Shares of videogame developer Electronic Arts (NASDAQ:EA) rose nearly 1.8% on Thursday as research firm M Science raised its second-quarter estimates, citing the performance of its recently released soccer game, FC 2024. M Science said that FC 24 performed well in September, despite being launched in the last week of the month. The research firm…
Target garnered national attention last week when it said it would close stores in four major cities, citing rising problems with theft and violent crime. But while such moves make it clear that the retail industry is struggling with a theft problem, it’s surprisingly hard to get concrete picture of just how big that problem…
Nike (NKE.N) shares climbed as much as 11% on Friday as the company further trimmed its inventory ahead of the all-important holiday shopping season and forecast improved second-quarter gross margin due to fewer discounts. The world’s largest sportswear maker has focused on reducing its inventory, bringing it down by 10% to $8.7 billion in the…
When ChatGPT launched last November, it revealed that artificial intelligence had gotten smarter and faster than most people had previously imagined. It became clear that AI may soon transform so much of our lives, including every facet of knowledge-based industries. Change is coming especially fast to the financial sector, where companies had already spent years…
On Holding (NYSE:ONON) rose 5% amid an M Science note on increasing spending volume last month.DTC spending volumes accelerated in the U.S. and European Union in August, according to a M Science note.On Holding’s (ONON) short interest is 9.3%.
The new restrictions signal one of the biggest crackdowns yet on the travel platform.Not much can slow down Airbnb (ABNB 2.28%) these days, it seems. Months of rumors of an “Airbnbust” failed to sap the vacation giant’s growth, nor have sustained weakness in consumer spending, concerns about inflation, or the possibility of a recession. Now,…
Accessories and new market entries are keeping Lululemon customers coming back. On Thursday, the company reported its 2023 second quarter earnings, in which revenue jumped by 18% year-over-year to $2.2 billion, while same-store sales increased 11%. Lululemon’s quarterly profit hit $341.6 million, compared to $289.5 million the same period last year.
Many retail stocks have been ravaged amid a tempestuous earnings season.
Home Depot customers are still shopping — they’re just shifting their priorities on improvement projects. “Our customers and our contractors tell us that there is some stance of deferral when it comes to large projects. Customers are opting for smaller versus larger,” Home Depot CFO Richard McPhail said during Tuesday’s earnings call. “We are also…
Restaurant Brands International (QSR.TO) topped market estimates for quarterly results on Tuesday, signaling its Burger King turnaround plans were bearing fruit, with the chain drawing more customers through improved marketing and new technology at its outlets. Having previously struggled to drive sales in the U.S., Burger King is now ramping up investments in restaurant remodels,…