Retail industry
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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Apple discourages retail employees from joining unions in internal video
An employee arranges Apple iPhones as customer shop at the Apple Store on 5th Avenue shortly after new products went on sale in Manhattan, in New York City, March 18, 2022. Mike Segar | Reuters Deirdre O’Brien, Apple’s head of retail and human relations, told employees in a video this week that joining a union […]
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Kohl’s stock surges on report bidders are still competing for company amid market volatility
The Kohl’s logo is displayed on the exterior of a Kohl’s store on January 24, 2022 in San Rafael, California. Justin Sullivan | Getty Images Kohl’s shares surged more than 15% Wednesday, after being briefly halted, on hopes the retailer could still be bought following recent volatility in the market and a disappointing earnings report. […]
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Dick’s Sporting Goods shares sink after retailer cuts outlook for the year, joining broader retail trend
A Dick’s Sporting Goods store stands in Staten Island on March 09, 2022 in New York City. Spencer Platt | Getty Images Dick’s Sporting Goods on Wednesday reported results for its fiscal first quarter that topped Wall Street’s expectations, as shoppers spent money on golf clubs, soccer gear and athletic apparel from brands like Nike […]
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Barclays downgrades Best Buy as demand for consumer electronics slows
The near-term outlook for Best Buy looks bleak as demand for consumer electronics slows, according to Barclays. Analyst Karen Short downgraded shares of the electronics retailer to equal weight from overweight after the company missed earnings estimates in its fiscal first quarter and lowered its guidance for the year . “Our main concern is that […]
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