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Retailers lower outlooks with discretionary spending under pressure

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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Target profit crumbles as inflation-weary consumers shun discretionary spending

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 raises full-year forecasts, unaffected by inflation, China curbs

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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Macy’s earnings top estimates, retailer says it won’t spin off e-commerce from stores

Macy’s on Tuesday reported fiscal fourth-quarter earnings and sales that outpaced analysts’ estimates and said that a strategic review has prompted the retailer to accelerate its turnaround plans. It is rejecting calls from activist Jana Partners for it to split its e-commerce operations from its stores, following a similar move by Saks Fifth Avenue. Macy’s…

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How A Sleepy Southern Chain Became One Of The Pandemic’s Top Performing Stocks

The secretive clan behind the Dillard’s department store chain has a reputation for avoiding reporters, refusing to hold earnings calls and dodging investor queries about their results. So low-profile and seemingly unambitious with respect to their peers, they are sometimes called “the Dullards.” But there is nothing dull about the family fortune, which is suddenly…

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