As Macy’s, Kohl’s and J.C. Penney grapple with what success means for a mid-tier department store in the 21st century — fending off activist investors, taking on new owners or announcing new strategies — Southern department store chain Dillard’s quietly plugs along. The company grabbed 0.4% of market share in the second quarter compared to…
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Discretionary apparel retailers proffered less-than-sunny earnings vistas this week, with Macy’s, Nordstrom, T.J. Maxx parent TJX, Victoria’s Secret and Abercrombie & Fitch all lowering their outlooks. Gap completely withdrew its second-half forecast on falling sales, while Urban Outfitters missed estimates.Why it matters: After a resurgence in 2021 — when the apparel industry saw one of…
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This week’s dollar store chain earnings show that even higher earning households are taking advantage of dollar store price points. Both Dollar General and Dollar Tree reported increased in-store sales this week, citing customers trading down to lower-priced items this summer. Dollar General reported a 9% increase in sales year-over-year, with same-store sales jumping by…
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Zoom Video Communications Inc. is struggling to convince people to pay for its videoconferencing service in the third year of the COVID-19 pandemic, contributing to a trimmed forecast and falling stock price Monday. Zoom ZM, -0.97% executives reduced their earnings and revenue guidance for the fiscal year Monday afternoon, and Zoom Chief Financial Officer Kelly…
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Despite offering deep discounts, off-price retailers like TJX aren’t immune to the slowdown in consumer spending. During the second quarter of fiscal year 2023, TJX saw comp store sales drop by 5%. The company — which operates off-price retailers TJ Maxx, Marshalls and HomeGoods — had a drop in categories such as home decor and,…
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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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After earning a master’s degree a decade ago, David Hill wanted to amp up his personal style and signed up for the Trunk Club, which promised to mail him boxes of clothing tailored to his tastes as often as he liked. Hill would visit the company’s Chicago showroom to meet with a stylist and pick…
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Inflation is starting to cool, according to data released Wednesday. But Minneapolis Fed President Neel Kashkari cautioned that day that a recession could still occur in the “near future,” as Reuters reported. So, what companies are best prepared to weather a possible downturn?
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