CNBC's Jon Fortt and Gene Munster, Piper Jaffray senior analyst, share their take on Apple's future.» Read More
Del Monte Foods Co., maker of Meow Mix cat food, StarKist tuna and its own canned fruits, Thursday posted a drop in quarterly profit, hit by higher costs for some items and lower seafood sales volumes.
Fashion retailer Inditex said Wednesday its first-quarter net profit rose 33%, helped by higher sales from its global network of outlets and new store openings.
Sales by U.S. retailers rebounded by a stronger-than-expected 1.4 percent in May as consumers shrugged off higher gasoline prices and increased spending on cars, clothing and building materials, a Commerce Department report showed on Wednesday.
A strong brand may be the most valuable thing in retail these days. Maintaining the credibility of that name in a market saturated with brands is what separates the flash in the pan from the successful. From Liz Claiborne's 50% stake in Narciso Rodriquez to the slew of private equity firms snapping up designer names (Permira's stake in Valentino, HILCO's purchase of Halston), merchants are fighting for fresh star brands as they spend the cash on their books these days.
Volatility is back with a vengeance, and investors will be watching next week's economic calendar carefully, with inflation data topping the list.
Two retail analysts, Kimberly Greenberger from Citigroup and Christine Chen from Needham, discussed the outlook for retail stocks on “Power Lunch.”
Some consumer advocates fear that consumers may get less bang for their buck at the pump, as scorching heat physically expands the volume of gasoline -- while gasoline prices remain the same. Judy Dugan, research director at the Foundation For Taxpayer & Consumer Rights, told "Morning Call" that the heat expansion -- and ostensible dilution -- of gasoline affects consumers negatively.
Americans shopped hesitantly during May, giving retailers modest relief from a dismal showing in April but still raising questions about how strong consumer spending will be in the months ahead.
Shares in BAE Systems fell in response to reports from the British press that Europe's largest defense company paid 1 billion pounds ($2 billion) over a decade to a Saudi prince to seal one of Britain's biggest-ever arms export contracts.
Sales warmed along with the weather in May but the improvement will be a relative one. May saw a rebound from the low levels of same store sales that we saw back in April (worst since 2001.) Still it isn't hard for apparel companies to improve from a weak the baseline. However, year over year, retailers are expected to report the weakest sales gain in four years. Given that we are now entering the summer season, the months ahead are heavy on markdowns and light when it comes to shopping activity.
With May same-store sales out today, one analyst said that youth apparel retailers performed well last month, though he expects the next two months will be better tests for consumer sales.Strong sales at Pacific Sunwear and Zumiez represent "their strength in the West Coast lifestyle," Piper Jaffray retail analyst Jeff Klinefelter said on "Squawk Box." He added that small cap vendor Phillip Van Heusen performed well also.
Stocks are struggling ahead of the opening as a selloff in the Treasury market pushed the yield on the 10-year above the key 5% level for the first time since last July. May sales results from chain stores are rolling in and merger activity continues to make headlines.
Dateline---Charlestown, Indiana. He was larger than life (in more ways that one)--and even now, 30 years after his death, Elvis Presley is still making money--for his heirs and for a lot of other people who loved him. Butch and Kim Polston of Charlestown Indiana are two of them. Theirs is a story of their love for 'The King', and their love for each other. In a basement workroom of a retired Army munitions factory in this small southern Indiana town....
It started off as a rainy, muddy day here in Northwest Arkansas -- a fitting backdrop for the Wal-Mart annual meeting, given Wall Street's dampened expectations. By the end of day, it was a scorcher and Wal-Mart's stock price closed up 4% on the day. Here are the nuggets I found interesting and overlooked by many: Russia and India were specifically referenced as potential international markets.
Wal-Mart's board is trying to reverse course from its well-documented high-profile fashion faux pas and they're bringing in a big gun to do that. One of the topics up for vote at the Wal-Mart annual investor meeting in Arkansas this week will be whether to add Allen Questrom to its board of directors. Within the retail industry, Allen Questrom is viewed as a master of merchandising and retail.
May's rally is already running into June, and the momentum could keep going as markets next week focus on the promise of new mergers, Fed-speak, a modest batch of economic data and corporate conferences.
As the Macy’s name replaced Federated Department Stores on the New York Stock Exchange Friday, heralded by the new ticker symbol, “M,” Macy’s CEO Terry Lundgren shared insights with CNBC’s Erin Burnett on “Squawk on the Street.”
A Ford Motor official predicts that his company's overall U.S. sales will drop in May, but its retail sales to individual buyers will show a year-over-year monthly increase for the first time since October of 2006.
The shortened post-holiday week promises to be anything but quiet, as a wave of economic news could turn investor focus away from the now normal diet of merger activity and onto a feast of economic data that could show the U.S. economy may indeed be more resilient than expected.
Will it be Nancy, or Serge or Steven--or maybe someone else winning a $1,000,000? The Million Dollar Portfolio Challenge is winding down today. Trading stops at the closing bell, so what happens will depend on who picked the best stock or stocks--as very little money separates the top three contenders. But as we said, there could be someone back in the pack, that's picked the best stock to leapfrog over the big three.