As it also unveiled executive changes, Target reported that November/December holiday season comparable sales registered a 1.4% increase but that home department comps were off slightly.
Bed Bath & Beyond suffered a rough third quarter, with earnings dipping into the red, but in his first conference call as the company’s CEO, Mark Tritton provided his view of how the company would turn things around, including an expansion of in-store pickup and the launch of a new vendor collaboration program.
Although it made moves to improve its performance, including the establishment of a group purchasing organization with Kroger and record online sales for Black Friday in the U.S. and United Kingdom, Walgreens Boots Alliance said sales for the first quarter were soft.
As it reported tumbling financial results for the third quarter ended November 30, 2019, Pier 1 also informed investors that it could close as many as 450 of its total 942 stores.
During the third quarter, Hudson’s Bay continued to reposition its department store business even as its off-price Saks Off 5th operation generated positive comps in a period when the company’s luxury customers were bargain shopping.
BJ’s Wholesale Club approaches the holiday season behind a solid third quarter performance.
The third quarter was a tough one for Macy’s, so much so that the company reduced its full-year earnings per share guidance by 28 cents and its comparable store sales from flat to slightly up to negative territory, down 1.5% to 1% in its owned plus licensed stores.
Kohl’s may have improved its momentum as the third quarter ended with a comparable store sales increase, but it missed a Wall Street estimate for the period.
For the third quarter, TJX kept rolling, pointing to customer traffic as driving its earnings and sales performance as the off-price retailer positioned its holiday marketing campaigns for the fourth quarter.