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Retail Sales in the U.S. See Weaker Increase Than Expected

The report on retail sales in the U.S. for May Commerce Department has shown a weaker increase compared to expectations. The sales rose just 0.1%, while Dow Jones expected to see a 0.2% increase, and economists polled by FactSet estimated a 0.3% increase. Retail sales...

Target Shares Jump as Earnings Exceed Expectation

Target shares rose by 8.5% in premarket trading on Tuesday after the retail giant released its earnings report for 2023. The company's net sales were $31.9 billion, thereby exceeding analysts' estimates of $31.38 billion. Gross profit came in at 25.6%, eclipsing the 22.7% in...

Deere Cuts Profit Outlook as Tractor Demand Slumps

Deere & Co. cut its full-year profit outlook for 2024 as tractor sales slumped amid freefalling crop prices. These lower retail prices result in farmers having less money at their disposal for further equipment purchases and upgrades. Currently, the world's largest farm machinery producer,...

Sony Profit Falls on Weaker Chip Sales

Sony reported its third-quarter earnings on Thursday, with its operating profit falling 29% to 263 billion yen ($1.74 billion). This missed estimates of a 306 billion yen profit from 10 analysts polled by LSEG. This slump appeared to mostly stem from a 38% decline in...

Retail Sales Beat Forecasts Amid Consumer Resilience

U.S. retail sales grew in September, beating forecasts as consumer spending remains resilient in the face of a slowdown. Retail sales increased by 0.7% compared to August, thereby outpacing estimates of a 0.1% rise compiled by Bloomberg. August sales were revised upwards to 0.8%...

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...