Bed Bath & Beyond shares plunge 26% on weak same-store sales warning

Shares of Bed Bath & Beyond fell 26% on Tuesday after the home furnishing retailer said sales in the first two months of the final quarter were hit by increased promotions, falling store traffic and inventory management issues. The company said same-store sales for December and January fell 5.4%. “We are experiencing short-term pain in our efforts to stabilize the business, including the pressures of store traffic trends coupled with our own executional challenges,” Chief Executive Officer Mark


Shares of Bed Bath & Beyond fell 26% on Tuesday after the home furnishing retailer said sales in the first two months of the final quarter were hit by increased promotions, falling store traffic and inventory management issues.
The company said same-store sales for December and January fell 5.4%.
“We are experiencing short-term pain in our efforts to stabilize the business, including the pressures of store traffic trends coupled with our own executional challenges,” Chief Executive Officer Mark
Bed Bath & Beyond shares plunge 26% on weak same-store sales warning Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-12
Keywords: news, cnbc, companies, weak, inventory, bed, bath, trends, shares, fell, quarter, samestore, traffic, plunge, warning, store, sales, tritton, company


Bed Bath & Beyond shares plunge 26% on weak same-store sales warning

Shares of Bed Bath & Beyond fell 26% on Tuesday after the home furnishing retailer said sales in the first two months of the final quarter were hit by increased promotions, falling store traffic and inventory management issues.

The company said same-store sales for December and January fell 5.4%. Analysts on average were expecting a drop of 3.97% for the fourth quarter, according to IBES data from Refinitiv.

“We are experiencing short-term pain in our efforts to stabilize the business, including the pressures of store traffic trends coupled with our own executional challenges,” Chief Executive Officer Mark Tritton said.

The company said product availability leading into the holiday period was also a contributing factor, as inventory within certain categories was too low or out-of-stock.

Bed Bath & Beyond is set to report its fourth-quarter earnings on April 15.

Shares of the company, which rose about 53% in 2019, fell to $11 in extended trading.


Company: cnbc, Activity: cnbc, Date: 2020-02-12
Keywords: news, cnbc, companies, weak, inventory, bed, bath, trends, shares, fell, quarter, samestore, traffic, plunge, warning, store, sales, tritton, company


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Clorox CEO on coronavirus outbreak: ‘We’re not seeing an impact on sales just yet’

Clorox has not seen an increase in demand amid the coronavirus outbreak, but the company has plans in place to keep shelves stocked with its cleaning products should sales pick up, CEO Benno Dorer told CNBC’s Jim Cramer on Wednesday. The comments come one day after Clorox reported quarterly results where the company’s top-line numbers were in line with Wall Street estimates and the bottom line topped expectations. “What I can tell you is that we’re leaning into inventory to be ready, just in cas


Clorox has not seen an increase in demand amid the coronavirus outbreak, but the company has plans in place to keep shelves stocked with its cleaning products should sales pick up, CEO Benno Dorer told CNBC’s Jim Cramer on Wednesday.
The comments come one day after Clorox reported quarterly results where the company’s top-line numbers were in line with Wall Street estimates and the bottom line topped expectations.
“What I can tell you is that we’re leaning into inventory to be ready, just in cas
Clorox CEO on coronavirus outbreak: ‘We’re not seeing an impact on sales just yet’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-05  Authors: tyler clifford
Keywords: news, cnbc, companies, line, sales, consumers, clorox, coronavirus, outbreak, impact, inventory, dorer, revenue, seeing, disease, health, reported, ready, ceo


Clorox CEO on coronavirus outbreak: 'We're not seeing an impact on sales just yet'

Clorox has not seen an increase in demand amid the coronavirus outbreak, but the company has plans in place to keep shelves stocked with its cleaning products should sales pick up, CEO Benno Dorer told CNBC’s Jim Cramer on Wednesday.

“We’re not seeing an impact on sales just yet, but what we are focused on is educating consumers on the proper use, on ways to prevent [contracting the virus] and getting ready to have products in place by building inventory, should consumers, customers and communities need it,” he said in a “Mad Money” interview.

The comments come one day after Clorox reported quarterly results where the company’s top-line numbers were in line with Wall Street estimates and the bottom line topped expectations. Executives said on the conference call that concerns about the novel coronavirus and flu season did not play a role in the quarter ended December.

“What I can tell you is that we’re leaning into inventory to be ready, just in case,” Dorer explained in the interview. “We are known to be more agile, now, in terms of our ability to build inventory, and we’re going to be ready to do that. But like I said it’s hard right now to speculate where this will go because it’s so rapidly evolving, but at this point we’re not seeing any inventory risk at all.”

The coronavirus, which originated in late 2019 in the Chinese city of Wuhan, has shaken up global markets as the flu-like disease spreads worldwide. As of Wednesday afternoon, more than 27,000 cases and 560 deaths have been recorded worldwide, though a large percent of those affected are in China.

U.S. health officials have confirmed a dozen cases in the U.S. from coast to coast. Five people were tested for the disease in New York City earlier Wednesday.

Because a remedy for the disease has yet to be developed, consumers are expected to load up on disinfecting wipes, sprays and bleach in efforts to kill germs.

An increase in demand “would certainly add meaningful value to our investors — the top line and the bottom line — except that though what we will never do is try to benefit from fears or concerns that consumers have,” Dorer said. “We’re here to serve the communities and we’re taking the lead from our customers, communities, from nonprofit organizations, which we have started to reach out with, and importantly from health organizations like the EPA [U.S. Environmental Protection Agency] and the World Health Organization.”

Clorox reported fiscal second-quarter revenue of $1.43 billion and $1.46 in earnings per share, which beat analyst expectations by 15 cents. The company said it expects that its gross margin will continue to widen this year. Revenue fell 1.5% from the year prior, according to FactSet.

Clorox’s revenue is projected to grow in the current quarter.

The stock is up 6% to $165.34 since the company reported.


Company: cnbc, Activity: cnbc, Date: 2020-02-05  Authors: tyler clifford
Keywords: news, cnbc, companies, line, sales, consumers, clorox, coronavirus, outbreak, impact, inventory, dorer, revenue, seeing, disease, health, reported, ready, ceo


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Supply of homes for sale hits record low, and prices suddenly jump

A worker stands on the roof of a home under construction at a new housing development in San Rafael, California. Sales of existing homes rose a steeper-than-expected 3.5% in December compared with January, according to the National Association of Realtors. That demand has pushed the supply of homes for sale down 8.5% annually to the lowest level since the Realtors began tracking inventory in 1982. At the current sales pace, the total supply would sell out in just three months. A six months’ supp


A worker stands on the roof of a home under construction at a new housing development in San Rafael, California.
Sales of existing homes rose a steeper-than-expected 3.5% in December compared with January, according to the National Association of Realtors.
That demand has pushed the supply of homes for sale down 8.5% annually to the lowest level since the Realtors began tracking inventory in 1982.
At the current sales pace, the total supply would sell out in just three months.
A six months’ supp
Supply of homes for sale hits record low, and prices suddenly jump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, sale, inventory, record, months, jump, worsesales, low, worker, prices, suddenly, homes, yearsthat, hits, supply, pace, tracking, trolling


Supply of homes for sale hits record low, and prices suddenly jump

A worker stands on the roof of a home under construction at a new housing development in San Rafael, California.

Buyers are trolling the nation’s neighborhoods looking for homes at the fastest pace in nearly two years, making an already critical shortage of inventory even worse.

Sales of existing homes rose a steeper-than-expected 3.5% in December compared with January, according to the National Association of Realtors.

Demand is surging because mortgage rates are about a full percentage point lower than they were a year ago, and the largest generation, millennials, are aging into their homebuying years.

That demand has pushed the supply of homes for sale down 8.5% annually to the lowest level since the Realtors began tracking inventory in 1982.

At the current sales pace, the total supply would sell out in just three months. A six months’ supply is considered a balanced market.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, sale, inventory, record, months, jump, worsesales, low, worker, prices, suddenly, homes, yearsthat, hits, supply, pace, tracking, trolling


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Google to acquire Irish retail tech start-up Pointy

Google CEO Sundar Pichai speaks during the Google I/O keynote session at Shoreline Amphitheatre in Mountain View, California on May 7, 2019. Alphabet’s Google on Tuesday said it plans to acquire Pointy, an Irish retail start-up that helps traditional brick and mortar retailers list inventory online, for an undisclosed amount. “Over the past several years we’ve developed a very close partnership with Google,” Pointy founders Marks Cummins and Charles Bibby said in a release. “It became clear that


Google CEO Sundar Pichai speaks during the Google I/O keynote session at Shoreline Amphitheatre in Mountain View, California on May 7, 2019.
Alphabet’s Google on Tuesday said it plans to acquire Pointy, an Irish retail start-up that helps traditional brick and mortar retailers list inventory online, for an undisclosed amount.
“Over the past several years we’ve developed a very close partnership with Google,” Pointy founders Marks Cummins and Charles Bibby said in a release.
“It became clear that
Google to acquire Irish retail tech start-up Pointy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, pointy, founders, retail, local, store, tech, inventory, close, google, online, irish, acquire, startup, retailers


Google to acquire Irish retail tech start-up Pointy

Google CEO Sundar Pichai speaks during the Google I/O keynote session at Shoreline Amphitheatre in Mountain View, California on May 7, 2019.

Alphabet’s Google on Tuesday said it plans to acquire Pointy, an Irish retail start-up that helps traditional brick and mortar retailers list inventory online, for an undisclosed amount.

The deal is expected to close in the coming weeks, Google said in a press release.

Retailers use Pointy’s software to automatically track store inventory. That information is then displayed on Google’s “see what’s in store” section, and on a Pointy page, so customers can find specific items that are in-stock near them.

“Over the past several years we’ve developed a very close partnership with Google,” Pointy founders Marks Cummins and Charles Bibby said in a release. “It became clear that we shared the same vision of how technology can improve local retail businesses.”

Pointy has raised $19 million so far in venture capital, the company disclosed in July 2018.

“By joining forces, we will be able to help people discover local stores and products on a much larger scale,” the Pointy founders wrote. “We think this is the right way to accomplish what we set out to do – to bring the world’s retailers online and give them the tools they need to thrive.”


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, pointy, founders, retail, local, store, tech, inventory, close, google, online, irish, acquire, startup, retailers


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Sales of Manhattan’s priciest apartments plunge almost 40% in fourth quarter

(Photo by Gary Hershorn/Getty Images)Real estate sales in Manhattan have fallen eight out of the past nine quarters, according to a report from real estate brokerage firm Douglas Elliman and appraiser Miller Samuel. The average sales price fell 7.5% to $1.8 million in the fourth quarter of 2019 and the median sales price fell below $1 million. Total sales were down, discounts were up and there is now an eight-month supply of unsold apartments. The slow bleed in Manhattan real estate comes despit


(Photo by Gary Hershorn/Getty Images)Real estate sales in Manhattan have fallen eight out of the past nine quarters, according to a report from real estate brokerage firm Douglas Elliman and appraiser Miller Samuel.
The average sales price fell 7.5% to $1.8 million in the fourth quarter of 2019 and the median sales price fell below $1 million.
Total sales were down, discounts were up and there is now an eight-month supply of unsold apartments.
The slow bleed in Manhattan real estate comes despit
Sales of Manhattan’s priciest apartments plunge almost 40% in fourth quarter Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-03  Authors: robert frank
Keywords: news, cnbc, companies, estate, real, say, manhattans, sales, apartments, quarter, plunge, inventory, market, fourth, priciest, tax, supply


Sales of Manhattan's priciest apartments plunge almost 40% in fourth quarter

The view north to Central Park Tower and 111 West 57th Street on Billionaires Row from the 86th-floor observation deck at the Empire State Building on July 28, 2019, in New York City. (Photo by Gary Hershorn/Getty Images)

Real estate sales in Manhattan have fallen eight out of the past nine quarters, according to a report from real estate brokerage firm Douglas Elliman and appraiser Miller Samuel.

The average sales price fell 7.5% to $1.8 million in the fourth quarter of 2019 and the median sales price fell below $1 million. Total sales were down, discounts were up and there is now an eight-month supply of unsold apartments.

While many brokers say they’re optimistic about a potential turnaround in 2020, real estate experts say they expect a continued — though perhaps slower — decline this year as tax pressures and rising inventory keep buyers on the sidelines.

“I think we’ll see more of the same,” said Jonathan Miller, CEO of Miller Samuel. “The problem with saying that 2020 will mark the bottom is that it suggests it will go up after that. And I think we still have another couple of years of moving sideways.”

The slow bleed in Manhattan real estate comes despite a strong economy and record-high stock market.

A new mansion tax on multimillion-dollar apartments, the new federal cap on state and local tax deductions, which makes high-tax states like New York more expensive, and a lack of foreign buyers has continued to weigh on demand. Add to that an oversupply of luxury apartments, with another 2,000 new condos coming onto the market this year, and buyers are shifting rapidly to the rental market, especially on the high end.

Sales of apartments priced at $5 million or more plunged 38% in the quarter and there is now a two-year supply of luxury apartments on the market. Beyond the official inventory, brokers say there is a mountain of “shadow inventory” — or apartments that aren’t officially listed but are waiting for market conditions to improve and sales to clear before they list.

According to Halstead Development Marketing, there is a now a six-year supply of new development apartments. The biggest glut is on “Billionaire’s Row” — the string of super-towers along 57th Street, where there is more than $9 billion in shadow inventory waiting to list.

Halstead said the dollar value of closings in the fourth quarter was down 27% from last year.


Company: cnbc, Activity: cnbc, Date: 2020-01-03  Authors: robert frank
Keywords: news, cnbc, companies, estate, real, say, manhattans, sales, apartments, quarter, plunge, inventory, market, fourth, priciest, tax, supply


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Oil settles slightly lower after smaller-than-expected US inventory decline

Oil prices steadied on Wednesday after U.S. government data showed a decline in crude inventories and on expectations for an uptick in demand next year on the back of progress in resolving the U.S.-China trade fight. Gasoline and distillate inventories grew last week by 2.5 million barrels to 237.3 million barrels, and 1.5 million barrels to 125.1 million barrels, respectively, EIA said. API figures released showed U.S. crude inventories swelling by 4.7 million barrels last week to 452 million b


Oil prices steadied on Wednesday after U.S. government data showed a decline in crude inventories and on expectations for an uptick in demand next year on the back of progress in resolving the U.S.-China trade fight.
Gasoline and distillate inventories grew last week by 2.5 million barrels to 237.3 million barrels, and 1.5 million barrels to 125.1 million barrels, respectively, EIA said.
API figures released showed U.S. crude inventories swelling by 4.7 million barrels last week to 452 million b
Oil settles slightly lower after smaller-than-expected US inventory decline Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-18
Keywords: news, cnbc, companies, expectations, barrels, lower, slightly, oil, inventory, settles, smallerthanexpected, week, crude, decline, inventories, trade, prices, uschina, million


Oil settles slightly lower after smaller-than-expected US inventory decline

Azeri oil workers operate a large field of drilling rigs on October 12, 2003 outside the capital city of Baku, Azerbaijan.

Oil prices steadied on Wednesday after U.S. government data showed a decline in crude inventories and on expectations for an uptick in demand next year on the back of progress in resolving the U.S.-China trade fight.

Brent futures gained 12 cents to trade at $66.22 a barrel, while U.S. West Texas Intermediate lost 1 cent to settle at $60.93.

U.S. crude fell by 1.1 million barrels in the week to Dec. 13 to 446.8 million barrels, compared with analysts’ expectations in a Reuters poll for a 1.3 million-barrel drop, the Energy Information Administration said.

Gasoline and distillate inventories grew last week by 2.5 million barrels to 237.3 million barrels, and 1.5 million barrels to 125.1 million barrels, respectively, EIA said.

Oil pared losses after the data, which contradicted Tuesday’s report of a build in U.S. crude stockpiles from industry group American Petroleum Institute (API). API figures released showed U.S. crude inventories swelling by 4.7 million barrels last week to 452 million barrels, sparking a post-settlement sell-off in oil futures.

“The market reaction was abruptly stronger due to the fact that we were so far away from industry estimations in the way of a net build,” said Tony Headrick, an energy markets analyst at CHS Hedging.

“The upward trend from optimistic demand expectations such as from recent developments like U.S.-China trade deal has the ability to stay in tact after these figures,” Headrick said.

Prices had risen more than 1% in the previous session after the announcement last week of the so-called Phase 1 U.S.-China trade deal, which lifted global economic prospects and improved the outlook for energy demand.

Deeper production cuts coming from the Organization of the Petroleum Exporting Countries and its allies, such as Russia, which make up a group known as OPEC+, continued to offer some support and prevented a further slide in prices.

OPEC+, which has cut production by 1.2 million barrels per day (bpd) since Jan. 1 this year, will make a further cut of 500,000 bpd from Jan. 1 to support the market.

RBC Capital Markets said prices could stagnate if trade progress did not translate into concrete economic growth.

“Economic green shoots will help sentiment”, the bank wrote. “But broad macro worries, oil demand softness and pent up producer hedging may continue to serve as near term headwinds for oil prices.”


Company: cnbc, Activity: cnbc, Date: 2019-12-18
Keywords: news, cnbc, companies, expectations, barrels, lower, slightly, oil, inventory, settles, smallerthanexpected, week, crude, decline, inventories, trade, prices, uschina, million


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Amazon and Google use A.I. to cut down on billions of pounds of excess inventory destroyed each year

Every year, Amazon and other retailers end up with billions of pounds of excess, unsold inventory that they send straight to landfills. Overall, returned goods create more than 5 billion pounds of waste in U.S. landfills each year. That number is going up as more customers shop online, where the rate of returns is 25%, compared to just 9% for in-store purchases. Now, Amazon and major retailers are doing something about it. Watch the video to see how Google, Amazon and others are using artificial


Every year, Amazon and other retailers end up with billions of pounds of excess, unsold inventory that they send straight to landfills.
Overall, returned goods create more than 5 billion pounds of waste in U.S. landfills each year.
That number is going up as more customers shop online, where the rate of returns is 25%, compared to just 9% for in-store purchases.
Now, Amazon and major retailers are doing something about it.
Watch the video to see how Google, Amazon and others are using artificial
Amazon and Google use A.I. to cut down on billions of pounds of excess inventory destroyed each year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-14  Authors: katie schoolov
Keywords: news, cnbc, companies, billions, unsold, using, amazon, cut, wasted, excess, waste, inventory, video, google, destroyed, retailers, pounds, landfills


Amazon and Google use A.I. to cut down on billions of pounds of excess inventory destroyed each year

Every year, Amazon and other retailers end up with billions of pounds of excess, unsold inventory that they send straight to landfills. Up to 20% of clothing goes unsold and is often incinerated. Overall, returned goods create more than 5 billion pounds of waste in U.S. landfills each year. That number is going up as more customers shop online, where the rate of returns is 25%, compared to just 9% for in-store purchases. Now, Amazon and major retailers are doing something about it.

Watch the video to see how Google, Amazon and others are using artificial intelligence and automation to cut back on the wasted inventory clogging our landfills and polluting the planet.


Company: cnbc, Activity: cnbc, Date: 2019-12-14  Authors: katie schoolov
Keywords: news, cnbc, companies, billions, unsold, using, amazon, cut, wasted, excess, waste, inventory, video, google, destroyed, retailers, pounds, landfills


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How Amazon and Google use AI to destroy less excess inventory

Amazon and Google use A.I. to cut down on billions of pounds of excess inventory destroyed each yearReturned goods account for 5 billion pounds of waste in U.S. landfills each year and that number is growing with the rise of e-commerce. Amazon, Google, and other tech and retail companies are trying to cut back on the waste by increasing donations and using data and artificial intelligence.


Amazon and Google use A.I.
to cut down on billions of pounds of excess inventory destroyed each yearReturned goods account for 5 billion pounds of waste in U.S. landfills each year and that number is growing with the rise of e-commerce.
Amazon, Google, and other tech and retail companies are trying to cut back on the waste by increasing donations and using data and artificial intelligence.
How Amazon and Google use AI to destroy less excess inventory Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-14
Keywords: news, cnbc, companies, google, trying, cut, tech, rise, destroy, amazon, pounds, yearreturned, using, waste, excess, inventory


How Amazon and Google use AI to destroy less excess inventory

Amazon and Google use A.I. to cut down on billions of pounds of excess inventory destroyed each year

Returned goods account for 5 billion pounds of waste in U.S. landfills each year and that number is growing with the rise of e-commerce. Amazon, Google, and other tech and retail companies are trying to cut back on the waste by increasing donations and using data and artificial intelligence.


Company: cnbc, Activity: cnbc, Date: 2019-12-14
Keywords: news, cnbc, companies, google, trying, cut, tech, rise, destroy, amazon, pounds, yearreturned, using, waste, excess, inventory


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The new Canada Goose Toronto store doesn’t have inventory, but it does have a daily snowstorm

Jackets and parkas hang on display at the new Canada Goose Holdings Inc. store in Montreal, Quebec, Canada, on Thursday, Nov. 15, 2018. In today’s retail world, “experience” is the keystone for retail and Canada Goose is taking it literally at its latest Toronto concept location. Although located in the CF Sherway Gardens Mall, the Canada Goose store has no inventory for shoppers to take home. While Canada Goose has other “Cold Rooms” where Arctic conditions are simulated, it will snow daily in


Jackets and parkas hang on display at the new Canada Goose Holdings Inc. store in Montreal, Quebec, Canada, on Thursday, Nov. 15, 2018.
In today’s retail world, “experience” is the keystone for retail and Canada Goose is taking it literally at its latest Toronto concept location.
Although located in the CF Sherway Gardens Mall, the Canada Goose store has no inventory for shoppers to take home.
While Canada Goose has other “Cold Rooms” where Arctic conditions are simulated, it will snow daily in
The new Canada Goose Toronto store doesn’t have inventory, but it does have a daily snowstorm Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: courtney reagan
Keywords: news, cnbc, companies, toronto, store, inventory, does, daily, gooses, growth, room, cold, snowstorm, canada, quarter, doesnt, retail, brand, goose


The new Canada Goose Toronto store doesn't have inventory, but it does have a daily snowstorm

Jackets and parkas hang on display at the new Canada Goose Holdings Inc. store in Montreal, Quebec, Canada, on Thursday, Nov. 15, 2018. Canada Goose is adding frigid rooms to some of its stores where shoppers can test the luxury coats in temperatures as low as -25 degrees Celsius (-13 Fahrenheit). Christinne Muschi | Bloomberg | Getty Images

Luxury brands have long leaned on brand history, and the storytelling that surrounds it, to sell the image and associated pricey merchandise. In today’s retail world, “experience” is the keystone for retail and Canada Goose is taking it literally at its latest Toronto concept location. Although located in the CF Sherway Gardens Mall, the Canada Goose store has no inventory for shoppers to take home. Instead, the coatmaker wants consumers to have a multisensory experience to feel why the outerwear is worth the price tag, which can top $1,000. It’s called “The Journey.”

Here’s what it’s like

The entrance to the concept store is called “The Crevasse.” There are digital displays of rock faces on both entryway walls and OLED panels under glass flooring that simulate cracking ice as consumers walk forward. There’s an accompanying soundtrack pumping out the sounds of the Arctic. There’s an “Elements Room,” with two curved walls — one 60 feet wide and one 30 feet wide — that play seasonal nature films shot in British Columbia from 4K laser projections in the ceiling. In the middle of the room, mannequins wear merchandise that complement the season. The “Gear Room” is where consumers will store their personal belongings and select a Canada Goose coat and accessories to try out in the “Cold Room.” There’s a quick explanation by brand ambassadors of the cold room and Canada Goose’s “Thermal Experience Index,” which is a rating scale for its outerwear based on the temperature range for which it’s best suited. While Canada Goose has other “Cold Rooms” where Arctic conditions are simulated, it will snow daily in the new Toronto experience. The brand says that’s a first for North America. When consumers enter the room, it’s dark and cold, 10 degrees Fahrenheit (-12 degrees Celsius). The walls are projection screens with original films about the cold and nature, narrated by Lance Mackey, an Iditarod champion, and Sarain Fox, an artist and indigenous activist from the Anishinaabe nation. After leaving the “Cold Room” consumers will head to the retail area, where brand ambassadors are available to answer questions and help navigate through the product inventory, digitally on kiosks. If “The Journey” did its job, shoppers will leave empty-handed, but filled with the anticipation that a new coat or accessory will arrive at their home that night, or the next day, if purchased after 2 p.m.

Canada Goose’s growth story

Canada Goose is more than 60 years old, and continues to make its coats in the country of origin, because, as the company says “cold weather is part of our national identity.” “The Journey” store is part of Canada Goose’s growing retail business segment, which includes its own stores and website, and accounts for around a quarter of its total revenue. In its fiscal second quarter ended Sept. 29, revenue from its retail operations grew 47%, while revenue from its wholesale business, or sales of its brand through other retail partners, grew 22%. Profit was also stronger than expected. Despite topping analysts’ forecasts, Canada Goose shares took a hit as the premium coatmaker merely reiterated its forecast, suggesting the current quarter would fall short of previous expectations. Demand for the pricey outerwear from wholesale partners led the brand to send inventory earlier. While strong demand is good, Canada Goose said the result boosted its second-quarter results, but the timing shift could hurt its current quarter’s wholesale results. The current quarter, Canada Goose’s fiscal third, represents more than 40% of its annual revenue. In a note to clients, Susquehanna analyst Sam Poser wrote “while [Canada Goose] management excels as operators, poor communication with the Street is weighing on the stock.” He added, the guidance is “very conservative” and he expects “significant upside potential” as the brand “remains one of the few true growth stories in the consumer discretionary sector.” Shares of Canada Goose are up 120% since it went public in March 2017, but are 45% below an all-time high hit in November 2018. China is a key growth area for Canada Goose, with its business there nearly doubling in the most recent quarter. However, the continued unrest in Hong Kong has pressured local sales. On its earnings call, Chief Financial Officer Jonathan Sinclair said the brand is “being very prudent” with decisions in the region, including exploring “accommodations with our landlords and service providers alike.” Cowen & Co. analyst Oliver Chen noted protests in Hong Kong add uncertainty to Canada Goose’s performance there, and the key holiday quarter marks the anniversary of previous important store openings, making it a harder year-over- year comparison to beat. Still, the firm recently reiterated its outperform rating on the stock, citing for its call the “continued belief” that Canada Goose’s strong brand following, expanding assortment and geographic expansion beyond North America can drive 20% earnings growth over the medium term. Meantime, Wells Fargo analyst Ike Boruchow is less confident in the growth story, writing in a recent note to investors “until we see signs of greater stability at wholesale we will remain sidelined” with regard to an investment recommendation.

Desirable or despicable?


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: courtney reagan
Keywords: news, cnbc, companies, toronto, store, inventory, does, daily, gooses, growth, room, cold, snowstorm, canada, quarter, doesnt, retail, brand, goose


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Pending home sales fall 1.7% in October, as housing shortage worsens

Pending home sales, which measure signed contracts, fell 1.7% in October month-to-month, according to the National Association of Realtors. Sales were 4.4% higher annually, likely because mortgage rates are much lower this fall. Lower rates overall this year have juiced demand significantly, causing for-sale inventory to fall. In the Midwest sales fell 2.7% monthly but were 1.8% higher annually. In the West, pending home sales fell 3.4% for the month but were 7.5% higher than October 2018.


Pending home sales, which measure signed contracts, fell 1.7% in October month-to-month, according to the National Association of Realtors.
Sales were 4.4% higher annually, likely because mortgage rates are much lower this fall.
Lower rates overall this year have juiced demand significantly, causing for-sale inventory to fall.
In the Midwest sales fell 2.7% monthly but were 1.8% higher annually.
In the West, pending home sales fell 3.4% for the month but were 7.5% higher than October 2018.
Pending home sales fall 1.7% in October, as housing shortage worsens Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, rates, fell, pending, lower, worsens, homes, higher, monthly, shortage, fall, housing, sales, inventory


Pending home sales fall 1.7% in October, as housing shortage worsens

Demand for housing is high, but there aren’t enough homes for sale to meet it.

Pending home sales, which measure signed contracts, fell 1.7% in October month-to-month, according to the National Association of Realtors. Sales were 4.4% higher annually, likely because mortgage rates are much lower this fall.

The average rate on the 30-year fixed mortgage was about a full percentage point lower this October than it was a year ago. Rates did move slightly higher in October, which could account for some of the monthly drop, but a shortage of homes for sale is more of the culprit. Lower rates overall this year have juiced demand significantly, causing for-sale inventory to fall. Inventory had been rising at the start of this year, due to last year’s rate spike.

“We still need to address and, more importantly, correct inadequate levels of inventory across the country,” said Lawrence Yun, chief economist at the NAR. “There is no shortage of buyers seeking homes, but a lack of available units continues to drag down the nation’s housing market and overall economy.”

Sales of newly built homes, which are also measured by signed contracts, were significantly higher in October compared with a year October 2018. Builders are seeing strong demand and are trying to shift production to more affordable homes. Housing starts are still not where they need to be, however, to meet demand.

“We risk a lingering shortage of sufficient inventory if homebuilding only continues at its current pace over the next 20 years, when the U.S. population is projected to increase by more than 40 million over this period. Clearly, home builders must step in and construct more housing,” added Yun.

Regionally, pending home sales in the Northeast rose 1.9% for the month and were 3% higher annually. In the Midwest sales fell 2.7% monthly but were 1.8% higher annually. Sales in the South decreased 1.7% monthly but were up 5.1% from a year ago. In the West, pending home sales fell 3.4% for the month but were 7.5% higher than October 2018.


Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, rates, fell, pending, lower, worsens, homes, higher, monthly, shortage, fall, housing, sales, inventory


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