Latest news with #DavidBellinger
NBC News
4 days ago
- Business
- NBC News
Ulta and Target will end deal for in-store beauty shops next year
Ulta Beauty and Target said Thursday that they have decided to end a deal that opened makeup and beauty shops in hundreds of Target's stores. Shares of Target fell about 2% in early trading, while Ulta's stock slid about 1%. In a news release, the companies said the partnership — which also added some of Ulta's merchandise to Target's website — will end in August 2026. Target had added more than 600 Ulta Beauty shops to its stores since 2021, according to a company spokesperson. That's nearly a third of Target's 1,981 U.S. stores. Ulta Beauty at Target shops carried a smaller and rotating assortment of the merchandise at the beauty retailer's own stores. They were staffed by Target's employees. The loss of the popular beauty retailer's products could be another blow to Target as it tries to woo back both shoppers and investors. Target's annual sales have been roughly flat for four years and it expects sales to decline this fiscal year. Shares of the company are worth less than half of what the were back in 2021, when they hit an all-time closing high of $266.39. It also has faced backlash over both its Pride collection and its rollback of key diversity, equity and inclusion initiatives. Store traffic for Target has declined year over year nearly every week from the week of Jan. 27, days after the company's DEI announcement, through the week of Aug. 4, according to an analytics firm that uses anonymized data from mobile devices to estimate overall visits to locations. Target traffic had been up weekly year over year in the four weeks before Jan. 27. The only exceptions to that trend were the two weeks on either side of Easter, when traffic rose less than 1% year over year, the firm's data showed. On earnings calls and in investor presentations, leaders of the Minneapolis-based company had touted Ulta's shops and its trendy beauty brands as a way to drive store traffic. At a investor presentation in New York City in March, CEO Brian Cornell highlighted beauty as a growth category for Target and cited it as reason for confidence in Target's long-term business. He said the company had gained market share in beauty and its sales in the category rose by nearly 7% in the fiscal year that ended in early February. Target's CEO Brian Cornell, 66, is expected to depart the company soon. The longtime Target leader renewed his contract for approximately three years in September 2022 after the board scrapped its retirement age of 65. David Bellinger, an analyst for Mizuho Securities who covers retailers, said in an equity research note on Thursday that Target's 'messy in-store operations' as well as issues with retail theft and insufficient staffing at stores likely contributed to the companies ending their partnership. 'Overall, we see losing the Ulta shop-in-shop relationship as a negative development and something else Target's next CEO will have to grapple with,' he wrote. In a statement on Thursday, Target Chief Commercial Officer Rick Gomez said the discounter is 'proud of our shared success with Ulta Beauty and the experience we've delivered together.' 'We look forward to what's ahead and remain committed to offering the beauty experience consumers have come to expect from Target — one centered on an exciting mix of beauty brands with continuous newness, all at an unbeatable value,' he said. In a statement, Ulta's Chief Retail Officer Amiee Bayer-Thomas described the Target deal as 'one of many unique ways we have brought the power of beauty to guests nationwide.' 'As we continue to execute our Ulta Beauty Unleashed plans, we're confident our wide-ranging assortment, expert services and inspiring in-store experiences will reinforce our leadership in beauty and define the next chapter of our brand,' she said.
Yahoo
08-07-2025
- Business
- Yahoo
Amazon's Prime Day event is on. How Walmart is hoping to crash the party.
Let the games begin. The ultimate shopping showdown is underway. Amazon's (AMZN) Prime Day deals will take center stage for most shoppers this week as the company extends its signature shopping period to four days. But this year, as in recent years, Amazon is not alone. Walmart (WMT), which showed a profit in its US e-commerce business for the first time this year, is on Amazon's tail as it doubles down on its e-commerce business, entices customers to join its Walmart + membership subscription, and leans into its strength — groceries. Amazon is "clearly the big player this week," Mizuho analyst David Bellinger said. But, he added, others are in on the fun. That list includes Target (TGT), Home Depot (HD), Lowe's, (LOW), Best Buy (BBY), Tractor Supply (TSCO), Dick's Sporting Goods (DKS), and even Ulta Beauty (ULTA) — all of which are running deals online as well as some in-store promotions. Front and center, Amazon's biggest threat: Walmart, with its Deals week that runs for six days and is open to all customers, not just members. Amazon's Prime Day event kicked off Tuesday and is set to run through July 11 for members only. What started out as a single-day event back in 2015 is now 96 hours — double last year's Prime-a-thon. Bank of America projects that Amazon alone will bring in $21 billion in sales worldwide during the four-day event. Yet, this could be Walmart's moment to shine — or at least gain some ground on its dominant rival. Walmart juiced up its convenience and delivery chops with the addition of Walmart+ in 2020. In its fiscal 2025 report, Walmart brought in $121 billion in e-commerce sales, boosted by 8.3 billion items delivered the same or next day. Amazon trumps that in comparison with $247.03 billion in net sales for its online stores alone. Its rival's overwhelming lead aside, Walmart might gain ground thanks to the consumer climate. Consumers remain cautious — US retail sales for May fell 0.9%, a sharper drop than economists had forecast. That means shoppers this week will seek out the best deals no matter what membership they hold. "Amazon's probably your first choice to search for stuff, but then you price compare," Bellinger said. That could be hurting Amazon, as spending is reportedly down 14% in the first four hours of the first day. "Amazon's ... like the king of this week ... then everyone gets a 'drafting off of them' benefit," he added. Consumers will turn to discretionary items this week, such as household essentials, personal electronics, and back-to-school items, per the software analytics platform Adobe. That leans in Amazon's favor. "During these savings events ... most of these large discounts are geared towards more discretionary goods, like electronics, apparel," CFRA analyst Arun Sundaram said. "Those are categories where Amazon typically holds greater share than Walmart, and especially the e-commerce space." Yet, despite Amazon's dominance in many categories, this week could be Walmart's big chance to gain membership income and market share. Sundaram said Walmart's first priority is to "get more people to sign up for their Walmart+ membership model." Walmart is looking to take share from Amazon by offering its $98 membership at half price for $49 until July 15. The company touts free returns from home and free pharmacy delivery, among other perks. Amazon's annual Prime membership is $149 for the year. Walmart's US membership revenue, including membership fees and other items, came in around $2.6 billion in 2024, up roughly 31% from the year prior. Neither company discloses current membership numbers. Amazon doubled that, bringing in $44.4 billion in subscription services last year, up 10% year over year, including annual and monthly fees associated with Amazon Prime memberships, plus other subscriptions like its ebook service, Kindle Unlimited. Members tend to be higher-income customers who skew to buying general merchandise, analysts said. That could play into Walmart's playbook as wealthier shoppers look for deals at the big box retailer. (Walmart US CEO John Furner told investors last quarter it saw "growth across all income cohorts in the quarter.") Amazon and Walmart stocks both fell more than 1% on Monday as investors continue to be confused about the impact of President Trump's tariff polices. Also, price tags at big events typically hit profit margins. Of course, it's impossible to know exactly how Walmart will fare this week. But Walmart executives are clearly focusing on the company's strength: groceries, which make up 60% of Walmart's US revenue and are something consumers are keeping top of mind. Front and center on Walmart's homepage, food prices are as much as 50% off. Bottom line: It's still Amazon's show, but Walmart is lurking. Brooke DiPalma is a senior reporter for Yahoo Finance. Follow her on X at @BrookeDiPalma or email her at bdipalma@ Click here for all of the latest retail stock news and events to better inform your investing strategy
Yahoo
08-07-2025
- Business
- Yahoo
Amazon's Prime Day event is on. How Walmart is hoping to crash the party.
Let the games begin. The ultimate shopping showdown is underway. Amazon's (AMZN) Prime Day deals will take center stage for most shoppers this week as the company extends its signature shopping period to four days. But this year, as in recent years, Amazon is not alone. Walmart (WMT), which showed a profit in its US e-commerce business for the first time this year, is on Amazon's tail as it doubles down on its e-commerce business, entices customers to join its Walmart + membership subscription, and leans into its strength — groceries. Amazon is "clearly the big player this week," Mizuho analyst David Bellinger said. But, he added, others are in on the fun. That list includes Target (TGT), Home Depot (HD), Lowe's, (LOW), Best Buy (BBY), Tractor Supply (TSCO), Dick's Sporting Goods (DKS), and even Ulta Beauty (ULTA) — all of which are running deals online as well as some in-store promotions. Front and center, Amazon's biggest threat: Walmart, with its Deals week that runs for six days and is open to all customers, not just members. Amazon's Prime Day event kicked off Tuesday and is set to run through July 11 for members only. What started out as a single-day event back in 2015 is now 96 hours — double last year's Prime-a-thon. Bank of America projects that Amazon alone will bring in $21 billion in sales worldwide during the four-day event. Yet, this could be Walmart's moment to shine — or at least gain some ground on its dominant rival. Walmart juiced up its convenience and delivery chops with the addition of Walmart+ in 2020. In its fiscal 2025 report, Walmart brought in $121 billion in e-commerce sales, boosted by 8.3 billion items delivered the same or next day. Amazon trumps that in comparison with $247.03 billion in net sales for its online stores alone. Its rival's overwhelming lead aside, Walmart might gain ground thanks to the consumer climate. Consumers remain cautious — US retail sales for May fell 0.9%, a sharper drop than economists had forecast. That means shoppers this week will seek out the best deals no matter what membership they hold. "Amazon's probably your first choice to search for stuff, but then you price compare," Bellinger said. That could be hurting Amazon, as spending is reportedly down 14% in the first four hours of the first day. "Amazon's ... like the king of this week ... then everyone gets a 'drafting off of them' benefit," he added. Consumers will turn to discretionary items this week, such as household essentials, personal electronics, and back-to-school items, per the software analytics platform Adobe. That leans in Amazon's favor. "During these savings events ... most of these large discounts are geared towards more discretionary goods, like electronics, apparel," CFRA analyst Arun Sundaram said. "Those are categories where Amazon typically holds greater share than Walmart, and especially the e-commerce space." Yet, despite Amazon's dominance in many categories, this week could be Walmart's big chance to gain membership income and market share. Sundaram said Walmart's first priority is to "get more people to sign up for their Walmart+ membership model." Walmart is looking to take share from Amazon by offering its $98 membership at half price for $49 until July 15. The company touts free returns from home and free pharmacy delivery, among other perks. Amazon's annual Prime membership is $149 for the year. Walmart's US membership revenue, including membership fees and other items, came in around $2.6 billion in 2024, up roughly 31% from the year prior. Neither company discloses current membership numbers. Amazon doubled that, bringing in $44.4 billion in subscription services last year, up 10% year over year, including annual and monthly fees associated with Amazon Prime memberships, plus other subscriptions like its ebook service, Kindle Unlimited. Members tend to be higher-income customers who skew to buying general merchandise, analysts said. That could play into Walmart's playbook as wealthier shoppers look for deals at the big box retailer. (Walmart US CEO John Furner told investors last quarter it saw "growth across all income cohorts in the quarter.") Amazon and Walmart stocks both fell more than 1% on Monday as investors continue to be confused about the impact of President Trump's tariff polices. Also, price tags at big events typically hit profit margins. Of course, it's impossible to know exactly how Walmart will fare this week. But Walmart executives are clearly focusing on the company's strength: groceries, which make up 60% of Walmart's US revenue and are something consumers are keeping top of mind. Front and center on Walmart's homepage, food prices are as much as 50% off. Bottom line: It's still Amazon's show, but Walmart is lurking. Brooke DiPalma is a senior reporter for Yahoo Finance. Follow her on X at @BrookeDiPalma or email her at bdipalma@ Click here for all of the latest retail stock news and events to better inform your investing strategy
Yahoo
04-07-2025
- Automotive
- Yahoo
Why Advance Auto Parts Stock Trounced the Market on Thursday
The company benefited from a pre-market open price target raise. That didn't exactly make the analyst behind it an Advance bull, however. 10 stocks we like better than Advance Auto Parts › Investors were assertively stepping on the gas pedal with Advance Auto Parts (NYSE: AAP) on Thursday. The stock closed more than 5% higher as of the 1 p.m. ET early market close for the Fourth of July holiday, a figure that was well higher than the S&P 500's (SNPINDEX: ^GSPC) 0.8% increase. An analyst price target raise had much to do with Advance's advance. Well before market open that day, Mizuho prognosticator David Bellinger upped his fair-value assessment of Advance's stock. His new level is $44 per share, up notably from the preceding $38. Despite the fairly generous bump, Bellinger maintained his neutral recommendation on the auto parts retailer. The analyst's modification was due largely to the company's first-quarter performance, according to reports. On the back of Advance delivering headline fundamentals that were significantly better than the consensus pundit estimates, Bellinger raised his own for full-year 2025 and 2026. For the former period, he now feels that the company will earn $2.34 per share on the bottom line, where previously he had been modeling $2.18. As for 2026, he upped his profitability estimate to $4.00 from $3.75. Bellinger also devoted some words in his new Advance note to intimating why he left his neutral recommendation unchanged. He thinks that the company will continue to have challenges implementing its current turnaround plan. Many retailers, in his estimation, are facing similar difficulties. While there was something to admire in Advance's first-quarter earnings beat, I'd agree with the Mizuho analyst that retail is a tough game these days. I also don't believe we'll see sudden spikes in car sales, a dynamic that tends to inject some turbo into the performance of parts retailers like Advance. Therefore, I wouldn't jump in to this particular ride just now. Before you buy stock in Advance Auto Parts, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Advance Auto Parts wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $692,914!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $963,866!* Now, it's worth noting Stock Advisor's total average return is 1,049% — a market-crushing outperformance compared to 179% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Advance Auto Parts Stock Trounced the Market on Thursday was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
14-06-2025
- Business
- Yahoo
Why Chewy Stock Was Diving This Week
The pet care specialist published its first quarterly earnings report for this year. It topped analyst expectations for both revenue and profitability, but the beats were hardly overwhelming. 10 stocks we like better than Chewy › A badly received quarterly earnings report was the major news item exerting gravity on Chewy (NYSE: CHWY) stock over the past few days. As a result, according to data compiled by S&P Global Market Intelligence, the company's share price had slumped by almost 15% week-to-date as of Thursday evening. That sell-off happened even though Chewy actually topped analyst estimates for revenue and profitability, albeit not by vast amounts. In its first quarter, the company managed to grow its net sales by more than 8% year over year to $3.1 billion, while its non-GAAP (adjusted) net income improved at a slightly higher rate to just under $149 million ($0.35 per share). Analysts had collectively been modeling a bit below $3.1 billion on the top line and $0.32 per share for adjusted profitability. While those aren't bad numbers at first glance, Chewy is an expensive stock to own; even after the post-earnings sell-off it was trading at a rich forward P/E of almost 36. For more than a few investors, that's awfully pricey for a company posting single-digit percentage improvements, and at thin profit margins to boot. Meanwhile, as analysts tracking a stock often do, several pundits following Chewy adjusted their takes on the stock. Most of these adjusters raised their price targets, but there were several less bullish updates, too. One was published by Mizuho's David Bellinger, who now feels Chewy is worth $44 per share, down from his previous $47. He maintained his neutral recommendation on the stock. It's hard to ignore how pricey this stock is at the moment, and to some degree that's a shame. Chewy has been posting good results from its Autoship program lately, a feature that still has plenty of potential to boost valuable recurring revenue. I'm not necessarily hot on this stock, but there might be some upside to it if it can post more convincing quarterly earnings beats. Before you buy stock in Chewy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Chewy wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $655,255!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $888,780!* Now, it's worth noting Stock Advisor's total average return is 999% — a market-crushing outperformance compared to 174% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chewy. The Motley Fool has a disclosure policy. Why Chewy Stock Was Diving This Week was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
