Nike Earnings Show Retailer’s Resilience Despite Consumer Slowdown
While a recent slowdown in consumer spending has threatened to curtail U.S. retail sales, Nike's first quarter fiscal earnings indicated that the world's largest sporting retailer has been largely unphased. Sales in the US fell by a marginal 2%, with the company making no...
Best Buy Stock Edges Higher After Smaller-Than-Expected Sales Drop
Shares in U.S. electronics store giant Best Buy rose by 1% during premarket trading on Tuesday. This comes after the company reported a smaller-than-expected decline in quarterly comparable sales.
Best Buy's comparable sales declined by 6.2% over the course of the second quarter, narrowly...
Nordstrom Stock Jumps After Earnings Beat Estimates
Nordstrom stocks rose by 6% after trading closed on Thursday after the retailer's quarterly earnings beat Wall Street expectations. The company's strong financial performance came despite a rise in vanishing merchandise and theft, which is affecting U.S. retailers at large.
"Losses from theft are at...
Kohl’s Beats Wall Street Earnings Forecast Despite Profit Decline
Kohl's reported on Wednesday that profits and sales in the second quarter declined as the department store chain continues to struggle with the downward trend in consumer spending. Still, its results beat Wall Street expectations, with stocks in the company rising by over 2%...
Big Box Stores Hit By Surge in Theft
U.S. big box stores have experienced an upward surge in incidents of theft over the past financial quarter, suffering further inventory shrinkage as a result. This problem is compounded by other incidents such as organized crime, damage, vendor fraud, and lost items.
Home Depot, Target,...
Stocks Close Lower Following Mixed Week
U.S. stocks recovered slightly from heavier losses early on Friday to close the week on a loss following an influx of mixed economic signals throughout the last week. While the retail sector data remained strong following an onslaught of earnings reports from big box...