FINANCE

Lumber Liquidators widened its net loss in the third quarter, though the retailer did move the needle on net sales, which rose 3.4%.   Lumber Liquidators reported a bigger-than-expected net loss of $18.4 million for the quarter, compared to a loss of $8.5 million in the year-ago period, amid higher-than-expected expenses, including legal fees, as the company continues to rebound from last year's investigation into formaldehyde levels in flooring it had previously sold.  

Amazon’s cloud services business is on fire.   Amazon Web Services holds a 45% market share of the worldwide public market for Infrastructure as a service (IaaS), which is greater than Microsoft, Google and IBM’s shares combined, according to a quarterly analysis by Synergy Research Group.  

The nation’s largest auto dealership chain is expanding its brand into new areas of the automotive retail sector.    AutoNation announced it will debut a new format, a standalone concept called AutoNation USA, that will be dedicated to used-car sales and also serve as service centers, offering scheduled maintenance and repair work along with express service. The company has identified 25 sites to launch the concept, with five expected to open in 2017.     

GNC had higher expectations for its third quarter earnings.   The nutritional supplement retailer reported revenue of $628.0 million, a decrease of 8.1% compared with $683.4 million for third quarter 2016, ended Sept. 30, 2016. Similarly, GNC’s net income of $32.4 million dropped compared with $45.8 million in third quarter 2015.  

Based on its third quarter earnings, Carter’s predicts that is on its way to its 28th consecutive year of sales growth.   The brand specializing in babies and young children’s apparel and accessories reported a net sales increase of 6.1%, totaling $901.4 million. The company credits this growth on its U.S. Carter’s and OshKosh retail businesses, Carter’s wholesale business, and international segment.  

Constraints due to inventory levels took a toll on Tuesday Morning’s first quarter earnings.    The off-price home decor retailer reported a net loss of $8.9 million for the first quarter ended Sept. 30, 2016. Net sales for the quarter were $211.9 million, which is an increase from $9.6 million from the prior year. Same-store store sales increased 5.1%, however the company’s operating loss for the first quarter was $9.2 million.   

Despite gains in the third quarter, Amazon’s stock fell 6% in extended trading.   The pure-play retailer’s net sales increased 29% to $32.7 billion for the third quarter ending Sept. 30, 2016, compared with $25.4 billion in third quarter 2015. The company credits the jump to $52 million in year-over-year changes in foreign exchange rates throughout the quarter.  

Wayfair is making a bold move to grab more consumer wallet-share, and compete with brick-and-mortar retailers.   Complementing its private label credit card, Wayfar is offering a financing option to consumers purchasing furniture and decor. Through a partnership with financial services company Affirm, Wayfair shoppers now have the flexibility to buy now and make monthly payments for their purchases — a move that extend financing options to a broader range of customers.