Luke Sharrett | Bloomberg | Getty Images Nike sneakers sit on display at a Foot Locker store inside the South Park Mall in Strongsville, Ohio, March 4, 2014. Shares of sports retailers soared on Friday after Foot Locker, Shoe Carnival, and Hibbett Sports reported better-than-expected quarterly profits. Foot Locker, up 22 percent, was the most
Shares of L Brands sunk about 6 percent before the opening bell on Thursday, after it continued to struggle with weakness in its Victoria’s Secret business. The once high-flying brand now competes against a host of new competition including American Eagle’s Aerie. The brand has also been hurt by a decline in mall traffic. Third-quarter
J.M. Smucker’s topped analysts’ forecasts for second-quarter sales and profit, as it sold more pet food products and benefited from price hikes for Jif peanut butter and other consumer items. Smucker’s shares, which have fallen 17 percent this year, rose 4 percent in premarket trading on Thursday. Net sales in its pet foods business, Smucker’s
Viacom, owner of MTV, Comedy Central, and Paramount, said Thursday it expects high single-digit declines in revenue from U.S. cable TV operators and online distributors in the first half of 2018, sending its shares down 8 percent. The company said pay-TV subscribers continued to decline. The New York-based media company beat analyst estimates on revenue
Best Buy reported disappointing third-quarter results on Thursday and forecast holiday-quarter profit below Wall Street estimates as it cut prices to match those offered by rivals, including Amazon.com. Shares of the United States’ single largest consumer electronics chain fell 4.4 percent to $54.80 before the bell in New York. With online sellers driving down prices
Wal-Mart is set to report third-quarter earnings before the bell on Thursday. Here’s what Wall Street is expecting, based on a survey of analysts by Thomson Reuters: Earnings per share: 97 cents, adjusted. Revenue: $120.997 billion. Same-store sales: an increase of 1.8 percent. All signs point to Wal-Mart being in a retail war with internet
Target on Wednesday reported a bigger-than-expected increase in quarterly same-store sales, a positive sign for the big-box retailer’s turnaround plan. Target also raised its earnings outlook for the full year, though its fourth-quarter forecast, which includes key holiday sales, is lower than analysts’ expectations. That sent Target shares tumbling more than 8 percent shortly after
TJX reported flat same-store sales in the third quarter, blaming the impact of hurricanes in the United States and unseasonably warmer weather that dampened sales of cold weather apparel at its Marmaxx stores. Shares of the company, which also missed quarterly revenue forecast, were down 6 percent in trading before the bell on Tuesday. Shoppers
Home Depot‘s quarterly same-store sales blew past analysts’ estimates again, as the home improvement retailer saw customer transactions increase, and shoppers on average have been spending more across its stores. After facing a slew of devastating hurricanes during its fiscal third quarter, Home Depot said revenue from those storms positively impacted same-store sales by roughly
U.S. meat processor Tyson Foods reported higher quarterly earnings and revenue on Monday, beating analysts’ estimates, on strong demand for chicken and beef and lower costs to buy animal feed. Shares of Tyson, the maker of Ball Park hot dogs and Jimmy Dean sausages, rose 2.5 percent to $76 in premarket trading. Profits at meat
China’s second biggest e-commerce company, JD.com, reported an unexpected profit in the third quarter, though it lost about 100 merchants to fierce competition in the run-up to this month’s Singles’ Day shopping extravaganza. JD posted net earnings of 1 billion yuan ($151 million), its highest ever quarterly profit, in the three months to Sept. 30,
Time‘s tight leash on costs helped it beat analysts’ expectations on profit and stick to its yearly forecast for operating income on Thursday despite further sharp falls in sales of magazines and hard copy advertising. Shares in the owner of Time, Sports Illustrated and People magazines have almost halved in value since March as it
J.C. Penney on Friday reported a bigger-than-expected increase in quarterly same-store sales, as the department store chain’s latest efforts to get rid of excess inventory and refresh its apparel business showed signs of progress. The news came just weeks after Penney slashed its full-year profit and sales outlook, citing a hit due to heavy discounting.
Nvidia reported earnings Thursday that beat Wall Street expectations. Here’s how the company did: EPS: $1.33 vs. 94 cents expected according to Thomson Reuters Revenue: $2.64 billion vs. $2.36 billion expected according to Thomson Reuters Shares initially fell as much as 2 percent in after-hours trading Thursday but later ticked up more than a percent.
Nordstrom reported quarterly earnings and revenue that beat analysts’ expectations on Thursday, but same-store sales at its discount concept Nordstrom Rack disappointed, dragged down by unpopular goods. Here’s how the company did compared with what Wall Street expected: EPS: 67 cents, vs. 63 cents expected according to Thomson Reuters Revenue: $3.63 billion, vs. $3.58 billion
AstraZeneca’s drug sales fell again in the third quarter, hit by generic competition to former blockbusters like cholesterol pill Crestor, although the pace of decline slowed as it looks to new cancer treatments to revive its fortunes. Product sales were down 3 percent compared with an 11 percent fall during the first half of the
Homebuilder D.R. Horton reported a better-than-expected quarterly profit on Thursday and raised its fiscal 2018 revenue and cash flow forecasts, further evidence that a strong U.S. job market is feeding through to demand for houses. Housing demand in the United States declined sharply for four years running after the sub-prime crash of 2007-2008 but has
Macy’s posted steep sales declines on Thursday, but tighter inventory controls helped boost profit margins, allowing the retailer to outpace analysts’ earnings expectations. Macy’s also reaffirmed its full-year outlook, citing heightened momentum heading into the all-important holiday shopping season. The department store chain’s shares were climbing more than 8 percent Thursday afternoon on the news.
Kohl’s on Thursday posted a lower-than-expected quarterly profit, hampered by higher costs and several devastating hurricanes. The middle of the latest quarter was “soft” due to abnormal weather conditions, Kohl’s said. Merchandising expenses also increased. Kohl’s shares were falling around 1 percent Thursday afternoon on the news. Net income dropped to $117 million, or 70
Krisztian Bocsi | Bloomberg | Getty Images Kasper Rorsted, chief executive officer of Adidas AG. “Overall an extremely strong quarter across the board for us, so we are exceptionally happy,” Kasper Rorsted, CEO at Adidas, told CNBC Thursday. Rorsted also said that ahead of the upcoming soccer World Cup in Russia, he was “quite optimistic”
Hertz Global on Thursday reported a better-than-expect net profit as higher revenues and revenue management offset canceled reservations in hurricane-impacted parts of the United States, but the car rental company warned it was entering a period of weak demand amid high investment. The company’s shares rose 12 percent in after-market trading following the results. Hertz’s
Adjusted EPS: 10 cents loss, excluding items, vs. loss of $1.37 expected by a Thomson Reuters consensus estimate. Revenue: $124.8 million vs. estimate of $110.5 million by Thomson Reuters’ consensus. The company went public in late September in a $252 million IPO. Its fortunes have risen alongside services like Netflix that have moved TV viewership
Square reported quarterly earnings and revenue that beat analysts’ expectations on Wednesday. Here’s how the company did compared with what Wall Street expected: Adjusted EPS: 7 cents vs. 5 cents expected according to Thomson Reuters. Adjusted Revenue: $257 million vs. $244.9 million expected according to Thomson Reuters. Gross Payment Volume: $17.4 billion vs. $17.03 billion
21st Century Fox reported quarterly revenue that slightly beat expectations, while earnings remained in line with analyst projections, amid heightened scrutiny by regulators and some investors over sexual harassment scandals at its flagship network Fox News. Here’s how the company did compared with what Wall Street expected, according to Thomson Reuters estimates: Earnings per share
Wendy’s reported lower-than-expected quarterly profit and sales as increased competition, lower grocery prices and hurricanes hit traffic at restaurants, leading the burger chain to cut its full-year adjusted earnings per share forecast. The company’s shares were down 3.5 percent to $14.22 in morning trade on Wednesday. Wendy’s also said higher commodity costs hurt profit margins
JPMorgan shared with clients its favorite department store stock picks ahead of a slew of earnings reports in the next week. While analyst Matthew Boss expects “mixed performance” across his coverage, a number of “wildcards” should keep investors on their toes through year-end. “With the heart of third-quarter earnings kicking off Thursday with the Department
Chesnot | Getty Images Gamers play the video game ‘Call of Duty WWII’ developed by Sledgehammer Games and published by Activision during the ‘Paris Games Week’ on October 31, 2017 in Paris, France. Activision Blizzard’s “Call of Duty: WWII” game sales are coming in significantly above last year’s iteration of the blockbuster franchise. The game
Facebook’s Instagram has more than 500 million daily users, while Snapchat is sitting at 128 million. Instagram has an easy-to-use interface that makes it a cinch to snap short videos and post them to friends and family. And your friends and family are probably already on Instagram since it uses the same credentials as Facebook.
Sears Holdings announced Wednesday a number of steps it’s taking to gain liquidity as its sales continue to erode at a double-digit pace. Sears struck an agreement with guardians of its underfunded pension fund — the Pension Benefit Guaranty Corp. — to allow for the sale of 140 Sears properties, though the company didn’t say
Snap is soaring ahead of its earnings Tuesday after the bell, and traders are expecting an even bigger move for the stock following its report. Since Snap’s IPO on March 2, shares have fallen more than 12 percent. As the company gears up for its third earnings report as a public company, the options market