REI to close again on Black Friday, inspire action to help everyone in America Opt Outside

For the Second Quarter of Fiscal 2022 *Net sales increased 16.8% to $2.3 billion compared to $2.0 billion in the second quarter of fiscal 2021 due to the favorable impact from the continued resilience of the beauty category, the impact of new brands and product innovation, and the easing of COVID-19 restrictions compared to the second quarter of fiscal 2021. *Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 14.4% compared to an increase of 56.3% in the second quarter of fiscal 2021, driven by an 8.3% increase in transactions and a 5.6% increase in average ticket. *Gross profit increased 16.3% to $928.2 million compared to $798.0 million in the second quarter of fiscal 2021. As a percentage of net sales, gross profit decreased to 40.4% compared to 40.6% in the second quarter of fiscal 2021, primarily due to lower merchandise margin and higher inventory shrink, partially offset by leverage of fixed costs and strong growth in other revenue. *Operating income increased 17.8% to $391.4 million, or 17.0% of net sales, compared to $332.3 million, or 16.9% of net sales, in the second quarter of fiscal 2021. *Net income increased 17.8% to $295.7 million compared to $250.9 million in the second quarter of fiscal 2021.

Target Corporation updated its guidance for second quarter 2017 comparable sales and earnings per share (EPS). As a result of improved traffic and sales trends through the first two months of the quarter, Target is now expecting to report a modest increase in its second quarter comparable sales. In addition, the Company now expects to report second quarter GAAP and Adjusted EPS1 above the high end of its previous guidance range of $0.95 to $1.15. Both GAAP and Adjusted EPS are expected to reflect a 5 to 9 cent benefit driven by the net tax effect of the Company’s global sourcing operations. In addition, GAAP EPS is expected to reflect 2 to 3 cents of pressure related to the unfavorable resolution of tax matters. Target plans to report its second quarter 2017 financial results on Wednesday, August 16. “Target’s recent progress reinforces our confidence and commitment to our strategy as we build an even better Target for tomorrow. Following better-than-expected results in the first quarter, we’ve seen additional, broad-based improvement in traffic and category sales trends in the second quarter, despite continued challenges in the competitive environment” said Brian Cornell, chairman and CEO of Target. Click Read More below for additional detail.

Walmart Inc. announced that it will conduct a split of its outstanding shares of common stock at a ratio of 3:1. The stock split is part of Walmart’s ongoing review of optimal trading and spread levels and its desire for its associates to feel that purchasing shares is easily within reach. More than 400,000 associates participate in Walmart’s Associate Stock Purchase Plan today, which allows eligible associates to buy stock conveniently through payroll deductions and provides a 15% company match on the first $1,800 each year. “Sam Walton believed it was important to keep our share price in a range where purchasing whole shares, rather than fractions, was accessible to all of our associates,” said Doug McMillon, President and CEO of Walmart. “Given our growth and our plans for the future, we felt it was a good time to split the stock and encourage our associates to participate in the years to come. As Sam said, ‘We’re all in this together. That’s the secret.’”