a critical short report published by Spruce Point Capital Management on Monday. The report has raised significant concerns about the company’s financial health and strategic direction. Spruce Point’s bearish stance on Floor & DecorBen Axler, the founder of Spruce Point Capital, has highlighted several red flags that underpin his bearish outlook on Floor & Decor stock. According to Axler, the home improvement retailer has been “ceasing disclosures” and “chan...
Invezz
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