Goldman Sachs analyst Kate McShane provided an update on digital trends at Foot Locker, Inc. FL and new card-scanning rules at Costco Wholesale Corporation COST.Foot Locker: The analyst says that Goldman Sachs’ analysis following the re-launch of the FLX rewards program in June 2024 shows that monthly app downloads in July 2024 reached 191K, up from 121K in June 2024 and 167K in July 2023 but below the monthly average of 218K since January 2019.McShane writes that app downloads turned positive in June 2024 ...

Despite tallying total gains, including dividends, of 150,000% since its initial public offering (IPO), this dominant company hasn't split its stock since the start of the century.Despite historically hot trends like artificial intelligence (AI) dominating headlines on Wall Street, it's stock-split euphoria that's played an equally impressive role in sending the broader market higher in 2024.Put simply, a stock split is a tool publicly traded companies can lean on to adjust their share price and outstanding ...

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.It also includes access to the Zacks Style Scores.What are th ...

Costco is a strong dividend growth stock, but investors have pushed the price near all-time highs. Realty Income is in a different position.On the surface, retailer Costco Wholesale (COST -0.77%) and real estate investment trust (REIT) Realty Income (O 0.57%) have little in common.One of the biggest differences between these reliable dividend stocks today is found on the valuation front, with Costco looking historically expensive and Realty Income relatively cheap. A lot of investors, particularly those in ...

Buying great businesses when they're on sale is an excellent wealth-building strategy.With volatility returning to the stock market in recent days, patient investors may soon have an opportunity to scoop up shares of some outstanding companies at a discount. Here are three elite stocks to place near the top of your buy list.Costco WholesaleConsumers love to buy quality merchandise at bargain prices. Costco Wholesale (COST -0.77%) has long made masterful use of this simple yet difficult-to-replicate formula ...

Costco has raised membership fees for the first time since 2017. Explore how this change could affect its stellar stock performance and customer loyalty.Costco Wholesale (COST -0.77%) recently announced its first membership fee increase since 2017, raising questions about the potential impact on its stock performance.Costco remains one of the strongest forces in the retail sector, known for its robust growth and loyal customer base. The new fee hike, along with new membership scanners aimed at enhancing ser ...

文章核心观点 - 好市多近期宣布打击非会员进店，虽近几个月动作不断但公司稳定可靠，此举措可能更多是为保障运营和服务会员，对投资者而言可能只是新闻性大于重要性 [1][6][7] 公司近期重大事件 - 克雷格·杰利内克卸任首席执行官，罗恩·瓦克里斯接任 [2] - 公司发放15美元特别股息 [2] - 首席财务官理查德·加兰蒂卸任，加里·米勒奇普接任 [2] - 公司宣布备受期待的费用上调 [2] - 公司在官网宣布将在所有门店安装刷卡机以打击会员共享 [2] 公司盈利模式 - 会员制是公司运营模式的关键，会员每年支付60美元购物特权费，9月起普通会员费涨至65美元，高级会员费涨至130美元 [3] - 公司产品加价率低，仓库维护成本低，主要收入来自会员费，通过为会员提供价值保持高销量 [3] - 第三财季（截至5月12日）销售额585亿美元，其中会员费11亿美元，毛利率10.8%，净利润17亿美元 [3] 打击会员共享原因 - 公司已有机制阻止非会员进店，但电商是主要增长动力，许多门店安装自助收银台，非会员可绕过入口购物结账 [4] - 疫情期间会员共享增多，公司执行规则较宽松，如今自助收银台普及且无需向收银员出示会员卡，会员共享更猖獗 [4] - 管理层处理会员投诉，此前试点项目显示打击会员共享带来的新会员注册收入高于拒绝非会员的损失，且这是运营“卫生”问题 [5] 举措影响分析 - 此举措并非因公司缺钱，会员和续约情况一直良好，第三财季美加续约率微升至93%，付费家庭会员同比增长7.8% [6] - 可能是为保障运营顺畅和为会员提供价值，也可能与管理层变动有关 [6]

文章核心观点 - 美国商务部报告称6月零售销售持平,表明经济未陷入衰退,消费者基础稳健,支持第二季度经济增长的积极前景 [1][2][3] - 5月零售销售数据上修,未改变联储9月可能开始降息的预期,缓解了经济大幅放缓的担忧 [2] 行业总结 - 零售行业整体保持稳定,6月同比增长2.3% [4] 公司总结 Costco (COST) - Costco会员制模式、批发销售和注重性价比吸引忠实客户群,成本控制提升盈利能力,为零售股提供稳定和长期增长潜力 [6] - Costco宣布提高美加地区会员费,这是自2017年以来的首次调整,标准会员费从60美元涨至65美元,高级会员费从120美元涨至130美元 [7][8][9] - 会员费调整是Costco增加收入、为会员提供更多优惠的策略,是投资者长期持有COST的另一原因 [10] Target (TGT) - Target产品线广泛,线上业务强劲,吸引多元消费群体,私有品牌和创新门店布局提升客户忠诚度,是零售板块的不错投资标的 [11] - 花旗银行上调Target评级至买入,预计2024财年EBIT利润率有改善空间,认为Target在零售行业地位稳固 [12][13][14] Dick's Sporting Goods (DKS) - DKS是运动用品零售行业的领军企业,受益于健康和健身需求增长,全渠道布局、强大品牌合作和独家产品提供竞争优势,是零售板块的不错投资机会 [16] - DKS一季度可比销售增长5.3%,超出分析师预期,全年盈利指引上调,预计可比销售增2%-3% [17][19][20]

文章核心观点 - 尽管Costco近年来股价表现出色,但作者预测未来5年内Costco将会低于标准普尔500指数的表现 [3] - Costco是一家优质企业,具有规模优势和会员制模式带来的高利润和稳定收入 [4][5][6][7] - 但Costco当前的估值过高,市场已经将其未来发展前景完全反映在股价中,缺乏安全边际 [8][9][10][11] - 即使Costco过去10年股价大涨,但未来5年内估值倍数很可能会下降,这将成为股价上涨的阻力 [12][13][14] 公司概况 - Costco是全球第三大零售商,拥有规模优势和强大的议价能力,能够为顾客提供低价商品 [5] - Costco的会员制模式带来了高利润、经常性和可预测的收入,会员续订率高达90.5% [6] - 著名投资者查理·芒格曾表示"我喜欢Costco的一切,我永远不会卖出一股" [7] 估值分析 - Costco当前的市盈率为52.9,这是其历史最高水平,市场已经完全反映了其未来发展前景 [9][10] - 即使Costco未来5年内每股收益以10.7%的年复合增长率增长,这也是一家成熟的大型企业,增速很可能会有所放缓 [11] - 过去10年Costco的市盈率已经翻倍,未来5年内很难再有类似的估值扩张,反而可能会出现估值下降 [12][13] - 估值下降将成为Costco未来5年内股价表现低于大盘的重要因素 [14]

文章核心观点 - 尽管这些股票目前估值较高,但如果股价下跌,将是投资者期待已久的机会 [1][2] - 如果未来几周或几个月市场持续下跌,Costco Wholesale、MercadoLibre和Shopify这三只股票值得密切关注,它们目前看起来估值较高,但如果股价下跌,投资者就应该抓住机会 [3] Costco Wholesale - Costco Wholesale是一家仓储零售巨头,凭借其低价和优质服务吸引了越来越多的顾客,尽管面临通胀压力,但销售额和利润仍在增长 [4] - 第三季度会员人数同比增长7.8%,会费收入增长7.6%,销售额增长9.1%,其中同店销售增长6.6%,每股收益增长29%至3.78美元 [5] - 进入当前季度,Costco的强劲势头仍在延续,7月销售额同比增长7.1%,同店销售增长5.2%,电商销售增长20% [6] - 尽管大件商品销售受到一些压力,但顾客仍在大量涌入Costco的仓储店铺,第三季度客流量增长6.1%,客单价基本持平 [7] - Costco宣布派发每股15美元的特别股息,并将会员费从60美元提高至65美元,以提升为会员提供的价值 [8] - Costco的估值通常是投资者关注的一个因素,其股价当前交易价格为过去12个月收益的53倍,如果被市场下跌拖累,其股价将变得非常有吸引力 [9] MercadoLibre - MercadoLibre是一家专注于拉丁美洲的全球电商巨头,提供类似亚马逊的在线业务,同时还提供流行的金融科技服务 [10] - 尽管已经运营25年,但MercadoLibre仍在像一家较小和年轻的企业一样快速增长,得益于其服务的巨大市场仍处于电商渗透率较低的阶段 [11] - 2016年以来,GMV以28%的复合年增长率增长,2022年二季度同比增长20%(按不变汇率计算为83%),用户参与度不断提升 [12] - 金融科技业务增长更快,2022年二季度TPV同比增长36%(按不变汇率计算为86%),MercadoLibre不断推出新服务以吸引更多客户和销售 [13] - MercadoLibre处于高速增长阶段,即使以当前价格也是一只不错的买入股票,即使在最近的市场波动中也相对稳定,任何回调都是投资者不应错过的机会 [14] Shopify - Shopify为众多在线商店提供基础设施,让客户能够参与电商长期增长,但它已从提供全方位电商解决方案扩展到为各种规模企业提供解决方案和套餐 [15] - 在过去两年,Shopify一度需要纠正在疫情期间过度扩张而造成的错误,但现在正在重新专注于盈利能力 [16] - Shopify最新的财报显示其持续取得进展,第二季度收入同比增长21%,GMV增长22%,毛利率、自由现金流和营业利润等盈利指标也大幅改善 [17][18] - Shopify的股价当前交易价格为过去12个月销售额的12倍,未来12个月收益的52倍,尽管已经是一只不错的成长股,但如果被市场下跌拖累,将是一个不容错过的买入良机 [19]