Best Buy Co Inc (BBY.N) on Thursday joined peers with a cautious annual earnings forecast as uncertainty over the U.S. economic outlook tempers expectations for a recovery in demand for TVs, laptops and other electronic products. U.S. retailers offered bigger discounts than usual during the holiday season to stoke demand as surging costs of rent…
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Macy’s Inc (M.N) beat estimates for holiday quarter results and forecast annual profit largely above expectations as the department store operator looks to rein in promotions to beef up its margins, sending its shares up 10% on Thursday. Like many retailers, Macy’s offered steep discounts during the holiday season to get rid of excess inventory…
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Target Corp (TGT.N) on Tuesday forecast muted profit growth in 2023 and warned of the need for more discounts to woo shoppers cutting their discretionary spending due to surging inflation. The retailer’s discounting strategy powered its sales and profit in the holiday quarter to exceed market expectations for the first time in a year, lifting…
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Norwegian Cruise Line Holdings Ltd (NCLH.N) forecast for its first annual profit in three years fell short of estimates on Tuesday, as the cruise operator feels the squeeze from soaring fuel and labor costs. Shares fell about 6% in early trading after the company’s bigger-than-expected first-quarter loss estimate. Norwegian Cruise and rival cruise operators such…
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Royal Caribbean Group (RCL.N) said on Tuesday it was set for record bookings during the January-March period after the company posted a smaller-than-expected quarterly loss on pent-up travel demand. Shares of the company rose about 5% in early trade as investors were encouraged by the latest sign of the industry sailing out of the pandemic-induced…
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Abercrombie & Fitch Co (ANF.N) said on Tuesday it was “cautiously optimistic” about the holiday season and forecast a smaller-than-expected drop in current-quarter sales after resilient demand led to a surprise quarterly profit. The Ohio-based apparel retailer’s shares that have lost nearly half of their value this year were up about 19% after the company…
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Norwegian Cruise Line Holdings Ltd (NCLH.N) said its wealthy travelers would help the U.S. liner ride out an economic downturn after better-than-expected quarterly results lifted its shares 7%. The Miami, Florida-based cruise operator said despite mounting concerns over a recession in the United States, it has not seen any pullback from its customer base of…
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Carnival Corp (CCL.N) on Friday forecast a loss in the fourth quarter after it reported results for the third quarter that fell well short of Wall Street estimates, as higher fuel prices and cheaper fares offset a rise in bookings. Shares of Carnival plunged 20% to $7.33 per share in midday trading, falling to nearly…
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Target Corp (TGT.N) reported a bigger-than-expected 90% fall in quarterly earnings on Wednesday and missed estimates for comparable sales as it struggled to lure inflation-hit shoppers with steep discounts on apparel, electronics and home goods. A host of U.S. retailers have issued profit warnings in recent weeks as consumers squeezed by higher prices for everything…
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Lululemon Athletica (LULU.O) on Thursday raised its full-year revenue and profit forecasts on strong demand for athleisure, and said the impact from COVID-19-related lockdowns in China was modest and more than offset by strength in other regions. Affluent U.S. customers have been helping the premium sportswear maker sustain the sales momentum it attained during the peak of…
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