Logistics provider ArcBest Corp . (NASDAQ: ARCB ) reported record first-quarter results Tuesday. Adjusted earnings per share were $1.01 compared to the consensus estimate of 58 cents per share and the year-ago result of 36 cents per share. Total revenue increased 18.2% year-over-year to $829 million and the company recorded a 95.3% consolidated operating ratio, a 290-basis point improvement. "We're pleased to report our best-ever operating income for the first quarter as well as increased revenue and profitability in what is historically the most challenging quarter of the year," stated Judy McReynolds, chairman, president and CEO. "These strong results reflect our ability to create solutions to support our customers as they continue to face supply chain challenges associated with their rebound from the COVID-19 pandemic." Compared to the fourth quarter of 2020, the OR improved 10 bps. Typically, ArcBest's margins … Full story available on Benzinga.com
This is an excerpt from Thursday's (4/22) Point of Sale retail supply chain newsletter sponsored by ArcBest. The best-in-class retailers are aggressively pursuing logistical control over their products (and therefore the customer experience) while trying to avoid patchwork responses to final-mile delivery. These same retailers are also in an intense battle to develop faster and faster fulfillment methods. This week, Target (NYSE: TGT ) announced that it will enlist the help of its gig economy delivery fleet, Shipt, to deliver more than just bagged grocery and household goods. What's Target doing? The new approach is being tested in Target's hometown of Minneapolis, where the company's first sortation center opened last fall. This new sortation center and the underlying strategy will be powered by three of Target's recent supply chain technology acquisitions. For many years, Target's e-commerce strategy has been built with its stores, the one true advantage it feels it has over Amazon (NASDAQ: AMZN), at the center.
Cowen & Co. Stick to Their Buy Rating for ArcBest Corporation
This is an excerpt from Thursday's (3/12) Point of Sale retail supply chain newsletter sponsored by ArcBest. Retailers are stuck between playing the ocean waiting game and ponying up for air cargo. The number of container ships in San Pedro Bay has hovered around 30 since the start of the year and levels remain stubbornly high. As of Wednesday, there were 31 at anchor. The CMA CGM Marco Polo — with a capacity of 16,022 twenty-foot equivalent units (TEUs) — has been stuck at anchor the longest, since Feb. 27. The median time a container ship spent anchored outside the port last week was just over 7.5 days before it could head to berth. The Ports of Los Angeles and Long Beach have received the lion's share of media attention given their scale and importance to the U.S. consumer, but it is a common story playing out around the country (and the world). Up the coast of California, ship-positioning data from MarineTraffic showed 13 ships at anchor off Oakland as of Wednesday. Even further to the north, MarineTraffic data showed 11 ships at anchor off Vancouver in British Columbia, as Asian exports to the U.S. are flowing heavily through Canada as well.
This is an excerpt from Tuesday's (3/9) Point of Sale retail supply chain newsletter sponsored by ArcBest. Instacart had a crazy year. Capped off by last week's funding announcement of another $265 million at a valuation of $39 billion (more than 4x where it was to begin 2020), Instacart has seen every piece of its business explode over the past 12 months. By some accounts, the 8-year-old company now has roughly 50% of the online grocery market. With an IPO almost guaranteed this year, I wanted to look back at how Instacart has gone from niche to necessity and question whether it can maintain this dominant position in a highly competitive, highly sought-after market post-COVID. Instacart was not Apoorva Mehta's first startup attempt. In fact, he tried his hand at more than 20 low-budget technology startups, but all either failed or eventually lost his interest. There is a story involving a lone Sriracha bottle in his empty fridge, leading to him and two of his startup friends launching Instacart to solve for quick grocery deliveries for people who, like him, lived far from supermarkets and didn't own cars.
FORT SMITH, Ark., March 9, 2021 /PRNewswire/ -- ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, is pleased to announce it was recently awarded a Bronze medal for its 2021 sustainability rating from EcoVadis. EcoVadis monitors sustainability in global supply chains by rating…
This is an excerpt from Thursday's (3/4) Point of Sale retail supply chain newsletter sponsored by ArcBest. Ordering apparel inventory is hard. In normal times, retailers order inventory upwards of six months in advance, hoping what they ordered isn't out of fashion by the time it hits the shelves. Although consumer preferences changed rapidly, at least overall demand was steady and predictable. COVID has and continues to rampage through the apparel industry, suppressing demand for pretty much everything besides athleisure. Over the summer, retailers had difficult planning decisions to make. Remember back to May, June and July… We had no idea what to expect. Vaccines were barely dreamed of but we had just come through what we believed was "it" (the first wave). Optimism was brewing, the stock market was rebounding quickly, consumer confidence was growing and consumers were flush with the first round of stimulus. There were many variables apparel companies could have pointed to as evidence for normal, or even slightly higher holiday ordering.
This is an excerpt from Thursday's (2/25) Point of Sale retail supply chain newsletter sponsored by ArcBest. Retail sales are expected to grow this year between 6.5% and 8.2%, amounting to more than $4.33 trillion, according to the National Retail Federation's annual sales forecast released Wednesday. Preliminary results indicate retail sales grew 6.7% in 2020, despite the challenges from the global health crisis. That total nearly doubles the NRF original forecast of 3.5% prior to the pandemic and was driven by sky-high online demand that totaled 22% of all spending by year's end. This year, the NRF forecasts online sales to maintain a pressing pace between 18% and 23% growth over last year to hit $1 trillion for the first time. ( Chart: National Retail Federation) "The trajectory of the economy is predicated on the effectiveness of the vaccine and its distribution," said NRF Chief Economist Jack Kleinhenz in the press release. "Our principal assumption is that the vaccination will be effective and permits accelerated growth during the midyear.
This is an excerpt from Monday's (2/22) Point of Sale retail supply chain newsletter sponsored by ArcBest. Walmart (NYSE: WMT ) reported Q4 earnings last week that fell short of Wall Street's expectations, despite posting same-store sales growth of 8.6%. That's a huge handle for a company Walmart's size and is by far the highest growth among comparable stores in the past 10 years, more than double the next closest growth rate of 3.7% in 2019. But Walmart's stock sold off hard after earnings were posted because Walmart's costs came in well above expectations (it tallied $1.1 billion in COVID-related expenses in Q4 alone) and the company guided for sales to moderate this year. Here are the highlights: ( Data: Company Filings) Walmart and other general retailers benefited greatly from pandemic spending trends. I don't need to spend much time explaining that Walmart began the year with Americans hoarding household essentials — y'all remember the toilet paper tussles. Nor do I need to explain why Walmart maintained extremely strong same-store sales growth throughout the year — y'all weren't eating out either.
This is an excerpt from Monday's (2/8) Point of Sale retail supply chain newsletter sponsored by ArcBest. The Container Store's (NYSE: TCS ) most recent earnings call details the reality of shifting to a greater mix of e-commerce sales at a time when transportation capacity is extremely tight. To manage limited capacity, logistics providers have implemented surcharges and placed limits on its largest customers. These additional costs are putting significant strain on retailer bottom lines at a time when many are dealing with major top line declines. Fortunately for TCS, the company is not dealing with major sales declines. In fact, the company rode COVID-induced in-home spending to the tune of 21% revenue growth yoy this quarter. The cost catalyst for TCS was much of that in-home spending was done in the home . Online sales surged 98% yoy in the third quarter of fiscal 2020. "We certainly saw headwinds related to the higher mix of online sales, incurring a lot more in shipping costs than we originally expected," Chief Financial Officer Jeff Miller …
This is an excerpt from Monday's (2/15) Point of Sale retail supply chain newsletter sponsored by ArcBest. Amazon's (NASDAQ: AMZN ) grocery growth has been remarkable and part of that is thanks to leveraging the Whole Foods brands and store infrastructure. However, that growth has been to the detriment of stores, many of which are now effectively mini-fulfillment centers crammed full of pickers walking the aisles and shops and restaurants — once a calling card for stores — turned into packing areas. Whole Foods lost market share in 2020. In-store grocery sales at most other retailers — from specialists like Kroger and Sprouts to generalists like Walmart and Target — were up (a lot) in 2020. Overall, grocery spending has been up between 15% and 25% since the pandemic began in March. Whole Foods is an expectation and its stores have not performed well throughout the pandemic. Admittedly, some of this is a deliberate part of Amazon's efforts to shift sales online, but there's more to the story. ( Chart: Bank of America) In 2020, Amazon saw sales from brick-and-mortar stores — mostly Whole Foods — decline 8%, but Amazon's 46% sales growth confirms huge online gains, presumably at Whole Foods, as well.
FORT SMITH, Ark., Feb. 17, 2021 /PRNewswire/ -- ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, is pleased to announce its employee training program has been recognized in Training magazine's 2021 Top 100. ArcBest is No. 16 on the 2021 list. This marks the 12th consecutive…
FORT SMITH, Ark., Feb. 15, 2021 /PRNewswire/ -- ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, is pleased to announce that it has been recognized as one of America's Best Large Employers for 2021. The award is presented by Forbes and Statista Inc., the world-leading…
On January 28, 2021, ArcBest (NASDAQ:ARCB) announced shareholders can expect to receive a dividend payable on February 25, 2021. The stock will then go …
FORT SMITH, Ark., Feb. 2, 2021 /PRNewswire/ -- ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, today reported fourth quarter 2020 revenue of $816.4 million compared to fourth quarter 2019 revenue of $717.4 million. ArcBest's fourth quarter 2020 operating income was $30.3…
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