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Lululemon and Abercrombie & Fitch Raise Quarterly Forecasts Amid Strong Holiday Season

The strong holiday season prompted retailers Lululemon Athletica and Abercrombie & Fitch to raise their quarterly forecasts for the current quarter, albeit with different responses from investors. Lululemon previously projected sales between $3.48 billion and $3.51 billion and profit per share between $5.56 and $5.64....

U.S. Retail Sales Rise in July

Retail sales in the United States stabilized in July, thereby indicating positive economic health. Sales rose by 1% for the month, thereby reversing a 0.2% drop in June and significantly outpacing the 0.3% rise that economists expected. The largest increase since January, retail sales were...

JD.com Beats Profit Forecast

Major Chinese online retailer JD.com posted a total revenue of 291.40 billion yuan ($40.71 billion) in the second quarter, a 1.2% rise. This narrowly fell short of estimates of 292.89 billion yuan. The company's second-quarter net profit, however, skyrocketed by 73.7% to 9.36 yuan...

Walmart Set to Report Revenue Growth

Walmart is expected to post revenue growth for the second quarter according to Wall Street estimates. Analysts are expecting the U.S. retailer to report a quarterly revenue of $168.46 billion, a 4.23% rise. Last year's revenue was $161.63 billion. Adjusted earnings per share is...

Dolce & Gabbana Seeking New Capital Investment

Dolce & Gabbana CEO Alfonso Dolce confirmed that the fashion house is open to seeking new investors as a means of raising capital. This comes as the company looks to open 12 new stores in the U.S., including at 695 Madison Avenue in New...

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...