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August 18, 2022

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Target profit crumbles as inflation-weary consumers shun discretionary spending

Reuters
Aug 17 (Reuters) – 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......

Home Depot’s sales lifted by higher prices, demand from builders

Reuters
Aug 16 (Reuters) – Home Depot Inc (HD.N) on Tuesday surpassed estimates for quarterly sales after demand from builders and higher prices helped the biggest U.S. home-improvement chain cushion the hit from dwindling store visits. Customers who bought homes during last year’s housing boom are still driving demand for home-improvement......

KFC parent doubles down on deals as consumers cut spending

Reuters
Yum misses estimates as expenses rise Low-income consumers pulling back – CEO Pizza Hut sales decline Aug 3 (Reuters) – Yum Brands Inc (YUM.N) said on Wednesday it would offer new items and promotional deals as it seeks to reverse a slowdown in demand for its pizzas and fried chicken......

Saint-Gobain posts record operating income, confident can offset inflation

Reuters
July 27(Reuters) – French construction materials group Saint-Gobain (SGOB.PA) on Wednesday posted record half-year operating income and confirmed guidance for the year, despite the pandemic, supply chain disruptions and inflation, the firm said. Its operating income hit a new record in the half-year, reaching 2.80 billion euros, up 13% on......

From burgers to gadgets, stressed consumers buy cheap

Reuters
NEW YORK/LONDON, July 26 (Reuters) – Some global consumers are showing signs of cracking, as shoppers stressed by record inflation stick to buying basics like food, bleach and cheap burgers, while those with bigger bank accounts are snapping up $3,000 Louis Vuitton handbags. Investors are closely watching second quarter corporate......

Walmart ‘train wreck’ profit warning sends shares down 10%

Reuters
Shopping trolley is seen in front of Walmart logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register NEW YORK, July 25 (Reuters) – Top U.S. retailer Walmart Inc (WMT.N) on Monday slashed its profit forecast as surging prices for food and......

Philips shares hit 9-year low on weak quarter and guidance cut

Reuters
Adjusted EBITA 216 million euros vs forecast 324 million Company cuts estimate for FY sales growth to between 1% and 3% Shares down 6.9% at 20.24 euros AMSTERDAM, July 25 (Reuters) – Dutch medical equipment maker Philips (PHG.AS) posted a bigger-than-expected drop in second-quarter core earnings on Monday, saying supply......

Walgreens keeps forecast as waning COVID vaccine demand weighs

Reuters
June 30 (Reuters) – Walgreens Boots Alliance Inc (WBA.O)on Thursday maintained its full-year earnings forecast due to declining COVID vaccinations, even as the drugstore retailer beat quarterly estimates on the back of strength in its UK-based Boots business. Shares of the second-biggest U.S. drugstore retailer by store count fell 4%......

S&P 500 limps to slightly lower close as quarter-end looms

Reuters
U.S. economy contracted in Q1; consumer spending revised lower General Mills rises as sales beat on higher prices Bed Bath & Beyond replaces CEO, shares tumble Dow up 0.27%, S&P down 0.07%, Nasdaq off 0.03% NEW YORK, June 29 (Reuters) – The S&P 500 ended a seesaw session slightly down......

Tesco says Britons buying less and trading down to navigate inflation

Reuters
General view of a Tesco Extra store sign in Bletchley, in Milton Keynes, Britain, January 5, 2022. REUTERS/Andrew Boyers Register now for FREE unlimited access to Reuters.com Register Says market environment is “incredibly challenging” Customers are increasing shopping trips, buying less Customers also buying cheaper products Reiterates full-year outlook LONDON,......

Costco margins hit by rising freight and labor costs, shares slip

Reuters
A Costco Wholesale retail club is photographed in Austin, Texas, U.S. on December 12, 2016. Picture taken December 12, 2016. REUTERS/Mohammad Khursheed Register now for FREE unlimited access to Reuters.com Register May 26 (Reuters) – Costco Wholesale Corp (COST.O) reported a fall in gross margins on Thursday, hit by soaring......

Best Buy earnings expected to fan inflation gloom gripping America’s retailers

Reuters
A person enters a Best Buy store in Manhattan, New York City, U.S., November 22, 2021. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register May 23 (Reuters) – Expectations are running low for electronics retailer Best Buy Co Inc’s (BBY.N) quarterly earnings on Tuesday after results from......

UK’s Kingfisher boosted by ‘grow your own’ plant sales

Reuters
General view of a B&Q DIY store, as the spread of the coronavirus disease (COVID-19) continues, in Chiswick, London, Britain, April 23, 2020. REUTERS/John Sibley Register now for FREE unlimited access to Reuters.com Register LONDON, May 23 (Reuters) – British home improvement retailer Kingfisher (KGF.L) reported first quarter sales significantly......

T.J. Maxx parent sees upbeat profit as price hikes counter higher costs

Reuters
A T.J. Maxx store which is owned by TJX Cos Inc in Pasadena, California U.S., May 15, 2017. REUTERS/Mario Anzuoni Register now for FREE unlimited access to Reuters.com Register May 18 (Reuters) – Discount store operator TJX Cos Inc on Wednesday forecast annual profit above Wall Street estimates after posting......

Wall Street mixed following Fed’s interest hike

Reuters
Half-percentage-point hike marking the biggest since 2000 Dow up 0.38%, S&P 500 up 0.20%, Nasdaq down 0.30% May 4 (Reuters) – Wall Street stocks fluctuated around unchanged on Wednesday after the Federal Reserve annouced its widely expected interest-rate hike, the biggest rate increase since 2000. Stocks initially rose then weakened.......

Campari sales jump as bars stock up spirits before prices rise

Reuters
Campari bottles are seen in a bar in Milan, Italy, September 4, 2018. REUTERS/Stefano Rellandini Register now for FREE unlimited access to Reuters.com Register Campari like-for-like sales up 29% in Q1 Activity in Russia scaled down to a minimum CEO sees Aperol sales growing 20% for many years MILAN, May......

Forvia drives cautiously into 2022 as China, Ukraine cloud auto outlook

Reuters
Cautious 2022 guidance for combined group Faurecia suspends dividend Demand hit by Chinese lockdowns, Ukraine Shares down slightly after early boost April 26 (Reuters) – Forvia, the European car parts maker created by Faurecia’s (EPED.PA) takeover of German rival Hella (HLE.DE), is cautious about the outlook for 2022, based on......

Investors cheer Danone’s strong start to 2022, M&A talk

Reuters
Q1 sales 6.236 bln euros, up 7.1% l-f-l vs estimate 5.5% Keeps 2022 sales growth, profitability goals Shares up 8%, extending gains on M&A talk PARIS, April 20 (Reuters) – Shares in Danone (DANO.PA) rose over 8% on Wednesday, lifted by a media report of merger interest from French dairy......

L’Oreal flags firm demand for high end beauty products as first-quarter sales rise 13.5%

Reuters
A woman walks by the logo of French cosmetics group L’Oreal in the western Paris suburb of Levallois-Perret, France, February 7, 2020. REUTERS/Gonzalo Fuentes/File Photo Register now for FREE unlimited access to Reuters.com Register PARIS, April 19 (Reuters) – Cosmetics group L’Oreal (OREP.PA) beat expections for first-quarter sales growth on......

Tesco warns of lower profits as UK inflation squeeze tightens

Reuters
General view of a Tesco Extra store sign in Bletchley, in Milton Keynes, Britain, January 5, 2022. REUTERS/Andrew Boyers Register now for FREE unlimited access to Reuters.com Register Profit hits 2021-22 guidance, but now forecast to fall Uncertainty forces Tesco to give wider forecast range Says in ‘great shape’ to......

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