Walmart Inc’s (WMT.N) margins and online sales are expected to benefit in the second quarter as the largest U.S. retailer cashed in on shoppers using government stimulus checks to buy higher-priced products like sneakers and toys along with daily essentials.
Home Depot Inc (HD.N) reported its biggest rise in quarterly same-store sales in at least two decades on Tuesday as demand for paint, tools and other home improvement products surged from consumers stuck indoors due to the COVID-19 pandemic.
The off-price retailer Stein Mart has filed for Chapter 11 bankruptcy protection and plans to shutter most of its stores.
Stein Mart operates 281 stores across 30 states in the U.S., according to its website.
Simon Property Group Chief Executive David Simon said Monday that the company is still looking to salvage additional distressed retailers, having already made bids for bankrupted Lucky Brand, Brooks Brothers and J.C. Penney.
Simon Property Group Inc (SPG.N) missed Wall Street estimates for quarterly profit on Monday, hurt by unpaid rent from retailers across its U.S. malls who suffered a total loss of 10,500 shopping days due to coronavirus-led lockdowns.
Foot Locker reported comparable store sales increased by 18 percent in the second-quarter ended Aug. 1 as the chain reopened and sales unexpectedly increased — likely due in part to government stimulus checks.