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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.
Retail
Elliot Management's stake sends Lululemon soaring
Activist investor Elliot Management has built a stake of more than US$1 billion (A$1.51 billion) in Lululemon, causing its stock to soar. Following reports of the $1 billion stake, Lululemon shares rose nearly 8% in early trading on Thursday, while Elliot Management is working with Ralph Lauren executive Jane Nielson for a potential CEO role. This comes as the athleisure brand's current CEO, Calvin McDonald, announced he will step down from his role on 31 January 2026. Lululemon joined a string of retailers cutting their full-year earnings guidance in response to U.S. President Donald Trump’s tariffs, in fears of a slowing economy. In the third quarter, the company found itself especially struggling to build growth in the Americas, its largest market. Over the past year, Lululemon's stock has plunged 44.42%, underscoring investor concerns over the company’s struggles. The activist investor has been working closely for months with Nielsen, a retail veteran, a source told Reuters. "Lululemon is one of the most powerful brands in retail, defined by exceptional products, deeply engaged communities and significant global potential,” Nielsen said. "I would welcome the chance to discuss this opportunity with the L

Retail
Costco results beat expectations; shares slip 0.5%
Costco exceeded fiscal first-quarter expectations on Thursday amid continued momentum as shoppers seek value across grocery, household and discretionary categories. Costco reported earnings per share of $4.50, ahead of the $4.27 expected. Revenue reached $67.31 billion, slightly above forecasts of $67.14 billion and up from $62.15 billion in the prior corresponding period (pcp). The company does not issue a full-year outlook and is expected to provide additional commentary during its earnings call at 5 pm ET (9 am AEDT). Sales rose 8.2% year on year to $65.98 billion from $60.99 billion. The warehouse club has attracted new members and lifted sales both in-store and online as U.S. consumers across income brackets continue to prioritise value. Younger customers have also driven growth, with heightened sign-ups boosting membership revenue. Costco further benefitted from a membership fee increase in the U.S. and Canada, which took effect in September 2024 and has flowed through as new and renewing members paid higher rates. Net income for the three months to 23 November rose to $2 billion, or $4.50 per share, up from $1.80 billion, or $4.04 per share, a year earlier. Comparable sales rose 5.9% in the U.S. and
Retail
Home Depot outlook misses as housing slows
Home Depot’s sales and profit outlook for the next fiscal year fell short of estimates, as demand wanes amid a flagging housing market. The company projects same-store sales growth will be flat to 2% for fiscal 2026, below the average of LSEG estimates of 2.34%. Adjusted earnings per share growth would be flat to 4%, below estimates of 5.6%. "We are focused on growing sales and delivering exceptional shareholder returns, supported by our culture and values," said Home Depot CEO Ted Decker. "The investments we've made over the last several years have further strengthened our distinct competitive advantages and position us well to grow share in an approximately US$1.1 trillion total addressable market.” If the housing and home improvement markets recover, the company’s comparable sales growth could be around 4-5% next fiscal year, it said. It expects earnings per share growth in the mid to high single digit percentages in that scenario. “Our Market Recovery Case reflects our performance expectations once we see momentum in housing activity and increased spend on larger projects driven by pent-up demand. We believe that the pressures in housing will correct and provide the home improvement market with support for growth f
Retail
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