The Walmart AnalystJPMorgan analyst Christopher Horvers maintained an Overweight rating on Walmart with a price target of $137.The Analyst TakeawaysWalmart's fourth quarter showed "solid fundamentals," Horvers said in a new investor note."Overall, WMT's 4Q results and operating income were likely a bit light vs. expectations," he added.The analyst said there may be a "high bar" for the company.Walmart's first-quarter guidance came in shy of analyst estimates."The stock had run and earnings likely provide a ...

Key Takeaways New Jobless Claims Sink to Early 2026 LevelsTrade Deficit Sinks to -$70B, Inventories FlatWalmart, Deere & Etsy All Beat Earnings Ahead of the OpenThursday, February 19th, 2026We have a decent amount of grist for the stock market mill this morning, with key earnings reports joining key economic news. Pre-market indexes have slid into the red from early-morning highs, but are leveling off currently: the Dow is -133 points, -0.27%, the S&P 500 -19, -0.28%, the Nasdaq -92, -0.37% and the small-ca ...

Key Takeaways Target is seeing shoppers prioritize value and essentials, with spending on discretionary items.Food and Beverage and Hardlines are outperforming, supported by sharper pricing and assortments.TGT is boosting convenience with digital growth, faster delivery options and inventory control.Target Corporation (TGT) is operating in a retail environment where consumers are increasingly focused on value, convenience and everyday affordability. Shoppers remain selective, with spending skewed toward ess ...

Marks & Spencer has topped the list of the strongest brands in the UK for the fourth year running.The top ten, compiled by YouGov’s BrandIndex tool, shows M&S with an overall index score of 52.7, ahead of Ikea with 45.6.Retailers John Lewis and Boots also made the list, in fourth and ninth place, respectively.M&S CEO Stuart Machin said “We deeply appreciate being named the UK’s Best Brand by YouGov for the fourth year in a row.“This one means a lot, because it’s based on what our customers say about us. You ...

Core Viewpoint - Marks & Spencer's technology chief Josie Smith has departed from the company less than a year after a significant cyberattack that severely disrupted operations and resulted in an estimated loss of approximately 300 million pounds in profit [1] Group 1 - The departure of Josie Smith comes in the wake of a cyberattack that paralyzed Marks & Spencer's operations [1] - The cyberattack is reported to have cost the company around 300 million pounds in lost profit [1]

Core Insights - Expectations of stable economic growth and improving financial conditions are influencing investor strategies as they approach 2026 [1] - Blue-chip retail stocks like Walmart, Costco, and Lowe's are gaining attention due to their operational resilience and steady earnings performance [1] Economic Context - The economic growth in 2025 moderated as the transition from post-pandemic momentum to sustainable expansion occurred, with business investment softening and global trade remaining uneven [2] - Ongoing policy uncertainties regarding taxation and tariffs led many firms to delay major capital expenditures [2] - Inflation remained above the Federal Reserve's long-term target, prompting cautious interest rate cuts to ease financial conditions [3] Market Performance - Equity markets showed positive sentiment with the Dow Jones Industrial Average gaining approximately 14%, the S&P 500 advancing about 16%, and the Nasdaq Composite rising 19% year-to-date [4] Blue-Chip Retail Stocks - Blue-chip retail stocks are characterized by financial strength and a history of reliable returns, making them less volatile and dependable for investors [5] - These retailers possess strong market positions, brand recognition, and loyal customer bases, providing a competitive edge and growth opportunities [6] Company-Specific Insights Walmart - Walmart is enhancing its omnichannel retail position through technology, e-commerce, and high-margin profit streams [10] - The company has a market capitalization of $931.1 billion and pays a quarterly dividend of about $0.24 per share, with a payout ratio of 37% and a five-year dividend growth rate of 4.9% [11] - The Zacks Consensus Estimate suggests growth of 4.5% in sales and 4.8% in EPS for the current financial year [11] Costco - Costco's membership-driven model is driving strong traffic and brand loyalty, supported by digital capabilities and operational technology [12] - The company has a market cap of $382 billion and pays a quarterly dividend of $1.30 per share, with a payout ratio of 28% and a five-year dividend growth rate of 13.7% [13] - The Zacks Consensus Estimate indicates growth of 7.5% in sales and 11.3% in EPS for the current financial year [13] Lowe's - Lowe's is implementing a Total Home Strategy to enhance its competitive position through improved Pro capabilities and online experience [14] - The company has a market cap of $139.6 billion and pays a quarterly dividend of $1.20 per share, with a payout ratio of 39% and a five-year dividend growth rate of 15.6% [15] - The Zacks Consensus Estimate suggests growth of 2.9% in sales and 2.2% in EPS for the current financial year [15]

Core Insights - Walmart continues to avoid NFC-based payment options like Apple Pay and Google Pay, despite the growing trend among other retailers to adopt such technologies [1][2] - The company promotes its own payment solutions, such as the Walmart Pay app and the Scan and Go feature, which allow customers to bypass traditional checkout methods [2][4] - Younger consumers increasingly expect digital payment options, leading to frustration when retailers do not offer them [3] Payment Strategy - Walmart's avoidance of NFC payments aligns with its broader retail strategy, as upgrading to NFC-compatible hardware incurs costs that can be significant given the number of stores and terminals [4] - The company focuses on providing its own contactless payment alternatives through its apps, which it believes are sufficient for customer needs [5] - Walmart's preference for its own payment tools allows it to gather valuable customer data, enhancing its understanding of shopping habits [6] Competitive Landscape - Other major retailers, including Amazon, Target, and Costco, also utilize their own apps and membership programs to collect customer data [7] - While Walmart may reconsider its stance on NFC payments in the future, it currently benefits from its unique approach in the retail market [7]

Summary of Miniso (MNSO) Conference Call Company Overview - **Company**: Miniso (MNSO) - **Industry**: Retail, specifically in the discount variety store segment Key Takeaways 1. **Same Store Sales Growth (SSSG)**: - Miniso China has maintained strong SSSG momentum, with management projecting low teens percentage growth into Q4, supported by a low base and improved operations such as new product updates and inventory preparation [1][2] 2. **Store Upgrades**: - The pace of store upgrades in China is expected to accelerate, with management aiming to upgrade more than 200 stores in 2026, leveraging improved sales performance and team capabilities [1][2] 3. **US Market Performance**: - Management is confident in achieving 50%-55% sales growth in the US market for Q4, despite a contraction in gross profit margin (GPM) due to a higher local procurement mix [1][10] - The local procurement mix has increased to approximately 50% from 20-30% in Q3, which has compressed GPM but improved inventory turnover [10] 4. **Operational Efficiency**: - Improvements in operational efficiency have been noted, including enhanced merchandising cadence and inventory health, with fulfillment rates raised to 80-90% to avoid stockouts [11] - New product lead times have been significantly reduced, and inventory days have been shortened due to a 10-20% SKU reduction [11] 5. **Product Portfolio and IP Strategy**: - Miniso's diversified IP portfolio is seen as a strength, helping to capture market opportunities and mitigate risks. The performance of self-owned IPs has exceeded expectations, with notable sales figures for various IPs [1][11] 6. **Future Growth Plans**: - Management reiterated a five-year growth plan with a revenue CAGR of over 20%, targeting a 25% sales growth for 2025 and an annual store count increase of 900-1,000 stores [12] 7. **Valuation and Investment Outlook**: - Current valuation is considered undemanding, with a projected low-mid teens P/E for 2025, and the company is viewed as having high growth visibility. A "Buy" rating is reiterated [2][13] 8. **Risks**: - Key risks include lower store productivity in China, geopolitical risks, and potential higher operating expenses. There are also concerns regarding the performance of Yonghui, a partner in the business [13] Additional Insights - **Market Dynamics**: - The company has faced challenges in some overseas markets due to macroeconomic factors and foreign exchange headwinds, but inventory levels remain low, with sell-through growth outpacing sell-in growth [1][2] - **Sales Performance**: - The US market has shown strong topline growth, with specific product themes like Zootopia contributing positively to sales [10][11] - **Store Expansion**: - The US market is on track to net open approximately 80 stores this year, with expectations for similar or faster additions in 2026 [10] This summary encapsulates the essential points discussed during the conference call, highlighting Miniso's current performance, future strategies, and potential risks in the retail market.

Core Insights - Walmart reported earnings per share of $0.62, exceeding the estimated $0.60, and revenue of approximately $179.5 billion, surpassing the estimated $177.4 billion, indicating strong financial performance [2][6] - The company's e-commerce segment experienced a significant growth of 28% during the third quarter, marking the seventh consecutive quarter of over 20% growth [3][6] - U.S. sales rose by 5.1% to $120.7 billion, driven by an increase in both the number of shoppers and the size of their purchases [4][6] Financial Metrics - The price-to-earnings (P/E) ratio is approximately 35.02, and the price-to-sales ratio stands at about 1.14, reflecting a strong market position [5] - The enterprise value to sales ratio is around 1.22, while the enterprise value to operating cash flow ratio is approximately 20.99, indicating solid operational efficiency [5] - The debt-to-equity ratio is roughly 0.71, and the current ratio is approximately 0.80, suggesting a moderate level of debt and short-term financial stability [5]

The final full week of trading for the month of November will bring investors two crucial earnings reports and the restoration of the September jobs report, which will set the tone for the year's final weeks of trading. Results from Nvidia (NVDA) after the close on Wednesday and Walmart (WMT) on Thursday morning will provide an update on the AI trade and the US consumer, which have offered investors reasons for enthusiasm and caution in the last few weeks. This past week, US stocks battled their way back ...