A shopper walks past the American clothing and accessories retailer American Eagle store in Hong Kong. Budrul Chukrut | Lightrocket | Getty Images American Eagle missed Wall Street’s sales targets for a second quarter in a row on Thursday, but profits grew by nearly 60% thanks in part to lower product costs. Shares fell more … Read more
People walk into a Best Buy store in a Brooklyn mall on August 29, 2023 in New York City. Spencer Platt | Getty Images Best Buy raised its fiscal-year profit guidance Thursday after exceeding earnings and revenue expectations for the most recent quarter. The retailer now expects to see full-year adjusted earnings per share in … Read more
Foot Locker announced Wednesday the sneaker retailer will move its headquarters from New York City to Florida to escape the Empire State’s high costs. “To better support our strategic progress, to increase team member collaboration, as well as ongoing expense discipline, we made the decision to relocate our headquarters to St. Petersburg, Fla.,” CEO Mary … Read more
An Abercrombie & Fitch store in New York, US, on Monday, Nov. 20, 2023. Abercrombie & Fitch Co. is scheduled to release earnings figures on November 21. Stephanie Keith | Bloomberg | Getty Images Abercrombie & Fitch‘s revenue grew 21% during its fiscal second quarter as the apparel company builds on its torrid growth. The … Read more
Foot Locker on Wednesday said comparable sales grew for the first time in six quarters as its efforts to refresh its stores and improve the customer experience continue to bear fruit. The beleaguered sneaker company’s same-store sales grew 2.6% during its fiscal second quarter, far better than the 0.7% uptick that analysts had expected, according … Read more
Customers at a Lego store in Shanghai, China, on Feb. 3, 2024. Costfoto | Nurphoto | Getty Images An inflation-fueled sales slump hit the toy industry in the first half of 2024, but one company is gaining market share brick by brick. On Wednesday, Lego said revenue during the first six months of the year … Read more
ATLANTA (AP) — Two workers were killed and another seriously injured Tuesday in a tire explosion at a Delta Air Lines maintenance facility near the Atlanta airport. Delta said the explosion occurred while wheel components were being disassembled for maintenance at a wheel and brake shop. The parts were not attached to a plane at … Read more
NEW YORK (AP) — Home improvement chain Lowe’s is scaling back its diversity, equity and inclusion policies, joining the ranks of several other companies that altered their programs since the U.S. Supreme Court outlawed affirmative action in college admissions or after facing a conservative backlash online. In an internal memo shared by Lowe’s with The … Read more
Check out the companies making headlines in midday trading: Paramount Global — The media conglomerate’s stock dropped more than 5% after Edgar Bronfman Jr. abandoned his pursuit of a takeover, clearing the way for Skydance to follow through on its roughly $8 billion acquisition deal reached in July. The Skydance deal, expected to close in … Read more
Eli Lilly on Tuesday released a new form of its weight loss drug Zepbound for roughly half its usual monthly list price to reach millions of patients without insurance coverage for the popular injection, such as those with Medicare. The move also aims to expand the supply of Zepbound in the U.S. as demand skyrockets, … Read more