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Best Buy Forecasts Better-Than-Expected Sales Ahead of Holiday Season

U.S. retail giant Best Buy announced on Tuesday that it has forecasted a smaller-than-expected drop in sales ahead of the busy holiday season. While the big box store previously forecasted an 11% drop in full-year comparable sales, it now estimates a 10% sales decline. The...

Pernod Ricard Posts Stronger-Than-Expected Full Year Profit

Spirits group Pernod Ricard posted better-than-expected financial results for the 2021/22 fiscal year, with its operating profit rising by 19%. While the environment remains volatile due to rising inflation, COVID-induced factory shutdowns in China, and the Ukraine crisis, Pernod Ricard still expects what it...

U.S Retail Sales Remain Unchanged Following Gas Price Drop

The Commerce Department reported on Wednesday that U.S. retail sales remained unchanged in July, despite the recent decline in gasoline prices. Retail sales increased by a marginal 0.8% the previous month. This figure excludes automobiles, building materials, gasoline, and food services. Sales were largely in...

Commerce Department Reports Unexpected Drop in Retail Sales

U.S. customers have cut their spending in May more than predicted. According to data shared by US Commerce Department, the retail sales have dropped by 0.3 percent in May compared to an expected 0.2 rise. U.S. retail sales have spiked each month since January, including...