Archive for the ‘RETAIL’ Category

American Eagle To Add ‘Beauty’ To Its Business

American Eagle Outfitters Inc. plans to launch a beauty business before the upcoming holiday season, citing a big opportunity lying ahead for the company in this sector. The apparel retailer’s decision was announced by CEO Jay Schottenstein on Wednesday during an earnings call with analysts.

Walmart is expanding its ‘unlimited’ grocery delivery service nationwide

Walmart said Thursday it will be expanding a new “unlimited” grocery delivery service, which costs users $98 annually, to 1,400 stores this fall. The biggest retailer in the world had earlier this year been testing what it calls Delivery Unlimited in four markets — Houston, Miami, Salt Lake City and Tampa.

L Brands hit with class action over financial disclosures

A shareholder filed a class action against L Brands over what the lawsuit alleges were false and misleading statements by the company and its executives about the retailer’s financial situation, according to a complaint filed last month in an Ohio federal district court. Attorneys last week issued a press release inviting other plaintiffs to join […]

Forever 21 reportedly preparing potential bankruptcy filing

Teen retailer Forever 21 Inc. is preparing for a potential filing as its turnaround options fade, Bloomberg reported Wednesday, citing people with knowledge of the plans. According to Bloomberg, Forever 21 hired a team of advisers to help restructure its debt and has been in talks for additional financing, but negotiations with possible lenders have […]

Target surges 18% to record high after smashing forecasts and raising profit outlook

Shares of Target soared as much as 18% to a record high on Wednesday after the retailer reported second-quarter earnings that outperformed Wall Street forecasts. Here are the key numbers from Target’s second-quarter earnings: Revenue: $18.42 billion versus $18.25 billion expected by analysts. Earnings per share: $1.82 compared with $1.62 estimated by analysts. Profit: $1.32 […]

Groupon hopes its rewards program engenders more loyalty

Groupon, the beleaguered daily deals website, has officially launched a rewards program to increase engagement and repeat purchase rates. For $4.99 per month, Groupon Select members receive an extra: Twenty-five percent off local deals, including activities, restaurants and spas; Fifteen percent off and free shipping off goods orders, such as consumer electronics, home furnishings and […]

Online Still Hasn’t Conquered Physical Grocery Stores

Americans have gotten used to ordering huge quantities of products online and that has had a considerable impact on traditional bricks-and-mortar retailers, spelling doom for countless businesses from the local bookshop to malls that are struggling to compete with the e-commerce juggernaut.

Walmart soars as e-commerce growth drives earnings beat and raises 2020 outlook

Walmart’s stock jumped 6.5% on Thursday after the retailer reported second-quarter results that topped Wall Street forecasts. Here are the key numbers from Walmart’s results: Revenue: $130.4 billion, compared to $130.07 billion expected by analysts Earnings per share: $1.27, versus $1.22 expected by analysts Net income: $3.64 billion, compared to $3.51 billion estimated by analysts

Macy’s lowers profit outlook after tough spring

Macy’s on Wednesday said that second quarter net sales fell to $5.55 billion from $5.57 billion in the year-ago quarter. Store comps on an owned plus licensed basis rose 0.3% after a 0.5% rise a year ago; on an owned basis only, comps, flat a year ago, rose 0.2%, according to a company press release.