Shoppers at a shopping center in Birmingham, United Kingdom, on February 11, 2024. Nurphoto | Nurphoto | Getty Images Retail’s biggest winners during first-quarter earnings aren’t thriving because consumers are suddenly spending more on discretionary goods – it’s because they’re executing well and cash-strapped shoppers are choosing them over competitors. If there’s one takeaway from … Read more
Costco Wholesale ‘s third-quarter earnings topped Wall Street expectations on Thursday, driven by higher sales and lower-than-expected operating expenses. Even with a recent C-Suite transition, Costco delivered a business-as-usual quarter, as members flocked to its warehouses in search of quality merchandise at value prices. Total revenue in its fiscal 2024 third quarter increased 9.1% year … Read more
Ulta Beauty on Thursday laid out plans to boost sales and gain market share after a first-quarter sales slowdown. Comparable sales, a metric that tracks Ulta stores open at least 14 months along with online sales, increased 1.6% year over year, a stark slowdown from the same period a year earlier when Ulta reported comparable … Read more
A Citibike docking station outside the Nordstrom flagship store in New York, US, on Wednesday, Feb. 21, 2024. Bing Guan | Bloomberg | Getty Images Nordstrom on Thursday fell short of Wall Street’s quarterly earnings expectations, as its off-price chain Rack outperformed the rest of its stores. Despite the earnings miss, the Seattle-based department store … Read more
A Gap store in New York, US, on Monday, May 27, 2024. Gap Inc. is scheduled to release earnings figures on May 30. Bloomberg | Bloomberg | Getty Images Gap posted positive comparable sales at all four of its brands on Thursday, leading the apparel giant to raise its full year guidance as CEO Richard … Read more
Shoppers walk in front of a Kohl’s store in Mount Kisco, New York. Scott Mlyn | CNBC Kohl’s shares plummeted more than 25% Thursday after the company posted a surprise loss per share, coming in well below Wall Street’s expectations for a slight profit. That share slide puts the stock on pace for its biggest … Read more
Foot Locker’s turnaround is starting to bear some fruit. The sneaker giant saw comparable sales decline 1.8% during its fiscal first quarter, far better than the 3.1% drop-off that analysts expected, according to StreetAccount. The company also reaffirmed its fiscal year guidance, which projects sales to be between a 1% decline and a 1% gain, … Read more
A Best Buy store stands outside of a Brooklyn mall on August 29, 2023 in New York City. Spencer Platt | Getty Images Best Buy missed Wall Street’s quarterly sales expectations on Thursday as softer demand for consumer electronics persisted. The retailer beat on earnings per share, though, and stuck by its full-year forecast. It … Read more
A picture taken on February 21, 2024 show the logo of Swiss food giant Nestle on the company’s headquarters in Vevey, western Switzerland. Fabrice Coffrini | Afp | Getty Images The meteoric rise of weight loss drugs means consumers’ nutritional needs are “shifting” which provides new opportunities for food companies, Nestle CEO Mark Schneider told … Read more
A sign is posted in front of a McDonald’s restaurant in San Leandro, California, Feb. 6, 2024. Justin Sullivan | Getty Images A top McDonald’s executive is weighing in on claims that the company has jacked up its prices. Joe Erlinger, president of McDonald’s USA, said in an open letter Wednesday that the average price … Read more
