Consumer

Title Date
WMT/TikTok - the more articles out, the more interested WMT sounds in a deal; CNBC article says WMT's original plan was to become the majority owners (w/GOOGL & Softbank minority owners) but when that group fell apart last week, WMT had become so convinced TikTok was a strategic fit it partnered w/MSFT 2020-08-27
LB – Les Wexner (founder/former CEO who recently stepped back from CEO/Chairman role) sold 3M shrs on 8/25 for $89.1M ($29.70/shr) - SEC 2020-08-27
WMT/TikTok - WSJ Updates on TikTok Sales Negotiations - ByteDance is asking $30B which bidders haven't been willing to pay. MSFT/WMT's bid considered the front-runner 2020-08-27
Retail M&A - BBG article discusses rationale of a WMT TikTok deal & GPS's "portfolio" commentary from earnings CC 2020-08-27
ULTA – Key Conf. Call Comments; 2H Guidance (2H SSS dn LDD/mid-teens% w/Q3 'somewhat better' than Q4; GM deleverage, though less than 1H; $35-40M PPE/COVID Exp; planning to pull back on promotional activity in 2H to drive profitability 2020-08-27
GPS – Key Conf. Call Comments 2020-08-27
Consumer - OLLI Conf. Call Comments, AZO CFO Change, BIG Share Repo/Div announcement (ahead of earnings tom AM), GPS announces 10/22 Investor Day (on IR page) 2020-08-27
GPS - Reports Q220 Earnings, Q beats on OpProfit driven by signif better topline & GMs; no guidance or QTD commentary in PR   2020-08-27
OLLI - Reports Q220 Earnings, Q beats preannouncement on Revs, OpMargin & EPS; QTD SSS tracking ahead of St. 2020-08-27
ULTA - Reports Q220 Earnings, Q beats on EPS driven by better SG&A while Revs/GMs miss; Notes improvement through Q w/July dn 10% & QTD/Aug SSS dn MSD% (in line w/St.) 2020-08-27
Consumer - Stimulus Negotiations, WMT, SAFM 2020-08-27
Consumer - Unemployment Benefits, WMT/TikTok, Leslie's Poolmart, Lord&Taylor 2020-08-27
ANF shrs +10% – Key Conf. Call Takeaways 2020-08-27
WMT/TikTok – WMT Announces It’s Partnering w/MSFT on TikTok Bid (CNBC); WMT issues statement that “A potential relationships” w/TikTok US, in partnership w/MSFT, could provide WMT a way to reach customers & grow its 3rd party marketplace & advertising businesses." (BBG) 2020-08-27
DG shrs flattish – Key Conf. Call Takeaways 2020-08-27
Consumer - WMT/TIkTok, Warby Parker 2020-08-27
DLTR shrs dn 4% – Key Conf. Call Takeaways 2020-08-27
Casual Dining Restaurants/Hotels/Airlines/Cruise Lines, etc. – Sub-sectors strong w/some (inc. Cramer on CNBC) pointing to positive read-through from Abbott’s announcement last night of a $5 15-Minute Easy-to-Use COVID Antigen Test receiving FDA Emergency Use Authorization 2020-08-27
BURL shrs +1% – Key Conf. Call Takeaways 2020-08-27
Stimulus - Meadows will speak w/Pelosi at 2:30pmET today, the 1st stimulus talks in 3 weeks, according to Bloomberg sources 2020-08-27

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