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Macy’s upgrades guidance after earnings fall in Q3
Macy’s has reported a 61% fall in net income for the third quarter (Q3) of 2025 despite beating its sales and earnings guidance. The American department store group said net income dropped to $11 million in the 13 weeks ended 1 November from $28 million in the previous corresponding period, and diluted earnings per share (EPS) fell to four cents from 10 cents on revenue, which was barely changed at $4.913 billion. Macy’s said net sales of $4.7 billion, sales growth of 3.2% on a comparable owned-plus-licensed-plus-marketplace basis and adjusted diluted EPS of nine cents exceeded prior guidance. The company also upgraded annual guidance for adjusted EPS to between $2.00 and 2.20 from $1.70 to $2.04 and for net sales to be between $21.475 billion and $21.625 billion from $21.15 billion to $21.45 billion. “Our third quarter sales were the strongest in 13 quarters, reflecting the acceleration of our Bold New Chapter strategy and demonstrating that the meaningful enterprise-wide changes we’ve made are resonating with customers,” Chairman and Chief Executive Officer Tony Spring said in a statement. “As we enter the holiday season, we are well-positioned with compelling new merchandise and an omni-channel customer experienc
Retail
American Eagle raises forecasts after strong Q3
American Eagle shares jumped 11.1% after hours on Tuesday (Wednesday AEDT) after the company raised its full-year forecast following better-than-expected Q3 earnings. The clothing company saw total revenue increase by 6% to a record US$1.4 billion, driven by a total comparable sales increase of 4%with positive increases across all brands. Aerie led the growth with comparable sales rising by 11%. American Eagle comparable sales increased by 1%. Earnings per share came in at 53 cents and surpassed expectations of 44 cents per share. This also beat the 41 cents per share the company reported the same time last year. These Q3 earnings are the first time investors are seeing a full quarter of impact from American Eagle’s campaigns with Sydney Sweeney and Travis Kelce. American Eagle told CNBC that the campaigns are “attracting more customers” and creating more attention around the brand, but the results show they have not yet been a major revenue driver. American Eagle’s operating margin reached 8.3%, which surpassed analysts' expectations of 7.5%. Following a strong third quarter, American Eagle executive chairman of the board and CEO, Jay Schottenstein, said this strong momentum has continued into the fourth q
Retail
US Cyber Monday online sales to hit $14.2bn
United States Cyber Monday spending is set to rise 6.3% to reach US$14.2 billion, driven by home goods sales and greater use of Buy Now Pay Later. Consumers’ online Black Friday spending was $11.8 billion, surging 9.1% from last year, according to Adobe Analytics. It projected ahead of the holiday season that U.S. online sales would be $253.4 billion in November and December. “Over half (53.7%) of online spend this season will be driven by three categories including electronics ($57.5 billion, up 4% YoY), apparel ($47.6 billion, up 4.4% YoY) and furniture ($31.1 billion, up 6.5% YoY),” Adobe wrote. “Adobe expects an uptick in purchases for the home this season, as consumers take advantage of deals to upgrade their living spaces.” Sales of power tools and home security products are expected to rise year-over-year by more than 1,000% each over November and December. Buy Now Pay Later is also set to drive $20.2 billion in online spending across the holiday season, according to Adobe. This is an 11% increase year-over-year, and would include a record $1.04 billion on Cyber Monday. AI-based online traffic to U.S. retailers is projected to rise by 670% year-over-year in November and December, stemming from chatbots and
Retail
Metcash not giving up the smokes as sales plunge
Metcash has laid bare the impact of the crime-riven illegal tobacco market by revealing an unprecedented 25% plunge in sales of tobacco in the first half of the 2026 financial year (H1 FY26). But the company has not given up on its largest product category, disclosing it recently won a tobacco supply contract from BP worth about $60 million in annual sales. The wholesale distributor said tobacco sales fell to A$637.8m (US$417.2 million) in the first half of the 2026 financial year (H1 FY26) from $983.4 million in 1H25 as it posted a flat group profit for H1 FY26. “The rate of decline in tobacco sales accelerated following the introduction on 1 July 2025 of new regulations impacting the legal tobacco market,” Metcash said. The business had continued to manage the decline well and was assisting the independent IGA supermarkets it supplies to transition away from tobacco sales. Metcash announced a 0.3% lift in reported profit to $142.2 million and a 5.9% drop in underlying profit to $126.7 million on revenue, which increased just 0.1% to $8.5 billion, or 0.4% to $9.6 billion if including charge-through payments from retailers, in H1. Revenue excluding charge-through sales would have grown 4.5% without the fall in to
Retail
AI tools drive increase in Black Friday sales
American consumers spent US$11.8 billion (A$18.08 billion) online this Black Friday, with much of this driven by AI-powered shopping tools. This was record spending according to Adobe Analytics and marks a 9.1% increase from 2024, when consumers spent US$10.8 billion online. The spending growth on the biggest sale day of the year as Christmas budgets tighten, unemployment nears a four-year high, and U.S. consumer confidence reaches a seven-month low. Reuters also reported that this sets the stage for an even bigger surge on Cyber Monday, which is projected to drive US$14.2 billion in sales, a 6.3% rise year-over-year. For the total shopping season, Adobe is projecting US$253.4 billion in spending this year, compared to US$241.1 billion in 2024. In the period from 1 November to 28 November, Adobe reported that there was a 7.1% rise in spending from last year to US$111.4 billion. Adobe also found that AI is changing how consumers shop, predicting traffic from AI sources to retail sites to increase by 515% to 520% from the 2024 holiday season. Traffic from AI sources already grew 805% year-over-year from 1 November to 28 November. Salesforce also had similar findings as it reported that between Thanksgiving an

Retail
Supermarket sales go up in illicit smoke
Images of tobacco stores destroyed by fire have become increasingly common on Australia’s television screens in recent years as a criminal turf war rages. The gang violence is not just damaging property and threatening the safety of the public, it has cost some of the nation’s biggest retailers billions of dollars in lost sales and the government $6.7 billion in lost excise. The growing illicit tobacco market is estimated to be worth $2.5 billion to $4.5 billion a year, but if priced as legal cigarettes, it would sell for $7 billion to $9 billion, based on official estimates of the excise evaded. Australia has the highest legal cigarette prices in the Australia-Pacific region, according to FTI Consulting’s Illicit Tobacco in Australia 2024 report, with illicit loose-leaf (unbranded) tobacco selling for 21.1% of the cost of a legal 25-cigarette packet. The price of legal tobacco products in Australia increased by more than 11.5% in 2024, driven in part by ongoing increases in excise rates. “As legal tobacco prices continue to rise in combination with ongoing cost-of-living pressures, more consumers are turning to illicit tobacco as a cheaper alternative,” FTI Consulting said. Consumers have been buying more and mo
Retail
K-Beauty sales rocketing in the US thanks to TikTok
Sales of Korean cosmetic products are creating a retail race in the United States as social media pushes the products to a new, Western audience. Sales of these cosmetic and skin care products, commonly known as k-beauty, have skyrocketed in the States as platforms like TikTok popularise them. New research found that k-beauty sales are forecast for a 37% increase this year, compared to 2024, to the tune of over US$2 billion.Credit: NIQ Social media has been the driving force behind this explosive popularity, as influencers, celebrities and fashion mastheads discuss or market their latest favourite Korean sheet mask and cushion foundation. While 70% of k-beauty transactions happen online, brick-and-mortar shops are determined to get a piece of the pie as well, with traditional retailers in the U.S. fighting to catch up. In July of this year, Ulta Beauty launched K-Beauty World, and reported a 38% increase in Korean skin care sales for Q1. Other big name brands that aren't solely dedicated to cosmetics and skin care are hopping on the k-beauty train too, with Costco stocking a massive 52 k-beauty brands in it's stores. This boom is being helped along by the recent easing of trade tensions between Seoul and Washingt
Retail
Black Friday sales strong despite economic worries
Black Friday sales have kicked off in the United States, but consumer confidence is low, and tariffs are high. Following the recent record-breaking government shutdown, American consumer confidence is at its lowest point in months, since President Donald Trump first announced his broad suite of tariffs back in April. The research from The Conference Board, released this week, found that for the month of November, consumer confidence “fell sharply” and that spending plans for big-ticket items over the next six months declined as well, despite Black Friday sales typically serving as a key time for these larger purchases. Tariffs are also still impacting businesses looking to trade this sale season, with shipments of some holiday merchandise being organised early to try and avoid the full tariff effect, but some expenses have inevitably been passed on to consumers. However, analysts remain optimistic overall, with the largest retail trade group in the U.S. forecasting an increase in sales spending. The National Retail Federation is estimating an increase of 3.7-4.2% compared to last year, to the tune of just over US$1 trillion, which would be a new record. "The economy has continued to show surprising resilience in
Retail
Puma jumps 17%; China's Anta eyes full acquisition
Puma shares have surged more than 17% after reports emerged that Chinese sportswear giant Anta Sports Products is exploring a potential takeover of the struggling German firm. Anta is reportedly working with an adviser to evaluate a bid and may partner with a private equity firm to execute the deal, according to Bloomberg. The news sent Puma’s Frankfurt-listed stock climbing to near €20 per share, providing a brief respite for a company that has seen its market value slashed by >60% this year. Other potential suitors are also circling the German manufacturer, with Chinese rival Li Ning Co. and Japan’s Asics Corp. both linked to early-stage interest. "Anta Sports is working with a financial adviser to evaluate an acquisition bid for Puma SE," sources close to the matter told reporters, noting that deliberations remain preliminary.The race for PumaThe potential acquisition would add a major global heritage brand to Anta’s expanding portfolio, which already includes Fila’s China operations, Jack Wolfskin, and a controlling stake in Amer Sports - the parent company of Arc’teryx and Salomon. Anta’s track record for big-ticket M&A is well established. In 2019, the Hong Kong-listed group led a consortium to acquire Amer