Published on 24 Nov 2021 on Benzinga
Big Box Retailers Determined to Save Christmas
Last week, we got to see how retail is doing as big names reported their earnings, including Target (NYSE: TGT), Walmart (NYSE: WMT), Kohl's Corporation (NYSE: KSS), Macy's Inc (NYSE: M), The TJX Companies Inc (NYSE: TJX), Lowe's Companies Inc (NYSE: LOW), and Foot Locker (NYSE: FL). Their results showed that supply chain disruptions did not overshadow strong demand.
The big-name retailer reported positive results but shares fell as it is focused to absorb some of the higher costs it's seeing, as opposed to passing them on to customers, a praise-worthy strategy that squeezes margins. But it raised its annual forecasts and beat profit expectations, citing an early start to holiday shopping as moments such as Halloween and back-to-school boosted sales.