{
}
Truist Securities maintains a Buy rating on Ollie’s Bargain Outlet with a price target of $121, citing strong financial health and anticipated fourth-quarter earnings growth. Analysts predict a 14% store growth in 2025, driven by the liquidation of Big Lots stores, while other firms like Piper Sandler and RBC Capital Markets also express optimism, raising their price targets. However, Jefferies downgraded Ollie’s to Hold, citing concerns over inventory growth.
Dozens of major U.S. retailers have raised interest rates on store-branded credit cards to record highs, with at least 50 companies, including Big Lots and Macy’s, increasing APRs significantly ahead of the Federal Reserve's rate cuts. The average APR on store cards surged by 1.52 percentage points from September 2023 to September 2024, driven by profit motives amid sluggish sales and rising credit card debt. Consumers are cautioned to reconsider signing up for these cards, as many may not fully understand the financial implications.
Nexus Capital Management has secured $765 million in financing to lead the acquisition of Big Lots Inc. after a federal judge approved its bid. This stalking horse bid is open to competing offers until a noon deadline on October 28.
Nexus Capital Management is securing approximately $750 million in financing to support its takeover bid for Big Lots Inc., which is currently in bankruptcy. During a court hearing in Delaware, Big Lots' attorney indicated confidence that Nexus will finalize its bid ahead of the upcoming deadline. The offer is structured as a stalking horse bid, allowing for potentially better offers to emerge.
Big Lots shares surged 12.27% to USD 0.1025 on October 19, 2024, despite ongoing financial struggles, including a negative cash flow of USD 0.3 billion this year. The stock remains down 6.82% for the month, with key financial ratios indicating potential undervaluation, prompting urgent action for shareholders.
Walgreens plans to close approximately 1,200 unprofitable stores across the U.S. over the next three years, starting with 500 in fiscal year 2025, as part of a turnaround strategy under CEO Tim Wentworth. This decision, affecting about 13% of its locations, comes amid challenges from rising competition and declining drug reimbursement rates, despite a 6% revenue increase last fiscal year. The pharmacy chain reported a $3 billion loss last quarter, highlighting the ongoing struggles within the retail pharmacy sector.
Big Lots, Inc.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Truist maintains buy rating for Ollie's with steady price target of 121
16:32 18.03.2025
retailers raise store card interest rates ahead of federal cuts
United States Dollar
Burlington Stores, Inc.
Petco
Big Lots, Inc.
The TJX Companies, Inc.
Academy Sports and Outdoors, Inc.
The Gap, Inc.
Nordstrom, Inc.
Michael S. Batiste Irrevocable Trust
Macy's, Inc.
USA
Jasmine Matheney
Brian Robinson
Ted Rossman
Paul Lejuez
Adrian Mitchell
Show more
13:05 22.11.2024
nexus capital secures financing for big lots acquisition amid bankruptcy proceedings
20:16 25.10.2024
nexus capital seeks financing for big lots acquisition bid
23:49 21.10.2024
big lots shares surge despite financial struggles and ongoing challenges
14:12 20.10.2024
Walgreens to close 1200 stores amid financial struggles and competition
United States Dollar
Rite Aid Corporation
Sears
Big Lots, Inc.
Kmart
J.C. Penney (Benelux) Ltd.
True Value Company
CV Sciences, Inc.
LL Flooring Holdings, Inc.
Hooters OF Odessa Inc.
RED Lobster Management LLC
Bed Bath & Beyond Inc.
Walgreens Boots Alliance, Inc.
Disney Stores
USA
Gabe Hauari
Tim Wentworth
Show more
09:00 15.10.2024
Trending
Subcategory
Industry Trends
Corporate News
Startups & Entrepreneurship
Supply Chain Management
Global Trade Developments
Retail and Consumer Goods
Industry Mergers & Acquisitions
Government Economic Policies
Private Equity Deals
CEO Changes
Workplace Trends
Stock Market Updates
Emerging Startups
Corporate Social Responsibility
Funding Rounds & Investments
Consumer Protection Regulations
Fintech Startups
AI Innovations
Global Trade Policies
Anti-Money Laundering (AML) Regulations
Countries:
Companies:
Apple Inc.
Google Inc.
NVIDIA Corporation
Amazon.com, Inc.
JD.com, Inc.
Tesla, Inc.
Toyota Motor Corp
Honda Motor Co., Ltd.
Microsoft Corporation
Samsung Securities Co.,Ltd.
Meituan
Tesmec S.p.A.
Emirates NBD Bank PJSC
Boeing Co
The Goldman Sachs Group, Inc.
Foxconn Technology Co., Ltd.
HP Inc.
KiloEx USD
Opec
XIAOMI-W
Currencies:
United States Dollar
Chinese Yuan
Indian Rupee
Euro
Japanese Yen
British Pound Sterling
Offshore Chinese Yuan
Indonesian Rupiah
Nigerian Naira
Nicaraguan Córdoba
New Taiwan Dollar
Qatari Riyal
Mexican Peso
Pakistani Rupee
Saudi Riyal
Malaysian Ringgit
Vietnamese Đồng
South Korean Won
Singapore Dollar
Macanese Pataca
People: