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…
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…
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,…
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…
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…
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?
The all-American genre of fast food has historically been an inflation killer. Industrialization in the restaurant industry has lowered prices for consumers year after year ever since the first White Castle opened in 1921, signaling the beginning of the industry, and definitely since McDonald’s debuted in the early 1940s.
Bed Bath & Beyond moved to the top tier of Fitch’s “top market concern bonds” watch list for potential default following the retailer’s recent disastrous financial results, Eric Rosenthal, the rating agency’s senior director of leveraged finance, tells Axios. Why it matters: Bed Bath & Beyond, as one of the remaining category killers in the…
Bed Bath & Beyond is making its customers and employees sweat these days. The struggling home goods chain — which reported a steep decline in sales last quarter — is turning down the air-conditioning in its stores in an effort to cut costs, according to Bank of America analysts who have visited the stores.
The rapid revival of Chinese education companies’ business is boosting investor appetite for the stocks that bore the brunt of Beijing’s yearlong regulatory crackdown. A bellwether of the sector, New Oriental Education & Technology Group Inc., has almost doubled in the past 30 days, turning itself from one of the worst-performing US-listed Chinese stocks since…