Phil Wahba on Muck Rack

Phil Wahba Verified

New York by way of Montreal
Reporter, — Fortune

I cover retail and consumer goods for @FortuneMagazine. Reuters alum. Obsessed with 26.2, Def Leppard, Canadiens.

National Retail Federation on holiday outlook, shopper mood & breaches — With the holiday season now in full swing, retailers are waging a fierce battle with one another to win customers as finicky and price conscious as ever. The National Retail Federation has forecast sales for the season will rise 4.1%, the fastest clip since the recession.

Banana Republic, Gap brands get new bosses — Gap Inc is replacing the executives overseeing its Gap and Banana Republic brands in what is the first big moves by incoming CEO Art Peck to re-energize sales at the two flagship clothing chains. Jeff Kirwan, the executive who led Gap's expansion in China, will become president next month of the Gap brand globally, a...

Best Buy's surprise U.S. sales increase — Best Buy pleasantly surprised Wall Street on Thursday with an unexpected rise in U.S. comparable sales, and gave the broad outlines of its longer term plans to keep that momentum going in what it warned is still an intensely competitive consumer electronics industry. The retailer's shares jumped 9% premarket after it reported U.S.

What's on Target CEO Brian Cornell's to-do list after a good quarter — There was plenty to like in Target's third-quarter results on Wednesday,which easily beat expectations thanks to a strong back-to-school season and momentum that held up throughout the period. Shares jumped more than 6%. For one thing, U.S. comparable sales rose 1.2%, a much better performance than competitors like J.C.

E-commerce to hit $61 billion this holiday season in spending surge — Online retail spending will rise 16% this holiday season, a much faster clip than last year, as U.S. consumers feel more confident about spending and make greater use of mobile devices to shop, comScore said in its closely watched forecast released on Tuesday. ComScore expects holiday e-commerce to hit $61 billion in November and December.

The 5 parts of Wal-Mart's holiday season strategy — Last week, Wal-Mart Stores reported its first U.S. comparable sales gain in nearly two years, eking out a 0.5% increase in the third quarter, helped by aggressive pricing and stronger e-commerce. But the real test of its U.S. comeback is just around the corner with its Black Friday promotions, which are a notch or three more aggressive than they were last year.

Sam's Club bets on new business services to shake the doldrums — Those small business owners account for as much as one-third of Sam's Club's membership, according to Kantar Retail estimates, but they have cut back on spending on their businesses and themselves. In contrast, at Costco, micro-businesses are about 10% of the membership.

Lower gas prices won’t save the holiday season — With gas prices now under $3 per gallon, Americans are feeling less pain at the pump. But that probably won't be enough to guarantee beleaguered retailers a happy holiday season. The national average for a gallon of regular gasoline is at its lowest level in four years, giving U.S.

Walmart returns to growth-but holiday forecast isn't that cheery — Wal-Mart Stores reported on Thursday that comparable sales at its U.S. stores rose 0.5% last quarter, its first increase in 7 quarters, but the discount retailer expects businesses to improve only marginally in the current, crucial holiday quarter. Walmart's U.S. business has been hurt in the last two years by cuts to the government programs...

J.C. Penney reports disappointing sales; where's that turnaround? — J.C. Penney's comeback has hit a serious speed bump: the department store chain on Wednesday reported comparable sales were unchanged last quarter, ending a streak of three quarters of growth and re-igniting concerns that much of the business it lost in the last two years is gone for good.
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Nov 23, 2014

@bethkowitt seats (which were tight) Butch on at 8, off at 835, the Ryan on from 905 to 11:05

Nov 23, 2014

@bethkowitt Butch Walker, who as an acolyte. He's good. Such a great show by Ryan. (But dreadful venue). Have fun.

Nov 23, 2014

Crap. The @MTLAlouettes lost to Hamilton and so won't get to play in the Canadian Football League's Grey Cup finale. Boo.

Nov 23, 2014

RT @passantino: Gov. Cuomo on Buffalo snow: “No one had an idea. The weather service was off.”… Really?

Nov 23, 2014

RT @FortuneMagazine: National Retail Federation CEO to banks: Breaches are your responsibility, too

Nov 22, 2014

So loved to hear @TheRyanAdams play La Cienega Smiled tonight. One of my favorites I'd never heard before. Stellar show.

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