Amazon, Walmart, Costco Are Gobbling Up New Retail Business -- Market Talk

Dow Jones11-21 00:21

1121 ET - Amazon and Walmart are bagging a major share of new retail business, spelling trouble for companies like Target. Morgan Stanley analysts say in a research note that Amazon and Walmart are getting about 36% of incremental retail sales. Costco, meanwhile, is also gaining momentum with about 10% of incremental share in 2Q, the analysts say. Those three are also dominating in e-commerce, and have prominent grocery and household essentials businesses. Target, which tends to be more focused on discretionary items, reports roughly flat comparable sales in 3Q. (ben.glickman@wsj.com; @benglickman)

(END) Dow Jones Newswires

November 20, 2024 11:21 ET (16:21 GMT)

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