Walmart’s growth should concern Amazon

Walmart’s sales are growing at the fastest pace in eight years as it continues to rack up big gains in online sales. The retailer saw online revenues increase 50 percent in the third quarter and still managed to post improved earnings per share in the process.

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Gap raises forecast following 3Q same-store gains

Gap Inc.’s overall same-store sales increased three percent during the third quarter as Old Navy gained four percent and the retailer’s namesake banner grew one percent. The retailer’s Banana Republic chain saw its same-store number decline one percent during the quarter.

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Bon-Ton to close 40 stores

Bon-Ton Stores, Inc. announced plans to close 40 stores in 2018. The parent company of its namesake department store as well as Boston Store, Younkers and others have failed to turn a profit in six straight years.

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P&G/Peltz drama is not over

Procter & Gamble initially declared victory in a proxy battle with Nelson Peltz, who was seeking a seat on the company’s board. A recount found that Mr. Peltz came out ahead by less than 1/600th of one percent of the votes cast. P&G has said that the vote total has not been finalized and will…

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Walmart’s same-store sales exceed expectations

Same-store sales at Walmart increased 2.7 percent in the third quarter, higher than analysts’ expectations of a 1.7 percent gain. The retailer, which has seen its same-store sales improve for three straight years, received a boost from online sales and purchases related to hurricanes that hit the U.S. mainland, Puerto Rico and the Virgin Islands.

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Best Buy comes off strong quarter

Best Buy’s same-store sales increased 4.5 percent in the third quarter and its profits improved 23 percent year-over-year for the period. The company said its profits were somewhat negatively affected by hurricanes in Florida, Puerto Rico and Texas.

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