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Fly News Breaks for December 12, 2019
Dec 12, 2019 | 09:15 EDT
Evercore ISI analyst Greg Melich noted that Home Depot (HD) reset both sales and margin expectations for 2020 at its analyst day and he believes consensus estimates are likely to come down 3%-5% for 2020 following the event. However, the strength seen in the firm's Home Improvement Lead Indicator leads him to believe Home Depot's sales are likely to accelerate next year and its 3.5%-4% comp sales growth guidance could prove conservative. Walmart (WMT) and Costco (COST) shares have "broken out on upside valuation" based on their high returns, traffic growth, and share gains and "Home Depot looks like the next one to us," concluded Melich, who keeps an Outperform rating on Home Depot shares.
News For HD;WMT;COST From the Last 2 Days
Feb 27, 2020 | 11:19 EST
Walmart (WMT) over the past 18 months has explored creating a paid membership program that would compete with Amazon Prime (AMZN) but include perks that Amazon can't replicate, Jason Del Rey of Recode reports. As soon as next month, Walmart plans to start publicly testing a membership program called Walmart+, sources told Recode. The plan charges customers $98 a year for unlimited, same-day delivery of fresh groceries from one of the 1,600-plus Walmart stores in the U.S. where the program is available, according to Del Rey. Walmart is also considering launching Walmart+ with a feature that would allow customers to use text-messaging to place orders, he adds. Walmart's longer term vision for the membership program includes discounts on prescription drugs at Walmart pharmacies and fuel at Walmart gas stations, Del Ray says. Reference Link