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Retail
Walmart reaches a market cap of over US$1 trillion
Walmart has crossed the US$1 trillion (A$1.426 trillion) market cap threshold, joining an exclusive club typically occupied by big tech firms like Nvidia and Alphabet. At the end of Tuesday, the largest grocer in the United States reached a market cap of US$1.02 trillion while shares closed 3% higher at US$121.71. According to TradingView, shares for the company have risen 31.97% over the past year and 14.62% since the start of 2026 at the time of writing. While the grocer continues to appeal to those looking for a bargain, its online offerings are drawing in new, wealthier shoppers seeking convenience. “It’s been a massive digital transformation that Walmart’s gone through over the last few years,” chief investment officer at Accuvest Global Advisors, Eric Clark, told Bloomberg. “They’ve pivoted away from being just a traditional brick-and-mortar retailer to using technology to drive more engagement.” Walmart has also pushed to incorporate AI across its operations, and it is already using the technology to speed up tasks ranging from scheduling to supply chain management. This also follows the company partnering with Alphabet to offer AI-enhanced shopping on Google’s Gemini platform and teaming up with OpenAI
Retail
Levi Strauss earnings beat analyst expectations
Levi Strauss beat Wall Street estimates in its latest earnings report for Q4 2025, with higher sales and profit. The positive results were driven by strong demand for its wide-legged jeans despite pressure from higher United States import taxes, which dampened consumer spending in the country. “Our success in denim lifestyle has enabled us to expand our addressable market, positioning us for mid-single digit growth in 2026 and beyond,” Levi Strauss chief financial and growth officer Harmit Singh said. During the fourth quarter, net revenues rose 1% year-over-year to US$1.8 billion. This also surpassed analysts' estimates of US$1.71 billion Despite this, net revenue in the Americas decreased by 4% on a reported basis, driven by a 7% decrease in the U.S. alone. However, net revenues grew in other markets, including Europe and Asia, by 8% and 2%, respectively. Diluted earnings per share (EPS) came in at US$0.40, down from US$0.45 in Q4 2024. However, this was still ahead of the 39 cents per share expected by analysts. Net income also dipped from US$180 million in Q4 2024 to US$160 million in 2025. Full year net revenues were up 4% year-over-year to US$6.3 billion, and diluted earnings per share rose to US$1.26
Retail
Amazon closes physical stores, will expand Whole Foods
Amazon will close its Amazon Fresh and Amazon Go stores as it aims to expand its Whole Foods Market grocery business. The company plans to open more than 100 new Whole Foods locations over the next few years, it said. Amazon acquired Whole Foods in 2017. “While we've seen encouraging signals in our Amazon-branded physical grocery stores, we haven't yet created a truly distinctive customer experience with the right economic model needed for large-scale expansion,” wrote Amazon. “After a careful evaluation of the business and how we can best serve customers, we've made the difficult decision to close our Amazon Go and Amazon Fresh physical stores, converting various locations into Whole Foods Market stores.” Whole Foods will also expand its smaller-format Daily Shop locations, with five new stores to open this year. Amazon Fresh will continue to be available for grocery delivery in certain areas. Amazon is aiming to find employees at Amazon Go and Amazon Fresh stores roles elsewhere in the company, it said. Amazon will add perishable groceries to its Same-Day Delivery service in new cities and towns this year, having first begun doing so in 2025. Whole Foods currently operates more than 550 locations, with Amazo
Retail
Anta sport takes almost 30% stake in Puma
China’s biggest sportswear brand, Anta Sports Products, announced it will be taking a 29.06% stake in Puma, valued at €1.5 billion (US$1.8 billion). The deal is expected to help the German brand in its recovery and increase its sales in China while helping Anta become a more globalised business. According to Anta board chairman Ding Shizhong, the acquisition will make ANTA the largest shareholder of Puma. “Working with PUMA, we look forward to learning from each other and joining hands to fully unlock the brand’s full potential,” Shizhong said. “This will further accelerate ANTA Sports’ globalisation, and help drive the next chapter of growth for the global sports markets including China – creating lasting value for both companies’ consumers and shareholders worldwide.” Anta also made it clear that it has no current plans to make a takeover offer, which would be required under German securities law at 30% ownership. The deal is expected to close by the end of the year and comes as Puma has struggled to revive sales and follow through on a business overhaul after Arthur Hoeld, a former Adidas executive, took the reins last year. This follows a pattern of Anta acquiring and revamping Western sports and lifestyle
Retail
Nike plans to cut 775 employees, accelerate automation
Sportswear brand Nike said it will cut 775 employees as the company looks to boost its bottom line and accelerate its use of “automation”. According to CNBC, the layoffs are in addition to the 1,000 corporate job cuts Nike announced last summer and will primarily impact distribution centre roles in Tennessee and Mississippi, where the company operates large warehouses. The sneaker giant said the layoffs will primarily affect its U.S. distribution operations and are designed to “reduce complexity, improve flexibility, and build a more responsive, resilient, responsible, and efficient operation”. “We are sharpening our supply chain footprint, accelerating the use of advanced technology and automation, and investing in the skills our teams need for the future,” Nike told CNBC in a statement. The company added that the cuts are part of Nike’s goal to get back to “long-term, profitable growth” and improve margins. This comes as Nike CEO Elliot Hill works to turn around the company following years of slowing sales and shrinking margins. These struggles follow John Donahoe’s, the company’s previous CEO, pursuit of a direct selling strategy that prioritised the retailers' stores and websites over wholesale partners. D

Retail
Aldi plans to expand operations in the US
Aldi has committed to opening more than 180 stores in the United States by the end of 2026 as it celebrates its 50th anniversary in the country. According to the company, this expansion will increase its reach to 2,800 stores by the end of 2026, bringing the discount grocer closer to its goal of 3,200 stores by the end of 2028. This follows the German company's biggest expansion since it opened in the U.S. when it added nearly 200 locations last year. In its five-year plan, Aldi said it planned to enter the Colorado market with 50 stores set to open in Denver and Colorado Springs within the first two years. The company also plans to continue its commitment to invest US$9 billion in the U.S. through 2028, scaling its operations with plans for new distribution centres in Florida, Arizona and Colorado. "These strategic investments are all about making sure customers can continue to count on us for the quality, affordable groceries and enjoyable shopping experience they love," Aldi U.S. CEO Atty McGrath said. "As we look ahead to our next 50 years in the U.S., we'll continue to earn shopper loyalty by staying true to what's made ALDI successful: keeping things simple and delivering real value." Aldi also detailed
Retail
Saks Global CEO steps down amid possible bankruptcy
Saks Global CEO Marc Metrick has stepped down as the company faces possible bankruptcy. The company has named Executive Chair Richard Baker as Metrick’s successor. This follows a merger with Neiman Marcus, which is preparing for bankruptcy after missing an interest payment of over US$100 million on debt from the merger, according to The Wall Street Journal. Saks Global was acquired by rival Neiman Marcus, bringing together the department store chains to control costs amid uneven demand and better compete with rivals such as Nordstrom, Macy’s and Bloomingdale’s. It also follows Hilldun Corp. saying it would no longer back shipments to Saks Global in December. The firm represents 140 brands that sell to Saks Global and supplies it with at least US$500 million worth of product annually. Products at Saks Fifth Avenue range from about $60 for cotton rib tank dresses to nearly $20,000 for designer dresses, with handbags typically priced between $100 and $38,280, according to information on its website. The company told Business Insider it was exploring new avenues to mitigate its debt issues while still offering an assortment of products. "Together with our key financial stakeholders, we are exploring all potential
Retail
Saks Global facing bankruptcy after missed debt payment
Saks Global is gearing up to file for bankruptcy after missing a debt payment. The Wall Street Journal (WSJ) broke the news, reporting that the retail giant had missed the interest payment, which was related to acquiring Neiman Marcus. Saks took on the debt in 2024 and has been facing financial difficulties ever since, struggling with lessened interest for luxury goods, weakened sales and delays in vendors being paid. Hudson's Bay Company created the firm in July last year following its US$2.65 billion acquisition of Neiman Marcus, which it then combined with Saks Fifth Avenue, and more. The WSJ, citing sources familiar with the matter, said that Saks was looking to file for bankruptcy in the coming weeks after discussions with its creditors and missing a debt payment.
Retail
Birkenstock guidance for 2026 lower than expected
Birkenstock (BIRK: NYSE) has released its 2025 fiscal year wrap-up and its 2026 outlook, but the latter is leaving some disappointment. The shoemaker saw an increase of 16% for revenue on a reported basis, compared to the year before, along with a B2B revenue growth of 20%. Gross profit margin was up too, year on year, rising from 58.8% in 2024 to 59.1%, but still took a hit from U.S. tariffs after the Trump administration imposed a 15% import tariff on most goods from the European Union back in July. However, despite numbers looking solid for this fiscal year, Birkenstock's outlook for 2026 was reduced and fell below the expectations from Wall Street. Gross profit margin for 2026 is expected to land in the range of 57% to 57.5% and annual revenue growth between 13% and 15%, lower than fiscal 2024 and 2025. It also forecast adjusted earnings per share to come in at 1.90 to 2.05 euros, compared with Wall Street expectations of 2.08 euros. "In 2026...we expect to see more impact from tariffs in COGS (cost of goods sold) than we did in 2025," Chief Financial Officer Ivica Krolo said.