WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
Kroger shares dropped 4.6% Thursday and on a weekly basis fell 6.8%.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
So price-weary shoppers are taking a toll on those stores.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
But discount chains like Dollar Tree and Dollar General said this week that their sales are still going strong.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
In a nutshell, more higher income shoppers are looking for bargains at the dollar store, in addition to lower earning ones.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
Both Dollars General and Tree saw the trend as their new customers skewed more affluent.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
Some numbers to give you an idea of the scale.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
Dollar Tree said roughly 3 million more households shopped at its stores this last quarter versus a year ago.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
And of those shoppers, approximately 60% came from higher-income households, a.k.a.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
those earning over $100,000 annually.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
So unlike Kroger and P&G, investors were cheering their updates.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
Dollar Tree shares rose 3.6% Wednesday, while Dollar General shares surged 14% on Thursday.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
On the week, Dollar Tree gained 10.5%, while Dollar General jumped 21%.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
Last but not least, Netflix struck a $72 billion deal to buy Warner Brothers once it splits from Discovery, beating out Paramount, Skydance, and Comcast, and shocking Hollywood.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
It's a deal that stands to reshape the entertainment and media industry.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
And it's Netflix's largest acquisition and one of the biggest in M&A so far this year.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
How were the entertainment giants reacting to the news?
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
Warner was the big winner of the four, gaining 6.3% Friday and 8.7% on the week.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
Its buyer, Netflix, on the other hand, fell 2.9% Friday, notching a weekly loss of 6.8%.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
Like Netflix, Comcast was pursuing the studios and HBO Max business, while Paramount had sought to buy the entire company.
WSJ What’s News
What's News in Markets: Cautious Consumers, Dollar Retailers, Media Megadeal
including cable networks such as CNN, TNT, and TBS.