By Aishwarya Venugopal and Melissa Fares (Reuters) – Macy’s Inc (NYSE:) forecast 2021 sales largely above Wall Street estimates on Tuesday as the retailer bets on its growing online business and on the COVID-19 vaccine rollouts allowing customers to return to its department stores after pandemic curbs. The upbeat outlookRead More →
© Reuters. NEW YORK (Reuters) – Google said on Sunday that antitrust claims in a Texas lawsuit were “misleading,” responding in a blog post as state attorneys general plan suits against the Alphabet (NASDAQ:) Inc unit. In December, Texas Attorney General Ken Paxton filed a complaint about Google’s advertisingRead More →
Reuters. Pictured is a Gap Inc. retail store in La Jolla. By Nivedita Balu (Reuters) – Apparel retailer Gap Inc (N:) posted an unexpected 13 percent rise in quarterly comparable sales on Thursday as consumers stranded at home by the COVID-19 outbreak bought more Old Navy and Athleta apparelRead More →
Target reported a record second quarter earlier Wednesday, with profits and comparable sales supported by market share growth and customer service options across its digital platform that drove shoppers to stores. target company TGT ,+12.65% . Net income totaled $1.69 billion, a record $3.35 per share, up from $938Read More →
UK Retail Sales Overview The UK Retail Sales, scheduled to be published at 06:00 GMT on Friday, is expected to ease from 12% prior advance to 8% MoM in June. Total retail sales are still seen depleting 6.4% over the year in the reported month, though up from -13.1%Read More →
© Reuters. FILE PHOTO: Small toy figures are seen in front of Google logo in this illustration picture By Paresh Dave OAKLAND, Calif. (Reuters) – More than 1,600 workers at Alphabet (NASDAQ:) Inc are petitioning its Google unit to stop selling email and other services to police departments, a sourceRead More →
© Reuters. FILE PHOTO: Unused rental cars fill the Dodger Stadium parking lot as the spread of the coronavirus disease (COVID-19) continues, in Los Angeles By Rachit Vats (Reuters) – The collapse in demand for new vehicles from U.S. rental car fleets hit automakers hard in May, even as consumerRead More →
© Reuters. FILE PHOTO: Polo by Ralph Lauren store logo is seen on a shopping center at the outlet village Belaya Dacha outside Moscow (Reuters) – Ralph Lauren Corp (NYSE:) said on Wednesday a surge in online shopping was helping it get back on track in China and putting itRead More →
© Reuters. FILE PHOTO: Paris Auto Show By Rajesh Kumar Singh (Reuters) – Harley-Davidson Inc (N:) on Friday named a board member hailed for turning around the Puma brand’s near-bankrupt business as its interim chief as the motorcycle maker gropes for an effective strategy to woo young customers and reviveRead More →
© Reuters. U.S. President Trump talks to reporters as he receives a Hurricane Dorian update at the White House in Washington By Karen Freifeld and Mike Stone (Reuters) – U.S. government officials are still considering ways to further curb sales to China’s Huawei Technologies [HWT.UL], despite President Donald Trump’s tweetsRead More →
© Reuters. Wells Fargo close to settlements with DOJ, SEC over sales scandal: NYT (Reuters) – Wells Fargo & Co (N:) is nearing a settlement with the U.S. Securities and Exchange Commission and the Justice Department (DOJ) over previously disclosed probes into its sales practices, the New York Times reportedRead More →
U.S. stocks were mostly down, but off session lows, late Tuesday after Apple Inc. said that the viral outbreak in China would hurt its second-quarter results, reigniting fears that the disease may disrupt manufacturing supply chains and have broad implications for the global economy and financial markets. How are theRead More →
© Reuters. A traffic light is seen in front of a logo of General Electric at the company’s plant in Birr By Karen Freifeld and Alexandra Alper (Reuters) – The U.S. government is considering whether to stop General Electric (NYSE:) Co from continuing to supply engines for a new ChineseRead More →
Canopy Growth Corp. reported earnings early Friday that gave investors a few reasons to cheer: In short, it wasn’t a total disaster. Canopy CGC, +13.37% WEED, +15.84% logged fiscal third-quarter net revenue of C$123.8 million ($93.5 million), well higher than the FactSet consensus of C$105 million reflecting strong year-over-year andRead More →
Nvidia Corp. shares rallied in the extended session Thursday after the chip maker’s data-center sales and outlook topped Wall Street estimates while returning to revenue growth. Nvidia NVDA, -0.65% shares rose more than 6% after hours, following a 0.7% decline in the regular session to close at $270.78. The companyRead More →
© Reuters. Nissan Motor Co CEO Makoto Uchida speaks during a news conference at its headquarters in Yokohama By Naomi Tajitsu TOKYO (Reuters) – Nissan Motor Co (T:) on Thursday cut its annual operating profit forecast by 43%, hit by a slump in vehicle sales and heaping more pressure onRead More →
By Joe Bavier and Alexander Winning JOHANNESBURG (Reuters) – South Africa aims to free up over a billion dollars in stalled weapons sales, including to Saudi Arabia and United Arab Emirates, by amending a document at the heart of an export row, a senior arms control official told Reuters. LocalRead More →
An earlier version of this report misstated Sonos’ year-ago Ebitda figure. The correct amount is $87 million. Sonos Sonos said it’s getting more effective with its promotions. Sonos Inc. had a stronger-than-expected holiday quarter fueled by new products like a portable speaker and a partnership with IKEA. The company toppedRead More →
© Reuters. U.S. President Donald Trump holds a campaign rally at Drake University in Des Moines WASHINGTON (Reuters) – President Donald Trump signed an executive order on Friday aimed at preventing counterfeit products from abroad from being sold to U.S. citizens who shop online using Amazon.com (NASDAQ:), Walmart (NYSE:).com orRead More →
As more shopping goes online, experts are asking whether the traditional same-store sales metric truly measures the financial health of retailers. “We believe the metrics need to change,” said Rod Sides, vice chairman of Deloitte. “We need to understand the sources of revenue and profitability today.” In a report, TheRead More →
© Reuters. FILE PHOTO: A man enters the employee entrance of the Pfizer World Headquarters building in New York (Reuters) – Pfizer Inc (N:) posted a quarterly profit on Tuesday that came in below Wall Street estimates, as sales of breast cancer drug Ibrance fell short of expectations. Under AlbertRead More →
Starbucks Corp. popular pumpkin spice latte isn’t just a hit with its own customers. It’s also a hit with Dunkin’ Brands Group Inc. customers. Half of the visitors to a Dunkin’ DNKN, -0.80% in the fourth-quarter of 2019 also went to a Starbucks SBUX, -1.83%, according to data provided byRead More →
Intel Corp. crushed revenue expectations for the fourth quarter by about $1 billion and sent its stock to a new post-dot-com-boom high, but the company didn’t get a ton of credit from analysts. Intel INTC, +8.13% remains a controversial name on Wall Street as the chip giant deals with productionRead More →
© Reuters. FILE PHOTO: Wells Fargo CEO Stumpf testifies before Senate Banking Committee hearing on firm’s sales practices on Capitol Hill in Washington By Karen Freifeld and Chris Prentice WASHINGTON (Reuters) – Wells Fargo & Co’s (N:) regulator on Thursday announced it had brought civil charges against eight former executives,Read More →
© Reuters. FILE PHOTO: Logo of GAP clothing retailer is seen at company’s store at Tbilisi Mall in Tbilisi By Uday Sampath Kumar (Reuters) – Gap Inc (N:) on Thursday scrapped its plan to spin-off Old Navy and said it would instead work to stem dropping sales, while fewer discountsRead More →
