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jobsearchtips02 · 4 years

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Seattle-based Sur La Table declares insolvency, closes 50 shops

By Callie Craighead, SeattlePI

Updated. 2: 14 pm PDT, Thursday, July 9,2020

Seattle-based Sur La Table files for bankruptcy, closes 50 stores

Seattle-based Sur La Table applies for bankruptcy, closes 50 shops

Picture: Courtesy Image.

Seattle-based Sur La Table declares personal bankruptcy, closes 50 shops

Seattle-based Sur La Table declares bankruptcy, closes 50 stores

Picture: Courtesy Picture.

The Seattle-based upscale kitchenware chain Sur La Table declared Chapter 11 bankruptcy protection Wednesday and revealed strategies to close 50 of its 125 shops across the country.

” This sale process will result in a revitalized Sur La Table, placed to grow in a post COVID-19 retail environment,” said Sur La Table CEO Jason Goldberger in a press release. “Sur La Table Sur La Table will have a balance sheet and retail footprint optimized to position the Company for a brilliant future that continues our nearly 50- year tradition of using top quality cooking items and experiences to our clients.”

The pots and pans company, which began in Pike Location Market 48 years earlier, completely laid of 20%of its personnel last month, indicating the start of financial distress. However, business executives informed the Seattle Times that online sales had actually seen “record growth” throughout the pandemic as more individuals were cooking and baking from house.

The choice to restructure the business came as the retail sector took economic blows due to the COVID-19 pandemic and brick-and-mortar shop closures.

Major housewares merchant Bed Bath and Beyond announced plans to close 200 stores over a period of two years as sales fell 50%during the pandemic. Pier 1 Imports, which filed for insolvency in February, stated today that it will close all 540 stores and move to online retail just.

Shops across the country are anticipated to start closing in August and September, and a liquidation sale is expected to last 8 to 12 weeks. Both Washington places, consisting of the flagship at Pike Location and Kirkland, will stay open, according to the business’s store locator page

” We intend to create joy for our customers through cooking and sharing good food for several years to come,” the business wrote.

Tom Douglas to permanently close two South Lake Union restaurants this month

Amazon supposedly postpones Prime Day sales event till October amid rise in need

Nordstrom cuts 6,000 jobs, decreases workforce nationwide amid 40?cline in sales

from Job Search Tips https://jobsearchtips.net/seattle-based-sur-la-table-declares-insolvency-closes-50-shops/

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biofunmy · 5 years

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JC Penney, Bed Bath, Pier 1 hit as retail slumps

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The start of a new decade isn’t offering much hope for beleaguered retailers.

Traditional chains are looking increasingly frail less than a month into 2020, with vacancies piling up and few near-term prospects for a turnaround.

National chains Macy’s, J.C. Penney, Papyrus, Express and Pier 1 Imports, as well as other retailers, have collectively announced 1,218 store closures this year, according to global marketing research firm Coresight Research.

The fallout comes after a year in which retailers closed more than 9,200 stores, according to Coresight. Those included the liquidation of Payless ShoeSource, Fred’s, Gymboree and Charlotte Russe and mass closures by Family Dollar, Forever 21, Charming Charlie, Sears, Kmart, A.C. Moore and GameStop.

Retailers will likely announce plans to close more than 100 million square feet of space in 2020 for the fourth straight year, projected real estate data tracker CoStar. That’s the equivalent of about 562 Walmart supercenters.

“This year will generally be more of the same,” said Robin Trantham, a consultant for CoStar. “We expect many companies – and many sizable companies – to announce closures.”

Brick and mortar stores that we thought would never disappear are now creating empty retail landscapes.

USA TODAY

To be sure, it’s common for the industry to face a reckoning of sorts early in the year following the do-or-die holiday shopping season. About half of closures are typically announced in the first quarter, according to CoStar.

But the cascading nature of the recent closure announcements reflects a deepening crisis for retail. Some recent closure announcements include:

• Home goods retailer Pier 1 Imports announced plans to close up to 450 locations, or nearly half of its stores.

• Schurman Retail Group announced the closure of its 246 stores, including stationery and greeting card chains Papyrus and American Greetings.

• Fashion retailer Express announced plans to close 91 locations, including 31 stores by the end of January and 35 by the end of January 2021.

• Department store chains Macy’s and J.C. Penney are closing 29 and six stores, respectively.

• Bed Bath & Beyond is closing 60 locations, including 40 of its namesake locations.

With too many stores in the U.S. and chains trying to figure out the right approach, “the current decade will continue to see store closures and a repurposing of retail real estate as the retail landscape adapts to the digital era,” Coresight Research analyst Marie Driscoll said in an email.

Off to a bad start

As the new year starts, many stores are already looking ghostly. In the third week of the month, foot traffic to stores fell 4.9% compared with the same period last year. And it was down 1.4% compared with the previous week, according to Cowen retail analysts.

That came despite nice weather, which typically encourages shopping. Average temperatures were 3.8 degrees warmer last week than the same week a year earlier, and they were 6.8 degrees warmer than usual for this time of year.

More than 100 million square feet of stores are expected to close their doors in 2020 for the fourth straight year, according to CoStar. (Photo: Getty Images)

Don’t expect conditions to get much better for the retail sector later in the year, either.

The second half of 2020 poses particular challenges for the industry, according to Morgan Stanley research analyst Kimberly Greenberger, who tracks specialty retailers, department stores and footwear.

It will be “tricky with the election looming” for retailers to stand their ground, since the presidential election could cause consumers to get skittish about spending, Greenberger wrote Wednesday in a research note.

Although the “fundamental consumer backdrop is healthy,” people’s spending on discretionary items “is likely to be challenged,” Greenberger wrote.

Is your store on the list?: J.C. Penney closing more stores and a call center

Mall foot traffic underwhelms: Express closing 91 stores as fashion retailer grapples with declining sales

Even some chains that were recently thought to be on solid ground are encountering turbulence. The proposed split of Old Navy from its troubled counterpart, Gap, was called off last week amid a “lackluster performance” for Old Navy, Cowen retail analyst Oliver Chen wrote in a research note.

“The company has a lot of work ahead to drive consistent performance,” and figure out the right number of stores to keep open,” Chen said of Old Navy.

Department stores falter

Of course, digital threats remain at the heart of the retail industry’s crisis. E-commerce made up 11.2% of total retail in the third quarter of 2019, up from 4.2% during the same period in 2010, according to financial data firm Refinitiv.

Department stores, which historically set themselves apart with their wide variety of merchandise, are particularly threatened by Amazon and other digital marketplaces.

Sears and J.C. Penney, in particular, are facing the fight for their lives in 2020. Sears barely survived its recent bankruptcy filing but almost immediately resumed store closures after emerging from Chapter 11 last February.

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Some retailers are taking an if-you-can’t-beat-’em-join-’em approach. Department store chain Kohl’s won praise last year when it announced a returns partnership with Amazon that was hailed as effective insulation from digital competition because of the foot traffic it would presumably create.

But the significance of that deal is being called into question after Kohl’s surprised investors this month by reporting a same-store sales decrease of 2% in November and December. The company experienced what CEO Michelle Gass called “softness” in women’s apparel, “which we are working with speed to address.”

In an effort to lure shoppers into the store, department stores put an average of 74% of their merchandise on sale in 2019, according to Refnitiv.

Haves and have-nots

It’s not all doom and gloom for the retail sector. Retailers have announced about 500 more openings than closures so far this year, Coresight Research said.

And some retailers are capitalizing on the demise of others.

Makeup chain Ulta Beauty is projected to pick up sales as department stores continue to wither, according to Oppenheimer equity analyst Rupesh Parikh. Ulta could benefit if J.C. Penney accelerates store closures, which would affect the Sephora beauty shops located within the ailing department store.

(Photo: Ulta Beauty)

In a world of haves and have-nots, the haves are still flourishing.

Namely, Walmart and Target are still in great shape, with sales growing and profits rising for discount chains. And specialty retailers like Five Below continue to lure shoppers with low prices and convenient options.

But even they’re not immune. Target reported same-store sales growth of 1.4% in November and December, which was “below expectations,” the company said earlier this month. And Five Below reported weaker-than-expected holiday season as same-store sales fell 2.6%.

For retailers to thrive in 2020, they’ll have to place an emphasis on “building customer loyalty via authenticity and innovation through inspiring product, relevant marketing and customer-centric stores,” Chen wrote.

And they need to place an emphasis on a smooth customer experience between their digital and physical operations, including options like buy-online-pick-up-in-store.

Customers who shop in a physical store become more likely to shop at the store online, and the other way around, according to a recent study by the International Council of Shopping Centers.

For every $100 a customer spends online with a retailer, they spent $131 in-store with the same retailer within a 15-day period, according to the ICSC report.

It also works in reverse. After spending $100 in a physical store, the average customer spends $167 online with the same retailer, according to the study.

“Though many are inclined to pit e-commerce against physical retail, those retailers that offer their customers both options – a choice of shopping online and in stores – tend to boost sales in both arenas,” ICSC reported.

Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.

Read or Share this story: https://www.usatoday.com/story/money/2020/01/24/store-closings-2020-macys-jcpenney-bed-bath-beyond-express/4540886002/

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chrisdagustina · 4 years

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Store Closing List 2020: Macy’s, Pier 1, Zara, Nordstrom, and More

Between COVID-19's catastrophic impact on retail coupled with the continued rise of online shopping, 2020 has brought a store closing list that's predictably vast. According to a recent report from retail data firm Coresight Research, as many as 20,000 to 25,000 stores in the U.S. could permanently shutter this year, with more than 4,000 stores saying they'll close down this year. More than half of the closures would be situated in malls, which are already in peril but have faced particular challenges due to social distancing.

Before the health crisis, a number of retailers filed for bankruptcy and started to shutter physical locations, but in recent weeks the number has shot up. J.Crew, Neiman Marcus, and JCPenney are among the companies that filed for bankruptcy protection, while bankrupt sporting-goods retailer Modell's stopped liquidation sales and closed all its stores.

It's not all gloom and doom, though: While some of your favorite retailers are closing select locations, several plan to divert savings into a focus on e-commerce, which is the way most of us shop these days anyway.

Below, an evolving tally of store closing updates.

Bath & Body Works

Stock up on Perfect Peony body splash now: Bath & Body Works's parent company, L Brands, announced in May 2020 that 50 locations in the United States, as well as one store in Canada, will close in 2020. The closures will mostly affect mall locations. It's not all bad news for the brand: Though in-mall stores are largely going away, 26 new locations will also open this year.

Signet Jewelers

The company—which runs several familiar mall jewelry stores including Kay Jewelers, Zales, Jared, H.Samuel, and Piercing Pagoda—revealed in June 2020 plans to close 150 U.S. stores and 80 U.K. stores ASAP, and that it will close at least another 150 stores before the end of the year, citing the impact of the COVID-19 pandemic

Gap

In March 2019, Gap said it will be shuttering approximately 230 stores during the next two years due to falling sales. As of January 2020, here are the locations that have closed or are scheduled to close.

Victoria’s Secret

Controversial lingerie retailer Victoria's Secret's parent company, L Brands, announced in May 2020 that it plans to close a quarter of its stores—250 locations—in the U.S. and Canada during the next few months. The brand also said more closures could be on the horizon over the next few years. According to CNN, there are around 1,100 Victoria's Secret locations in North America.

Papyrus

Paper goods and stationery chain Papyrus filed for bankruptcy in January 2020, which prompted plans to close all of its 254 stores across the U.S. and Canada.

Fast-fashion retailer Zara was hit hard by COVID-19 and will close upwards of 1,000 retail locations.

Michele TantussiZara

In June 2020, the fast-fashion retailer's parent company, Inditex, announced plans to close between 1,000 and 1,200 stores over the next two years and divert resources into online sales strategies due to the ongoing COVID-19 pandemic. The company hasn't announced which Zara locations will be affected, but said in a statement that closings will be "stores at the end of their useful life."

Chico’s

Chico’s FAS, the parent company of the women's clothing chain, said in a 2019 press release that it will close 250 locations over the next three years and will put more effort into online sales. The company also operates White House Black Market and Soma.

JCPenney

The department store filed for bankruptcy in May 2020, and said it planned to eventually close about 30% of its 846 stores, many of which are situation in malls. Business Insider published a list in June 2020 of the JCPenney locations that will be closing as part of phase one.

Macy’s

In February 2020, department store Macy's said it will be closing 125 stores over the next three years and cutting thousands of corporate jobs. It also will be shuttering several office locations throughout the country and will consolidate customer service centers. The retailer's Manhattan location will become its only corporate headquarters.

G.H Bass and Wilson’s Leather

New York–based fashion manufacturer G-III Apparel Group Ltd. announced in June 2020 that it will permanently close all 110 Wilsons Leather and 89 G.H. Bass stores.

Pier 1 Imports

The furniture chain is planning to close 450 stores—about half of its total locations—the company announced in January 2020 amid falling sales. The retailer's CEO also said it planned to cut its corporate head count and shut down select distribution centers.

Destination Maternity

In 2019, it was announced that 183 Destination Maternity locations will close after the company filed for Chapter 11 bankruptcy protection. Motherhood Maternity and A Pea in the Pod also fall under the retailer's parent company and will be affected. USA Today published the list of closures the same year they were announced. Online retail is up and running under Motherhood Maternity.

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Buy NowModell’s

As of March 2020, bankrupt sporting-goods retailer Modell's stopped liquidation sales and closed all of its stores, according to Crain's.

Express

In early 2020, fashion retailer Express said it will close 100 stores by 2022.

Nordstrom

Nordstrom announced in June 2020 that it will permanently close all three Jeffrey designer apparel stores (which it owns) in addition to the 16 Nordstrom department stores it plans to shut down.

New York & Company

The apparel chain's parent company, RTW Retailwinds, revealed plans to close 27 stores in its portfolio in 2020, including 19 New York & Company locations, four Fashion to Figure stores, and four New York & Co. outlets.

A.C. Moore

Craft-store chain A.C. Moore plans to close all 145 of its stores in 2020, according to an announcement made by its parents company, Nicole Crafts, in November 2019. The company said it plans to acquire and convert around 40 locations into Michaels craft stores, a former competitor of A.C. Moore.

Forever 21

In October 2019, the fast-fashion mega-chain announced it would be filing for Chapter 11 bankruptcy and planned to close up to 178 U.S. locations. “The decisions as to which domestic stores will be closing are ongoing, pending the outcome of continued conversations with landlords,” a spokesperson for the retailer told Glamour in 2019. However, a month later, the company said it planned to reduce the U.S. closures to 88 locations. E-commerce for the retailer is business as usual.

The Children’s Place

Kids' apparel retailer The Children’s Place announced in June 2020 that it will close 300 of its 920 stores in the United States, Canada, and Puerto Rico, with 200 planned for this year and 100 for 2021. E-commerce will be the company's focus.

Bose

Electronics brand Bose is closing all of its 119 stores in the U.S., Europe, Japan, and Australia and will focus on online retail. According to Business Insider, approximately 130 locations will remain open in China, the United Arab Emirates, India, and South Korea.

Guess

Apparel and accessories brand Guess plans to close approximately 100 stores in North America and China over the next 18 months.

Tuesday Morning

Closeout discount decor chain Tuesday Morning filed for bankruptcy and plans to shut down around 230 of its nearly 700 locations in the coming months. "The prolonged and unexpected closures of our stores in response to COVID-19 has had severe consequences on our business," said CEO Steve Becker in a news release.

GameStop

In 2020, the video-game chain said it expects store closures "to be equal to or more than the 320 net closures we saw in fiscal 2019 on a global basis. "

Bed, Bath & Beyond

The home-goods giant announced plans to close dozens of stores in at least eight U.S. states in 2020. See the list of closures here.

Puredown All Seasons Down Comforter

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Buy NowSears & Kmart

In November 2019, Sears revealed plans to close 96 stores in February 2020, including 51 Sears locations and 45 Kmart stores. (The chairman of Kmart purchased Sears for $11 billion in 2004.)

Hallmark

Business Insider reported that at least 16 Hallmark-branded stores in 12 states would close in the first half of 2020, according to local reports and social media posts by store owners.

Starbucks

In June 2020, the coffee giant said it will close up to 400 company-owned stores in the U.S. and Canada over the next 18 months, as it rolls out new-format stores and makes other changes better suited to quick pickup and convenience.

Know More

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preciousmetals0 · 5 years

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Divining Dow Headlines; Bob’s Your Uncle at Disney

Divining Dow Headlines; Bob’s Your Uncle at Disney:

Getting Sentimental on the Dow

Ever have one of those mornings when you read headlines from the major financial publications … and you nearly spit your coffee all over?

I had one of those this morning. I watched as the headlines trended from “Dow Rallies 250 Points in Recovery Rally” to “Dow Rallies 200 Points” … to “Dow Up 100 Points” … then back to “Dow Rallies 350 Points”…

You get the picture.

When it comes to spit takes, there’s nothing like Dow headlines following a market rout. (I don’t know why I find this funny. I know I’m not right in the head. It’s why you like me … right?)

Now, I’m not one of those fervent Dow watchers — at least where the economy’s concerned. The Dow has long been disconnected from the actual U.S. economy. No, I view the world’s most-tracked market average as more of a sentiment indicator.

I follow the Dow for the same reason I follow the CBOE Volatility Index (VIX) — as an indicator of market fear or market complacency. The more the Dow appears in financial headlines, the more I know that market sentiment is shifting.

With the financial media reporting on every 50-point move in the Dow this morning, I know that fear has returned to the market in a big way. Recent VIX activity confirms this, as the “fear index” is up roughly 48% since Friday’s close.

That’s a considerable jump, and it may lead you to conclude that the COVID-19 outbreak is now priced into the market. I’m not convinced that’s true.

For instance, the Federal Reserve doesn’t seem to be taking COVID-19 very seriously. Cleveland Fed President Loretta Mester recently said that she has priced the virus into her forecasting model, but still projects “healthy consumption growth” and a “pickup in investment spending.”

Investment spending with this much uncertainty? Have you met U.S. businesses?!

Elsewhere, Fed Vice Chairman Richard Clarida said that it was “too soon to even speculate” about the virus’s impact. He said this to the National Association for Business Economics … right after speculating that the virus would considerably impact China’s first-quarter economic growth.

The Takeaway:

So, it’s too soon to speculate, but you’re still speculating … and that speculation isn’t good.

Let’s put that speculation in perspective.

Remember the SARS outbreak? When it hit China back in 2003, the Chinese economy only accounted for about 4% of global gross domestic product (GDP). The country was a blip on the radar back then.

However, the Chinese economy now accounts for close to 19% of global GDP. China’s economy was basically shut down due to COVID-19, and it’s still struggling to fully come back online. That’s pretty far from a blip. That’s a considerable impact on the global economy.

I’m all for “Rah-rah, go U.S. economy!” After all, we have the lowest unemployment rate in decades, consumer spending is strong, the housing market is on fire … but the Fed needs to take notice of what’s going on outside of U.S. borders.

The COVID-19 situation will take the shine off this rosy U.S. economy. The coronavirus correction isn’t over, and somebody needs to tell it like it is.

If that “somebody” is Great Stuff and not the Fed … so be it.

Good: To the Maxx

I’m starting to think that the “retail apocalypse” isn’t real … or, at least, it’s not quite the narrative we’ve been sold. I mean, sure, you have your struggling companies like Bed Bath & Beyond Inc. (Nasdaq: BBBY). But then you have retailers like TJX Cos. Inc. (NYSE: TJX).

TJX runs T.J.Maxx, Marshalls and HomeGoods stores, and the company is killing it right now. The retailer reported that fourth-quarter earnings spiked 19.1% year over year to $0.81 per share, as revenue rose 9.9% to $12.2 billion. Both figures easily beat Wall Street’s targets.

Furthermore, TJX said that same-store sales grew 6% on the quarter, nearly doubling the consensus estimate for 3.1% growth.

But wait … there’s more! The company also announced plans to hike its dividend 13% and repurchase $1.75 billion to $2.25 billion in stock.

That said, TJX was cautious in its outlook, but nowhere near as negative as other retailers. The company’s first-quarter and full-year guidance puts the top of those earnings ranges about $0.02 per share below Wall Street’s views. Not too shabby considering COVID-19 fears.

Better: What About Bobs?

It’s the circle of life. Bob Iger is now officially the former CEO of The Walt Disney Co. (NYSE: DIS).

Last night, Iger suddenly announced his departure from Disney after leading the company for 15 years. “We’re not concerned at all about creating any confusion,” Iger told a confused Wall Street. But it’s not like investors didn’t see this one coming.

At last year’s investor day meeting, Iger told attendees: “2021 will be the time for me to finally step down.”

It seems that Bob moved his time frame up just a bit — after repeatedly moving it back in years prior. Still, Iger leaves behind a considerable legacy, including the acquisitions of Star Wars, Marvel, Pixar and Hulu, as well as the Disney+ launch.

So, who’s replacing Bob? Well, Bob, of course.

Stepping in to fill Iger’s rather large shoes is Bob Chapek, the former head of Disney’s theme park business. Chapek bills himself as a direct-to-consumer kind of guy: “Everything I’ve done in my career has been about the consumer. … Parks are about as direct-to-consumer as you can get.”

While DIS investors are understandably nervous about Bob replacing Bob, Disney is in such a solid market position that it’d be difficult to mess things up at this point. And clearly, the new Bob understands Disney’s consumers very well. During the past three years, Chapek has helped push Disney’s annual park revenue growth above 10%, after it lingered in the single digits for years.

In other words, the Iger dip in DIS shares looks like a bullish opportunity. Buy DIS, and Bob’s your uncle.

Best: A Force to Be Reckoned With

There’s a lot to unpack with Salesforce.com Inc. (NYSE: CRM) today, so you might want to sit down for this.

First, the company posted stronger-than-expected fourth-quarter results. Earnings, revenue and order backlogs all exceeded Wall Street’s expectations.

But spending also topped the consensus expectation, with 14% of revenue going to research and development. Investors reacted negatively to this fact. It’s like they don’t realize that Salesforce.com is investing in itself to catch up with the Microsoft Corp.s (Nasdaq: MSFT) and the Oracle Corp.s (NYSE: ORCL) of the world.

Second, co-CEO Keith Block announced that he’ll step down. Block is staying on as an adviser for CEO Marc Benioff, so this news isn’t all that big of a deal for CRM investors. Still, news of CEOs departing is typically a bearish driver for stocks.

Third, Salesforce announced that it’s buying industry cloud mobile software company Vlocity Inc. for $1.33 billion. Vlocity strengthens Salesforce.com’s presence in the cloud mobile market. And, according to Ray Wang of Constellation Research: “It keeps Google from buying them and could generate $10 billion in additional industries revenue growth.”

So, we have heavy spending, a retiring CEO and an acquisition all in one day for Salesforce.com. However, CRM shares only lost about 2%, so more than a few investors see the value in the company’s heavy spending on growth. If you haven’t already, CRM is worth looking into.

I knew that I was right! Great Stuff readers are some brave souls. Last week, we asked you how you felt about options trading. 41% of you want to know more about options, and 40% of you want options trades now!

I hear you loud and clear! For those who want more options, I have a bit of a treat coming for you next week. Starting Wednesday, March 4, we’re giving you three days of Options 101 … Great Stuff style.

We’ll round out on Friday with one of our favorite options strategies … and maybe we’ll even sneak in a trade idea! (Market willing…) So, be sure to tune in!

Now, on to today’s poll of the week:

Great Stuff: Your Bloodbath Bath Bomb

Are you enjoying this week’s bloodbath? I’m relaxing in mine with a lavender-and-lemon bath bomb.

I joke, but I’m sure it’s been painful for your portfolio. Sometimes the laughter is all that keeps us going. Just remember: It’s not the end of the world.

If you’re looking for a pick-me-up, a video featuring experts Jeff Yastine and Ian King caught my attention this week: “Coronavirus Hits South Korea, Italy — Fearless Investors Will Prosper.”

[embedded content]

If you haven’t watched it yet, I won’t spoil the ending for you! (I won’t lie, it’s a tear-jerker.)

Needless to say, Ian King’s optimistic perspective was contagious. He’s always thinking about innovation, change and what the world will look like 10 years down the line.

Much of these trends rely on now-weakened supply chains in China and South Korea … but this virus isn’t strong enough to stop world-changing technologies such as artificial intelligence, 5G and Big Data — exactly the tipping-point trends that Ian focuses on.

So get up, I say. Get up! You’re not dead yet. You’re not going on the cart!

I truly believe that, if you’re positioned to ride these huge tech trends in the years to come, this week’s volatility is nothing more than a chance to load up at a discount. And Ian King’s Automatic Fortunes is your front-row ticket to research on the most exciting tech breakthroughs of our time.

Click here to learn more about the one tech trend that Ian believes is set to soar — coronavirus be damned.

Finally, don’t forget to check out Great Stuff on social media. If you can’t get enough meme-y goodness, follow Great Stuff on Facebook and Twitter.

Until next time, good trading!

Regards,

Joseph Hargett

Editor, Great Stuff

0 notes

goldira01 · 5 years

Link

Getting Sentimental on the Dow

Ever have one of those mornings when you read headlines from the major financial publications … and you nearly spit your coffee all over?

You get the picture.

That’s a considerable jump, and it may lead you to conclude that the COVID-19 outbreak is now priced into the market. I’m not convinced that’s true.

Investment spending with this much uncertainty? Have you met U.S. businesses?!

The Takeaway:

So, it’s too soon to speculate, but you’re still speculating … and that speculation isn’t good.

Let’s put that speculation in perspective.

Remember the SARS outbreak? When it hit China back in 2003, the Chinese economy only accounted for about 4% of global gross domestic product (GDP). The country was a blip on the radar back then.

The COVID-19 situation will take the shine off this rosy U.S. economy. The coronavirus correction isn’t over, and somebody needs to tell it like it is.

If that “somebody” is Great Stuff and not the Fed … so be it.

Good: To the Maxx

Furthermore, TJX said that same-store sales grew 6% on the quarter, nearly doubling the consensus estimate for 3.1% growth.

But wait … there’s more! The company also announced plans to hike its dividend 13% and repurchase $1.75 billion to $2.25 billion in stock.

Better: What About Bobs?

It’s the circle of life. Bob Iger is now officially the former CEO of The Walt Disney Co. (NYSE: DIS).

At last year’s investor day meeting, Iger told attendees: “2021 will be the time for me to finally step down.”

So, who’s replacing Bob? Well, Bob, of course.

In other words, the Iger dip in DIS shares looks like a bullish opportunity. Buy DIS, and Bob’s your uncle.

Best: A Force to Be Reckoned With

There’s a lot to unpack with Salesforce.com Inc. (NYSE: CRM) today, so you might want to sit down for this.

First, the company posted stronger-than-expected fourth-quarter results. Earnings, revenue and order backlogs all exceeded Wall Street’s expectations.

We’ll round out on Friday with one of our favorite options strategies … and maybe we’ll even sneak in a trade idea! (Market willing…) So, be sure to tune in!

Now, on to today’s poll of the week:

Great Stuff: Your Bloodbath Bath Bomb

Are you enjoying this week’s bloodbath? I’m relaxing in mine with a lavender-and-lemon bath bomb.

I joke, but I’m sure it’s been painful for your portfolio. Sometimes the laughter is all that keeps us going. Just remember: It’s not the end of the world.

If you’re looking for a pick-me-up, a video featuring experts Jeff Yastine and Ian King caught my attention this week: “Coronavirus Hits South Korea, Italy — Fearless Investors Will Prosper.”

[embedded content]

If you haven’t watched it yet, I won’t spoil the ending for you! (I won’t lie, it’s a tear-jerker.)

Needless to say, Ian King’s optimistic perspective was contagious. He’s always thinking about innovation, change and what the world will look like 10 years down the line.

So get up, I say. Get up! You’re not dead yet. You’re not going on the cart!

Click here to learn more about the one tech trend that Ian believes is set to soar — coronavirus be damned.

Finally, don’t forget to check out Great Stuff on social media. If you can’t get enough meme-y goodness, follow Great Stuff on Facebook and Twitter.

Until next time, good trading!

Regards,

Joseph Hargett

Editor, Great Stuff

#Timor Invest

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timclymer · 5 years

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Miss Brick House

At nineteen, in 1975, I was selling advertising for the OSU college paper, The Lantern, and submitting stories and getting published in the student “fringe” paper: Our Choking Times. The one where I won their respect as a budding radical, then went flying over the lines of professionalism to date Gil Scott-Heron.

I not only wrote about the older and otherworldly genius radical rapper, I threw caution in my hometown wind, hit the road with him, and well, you know. Ditching college for nearly a week, I boarded a tour bus with Gil, soaking up his celebrity and smiling a smug smile, when other girls stared with hungry eyes. Mostly I watched him read and read and read.

Now I knew why his lyrics were so intriguing. He devoured news magazines and books, speed-reading, thoughts on fire. I tried to be ready with an intelligent comment or witticism, while keeping the goal of my article in mind.

“I like talking to you,” he once said approvingly, eyes smiling as he looked up from U.S. News and World Report. And well my heart did little flips as the bus clipped along.

In 1976, I would have flashbacks of our recent time together: Gil, handsome, angular-faced and charmingly disheveled sat backwards on a chair across from me, as I lay robed in his hotel bed and dreamily drank wine. He enthusiastically entertained his enraptured audience of one. I alternated between laughter and awe, as he tossed off brilliant dialogue and humor with an upturned finger, woven in with his trademark political rhapsody and a wacked, uncombed, uncared-about afro.

My merriment only slightly dimmed by an shadowy sense of foreboding when Gil made a point of taking frequent “artistic time-outs” to do copious lines of cocaine from an album cover on The Holiday Inn hotel dresser. Credit to him, he didn’t corrupt me with his coke, which I had turned down the first day. I was still terrified by cocaine–then. And he let me stay happily “in my cups”, replenishing my drink stash at every rest stop. Back in that day, a man who never let my drink run out, was the epitome of a gentleman to me, which made it hard to focus on diamonds and more upscale amenities.

Wrenching myself away from that rendezvous for a season, I became the sometimes-faux, oft-times truly-dedicated student again and dove into my college classes for another year or so.

Mostly I wrote from the soul, without getting intimately involved–all in preparation for my coming career in broadcast journalism. That is until I got sidetracked again, but by this time I was twenty-one. Hey, I was grown! But my grown self was running a semester behind my scheduled graduation date. My degree had to wait for spells of heavy drinking, the local party scene and manic depression hovering in the wings.

At least school was out for a season, because it was the smoking-hot Summer of 77″!! A friend of a friend, a concert promoter, borderline dirty old man. (he was late 40’s which at 21 seemed pretty ancient.) This guy submitted my name to a contest, then told my friend that I’d be perfect with some coaching and could probably win.

It was a beauty contest, but sort of an invented one for publicity to launch Lionel Richie and The Commodores’ concert tour and promote the hit record du jour. The song soaring up the charts was “Brick House”–helping to make The Commodores one of Motown’s hottest groups. The contest was for Miss Columbus (Ohio) Brick House.

The winner at the national level it was promised, would also snag a movie role with the exceedingly cool, Billy Dee Williams in his next movie. I was jazzed beyond rhythm-and-blues. Fifteen girls competed at “Ciro’s”, the popular Columbus dance club, sort of Miss America style, in swimsuits and heels and then revealed their “intellect” or “wit” when asked a serious question.

To be honest, there was a girl who was a Brick House bombshell, with a sensational eye-popping figure, judging by the collective stares of the men in the audience, but the dear bombshell appeared dumb as a bag of hammers! (She wasn’t, just shy.) I was pretty adept at stringing a sentence together, and she fumbled over her name. Since they wanted a kind of spokesmodel winner, I won.

Sandi, the Bombshell, became the runner-up and we became fast friends, because at that point, The Commodore’s management closed down the contest and picked the two of us to go on Tour with the group.

We won gift certificates and free travel, limo rides, meals, money for clothes. We stood behind barricades in record stores in swimsuits, high heels and fake furs and signed autographs, along with The Commodores. I always wore a pair of slacks over my swimsuits in public when offstage, because I didn’t want to look sluttish. I was actually aiming for something sophisticated, sexy and upscale. Years later, Beyonce’ pulled it off.

Sandi and I roomed together, giggled, gossiped and drank champagne while we traveled to Philadelphia, Hartford, Connecticut, Boston, and made a pit stop in Dayton before the tour was to have a huge concert at Madison Square Garden in New York City.

It was at a packed arena in Philadelphia that I was “crowned” the official stage dancer on tour and I was ecstatic to be onstage with Lionel Richie and The Commodores.

“She’s a Brick House–she’s mighty, mighty!” they sung in snug, glittering military-style suits–a vision for testosterone-deprived eyes. And I’d do a wham-bam funky yet feminine, hip thrust as I wound my provocative dance to position myself in between Lionel Richie and William King.

“A-A-O-O-W”, I would think while William Orange actually sang it.

I was developing a serious crush on Lionel, but would try to reign it in whenever his pretty wife, Brenda, stage left, arms folded, looked at us, sullen from the sidelines. I was told by the road manager, she had been doing that for the last two years, but now it seemed definitely directed at me. That angst and heady excitement became a combustible mix that changed the show’s routine it seemed during one concert.

The routine was that Sandi would dance solo from stage right and I’d dance solo from stage left. Once during a concert the air charged with anti-matter, the routine was interrupted at the pit stop in Dayton. There was a rustling, a din, and then complete clamor and chaos.

Suddenly a “boo” erupted from the back. What had started as a tiny disturbance, quickly became something monstrous. 10,000 people packed in the arena began booing in a huge roar for almost a full, tortuous minute.

I was mortified, spinning dizzily as I finally stumbled offstage when the song was over, almost tripping over my sky-high heels. Try hiding wearing a neon-orange bathing suit. I ran into a photographer who was stage side, who became one of my best friends over the years.

“Why did they boo?” I broke out in little-girl sobs, heaving in-between blurted words, “I was thinking I did my best Chaka Khan dance moves,”

“I was in the back of the arena earlier,” Chuckie laughed, “and I heard a loud, crazy protest, people complaining—Miss Brick House is white! Miss Brick House is white!”. Then everyone started booing, not even knowing why they were booing,” he said. “Just really stupid.”

“But I’m not white!” I wailed, “I’m a black woman, a light-skinned black woman.” (African-American was not yet in vogue.)

“Oh, of course I can see that,” said Chuckie, “but wa-a-ay in the back with bright lights washing out your skin tone and the fact that you sometimes wear that straightened Farrah Fawcett-looking hairdo—well, I guess they just couldn’t tell.” Tears of laughter brimmed Chuckie’s eyes and he wiped them away with his knuckles.

I found it hard to laugh with him or even chuckle. To be booed by 10,000 people in a roar of disapproval back then, made me wish the earth would quake, open up and consume me quickly, no matter what the reason.

The next morning on the road again, I had washed and curled and frizzed my hair, letting it dry naturally. But I continued to whimper about the night before. Yet it seemed to disturb nobody but me, which I found amazing. I thought they would send me home. Then I remembered the performer’s mantra:

“The show must go on.”

I also thought of Lionel Richie’s smile. Did I care he was married? Only when I examined his wife’s face did I feel a wave of guilt. She seemed so unhappy about the nightly crush of women. Yet I wasn’t a groupie, I sniffed to myself. ‘Hey, I’m Miss Brick House! I’m not only with the band, I’m in the show!’

That sense of entitlement combined with the bitter-sweetness of an early hallway smile beamed in my direction. And light conversation between Lionel and me–and I only cared for my own selfish joy.

That summed up a 21-year old woman-child, with a dusty Bible and a neon orange bathing suit strutting nightly onstage with a supergroup, led by a friendly, incredibly talented, rich and famous man. I was dancing a dream and anything seemed possible. And so I danced.

Source by Tory Connolly

from Home Solutions Forev https://homesolutionsforev.com/miss-brick-house/ via Home Solutions on WordPress from Home Solutions FOREV https://homesolutionsforev.tumblr.com/post/188020942960 via Tim Clymer on Wordpress

#Home Solutions FOREV

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homesolutionsforev · 5 years

Text

Miss Brick House

“I like talking to you,” he once said approvingly, eyes smiling as he looked up from U.S. News and World Report. And well my heart did little flips as the bus clipped along.

Wrenching myself away from that rendezvous for a season, I became the sometimes-faux, oft-times truly-dedicated student again and dove into my college classes for another year or so.

It was at a packed arena in Philadelphia that I was “crowned” the official stage dancer on tour and I was ecstatic to be onstage with Lionel Richie and The Commodores.

“A-A-O-O-W”, I would think while William Orange actually sang it.

“Why did they boo?” I broke out in little-girl sobs, heaving in-between blurted words, “I was thinking I did my best Chaka Khan dance moves,”

“But I’m not white!” I wailed, “I’m a black woman, a light-skinned black woman.” (African-American was not yet in vogue.)

“The show must go on.”

That sense of entitlement combined with the bitter-sweetness of an early hallway smile beamed in my direction. And light conversation between Lionel and me–and I only cared for my own selfish joy.

Source by Tory Connolly

from Home Solutions Forev https://homesolutionsforev.com/miss-brick-house/ via Home Solutions on WordPress

#Home Solutions Forev

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omcik-blog · 7 years

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New Post has been published on OmCik

New Post has been published on http://omcik.com/toys-r-us-in-trouble-equifax-stock-to-drop-market-momentum-wanes/

Toys 'R' Us in trouble; Equifax stock to drop; Market momentum wanes

Premarket: 7 things to know before the bell – Sep. 19, 2017

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Most Asian markets ended the day in negative territory. Japan’s Nikkei index bucked the trend with a gain of 2%, closing at its highest level in over two years. Japanese exporters have been helped by a fall in the value of the yen.

2. No time for toys: Toys ‘R’ Us is filing for bankruptcy and that’s causing a domino effect among toy makers.

Shares of Hasbro (HAS), Mattel (MAT) and Jakks Pacific (JAKK) took big tumbles on Monday as investors anticipated the bankruptcy filing that came late in the day.

The three toy makers each generated nearly 10% of their sales from Toys ‘R’ Us in their most recent fiscal years.

3. What to watch — Trump, Equifax, Federal Reserve: President Trump is expected to address the United Nation’s General Assembly around 10:30 a.m. ET. Wall Street will be watching for any market-moving comments.

Investors will be watching Equifax (EFX) again. Shares are slated to drop by another 3% at the open as investors worry about continued fallout from a huge data breach at the firm. Equifax shares have dropped 34% since the breach was revealed earlier this month.

And the Federal Reserve is beginning two days of meetings on Tuesday to discuss monetary policy. Markets will have to wait until Wednesday for announcements on interest rates and what the Fed plans to do with the vast stock of Treasuries and other securities it bought to spur the economy since the global financial crisis.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

4. Earnings: Bed Bath & Beyond (BBBY) and FedEx (FDX) are the main firms that Wall Street will be watching on Tuesday as they plan to release earnings after the closing bell.

FedEx was hit by a massive malware attack in late June, along with many other firms. FedEx warned that operations at its TNT Express subsidiary were disrupted and the financial impact “could be material.”

In Europe, Norway’s giant sovereign wealth fund announced Tuesday that its investments are now worth $1 trillion. The government pension fund invests the country’s oil wealth for future generations.

5. Economics: The U.S. Census Bureau plans to release data on housing starts and building permits from August at 8:30 a.m. ET.

6. Big merger in doubt?: An activist investor has built up a 15% stake in Switzerland’s chemical firm Clariant (CLZNY) and is vowing to fight its planned $20 billion merger with Huntsman (HUN), another chemical specialist.

White Tale Holdings, an investment partnership created by hedge funds Corvex and 40 North, has written to Clariant’s board, urging them to rethink the deal.

Download CNN MoneyStream for up-to-the-minute market data and news

7. Coming this week:

Tuesday — FedEx (FDX) and Bed Bath & Beyond (BBBY) earnings; Federal Reserve begins two-day meeting Wednesday — General Mill (GIS)earnings; Federal Reserve interest rate decision and press conference Thursday — Manchester United (MANU) earnings Friday — OPEC and non-OPEC oil ministers meet in Vienna

CNNMoney (London) First published September 19, 2017: 5:34 AM ET

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