Walmart's Strong Quarter, Macy's Board Nominations, Home Depot's Forecast, and Guess's Acquisition

Welcome to Omni Talk's Retail Daily Minute. Here's a quick rundown of today's top retail stories:

1. Walmart's Performance and Vizio Acquisition: Walmart reports a 6% revenue increase for the holiday quarter, driven by robust e-commerce sales. The retail giant plans to acquire smart TV maker Vizio for $2.3 billion to bolster its advertising business and continues to focus on profitable ventures like its third-party marketplace and advertising.
2. Macy's Responds to Director Nominations: Macy’s receives director nominations from Arkhouse Management Company LP for its 2024 Annual Meeting but expresses confidence in its current Board of Directors. Macy's evaluates the nominations following an unsolicited acquisition proposal, emphasizing its commitment to long-term value creation and shareholder interests.
3. Home Depot's Forecast Below Expectations: Home Depot forecasts full-year results below analysts' expectations due to subdued demand in 2024 amid restrained spending on home remodeling and persistent inflation. Despite anticipating a slight sales decline, the latter half of 2024 is expected to show marginal improvement.
4. Guess and WHP Global Acquire Rag & Bone: Guess and WHP Global collaborate to acquire Rag & Bone, a renowned New York-based jeans brand. This acquisition marks Guess's first in its history and aims to leverage the brand's international potential while contributing $56.5 million to the deal.

Stay tuned with Omni Talk's Retail Daily Minute for more updates and don't forget to save 10% with code "OMNITALK" on your Shoptalk registration! #RetailNews #Walmart #Macy's #HomeDepot #Guess 🛍️📊👖