- Online sales increased by 4% in the fiscal fourth quarter of 2022 compared to a year ago.
- Approximately 45% of The Home Depot’s online Q4 2022 orders were fulfilled through stores, down 5% compared with the previous quarter.
- Home Depot to devote $1 billion to raise hourly employee wages.
- Amazon reported an operating loss of $412 million from North American operations in the most recent quarter.
- Net income fell to $278 million, compared with $14.3 billion in the fourth quarter of 2021, largely based on tax write-offs related to Amazon’s investment in Rivian Automotive, Inc.
- eCommerce now generates 13% of Walmart’s global revenue.
- Walmart warned Wall Street analysts that profit could fall as much as 6.2% in the current year.
- The retailer expects sales growth in 2023 but attributes much of it to inflation-driven price increases.
- From May to October 2022, images deemed viewer-friendly resulted in 30% higher conversion.
- Consumers in different parts of the world have different preferences as to what makes an image appealing.
- Target expects an operating income margin rate of 4% to 5% for the current quarter.
- Same-day services (Order Pickup, Drive Up, and Shipt) increased by 4.3% in the fourth quarter.
- Same-day services account for more than 10% of Target’s total sales.
- Total revenue of $22.1 billion was 6% below the same period a year ago, as the company continues to manage through a sudden and, in the case of FedEx Express, ferocious drop in volumes.
- FedEx Express’ operating income plummeted by 77% year on year, offsetting 32% gains at FedEx Ground and 15% at FedEx Freight.
- The company parked nine MD-11 aircraft in the third quarter and plans to park six more planes in the fourth quarter.
- Macy’s said sales fell by 4.6% in Q4 2022, and it expected consumers to remain under pressure this year, causing spending on nonessential items to drop further. It also noted weakness across all income levels. To combat this, Macy’s plans to expand its online marketplace by adding 2,000 brands in 2023, while simultaneously planning to shutter 125 locations over the next three years.
- The electronics retailer reported a similar trend, with US sales falling almost 10% due to soft spending on computers, phones, home theaters, and appliances. However, it noted growth in video gaming products and tablets.
TJX Companies and Burlington Stores
- Both firms said they continued to post sales gains thanks to their value-oriented brands; both are also experiencing better-than-expected foot traffic.
- The grocery and multi-department giant reported a 6.2% increase in same-store sales, boosted by a 10% rise in sales from its private-label products.
- Online sales increased 12% in Q4 2022.
- Delivery sales rose by 22% over the last year.
- Online sales on Lowes.com increased by 5% in the fourth quarter of 2022 compared with a year earlier.
- Overall sales increased 5% from $21.33 billion in Q4 compared with the comparable period a year earlier.
- Total sales declined 1.5% in the fiscal fourth quarter of 2022.