Stores and distributors that get everyday essentials onto shelves and into your home — supermarkets, warehouse clubs, and the wholesalers who supply them.
Sysco Posts $84.6 Billion Fiscal 2026 Sales, Guides Fiscal 2027 Adjusted EPS Up 9% to 11%
Sysco Corporation reported fiscal 2026 sales of $84.6 billion, up 3.9% from the prior year, with adjusted diluted earnings per share rising 3.4% to $4.61 while reported diluted EPS fell 1.9% to $3.66. The food distributor, which has raised its dividend for 57 consecutive years, pays an annual dividend of $2.20 per share for a yield of roughly 2.9%, a payout ratio of about 48% on adjusted EPS and around 60% on reported EPS. Fiscal 2026 operating cash flow reached $2.64 billion and free cash flow $2.11 billion, up 16.3% year over year, against about $1.04 billion paid out in dividends, roughly 49% of free cash flow, while net debt stood at about 2.7 times adjusted EBITDA at year end. The stock trades at about 21 times trailing earnings and 15 times forward earnings, with a price-to-sales ratio near 0.44. In its latest earnings release, Sysco guided fiscal 2027 adjusted EPS growth of 9% to 11%.
SYY · Capital · Positive Sysco reported fiscal 2026 sales of $84.6B and guided fiscal 2027 adjusted EPS growth of 9%-11%, a strong earnings/guidance event.
Laiyifen's first-half revenue falls 6.6% as losses widen; franchise share rises to 89% while gross margin declines
On October 9, Laiyifen held its 2026 interim results briefing, with Chairman Shi Yonglei, President Yu Ruifen and other senior executives attending to face investor questions. The interim report shows first-half revenue of 1.812 billion yuan, down 6.6% year on year; net loss attributable to the parent was 92.13 million yuan, widening 81.77% from a loss of 50.68 million yuan in the same period last year; net loss after deducting non-recurring items reached 110 million yuan, down 93.43% year on year; net cash flow from operating activities swung from a net inflow of 22.4 million yuan a year earlier to a net outflow of 82.98 million yuan, a year-on-year plunge of 470.54%. The company has now posted losses for two consecutive years, with a net loss attributable to the parent of 75.27 million yuan in 2024 and 161 million yuan in 2025. The channel structure has undergone a fundamental shift. As of June 30, 2026, the total number of stores was 2,968, a net increase of 150 from the end of 2025. Directly operated stores fell sharply from 1,044 to 318, a net reduction of 726 in the half year, while franchised stores rose from 1,774 to 2,650, lifting their share from 63% to 89%. In the first half, franchise wholesale revenue was 983 million yuan, up 36.1% year on year, with its share rising to 54.26% and becoming the largest revenue source, about 2.16 times the 455 million yuan from direct operations. However, the gross margin of the franchise business was only 11.71%, down 2.54 percentage points from 14.25% a year earlier, while the direct-operation gross margin remained above 40%. As a result, the company's overall gross margin fell to 23.66%, while selling expenses dropped 38.28% year on year over the same period. Shi Yonglei told investors that the company will optimise the profit model for individual franchise stores and deepen lean management, that the current share transfer at the shareholder level does not change corporate control, and that as of now there are no confirmed industrial synergy arrangements with Donghe Hengyi. To support the franchise system, the company relaxed its credit policy, with accounts receivable rising 51.40% year on year to 65.73 million yuan and long-term receivables surging 2,250.15% to 16.92 million yuan. Management said the financial assistance is a supporting measure during the transition period.
603777.CG · Capital · Negative First-half revenue fell 6.6% and net loss widened 81.77% to 92.13 million yuan, with operating cash flow swinging to a net outflow.
603777.CG · Pricing · Negative Franchise gross margin fell 2.54pp to 11.71%, dragging overall gross margin down to 23.66%.
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Consumer Staples Distribution & Retail▲
Costco September Net Sales Rise 13% as Margin Questions Linger
Costco Wholesale reported 13% growth in September net sales, a strong start to fiscal 2027, with management highlighting broad-based gains across same-store sales, e-commerce operations and international clubs. Analysts flagged that part of the sales lift appears tied to one-off or lower-margin drivers that may weigh on profitability. The company runs large membership-only warehouse clubs across North America, Europe and Asia, and the September figures touch both its warehouse rollout story and the economics behind it. Strong same-store performance and online gains suggest recent capital spending is at least supporting higher volumes, though analyst comments on temporary fuel, pharmacy or promotional activity put pressure on the assumption that traffic converts into healthy profitability. The article was produced by Simply Wall St.
Walmart Opens Fifth High-Tech Fulfillment Center in Stockton, California
Walmart has officially opened its fifth high-tech fulfillment center, a 900,000 square foot facility in Stockton, California, that expands capacity for processing online orders and speeds shipping and delivery for customers across the West Coast. Walmart Fulfillment Services, the company's end-to-end third-party fulfillment service, will also use the space to fulfill items sold by merchants on Marketplace. The next-generation e-commerce center features advanced automation, technology and AI-powered systems, including a high-density storage and retrieval system that reduces the traditional 12-step fulfillment process to five steps, cutting repetitive manual tasks and increasing storage and order capacity compared with a traditional fulfillment center. Walmart said the Central Valley location adds significant fulfillment capacity closer to West Coast customers and takes pressure off other fulfillment centers in its network. Walmart operates four other next-gen fulfillment centers, in Joliet, Illinois; McCordsville, Indiana; Greencastle, Pennsylvania; and Lancaster, Texas, positioned to enable next-day or two-day shipping to 95% of the U.S. population. E-commerce sales now represent 23% of total sales at Walmart. In August, the company announced plans to build a sixth ultra-modern e-commerce logistics hub, covering 1.5 million square feet, in Carnesville, Georgia, with construction expected to begin towards the end of the year and a total investment in the project, including hiring, of $1.3 billion. Both the Stockton and Carnesville locations will employ more than 1,000 workers at full operation.
WMT · Supply · Positive Walmart opened a 900,000 sq ft automated fulfillment center in Stockton, expanding e-commerce fulfillment capacity and speeding West Coast delivery.
Costco Draws Investor Attention as Earnings Estimates Rise
Costco Wholesale Corporation is drawing heightened investor attention, with its shares returning +5.1% over the past month versus the Zacks S&P 500 composite's +1.3% change. The company is expected to post earnings of $4.89 per share for the current quarter, a year-over-year change of +12.7%, and the Zacks Consensus Estimate has moved +1.4% over the last 30 days. For the current fiscal year, the consensus earnings estimate of $22.87 indicates a year-over-year change of +11.8%, while the next fiscal year's estimate of $24.94 points to a +9.1% change. Revenue forecasts show a consensus sales estimate of $73.99 billion for the current quarter, up +9.9% year over year, with $328.42 billion and $351.91 billion expected for the current and next fiscal years. Costco last reported revenues of $95.72 billion, a year-over-year change of +11.1%, with EPS of $6.6 versus $5.87 a year ago, and carries a Zacks Rank #3 (Hold).
High Tide Buys Chestermere Cannabis Store for $670,000
High Tide acquired an established cannabis retail store in Chestermere, Alberta, for $670,000 in cash, expanding its Canadian network to 234 locations, including 93 in Alberta. The transaction closed on October 8 and values the store at 2.1 times annualized adjusted EBITDA of approximately $316,000, based on the three months ended August 31, 2026. The store will be rebranded under High Tide's Canna Cabana banner.
Kroger Health President Colleen Lindholz Retires After 30 Years
Kroger announced that Colleen Lindholz, President of Kroger Health, is retiring after more than 30 years with the retailer. Lindholz led Kroger Health and its Food as Medicine platform, including pharmacy, clinic and wellness programs across the chain. The company credited her tenure with helping shape Kroger's broader healthcare approach and its integration with the grocery business. The leadership change lands where the Food as Medicine effort meets pharmacies, clinics and GLP 1 prescriptions, and comes as competitors like Walmart and Costco also lean on pharmacy and wellness. Kroger operates as a large US food and drug retailer, with its health division sitting alongside a nationwide grocery footprint.
Belc cuts February 2027 net profit forecast to 9.9 billion yen
Food supermarket operator Belc announced on the 9th that it is revising its consolidated earnings forecast for the fiscal year ending February 2027. The previous forecast was given as a range; while operating revenue is expected around the midpoint of that range, net profit is revised down to 9.9 billion yen from the previous range of 12.5 billion to 13.6 billion yen, and is now projected to fall below the prior year's actual result of 12.6 billion yen. Amid a stronger thrift mindset driven by rising prices and price competition with rival companies, customer traffic and items purchased per customer declined, causing first-half sales to fall short of plan. On the profit side as well, it became difficult to absorb costs through higher revenue, and rising purchase prices for goods such as packaging materials and soaring energy costs took their toll. The company expects the uncertain external environment and upward cost trend to continue in the second half.
9974.JP · Capital · Negative Belc cut its FY2027 net profit forecast to 9.9 billion yen from 12.5-13.6 billion, below prior-year actual, on weaker sales and rising costs.
6 brokerages expect CPALL net profit in Q3 2026 to reach 6.3 billion baht
Analysts at six brokerages estimate that CP All Public Company Limited, or CPALL, the operator of 7-Eleven convenience stores and a major shareholder of CP Axtra Public Company Limited, or CPAXT, will report net profit for the third quarter of 2026 in the range of 5.65 billion to 6.3 billion baht, declining both year-on-year and quarter-on-quarter, due to the impact of special expenses from portfolio adjustments and the closure of unprofitable CPAXT branches. Core profit is expected at 6.85 billion to 7.09 billion baht, growing 6 to 10 percent year-on-year, supported by same-store sales at 7-Eleven rising 2 to 2.5 percent on tourist spending, promotions, and stockpiling purchases during flooding, as well as continued branch expansion and a higher share of high-margin products. Bualuang Securities expects core profit of 7 billion baht and sets a target price of 62 baht for the end of 2027. Phillip Securities expects normal profit of 7.081 billion baht and has cut its base price to 58.75 baht. Krungsri Securities expects normal profit of 7.09 billion baht with a target of 66 baht. Asia Plus Securities expects net profit of 5.65 billion baht and has cut its target to 52.50 baht. KGI Securities expects net profit of 6.3 billion baht with a target of 58 baht, and Pi Securities expects normal profit of 7 billion baht with a base value of 61 baht. All six maintain a buy recommendation and expect profit in the fourth quarter of 2026 to return to growth on the seasonal year-end shopping period and the recovery of CPAXT.
CPALL.BK · Capital · Neutral Six brokerages estimate Q3 2026 net profit of 5.65-6.3bn baht, down YoY and QoQ on special expenses and CPAXT branch closures, while core profit grows 6-10% on 7-Eleven same-store sales; all maintain buy with mixed target prices.
Dollar Tree Amends By-Laws on Shareholder Meetings and Board Elections
Dollar Tree has amended its corporate by-laws, updating the rules governing shareholder meetings and board elections. The revisions adjust the procedures for calling special shareholder meetings, including how investors can formally request them, and refresh the mechanics of board elections, reshaping how director nominations, voting processes and related disclosures are handled. The changes also impose extra disclosure requirements on shareholders acting together, a move that could reduce surprise campaigns and give management more predictability. The company said the amendments do not directly touch its core earnings story, including earnings forecasts pointing to a small decline over the next three years and recent profit growth of 46.9%. Dollar Tree runs discount stores across the US and Canada and is described as a US$21.8b retailer. Investors are advised to watch the next proxy statement for the 2027 annual meeting and any shareholder proposals or director slates that test the updated advance notice and special meeting rules.
DLTR · Regulation · Neutral Dollar Tree amended its by-laws on shareholder meetings and board elections, imposing extra disclosure requirements on shareholders acting together.
Daiwa keeps Buy on CPAXT, target 17 baht, expects normal profit to recover to 3.3 billion baht in 4Q26E
Daiwa Securities estimates that CPAXT will post a net loss of 324 million baht in 3Q26E, but after excluding one-time expenses of about 2 billion baht related to the closure of small-format stores, normal profit is expected at 1.676 billion baht, down 10% YoY and 11% QoQ. The YoY decline stems from Retail SSSG contracting about 5% on still-fragile purchasing power, even though GPM is expected to expand to 16.4% from 16.1% in 3Q25 on better cost control and reduced shrinkage, as well as improved fresh food prices, but this is not enough to offset slowing revenue and higher SG&A. Meanwhile, profit fell QoQ even as GPM expanded from 15.9% in 2Q26, pressured by SG&A/Sales rising to 14.3% from 13.9% in 2Q26 due to employee expenses, Omni Channel expansion and last-mile delivery, plus pre-opening expenses for The Happitat. The research team cut its 2026E/27E normal profit forecasts by 4%/7% to 9.5/9.7 billion baht, or +1%/+3% YoY, on a slower-than-expected B2C recovery and still-high expenses. However, normal profit in 4Q26E is expected to rise to about 3.3 billion baht on seasonal factors and a year-ago base weighed down by IT system problems, flooding in Hat Yai, and border tensions. The closure of loss-making stores and cost controls will help reduce the expense burden and support profitability from 4Q26E onward. Daiwa maintains its Buy rating and target price of 17.00 baht, rolling the target to 2027E based on a PER of 18.3 times, which is 1.7 standard deviations below the five-year average. It views the current share price as having largely priced in the negatives from purchasing power and restructuring expenses, while the closure of loss-making stores will help reduce the expense burden and support the recovery of EBIT in 2027E.
CPAXT.BK · Capital · Positive Daiwa maintains Buy rating and 17.00 baht target, expecting normal profit to recover to 3.3 billion baht in 4Q26E as store closures cut expenses.
Bailian Group Repurchases 10.52 Million Shares for 82.07 Million Yuan
Bailian Group announced on October 9 that as of September 30, 2026, the company had repurchased a total of 10.52 million shares, accounting for 0.59% of its total share capital, with a total repurchase amount of 82.07 million yuan. The actual repurchase price range was 7.58 yuan to 8.13 yuan per share. In the first half of 2026, Bailian Group achieved revenue of 12.053 billion yuan and net profit attributable to the parent company of 913 million yuan.
Laobaixing to invest 5.1 million yuan in project company to develop pharmacy-plus new business format
Laobaixing announced on October 9 that it plans to jointly establish Changsha Zuobiao Limited Partnership with some directors and senior management personnel, and the partnership will set up a project company, Hunan Huoli Zuobiao Commercial Operation Management Co., Ltd., with registered capital of 10 million yuan. Laobaixing will contribute 5.1 million yuan in cash, holding a 51 percent stake. The project aims to explore a pharmacy-plus integrated new business format, drive a new growth curve for the company, and meet the needs of young and middle-aged sub-health customer groups. This transaction constitutes a related-party transaction, mainly involving company director Tan Jian and senior management personnel Su Shiyong, Chen Lishan, and Feng Shini. In the first half of 2026, Laobaixing achieved revenue of 10.998 billion yuan and net profit attributable to the parent company of 447 million yuan.
603883.CG · Capital · Positive Laobaixing will invest 5.1 million yuan for a 51% stake in a new project company to explore a pharmacy-plus business format.
湖南活力坐标商业运营管理有限公司 · Capital · Positive Hunan Huoli Zuobiao is the newly established project company receiving 10 million yuan registered capital to develop the pharmacy-plus format.
长沙坐标有限合伙企业 · Capital · Positive Changsha Zuobiao Limited Partnership is being jointly established to set up the project company for the pharmacy-plus venture.
Laobaixing Repurchases 3.24 Million Shares for 41.62 Million Yuan
Laobaixing announced on October 9 that as of September 30, 2026, the company had repurchased a total of 3.24 million shares, accounting for approximately 0.43% of its total share capital, with a total repurchase amount of 41.62 million yuan and a repurchase price range of 12.55 yuan to 13.03 yuan per share. In the first half of 2026, Laobaixing achieved revenue of 10.998 billion yuan and net profit attributable to the parent company of 447 million yuan.
Costco September Net Sales Rise 13% to $30.02 Billion on 11.4% Comparable Sales Growth
Costco Wholesale Corporation reported net sales of $30.02 billion for the five weeks ended Oct. 4, 2026, a 13% increase from $26.58 billion a year earlier, accelerating from growth of 9.9% in August and 10.7% in July. Total comparable sales rose 11.4%, also an improvement from 8.4% in August and 8.9% in July, with U.S. comparable sales up 12.5%, Canada up 6.3% and Other International markets up 10.8%. Excluding gasoline price changes and foreign exchange fluctuations, total comparable sales advanced 7.6%, with the United States up 8%, Canada up 4.9% and Other International markets up 7.7%. Digitally enabled sales increased 19% year over year on a reported basis and 19.1% excluding foreign exchange fluctuations. The timing of Labor Day, which fell one week later than last year in the United States and Canada, benefited total and comparable sales by slightly more than 50 basis points.
COST · Demand · Positive Costco reported 13% net sales growth to $30.02B and 11.4% comparable sales growth, with digitally enabled sales up 19%.
COSTCO80.BK · Demand · Positive Costco reported 13% net sales growth to $30.02B and 11.4% comparable sales growth, with digitally enabled sales up 19%.
United Natural Foods Posts Q4 Beat, Sets Fiscal 2027 Guidance
United Natural Foods reported fourth-quarter fiscal 2026 results that beat the Zacks Consensus Estimate on both the top and bottom lines. Adjusted earnings came in at 69 cents per share, up from an adjusted loss of 11 cents a year earlier and ahead of the 62-cent consensus, while net sales fell 0.7% year over year to $7,642 million but topped the $7,576 million consensus by 0.87%. By division, Natural segment sales rose 6.6% to $4,260 million, Conventional sales fell 8.6% to $3,121 million, and Retail sales declined 7.9% to $528 million. Gross profit increased 1.9% to $1,050 million and the gross profit rate improved to 13.7% of net sales from 13.4%, while adjusted EBITDA rose 48.3% to $172 million. The company repurchased 420,502 shares for about $21 million during the quarter and its board authorized a new $200 million share repurchase program, and for fiscal 2027 it guided to net sales of $31.2-$31.8 billion, GAAP earnings of $1.70-$2.30 per share, adjusted earnings of $3.00-$3.50 per share, and adjusted EBITDA of $730-$780 million.
UNFI · Capital · Positive Q4 earnings beat on both top and bottom lines with adjusted EPS of 69 cents vs 62-cent consensus and adjusted EBITDA up 48.3%.
Casey's Q1 Earnings Beat Estimates as Revenue Jumps 24.3%
Casey's General Stores reported first-quarter fiscal 2027 earnings of $7.37 per share, up 27.7% year over year and ahead of the Zacks Consensus Estimate of $6.60, while revenues rose 24.3% to $5,678.3 million and beat the $5,624 million consensus mark. Inside same-store sales rose 3.2% and total inside sales increased 5.6% to $1,777.5 million, with prepared food and dispensed beverage same-store sales up 4.8% on positive traffic led by whole pizzas, lifting inside gross profit 6.3% to $749.8 million and expanding inside margin about 30 basis points to 42.2%. Total fuel gallons sold increased 2.5% to 934.2 million gallons even as same-store gallons slipped 0.3%, and fuel gross profit climbed 19.6% to $446.9 million as fuel margin excluding credit card fees widened to 47.8 cents per gallon from 41 cents a year earlier. Net income advanced 27.1% to $273.7 million and EBITDA rose 17.1% to $485.1 million, though operating expenses increased 8% to $754.1 million. The company ended the quarter with 2,959 stores, repurchased about $45.6 million of shares with roughly $973 million remaining under its authorization, and approved a quarterly dividend of 65 cents per share payable on Nov. 13, 2026, while keeping its fiscal 2027 outlook unchanged and targeting at least 400 additional stores and roughly $2 billion of free cash flow under a new three-year plan.
CASY · Capital · Positive Q1 EPS of $7.37 beat the $6.60 consensus and net income rose 27.1% on 24.3% revenue growth.
CASY · Demand · Positive Inside same-store sales rose 3.2% with prepared food and dispensed beverage same-store sales up 4.8% on positive traffic led by whole pizzas.
Costco International Revenue Hits $13.05 Billion as Canada Misses Estimates
Costco's international operations delivered mixed results for the quarter ending August 2026, with total company revenue reaching $95.72 billion, up 11.1% year over year. The Other International segment generated $13.05 billion, or 13.6% of total revenue, beating the Wall Street consensus of $12.79 billion by 2.04%, while Canada contributed $12.79 billion, or 13.4% of the total, falling 2.94% short of the $13.17 billion analysts expected. In the prior quarter, Other International contributed $9.68 billion and Canada $9.41 billion, and in the year-ago quarter they contributed $12.03 billion and $11.9 billion respectively. Looking ahead, analysts project Costco will post $73.87 billion in revenue for the current fiscal quarter, up 9.8% year over year, with Other International expected to contribute $10.51 billion, or 14.2%, and Canada $10.01 billion, or 13.6%. For the full year, total revenue is expected to reach $328.37 billion, up 8.3%, with Other International at $45.82 billion, or 14%, and Canada at $44.22 billion, or 13.5%.
COST · Demand · Neutral Other International revenue beat estimates but Canada revenue missed, a mixed demand picture for Costco's international segments.
Tesco chief urges retailers be exempt from warehouse tax raid
Ken Murphy, the chief executive of Tesco, has urged John Healey to exclude retailers from "fundamentally unfair" plans to mount a tax raid on large warehouses in the Budget. Murphy said the current business rate regime had already left the retail sector paying four times more than it should given its size within the overall economy, and called for an "exemption for all retail businesses from the new rateable value threshold", arguing high street retailers should not pay a higher business rate multiplier on larger warehouses with a rateable value of more than £500,000. Rachel Reeves introduced a higher rate surcharge for larger commercial properties in last year's Budget, which came into force in April, and Andy Burnham has since signalled this so-called "Amazon tax" could be ramped up further on warehouses in the upcoming Budget to help fund an announced 20pc rate cut for smaller businesses that "bring social benefit", such as pubs and live music venues, from next April. Retail bosses have warned the new rates could be passed on to consumers as higher prices, since high street supermarkets rather than online retailers occupy the majority of warehouse space, and analysis by the consultancy firm Ryan showed the 10 warehouses with the biggest business rates bills in the country are owned by Lidl, Tesco, John Lewis, Sainsbury's and Marks & Spencer. Murphy's comments came as Tesco increased its profit guidance, telling investors it expected to make between £3.15bn and £3.3bn in the year to February, up from the £3bn to £3.3bn range projected in April, with like-for-like UK sales up 1.5pc in the first six months of the financial year to the end of August and 1pc higher for the group as a whole, while operating profits climbed 6.6pc to £1.7bn. Murphy also said he expected a less boozy Christmas than in previous years, with more sales of "low and no" alcohol drinks reflecting a trend towards healthier eating and drinking dating back to the pandemic.
TSCO.LSE · Capital · Positive Tesco raised its full-year profit guidance to £3.15bn-£3.3bn with operating profits up 6.6% to £1.7bn.
TSCO.LSE · Regulation · Negative Tesco's CEO is fighting plans to extend a higher business-rate surcharge to large warehouses, which would raise costs for Tesco's many big stores.
Seven & i reports Q2 operating profit down 11% to 127.3 billion yen
Seven & i Holdings, the operator of 7-Eleven convenience stores in Japan, reported on October 8 that its second-quarter operating profit fell 11% year on year to 127.3 billion yen, or about 805 million US dollars, in the June-to-August period, down from 132.3 billion yen in the same period a year earlier, amid pressure from inflation weighing on consumption in Japan and intensifying competition. However, excluding the deconsolidation of York Holdings, the parent of its non-core businesses, and Seven Bank from its consolidated results, operating profit for the six months ended August rose 137% year on year. Overseas convenience store operations improved, supported by high oil prices, which boosted profit at convenience stores and gas stations in North America. In Japan, convenience store operating profit for the six months ended August fell 12% from a year earlier, as inflation continued to weigh on consumption while competitors captured more market share.
Walmart Launches One-Hour Express Pickup for Walmart+ Members
Walmart has introduced Express Pickup, a service that lets Walmart+ members get eligible orders ready for curbside collection in as little as one hour, alongside a new in-store "Shop to Light" guidance feature. The move tightens the link between Walmart's app, rapid pickup and in-aisle navigation, deepening digital engagement at the start of the peak holiday shopping period. The company's narrative projects $839.4 billion in revenue and $29.5 billion in earnings by 2029, requiring 4.5% yearly revenue growth and about a $7.4 billion earnings increase from $22.1 billion today, with a fair value of $126.78 implying 17% upside to its current price. Fifteen members of the Simply Wall St Community currently see Walmart's fair value between US$65.80 and US$154.58. The expansion of Walmart Connect, framed as a high-margin incremental profit pool, could interact with any uplift in digital engagement, though ultra-fast fulfillment and last-mile logistics remain a risk to margins if they are hard to monetize.
WMT · Demand · Positive Walmart launched Express Pickup one-hour curbside service for Walmart+ members, deepening digital engagement and tightening app-to-fulfillment link at peak holiday shopping.
Seven & i Holdings Posts 11.5% Rise in Interim Operating Profit for August 2026 on Strong Overseas Convenience Stores
Seven & i Holdings announced on the 8th its consolidated financial results for the interim period ending August 2026, reporting an operating profit of 232.2 billion yen, up 11.5% from the same period a year earlier. Its overseas convenience store business, which sells gasoline, performed strongly amid fluctuations in crude oil prices. Net profit rose 2.2% to 124.4 billion yen. Operating revenue, equivalent to sales, fell 2.8% to 5.4602 trillion yen, reflecting the deconsolidation of York Holdings and Seven Bank.
3382.JP · Capital · Positive Interim operating profit rose 11.5% to 232.2 billion yen with net profit up 2.2%, driven by strong overseas convenience store results.
Seven & i Holdings Interim Operating Profit Up 11.5% on Strong Overseas Convenience Stores
Seven & i Holdings announced on the 8th its consolidated interim results for the fiscal period ending August 2026, reporting operating profit of 232.2 billion yen, up 11.5% from the same period a year earlier. Amid fluctuations in crude oil prices, its overseas convenience store business, which sells gasoline, performed strongly. Net profit rose 2.2% to 124.4 billion yen. Operating revenue, equivalent to sales, fell 2.8% to 5.4602 trillion yen, reflecting the deconsolidation of York Holdings and Seven Bank.
Seven & i Holdings Interim Net Profit Rises 2.2% to 124.4 Billion Yen; Domestic Convenience Store Business Posts Profit Decline
Seven & i Holdings reported on the 8th that its consolidated net profit for the interim period of the fiscal year ending February 2027, covering March through August 2026, rose 2.2% year on year to 124.4 billion yen. Operating profit in the domestic convenience store business fell 9.8% year on year to 109.8 billion yen. In the overseas convenience store business, customer traffic declined amid a tough external environment that included persistently high gasoline prices, and same-store merchandise sales in the United States came in slightly below the year-earlier period. For full-year net profit, the company maintained its previous forecast of 278 billion yen, a decline of 5%, in line with the average of 277.8 billion yen from forecasts by 16 analysts compiled by IBES.
3382.JP · Capital · Neutral Interim net profit rose 2.2% to 124.4 billion yen, but domestic convenience store operating profit fell 9.8% and US same-store sales were slightly below year-earlier levels.
Ministop to Post 5 Billion Yen Net Loss for Fiscal Year Ending February 2027 as In-Store Prepared Foods Fall Short of Plan
Ministop announced on the 8th that its consolidated results for the fiscal year ending February 2027 are expected to show a net loss of 5 billion yen. The prior-year result was a loss of 5.6 billion yen, and the company had previously forecast a profit of 100 million yen. In-store prepared foods, which the company strengthened to offset declining sales of handmade rice balls and other items, fell short of plan due to delays in product lineup and unfavorable weather. The impact was compounded by an impairment loss of 800 million yen on fixed assets including owned stores.
9946.JP · Capital · Negative Ministop expects a 5 billion yen net loss for FY ending Feb 2027, reversing its prior 100 million yen profit forecast, compounded by an 800 million yen impairment loss.
Life Corporation Interim Net Profit Falls 7.9% as Labor Costs Swell
Life Corporation reported on the 8th that its consolidated interim results for the fiscal year ending February 2027, covering the March-to-August period, showed a net profit of 8.5 billion yen, down 7.9% from the same period a year earlier. Property costs tied to new store openings, along with higher personnel expenses from improved employee treatment, pushed up selling, general and administrative costs, and operating profit also fell 6.4% from a year earlier to 12.4 billion yen. Revenue rose 2.3% year on year to 450 billion yen, helped by new store openings, renovations of existing stores, expansion of online sales, and stronger private-label products. The company left its full-year earnings forecast for the fiscal year ending February 2027 unchanged, with net profit projected at 19 billion yen, up 0.9% from the previous year.
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Consumer Staples Distribution & Retail▲
Costco September net sales rise 13.0% to $30.0B as comparable sales climb 11.4%
Costco Wholesale Corporation reported net sales of $30.0B for the retail month of September, an increase of 13.0% from a year ago. Comparable sales for the five-week period that ended October 4 were up 11.4%, including a 12.5% increase in the U.S., a 6.3% rise in Canada, and a 10.8% gain for other international markets, while e-commerce comparable sales shot up 19.0% for the month. After stripping out the impact of foreign exchange and gas prices, comparable sales were up 7.6% during the month, including an increase of 8.0% in the U.S. The Issaquah, Washington-based company said a calendar shift from Labor Day, which occurred one week later this year in the U.S. and Canada, positively impacted September total and comparable sales by a little more than 50bps, and it pointed to category strength in sundries, frozen food, gas, housewares, gift cards, and the food court. Costco currently operates 939 warehouses, including 647 in the United States and Puerto Rico, 115 in Canada, 43 in Mexico, 37 in Japan, 29 in the United Kingdom, 20 in Korea, 15 in Australia, 14 in Taiwan, seven in China, five in Spain, three in France, two in Sweden, and one each in Iceland and New Zealand.
COST · Demand · Positive Costco reported September net sales up 13.0% to $30.0B with comparable sales up 11.4% and e-commerce comps up 19.0%, reflecting strong end-customer demand.
Costco September Net Sales Rise 13.0% to $30.02 Billion
Costco Wholesale Corporation reported net sales of $30.02 billion for the retail month of September, the five weeks ended October 4, 2026, an increase of 13.0 percent from $26.58 billion last year. Total company comparable sales rose 11.4 percent for the five weeks, with U.S. comparable sales up 12.5 percent, Canada up 6.3 percent and other international up 10.8 percent. Excluding the impacts from changes in gasoline prices and foreign exchange, total company comparable sales increased 7.6 percent, with the U.S. up 8.0 percent, Canada up 4.9 percent and other international up 7.7 percent. Digitally-enabled sales increased 19.0 percent year-over-year, or 19.1 percent excluding foreign exchange. Costco said Labor Day in the U.S. and Canada occurred one week later this year, positively impacting September total and comparable sales by a little more than 50bps, and the company currently operates 939 warehouses.
COST · Demand · Positive Costco reported September net sales up 13.0% to $30.02B with comparable sales up 11.4%, reflecting strong end-customer demand.
MOTHER opens new branches in Ao Nang and Khlong Haeng to capture tourism high season
Mother Marketing Public Company Limited, or MOTHER, is preparing to open new branches in the Ao Nang area and Khlong Haeng district of Krabi province in November 2026 to capture high-season tourist volumes and increase market share in high-potential areas. Managing Director Ekapong Chokchaiwitat told Than Hoon that fourth-quarter 2026 operating results are expected to hold steady at levels close to the previous period, amid economic conditions and purchasing power that remain challenging. The tourism season will begin around mid-November after the Loy Krathong festival, continuing through the New Year holiday and stretching into January and February, before the Songkran festival. For its 2027 business plan, the company plans to open approximately 3 to 5 new branches with total investment of about 30 million baht, and targets same-store sales growth, or SSSG, of about 3% from 2026, which is expected to be flat. It also targets 2027 sales growth of about 8% from this year, when sales are expected to come in at approximately 1.55 billion baht, supported by new branch openings, same-store sales growth, and the recovery of the tourism sector. The gross profit margin is expected to remain at a level close to last year.
Kroger Q2 Revenue Rises 2% to $34.62 Billion as Grocery Group Beats Estimates
Kroger reported second-quarter revenues of $34.62 billion, up 2% year on year and in line with analysts' expectations, as the four grocery store stocks tracked by the report collectively beat consensus revenue estimates by 0.7%. Kroger's quarter was satisfactory overall, with full-year EPS guidance beating analysts' expectations but a slight miss on gross margin estimates, and the stock is up 2.6% since reporting, trading at $58.45. Grocery Outlet posted the best quarter of the group, with revenues of $1.19 billion, up 1.1% year on year and 2.1% above expectations, alongside beats on EPS and EBITDA estimates; its shares are up 12.9% since reporting at $11.49. Albertsons had the weakest quarter, with revenues of $24.94 billion, flat year on year and 0.6% above expectations, but full-year EBITDA guidance missing significantly and a significant EBITDA miss; its stock is down 21.3% at $11.48. Sprouts reported revenues of $2.33 billion, up 4.7% year on year and in line with expectations, the fastest growth in the group, though next-quarter and full-year EPS guidance missed significantly, and its shares are down 17.1% at $65.63. On average, the group's share prices are down 5.7% since the latest earnings results.
ACI · Capital · Negative Albertsons had the weakest quarter with flat revenue, a significant EBITDA miss, and full-year EBITDA guidance missing significantly, sending shares down 21.3%.
GO · Capital · Positive Grocery Outlet posted the best quarter of the group with revenue, EPS, and EBITDA beats, and shares are up 12.9% since reporting.
KR · Capital · Positive Kroger's Q2 revenue rose 2% to $34.62B and full-year EPS guidance beat expectations, though gross margin slightly missed.
SFM · Capital · Negative Sprouts posted the fastest revenue growth but next-quarter and full-year EPS guidance missed significantly, with shares down 17.1%.
Target Revives Simply Shabby Chic Line to Boost Home Sales
Target is bringing its Simply Shabby Chic home line back to stores nationwide and Target.com starting October 11, reviving a partnership that first launched in 2004 and was quietly discontinued after two decades. The initial assortment of bedding, decorative pillows and throws will be followed by a holiday collection, with most items priced under $50. The return of Simply Shabby Chic is part of a broader strategy by the retailer to introduce more outside labels and increase sales for its in-house home furnishing and décor brand, Threshold. Target recently brought back designer Issac Mizrahi as the company's first-ever Creative Director at Large and launched a new collection from designer Rosie Assoulin. Shabby Chic was founded in 1989 by Rachel Ashwell and offered bedding and home goods with a romantic, relaxed, vintage aesthetic.
Casey's General Stores reported first-quarter fiscal 2027 grocery and general merchandise sales of $1.28 billion, up 4.9% year over year, with same-store sales up 2.7% and up 6.5% on a two-year stacked basis. Category gross profit reached $457.8 million, up from $439.5 million a year earlier, as non-alcoholic beverages remained a key sales driver. Energy drink sales rose 12% in the quarter, while nicotine alternatives grew 47% as Casey's expanded space for those products, which management said carry margins roughly double those of combustible cigarettes. Ready-to-drink cocktail sales grew more than 30%, partially offsetting beer weakness, and private-label snacks posted strong growth as national-brand price increases pressured snack demand. For fiscal 2027, Casey's reiterated guidance for inside same-store sales growth of 2-5% and an inside margin above 42%, covering grocery and general merchandise alongside prepared food and dispensed beverages.
CASY · Demand · Positive Q1 grocery and general merchandise sales rose 4.9% to $1.28B with same-store sales up 2.7% and category gross profit up to $457.8M.
Target's Same-Day and Next-Day Units Jump Nearly 30% on Faster Fulfillment
Target Corporation fulfilled nearly 30% more same-day and next-day units year over year in the second quarter of fiscal 2026, with same-day delivery rising more than 25% and helping drive an 8.7% increase in comparable digital sales. The retailer fulfills more than 95% of its sales through stores, and said overall inventory reliability metrics reached multiyear highs while availability of its most frequently purchased items was the strongest in recent years. Target is also using Proxima, its digital twin of the middle-mile inventory positioning system, to test inventory-flow plans before implementation. For comparison, Walmart U.S. e-commerce sales rose 24% in second-quarter fiscal 2027, with store-fulfilled delivery sales up more than 40% and fast delivery in the United States climbing 48%, while Dollar General said delivery contributed an estimated 40 basis points to comparable-sales growth in the second quarter of fiscal 2026. Target shares have rallied 16.6% over the past three months against the industry's 3% decline, and management raised fiscal 2026 sales and EPS guidance.
MOTHER poised to benefit from high season as SiamWings launches direct Krabi–Russia flights, boosting Q4 sales
Mother Marketing Public Company Limited, or MOTHER, looks set to benefit from a lively tourism sector during the year-end high season, after SiamWings Airlines launched its inaugural flight on the Krabi–Novosibirsk route in Russia with 345 passengers on board, and plans to expand flights connecting several Russian cities throughout October, which should help draw more foreign tourists to Krabi province. The rise in foreign tourists is expected to lift the mood for spending and retail businesses in the area, especially in the fourth quarter of 2026, a key tourism season for Krabi. This is therefore another positive factor for MOTHER, which stands to gain from stronger purchasing power and higher sales in the year-end period.
MOTHER.BK · Demand · Positive More Russian tourists to Krabi from SiamWings' new direct flights is expected to lift spending and retail sales for MOTHER in Q4.
SiamWings Airlines · Demand · Positive SiamWings launched its inaugural Krabi–Novosibirsk flight with 345 passengers and plans to expand Russian routes in October, boosting its own passenger demand.
Walmart Expands Walmart Connect to Live TV, Streaming Audio and CTV
Walmart is expanding its Walmart Connect advertising unit so that advertisers can use its shopper data across live TV, streaming audio and connected TV. The retailer is partnering with Warner Bros. Discovery, Spotify and Yahoo to extend commerce media campaigns beyond its own properties, letting marketers programmatically activate Walmart shopper audiences and measure performance across those third party media platforms. Walmart Connect's advertising business is already framed as a roughly 70% margin business with incremental profit, and the company is trying to turn its shopper data and physical footprint into a media network that reaches far beyond its own apps and website. The clearest early signal for investors will be whether management breaks out more detail on Walmart Connect, such as ad revenue growth or advertiser count linked to the new partners, in upcoming quarterly updates.
WMT · Demand · Positive Walmart expands its high-margin Walmart Connect ad unit to live TV, streaming audio and CTV via new partners, broadening its advertising business.
SPOT · Demand · Positive Spotify is named as a partner letting Walmart advertisers activate shopper audiences on its streaming audio platform, expanding ad demand.
WBD · Demand · Positive Warner Bros. Discovery is named as a partner for Walmart Connect's live TV/CTV ad expansion, bringing incremental advertising demand.
Kasikorn Securities Expects CPALL's Q3 2026 Normal Profit to Grow 10.8% on Strong CVS Business
Kasikorn Securities estimates that CP All Public Company Limited, or CPALL, will report net profit of 6.3 billion baht for the third quarter of 2026, down 4.2% year on year and 15.9% quarter on quarter. Excluding one-time items, normal profit is expected to come in at 7.2 billion baht, up 10.8% year on year and down 3.1% quarter on quarter, supported by stronger performance in the convenience store, or CVS, business. The CVS business and related operations are expected to report profit growth of 27% year on year. For the first nine months of 2026, net profit is expected at 23 billion baht, up 9.7% year on year, accounting for 74.7% of the full-year estimate. Third-quarter 2026 sales are expected at 253.5 billion baht, up 4.5% year on year and down 1.4% quarter on quarter, of which 123.6 billion baht comes from the CVS business, up 8.6% year on year and flat quarter on quarter. Same-store sales growth is expected at 2%. The impact from flooding remains limited, with some products, particularly ready-to-eat items, in short supply at certain 7-Eleven branches due to distribution problems, but restocking is expected to return to normal by mid-October, and fourth-quarter 2026 profit should recover both year on year and quarter on quarter. The research team maintains a Buy rating on CPALL with a target price of 57.20 baht based on the discounted cash flow method with a discount rate of 9.7%. CPALL is scheduled to announce its third-quarter 2026 financial statements on November 11.
CPALL.BK · Capital · Positive Kasikorn Securities maintains Buy rating with 57.20 baht target and forecasts normal Q3 2026 profit up 10.8% y/y on strong CVS performance.
Kasikorn Securities Expects CPAXT to Post Net Loss of 143 Million Baht in Q3 2026, Sets Target Price at 15.60 Baht
Kasikorn Securities estimates that CP Axtra Public Company Limited, or CPAXT, will report a net loss of 143 million baht in the third quarter of 2026, mainly due to one-time expenses estimated at 1.5 billion baht related to the closure of 500 to 900 Go Fresh stores and the Siem Reap branch in Cambodia. The Go Fresh closure plan compares with a total of 2,225 stores as of the end of the second quarter of 2026. Excluding one-time items, normal profit is expected at 1.4 billion baht, down 25% both year-on-year and quarter-on-quarter, partly reflecting losses from Happitat, while TFP will contribute only a small share of profit after being consolidated from September 1, 2026. Third-quarter 2026 sales are forecast at 123 billion baht, up 0.9% year-on-year but down 2.8% quarter-on-quarter. Same-store sales growth for Makro's B2B business stood at positive 1% on the Thai Help Thai campaign, while same-store sales growth for Lotus's B2C business is expected to weaken to around negative 5%. Gross profit margin is expected to rise 10 basis points year-on-year to 14.4%. Selling, general and administrative expenses as a proportion of normal revenue are expected to rise to 14.6%, or up 80 basis points year-on-year and 70 basis points quarter-on-quarter, due to last-mile delivery costs and higher personnel expenses in the wholesale business, as well as expenses from the launch of Happitat after it opened on August 21. Kasikorn Securities maintains a hold rating on CPAXT with a target price of 15.6 baht, seeing limited upside given still-limited short-term profit drivers, and will review its earnings forecasts again after the results are announced. CPAXT is scheduled to report its third-quarter 2026 financial statements on November 6.
CPAXT.BK · Capital · Negative Kasikorn Securities forecasts a Q3 2026 net loss of 143 million baht on 1.5 billion baht of one-time store-closure costs and maintains a hold rating with a 15.6 baht target price.
Target Cuts Prices on Nearly 2,000 More Items as Comparable Sales Rise
Target Corporation is lowering prices on nearly 2,000 apparel, home, and accessories items as the holiday shopping season gets underway, following more than 10,000 price cuts over the past year. The cuts include women's long-sleeve T-shirts now $12 versus $15 previously and Threshold queen comforters reduced from $89 to $69, with the refreshed bedding lineup priced 15% lower on average. Comparable sales grew 5.6% in the first quarter and 3.8% in the second quarter, while second-quarter traffic rose 3.6% and digital comparable sales climbed 8.7%. Target is set to hold its Circle Deal Days event on October 6-7 for loyalty members, directly competing with Amazon's Prime Big Deals Day. Shares have already climbed more than 60% year-to-date, and with tariffs and reinvestment spending pressuring operating margins, analysts remain divided, with several maintaining Neutral or Sell ratings. Hedge fund ownership fell from 68 funds at the end of Q1 2026 to 63 at the end of Q2 2026, and short interest stood at 3.7% of the float as of September 15, 2026.
TGT · Pricing · Neutral Target is cutting prices on nearly 2,000 more items, a margin-pressuring pricing move, while comparable sales and traffic rose.
TGT · Capital · Neutral Analysts remain divided with Neutral or Sell ratings and tariffs/reinvestment pressure operating margins.
Krungsri expects CPALL's Q3 2026 normalized profit at 7,090 million baht, up 10%
Krungsri Securities estimates that CPALL's normalized profit for the third quarter of 2026 will come in at 7,090 million baht, up 10% year on year but down 4% quarter on quarter, supported by sales growth of 4% year on year led by the 7-Eleven business, where same-store sales, or SSS, are expected to grow 2%, accelerating from 0.8% in the second quarter of 2026 thanks to the long holidays in July and stockpiling at the end of September. CPAXT, meanwhile, remains under pressure from its large-format retail business, with SSS expected to fall 5% due to the effects of the Thai Help Thai Plus program, though the wholesale business is starting to recover, with SSS expected to return to growth of 1% from a decline of 0.9% in the previous quarter. Total sales in the third quarter of 2026 are expected at 251 billion baht, up 4% year on year but down 2% quarter on quarter, with 7-Eleven, which accounts for 48% of revenue, expected to grow 6% year on year and its store count expected to rise to 16,444. CPAXT, which accounts for 51% of revenue, is expected to post sales growth of just 1% year on year. The gross margin is expected at 23.0%, up 20 basis points both year on year and quarter on quarter. However, special expenses from CPAXT's restructuring of unprofitable stores, amounting to about 992 million baht after tax, which CPALL recognizes in proportion to its 59.9% stake, will weigh on net profit for the third quarter of 2026, bringing it to 6,100 million baht, down 8% year on year and 19% quarter on quarter. Krungsri Securities maintains its buy recommendation and its 2027 target price of 66 baht, viewing the stock's weakness on CPAXT concerns as an opportunity to accumulate, with the shares trading at a forward PER of just 11.8 times, one standard deviation below the historical average, and a dividend yield of nearly 4%.
CPALL.BK · Capital · Positive Krungsri estimates CPALL's Q3 2026 normalized profit at 7,090 million baht, up 10% YoY, and maintains a buy rating with a 66 baht target price.
CPAXT.BK · Demand · Negative CPAXT's large-format retail same-store sales are expected to fall 5% due to the Thai Help Thai Plus program, with total sales growth of just 1% YoY.
Asia Plus Expects CPAXT to Post a Net Loss of 346 Million Baht in Q3 2026, Cuts Target Price to 14.90 Baht
Asia Plus Securities' research team expects CPAXT to report a net loss of 346 million baht for the third quarter of 2026, down 118% from the previous quarter and 119% from a year earlier, as it anticipates an extraordinary loss from the closure of unprofitable small-format Lotus stores operating under the Lotus's Go Fresh banner, amounting to roughly 2.0 billion baht. Excluding that item, core profit is expected at 1.65 billion baht, down 12% from the previous quarter and 11% from a year earlier. The contraction in core profit stems from an expected 2% decline in sales due to rainy-season seasonality, lost sales from the closed Lotus stores, and the negative impact of not participating in the Thai Chuay Thai Plus program, while selling and administrative expenses as a percentage of sales rose 0.5% to 14.4% on costs ahead of the opening of Happitat and spending to expand logistics capacity. The research team also cut its core profit forecasts for 2026 and 2027 by 1% to 5%, to 9.3 billion baht, down 0.4% from a year earlier, and 10 billion baht, up 7% from a year earlier, respectively. It maintained its valuation basis at a PER of 15.6 times, minus 1.0 standard deviation, bringing the 2027 target price down to 14.90 baht from 15.70 baht. It kept its Trading recommendation, though it sees the share price possibly pressured in the short term by the weak profit outlook in the third quarter of 2026, while still expecting a significant profit recovery in the fourth quarter of 2026.
CPAXT.BK · Capital · Negative Asia Plus expects CPAXT to post a 346 million baht Q3 2026 net loss and cuts its target price to 14.90 baht from 15.70 baht.
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