Here’s the Thanksgiving dinner $50 buys you at Aldi, Costco, Walmart and more

Over half of Americans are planning to spend a full paycheck to make their Thanksgiving and Christmas holidays bright this year. But if you’re on a budget, the American Farm Bureau Federation estimated last year that you can get by spending just $48.90 for a 10-person Thanksgiving meal. And for the purposes of this price test, I assumed you already have pantry staples like flour, sugar, oil, salt and pepper. Here’s how much Thanksgiving dinner I was able to purchase for $50 at each store, ranked


Over half of Americans are planning to spend a full paycheck to make their Thanksgiving and Christmas holidays bright this year.
But if you’re on a budget, the American Farm Bureau Federation estimated last year that you can get by spending just $48.90 for a 10-person Thanksgiving meal.
And for the purposes of this price test, I assumed you already have pantry staples like flour, sugar, oil, salt and pepper.
Here’s how much Thanksgiving dinner I was able to purchase for $50 at each store, ranked
Here’s the Thanksgiving dinner $50 buys you at Aldi, Costco, Walmart and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: megan leonhardt
Keywords: news, cnbc, companies, yearthats, stuffing, yes, test, youre, price, buys, aldi, thanksgiving, dinner, walmart, items, bit, american, costco, heres


Here's the Thanksgiving dinner $50 buys you at Aldi, Costco, Walmart and more

Over half of Americans are planning to spend a full paycheck to make their Thanksgiving and Christmas holidays bright this year.

That’s not exactly chump change when you consider the average American makes about $50,000 a year, which comes out to biweekly paychecks of roughly $1,800. While that amount covers gifts and travel costs, it also includes food expenses. For Thanksgiving, those can be pricey if you don’t watch your budget.

But if you’re on a budget, the American Farm Bureau Federation estimated last year that you can get by spending just $48.90 for a 10-person Thanksgiving meal.

That seems a bit low, so I set out to determine if it’s possible to actually create a basic Thanksgiving feast at Northern New Jersey outposts of five of the most popular national grocery chains: Aldi, Costco, Trader Joe’s, Walmart and Whole Foods Market.

The goal: a meal consisting of a minimum of a 12-pound turkey, stuffing, mashed potatoes, corn, cranberry sauce and crescent rolls, as well as apple pie and coffee for dessert. To make all of that in a semi-homemade fashion (yes, the stuffing is from a box), the shopping list consists of 17 items to make eight complete dishes. For specifics, see the table at the bottom of this article.

To make it a bit easier, this test menu is designed for eight people. And for the purposes of this price test, I assumed you already have pantry staples like flour, sugar, oil, salt and pepper.

Here’s how much Thanksgiving dinner I was able to purchase for $50 at each store, ranked by price, as well as the quality and quantity of the items shopped. Keep in mind that many of these retailers will likely roll out specials and sales closer to Thanksgiving, so prices may fluctuate over the next few weeks.

In order words, this is a guide, not gospel.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: megan leonhardt
Keywords: news, cnbc, companies, yearthats, stuffing, yes, test, youre, price, buys, aldi, thanksgiving, dinner, walmart, items, bit, american, costco, heres


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Activist reportedly buys stake in MSG stock, sees Knicks and Rangers worth more than $7 billion

James Dolan, executive chairman and CEO of MSG, has been planning to spinoff the struggling New York teams from the other MSG assets, which include the Madison Square Garden Arena and the Radio City Music Hall. MSG, which has a market value of about $6.6 billion, would get a large boost from the sale of the highly-valued assets. Through Wednesday, shares of Madison Square Garden are up only 3% since January. The activist investor group has been looking into ways that MSG can boost share performa


James Dolan, executive chairman and CEO of MSG, has been planning to spinoff the struggling New York teams from the other MSG assets, which include the Madison Square Garden Arena and the Radio City Music Hall.
MSG, which has a market value of about $6.6 billion, would get a large boost from the sale of the highly-valued assets.
Through Wednesday, shares of Madison Square Garden are up only 3% since January.
The activist investor group has been looking into ways that MSG can boost share performa
Activist reportedly buys stake in MSG stock, sees Knicks and Rangers worth more than $7 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, worth, knicks, garden, share, rangers, buys, sees, stock, square, spinoff, teams, sale, reportedly, msg, madison, stake, billion, york


Activist reportedly buys stake in MSG stock, sees Knicks and Rangers worth more than $7 billion

RJ Barrett #9 of the New York Knicks shoots the ball dunks the ball against the Detroit Pistons on November 6, 2019 at Little Caesars Arena in Detroit, Michigan.

Activist investor in Madison Square Garden Company, Blue Harbour Group, is reportedly encouraging the sale of a portion the New York Knicks and New York Rangers in order to boost MSG share performance ahead of the planned spinoff of the sports teams, Bloomberg News reported on Wednesday.

Shares of Madison Square Garden rose 1.2% on Thursday on news that Blue Harbour Group’s Clifton Robbins estimates the two New York sports team are worth as much as $7.2 billion, and believes a possible sale of part of MSG’s stake it plans to retain would be a great way to maximize shareholder value.

James Dolan, executive chairman and CEO of MSG, has been planning to spinoff the struggling New York teams from the other MSG assets, which include the Madison Square Garden Arena and the Radio City Music Hall. MSG plans to retain a one-third of the sports assets after the spinoff. Robbins, whose firm has a 4% stake in MSG, is reportedly pressuring Dolan to sell a portion of the sports franchises ahead of the planned spinoff in the beginning of 2020.

MSG, which has a market value of about $6.6 billion, would get a large boost from the sale of the highly-valued assets. Robbins told Bloomberg he thinks shares of MSG are worth about $400 per share today. The stock closed at $275.72 on Wednesday.

Through Wednesday, shares of Madison Square Garden are up only 3% since January. The activist investor group has been looking into ways that MSG can boost share performance.

Blue Harbour Group did not immediately responded for comment from CNBC. MSG decline to comment.

Silver Lake Partners, which owns about 10% of MSG, reportedly offered buying a largest stake in the MSG sports teams ahead of the spin-off, the New York Post reported on Wednesday.

—read the full Bloomberg story here.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, worth, knicks, garden, share, rangers, buys, sees, stock, square, spinoff, teams, sale, reportedly, msg, madison, stake, billion, york


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Here’s how much space $1 million buys in 10 major US cities

In San Francisco proper, $1 million would typically get you a one-bedroom, one-bathroom condo, or a total of 888 square feet. In the metro area overall, $1 million covers a median of 1,150 square feet. In Memphis, however, you can expect $1 million to buy a home that’s roughly 5,440 square feet. That’s nearly five times the amount of space that same budget could afford in San Francisco. Here’s the median amount of space $1 million will buy in 10 major cities across the U.S.


In San Francisco proper, $1 million would typically get you a one-bedroom, one-bathroom condo, or a total of 888 square feet.
In the metro area overall, $1 million covers a median of 1,150 square feet.
In Memphis, however, you can expect $1 million to buy a home that’s roughly 5,440 square feet.
That’s nearly five times the amount of space that same budget could afford in San Francisco.
Here’s the median amount of space $1 million will buy in 10 major cities across the U.S.
Here’s how much space $1 million buys in 10 major US cities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-31  Authors: noah higgins-dunn
Keywords: news, cnbc, companies, feet, heres, cities, buys, square, san, condo, median, buy, million, space, thats, onebedroom, major


Here's how much space $1 million buys in 10 major US cities

Even if you’re lucky enough to enter the U.S. housing market with a $1 million budget, there’s still some bad news: That money might only buy a one-bedroom apartment, depending on where you want to live.

That’s according to new research from Using its own data, Zillow analyzed homes in each city valued between $950,000 and $1,050,000.

In some expensive, coastal cities, many homeowners choose a smaller condo or apartment in the heart of downtown, rather than a standalone home farther out. In San Francisco proper, $1 million would typically get you a one-bedroom, one-bathroom condo, or a total of 888 square feet. In the metro area overall, $1 million covers a median of 1,150 square feet.

In Memphis, however, you can expect $1 million to buy a home that’s roughly 5,440 square feet. That’s nearly five times the amount of space that same budget could afford in San Francisco.

Here’s the median amount of space $1 million will buy in 10 major cities across the U.S.


Company: cnbc, Activity: cnbc, Date: 2019-10-31  Authors: noah higgins-dunn
Keywords: news, cnbc, companies, feet, heres, cities, buys, square, san, condo, median, buy, million, space, thats, onebedroom, major


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China tech stocks are ‘screaming buys,’ Invesco’s Kristina Hooper says

“We’re looking at the potential for more fiscal stimulus, more monetary policy stimulus and so that could put China tech higher than where it is today.” “Certainly, China tech in general looks good, but I think those large tech names are best positioned,” she said. Despite her preference for China tech stocks, Hooper also likes U.S. Big Tech. “We’re in a slowing growth environment where oftentimes investors favor secular growth, and that would take us to a lot of the tech names,” she said. It’s


“We’re looking at the potential for more fiscal stimulus, more monetary policy stimulus and so that could put China tech higher than where it is today.”
“Certainly, China tech in general looks good, but I think those large tech names are best positioned,” she said.
Despite her preference for China tech stocks, Hooper also likes U.S. Big Tech.
“We’re in a slowing growth environment where oftentimes investors favor secular growth, and that would take us to a lot of the tech names,” she said.
It’s
China tech stocks are ‘screaming buys,’ Invesco’s Kristina Hooper says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-25  Authors: stephanie landsman
Keywords: news, cnbc, companies, tech, buys, hooper, trading, suspect, names, screaming, believes, trade, kristina, stocks, war, invescos, china


China tech stocks are 'screaming buys,' Invesco's Kristina Hooper says

Hooper, who oversees $1.2 trillion in assets, is particularly bullish on the BATS, China’s version of the FANG names. They are Baidu , Alibaba , Tencent Holdings and Sina .

“This could be a scenario where China is actually able to stimulate its economy enough to ride out this war,” the firm’s chief global market strategist told CNBC’s ” Trading Nation ” on Thursday. “We’re looking at the potential for more fiscal stimulus, more monetary policy stimulus and so that could put China tech higher than where it is today.”

But Invesco’s Kristina Hooper believes now is the time to buy them — especially since she believes China has the most to gain from trade negotiations and may even emerge from the war as a winner.

“Certainly, China tech in general looks good, but I think those large tech names are best positioned,” she said. “Valuations are so low. We look at it from a price-to-sales ratio standpoint. Just screaming buys in China.”

Despite her preference for China tech stocks, Hooper also likes U.S. Big Tech. She believes the current economic cycle bodes well for the group.

“We’re in a slowing growth environment where oftentimes investors favor secular growth, and that would take us to a lot of the tech names,” she said.

However, Hooper emphasizes her bullish domestic call on tech isn’t without near-term risks.

“U.S. tech is a long-term play. It may not perform well in the next couple of weeks,” she said. “But I suspect in this coming quarter we will see solid performance from U.S. tech largely because we expect an accommodative Fed environment.”

Overall, Hooper expects the major U.S. indexes will have a volatile ending to the year due to trade policy uncertainty, ultimately ending flat from current levels.

“I suspect we’re going to be stuck in a trading range. But this is a far better environment than we saw last year at this time,” Hooper said. “The Fed has been neutralized. It’s actually a positive for stocks, and really the big issue is going to be news flow around the U.S.-China trade war.”

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-10-25  Authors: stephanie landsman
Keywords: news, cnbc, companies, tech, buys, hooper, trading, suspect, names, screaming, believes, trade, kristina, stocks, war, invescos, china


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Uber buys grocery delivery company serving Latin America

Uber is buying a majority ownership stake of Cornershop, an online grocery delivery business serving Latin America in the latest step to diversify its revenue stream. The deal is expected to close in early 2020, according to a press release, with the current leadership at Cornershop continuing to lead the business and reporting to a board with majority Uber representation. The deal could help strengthen Uber’s revenue in Latin America, which saw a 24% dip between the second quarter of 2018 and 2


Uber is buying a majority ownership stake of Cornershop, an online grocery delivery business serving Latin America in the latest step to diversify its revenue stream. The deal is expected to close in early 2020, according to a press release, with the current leadership at Cornershop continuing to lead the business and reporting to a board with majority Uber representation. The deal could help strengthen Uber’s revenue in Latin America, which saw a 24% dip between the second quarter of 2018 and 2
Uber buys grocery delivery company serving Latin America Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: lauren feiner
Keywords: news, cnbc, companies, expected, business, grocery, majority, buys, cornershop, america, delivery, serving, deal, company, revenue, uber, latin, saw


Uber buys grocery delivery company serving Latin America

Uber is buying a majority ownership stake of Cornershop, an online grocery delivery business serving Latin America in the latest step to diversify its revenue stream.

The deal is expected to close in early 2020, according to a press release, with the current leadership at Cornershop continuing to lead the business and reporting to a board with majority Uber representation. Cornershop currently operates in Chile, Mexico, Peru and Toronto, according to the release.

The deal could help strengthen Uber’s revenue in Latin America, which saw a 24% dip between the second quarter of 2018 and 2019 while revenue from its other regional segments increased. Uber has differentiated itself from rival Lyft with its sprawling business, which includes meal delivery and freight services in addition to ridesharing.

Uber still faces questions from investors and analysts about its ability to turn a profit. In its last quarterly earnings report, Uber saw greater losses and lower revenue than expected. Its stock has slid more than 34% over the last three months, bringing its market cap to $49 billion, a steep decline from its last private valuation of $76 billion ahead of its May IPO.

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WATCH: Watch CNBC’s full interview with Uber CEO Dara Khosrowshahi


Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: lauren feiner
Keywords: news, cnbc, companies, expected, business, grocery, majority, buys, cornershop, america, delivery, serving, deal, company, revenue, uber, latin, saw


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Google buys 40 acres of farmland in Silicon Valley so it can grow trees for its campuses

Google has purchased 40 more acres of land in Silicon Valley, but it’s not to build more office space. The Alphabet-owned company spent $2.1 million on 40 acres of land in Gilroy, California, according to a recent report by the San Jose Mercury News. The intent is to use the property as a tree farm to produce foliage for its existing and new campuses, a company spokesperson told CNBC. Google already has several Silicon Valley offices including in San Jose, Mountain View and San Francisco. Since


Google has purchased 40 more acres of land in Silicon Valley, but it’s not to build more office space. The Alphabet-owned company spent $2.1 million on 40 acres of land in Gilroy, California, according to a recent report by the San Jose Mercury News. The intent is to use the property as a tree farm to produce foliage for its existing and new campuses, a company spokesperson told CNBC. Google already has several Silicon Valley offices including in San Jose, Mountain View and San Francisco. Since
Google buys 40 acres of farmland in Silicon Valley so it can grow trees for its campuses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: jennifer elias
Keywords: news, cnbc, companies, jose, million, san, valley, campuses, google, farmland, view, acres, silicon, spent, grow, company, plans, buys, trees


Google buys 40 acres of farmland in Silicon Valley so it can grow trees for its campuses

Google has purchased 40 more acres of land in Silicon Valley, but it’s not to build more office space.

The Alphabet-owned company spent $2.1 million on 40 acres of land in Gilroy, California, according to a recent report by the San Jose Mercury News. The intent is to use the property as a tree farm to produce foliage for its existing and new campuses, a company spokesperson told CNBC.

The latest purchase comes as the company prepares to build its massive, second headquarters in San Jose, California, which will span 6 million square feet and include about 15 acres of parks and green space. The project, whose plans will be finalized in December, is expected to house 20,000 employees.

It also comes as Google’s expansions have caused tension among community residents who fear the company’s growth will add to an already tight housing supply. Google already has several Silicon Valley offices including in San Jose, Mountain View and San Francisco.

Since the company announced its San Jose campus plans in 2017, it has spent more than $400 million buying up real estate in San Jose and more than $250 million in Mountain View, according to data from the Silicon Valley Business Journal.

The company planned to spend $13 billion on new offices and data centers in the U.S. in 2019 alone, with most of that growth outside of the Bay Area.


Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: jennifer elias
Keywords: news, cnbc, companies, jose, million, san, valley, campuses, google, farmland, view, acres, silicon, spent, grow, company, plans, buys, trees


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Best Buy sees reaching $50 billion in revenue by fiscal 2025, targets $1 billion in cost cuts

Best Buy is targeting $50 billion in revenue by fiscal 2025, the company announced Wednesday morning ahead of a meeting with investors in New York. For fiscal 2020, Best Buy is still targeting revenue to fall within a range of $43.1 billion to $43.6 billion. “In addition, Best Buy’s conservative financial policy affords it the flexibility to invest if necessary to execute this growth plan.” Best Buy has also been focused on growing partnerships with tech behemoths, including Amazon. Best Buy sha


Best Buy is targeting $50 billion in revenue by fiscal 2025, the company announced Wednesday morning ahead of a meeting with investors in New York. For fiscal 2020, Best Buy is still targeting revenue to fall within a range of $43.1 billion to $43.6 billion. “In addition, Best Buy’s conservative financial policy affords it the flexibility to invest if necessary to execute this growth plan.” Best Buy has also been focused on growing partnerships with tech behemoths, including Amazon. Best Buy sha
Best Buy sees reaching $50 billion in revenue by fiscal 2025, targets $1 billion in cost cuts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-25  Authors: lauren thomas
Keywords: news, cnbc, companies, buy, cuts, share, best, targets, reaching, sees, cost, revenue, targeting, buys, billion, fiscal, sales, company, ahead


Best Buy sees reaching $50 billion in revenue by fiscal 2025, targets $1 billion in cost cuts

Best Buy is targeting $50 billion in revenue by fiscal 2025, the company announced Wednesday morning ahead of a meeting with investors in New York.

The company also said in a press release it plans to cut an additional $1 billion in costs over the next five years, while operating income over that time frame grows at a 5% rate.

For fiscal 2020, Best Buy is still targeting revenue to fall within a range of $43.1 billion to $43.6 billion.

The electronics retailer previously had been calling for fiscal 2020 earnings per share to fall between $5.60 and $5.75, excluding one-time items. Sales at stores open at least a year have been forecast to rise 0.7% to 1.7%.

Moody’s retail analyst Charlie O’Shea called Best Buy’s new financial targets “very attainable” and said they align with the firm’s “long-standing view that Best Buy will continue as one of the top performers in U.S. retail.”

“The core franchise remains on rock-solid footing, driven by … vendor relationships that are expanding and deepening, a store experience that clearly resonates with consumers, and a sensible extension strategy into segments such as health care,” O’Shea said in an emailed statement. “In addition, Best Buy’s conservative financial policy affords it the flexibility to invest if necessary to execute this growth plan.”

Analysts on average project Best Buy will earn between $5.60 and $5.86 per share this fiscal year, on sales of $43.39 billion, according to Refinitiv.

For the third and current quarter, analysts have been calling earnings per share of $1.03, on sales of $9.7 billion.

CEO Corie Barry said in an interview with CNBC’s Courtney Reagan ahead of the investor meeting that Best Buy plans to “double down” on its growth strategy, despite “disruption” in the industry. Barry just took over the CEO role in June, making her the first woman to lead the Minnesota-based company, and, at 44, the youngest female CEO in the Fortune 100.

Last month, Best Buy’s second quarter profits topped analysts’ expectations, but sales came up short. The company has been investing in its supply chain to speed up delivery ahead of the holiday season, in addition to a slew of recent investments in health care, which it hopes will set it apart from other competitors in the electronics space.

Best Buy has also been focused on growing partnerships with tech behemoths, including Amazon.

Best Buy shares, as of Tuesday’s market close, have surged more than 27% this year. In premarket trading on Wednesday, the stock was up less than 1%.


Company: cnbc, Activity: cnbc, Date: 2019-09-25  Authors: lauren thomas
Keywords: news, cnbc, companies, buy, cuts, share, best, targets, reaching, sees, cost, revenue, targeting, buys, billion, fiscal, sales, company, ahead


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Microsoft buys start-up Movere to help businesses move work to the cloud

Microsoft’s effort to get more businesses onto its Azure public cloud is poised to get an assist from the acquisition of a start-up called Movere. Movere’s technology helps IT administrators better understand how data center tools are used and then figure out the best options as they move into the public cloud. Microsoft said in a blog post on Wednesday that it bought Movere to make “migration an easier process for our customers.” While AWS is larger than Azure, Microsoft’s business is growing f


Microsoft’s effort to get more businesses onto its Azure public cloud is poised to get an assist from the acquisition of a start-up called Movere. Movere’s technology helps IT administrators better understand how data center tools are used and then figure out the best options as they move into the public cloud. Microsoft said in a blog post on Wednesday that it bought Movere to make “migration an easier process for our customers.” While AWS is larger than Azure, Microsoft’s business is growing f
Microsoft buys start-up Movere to help businesses move work to the cloud Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: jordan novet
Keywords: news, cnbc, companies, buys, microsoft, businesses, azure, work, data, public, transformation, technology, help, startup, cloud, post, microsofts, movere


Microsoft buys start-up Movere to help businesses move work to the cloud

Microsoft’s effort to get more businesses onto its Azure public cloud is poised to get an assist from the acquisition of a start-up called Movere.

Movere’s technology helps IT administrators better understand how data center tools are used and then figure out the best options as they move into the public cloud. Microsoft said in a blog post on Wednesday that it bought Movere to make “migration an easier process for our customers.”

Terms weren’t disclosed, but the deal highlights the importance of bolstering Azure, which trails Amazon Web Services in the cloud infrastructure market. Both companies are luring an increasing number of large businesses and government agencies, which are offloading large workloads and data storage to the cloud so they can do more with their data and access it quickly from anywhere.

“We believe that successful cloud migrations enable business transformation, and this acquisition underscores our investments to make that happen,” Jeremy Winter, partner director for Azure management at Microsoft, wrote in the post. Movere’s technology helps companies move to Amazon as well as to Azure.

While AWS is larger than Azure, Microsoft’s business is growing faster. The company said Azure revenue grew 64% in the latest quarter, while sales at AWS rose 37%. Google, a smaller competitor in the public cloud market, bought start-up Alooma earlier this year to help with smoothing cloud migrations.

Movere’s customers include 21st Century Fox, AT&T, IBM and McDonald’s, according to the company’s website. Movere was founded in 2008 and is based in Bellevue, Washington, near Microsoft’s Redmond headquarters.

WATCH: Discussing the ‘human impact’ of digital transformation


Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: jordan novet
Keywords: news, cnbc, companies, buys, microsoft, businesses, azure, work, data, public, transformation, technology, help, startup, cloud, post, microsofts, movere


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Best Buy revs up supply chain ahead of the holiday season

Best Buy’s metro e-commerce center in Compton, California, a suburb of Los Angeles, uses robots to sort through boxes of inventory. But Best Buy has likewise been chipping away at its delivery strategy for the past few years. Now it has three modern warehouse facilities, known as “metro e-commerce centers,” up and running to help with the process. He left Target’s supply chain division to join Best Buy in 2013. Joly stepped down as Best Buy CEO on June 11, handing the reins to Corie Barry, who w


Best Buy’s metro e-commerce center in Compton, California, a suburb of Los Angeles, uses robots to sort through boxes of inventory. But Best Buy has likewise been chipping away at its delivery strategy for the past few years. Now it has three modern warehouse facilities, known as “metro e-commerce centers,” up and running to help with the process. He left Target’s supply chain division to join Best Buy in 2013. Joly stepped down as Best Buy CEO on June 11, handing the reins to Corie Barry, who w
Best Buy revs up supply chain ahead of the holiday season Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: lauren thomas
Keywords: news, cnbc, companies, metro, revs, piscataway, ahead, ecommerce, online, season, supply, buy, best, centers, holiday, chain, buys, orders


Best Buy revs up supply chain ahead of the holiday season

Best Buy’s metro e-commerce center in Compton, California, a suburb of Los Angeles, uses robots to sort through boxes of inventory. Source: Best Buy

Tucked away in a fulfillment center about an hour’s drive from New York City, Best Buy is using dozens of robots to sort through boxes of iPads, HP laptops, Beats by Dre headphones, DVDs, video games and more to ship to shoppers’ homes. The thousands of bins overflowing with goods have traditionally been picked by hand, requiring the tedious work of Best Buy’s warehouse workers. An average worker could track more than seven miles by foot in a single day just searching for items. But new technology at three facilities in Los Angeles, Chicago and Piscataway, New Jersey do the heavy lifting now. There’s much talk about the shipping wars between big-box retailers Walmart and Target and e-commerce giant Amazon. But Best Buy has likewise been chipping away at its delivery strategy for the past few years. It started shipping online orders from stores in 2014. Now it has three modern warehouse facilities, known as “metro e-commerce centers,” up and running to help with the process. It should put the company in a more competitive position ahead of the 2019 holiday season. “When Hubert Joly came in [as CEO], that’s when there was a leader that said: ‘OK, supply chain, let’s do this right,'” said Best Buy’s chief supply chain officer, Rob Bass, during a tour of the Piscataway warehouse. Back in 2013, “we didn’t have some of the expertise that you need in a modern supply chain,” he said. “But once we got the team and the people set up, then you start to get to the technology side … which leads to what you see here today.”

A worker sorts through items at Best Buy’s Piscataway warehouse. Source: CNBC, Lauren Thomas

Much of this recent back-end work is thanks to Bass’ vision. He left Target’s supply chain division to join Best Buy in 2013. Before that, he was an airline pilot. And now, he’s spearheading Best Buy’s latest logistics push, having laid out a plan for Joly during his recruiting process that incorporated ways to get online orders to customers more quickly, reduce out-of-stocks in stores and even cut back on excess cardboard — an issue that’s proliferated in the industry with e-commerce’s ascent. “It’s really easy to make the supply chain an afterthought and not give [it] the support it needs,” Bass said. “Hubert understood that. … He approved [my plan]. The board approved it.” Joly stepped down as Best Buy CEO on June 11, handing the reins to Corie Barry, who was previously CFO. He remains executive chairman of the board. The two have said they plan to work closely together, with Barry continuing to chip away at the growth strategy Best Buy laid out at a 2017 investor day, which includes key supply chain investments. Best Buy hasn’t quantified exactly how much money it’s spending on logistics. But a spokesperson said the percentage of capital it has set aside for projects in fiscal 2019 and 2020 is at least two times what it’s used in the past.

This machine helps Best Buy reduce cardboard waste, at its Piscataway warehouse. Source: CNBC, Lauren Thomas

Best Buy’s metro e-commerce center in Piscataway, serving New Jersey, New York and Philadelphia, opened in March. The Los Angeles center came online last fall. And the one in Chicago opened in June. The metro e-commerce centers differ from the company’s six regional distribution centers for store fulfillment as they’re much closer to customers’ homes and are able to service next-day orders. They also help with delivering bulky appliances to shoppers’ houses — something Best Buy is doing on a daily basis with its massive appliance business, which accounted for 11% of its $8.48 billion in domestic sales in the first quarter. A metro e-commerce center is about 50,000 square feet in size, compared with 750,000 for regional distribution centers. It keeps about 3,000 of Best Buy’s current best-selling items stocked there. “Based on the product cycles, we work to put the right things in here,” Bass said, during the recent interview. “Today HP laptops are flying out the door because we have a sale going on.” The three facilities set Best Buy up to reach 50 million people, the company said, with free next-day delivery, giving customers the ability to make purchases as late as 8 p.m. and have the order shipped out that same day. “These centers complement our regional [distribution centers] along with our stores,” Bass said. “There are other places around the country where this solution would be an overkill. … We are always looking at our sourcing algorithm to figure out the right mix.” Best Buy has been making these investments as its business continues to grow, especially online. Best Buy’s digital sales amounted to $6.5 billion in fiscal 2019 and represent 16.6% of total revenue, up from $5.9 billion in 2018, or 15.5%. E-commerce sales have more than doubled since 2012, the company said. Best Buy has also said that at any given time, about 40% of its online orders are picked up at stores, which includes people using a curbside pickup option. Best Buy recently ranked ninth in a list of companies with the most e-commerce market share in the U.S., according to eMarketer. It fell behind Amazon, eBay and Walmart.

Best Buy is able to use its metro e-commerce centers to not only fulfill online orders but also to help with daily appliance delivery and installation. Source: CNBC, Lauren Thomas

“Right now it seems to me [Best Buy] is farthest along in what I’ve called the holy grail of retail,” Moody’s retail analyst Charlie O’Shea said in an interview. “They have one pile of inventory in a distribution center both stocking stores and fulfilling online orders.” “I think they will be one of the top performers this holiday, as it has been the past few,” he added. “I don’t see any reason for that to change.” According to Bass, the company is thinking about where it will open additional metro e-commerce centers next. But those plans likely won’t solidify until after this holiday season is behind it. “This is the time of year we all say — let’s get really good at what we have in our current portfolio,” he said. “We will reevaluate next year.”

Cutting cardboard

While it’s working on speed, Best Buy also has a solution for the mountains of cardboard that pile up thanks to a proliferation of people ordering things on the internet. It’s using state-of-the-art machines at its three metro e-commerce centers, including in Piscataway, that precisely trim cardboard around items ranging from headphones to iPads and make boxes on the spot, fit to size. A machine can cut about 15 boxes every minute.

The box-making machines at Best Buy’s facilities in New Jersey, California and Illinois can cut about 15 cardboard boxes every minute. Source: Best Buy


Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: lauren thomas
Keywords: news, cnbc, companies, metro, revs, piscataway, ahead, ecommerce, online, season, supply, buy, best, centers, holiday, chain, buys, orders


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VMware buys Carbon Black and Pivotal, valued together at $4.8 billion

Software company VMware on Thursday said it’s acquiring Carbon Black at an enterprise value of $2.1 billion and Pivotal at an enterprise value of $2.7 billion. Carbon Black shares rose as much as 6% after shares were initially halted following the close of the trading session. Carbon Black vaults VMware into endpoint protectionCarbon Black was founded in 2002 and debuted on the Nasdaq under the symbol “CBLK” in May 2018. Carbon Black shareholders will get $26 per share in cash from VMware for a


Software company VMware on Thursday said it’s acquiring Carbon Black at an enterprise value of $2.1 billion and Pivotal at an enterprise value of $2.7 billion. Carbon Black shares rose as much as 6% after shares were initially halted following the close of the trading session. Carbon Black vaults VMware into endpoint protectionCarbon Black was founded in 2002 and debuted on the Nasdaq under the symbol “CBLK” in May 2018. Carbon Black shareholders will get $26 per share in cash from VMware for a
VMware buys Carbon Black and Pivotal, valued together at $4.8 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: jordan novet
Keywords: news, cnbc, companies, black, certain, 48, share, revenue, items, earnings, vmware, carbon, valued, excluding, pivotal, buys, billion


VMware buys Carbon Black and Pivotal, valued together at $4.8 billion

Software company VMware on Thursday said it’s acquiring Carbon Black at an enterprise value of $2.1 billion and Pivotal at an enterprise value of $2.7 billion. The deals are expected to close by the end of January 2020. Shares of Pivotal were up as much as 8% after the announcement, while VMware shares fell as much as 7%. Carbon Black shares rose as much as 6% after shares were initially halted following the close of the trading session. These are VMware’s largest acquisitions yet. The deals build on VMware’s strength helping companies run their software in their own data centers. They could help VMware compete better in the security market and hybrid-cloud infrastructure operations. VMware isn’t talking about cost synergies that could come out of buying two other enterprise-focused companies. However, CEO Pat Gelsinger told CNBC the companies will be operating profitably under VMware next year. Gelsinger said that by year two, Carbon Black and Pivotal will have contributed more than $1 billion in revenue incrementally, which will mean VMware will have more than $3 billion in hybrid cloud and software-as-a-service revenue. Also on Thursday VMware announced earnings for the second quarter of its 2020 fiscal year. The company reported $1.60 in earnings per share, excluding certain items, on $2.44 billion in revenue. Analysts polled by Refinitiv had been expecting $1.55 in earnings per share, excluding certain items, on $2.43 billion in revenue for the quarter. For the fiscal third quarter, VMware is calling for $1.42 in earnings per share, excluding certain items, and $2.4 billion in revenue. Analysts polled by Refinitiv were expecting $1.57 per share, excluding certain items, on $2.45 billion in revenue. For the whole 2020 fiscal year VMware is calling for $6.54 in earnings per share, excluding certain items, on $10.03 billion in revenue. The Refinitiv consensus was $6.52 in earnings per share, excluding certain items, and $10.03 billion in revenue.

Carbon Black vaults VMware into endpoint protection

Carbon Black was founded in 2002 and debuted on the Nasdaq under the symbol “CBLK” in May 2018. The company provides anti-malware and endpoint protection products that can see into many of a company’s devices and tell if they have been hacked. In the most recent quarter, Carbon Black reported a loss of 13 cents per share, excluding certain items, on $60.9 million in revenue, with 19% annualized revenue growth. Carbon Black shares are up 2% in the past year. Carbon Black shareholders will get $26 per share in cash from VMware for a total of $1.9 billion in cash. The price per share is 14% higher than the stock’s $22.75 closing price on Wednesday. The endpoint security marketplace is crowded, and Carbon Black competes heavily with rivals such as Crowdstrike, Cylance, Fortinet and Symantec. The space has been ripe for consolidation in recent years, particularly from traditional hardware companies. Blackberry acquired Cylance in 2018 in an effort to beef up its new business proposition as a cybersecurity company, and Broadcom said that it would acquire Symantec’s enterprise business earlier this month. Though crowded, the endpoint protection marketplace is also poised for growth. While more diverse devices go online — including more corporate-owned devices — further enabled by 5G technology, that means more and different endpoints that can serve as an entryway for criminals. Carbon Black touted its relationships with VMware as well as IBM when it filed to go public last year. CTFN reported earlier this month that Carbon Black hired Morgan Stanley to explore opportunities to sell itself. CTFN also reported that Cisco and IBM had expressed interest, according to Bloomberg. Gelsinger did not confirm that Carbon Black talked with Cisco or IBM but said public companies do perform “customary market checks” to ensure a deal is beneficial. Carbon Black’s CEO, Patrick Morley, will run a security business unit that VMware is forming, and VMware will move some existing assets into it, Gelsinger said. He said VMware has been developing a thesis that infrastructure and applications should be secure by default and shouldn’t need extra treatment by a security team. Breaches are happening to VMware’s customers even after they have deployed security products, Gelsinger said. “It ain’t working,” he said. Based in Waltham, Massachusetts, Carbon Black had 1,138 employees at the end of 2018, and customers include Belk, DA Davidson, Evernote and Netflix, according to the company’s website.

Pivotal has a long history with VMware


Company: cnbc, Activity: cnbc, Date: 2019-08-22  Authors: jordan novet
Keywords: news, cnbc, companies, black, certain, 48, share, revenue, items, earnings, vmware, carbon, valued, excluding, pivotal, buys, billion


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