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Kohl's has revised its annual sales forecast downward, anticipating a 7% to 8% decline, amid weak holiday shopping demand and a leadership change. The company reported a 9.3% drop in comparable sales for the third quarter, marking its eleventh consecutive decline, as consumers gravitate towards bargain retailers. CEO Tom Kingsbury's unexpected exit comes just before the critical holiday season, with Ashley Buchanan set to take over in January.
Walmart, the largest retailer globally, is rolling back its diversity, equity, and inclusion (DEI) policies, following a trend among major corporations facing pressure from conservative activists. The changes include not renewing a commitment to an equity racial center and withdrawing from a gay rights index, reflecting the impact of the U.S. Supreme Court's ruling against affirmative action. This shift has been echoed by other companies like Ford and Harley-Davidson, which have also scaled back their DEI initiatives.
Walmart is scaling back its diversity, equity, and inclusion (DEI) initiatives, including removing some LGBTQ merchandise from its website and winding down its Center for Racial Equity. The company will no longer allow third-party sellers to offer certain LGBTQ-themed items and has ceased sharing data with LGBTQ advocacy groups. These changes come amid pressure from conservative activists and follow the U.S. Supreme Court's decision to strike down affirmative action programs.
Walmart Inc. is scaling back its diversity, equity, and inclusion initiatives, aligning with a trend among businesses responding to conservative activism. The retailer will cease considering race and gender in supplier contract decisions and will stop collecting demographic data for financing assessments.
In a recent discussion, accounting professor Patrick Badolato emphasized the importance of looking beyond P/E ratios to assess a company's true value. He highlighted Walmart's potential for earnings growth through strategic initiatives and urged investors to consider diverse revenue streams and future projections. Additionally, he encouraged a broader evaluation of companies like Netflix, focusing on content quality and customer engagement to uncover growth opportunities.
US retailers are extending Black Friday deals into weeks-long sales events to stimulate consumer spending, which is showing signs of slowing. Major retailers like Walmart, Amazon, and Target are offering significant discounts, yet general merchandise sales fell 3% year-on-year as consumer confidence remains low amid persistent inflation concerns. Despite forecasts of nearly $1 trillion in holiday sales, growth is expected to be the slowest since 2018, prompting retailers to incentivize purchases across different income levels.
Top Wall Street analysts are optimistic about dividend stocks as the Federal Reserve embarks on a rate-cutting campaign. Exxon Mobil (XOM) reported strong Q3 results, increasing its dividend for the 42nd consecutive year, while Coterra Energy (CTRA) aims to return over 50% of its free cash flow to shareholders. Walmart (WMT) also raised its annual dividend, benefiting from robust e-commerce growth and improved margins.
Thanksgiving dinner costs are historically low this year, averaging $58.08 for a 10-person gathering, a 5% decrease from last year. While food prices have risen 19% since 2019, median household wages have increased by about 25%, making this year's meal more affordable when adjusted for inflation. Retailers are competing with promotions, offering various meal packages that cater to different preparation preferences.
Walmart Inc. is set to exceed its corporate employee bonus targets this year, with bonuses potentially reaching 120% of eligibility due to strong sales and rising stock prices. The final bonus amounts will be confirmed at the end of January, following the conclusion of the fiscal year.
Flipkart Group has appointed Dan Bartlett, Executive Vice President of Corporate Affairs at Walmart, to its Board of Directors, effective November 21, 2024. Bartlett, who has been involved with Flipkart since Walmart's investment in 2018, brings expertise in public policy and sustainability, aiming to enhance Flipkart's role in sustainable growth and job creation in India. CEO Kalyan Krishnamurthy emphasized that Bartlett's experience will be a valuable asset as the company continues to expand.
Walmart Inc.
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kohl's lowers sales forecast amid weak holiday shopping and leadership change
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