Stores and distributors that get everyday essentials onto shelves and into your home — supermarkets, warehouse clubs, and the wholesalers who supply them.
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.
UOB Kay Hian Sets NTF Target at 23.30 Baht, 83.5% Upside, Expects Q3 Profit to Grow 110%
Analysts at UOB Kay Hian (Thailand) maintained their buy rating on NTF shares with a target price of 23.30 baht, implying 83.5% upside compared with the closing price on October 6, 2026, based on a PE69 valuation of 10.7 times, slightly above the agricultural sector average, citing strengths in growth rate, a value-added business model, and the fact that external risk factors have largely been priced out. The company disclosed that it currently has forward orders for 2027 worth about 5.5 billion baht, or 67% of the company. For the third-quarter 2026 earnings outlook, it estimates net profit at 78 million baht, up 110% from the same period last year but down from the previous quarter on seasonal factors, and estimates operating revenue at 860 million baht, up 93% from the same period last year, driven by higher durian output and expansion into new provinces in China. Meanwhile, durian export volume in the third quarter of 2026 stood at 5,200 tonnes, up 80.1% from the same period last year, supported by increased capital after its IPO and a bond issuance used as working capital to deliver goods against orders. The company remains confident in the Chinese durian market, where consumption is currently only 1.3 kilograms per person, and targets frozen durian at about 8-10% of total sales.
Brokerage Expects CPALL Third-Quarter Profit to Fall 10% to 6 Billion Baht
Analysts at Pi Securities expect CPALL to report third-quarter net profit of 6 billion baht, down 10% from the same period last year, reflecting provisions related to the closure of Lotus's Go Fresh stores. Normalized profit is expected at 7 billion baht, up 8% year-on-year but down 6% from the previous quarter, supported by a 2% increase in same-store sales at 7-Eleven that helped offset lower profit from the Makro wholesale and Lotus's retail businesses. The research team expects 7-Eleven's same-store sales momentum to remain strong in the fourth quarter, alongside plans to open 700 stores per year. The recent floods were a positive factor as consumers stockpiled goods, making September sales notably stronger than other months, and the hundreds of branches in flooded areas have all gradually reopened as normal. Distribution centers were unaffected and logistics continue to operate normally. The brokerage maintains a "Buy" rating with a fair value of 61 baht, citing attractive valuation and an expected dividend yield of 3% to 4%.
Costco Digital Sales Top $33 Billion as E-Commerce Grows Over 20%
Costco Wholesale Corporation's digitally enabled sales, including third-party delivery, exceeded $33 billion in fiscal 2026 and grew more than 20%. In the fourth quarter, digitally enabled comparable sales rose 19.5%, or 19.8% excluding foreign-exchange impacts, while e-commerce site and app traffic climbed 30%. Pharmacy, home furnishings, small electrics, hardware, housewares and domestics ranked among Costco's strongest digital sales categories, and the company is extending same-day availability through Uber Eats, DoorDash and Instacart, with management noting average delivery times under an hour and mostly incremental transactions. Personalized product placements and email communications generated triple-digit sales growth in the quarter, with 10% of Costco.com orders including a personalized item, and traffic from AI search grew at a triple-digit rate for the second straight quarter. For comparison, Walmart's global e-commerce sales rose 23% in second-quarter fiscal 2027 and accounted for 24% of total net sales, while Target's second-quarter fiscal 2026 comparable digital sales increased 8.7%.
Walmart Connect Advertising Jumps 43% as Digital Profit Growth Accelerates
Walmart's global advertising business grew 38% in the second quarter of fiscal 2027, with Walmart Connect up 43% and Walmart U.S. advertising, including VIZIO, also rising 38%. The gains came alongside 24% growth in Walmart U.S. e-commerce sales, reflecting strength in store-fulfilled delivery, advertising and marketplace. Walmart U.S. e-commerce achieved double-digit incremental margins in the first half of fiscal 2027, helped by strong advertising and membership revenues, greater delivery-network density, growth in fee-based fast deliveries and automation. The company also expanded its advertising capabilities through the acquisition of Vibe, which provides self-service tools and enables advertisers to measure results against shopping behavior. Walmart's forward 12-month price-to-earnings ratio stands at 33.82, above the industry's 30.74, and the Zacks Consensus Estimate implies current fiscal-year sales and earnings per share growth of 5.4% and 8.7%, respectively.
WMT · Demand · Positive Walmart Connect advertising grew 43% and U.S. e-commerce sales rose 24%, reflecting strong end-customer demand for its advertising and marketplace services.
WMT · Capital · Positive Walmart U.S. e-commerce achieved double-digit incremental margins, helped by advertising, membership, delivery density and automation.
Globlex says OKJ has passed its lowest point, eyes break-even event in Q4 2026
Suwat Sinsadok, Managing Director of Globlex Securities, analysed that the business and share price of Plook Phak Pro Rak Mae Public Company Limited, or OKJ, have begun to recover from their lowest point, reflecting positive signals from a major strategic overhaul after the company posted losses for three consecutive quarters. The key factor is the launch of a new business model, Grill & Ground, which marks a pivotal turning point in addressing the company's cost structure problems and core pain points. This strategy helps turn weaknesses into strengths by using more vegetables from its farms in the restaurants, transforming farm costs that were once a burden into part of the menu. It also involves renovating existing loss-making Ohkajhu branches into Grill & Ground outlets instead of investing in new openings, helping to reduce capital expenditure, or CAPEX, and generating revenue to cover existing rent obligations that were already a burden, while also using the same set of employees. On the investment outlook, Suwat expects OKJ's operating results to have already passed their lowest point after a loss of as much as 25 million baht in the second quarter of 2026, and sees a high chance that performance will turn around to reach break-even as early as the fourth quarter of 2026. The recommendation and target price are in the process of being revised, and it remains to be seen whether the company can achieve break-even in the fourth quarter as planned. Meanwhile, analysts view that OKJ should expand by about two new branches per quarter to maintain momentum and popularity, while coping with the risk of imitation by competitors and the problem of product sameness.
OKJ.BK · Capital · Positive Analyst sees OKJ's losses having bottomed and a high chance of break-even by Q4 2026 after the Grill & Ground overhaul.
OKJ.BK · Pricing · Positive New Grill & Ground model uses own-farm vegetables to turn farm costs into menu items and renovates loss-making branches instead of new capex, easing cost/margin pressure.
GBX.BK · Capital · Neutral Globlex's MD provides the analyst view and is revising the recommendation/target price on OKJ, but no direct financial event for Globlex itself is reported.
OKJ tells SET its share surge is abnormal, confirms no capital increase or new joint venture plans
Pluk Phak Praw Rak Mae, or OKJ, clarified to the Stock Exchange of Thailand after it was placed on the Trading Alert List due to a major change in trading conditions and share price from the previous day. Chalakorn Ekachaiyapattanakul, a director and chairman of the executive committee, stated that the company has no significant developments or material information under consideration, such as a capital increase, a joint venture, an acquisition or disposal of assets, or any legal disputes that have not yet been disclosed to the public. In addition, the company is not aware of any other cause or factor that may have affected the abnormal price and trading volume of its securities this time. It also confirmed that it has fully complied with disclosure criteria, and that if any new material developments arise in the future, it will proceed to notify the Stock Exchange of Thailand in accordance with the regulations.
OKJ explains share volatility, confirms no undisclosed material information
Pluk Phak Praw Rak Mae Public Company Limited, or OKJ, has informed the Stock Exchange of Thailand that there are no material developments or undisclosed information, after being queried about the sharp change in its share price from the previous day. The company stated that there are no matters under consideration that might need to be disclosed to the market in the near term, whether capital increases, joint ventures, acquisitions or disposals of assets, or significant disputes that could affect share trading. Meanwhile, OKJ confirmed that it is unaware of the cause of the change in the price and volume of trading in its shares this time, and that there is no other information requiring further clarification. As of the date of the report, the company has no other material information that has not been disclosed to the Stock Exchange of Thailand, and if any information meeting disclosure criteria arises, the company will proceed in accordance with the relevant regulations.
OKJ.BK · · Neutral OKJ confirms no undisclosed material information or developments behind its sharp share price move, so no clear driver is identified.
SET imposes trading controls on OKJ with Cash Balance restriction from 6-26 October 2026 after shares surge 18%
The Stock Exchange of Thailand has placed shares of Pluk Phak Praw Rak Mae Public Company Limited, or OKJ, under Level 1 trading supervision measures, prohibiting the calculation of trading credit limits and requiring Cash Balance from 6 to 26 October 2026, after the share price surged 18%. Under these measures, members must require customers to purchase the securities using a Cash Balance account only, with the full amount of cash deposited in advance before purchase. Securities may not be used as collateral in calculating trading credit limits in any type of account, and the purchase price may not be offset against the sale price of the same securities on the same day. The SET stated that the factors considered included turnover rate, trading value, and trading prices that are inconsistent with fundamentals, such as the P/E ratio. OKJ clarified that the company has no undisclosed developments or material information under consideration, and is unaware of the cause of the change in price and trading volume this time. OKJ's share price on 5 October 2026 rose sharply from an opening price of 3.48 baht, reaching a high of 4.12 baht during the day, or 18.39%.
OKJ.BK · Regulation · Neutral SET placed OKJ under Level 1 trading supervision with Cash Balance restriction after an 18% price surge, a regulatory trading control on the stock.
OKJ explains 15.88% share surge, insists no material information, SET imposes Level 1 cash balance requirement
Pluk Phak Praw Rak Mae Public Company Limited, or OKJ, issued a clarification after the Stock Exchange of Thailand announced that its securities would be subject to Level 1 trading supervision measures, prohibiting the calculation of trading credit limits and requiring a Cash Balance account from October 6, 2026 to October 26, 2026, following a significant change in trading conditions from the previous day. Chalakorn Ekachaiyapattanakul, a director and chairman of the executive committee, stated that the company has no undisclosed developments or material information under consideration that might soon be disclosed to the Stock Exchange of Thailand, such as capital increases, joint ventures, acquisitions or disposals of assets, or significant disputes. The company confirmed that it is unaware of the cause of the change in the price and volume of trading in its securities, and that as of the reporting date there was no other material information that had not been disclosed to the Stock Exchange of Thailand. On October 5, 2026, OKJ shares closed at 3.94 baht per share, up 15.88%, or an increase of 0.54 baht, with trading value of 167 million baht.
OKJ.BK · Regulation · Neutral SET imposed Level 1 trading supervision (cash balance requirement) on OKJ after a 15.88% share surge, while the company says it has no undisclosed material information.
Walmart China Sales Jump 19.3% as Sam's Club Drives Growth
Walmart's China business generated $24.6 billion in sales in its past fiscal year, a 19.3% jump, with Sam's Club serving as the retailer's primary growth engine in the world's second-largest economy. China represents 3% of Walmart's overall business, but sales there grew 20.7% last quarter, far outpacing the 5.9% reported by the company as a whole, even as Chinese consumer-goods retail sales grew just 1.1% in the first eight months of the year. Sam's Clubs contribute about 70% of Walmart's revenue in China, according to Fitch Ratings senior director Cathy Chao, and the warehouse business has expanded from 15 clubs in 2016 to 67 in May, with 10.7 million members in China as of June each paying at least 260 yuan per year for a basic membership. Christina Zhu, who became Walmart China president and CEO in May 2020 as the first woman and first native Chinese person to hold the job, has made the business digital-first, with stores doubling as fulfillment centers and a cloud warehouse network delivering groceries in as little as 30 minutes. Walmart entered China in 1996 with a Supercenter and a Sam's Club in Shenzhen and has since closed underperforming stores to focus on Sam's Club and online offerings, now generating more revenue than in 2019 when its China footprint was at its largest.
Sainsbury's Held Merger Talks With Morrisons Earlier This Year
Sainsbury's held preliminary talks about a possible merger with Morrisons between November and February, but the UK's second-largest supermarket subsequently walked away from a deal. A combination would have created a supermarket group with almost a quarter of Britain's grocery market, putting it within striking distance of Tesco. Sainsbury's has a 15.2pc share of the market while Morrisons accounts for 8.4pc, according to Worldpanel by Numerator, giving them a combined 23.6pc against Tesco's 27.8pc. The FT reported on Monday that the companies had held preliminary discussions about a combination, although there are no active talks between the two sides, and any deal would face close scrutiny from the Competition and Markets Authority. The revelation comes seven years after the competition watchdog blocked Sainsbury's £7.3bn attempt to buy Asda, and since then Aldi and Lidl have continued to expand rapidly, taking a combined 19pc of the grocery market. Morrisons was bought by private equity group Clayton, Dubilier & Rice in 2021, a deal that saddled the company with a large debt burden, leaving it with £7.5bn of net debt at the end of its latest financial year. Sainsbury's and Morrisons declined to comment.
SBRY.LSE · Capital · Neutral Sainsbury's held preliminary merger talks with Morrisons but walked away, with any deal facing CMA scrutiny.
Clayton Dubilier & Rice · Capital · Neutral Morrisons, owned by CD&R, was the subject of preliminary merger talks with Sainsbury's that ultimately ended.
OKJ Soars 15.88% on Big Revamp Cutting Sizes and Prices; SET Orders Cash Balance from 6-26 October 2026
Shares of OKJ, the operator of the restaurant chain "Plook Phak Phro Rak Mae," jumped 15.88% to close at 3.94 baht, with trading value exceeding 167.31 million baht, compared with some days when turnover was less than 1 million baht. The surge followed the company's announcement of its most significant business transformation in 13 years, revamping its menu structure, portion sizes, prices, and in-store experience, to be rolled out simultaneously across all branches nationwide starting 5 October 2026. Chief Executive Officer Chalakorn Ekachaiyapattanakul said the overhaul is a response to changing consumer behavior, with prices set on an all-inclusive basis that includes VAT and no service charge, along with the addition of smaller size options and new menu items. Meanwhile, the Stock Exchange of Thailand announced that OKJ has been placed under Level 1 trading supervision measures, prohibiting the calculation of trading credit limits and requiring cash balance, from 6 October 2026 to 26 October 2026, after sharp changes in price and trading volume. The company stated that there have been no material developments or undisclosed information and that it does not know the cause of the change in price and trading volume.
OKJ.BK · Pricing · Neutral OKJ revamps menu structure, portion sizes and prices (all-inclusive, no service charge, smaller size options) across all branches from 5 Oct 2026.
OKJ.BK · Regulation · Negative SET placed OKJ under Level 1 trading supervision with cash balance required from 6-26 Oct 2026 after sharp price/volume changes.
Target Plans $5 Billion Fiscal 2026 Capex as Store and Tech Push Accelerates
Target Corporation is raising capital investments to strengthen its store network, supply chain and technology capabilities, expecting capital expenditures of approximately $5 billion in fiscal 2026. Through the first half, the retailer deployed about $2.4 billion in capital expenditures, up nearly 30% from a year ago, with spending directed toward new stores, full-store remodels and technology upgrades. Target opened 17 new stores in the second quarter, bringing the first-half total to 24, and had more than 100 full-store remodels underway, moving toward roughly 130 for the year, as stores handle more than 95% of the company's sales. The company is modernizing its technology foundation and has partnered with OpenAI, Google Gemini and other leading platforms as it explores agentic commerce, saying digital traffic sourced from external AI platforms is growing more than 3.5 times the industry rate versus a year ago. Target is also investing in Proxima, a digital twin of its middle-mile inventory positioning system, and said it fulfilled nearly 30% more same-day and next-day units in the second quarter than a year earlier. Separately, Walmart raised its fiscal 2027 capital expenditure outlook to about 4% of net sales from roughly 3.5% earlier, while Dollar General expects fiscal 2026 capital expenditures of $1.4-$1.5 billion and plans about 4,730 real-estate projects during the year.
Costco Cuts Kirkland Signature Prices, Backed by $184 Million in Tariff Refunds
Costco Wholesale Corporation lowered prices across several everyday Kirkland Signature items in the fourth quarter of fiscal 2026, reinforcing its private label as a member-value lever. Management said Kirkland Signature typically offers savings of at least 15%-20% versus national-brand equivalents while maintaining equal or better quality. KS Walnuts were reduced to $9.99 from $13.79, Colombian Whole Bean Coffee to $19.99 from $21.99, Dry Facial Towels to $18.99 from $19.99 and Coarse Black Pepper to $5.99 from $6.99. The value push was supported by tariff refunds: Costco received $184 million in the quarter, including $174 million in refunds and $10 million in interest, and management said it intends to reinvest the majority of additional tariff-refund dollars to enhance member value. The Zacks Consensus Estimate for Costco's current fiscal-year sales and earnings per share implies year-over-year growth of 8.3% and 11.8%, respectively, and the estimate for current fiscal-year earnings has increased by 36 cents to $22.87 per share over the past 30 days.
Mission Produce Marketing Unit Sales Climb to $414.3 Million on Avocado Demand
Mission Produce's Marketing and Distribution segment posted third-quarter fiscal 2026 sales of $414.3 million, up from $344.1 million a year earlier, with adjusted EBITDA rising to $24.7 million from $20 million. The company sold roughly 253 million pounds of avocados in the quarter, up 38% year over year, lifted by the Calavo acquisition and growth in its legacy business, though lower average selling prices partly offset the gain. A more balanced sourcing mix across Mexico, California and Peru helped per-unit margins recover sequentially from the fiscal second quarter, and Mission Produce increased its estimated U.S. retail market share by about 60 basis points year to date. Management said added packing capacity in Mexico and California and complementary customer relationships from the Calavo combination could drive meaningful market-share gains between 2027 and 2030. The Zacks Consensus Estimate points to a 17.7% year-over-year decline in AVO's fiscal 2026 earnings and 29.2% growth in fiscal 2027, with the stock carrying a Zacks Rank #2 (Buy).
AVO · Demand · Positive Avocado volume sold rose 38% YoY to ~253 million pounds, lifting Marketing & Distribution sales to $414.3M on strong avocado demand.
SET orders OKJ stock into Level 1 cash balance, effective Oct 6
The Stock Exchange of Thailand, or SET, has announced that shares of Pluk Phak Praw Rak Mae Public Company Limited, or OKJ, have been placed under Level 1 trading supervision measures, prohibiting the calculation of trading credit limits and requiring the use of a cash balance account. The measures take effect from October 6 to 26, 2026.
SET imposes Level 1 trading supervision measures on OKJ shares from October 6 to 26
The Stock Exchange of Thailand, or SET, announced that shares of Plook Phak Pro Rak Mae Public Company Limited, or OKJ, have entered Level 1 trading alert measures, prohibiting the calculation of trading credit limits and requiring cash balance, effective from October 6 to October 26, 2026. OKJ shares closed today at 3.94 baht, up 0.54 baht, or 15.88%, with trading value of 167.31 million baht.
OKJ.BK · Regulation · Negative SET imposed Level 1 trading alert measures on OKJ shares, banning margin credit and requiring cash balance from October 6-26.
SET orders OKJ shares into Cash Balance from October 6 to 26 after abnormal price and volume surge
The Stock Exchange of Thailand has announced that shares of Pluk Phak Praw Rak Mae Public Company Limited, or OKJ, have been placed under trading supervision measures because their price level and trading volume changed significantly from the previous period, and while the company is clarifying information, the stock has been placed on the Trading Alert List. The SET subsequently designated OKJ shares as subject to Level 1 trading supervision measures, which prohibit the calculation of trading credit limits and require trading on a Cash Balance basis, effective from October 6, 2026 to October 26, 2026.
OKJ.BK · Regulation · Negative SET placed OKJ under Level 1 trading supervision (Cash Balance only, no credit limits) from Oct 6-26 after abnormal price and volume surge.
OKJ Launches Biggest Revamp in 13 Years, Overhauling Menus, Pricing, and Membership Across 5 Brands
Pluk Phak Praw Rak Mae Public Company Limited, known as OKJ, the owner of the healthy restaurant brand Ohkajhu, has announced a major business transformation, or Big Revamp, restructuring its menus, portion sizes, pricing, and in-store experience on the largest scale in 13 years, since opening its first branch in Chiang Mai province in 2013. Consumers will experience the new format simultaneously at every branch nationwide starting October 5. The overhaul covers four areas: adding new menu items and smaller size options along with more Side Dish and Add-on choices; upgrading service and the Customer Journey; moving to All-Inclusive pricing that includes VAT with no service charge; and maintaining the quality of ingredients from organic farms in Chiang Mai province under the Farm-to-Table concept. Chief Executive Officer Chalakorn Ekachaiyapattanakul said the changes reflect that customer voices truly matter to the company, amid a Thai restaurant market valued at more than 572 billion baht in 2025 and growing 4.8% from the previous year, according to data from the Department of Business Development, Ministry of Commerce. Meanwhile, OKJ Group has also launched the OKJ TOGETHER membership system linking five brands under the group: Ohkajhu, Oh Juice, Jo Wings, Ohkajhu Wrap & Roll, and Grill & Ground, which together have more than 85 branches nationwide as of September 2026, and are expected to exceed 90 branches across all brands by the end of this year. OKJ currently has more than 452,000 members in total and has revised its points accumulation terms to be six times more rewarding and faster, requiring spending of just 80 baht to immediately receive 1 point and 1 star, down from the previous requirement of 500 baht per 1 point.
OKJ.BK · Demand · Positive New menu items, smaller size options, more sides/add-ons, and a revamped OKJ TOGETHER membership with faster rewards aim to drive customer visits and spending.
OKJ.BK · Pricing · Positive OKJ moves to All-Inclusive pricing (VAT included, no service charge) and revamps portion sizes and menu pricing across all brands.
Tisco says September retail SSSG turns positive at 0.9%, picks BJC as standout
Tisco Securities released an analysis of retail sector stocks, noting that same-store sales growth, or SSSG, improved by 0.9% in September, recovering from a contraction of 1.5% in July and 0.4% in August, driven by stockpiling of goods related to the flood situation as well as a recovery in fundamentals. It expects SSSG at 7-Eleven under CPALL to come in at positive 3%, while Makro under CPAXT is seen at positive 1.5% and Big C under BJC at positive 2%. Overall, SSSG in the third quarter of 2026 is expected to decline 0.3% under pressure from the high base effect of previous government economic stimulus measures, but strong operating results in September should partially offset the weakness in July and August. Tisco's research team recommends BJC, expecting September SSSG to be positive at 2% on the benefit of flood-related stockpiling and store improvements, as well as the broad-based recovery that began to emerge in August. BJC's stores showed significantly better development across all product categories, and SSSG is expected to accelerate again once the impact of government stimulus spending fades and customer numbers return to normal in December 2026. CPALL, meanwhile, is expected to report September SSSG in positive low- to mid-single-digit territory, improving from the previous two months, with 7-Eleven benefiting from consumer stockpiling in late September amid heavy rain and flood risk. It also received support from extended alcohol sales hours and an increase in Chinese tourist numbers, while the impact of branch closures due to flooding remained limited.
BJC.BK · Demand · Positive Tisco recommends BJC, expecting September SSSG positive at 2% on flood-related stockpiling and store improvements.
CPALL.BK · Demand · Positive CPALL's 7-Eleven expected to post positive low- to mid-single-digit September SSSG on consumer stockpiling, extended alcohol hours, and more Chinese tourists.
CPAXT.BK · Demand · Positive Makro under CPAXT is seen at positive 1.5% September SSSG amid the retail sector recovery.
OKJ jumps 11% on biggest Ookajuu revamp in 13 years, targets over 90 branches by end of 2026
Shares of Plook Phak Pro Rak Mae Public Company Limited, or OKJ, climbed 11.18% to 3.78 baht at 10:57 a.m. on October 5, 2026, on trading value of 41.93 million baht, after Chief Executive Officer Chalakorn Ekachaiyapattanakul said the company is pressing ahead with a major revamp of its restaurant business under the Ookajuu brand, its biggest in 13 years since opening its first branch in Chiang Mai province in 2013. The revamp began across all branches nationwide on October 5, 2026, under the concept Same Roots New Moves, spanning new menu items and smaller portion sizes, side dishes and add-ons, upgraded service and in-store experience, and an all-inclusive pricing structure that includes value-added tax and carries no service charge. On targets, the company aims to lift repeat-visit rates and customer lifetime value, and is developing the OKJ TOGETHER membership system linking five brands in the group: Ookajuu, Oh Juus, Jo Wings, Ookajuu Wrap & Roll, and Grill & Ground, under the concept of one phone number equals one member. As of the end of September 2026, the OKJ group had more than 85 restaurants nationwide and expects to expand to more than 90 branches by the end of 2026. Membership in the system stands at more than 452,000, and the points accrual terms have been revised from 500 baht spent per one point to one point and one star for every 80 baht spent.
OKJ.BK · Demand · Positive OKJ is revamping its Ookajuu restaurant menu, service, and membership program to lift repeat visits and customer lifetime value, plus expanding to over 90 branches by end-2026.
OKJ surges 11.76% on its biggest revamp in 13 years, reshaping menu, pricing and membership
OKJ shares jumped 11.76% to 3.80 baht, up 0.40 baht, on trading value of 38.21 million baht, after the company announced its largest business transformation in 13 years, since opening its first branch in Chiang Mai province in 2013. Chalakorn Ekchaipattanakul, Chief Executive Officer of Plook Phak Pro Rak Mae Public Company Limited, said the overhaul covers menu structure, portion sizes, pricing and the in-store experience, in response to consumer behaviour that increasingly emphasises value and variety. Customers will experience the new format simultaneously at every branch nationwide from 5 October 2026 onwards. Pricing will be all-inclusive, covering VAT with no service charge, alongside more small-size options and additional side dishes. This comes as the Thai restaurant market was valued at more than 572 billion baht in 2025, growing 4.8% from the previous year, according to data from the Department of Business Development, Ministry of Commerce. Meanwhile, OKJ Group also launched its OKJ TOGETHER-ONE MEMBERSHIP. ALL OUR BRANDS system, linking all five brands in the group: Ohkajhu, Oh Juice, Jo Wings, Ohkajhu Wrap & Roll, and Grill & Ground, which together have more than 85 branches nationwide as of the end of September 2026 and are expected to exceed 90 branches by the end of this year. OKJ currently has more than 452,000 members in total, and has revised its points-accumulation terms to be six times more rewarding and faster, from the previous requirement of 500 baht spent per one point to spending just 80 baht to receive one point plus one star immediately.
OKJ.BK · Demand · Positive Launches OKJ TOGETHER-ONE MEMBERSHIP linking all five brands with over 452,000 members and points six times more rewarding to drive customer visits and loyalty.
OKJ.BK · Pricing · Positive OKJ's biggest revamp in 13 years reshapes menu, portion sizes and pricing to all-inclusive VAT with no service charge, plus more small-size options and sides.
OKJ Announces Biggest Revamp in 13 Years, Overhauling Menus, Prices, and Membership Across 5 Brands
OKJ Public Company Limited, known as Pluk Phak Because I Love Mom, the owner of the healthy restaurant brand Ohkajhu, has announced the most significant business transformation in its 13-year history since opening its first branch in Chiang Mai province in 2013. The overhaul covers menu structure, portion sizes, prices, and an entirely new in-store experience. Consumers will experience the new format simultaneously at all branches nationwide starting October 5. Chief Executive Officer Chalakorn Ekachaipattanakul said the changes respond to shifting customer voices regarding value, variety, and flexibility, with new menu items and small-size options added, along with all-inclusive pricing that includes VAT and no service charge. The revamp comes as Thailand's restaurant market is valued at more than 572 billion baht in 2025, growing 4.8% from the previous year, according to data from the Department of Business Development, Ministry of Commerce. Meanwhile, OKJ Group has also launched the OKJ TOGETHER membership system linking five brands under the group: Ohkajhu, Oh Juice, Jo Wings, Ohkajhu Wrap & Roll, and Grill & Ground, which together have more than 85 branches nationwide as of September 2026, with expectations of surpassing 90 branches across all brands by the end of this year. OKJ currently has more than 452,000 members in total and has revised its point-accumulation terms to be six times more rewarding and faster, requiring spending of just 80 baht to immediately receive 1 point and 1 star, compared with the previous requirement of 500 baht per point.
OKJ.BK · Demand · Positive New OKJ TOGETHER membership linking five brands with 452,000 members and six-times-faster point accumulation aims to drive customer visits and spending.
OKJ.BK · Pricing · Positive OKJ overhauls menu structure, portion sizes, and prices with all-inclusive VAT pricing and no service charge across all five brands.
Costco Fiscal 2026 Revenue Reaches $276.4 Billion, Up 8.1%
Costco Wholesale Corporation closed fiscal 2026 with total revenue of $276.4 billion, up 8.1% year over year, as the warehouse retailer reported net sales of $93.87 billion, up 11.2%, and net income of $2.998 billion in its September 24 earnings call. Membership remains the engine of the business, with 84.1 million paid members, including 42.3 million Executive tier members, a group that grew 9.4% and pushed that tier's share of the base to a new high, while renewal rates rose to 92.3% in the US and Canada and 89.8% worldwide. Membership fee income climbed 7.3% to $1.849 billion, and management plans 33 openings in fiscal 2027 as it works toward 30 net new warehouses a year, with digitally enabled sales topping $33 billion on growth above 20%. The quarter was not spotless, as reported gross margin slipped to 11.02% from 11.13% a year earlier and the LIFO charge jumped to $152 million from $43 million, tied to pricier memory in electronics and Middle East conflict costs for gas, motor oil, and resins, while tariff refunds added $0.15 per share and the $184 million received covers only about a third of the expected recovery. With the stock trading near historical valuation highs at a forward P/E of 40.32 and hedge fund ownership slipping to 104 funds from 107, the debate now centers on whether membership loyalty and the expansion plan can keep earnings growing into a premium that leaves little room for a stumble.
COST · Capital · Positive Fiscal 2026 revenue rose 8.1% to $276.4B with net sales up 11.2% and net income of $2.998B, though gross margin slipped to 11.02%.
COST · Demand · Positive Paid members grew to 84.1M with Executive tier up 9.4%, renewal rates at 92.3% US/Canada, and digitally enabled sales topping $33B on 20%+ growth.
Albertsons Names Cody Perdue Interim CFO, Expands Board to 14 Members
Albertsons Companies has appointed Cody Perdue as Interim Chief Financial Officer following Sharon McCollam's planned retirement, and added three experienced retail and technology leaders to its Board of Directors, expanding the board to 14 members. The leadership moves underscore Albertsons' emphasis on finance discipline, grocery expertise and technology modernization as it continues its transformation efforts. The company's raised US$2.0 billion share repurchase authorization and ongoing buybacks stand out given Albertsons' weak 1 year total return of about negative 29.5 percent and current net margin of just 0.08 percent. Albertsons' narrative projects $83.7 billion revenue and $621.1 million earnings by 2029, while some of the lowest analysts assume fairly flat revenue near US$82.4 billion and only about US$647.6 million of earnings by 2029. The CFO transition and expanded, tech-focused board do not change the near term focus on execution, cost control and digital profitability, but they concentrate attention on whether leadership can deliver planned efficiency and modernization gains without further pressuring thin margins.
ACI · Capital · Neutral Albertsons names interim CFO after McCollam's retirement and expands its board, alongside a $2.0B buyback authorization, keeping focus on execution and thin margins.
Major Convenience Store Chains Expand Apparel Offerings, Aiming to Attract Younger Customers with Fashion-Forward Visits
Major convenience store chains are stepping up their apparel offerings, including clothing and fashion accessories. Seven-Eleven Japan has teamed up with major apparel company Adastria to launch 28 Seven-exclusive items nationwide on September 25, including T-shirts, scrunchies, and seasonal scarves from Nico and and Lowrys Farm, both popular among young women. According to Seven-Eleven, about 40 percent of last fiscal year's customers were aged 50 or older, while those in their 20s or younger accounted for only about 17 percent. Junko Watanabe of the merchandise division stressed that acquiring younger customers is essential for continued long-term growth, and indicated a plan to double apparel sales by fiscal 2025. FamilyMart, which moved early to strengthen its clothing lineup, began nationwide sales in 2021 of its own brand Convenience Wear, developed with a famous designer. Its flagship store, which opened in Tokyo in July this year, carries about 300 items and includes fitting rooms, with a target of 30 billion yen in sales for fiscal 2026, 1.5 times the previous fiscal year. Lawson also expanded the range and floor space for Muji clothing from April, and on September 29 launched items including gloves in collaboration with the lifestyle brand Bruno. According to the Japan Franchise Association, customer traffic at existing convenience stores has fallen below the same month a year earlier for 14 consecutive months, and attention is focused on whether apparel can create destination-purchase demand and lift sales per store.
3382.JP · Demand · Positive Seven-Eleven Japan launches 28 exclusive apparel items with Adastria to attract younger customers and aims to double apparel sales by fiscal 2025.
7453.JP · Demand · Positive Lawson expands Muji clothing range and floor space and launches Bruno collaboration items, part of convenience-store apparel push.
Lawson, Inc. · Demand · Positive Lawson expands Muji clothing range and floor space and launches Bruno collaboration items, part of convenience-store apparel push.
Target Cuts Prices on Nearly 2,000 Items After Strong Rally
Target Corporation said on September 29 that it is cutting prices on nearly 2,000 home items, apparel and accessories as it seeks to attract cost-conscious shoppers ahead of the holiday season. The reductions build on cuts covering more than 10,000 products over the past year, with some women's, men's, infant and toddler apparel and family footwear priced 20% or more below last year's levels, and a refreshed bedding assortment averaging 15% lower than a year ago. The move follows three consecutive quarters of stronger-than-expected results; in August the company lifted its full-year outlook under CEO Michael Fiddelke, after reporting Q2 net sales of $26.5 billion, up 5.3% year-over-year, and raising its GAAP and adjusted EPS guidance to $9.90 to $10.90, including approximately $1.65 per share of tariff-refund benefits. Walmart is pursuing a similar strategy, having said it will lower prices on approximately 11,000 products after its slowest quarterly comparable sales growth in August. Target shares have gained more than 50% year-to-date as of October 1 and carry a forward P/E of 15.62, well below Walmart's 38.02, while the company pays a quarterly dividend of $1.16 per share for an annual yield of 2.95%.
Walmart, Target and Dollar General Book Tariff Refunds as Q2 Margin Boost
Walmart, Target and Dollar General each booked tariff refunds as a second-quarter earnings tailwind, using the proceeds to fund price investments and customer-focused initiatives. Walmart received substantially all of its eligible tariff refunds, totaling approximately $2.9 billion, or about 0.5% of annual U.S. net sales, helping lift its second-quarter consolidated gross profit rate 96 basis points to 25.4% and contributing an approximately 750-basis-point benefit to operating income growth. Target recognized $994 million in International Emergency Economic Powers Act tariff refunds as a reduction in the cost of sales, a benefit of 3.7 percentage points to its gross margin of 33.7% and $1.65 to adjusted earnings per share, and it expects fiscal 2026 operating margin to include about 90 basis points of benefit from the second-quarter refunds. Dollar General said gross profit as a percentage of sales rose 127 basis points year over year to 32.6%, with tariff refunds contributing approximately 81 basis points after related reinvestments, while operating profit rose 29.2% to $769.2 million and adjusted earnings per share increased 33% to $2.48, including an estimated 25 cents from refunds. Dollar General received the majority of expected tariff refunds during the quarter and does not expect a material impact from refunds after reinvestments in the second half of fiscal 2026.
Trulieve Cannabis Falls After DEA Judge Pauses Rescheduling Case
Trulieve Cannabis shares fell after DEA Chief Judge Derek Julius paused the federal cannabis rescheduling case, a regulatory setback that immediately weighed on sector sentiment as investors reassessed the timing of regulatory change. The stock has dropped about 12% on a 1 day share price basis and is down 13% over the past week, though it still shows a 25% year to date share price gain and a 1 year total shareholder return close to 30%. On the most followed valuation view, Trulieve Cannabis screens as 40% undervalued, with a fair value of about $18.18 against a last close of $10.90. That narrative assumes federal reclassification of medical marijuana to Schedule III, along with the ability to register with the DEA and deduct ordinary expenses, will reduce the impact of 280E and free up more cash to support earnings and operating margins over time, using a 7.24% discount rate. The framework also embeds expectations for revenue to trend lower over the next few years and for Trulieve Cannabis to remain loss making on paper, and two pressure points could upend the 40% undervalued story if federal rescheduling rules disappoint or new market investments miss return expectations.
TRLV · Regulation · Negative DEA judge paused the federal cannabis rescheduling case, delaying the Schedule III reclassification that underpins Trulieve's 280E relief thesis
BofA Warns Walmart May Raise Prices as Inflation Pressures Return
Bank of America analyst Chris Nardone said Walmart will likely need to raise prices selectively to protect margins, after hosting Walmart CEO John Furner and investor relations senior vice president Steph Wissink for meetings in Boston. Nardone wrote that oil and diesel prices continue to rise, driving upward pressure on commodity costs, and that vendors are starting to increase prices. He noted that rollbacks across grocery and general merchandise peaked last quarter at 11k and should normalize to a lower number in the second half, which, combined with the egg deflation lap, is driving higher inflation expectations relative to earlier this year. The latest inflation readings show price pressures remain elevated: the August Consumer Price Index rose 3.4% from a year earlier, core CPI increased 2.9%, the Fed's preferred PCE gauge rose 3.4% year over year in August, and the August Producer Price Index rose 5.4% over the prior year. Walmart management described the consumer backdrop as stable, citing good back-to-school results and noting that the pronounced trade-down behavior seen during the 2022 oil shock has yet to materialize, aided by favorable wage growth and labor market conditions.
WMT · Pricing · Negative BofA warns Walmart will likely need to raise prices selectively to protect margins as rising oil/diesel and vendor costs pressure commodity costs.
BAC · Capital · Neutral BofA analyst Nardone hosted Walmart management and issued a note on Walmart's pricing/margin outlook; BofA itself is only the analyst source, not a subject of impact.
Kroger Cuts Fiscal 2026 Identical-Sales Outlook Despite 20% Digital Growth
Kroger reported second-quarter fiscal 2026 adjusted earnings of $1.09 per share, up 4.8% year over year and ahead of the Zacks Consensus Estimate of $1.05, while cutting its fiscal 2026 identical-sales outlook to 0.2%-0.8% from 1%-2%. Total sales rose 2% to $34.62 billion but missed the consensus mark of $34.69 billion, and identical sales excluding fuel increased just 0.2%. Adjusted e-commerce sales climbed 20%, following 19% growth in the first quarter, with new digital customers also up 20%, and Kroger Precision Marketing profit rose 24%, its best growth rate since 2021. The company's 0.2% identical-sales growth absorbed about 265 basis points of combined pressure, including roughly 140 basis points from the Inflation Reduction Act, about 60 basis points from the shift to generic prescriptions, about 35 basis points from Cyclospora and about 30 basis points from egg deflation. Adjusted earnings guidance remained $5.10-$5.30 per share, and Kroger carries a Zacks Rank #3 (Hold).
Kroger Q2 Earnings Beat as Identical Sales Slow, Guidance Cut
Kroger reported second-quarter fiscal 2026 adjusted earnings of $1.09 per share, up 4.8% year over year and ahead of the Zacks Consensus Estimate of $1.05, even as identical sales excluding fuel rose just 0.2%, down from 3.4% growth a year earlier. Total sales increased 2% to $34.62 billion but fell short of the $34.69 billion consensus mark, and the company lowered its fiscal 2026 identical-sales guidance excluding fuel to 0.2%-0.8% from 1%-2% while maintaining adjusted earnings guidance of $5.10-$5.30 per share. The stock trades at 10.78X forward 12-month earnings, below its five-year median of 12.08X and well under the 30.68X for the Zacks sub-industry, 20.83X for the Zacks Retail-Wholesale sector and 19.66X for the S&P 500, consistent with a Value Score of A. Growth engines held up, with adjusted e-commerce sales up 20%, Kroger Precision Marketing profit up 24% for its best growth rate since 2021, and Our Brands outpacing national brands by 250 basis points as Private Selection sales rose more than 14%. Profitability faced pressure from higher shrink, transportation, healthcare and planned wage investments, with additional diesel and freight pressure expected through the rest of fiscal 2026, while Walmart posted 2.6% U.S. comparable-sales growth excluding fuel and 24% U.S. e-commerce growth and Costco reported 7.2% adjusted U.S. comparable-sales growth and 19.8% adjusted digitally enabled growth. Kroger carries a Zacks Rank #3 (Hold) with a VGM Score of A, Value Score of A, Growth Score of B and Momentum Score of D.
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