Latest news with #RetailInsightNetwork
Yahoo
a day ago
- Business
- Yahoo
Dollar General sees strong Q1 sales and EPS, and raises FY25 guidance
US discount store chain Dollar General has recorded $10.4bn in net sales in the first quarter (Q1) of the fiscal year 2025 (FY25), ending on 2 May 2025 - a 5.3% increase from the corresponding quarter of the previous fiscal year. The growth was attributed to new stores and a 2.4% rise in same-store sales, despite some store closures. The company also saw a 5.5% increase in operating profit, amounting to $576.1m. Gross profit as a percentage of net sales improved, rising from 30.2% to 31% year-on-year - a 78 basis point increase. This was primarily due to lower shrink and higher inventory markups, although increased markdowns partially offset these gains. The company's net income for the quarter stood at $391.9m - a 7.9% increase from the previous year's $363.3m. Diluted earnings per share (EPS) also grew 7.9% to $1.78. Selling, general and administrative expenses (SG&A) rose by 77 basis points to 25.4% of net sales, with retail labour, incentive compensation, and repairs and maintenance the main contributors to the increase. Merchandise inventories at the end of the quarter were valued at $6.6bn, a 7% decrease on an average per-store basis compared to the previous year. Capital expenditures for the quarter totalled $291m, with significant investments in store improvements, new store facilities, distribution, transportation and technology upgrades. Dollar General CEO Todd Vasos stated: 'Our efforts to improve execution and enhance the associate and customer experience are yielding positive outcomes in both our operational performance and our financial results.' 'These efforts contributed to market share gains in sales of both consumables and non-consumables, and drove growth with both our core customer and trade-in customers during the quarter." Amidst the uncertainty of tariffs and their potential impact on consumer behaviour and business costs, Dollar General has updated its fiscal year 2025 guidance. The company now anticipates net sales growth between 3.7% and 4.7%, with same-store sales expected to increase by 1.5% to 2.5%. The diluted EPS forecast is set at approximately $5.20 to $5.80, assuming an effective tax rate of around 23.5%. No share repurchases are planned for the fiscal year 2025, and capital expenditures are projected to be between $1.3bn and $1.4bn. The company also plans to carry out 4,885 real estate projects, including opening new stores in the US and Mexico, and remodel existing stores through two major projects. In March 2025, Dollar General partnered DoorDash to integrate Supplemental Nutrition Assistance Program/Electronic Benefits Transfer payment options at 16,000 locations through DoorDash Marketplace. "Dollar General sees strong Q1 sales and EPS, and raises FY25 guidance" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
2 days ago
- Business
- Yahoo
Hong Kong retail sales slide enters 14th month with 2.3% April dip
The Hong Kong Census and Statistics Department has recorded a 14th consecutive month of declining retail sales in April 2025, with a 2.3% drop to an estimated $28.9bn. A government spokesperson noted indications of stabilisation in recent retail sales trends. The provisional estimate for April's retail sales, adjusted for price changes, showed a 3.3% year-on-year decline. This contraction in April was less severe than in previous months, despite the impact of the Easter holiday's later occurrence in 2025 (in mid-April) as opposed to its timing at the end of March/beginning of April in 2023. In 2025, Easter therefore coincided with an increase in residents traveling abroad. Online retail sales, which constituted 8.1% of the total retail sales value, were provisionally estimated at $2.3bn - 3.5% down from the same period of the previous year. Supermarkets saw a 2.4% drop in sales value. Apparel fell 5.6%, jewellery, including watches, clocks and valuable gifts, 1.7%, footwear, related products and other clothing accessories 5.1%, fuels 12.5%, furniture and fixtures 16.7%, motor vehicles and parts a significant 53.4%, and optical items 0.2%. Some sectors did witness growth, including other consumer goods not elsewhere classified, which saw a 13.4% increase. Medicines and cosmetics rose 7.2%, food and beverages 3%, and electrical goods and other consumer durable goods not elsewhere classified 1.6%. The value of sales of department store commodities increased 2.1%, books and stationery rose 11.7%, and Chinese drugs and herbs also reported sales growth of 3.8%. The government spokesman conttinued: '... the government's proactive promotion of tourism and mega events will help stimulate the consumption market. Increase in employment earnings and sustained steady growth of the mainland economy will also bolster consumption sentiment. These factors will be supportive to the retail sector, though ongoing changes in consumption patterns and competition among businesses amid the uncertain macroeconomic environment will still pose challenges'. "Hong Kong retail sales slide enters 14th month with 2.3% April dip" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
Yahoo
2 days ago
- Business
- Yahoo
Australian retail faces dip in April 2025 as clothing sales decline
Seasonally adjusted data from the Australian Bureau of Statistics (ABS) indicates a slight decline in retail turnover by 0.1% for April 2025. The downturn comes after the sector experienced growth of 0.3% in March and 0.2% in February. The retail landscape has shown varying performance across sectors. There were significant decreases in clothing, footwear and personal accessory retailing, which dropped 2.5%, and department stores also saw a 2.5% reduction in turnover. These declines were somewhat balanced by increases in other sectors such as household goods retailing, which rose 0.6%. ABS business statistics head Robert Ewing stated: 'Retail spending eased in April, particularly on clothing purchases. 'Falls were partly offset by a bounce-back in Queensland as businesses recovered from the negative impacts of ex-Tropical Cyclone Alfred last month. 'Clothing retailers told us that the warmer-than-usual weather for April saw people holding off on buying clothing items, especially new winter season stock.' Food-related spending, which has been a driving force behind recent retail growth, continued its upward trajectory as cafés, restaurants and takeaway food services saw a 1.1% increase in turnover. However, this was partially negated by a 0.3% fall in food retailing. Ewing added: 'The rise in food-related spending was driven by more dining out in Queensland this month. The bounce-back comes after adverse weather negatively impacted café and restaurant sales.' Retail turnover saw regional variations, with Queensland registering a 1.4% increase and Western Australia noting modest growth of 0.4%. All other states and territories witnessed a decrease in retail turnover in a shift from the growth seen in March. Ewing added: 'Queensland retailers recovered from last month's temporary business closures and fewer customers. 'In April, we saw higher spending in the industries most impacted by ex-Tropical Cyclone Alfred. More people dined out and made recovery purchases on household items like furniture and electrical goods.' "Australian retail faces dip in April 2025 as clothing sales decline" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
Yahoo
7 days ago
- Business
- Yahoo
Veho and RIVR pilot robotic e-commerce delivery in US
Parcel delivery service provider Veho, in collaboration with Swiss robotics firm RIVR, has initiated a trial involving AI-driven robots for e-commerce deliveries. The trial, which began in the city of Austin, Texas, may extend to more cities in the second half of 2025 based on the outcomes of this initial phase. RIVR's robots are equipped with general physical AI, enabling them to complete the final stretch of delivery from the delivery vehicle to the doorstep. They can navigate complex terrains including stairs and uneven paths, setting them apart from other delivery bots that only reach the kerb, or drones that face challenges in crowded urban settings. RIVR CEO Marko Bjelonic stated: 'With the exponential rise in e-commerce, the last mile has become the most critical — and complex — link in the logistics chain. Our partnership with Veho is a major milestone on the journey to scale urban robotics where it's needed most.' The robots will perform simultaneous deliveries alongside human drivers and their introduction is intended to augment drivers' capacity to deliver more packages at a quicker rate while reducing physical exertion, rather than replacing humans. Each robot can navigate directly to customers' doorsteps and place parcels as instructed. Customers will receive photo confirmation of each delivery through the Veho app. To ensure safety and high-quality delivery service during the trial, each robot will be accompanied by a RIVR employee. Veho and RIVR personnel will closely monitor the robots' performance in real-world delivery scenarios. Veho co-founder and CEO Itamar Zur stated: 'This partnership is an exciting next step in reinventing e-commerce delivery and enabling brands to turn shipping from a cost centre to a value driver. 'When it comes to delivery, customers care most about its reliability, speed and cost. This partnership will help us learn if a robot working with a human can help reduce delivery costs while improving on-time-delivery and speed, all while maintaining a great delivery and brand experience.' This partnership marks the entry of RIVR in the US market. Veho's network spans 50 metropolitan areas in the US, having recently expanded into New York City. The company operates more than 30 distribution centres nationwide and operates an app-based platform utilised by 84,000 independent driver-partners. "Veho and RIVR pilot robotic e-commerce delivery in US" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
28-05-2025
- Business
- Yahoo
Veho and RIVR pilot robotic e-commerce delivery in US
Parcel delivery service provider Veho, in collaboration with Swiss robotics firm RIVR, has initiated a trial involving AI-driven robots for e-commerce deliveries. The trial, which began in the city of Austin, Texas, may extend to more cities in the second half of 2025 based on the outcomes of this initial phase. RIVR's robots are equipped with general physical AI, enabling them to complete the final stretch of delivery from the delivery vehicle to the doorstep. They can navigate complex terrains including stairs and uneven paths, setting them apart from other delivery bots that only reach the kerb, or drones that face challenges in crowded urban settings. RIVR CEO Marko Bjelonic stated: 'With the exponential rise in e-commerce, the last mile has become the most critical — and complex — link in the logistics chain. Our partnership with Veho is a major milestone on the journey to scale urban robotics where it's needed most.' The robots will perform simultaneous deliveries alongside human drivers and their introduction is intended to augment drivers' capacity to deliver more packages at a quicker rate while reducing physical exertion, rather than replacing humans. Each robot can navigate directly to customers' doorsteps and place parcels as instructed. Customers will receive photo confirmation of each delivery through the Veho app. To ensure safety and high-quality delivery service during the trial, each robot will be accompanied by a RIVR employee. Veho and RIVR personnel will closely monitor the robots' performance in real-world delivery scenarios. Veho co-founder and CEO Itamar Zur stated: 'This partnership is an exciting next step in reinventing e-commerce delivery and enabling brands to turn shipping from a cost centre to a value driver. 'When it comes to delivery, customers care most about its reliability, speed and cost. This partnership will help us learn if a robot working with a human can help reduce delivery costs while improving on-time-delivery and speed, all while maintaining a great delivery and brand experience.' This partnership marks the entry of RIVR in the US market. Veho's network spans 50 metropolitan areas in the US, having recently expanded into New York City. The company operates more than 30 distribution centres nationwide and operates an app-based platform utilised by 84,000 independent driver-partners. "Veho and RIVR pilot robotic e-commerce delivery in US" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
