Skip to main content

FINANCE

  • Lower costs helps Kohl’s beat Street in Q3

    Kohl’s Corp. reported a better-than-expected quarterly profit amid expense controls that helped make up for lower sales.   The chain reaffirmed its full-year profit forecast.   Kohl’s net income rose 21.7% to $146 million, or 83 cents per share, in the third quarter ended Oct. 29. Excluding items, Kohl's earned 80 cents per share.   Sales decreased 2.3% to $4.33 billion from $4.3 billion in the year-ago period. Same-store sales fell 1.7% during the quarter.

  • Macy’s Q3 profit misses, but retailer sees improving trends

    Macy’s third quarter profit fell short of analysts’ expectations, but the retailer raised its annual sales outlook based on improving trends in its business.    The retailer also announced an agreement with Brookfield Asset Management to monetize the value of its massive real estate portfolio.   

  • Hhgregg reports Q2 loss; closes five stores

    Consumer electronics and appliance retailer Hhgregg came up short in its second quarter.    It also exited the Wisconsin market.     The company reported a loss of $18.4 million for the quarter ended Sept. 30, with a loss of 66 cents per share. Losses, adjusted for non-recurring costs and asset impairment costs, came to 51 cents per share. The results fell short of Wall Street expectations.  

  • CVS reports solid third quarter but warns of lower profit

    Strong results in its PBM business provided a boost during CVS Health’s fiscal third quarter, with the retailer reporting a 23.6% increase in net earnings to $1.5 billion.   Revenue increased 15.5% to $6 billion for the period ended Sept. 30.   

  • Safeway to acquire 87-year-old specialty grocery

    A longtime San Francisco grocery banner will soon disappear.    Safeway will acquire Andronico’s Community Markets, which operates five Andronico’s stores in the San Francisco Bay Area.     

  • Starbucks ends its fiscal year on a high note

    Starbucks Corp. is feeling its oats.   The coffee giant topped estimates for its fourth quarter and gave a positive view for its current fiscal year.   Starbucks’ consolidated net revenue grew 16% to $5.8 billion in its fourth quarter, which was better than expected.   

  • Alibaba drives quarterly revenue despite Chinese economy

    China’s sluggish economy didn’t stop Alibaba from increasing revenue by 55% for the September quarter.  

  • Gap finance chief to depart

    The CFO of Gap Inc. is leaving the company after serving in the role for nearly a decade.   The retailer announced that executive VP and CFO Sabrina Simmons is leaving. She will remain through the end of the company’s 2016 fiscal year, "ensuring a seamless transition over the coming months."  

  • Report: Finish Line looking to sell a 70-store division

    Finish Line Inc. is searching for a buyer for its JackRabbit chain of running-shoe stores, Bloomberg reported.  

  • More bad news for American Apparel

    The hits keep on coming for the embattled American Apparel Inc., which is reportedly on the brink of its second bankruptcy filing in less than two years.   
X
This ad will auto-close in 10 seconds