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A Walmart store in Washington, on Nov. 2. BRENDAN SMIALOWSKI/AFP/Getty Images Walmart Inc WMT-N on Tuesday lifted its annual sales and profit forecast as demand for groceries holds up despite higher prices, while discounts on clothing and electronics helped it cut back excess inventories ahead of the busy holiday season. The company also announced a new $20-billion share buyback plan, sending its shares as much as up 7 per cent in morning trading to a six-month high of $148.40. Its results boosted stocks of other major retailers, including Target Corp, Costco and Macy’s Inc. Target reports results on Wednesday. Amid persistent inflation, investors have been nervously eyeing how consumer spending pans out during the crucial holiday season, when retailers make more than a third of their annual profits. “In this period of macroeconomic uncertainty … we are well equipped to continue gaining market share in an environment where consumers need to stretch their dollars further,” Chief Finan...

Statistics Canada says manufacturing sales were unchanged in September at $70.4-billion. The agency says the result came as sales of durable goods rose 1.0 per cent to $34.1-billion, helped higher by an 11.1 per cent gain in aerospace product and parts. Meanwhile, sales of non-durable goods fell 0.9 per cent to $36.3-billion in September, as sales of petroleum and coal products fell 2.4 per cent and food industry sales dropped 1.8 per cent. Sales in constant dollars edged down 0.2 per cent in September. In a separate report, Statistics Canada says wholesale sales rose 0.1 per cent to $81.8-billion, as sales rose in five of seven subsectors. Wholesale sales of personal and household goods rose 4.3 per cent to $11.2-billion, the largest monthly increase since June 2020, while the food, beverage and tobacco subsector climbed 1.9 per cent to $14.9-billion. Overall wholesale sales fell 0.2 per cent in constant dollars in September. https://www.tausiinsider.com/canadian-manufacturing-...

Opinions expressed by Entrepreneur contributors are their own. As I entered my 20s at the beginning of 2021, I decided to move out of my parents' house. I wanted to start fresh socially and move somewhere far away from home. Fast-forward six months, and I've successfully moved from Atlanta, Georgia to Provo, Utah. When I arrived in Provo, I had no friends. Even though there are two significant universities down the street, I realized that I had to put myself out there and meet new people. To do this, I set a goal to meet two new people a day. Not only did this allow me to make new friends, but I naturally crossed paths with people I was compatible with. Some of these people, I asked out on dates. Keep in mind, while I was growing up, I never went on any dates — so I had no dating experience. But after meeting two new people a day, not only did I start going on dates, but as a byproduct, I ended up improving my sales skills by accident. Here are three imp...

Opinions expressed by Entrepreneur contributors are their own. It's your employees' job to motivate buyers, but employees similarly need the right tools to succeed. In today's competitive environment, a well-written value proposition fills that need. What is your value proposition? A value proposition isn't just useless information about your company, products or services. It's a statement about what outcomes a person or group can expect when working with your company. A company's value proposition is at the core of its business model. It's a promise the organization makes to its customers regarding the value of its products and/or services. A value proposition should be simple, but powerful and clear. A compelling value proposition strategically examines the factors that influence customer focus, and overall business ambition and sets expectations. It serves both your customers and employees by setting up their expectations. Guiding ...

Loblaw Companies Ltd. L-T saw profits spike by 29 per cent in the third quarter, which the company attributed primarily to growth in sales at its drugstores – and attempted to send the message that it is not profiting from food inflation. Canada’s largest grocer on Wednesday reported net earnings available to common shareholders of $556-million or $1.69 per share in the 16 weeks ended Oct. 8, compared to $431-million or $1.27 per share in the same period last year. In a release on Wednesday, the Brampton, Ont.-based company wrote that its gross profit margins in food retail did not increase compared to the same period last year, when inflation began accelerating. Loblaw profited from increased sales of drugstore categories such as beauty products and cough and cold medicines, which have high profit margins, according to the company. Canadian grocery store operators have faced increasing scrutiny as prices for basic necessities have risen at a pace not seen in this country in 40 years...

U.S. retail sales increased more than expected in October as households stepped up purchases of motor vehicles and a range of other goods, suggesting consumer spending picked up early in the fourth quarter, which could help to support the economy. The solid retail sales reported by the Commerce Department on Wednesday and signs of a slowdown in inflation raised cautious optimism the economy could avoid an anticipated recession next year or just experience a mild downturn. “We might be in for a soft landing after all,” said Paul Ashworth, chief North America economist at Capital Economics in Toronto. Retail sales rose 1.3 per cent last month after being unchanged in September. Economists polled by Reuters had forecast sales rising 1.0 per cent. Retail sales are mostly goods and are not adjusted for inflation. They increased 8.3 per cent year-on-year in October. One-time tax refunds in California, which saw some households receiving as much as $1,050 in stimulus checks, likely helped t...

Shoppers at the Toronto Eaton Centre, on July 18. Fred Lum/the Globe and Mail Retail sales fell 0.5 per cent to $61.1-billion in September led by a drop in sales at gas stations along with food and beverage stores, Statistics Canada said Tuesday. However, the agency said its initial estimate for October pointed to a gain of 1.5 per cent for the month, though it cautioned the figure would be revised. “Retail sales fell in September; though the drop was smaller in volume terms, real spending took a notable step back in the third quarter,” BMO economist Shelly Kaushik wrote in a report. “However, solid advance estimates for retail and manufacturing sales, as well as wholesale trade, point to a recovery in October.” For September, Statistics Canada said sales at gas stations fell 2.4 per cent as sales in volume terms at gas stations rose 4.2 per cent, but gas prices fell 7.4 per cent. Meanwhile, sales at motor vehicle and parts dealers were relatively unchanged as sales at used car deale...

The Canadian dollar CADUSD rose against its U.S. counterpart on Tuesday as investor risk appetite picked up and preliminary domestic data showed retail sales climbing in October, while investors awaited comments by a senior Bank of Canada policy-maker. Canadian retail sales fell by 0.5 per cent in September from August, matching estimates, weighed by lower sales at gasoline stations, data from Statistics Canada showed. However, a flash estimate showed sales rebounding by 1.5 per cent in October. Other flash estimates were also upbeat, with manufacturing sales rising 2 per cent and wholesale trade up 1.3 per cent. Global shares recovered some of the previous day’s losses, drawing comfort from less-hawkish comments on interest-rate hikes by Federal Reserve policy-makers, although concern over more COVID infections in China kept gains in check. The safe-haven U.S. dollar fell against a basket of major currencies, while the price of oil, one of Canada’s major exports, rose after top expo...

Opinions expressed by Entrepreneur contributors are their own. Your marketing funnel is the process that your potential customers go through as they move from awareness of your product or service to purchase. The funnel narrows at each stage, from the many people who are aware of your brand to the few who actually buy from you. Understanding your marketing funnel is essential to improving results and driving conversions. Let's say you're trying to increase sales. You need to understand how your marketing funnel works so you can make changes that will lead to more sales. Here are four steps you can take to analyze your marketing funnel and improve results: Define your marketing funnel stages Set conversion goals for each stage Identify bottlenecks in your funnel Test and experiment to improve results Let's take a closer look at each of these steps so you can use them in your own business: Related: How to Generate Interest at Every Stage of the Marketi...

Early data for Black Friday suggest a mixed bag for online sales as inflation hits shoppers ahead of the holiday season. Shopify Inc. SHOP-T said sales by merchants on its system set a new record for Black Friday as they rose 17 per cent compared with a year ago. The e-commerce company said merchant sales from the start of Black Friday in New Zealand through to the end of the period in California totalled US$3.36 billion, with sales of US$3.5 million per minute at the peak. However, Salesforce said online sales in Canada were down year over year for Black Friday, though they increased globally by three per cent. Traffic from customers on computers was down 10 per cent, while traffic from mobile devices was down one per cent Discounts were also steeper, up 10 per cent from last year, Salesforce said. Shopify said top product categories were apparel and accessories, followed by health and beauty, and home and garden. Shopify provides e-commerce tools for businesses in more than 175 cou...

The Calgary Real Estate Board says the city’s November home sales dipped by more than 20 per cent since the same time last year, but 2022 is still on track to set a record. The Alberta board says last month’s sales amounted to 1,648, down 22 per cent from a year ago, but 12 per cent above the 10-year average. Despite the pullback seen over the last six months, year-to-date sales remain nearly 10 per cent above last year’s record high. The year-to-date sales growth is largely attributable to a surge in condo and row house sales. November’s sales decline was coupled with a 20 per cent drop in new listings since the same time last year and an inventory level not seen since November 2005. Meanwhile, the benchmark price rose about nine per cent to $520,200 and the average price rang in at $490,134, a less than one per cent fall from a year ago. https://www.tausiinsider.com/calgary-home-sales-down-20-in-november-year-to-date-sales-on-track-for-record-real-estate-board/?feed_id=331414...

The early results are in for Cyber Week retail sales, and they show the pre-holiday online blitz was a washout with Canadian shoppers – another sign the consumer side of Canada’s economy may be hitting a wall. Online sales in Canada during Cyber Week, a marketing term that refers to the period surrounding U.S. Thanksgiving, dropped 8 per cent from last year and capped a month of disappointing online shopping, according to Salesforce, which specializes in sales management software for retailers. Globally, Cyber Week sales rose 2 per cent to US$281-billion, the firm said, while U.S. shoppers pushed online sales up 9 per cent during the period. A couple of factors could be at play in the weak Canadian results. Cyber Week, like its marketing cousin Black Friday, has been losing some of its lustre, with retailers offering similar deals at other times – often, confusingly, under the same banners. And, as the pandemic has waned, shoppers have abandoned their keyboards for the experience of ...

A report by DesRosiers Automotive Consultants says light vehicle sales in November rose 4.1 per cent compared with last year. The firm estimates 114,966 light vehicle were sold last month. The result was up from 110,448 in November 2021. However, DAC noted that sales totalled 143,315 in November 2019 before the pandemic struck. DAC managing partner Andrew King says sales for the year to date stand at 1.38 million units, making it likely that sales for 2022 will finish the year below 1.5 million. King says if that happens it will be first year the market has fallen below that threshold since 2009. https://www.tausiinsider.com/november-auto-sales-in-canada-up-from-year-ago-report-says/?feed_id=331194&_unique_id=645257c64c014

A family loads a TV into a pickup truck outside a Walmart on Black Friday in El Paso, Texas on Nov. 25. JUSTIN HAMEL /The New York Times News Service Gus Carlson is a U.S.-based columnist for Tausi Insider. There’s some head-scratching going on among retail experts this week as they try to make sense of the strong sales at U.S. stores on Black Friday and record-setting online sales on Cyber Monday. The recurring question: What inflation? Shoppers’ enthusiastic spending to kick off the holiday season has defied the gloomy mood set by a well-worn list of data that has weighed on the U.S. economy for some time. Inflation is at 40-year highs, with steep prices for gas, food and other staples, and rising interest rates are making everything from mortgages to car loans more expensive. Yet retail sales over the U.S. Thanksgiving long weekend topped US$9-billion, and Cyber Monday sales of more than US$11-billion set a new record. The National Retail Federation expects the ...

Opinions expressed by Entrepreneur contributors are their own. Do you feel like the holiday season is getting longer and longer each year? You are not wrong. This year's holiday deals have started earlier than ever, and while inflation and supply chain issues are to blame for the record-breaking dates this year (think early October), the early bird has always gotten the worm. For this year, we're going to assume you have a few things in place: a website, some products and an "x" number of customers that you wish to grow to "y." Having spent the last decade immersed in the world of marketing and ecommerce, I've identified 13 key areas to invest in right now that can generate the best ROI for your ecommerce businesses in preparation for a holiday frenzy. Related: 3 Predictions and Tips for Attracting Customers This Holiday Season 1. Optimize your website speed The faster your website loads, the happier your customer will be. And ju...

I met Rudy Mawer when he booked a consulting session with me on Intro , an app that allows you to get the answers for your questions from topic experts with private video calls. Mawer Capital Within minutes I was wondering why he needed my advice. He has already built multiple 8 figure brands and is actively partnering with celebrity entrepreneurs including Floyd Mayweather, The Wolf of Wall St and Tai Lopez. But here's one thing I've learned from chatting with other successful entrepreneurs, they don't stop learning. They know one new technique or idea could lead to extraordinary results. Rudy described that as he always goes to the "who" and hires them for their advice instead of asking "how" and spending months trying to learn what to do. And as we were chatting he started sharing some of the strategies he's used to build a $10 million company - and several ...

Dollarama Inc DOL-T raised its full-year same-store sales forecast on Wednesday, as the Canadian discount store chain benefited from inflation-weary consumers shopping at its stores in search of cheaper groceries and household supplies. While inflation in Canada has eased in recent months, consumers are still battling higher prices of groceries and gasoline, prompting more shoppers to make their purchases at discount retailers. Montreal-based Dollarama has seen robust demand for consumables such as snack bars, chocolates and beverages, and also rolled out additional price points up to $5 to expand the range of products. The company’s U.S. counterpart Dollar Tree Inc raised its annual net sales forecast in November, while Dollar General Corp said last week that its full-year same-store sales would be toward the upper end of its previous estimate. Dollarama said it now expects comparable store-sales growth between 9.5 per cent and 10.5 per cent for fiscal 2023, up from prior forecast o...

Coils of rolled steel at the ArcelorMittal Dofasco facility, in Hamilton, Ont., on Oct. 13. Nathan Denette/The Canadian Press Statistics Canada says manufacturing sales rose 2.8 per cent to $72.6-billion in October as higher prices helped boost petroleum and coal industry sales. The agency says sales were up in 12 of the 21 industries it tracks, led by a 12.7 per cent gain for petroleum and coal industry sales, which totalled $10.6-billion in October. Sales in the food manufacturing industry hit a record high in October as they climbed 2.9 per cent to $12.3-billion as grain and oilseed milling sales gained 18.4 per cent to $2.0-billion, with prices and volumes for canola oil both higher. Chemical product sales rose 4.9 per cent to $6.1-billion. Meanwhile, sales of motor vehicles fell 3.2 per cent to $3.4-billion as Statistics Canada said a lack of materials and microchip shortages continue to plague several auto manufacturers. Overall sales in constant dollars were unchanged in Octob...

Opinions expressed by Entrepreneur contributors are their own. Customer experience has become one of the top priorities for organizations, especially as an increasing amount of business moves online. The consumers of today shop with one foot in-store and one foot online, but they expect the same experience across both. It's a tall order but not an impossible one. However, creating a seamless, frictionless journey for your customers won't be possible if your organization doesn't have seamless, frictionless teams. Adopting an internal Revenue Operations model (RevOps) helps unite your customer-facing teams, so they can focus on providing a singular, cohesive experience to consumers, no matter where or how they buy. The tenants of RevOps are simple: Unite all these teams under the shared goal of revenue through a combination of tools and processes that enable them to work together more effectively. These tools then bleed into improving aspects of the b...

The Canadian Real Estate Association says seasonally adjusted home sales were down 3.3 per cent on a month-over-month basis in November. The association said Thursday the move lower more than erased the gain seen in October and resumed the overall trend lower for the year. CREA said about 60 per cent of all local markets saw lower sales in November, led by Greater Vancouver and the Fraser Valley, Edmonton, the Greater Toronto Area and Montreal. Compared with a year ago, actual home sales in November were down 38.9 per cent compared with November 2021. TD Bank economist Rishi Sondhi said demand continues to decline under the weight of rising interest rates. “Weaker sales activity should push prices even lower in the near-term. However, our forecast calls for average prices to only partially retrace their pre-pandemic gain when they eventually bottom,” Sondhi wrote in a report. “An unanticipated surge in resale supply would undermine this view, but so far the rate at which new listings...