In today’s top retail news, The Home Depot reported surging comparable sales, while Ally Lending has brought its financing services to Sezzle. Plus, Walmart posted better-than-expected top and bottom line growth on Tuesday (May 18).
The Home Depot said comparable sales for the first quarter of fiscal 2021 soared by 31 percent and comparable sales in the U.S. surged by 29.9 percent from the same timeframe in the prior fiscal year.Chairman and CEO Craig Menear said in an announcement that “fiscal 2021 is off to a strong start as we continue to build on the momentum from our strategic investments and effectively manage the unprecedented demand for home improvement projects.”
Ally Lending, Ally Bank’s personal lending arm, has brought its financing offerings to Sezzle, the retail payments platform. Customers can harness Ally Lending to purchase merchandise in areas such as home furnishings, jewelry and sporting goods. Ally’s financing offers terms between three and 60 months for purchases of as much as $40,000.
Walmart provided better-than-anticipated top and bottom line growth on Tuesday (May 18), as the world’s largest brick-and-mortar retailer said more customers purchased items through the web and were more and more inclined to go visit its 10,500 stores. “This was a strong quarter,” Walmart CEO Doug McMillon said, noting that “every segment performed well.”
Department stores are so 2020. While Macy’s defined the category for scores of years, the retailer worked hard during its earnings call on Tuesday (May 18) to debut a new phrase into its positioning. Get accustomed to “a digitally-led omnichannel retailer.” That was the oft-repeated phrase as the firm revealed its surprisingly positive Q1 results.