Inside | Real news, curated by real humans
Inside Retail

Inside Retail (Jul 12th, 2017)

Harley-Davidson Inc.’s (HOG) classic motorcycles are not likely to appeal to millennials, who are starting to enter the company’s target demographic, according to Alliance Bernstein analysts. The firm cut Harley’s rating to market-perform from outperform and lowered its price target to $55 from $62. Harley-Davidson stock is down about 13 percent year to date. Bernstein expects that motorcycle rider growth will drop into negative territory this year and will remain in decline for at least five years. "We estimate rider growth has declined from a 3 percent to 5 percent annual growth pace pre-financial crisis to close to 0 percent today," analyst David Beckel said in a note. – THE STREET

  • Email gray
  • Permalink gray

Amazon Prime Day drew more sales this year than Black Friday and Cyber Monday combined, while breaking its previous record. Prime Day sales this year increased 60 percent. Amazon.com (AMZN) said a record number of shoppers from 13 countries took advantage of the 30 hours of steep discounts, saving a combined hundreds of millions of dollars. The most popular item Prime members purchased was the Echo Dot, which sold for $34.99, a $15 discount. Customers bought more than 3.5 million toys worldwide on Prime Day. – CNBC

  • Email gray
  • Permalink gray

Kraft Heinz Foods Co. (HNZ) will likely make another bid for Unilever plc (UL), says Susquehanna Financial analyst Pablo Zuanic. In February, Kraft Heinz ultimately failed with its $143 billion offer for London-based Unilever. Now, after a six-month waiting period required by British law before another bid, Kraft may return with an increased offer. Zuanic anticipates it will be closer to $200 billion after Unilever’s shares have increased about 27 percent since the previous bid fell through. Unilever’s brands include personal care products like Vaseline, Dove and Pond’s. Kraft Heinz’s brands include food products like Velveeta, Grey Poupon and Oscar Mayer. – CNBC

  • Email gray
  • Permalink gray

angel.png

Interested in angel investing? Pre-order Inside CEO Jason Calacanis' book, ANGEL, today.  Pick your favorite service to pre-order: AmazonBarnes & NobleAudibleiBooks

Blue Apron Holdings Inc.’s (APRN) much-anticipated initial public offering is proving a disappointment for investors so far. Shares have plunged more than 28 percent from an opening price June 30 of $10 per share. Now the stock is trading closer to $7 amid concerns that, while the home-delivery meal kit business is booming, Amazon.com (AMZN) is poised to be the dominant player after its recently announced $13.7 billion acquisition of Whole Foods Market Inc. (WFM). Blue Apron originally planned to price its IPO between $15 and $17 per share, but dropped its price to $10 after Amazon’s acquisition announcement. – BLOOMBERG

  • Email gray
  • Permalink gray

Gymboree Corp. said it plans to close 350 stores under bankruptcy protection, which will leave about 900 locations. The children’s clothing retailer filed for Chapter 11 bankruptcy last month amid sliding sales and waning foot traffic that many mall-based retailers are facing. The store closures, which include its Crazy 8 stores, will begin July 18. “This was a difficult decision to make, but we are confident that it is in the best long-term interest of our company,” said CEO Daniel Griesemer in a statement. – NYT

  • Email gray
  • Permalink gray

Michael Kors Holdings Ltd. (KORS) will be slow to make changes that will reverse its same-store sales declines, according to MKM Partners. The firm started coverage on the retailer’s stock with a sell rating and a $26 price target. Kors shares are down about 22 percent year to date, and down more than 35 percent the past year. “The slow pace of innovation along with changes to the merchandising and promotional strategy lowers the visibility in a return to positive comps,” MKM analyst Roxanne Meyer said in a note. Meanwhile, Meyer initiated Kors' rival Coach Inc. (COH) with a buy rating. – MARKETWATCH  

  • Email gray
  • Permalink gray

Subscribe to Inside Retail

MORE NEWSLETTERS

A thoughtful roundup of news and links for developers

Inside Dev

A thoughtful roundup of news and links for developers

DAILY
A thoughtful roundup of news and links for developers

Inside Dev

DAILY

SUBSCRIBED!

Share via

Everything you need to know about the resurgence of the spoken word

Inside Podcasting

Everything you need to know about the resurgence of the spoken word

DAILY
Everything you need to know about the resurgence of the spoken word

Inside Podcasting

DAILY

SUBSCRIBED!

Share via

For those in the business of buying, selling, and developing real estate.

Inside Real Estate

For those in the business of buying, selling, and developing real estate.

DAILY
For those in the business of buying, selling, and developing real estate.

Inside Real Estate

DAILY

SUBSCRIBED!

Share via

A hand-picked selection of products, deals, and ways to save money.

Inside Deals

A hand-picked selection of products, deals, and ways to save money.

DAILY
A hand-picked selection of products, deals, and ways to save money.

Inside Deals

DAILY

SUBSCRIBED!

Share via