Melissa Repko
@melissa_repko
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Retail reporter @CNBC. I post here rarely, so find me on LinkedIn or reach me at [email protected].
New York, NY
Joined April 2012
Worth noting Target’s report is at odds with Walmart’s quarterly report yesterday. Walmart has seen improving sales trends with discretionary merchandise. https://t.co/srxUNIYn49 $WMT
cnbc.com
The discounter will deliver its latest sales results as inflation cools and the holiday season heats up.
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Just in: Target cuts forecast after discounter posts its biggest earnings miss in two years. $TGT
cnbc.com
Target missed on earnings and revenue even as it cut prices on thousands of items, including milk, diapers and toys, to try to attract discerning shoppers.
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“We do source from several Asian countries, so we’re watching it closely,” McPhail said. “We’ve been focused on diversifying sourcing for years, and we’ll continue to assess sourcing decisions going forward.” $HD
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On President-elect Trump’s proposed tariffs: Home Depot CFO Richard McPhail told me most of the company’s goods come from North America. But he said it is monitoring the plan, since it sources from several Asian countries & Mexico. $HD
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Just in: Home Depot’s sales are improving, but it says consumers are still cautious about spending. The company posted its 8th consecutive quarter of declining same-store sales. $HD
cnbc.com
Home Depot is mired in a sales slump as homeowners put off major projects.
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As $CVS $WBA cut back, $WMT is now an even bigger player in pharmacy, taking on $AMZN pharmacy, with delivery. via @melissa_repko @annikakimc
cnbc.com
Walmart will start delivering medications in six states, but plans to offer prescription delivery in nearly every state by the end of January.
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Walmart-owned Sam's Club is testing a future without checkout lines. That’s one of several digital features that’ll be in its newest club, which opens mid-October in the Dallas area. $WMT
cnbc.com
The retailer's newest location doubles down on Sam's Club's bet on digital to drive growth and compete with Costco.
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Just in: Target beats on earnings and revenue, but gives cautious sales outlook for the year. $TGT
cnbc.com
The discounter's sales rose as shoppers made more visits to Target's stores and website.
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Just in: Lowe's cuts its full-year outlook as it expects home improvement sales to weaken. $LOW
cnbc.com
Lowe's said customers took on fewer discretionary home projects and unfavorable weather hurt sales of outdoor and seasonal items.
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Walmart CFO to @melissa_repko: "We don't see any additional fraying of consumer health." Raises guidance. Shares look to open at an all-time high. $WMT
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Home Depot expects sales to weaken more as consumer demand eases @melissa_repko reports
cnbc.com
Home Depot's CFO said homeowners are now deferring projects due to a "sense of greater uncertainty in the economy."
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A stunning stat from @melissa_repko's piece on how Macy's massive store closures will effect malls across the U.S. She notes that Macy's "has closed more than a third of its namesake stores over the last 10 years"
cnbc.com
Macy's namesake stores have long served as an anchor for malls across the country, and its plans to close many of them will lead to widespread change.
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Macy’s will leave a lot of giant, empty spaces behind when it shuts about 150 stores. I took a closer look at what those former mall anchors may become:
cnbc.com
Macy's namesake stores have long served as an anchor for malls across the country, and its plans to close many of them will lead to widespread change.
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“Customers only have so much attention.” Amazon’s CFO Brian Olsavsky said distraction from the Olympics and Trump assassination attempt contributed to the company’s weak forecast, @annierpalmer reports.
cnbc.com
Amazon CFO Brian Olsavsky told reporters after the company's earnings report that "we do see different traffic patterns during those events."
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Kohl’s is betting on babies to drive its turnaround. I visited one of its stores to see its Babies R Us shop, which it is opening in 200 stores. $KSS
cnbc.com
Kohl's wants to cater more to young families and give them another reason to visit its stores through the Babies R Us shops.
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Wild story that captures the dynamics of Amazon & other retailers’ 3P marketplaces…. Amazon sellers lost coveted buy box ahead of Prime Day because their prices were lower on Target’s website, @annierpalmer reports.
cnbc.com
Target's discounting event this week wreaked havoc on some third-party merchants, who say they lost sales on Amazon because of the way prices were promoted.
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Just in: Costco hikes its membership fee for the first time since 2017. $COST
cnbc.com
Costco will hike its annual membership fees by $5 in the U.S. and Canada starting Sept. 1.
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Just in: Walmart is opening five automated distribution centers for fresh food across the U.S. The retailer is modernizing its supply chain as more of its customers order groceries online. $WMT
cnbc.com
The facilities are part of Walmart's broader effort to modernize its supply chain and expand capacity to keep up with customers' online orders.
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Inflation may be cooling, but consumers’ outrage about higher prices is still going strong. @Thxamelian and I took a closer look at the pressure retailers and restaurants are now under to offer better deals.
cnbc.com
Customers' deep frustration with higher prices has pushed many retailers and restaurants to step up discounts, promotions and value meals.
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Costco’s Kirkland Signature has a devoted fan following. Walmart-owned Sam's Club is trying to better compete by raising the bar on its own private brand, Member’s Mark. $WMT $COST https://t.co/HUxUjMv0nN
cnbc.com
Walmart-owned Sam's Club is trying to raise the quality of its Member's Mark private brand and compete with Costco's Kirkland Signature.
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