European stocks climb as China’s GDP grows as expected; Stoxx 600 hits record high; Casino down 12%

European stocks advanced on Friday after China’s GDP (gross domestic product) numbers grew in line with expectations, lifting global markets. The pan-European Stoxx 600 added 0.7% in early trade to reach a fresh record high, basic resources jumping 1.2% to lead gains as all sectors and major bourses traded in positive territory. Markets in Asia rose on Friday in response to the figures, with Hong Kong’s Hang Seng index adding 0.5% to lead gains. A strong handover from Wall Street, which saw the


European stocks advanced on Friday after China’s GDP (gross domestic product) numbers grew in line with expectations, lifting global markets.
The pan-European Stoxx 600 added 0.7% in early trade to reach a fresh record high, basic resources jumping 1.2% to lead gains as all sectors and major bourses traded in positive territory.
Markets in Asia rose on Friday in response to the figures, with Hong Kong’s Hang Seng index adding 0.5% to lead gains.
A strong handover from Wall Street, which saw the
European stocks climb as China’s GDP grows as expected; Stoxx 600 hits record high; Casino down 12% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: elliot smith
Keywords: news, cnbc, companies, grew, trade, sales, high, stoxx, climb, hong, european, major, lead, strong, hits, positive, gdp, expected, record, stocks, grows, richemont


European stocks climb as China's GDP grows as expected; Stoxx 600 hits record high; Casino down 12%

European stocks advanced on Friday after China’s GDP (gross domestic product) numbers grew in line with expectations, lifting global markets.

The pan-European Stoxx 600 added 0.7% in early trade to reach a fresh record high, basic resources jumping 1.2% to lead gains as all sectors and major bourses traded in positive territory.

The world’s second-largest economy grew by 6.1% in 2019, its slowest in 29 years but meeting analyst expectations even amid the protracted trade war with the U.S., which reached a truce this week after Washington and Beijing signed an initial “phase one” trade deal.

Markets in Asia rose on Friday in response to the figures, with Hong Kong’s Hang Seng index adding 0.5% to lead gains. A strong handover from Wall Street, which saw the S&P 500 hit record highs on Thursday following a host of strong earnings reports from major banks, also offered positive momentum.

In corporate news, Swiss luxury goods giant Richemont on Friday reported a slowdown in sales growth as political unrest in Hong Kong weighed on its fourth-quarter turnover. Richemont shares climbed 4.9% in early trade.

Volkswagen CEO Herbert Diess said on Thursday that the German carmaker must accelerate urgent reforms to its business in order to avoid the same fate as Nokia, which relinquished its handset market dominance to Apple, Reuters reported.

Investors will also be monitoring key December inflation data and November construction output figures out of the euro area, due at 10 a.m. London time on Friday. U.K. retail sales are due at 9:30 a.m.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: elliot smith
Keywords: news, cnbc, companies, grew, trade, sales, high, stoxx, climb, hong, european, major, lead, strong, hits, positive, gdp, expected, record, stocks, grows, richemont


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DoorDash takes the lead in the food delivery wars as the landscape dramatically shifts in 2019

Doordash captured a third of all digital food delivery sales in the U.S. market last year, Second Measure said. DoorDash’s rapid growth in 2019 allowed it to edge past Grubhub to become the leader in digital food delivery, according to data from analytics firm Second Measure. Digital food delivery is projected to grow into a $467 billion business over the next five years, a 31% increase, according to Morgan Stanley. But companies in the digital delivery industry have to contend with thin margins


Doordash captured a third of all digital food delivery sales in the U.S. market last year, Second Measure said.
DoorDash’s rapid growth in 2019 allowed it to edge past Grubhub to become the leader in digital food delivery, according to data from analytics firm Second Measure.
Digital food delivery is projected to grow into a $467 billion business over the next five years, a 31% increase, according to Morgan Stanley.
But companies in the digital delivery industry have to contend with thin margins
DoorDash takes the lead in the food delivery wars as the landscape dramatically shifts in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: frank holland jr reed, frank holland, jr reed
Keywords: news, cnbc, companies, growth, wars, delivery, sales, grubhub, industry, similar, landscape, lead, 2019, digital, food, second, takes, shifts, doordash, according, dramatically


DoorDash takes the lead in the food delivery wars as the landscape dramatically shifts in 2019

Doordash captured a third of all digital food delivery sales in the U.S. market last year, Second Measure said. That put it on top of Grubhub , which had 32% of sales in the category. Uber Eats followed with a 20% share, and was trailed by Postmates, with 10%.

DoorDash’s rapid growth in 2019 allowed it to edge past Grubhub to become the leader in digital food delivery, according to data from analytics firm Second Measure.

Doordash saw its sales grow by 143% year over year, creating a dramatic shift in the landscape from 2018, when GrubHub was the leader, with 43% of the market.

Digital food delivery is projected to grow into a $467 billion business over the next five years, a 31% increase, according to Morgan Stanley. But companies in the digital delivery industry have to contend with thin margins and a sometimes rocky path to profitability.

While digital delivery sales overall have increased at a double-digit pace in each of the past five years, according to data from the NPD Group, the growth of the average check has fallen sharply from more than 4% in 2015 to zero growth in 2019.

The use of aggregator sites for food delivery could also impact the future of the industry. FoodBoss, for example, is a site that allows users to compare the price and speed of digital delivery services for the restaurant of their choice, similar to aggregators in the travel industry like Expedia and Trivago. Google Maps now also offers similar functions.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: frank holland jr reed, frank holland, jr reed
Keywords: news, cnbc, companies, growth, wars, delivery, sales, grubhub, industry, similar, landscape, lead, 2019, digital, food, second, takes, shifts, doordash, according, dramatically


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The pickup truck indicator shows the economy is strong

Looking at sales from pickup trucks as a proxy for the health of small businesses in the U.S., DataTrek Research found that 2019 ended on a strong note, and that sales show “little sign of turning lower as we start the new decade.” The firm says this data gives a read on the economy since it encapsulates everyone from an “oil field service company” to the “local arborist,” and is typically a discretionary purchase. “Purchasing a new vehicle is entirely discretionary; they can always fix the old


Looking at sales from pickup trucks as a proxy for the health of small businesses in the U.S., DataTrek Research found that 2019 ended on a strong note, and that sales show “little sign of turning lower as we start the new decade.”
The firm says this data gives a read on the economy since it encapsulates everyone from an “oil field service company” to the “local arborist,” and is typically a discretionary purchase.
“Purchasing a new vehicle is entirely discretionary; they can always fix the old
The pickup truck indicator shows the economy is strong Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: pippa stevens
Keywords: news, cnbc, companies, pickup, economy, shows, datatrek, strong, sales, trucks, discretionary, research, data, vehicle, truck, worried, firm, businesses, indicator


The pickup truck indicator shows the economy is strong

Looking at sales from pickup trucks as a proxy for the health of small businesses in the U.S., DataTrek Research found that 2019 ended on a strong note, and that sales show “little sign of turning lower as we start the new decade.”

The firm says this data gives a read on the economy since it encapsulates everyone from an “oil field service company” to the “local arborist,” and is typically a discretionary purchase.

“Purchasing a new vehicle is entirely discretionary; they can always fix the old one and keep it running another year if they are worried about business conditions,” Nicholas Colas, co-founder of DataTrek Research said.

The firm has been analyzing sales data since the 1990s, which includes some of America’s most popular cars like the Ford F-Series, Dodge Ram and Chevy Silverado. These trucks are primarily bought for businesses, rather than for individual uses, the firm said.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: pippa stevens
Keywords: news, cnbc, companies, pickup, economy, shows, datatrek, strong, sales, trucks, discretionary, research, data, vehicle, truck, worried, firm, businesses, indicator


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Restaurants take aim at improving manager turnover rates

Red Robin and Taco Bell are both addressing manager turnover by improving compensation. Red Robin’s turnover rates for managers and general managers fall below the industry average, according to its investor presentation at the ICR Conference on Tuesday. But the casual dining chain is still looking for ways to get general managers to stick around even longer. Earlier in the week, Red Robin said it expects same-store sales to rise 1.3% in its fourth quarter, but customer counts fell 3.4%. Red Rob


Red Robin and Taco Bell are both addressing manager turnover by improving compensation.
Red Robin’s turnover rates for managers and general managers fall below the industry average, according to its investor presentation at the ICR Conference on Tuesday.
But the casual dining chain is still looking for ways to get general managers to stick around even longer.
Earlier in the week, Red Robin said it expects same-store sales to rise 1.3% in its fourth quarter, but customer counts fell 3.4%.
Red Rob
Restaurants take aim at improving manager turnover rates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: amelia lucas
Keywords: news, cnbc, companies, rates, turnover, manager, aim, managers, market, taco, restaurants, general, restaurant, sales, week, robin, improving, red


Restaurants take aim at improving manager turnover rates

Shake Shack, Red Robin Gourmet Burgers and Yum Brands’ Taco Bell are among the restaurant chains getting creative to keep their managers sticking around longer.

The restaurant industry has long struggled with high turnover rates, caused in part by low pay and a workforce that skews younger. In 2018, turnover rates in the hospitality sector surpassed 70% for the fourth year in a row, according to data from the Bureau of Labor Statistics.

Even among managers, who are more highly paid, restaurants have had a difficult time filling jobs in a tight labor market as employers are competing for a shrinking pool of potential employees.

“In this labor market, the investment of training and development of staff is definitely viewed much more as an investment versus an expense,” said Hudson Riehle, senior vice president of the National Restaurant Association’s research and knowledge group.

Red Robin and Taco Bell are both addressing manager turnover by improving compensation. Taco Bell announced last week that it would test $100,000 annual salaries for general managers at select company-owned stores later in 2020.

Red Robin’s turnover rates for managers and general managers fall below the industry average, according to its investor presentation at the ICR Conference on Tuesday. But the casual dining chain is still looking for ways to get general managers to stick around even longer.

“The research is pretty clear that the higher the tenure of the staff person is, the higher the sales per square foot in that establishment,” Riehle said.

In 2020, Red Robin is changing its compensation program so the sales volume of the restaurant location no longer factors into general managers’ bonuses.

“GM tenure in the restaurant profoundly impacts operating metrics, people metrics and also the financial metrics,” Red Robin CEO Paul Murphy said at the conference.

Murphy joined Red Robin in October, and is embarking on an effort to turn around sales. Earlier in the week, Red Robin said it expects same-store sales to rise 1.3% in its fourth quarter, but customer counts fell 3.4%.

Red Robin shares have a market value of $459 million and have risen more than 9% in the past 12 months.

Shake Shack is taking a different approach. The burger chain started testing a four-day work week for managers in early 2019. CEO Randy Garutti said at the ICR Conference that the shorter work week is now in place at about a third of locations.

“It’s been an incredible competitive advantage for us to learn more about this,” Garutti said. “We’re not sure if it will roll out everywhere. We’re taking our time, listening and learning so many new things.”

Yum shares are valued at $30.8 billion and have gained 13% over the past year, while Shake Shack has a market value of $2.6 billion, and has gain 50% over the past year.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: amelia lucas
Keywords: news, cnbc, companies, rates, turnover, manager, aim, managers, market, taco, restaurants, general, restaurant, sales, week, robin, improving, red


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Everything Jim Cramer said about the stock market on ‘Mad Money,’ including climate change, Microsoft sustainability, GW Pharma CBD sales

The “Mad Money” host sat down with the CEO and CFO of Microsoft to get a deeper look in to the software giant’s ambitious sustainability plan. Later in the show he got insight into CBD medicine sales with the head of British pharmaceutical company GW Pharmaceuticals. Cramer is bullish on Microsoft’s ambitious sustainability plansSatya Nadella, chief executive officer of Microsoft Corp., speaks during a climate initiative event at the Microsoft Corp. campus in Redmond, Washington, U.S., on Thursd


The “Mad Money” host sat down with the CEO and CFO of Microsoft to get a deeper look in to the software giant’s ambitious sustainability plan.
Later in the show he got insight into CBD medicine sales with the head of British pharmaceutical company GW Pharmaceuticals.
Cramer is bullish on Microsoft’s ambitious sustainability plansSatya Nadella, chief executive officer of Microsoft Corp., speaks during a climate initiative event at the Microsoft Corp. campus in Redmond, Washington, U.S., on Thursd
Everything Jim Cramer said about the stock market on ‘Mad Money,’ including climate change, Microsoft sustainability, GW Pharma CBD sales Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: tyler clifford
Keywords: news, cnbc, companies, ambitious, including, company, medicine, sales, market, think, cramer, plan, microsoft, sustainability, pharma, corp, mad, stock, jim, money


Everything Jim Cramer said about the stock market on 'Mad Money,' including climate change, Microsoft sustainability, GW Pharma CBD sales

CNBC’s Jim Cramer stressed why it’s important for American business to become more environmentally conscious. The “Mad Money” host sat down with the CEO and CFO of Microsoft to get a deeper look in to the software giant’s ambitious sustainability plan. Later in the show he got insight into CBD medicine sales with the head of British pharmaceutical company GW Pharmaceuticals.

Cramer is bullish on Microsoft’s ambitious sustainability plans

Satya Nadella, chief executive officer of Microsoft Corp., speaks during a climate initiative event at the Microsoft Corp. campus in Redmond, Washington, U.S., on Thursday, Jan. 16, 2020. David Ryder | Bloomberg | Getty Images

Microsoft is on a mission to become carbon negative in the next decade, and CNBC’s Jim Cramer thinks the ambitious plan has some teeth to it. “I think they can do it because, remember, they are a powerful force — maybe the most powerful, especially when it comes to data centers, of almost any company on Earth,” the “Mad Money” host said about the new imitative. “So I think they can make an impact. I think this is real. This is not greenwash.”

Microsoft gets friendlier with the earth

Satya Nadella, chief executive officer of Microsoft Corp., speaks during a climate initiative event at the Microsoft Corp. campus in Redmond, Washington, U.S., on Thursday, Jan. 16, 2020. David Ryder | Bloomberg | Getty Images

The science is clear that environmental sustainability must factor in a corporation’s growth plans, or the capitalist and economic system the U.S. enjoys “will fundamentally be in jeopardy,” Microsoft CEO Satya Nadella told CNBC. “The corporation’s purpose is to find profitable solutions to the problems of people and planet,” he said in a sit down with Cramer, citing author and University of Oxford business professor Colin Mayer. “‘Profitable’ is the key word, but ‘problems’ is the other key word for people and planet.” The comments came after Microsoft, the world’s largest software company, announced an ambitious green plan intended to eliminate its carbon footprint and remove the amount of carbon it has emitted over the decades.

GW Pharma sells $296 million worth of CBD medicine in 2019

Cannabis leaves sit on plants growing in a greenhouse in the GW Pharmaceuticals Plc facility in Sittingboune, U.K. on Monday, Oct. 29, 2018. Jason Alden | Bloomberg | Getty Images

Preliminary sales figures for the first cannabis-based medicine in the United States are in and they’re telling a bullish story, according to GW Pharmaceuticals CEO Justin Gover. Epidiolex, which contains cannabidiol to treat severe forms of epilepsy, brought in $104 million in net sales in the fourth quarter and a total of $296 million in 2019 across the globe, the British pharmaceutical company preannounced for its quarterly and full-year performances. “It’s an incredible launch year for any medication [that] I think proves that this kind of medicine is really making a difference to patients,” Gover told Cramer in an interview. “It shows real value to the health-care system, and it sets us up, I think, in a very nice way for what should be another great year for us in 2020.”

Cramer’s lightning round


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: tyler clifford
Keywords: news, cnbc, companies, ambitious, including, company, medicine, sales, market, think, cramer, plan, microsoft, sustainability, pharma, corp, mad, stock, jim, money


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Adidas is banking on Beyonce for growth with Ivy Park athleticwear line debut

Adidas is banking on pop icon Beyonce, who’s dominated the airwaves for more than two decades, to do the same for the company with her new adidas x Ivy Park activewear collection, which makes its debut in adidas stores and online at midnight. Beyonce’s Ivy Park collection originally rolled out in 2016 with Topshop, but the singer pulled the line after sexual harassment claims were filed against owner Sir Philip Green. Beyonce fully acquired full control of Ivy Park brand by purchasing back share


Adidas is banking on pop icon Beyonce, who’s dominated the airwaves for more than two decades, to do the same for the company with her new adidas x Ivy Park activewear collection, which makes its debut in adidas stores and online at midnight.
Beyonce’s Ivy Park collection originally rolled out in 2016 with Topshop, but the singer pulled the line after sexual harassment claims were filed against owner Sir Philip Green.
Beyonce fully acquired full control of Ivy Park brand by purchasing back share
Adidas is banking on Beyonce for growth with Ivy Park athleticwear line debut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: jessica golden
Keywords: news, cnbc, companies, banking, sales, makes, ivy, beyonce, yeezy, sole, terms, athleticwear, park, owner, adidas, line, debut, growth


Adidas is banking on Beyonce for growth with Ivy Park athleticwear line debut

Adidas is banking on pop icon Beyonce, who’s dominated the airwaves for more than two decades, to do the same for the company with her new adidas x Ivy Park activewear collection, which makes its debut in adidas stores and online at midnight.

Beyonce’s Ivy Park collection originally rolled out in 2016 with Topshop, but the singer pulled the line after sexual harassment claims were filed against owner Sir Philip Green. Beyonce fully acquired full control of Ivy Park brand by purchasing back shares from Green a year later.

“It’s a dream come true to re-launch IVY PARK as the sole owner,” Beyonce said in a statement. It’s her first collaboration with adidas.

Adidas says the deal, the terms of which weren’t released, makes Beyonce the first black women to be the sole owner of an athleisure brand.

Sneaker brands have increasing been using celebrities of all kinds, not just athletes, to endorse their products in recent years. Kanye West’s Yeezy brand, which launched in February 2015 has been a huge hit for Adidas in terms of both culture and sales. Yeezy sales are estimated to have earned $1.5 billion in 2019 according to Forbes.

Analysts like the deal and think Ivy Park could eventually surpass Yeezy’s sales, but say it could take time to fully develop.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: jessica golden
Keywords: news, cnbc, companies, banking, sales, makes, ivy, beyonce, yeezy, sole, terms, athleticwear, park, owner, adidas, line, debut, growth


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Morgan Stanley says be careful with Walmart after Target’s disappointing holiday sales

A Walmart worker organizes products for Christmas season at a Walmart store in Teterboro, New Jersey. If Target had a tough holiday shopping season, its likely Walmart did too, according to Morgan Stanley. The firm lowered its same-store sales estimates for Walmart’s fourth quarter to 2% from 2.5%, after Target’s disappointing holiday sales results.


A Walmart worker organizes products for Christmas season at a Walmart store in Teterboro, New Jersey.
If Target had a tough holiday shopping season, its likely Walmart did too, according to Morgan Stanley.
The firm lowered its same-store sales estimates for Walmart’s fourth quarter to 2% from 2.5%, after Target’s disappointing holiday sales results.
Morgan Stanley says be careful with Walmart after Target’s disappointing holiday sales Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, walmarts, targets, tough, morgan, stanley, careful, target, holiday, season, walmart, worker, disappointing, teterboro, sales


Morgan Stanley says be careful with Walmart after Target's disappointing holiday sales

A Walmart worker organizes products for Christmas season at a Walmart store in Teterboro, New Jersey.

If Target had a tough holiday shopping season, its likely Walmart did too, according to Morgan Stanley.

The firm lowered its same-store sales estimates for Walmart’s fourth quarter to 2% from 2.5%, after Target’s disappointing holiday sales results.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, walmarts, targets, tough, morgan, stanley, careful, target, holiday, season, walmart, worker, disappointing, teterboro, sales


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Homebuilder optimism slips slightly to start 2020 but is still high

A contractor uses a hammer while working on townhouse under construction at the PulteGroup Metro housing development in Milpitas, California, Oct. 25, 2018. The nation’s single-family homebuilders are feeling very confident about their business in the new year, as high demand and low supply make for a profitable mix. Builders are also starting to pivot more to entry-level homes, after a decade of building mostly move-up product. “With the Federal Reserve on pause and [with] attractive mortgage r


A contractor uses a hammer while working on townhouse under construction at the PulteGroup Metro housing development in Milpitas, California, Oct. 25, 2018.
The nation’s single-family homebuilders are feeling very confident about their business in the new year, as high demand and low supply make for a profitable mix.
Builders are also starting to pivot more to entry-level homes, after a decade of building mostly move-up product.
“With the Federal Reserve on pause and [with] attractive mortgage r
Homebuilder optimism slips slightly to start 2020 but is still high Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, points, singlefamily, slightly, point, 2020, start, optimism, slips, months, builders, construction, sentiment, homebuilder, high, unchanged, rates, sales


Homebuilder optimism slips slightly to start 2020 but is still high

A contractor uses a hammer while working on townhouse under construction at the PulteGroup Metro housing development in Milpitas, California, Oct. 25, 2018.

The nation’s single-family homebuilders are feeling very confident about their business in the new year, as high demand and low supply make for a profitable mix.

Yet, sentiment in January did slip 1 point on the National Association of Home Builders/ Wells Fargo Housing Market Index to 75, but that is considerably higher than last January, when it was 58. Last month’s reading was a 20-year high. Anything above 50 is considered positive.

Low interest rates are making homebuying more affordable, despite the price premium for new construction. Builders are also starting to pivot more to entry-level homes, after a decade of building mostly move-up product. Prices are still rising for new and existing homes, so there may be some friction ahead if affordability worsens.

“With the Federal Reserve on pause and [with] attractive mortgage rates, the steady rise in single-family construction that began last spring will continue into 2020,” said NAHB chief economist Robert Dietz. “However, builders continue to grapple with a shortage of lots and labor while buyers are frustrated by a lack of inventory, particularly among starter homes.”

Of the HMI’s three components, buyer traffic increased 1 point to 58, the highest level since December 2017. Current sales conditions, however, fell 3 points to 81 and sales expectations in the next six months was unchanged at 79.

Regionally, on a three-month moving average, builder confidence in the Northeast rose 1 point to 62, increased 3 points in the Midwest to 66 and in the West it moved 1 point higher to 84. Sentiment in the South was unchanged at 76.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, points, singlefamily, slightly, point, 2020, start, optimism, slips, months, builders, construction, sentiment, homebuilder, high, unchanged, rates, sales


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Procrastinators abounded this Christmas. And more retailers pushed people to stores to pick up online orders

With that, more consumers turned to stores to pick up their last-minute online purchases instead of waiting on packages to arrive in the mail. Overall, Target’s holiday sales underwhelmed. Overall online sales this holiday season were up 14.6%, slightly better than expected, according to the National Retail Federation. Meanwhile, for consumers, buying online and picking up in stores can be viewed as a sustainable choice, as more people are thinking green when they shop. “Because we know that if


With that, more consumers turned to stores to pick up their last-minute online purchases instead of waiting on packages to arrive in the mail.
Overall, Target’s holiday sales underwhelmed.
Overall online sales this holiday season were up 14.6%, slightly better than expected, according to the National Retail Federation.
Meanwhile, for consumers, buying online and picking up in stores can be viewed as a sustainable choice, as more people are thinking green when they shop.
“Because we know that if
Procrastinators abounded this Christmas. And more retailers pushed people to stores to pick up online orders Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: lauren thomas
Keywords: news, cnbc, companies, retailers, procrastinators, abounded, holiday, customers, season, buying, sales, stores, pick, online, store, target, christmas, pushed, orders


Procrastinators abounded this Christmas. And more retailers pushed people to stores to pick up online orders

It was a Christmas for procrastinators.

Target CEO Brian Cornell said one of the biggest trends he spotted this holiday season was the fact that more shoppers were “comfortable shopping later in the season.” Overall U.S. retail sales were also stronger in December, thanks to more people putting off their shopping.

With that, more consumers turned to stores to pick up their last-minute online purchases instead of waiting on packages to arrive in the mail.

On Dec. 24, for example, Cornell said Target prepared nearly five times the number of products for curbside pickup of e-commerce orders compared with a year ago. Overall, Target’s holiday sales underwhelmed. But the company said purchases from customers opting to use either a buy online pick up in store option, curbside pickup or same-day delivery this November and December were up more than 50%.

What Target spotted speaks to a bigger trend in retail that is still in its infancy: The rise of people buying items online and choosing to pick them up at a bricks-and-mortar store.

As digital sales in the U.S. are surging, companies are looking for ways to make those orders more profitable. One way is to reduce what retailers need to spend on shipping and transportation. Even Walmart’s e-commerce business is still losing money. If a retailer can convince a customer to drive to the store to retrieve what he or she bought online, that order becomes more profitable.

Overall online sales this holiday season were up 14.6%, slightly better than expected, according to the National Retail Federation.

This holiday season, “how our customers shopped changed pretty dramatically,” Nordstrom co-president Erik Nordstrom said at NRF’s annual Big Show in New York earlier this week.

“We saw a significant step change in that activity … and so to be able to engage customers across these different touch points changed a lot,” he went on, mentioning more shoppers buying goods online and picking them up at Nordstrom stores.

Nordstrom, like Target, is seen as an early adopter of this service.

It has been opening more of its pint-sized Local stores, which don’t actually hold any inventory but instead are meant to serve as hubs in cities like New York and Los Angeles for customers to pick up digital orders and make returns.

Now everyone from Kohl’s to Bed Bath & Beyond and Best Buy is trying to do more of the same.

Meanwhile, for consumers, buying online and picking up in stores can be viewed as a sustainable choice, as more people are thinking green when they shop.

“You are potentially saving … 500 air miles or more … if you are going into a store and picking these [orders] up,” Mark Mathews, NRF’s vice president of Research Development and Industry Analysis, said at the Big Show earlier this week. “And I think the onus is on retailers to help you know that if you are buying online and coming in the store, you are potentially … making a small, small contribution to helping save our climate.”

“This is a win-win for retailers,” Matthews added. “Because we know that if you’re going into the store to pick something up, you might well be buying something else.”

A report ahead of the holiday season by The NPD Group had said that 25% of online shoppers planned to use their smartphones during the holidays to shop. And those people are more likely than those who use other devices, like a laptop, to buy online and pick up in a store, the study said.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: lauren thomas
Keywords: news, cnbc, companies, retailers, procrastinators, abounded, holiday, customers, season, buying, sales, stores, pick, online, store, target, christmas, pushed, orders


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Holiday sales climb 4.1%, retail industry trade group says, on the higher end of estimates

NRF, the retail industry’s leading trade group, had previously forecast that retail sales excluding automobile dealers, gasoline stations and restaurants during November and December would increase between 3.8% and 4.2%. Data for November was also revised up to show retail sales gaining 0.3%, instead of rising 0.2% as previously reported. Economists polled by Reuters had forecast retail sales would gain 0.3% in December. Compared with December 2018, retail sales accelerated 5.8%. A slew of compa


NRF, the retail industry’s leading trade group, had previously forecast that retail sales excluding automobile dealers, gasoline stations and restaurants during November and December would increase between 3.8% and 4.2%.
Data for November was also revised up to show retail sales gaining 0.3%, instead of rising 0.2% as previously reported.
Economists polled by Reuters had forecast retail sales would gain 0.3% in December.
Compared with December 2018, retail sales accelerated 5.8%.
A slew of compa
Holiday sales climb 4.1%, retail industry trade group says, on the higher end of estimates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: lauren thomas
Keywords: news, cnbc, companies, 2018, holiday, group, nrf, season, climb, reported, previously, sales, economy, trade, industry, retail, higher, estimates, forecast, end


Holiday sales climb 4.1%, retail industry trade group says, on the higher end of estimates

A Walmart worker organizes products for Christmas season at a Walmart store in Teterboro, New Jersey.

Holiday retail sales in 2019 grew 4.1%, amounting to $730.2 billion and coming in at the high end of a previously issued forecast, the National Retail Federation said in a press release on Thursday.

NRF, the retail industry’s leading trade group, had previously forecast that retail sales excluding automobile dealers, gasoline stations and restaurants during November and December would increase between 3.8% and 4.2%. It had expected online sales to rise between 11% and 14%.

Online sales during the holidays slightly topped NRF’s expectations, climbing 14.6%, to $167.8 billion, NRF said Thursday.

“This is a consumer-driven economy, and by any measure, the consumer has put the economy in a solid position for continued growth,” NRF President and CEO Matt Shay said in a statement. “This is a strong finish to the holiday season, and we think it’s a positive indicator of what’s ahead.”

The 2018 holiday season saw meager growth of just 2.1%, thanks in large part to a government shutdown, stock market volatility and interest rate hikes.

The Commerce Department said earlier Thursday that U.S. retail sales increased 0.3% last month. Data for November was also revised up to show retail sales gaining 0.3%, instead of rising 0.2% as previously reported. Economists polled by Reuters had forecast retail sales would gain 0.3% in December. Compared with December 2018, retail sales accelerated 5.8%.

NRF’s numbers are based on data from the U.S. Census Bureau.

“This was a healthy holiday season, especially compared with the decline in retail sales we saw at the end of the season in 2018,” NRF chief economist Jack Kleinhenz said. “Despite a late Thanksgiving and worries about tariffs, the consumer didn’t go away.”

Strong employment and higher wages also gave consumers “a sense of confidence about their ability to spend, and they did their part to keep the economy moving,” Kleinhenz added.

A slew of companies have already reported holiday sales, and many of them have underwhelmed. Department store chains Macy’s, Kohl’s and J.C. Penney all reported same-store sales declines. But there were bright spots in Lululemon and Jared owner Signet Jewelers.

Amazon has also said it had a “record” holiday season, though it hasn’t released any sales figures.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: lauren thomas
Keywords: news, cnbc, companies, 2018, holiday, group, nrf, season, climb, reported, previously, sales, economy, trade, industry, retail, higher, estimates, forecast, end


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