For Brett Biggs, longtime chief financial officer and executive vice president at Walmart, this looks to be hisThe CFO recently said he would be leaving the company and headed for points unknown. “Maybe for the first time in my life, I don’t know entirely what I’m going to be doing,” said Biggs, adding that he would continue his nonprofit work, see his family and make more time for the tee. “I’ll probably get a little more golf in. That will be part of the plan,” he said.
And he said the consumer, which has helped propel the business during the pandemic, would remain strong next year.Nordstrom expects to show better results in the quarters ahead, with a lot of the upside expected from fixing Rack. Net sales for Nordstrom Rack last quarter, at $1.19 billion, decreased 8 percent versus the third quarter of fiscal 2019.
“We see opportunities to have lower prices in some categories. But in some categories it’s not about the cheapest brand. It’s about coveted brands,” said Nordstrom. “We have been around for a long time. What has sustained us is responding to the customer. We just didn’t do a good enough job of that,” said Nordstrom, referring to recent results that saw earnings fall below expectations amid sales gains, largely due to higher labor costs and issues at Rack.November sales at Macy’s “more than met our expectations,” said Adrian Mitchell, CFO.
Macy’s in February 2020 called for closing 125 department stores in three years, and last month indicated only 10 stores, of the 60 left to be closed, will shut down in the beginning of 2022. Mitchell said Macy’s is re-examining the timing and number of store closings. Shopper traffic has recently been on the upswing.
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Profits should return to '90s levels to lift worker pay: Morgan StanleyIt's time for corporate profits to return to the '90s so companies can make up for decades of underpaying workers, Morgan Stanley says 摩根士丹利表示，现在是时候让公司利润回到90年代，这样公司就可以弥补几十年来工资过低的工人 I agree with diagnosis. But DOW 20,000? Can this be done without a catastrophic market crash? you are nt going like this should be asking for more if you knew the real inflation numbers
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