Amazon expands to Poland; GameStop shares continue to rise

Editor’s note: We are refocusing our coverage to provide clients with robust proprietary news and insights. As a result, we will discontinue the publication of this feature effective Feb. 5. Stay on top of supply chain developments in the consumer space through Panjiva’s research, including Supply Chain Daily.

TOP NEWS IN RETAIL

* Amazon.com Inc. plans to launch its own platform in Poland, Reuters reported, citing a company statement. "Amazon has been supporting Polish customers for many years. … The next stage is the introduction of a full retail offer for consumers in Poland," Alex Ootes, Amazon's vice president for EU Expansion, reportedly said.

* Shares of GameStop Corp. continue to increase, peaking at $380 on Jan. 27 and closing up 134.8% at $347.51. Individual investors are pulling the company's stock up against short sellers.

➤ Levi Strauss awaits 2021-end for pandemic recovery, cuts inventories

Levi Strauss reported a continued revenue decline in the fourth quarter of 2020 as the pandemic continued to impact store openings. They expect a recovery only by year-end and are managing inventories down in the meantime.

➤ Biden issues order to combat climate change 'at home and abroad'

The Jan. 27 executive order starts the process of developing new U.S. emissions reduction targets under the Paris Agreement on climate change and directs federal agencies to procure carbon-free electricity and zero-emission vehicles.

➤ COVID-19 hits credit card business, costing banks nearly $780M in Southeast Asia

COVID-19 may have shaved off nearly $780 million in interchange revenue for banks in Singapore, Malaysia, Thailand and Indonesia as credit card payments declined for the first time in 2020 after several years of growth.

TEXTILES, APPAREL AND LUXURY GOODS

* The Swatch Group AG expects sales in local currencies for 2021 to return to 2019 levels as global demand for watches and jewelry increases amid the easing of coronavirus-related restrictions. The watch company swung to a loss of CHF 53 million in fiscal 2020 from a net income of CHF 748 million in 2019, while net sales dropped 28.7% to CHF 5.60 billion.

* Levi Strauss & Co.'s adjusted diluted EPS for fiscal 2020 fell 81.3% to 21 cents from $1.12 in 2019 but still beat expectations. Net revenue dropped 23% year over year to $4.45 billion.

* Joules Group PLC posted a half-year statutory pretax profit of £1.3 million, versus £1.7 million a year ago. Group revenue declined by 15.3% year over year to £94.5 million. The apparel retailer said Marc Dench will resign as CFO "in the coming months."

MULTILINE RETAIL

* Debenhams PLC co-CEO Steven Cook will step down at the end of January, Drapers reported, citing an internal company note. The move comes after Boohoo Group PLC said it will acquire the department store chain. Debenhams CFO and co-CEO Mike Hazell reportedly will oversee the company's winding-down process.

HOUSEHOLD AND PERSONAL PRODUCTS

* Coty Inc. will close its factory in Cologne, Germany, affecting 300 workers, as part of the consolidation of its global fragrance operations. The closure will complete by the summer of 2022.

HOUSEHOLD DURABLES AND SPECIALTY RETAIL

* Whirlpool Corp.'s fiscal 2020 ongoing diluted EPS jumped 15.9% to $18.55 from $16 in 2019, exceeding estimates. Net sales declined by 4.7% year over year to $19.46 billion, with organic growth of 1.1%. The company expects a fiscal 2021 ongoing EPS of $19 to $20 and a 6% increase in net sales.

* Tractor Supply Co.'s fiscal 2020 adjusted diluted EPS rose to $6.87, beating expectations, as net sales grew 27.2% year over year to $10.62 billion. The company expects a diluted EPS of $6.50 to $6.90. Its board increased its quarterly dividend by 30% to 52 cents, payable March 9.

LEISURE PRODUCTS AND FACILITIES

* Oriental Land Co. Ltd. posted an attributable loss of ¥28.73 billion for the nine months to Dec. 31, 2020, versus a profit of ¥70.99 billion a year ago. Net sales dropped 64.9% year over year to ¥137.11 billion from ¥390.21 billion. The company maintained its attributable loss guidance of ¥51.11 billion, or ¥156.10 per share, for fiscal 2021.

CASINOS AND GAMING

* Las Vegas Sands Corp. swung to an adjusted diluted loss of $2.12 per share for fiscal 2020, wider than expectations, from an adjusted EPS of $3.26 in 2019. Net revenue dropped to $3.61 billion from $13.74 billion.

MARKETS

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