Allegra Perry, managing director at Cantor Fitzgerald, says currency movements have had a negative effect on luxury brands' earnings.» Read More
US Treasuries fell Thursday after lower-than-expected weekly jobless claims bolstered views of a healthy labor market, lowering expectations of a near-term interest rate cut.
Stocks are squarely in positive ground this morning helped by a surprise comment from Wal-Mart that its earnings will be better than expected this quarter. Chain stores report monthly sales today and expectations have been low. Macy's for instance is down 2.7%, Limited was down 4%, Chico's is down 8.3% and Nordstrom cut its third quarter forecast.
Warm weather left apparel retailers with a lot of unsold suits and sweaters in September. Limited, Chico's, Abercrombie, Gap and Limited missed. Men's Wearhouse cut its forecast for third quarter profits, citing "continued softening in traffic trends."
Balmy temperatures meant a few more weeks of summer, but the warm weather likely put a chill on retail sales.
Costco Wholesale reported a better-than-expected rise in quarterly profit on Wednesday, helped by improved margins, and the No. 1 U.S. warehouse club operator said September sales at stores open at least a year were stronger than Wall Street forecasts.
The European stock indexes closed mixed Wednesday as declines in the price of oil dragged energy stocks into the red, matching losses in banking shares.
She's dressed former First Ladies Nancy Reagan and Jackie Kennedy and is a favorite of starlet Renee Zellweger, but designer Carolina Herrera says she would like to do a mass-market line, much like the one her friend Vera Wang recently created for Kohl's.
Supermarket group J. Sainsbury, the subject of a 10.6 billion pound ($22 billion) proposed bid, saw its growth slow in the second quarter as Britain's wettest summer on record dampened spending.
U.S. retailers are touting holiday deals and discounts earlier than ever this year, but the efforts may fall flat as consumers expect to start shopping for this crucial season later than ever, according to a survey released Tuesday by NPD Group.
I've already debated here whether Roger Clemens was worth it for the Yankees, but now that we know his season is over, as is the Yankees' for that matter, we can give you the final tally on the Rocket's financials. Clemens joined the Yankees on May 7 of this year, but the clock started ticking on June 9 when he got called up. Since the Yankees season is based on 182 days, that means Clemens salary of $28,000,022 was prorated to 115 days. Based on this, Clemens received a total of $17,690,413 for the season.
We're headed into the holiday shopping season and this one will carry a familiar tune from Nintendo: shoppers looking to deck their dens with a new Wii may be out of luck. Again. The New York Post reports another round of Wii shortages on tap during this year's fourth quarter, even as the company has sold 11 million of these consoles worldwide.
Wall Street bonuses are expected to drop as much as 40% this year. Will sales at luxury stores including Coach (COH) and Tiffany (TIF) take a hit?
Apple shares continue to take off, thanks to news nuggets here and there about the better-than-expected iPhone sales success. In fact, shares are so high that rumblings of an impending stock split are coming back, even though CEO Steve Jobs was pretty clear at his shareholders meeting earlier this year, offering up props to the Google no-split stock-price strategy (Eric Schmidt sits on Apple's board) and steering investors away from the idea of any kind of split.
Agribusiness giant Cargill said this weekend it is recalling about 844,812 pounds of frozen beef patties due to possible E. coli contamination after investigators found four cases of illness linked to a division of Wal-Mart Stores in Minnesota.
Private equity firm Apax Partners is preparing to float U.S. clothing label Tommy Hilfiger with a price tag of up to $3 billion, the Financial Times said on Saturday.
Research in Motion certainly got tongues wagging, and the sweat dripping, and the Apple fanboys wondering what it all means for iPhone. They got a little nervous there when RIM's numbers came out and the stock began to deflate. Nervous again when the rally in RIM shares failed to take off...
Picture this: panicked banker/trader walks out of the New York Stock Exchange and realizes (gasp!) "Oh ****, it is Valentine's Day/our anniversary/her birthday?!" Where does he head? He follows the big orange sign across the Street to Hermes or down the Street to the Tiffany's that is about to open on the 10th. Who else is there?
If you're already wondering what to get for that person in your life who has everything, a couple of retailers on opposite ends of the spectrum have worked up some special offerings for you.
As author of a book about the history of Gatorade, I know that when there's a product that even remotely competes with Gatorade, that product has a hard time marketing itself. That's because the folks at Gatorade have smartly locked up almost every avenue. Case in point, there's a new product called Enlyten Sports Strips.
You can't say we didn't warn you: Halo 3 is an even bigger success than analysts thought it would be and the numbers are simply staggering. So staggering in fact that the game title alone might be enough to push Microsoft's Xbox 360 into the black for the first time in its history...