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Palomar Press Briefing | August 25, 2021

 



 INDUSTRY NEWS

August 25, 2021

BOISE OPEN ENDS IN DRAMATIC FASHION. ‘NOBODY WANTS TO WIN A GOLF TOURNAMENT THAT WAY’

There has been plenty of excitement in the 32-year history of the Albertsons Boise Open, but Sunday’s finish might have set a new standard for high drama at Hillcrest Country Club.

MARKETPLACES INDUSTRY REPORT Q2-2021

ICSC’s Q2-2021 Report shows the ways in which the Marketplaces Industry is returning to normal while still navigating the ongoing impact of COVID-19. There was an increase in consumers’ monthly expenditures in dining as more business reopened and capacity restrictions eased.

WALMART SEES INCREASE IN SECOND-QUARTER REVENUE DUE TO E-COMMERCE, GROCERY SHOPPING

Bentonville, Ark.-based Walmart Inc. has seen an increase in revenue during its fiscal second quarter of 2021, which ended on July 31. Walmart’s total revenue was $141 billion, an increase of 2.4 percent year-over-year.

TARGET MOMENTUM CONTINUES IN Q2 AS BACK-TO-SCHOOL KICKS IN

Target Corp. continues to grow faster than it did before pre-pandemic as the discounter reported second-quarter earnings that beat analysts’ estimates, with sales increases across all its merchandise categories.

TJX SALES UP 18%, LED BY A SURGING HOMEGOODS

The TJX Companies made a strong showing in the second quarter with sales and profits that best anaysts’ estimates even as some of its international stores were temporarily closed due to the pandemic. The parent company of T.J. Maxx, Marshalls, Home Goods and other banners, reported net income of $785.7 million.

TOYS ‘R’ US IN NEW COMEBACK: TO OPEN 400-PLUS IN-STORE SHOPS IN MACY’S

Toys “R” Us is making yet another comeback and this time it’s betting its future on Macy’s. The toy retailer has entered into a partnership with the department store giant that includes rolling out branded in-store shops to more than 400 Macy’s stores in 2022.

2021 ON TRACK TO HAVE LEAST AMOUNT OF RETAIL CLOSURES IN OVER A DECADE

This year is on track to have the least amount of retail stores closing up shop in more than a decade, a huge improvement from the record number of closures last year, according to CoStar Group data. CoStar expects the U.S. to see about 40 million square feet of store closures.

HOME DEPOT SURPASSES $40B IN QUARTERLY SALES FOR THE FIRST TIME

Throughout 2020, home improvement retailers reaped the benefits of consumers spending more time in – and investing more money in – their homes. But even as consumers have begun to venture outside their spaces, demand in the category hasn’t dropped off.

 

 

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