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Walmart's big win, Target's huge miss, and Costco's membership deal: Retail news roundup

Quartz

qz.com › amazon-walmart-target-black-friday-deals-1851705425

Walmart is hitting the sweet spot with both high- and low-income shoppers. However, the retail giant is feeling the pressure from the rise of popular GLP-1 drugs like Ozempic, and warns prices may increase if President-elect Trump’s tariffs are enacted. Meanwhile, Target is struggling to balance consumer demand and…

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Target's earnings miss isn't about the U.S. port strike. Here's what happened

Quartz

qz.com › target-q3-2024-earnings-miss-port-strike-supply-demand-1851705255

When Target’s (TGT) earnings fell drastically short of expectations on Wednesday, executives pointed to the U.S. port strike as a key factor. However, the retailer’s troubles – which pushed its stock down 21% to a one-year low – go much deeper than shipping costs and an inventory glut.

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The Dow jumped more than 500 points after Nvidia’s big earnings

Quartz

qz.com › dow-rises-500-points-nvidias-earnings-bitcoin-1851705214

The Dow surged by over 570 points Thursday afternoon, buoyed by strong earnings from Nvidia (NVDA), which briefly hit a 52-week high of $152.89 per share earlier in the day. Meanwhile, shares of Super Micro Computer (SMCI) rose over 14% after Nvidia mentioned its partner during an earnings call on Wednesday.

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The CEO of Spirit Airlines got a $3.8 million bonus not to bail

Quartz

qz.com › spirit-airlines-bankruptcy-ceo-retention-bonus-1851705042

Spirit Airlines hopes to emerge from its just-filed bankruptcy by the spring of 2025, but it needs people to run the company until then. That’s part of why CEO Ted Christie got a $3.8 million bonus just under a week before the carrier filed for insolvency.

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Walmart, Target, and Aldi's Thanksgiving deals

Quartz

qz.com › walmart-target-aldi-thanksgiving-deal-holiday-shopping-1851704938

There’s some good news for Thanksgiving hosts: The cost of a traditional Thanksgiving dinner is down for the second year in a row, according to the American Farm Bureau Federation’s (AFBF) annual survey.

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Spirit Airlines is now in 'Wolf of Wall Street' territory

Quartz

qz.com › spirit-airlines-stock-delisted-wolf-of-wall-street-1851704813

Spirit Airlines (SAVEQ) is enduring another inevitable embarrassment of its recent bankruptcy declaration: Its stock has been delisted by the New York Stock Exchange. Shares, which are practically at zero, will now trade in the “pink sheet” market outside of the major venues.

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Musk and Ramaswamy's DOGE will work with Marjorie Taylor Greene on cost-cutting

Quartz

qz.com › musk-ramaswamy-trump-doge-congress-mtg-rfk-jr-cuts-1851704757

Elon Musk and Vivek Ramaswamy have laid out their plans for the Department of Government Efficiency (DOGE). Despite being labeled an “outside of government” group by President-elect Donald Trump, the two say that DOGE will work closely with Congress and the executive branch.

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