Earnings

U.S. Retail Sales Declined in May as Inflation Stings Consumers

U.S. Retail Sales Declined in May as Inflation Stings Consumers

Americans’ retail spending declined in May, as consumers felt the pinch from inflation, higher gasoline prices and rising interest rates. Retail sales—a measure of spending at stores, online and in restaurants—fell a seasonally adjusted 0.3% in May from the previous month, the Commerce Department said Wednesday. That was the first decline in month-over-month retail spending …

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If you thought Walmart and Target had disappointing results, these retailers did so much worse

If you thought Walmart and Target had disappointing results, these retailers did so much worse

Retail stocks fell hard this week as bellwether companies disappointed investors with sagging profits. And now, a review of retailers sheds light on companies that put up worse numbers than those reported by Target Corp. TGT, -5.04% and Walmart Inc. WMT, -3.02%, both of which shook the industry and dimmed investor sentiment in the past …

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Will the stock market drop 20% or 48% from the peak? Here's the key factor, says this strategist.

Will the stock market drop 20% or 48% from the peak? Here’s the key factor, says this strategist.

“Is the economy under control or is it spiraling out of control? That’s the million-dollar question traders continue arguing over,” sums up CrackedMarket blogger Jani Ziedins. Clearly, the latter argument prevailed — again — after Wall Street’s worst day in two years, and futures hinting of more pain for Thursday. Among the gloomsters, Guggenheim’s Scott …

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Agent's Take: Tom Brady leads the way in NFL career earnings despite taking a team-first approach to contracts

Agent’s Take: Tom Brady leads the way in NFL career earnings despite taking a team-first approach to contracts

Tom Brady will be making the transition from the football field to the broadcast booth once he decides to permanently hang up his cleats. Fox Sports announced last week that Brady, who turns 45 in August, will become its lead analyst on NFL games and work as an “ambassador” for the network with a focus …

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Target, Walmart Earnings Selloff Puts Retailers’ Inflation Pains on Display

Target, Walmart Earnings Selloff Puts Retailers’ Inflation Pains on Display

Inflation is catching up with some of America’s biggest retailers, as their recent quarterly results were pinched by higher costs on everything from products to fuel. Investors dumped shares of Walmart Inc., WMT -6.79% Target Corp. TGT -24.93% and other big chains—notching some of the biggest declines since the market crash of 1987—amid fears that …

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Cisco stock plunges 17% as company forecasts surprising revenue decline

Cisco stock plunges 17% as company forecasts surprising revenue decline

Cisco shares plunged by as much as 17% in extended trading on Wednesday after the networking company said it generated lower quarterly revenue than analysts predicted and called for an unexpected sales decline in the current period. Here’s how the company did: Earnings: 87 cents per share, adjusted, vs. 86 cents per share as expected …

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Here's what Walmart, Target, Home Depot and Lowe's tell us about the state of the American consumer

Here’s what Walmart, Target, Home Depot and Lowe’s tell us about the state of the American consumer

Compilation of Target, Walmart, Lowe’s and Home Depot stores. Reuters How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers — Walmart, Target, Home Depot and Lowe’s — reported quarterly financial results this week, and they each offered a different perspective on where and how …

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Target Stock Sinks 25% on Earnings Miss, High Costs

Target Stock Sinks 25% on Earnings Miss, High Costs

Target Corp. TGT -24.24% shares tumbled after the retailer posted lower quarterly earnings and said it would absorb higher costs this year rather than raise its prices. Sales at the Minneapolis-based retailer increased in the most recent quarter as shoppers spent more on food and groceries and even luggage as they prepared to travel again, …

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Target shares sink more than 20% after company says high costs, inventory woes hit profits

Target shares sink more than 20% after company says high costs, inventory woes hit profits

Target on Wednesday reported quarterly earnings that fell far short of Wall Street’s expectations, as the retailer coped with pricey freight costs, higher markdowns and lower-than-expected sales of discretionary items from TVs to bicycles. Shares fell about 22% in premarket trading. Here’s what Target reported for the fiscal first quarter ended April 30, compared with …

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Natural gas prices have already doubled this year. A hot summer could push them even higher

Natural gas prices have already doubled this year. A hot summer could push them even higher

Workers operate a drilling rig for an EBR Energy LP natural gas well near Columbus, Texas. Scott Dalton | Bloomberg | Getty Images U.S. natural gas prices more than doubled since the start of the year, and this summer’s air-conditioning season could send them soaring by at least another 25%. In the futures market, gas …

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