AI Chip Market - Meta Platforms is reportedly in multi-billion-dollar discussions with Google to acquire its custom AI chips, known as Tensor Processing Units (TPUs), starting in 2027 [2] - Google may also rent TPUs to Meta from Google Cloud as early as next year, marking a strategic shift in competition with Nvidia [2] - Broadcom shares rose by as much as 4.6% due to its partnership with Google on TPU development [2] - Michael Burry has drawn parallels between Nvidia and Cisco during the dot-com era, suggesting a potential bubble in the AI market [3] Retail Sector Performance - Kohl's reported Q3 2025 net sales of $3.4 billion, exceeding estimates of $3.33 billion, with shares surging by as much as 25% [4] - Kohl's adjusted EPS was $0.07 against an estimated loss per share of $0.16, raising its full-year adjusted EPS outlook to $1.25 to $1.45 [4] - Best Buy's Q3 2025 revenue reached $9.67 billion, surpassing the estimated $9.58 billion, with adjusted EPS of $1.40 compared to an estimated $1.30 [5] - Best Buy experienced a 2.4% increase in U.S. comparable sales and a 2.7% rise in enterprise comparable sales [5] Economic Indicators - Deutsche Bank forecasts a 25 basis point Federal Reserve rate cut in December, followed by an extended pause in rate adjustments through 2025 [6] - The proportion of unemployed Americans with four-year college degrees has reached a record 25.3% of total unemployment, doubling since the 2008 financial crisis [7] Geopolitical and Energy Market Developments - The UK has expressed willingness to deploy military support for a ceasefire and lasting peace deal in Ukraine [10] - Russia's Black Sea Novorossiisk and CPC oil terminals have resumed loadings after drone attacks, indicating a swift recovery in operations [11] - Iranian crude held on tankers at sea has reached a two-and-a-half-year high, suggesting shifts in global crude demand and supply dynamics [11] Corporate and Policy Updates - Tesla's price target was cut by Mizuho to $475 from $485 [12] - Volkswagen plans to reduce electric vehicle development costs in China by up to 50% [12] - Deutsche Bank downgraded DuPont's price target to $46 from $90 [12] - The China Space Agency is developing new policies for commercial satellite launches, indicating a structured approach to its commercial space sector [12] - French prosecutors have initiated an investigation into eBay [12]

This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. Dive Brief: Kohl’s Q3 net sales fell nearly 3% year over year to $3.4 billion, with comps down 1.7%, the department store reported Tuesday. Gross margin expanded by 51 basis points to 39.6%. Inventory of $3.9 billion was down 5% compared to last year. Net income plunged 64% to $8 million. The company has no plans to close locations beyond its usual annual review ...

Core Insights - Kohl's Corp. reported third-quarter results that exceeded expectations, prompting an increase in full-year guidance [1][2] Financial Performance - Net sales for the third quarter decreased by 2.8% year-over-year to $3.4 billion, down from $3.5 billion, with comparable sales declining by 1.7% [3] - Net income was $8 million, or 7 cents per diluted share, compared to $22 million, or 20 cents per diluted share, in the prior year [3] - Operating income fell to $73 million from $98 million in the previous year, representing 2.1% of total revenue, a decrease of 61 basis points [4] - Adjusted operating income was $77 million, or 2.2% of total revenue, down from $98 million in the prior year [4] - Gross margin increased to 39.6%, up by 51 basis points [11] - Cash flow from operating activities was $124 million, down from $195 million a year earlier [11] Strategic Initiatives - The company is focusing on improving its product mix, particularly in proprietary brands and categories such as fine jewelry and home decor [6][8] - CEO Michael Bender emphasized the importance of customer feedback in shaping product offerings and store experiences [6] - Proprietary brands saw a collective growth of 1% last quarter, with investments in key brands like Lauren Conrad and Simply Vera Vera Wang [7] Guidance Update - Kohl's raised its full-year guidance, now expecting net sales to decline by 3.5% to 4% and comparable sales to decline by 2.5% to 3% [12] - Adjusted operating margin is now projected to be between 3.1% and 3.2%, an increase from the previous range of 2.5% to 2.7% [13] - Adjusted diluted earnings per share are now expected to be between $1.25 and $1.45, up from the previous range of 50 cents to 80 cents [13] Company Overview - Kohl's operates over 1,100 stores across 49 states, along with its online platform and mobile app [14]

Core Insights - A portion of the "post-00s" generation, known as "internet natives," is shifting from online consumption to offline shopping, with "two-dimensional street blocks" becoming new urban landmarks [1] - Traditional malls are undergoing significant renovations to attract younger consumers and enhance their shopping experience [2][3] Group 1: Market Trends - A survey by the China National Commercial Information Center indicates that 66% of surveyed enterprises expect an increase in renovation and upgrade events in 2024 [2] - The Wangfujing Joy Shopping Center, transformed from the Beijing New Yansha Golden Street Shopping Center, has quickly become a trendy destination for Gen Z consumers since its opening at the end of 2023, with significant increases in sales and foot traffic [2][3] - The Shanghai Bailian ZX Creative Park focuses on the two-dimensional economy, hosting nearly 700 events in 2024, resulting in a 70% year-on-year increase in sales and a 40% rise in foot traffic [3] Group 2: Consumer Preferences - Consumers are increasingly prioritizing experiential and emotional aspects of shopping, with 64% of consumers valuing spiritual consumption more, especially among younger demographics [5] - The demand for offline shopping has shifted from merely purchasing goods to seeking unique experiences and personalized offerings [5] Group 3: Innovative Strategies - Malls are evolving from traditional retail spaces to urban lifestyle centers that integrate social, cultural, and consumption experiences [7] - Various malls are implementing unique service enhancements, such as multilingual support and pet-friendly spaces, to create differentiated competitive advantages [8] Group 4: Challenges and Solutions - The disconnect between traditional business models and modern consumer needs poses challenges for physical retail [9] - High renovation costs and the need for effective operational support are significant hurdles for many malls [11] - Innovative approaches, such as mixed-use developments that combine retail with office and residential spaces, are being explored to mitigate renovation costs and boost foot traffic [11]

Core Insights - The article highlights the shift of younger consumers, particularly the "post-00s" generation, from online shopping to offline experiences, with a focus on the rise of "two-dimensional" themed shopping districts as new urban landmarks [2][3] - Traditional department stores are undergoing significant renovations to attract younger consumers, with 66% of surveyed companies indicating an increase in upgrade events for 2024 [2][3] - The emphasis on experiential retail and emotional engagement is becoming crucial for attracting consumers, as evidenced by the popularity of unique shopping experiences and themed events [4][5] Group 1: Market Trends - Many traditional department stores are enhancing their "IP density" and creating two-dimensional business formats to draw younger consumers back to physical stores [3] - In 2024, retail sales in department stores and brand specialty stores are projected to decline by 2.4% and 0.4%, respectively, indicating a need for innovative strategies to revitalize these businesses [3] - The Chinese government has initiated policies to promote urban renewal, focusing on upgrading commercial pedestrian streets and enhancing public space quality [3] Group 2: Consumer Experience - The success of shopping centers like Wangfujing Joy City is attributed to their focus on youth culture, trendy brands, and creating a vibrant shopping atmosphere, leading to significant increases in sales and foot traffic [2][4] - Consumers are increasingly prioritizing experiential and emotional aspects of shopping, with 64% of consumers valuing spiritual consumption, particularly among younger demographics [4] - Shopping centers are evolving from mere retail spaces to integrated urban lifestyle hubs that combine social, cultural, and shopping experiences [5] Group 3: Operational Strategies - Many shopping centers are extending their physical space functions, transforming into urban lifestyle centers that blend social and cultural elements with retail [5] - Enhanced service offerings, such as multilingual support and unique customer experiences, are being implemented to create competitive advantages [6] - The challenge remains for shopping centers to maintain competitive advantages and achieve sustainable profitability amidst high renovation costs and market saturation [6][7] Group 4: Innovative Approaches - The Minsheng Department Store in Xi'an is exploring a mixed-use model by combining commercial, office, and hotel spaces to optimize space utilization and attract more visitors [7] - The use of artificial intelligence and data analytics is recommended to better understand consumer preferences and improve operational efficiency [7] - The government is encouraging the use of financial tools to support the transformation and upgrading of urban commercial facilities [7][8]

Kohl’s announced on Monday that interim CEO Michael Bender will become the ailing retailer’s permanent new CEO—making him the third chief executive to head the company in about three years. Most Read from Fast Company The news comes a day before the Wisconsin-based department store chain releases its third-quarter earnings report on Tuesday, November 25, at 9 a.m. “Over the past several months as interim CEO, Michael has proven to be an exceptional leader for Kohl’s—progressively improving results, drivi ...

Core Insights - Kohl's has appointed Michael Bender as its permanent CEO, tasked with reversing declining sales and profits after a series of leadership changes [1][4][10] - Bender's interim leadership has already seen the company's shares more than double, although they recently experienced a slight decline [2][9] - The company aims to attract budget-conscious shoppers by focusing on private-label brands, discounts, and a more fashionable assortment [4][5] Company Strategy - The immediate priority for Kohl's is to win back customers by simplifying product offerings and enhancing the fashion appeal of its merchandise [5][10] - Bender has accelerated efforts to engage lower and middle-income customers, introducing fresher items amid high inflation and tariffs [5][11] - The company is leveraging partnerships with Sephora and Babies "R" Us while streamlining operations through store closures and job cuts [8] Market Performance - Kohl's lifted its annual profit targets in the first full quarter under Bender, exceeding market expectations [9] - Despite recent improvements, market analysts express skepticism about the company's long-term strategy and execution capabilities [10]

Kohl’s Corp. has promoted Michael J. Bender, who has been serving as interim chief executive officer of Kohl’s Corp. since May, to chief executive officer, the company announced Monday. “Over the past several months as interim CEO, Michael has proven to be an exceptional leader for Kohl’s — progressively improving results, driving short and long-term strategy, and positively impacting cultural change,” board chair John Schlifske said in a statement Monday. “With three decades of leadership experience acro ...

Core Insights - Kohl's has appointed Michael Bender as its permanent chief executive, promoting him from his interim position as the company seeks to address ongoing sales declines [1] Company Summary - The appointment of Michael Bender is part of Kohl's strategy to revitalize the company after experiencing years of declining sales [1]

Kohl's said Monday that Michael Bender, who has served as its interim CEO, will become its permanent chief executive as the department store tries to get back to sales growth. He becomes the third CEO for the department store in three years. The move is effective as of Sunday.Bender, who has been director of Kohl's board since July 2019, became the company's interim CEO in May. The retailer appointed Bender to the position after firing CEO Ashley Buchanan after just a few months into his tenure.Kohl's fired ...