Market research firm Counterpoint Research reported a 5% year-on-year growth in the global smartphone market in October, marking the first growth after a 27-month contraction. This growth was primarily driven by a resurgence in emerging markets, Huawei’s successful return in China, and Apple’s launch of the iPhone 15 in September. Counterpoint Research anticipates that the …
An exterior view of a Lowe’s home improvement store. Lowe’s Companies, Inc. reports quarterly earnings on Tuesday, May 23, 2023. Paul Weaver | Lightrocket | Getty Images In a recent announcement, Lowe’s revealed that its full-year sales outlook has been reduced, citing decreased spending by customers on do-it-yourself projects. Its fiscal third-quarter sales plunged almost …
CEOs are increasingly using the word “choiceful” to describe consumer spending behavior and their company strategy. In 2023, the term “choiceful” has appeared in 15 quarterly earnings calls for S&P 500 companies, a significant increase from just two mentions in 2021, based on a CNBC analysis of FactSet transcripts. CEOs of major companies like Walmart …
A Home Depot store in Livermore, California, US, on Thursday, May 12, 2022. Home Depot Inc. is scheduled to release earnings figures on May 17. Photographer: David Paul Morris | Bloomberg | Getty Images Home Depot’s quarterly sales have dropped by 3% compared to the previous year, however, they exceeded Wall Street’s expectations due to …
Consumers displayed unexpected strength in September, surpassing expectations by boosting retail sales despite concerns about a weakening economy and high interest rates. According to the advance report released by the Commerce Department on Tuesday, retail sales increased by 0.7% on the month, exceeding the estimated 0.3% growth predicted by Dow Jones. The rise in sales …
A Rite Aid store stands in Brooklyn on August 28, 2023 in New York City. Spencer Platt | Getty Images Rite Aid has filed for Chapter 11 bankruptcy protection in New Jersey, announcing plans to restructure and reduce its debt significantly. The company has reached a deal with creditors for a restructuring plan that includes …
The Swedish “buy now, pay later” pioneer said Tuesday that its new design would help users find the items they want by using more advanced AI recommendation algorithms, while merchants will be able to target customers more effectively. Rafael Henrique | SOPA Images | LightRocket via Getty Images Swedish technology startup Klarna is revolutionizing the …
Starting Wednesday, consumers will have the opportunity to recoup state sales tax paid on menstrual products when purchasing certain period care items. The Tampon Tax Back Coalition is a collaboration between eight period care brands including August, Cora, LOLA, The Honey Pot, Rael, Here We Flo, Saalt, and DIVA. These brands will reimburse consumers for …
Snickers and Mars candy bars, produced by Mars Inc., sit on display. Bloomberg | Bloomberg | Getty Images Tim LeBel is Mars Wrigley’s president of sales for 11 months of the year. However, during the month of October, he assumes a different role: chief Halloween officer. For candy makers like Mars and its competitors such …
Target CEO Brian Cornell. Scott Mlyn | CNBC Target CEO Brian Cornell held a meeting with President Joe Biden on Thursday to discuss U.S. consumers and the economic landscape. Cornell was joined by other industry leaders including Brendan Bechtel, CEO of Bechtel Group; Calvin Butler, CEO of Exelon; Kenneth Chenault, chair and managing director of …