Retail industry
Jefferies upgrades Ulta to buy, says strong earnings are the ‘all clear’ for a recovery
A strong quarterly report is the start of a solid recovery for Ulta Beaty , according to investment firm Jefferies. On Thursday, Ulta blew away estimates for the first quarter, generating $6.30 in adjusted earnings per share on $2.35 billion of revenue. Analysts surveyed by Refinitiv were expecting $4.46 in earnings per share on $2.12 […]
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Morgan Stanley downgrades Gap after weak first-quarter report, says stock has further downside
A rough first quarter for Gap could be just the start of a longer down period for the company, according to Morgan Stanley. Analyst Kimberly Greenberger downgraded Gap to underweight from neutral, saying that Thursday’s disappointing quarterly report showed a company with internal issues and a difficult consumer environment. “The 1Q22 EPS miss materialized, & […]
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‘A lot of Costco love’ — How the warehouse retailer became a staple of Asian America
Durian at a Costco Wholesale location in Woodland Hills, California. April 24, 2022. Wendy Leung Wendy Leung rarely saw durian in grocery stores growing up in Los Angeles, but the 45-year-old nonprofit worker found the fruit at her local Costco Wholesale in San Fernando Valley this April. Durian is used in Southeast Asian cuisines and […]
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Gap shares fall 13% after retailer slashes profit guidance for the year
Gap Inc. on Thursday slashed its profit guidance for the full year as it reported a decline in fiscal first-quarter sales, which were dragged down by its Old Navy business. Shares fell more than 10% after hours, after closing the day up 4%. An imbalanced mix of clothing sizes, ongoing inventory delays and an uptick […]
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Dollar store chains boost their outlooks as consumers grapple with high inflation
Dollar General and Dollar Tree stores Getty Images Shares of Dollar General and Dollar Tree popped Thursday, as the discounters beat Wall Street’s quarterly earnings expectations, raised outlooks for the coming year and spoke of consumers flocking to lower prices during inflationary times. As of midday Thursday, shares of Dollar General were up about 14% […]
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Carl Icahn loses proxy fight with McDonald’s over animal welfare
Carl Icahn speaking at Delivering Alpha in New York on Sept. 13, 2016. David A. Grogan | CNBC Activist investor Carl Icahn lost his proxy fight with McDonald’s on Thursday, signaling that shareholders weren’t swayed by his animal-welfare concerns. Preliminary counts of votes during the company’s annual shareholder meeting showed that Icahn’s board nominees only […]
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Macy’s stock surges as company raises 2022 profit outlook despite uncertain retail landscape
A person walks past a Macys store in Hyattsville, Maryland, on February 22, 2022. Stefani Reynolds | AFP | Getty Images Macy’s on Thursday reported fiscal first-quarter profits and sales ahead of analysts’ expectations, as shoppers returned to malls to shop for new outfits, luggage and luxury goods in spite of decades-high inflation that has […]
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Buy Lululemon as the athleisure brand is well-positioned to ride a recession and shares are cheap, Morgan Stanley says
While the macro environment is looking murky for many apparel retailers, Lululemon is better-positioned than some of its peers to weather the storm, Morgan Stanley said Thursday. Analyst Kimberly Greenberger upgraded the stock to overweight from equal weight, saying in a note to clients that risks are already priced into the athleisure brand. She added […]
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Rapid grocery delivery boom comes to a grinding halt as Getir, Gorillas slash jobs
Fears of an impending recession are forcing rapid grocery delivery companies to slam the brakes on growth. This week, two of the largest instant grocery apps, Getir and Gorillas, announced decisions to lay off hundreds of employees. Another firm, Zapp said it is proposing redundancies in its U.K. team. Getir reportedly told staff Wednesday that […]
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McDonald’s shareholders to vote on proxy fight with Carl Icahn over animal welfare practices
Signage outside a McDonald’s Corp. fast food restaurant in Louisville, Kentucky, U.S., on Friday, Oct. 22, 2021. Luke Sharrett | Bloomberg | Getty Images McDonald’s shareholders meeting on Thursday morning will mark the climax of a proxy fight waged by activist investor Carl Icahn, who is pushing for two seats on the fast-food giant’s board […]
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