Showing posts with the label Retail.

News | Business | Retail: Walmart earnings soar as e-commerce sales jump, shoppers flock to stores

Melissa Repko 3minutes - Source: CNBC People wearing masks and gloves wait to enter a Walmart on April 17, 2020 in Uniondale, New York. Al Bello | Getty Images Walmart  shares rose nearly 4% after the retailer said its e-commerce investments helped prepare it for a crisis the company couldn't foresee: A pandemic that caused shoppers to flock online to buy groceries, cleaning items and other essentials as they tried to stay safe and at home. The big-box retailer's e-commerce sales in the U.S. shot up by 74% and its same-store sales grew by 10% in the first quarter. The company withdrew its financial outlook for the year Tuesday, citing the "unprecedented variability" in the economy because of the coronavirus pandemic. It also said it was phasing out , the e-commerce company it bought for $3.3 billion in 2016, saying the acquisition fueled its e-commerce strategy Here's what Walmart reported for the fir

Companies | Retail: Under Armour shares crater on accounting probe, slashed 2019 revenue outlook

Lauren Thomas 3minutos - Source: CNBC Kevin Plank, CEO of Under Armour. Adam Jeffery | CNBC Under Armour ’s quarterly earnings and sales topped analysts’ estimates, but the company on Monday morning trimmed its revenue outlook for the full year, citing “traffic challenges.” The retailer’s shares were plunging more than 15% in premarket trading, on the heels  of a Wall Street Journal report  from Sunday evening that said Under Armour was facing a federal criminal investigation over accounting practices allegedly used to make its finances look healthier. Here’s what Under Armour reported for its third quarter ended Sept. 30 compared to what analysts were expecting, based on Refinitiv estimates: *Earnings per share: 23 cents vs. 18 cents expected *Revenue: $1.43 billion vs. $1.41 billion expected Under Armour said it now expects revenue to be up roughly 2% in fiscal 2019, compared to a prior range of up 3% to 4%. Over the weekend, Under Armour conf

Target reports holiday same-store sales growth of 5.7%, maintains 2018 outlook

Lauren Thomas,Courtney Reagan 4-5 minutes A customer pushes her shopping cart after making a purchase during the Black Friday sales event on Thanksgiving Day at Target in Chicago, November 23, 2017. Kamil Krzaczynski | Reuters Target  saw a surge of shoppers head to its stores and website this past holiday season, a sign that its investments in store remodels and delivery services are paying off, and an early sign that consumers across the U.S. spent more on gifts this year. The retailer said in a Thursday press release  that sales at its stores and website operating for at least 12 months climbed 5.7 percent this past holiday season. That’s compared with growth of 3.4 percent a year ago and surpassing some analysts’ expectations. Target shares climbed more than 1 percent, to around $71, in pre-market trading on the news. Based on these results, Target said it’s maintaining its profit outlook for the fourth quarter and fiscal 2018. It also announced the retirem