On a year-on-year basis, Australia's retail sales figures are up about 5 percent in May, says David Thomas, head of Australian consumer research at CLSA.» Read More
Inditex, Europe's biggest clothing retailer and owner of the Zara chain, reported a 25 percent jump in 2007 net profit on Monday and gave healthy sales figures for the new year so far.
Over the last year, J. C. Penney rolled out a powerful new marketing campaign, but consumers are not biting. Friday, J. C. Penney sharply cut its earnings forecast for the first three months of the year, blaming the tough economy.
So plenty of debate on the retailers as JC Penney lowers estimates. The crux of the debate is, is this the worst for the year? Lehman Brothers thinks so, in a note to clients a short while ago they said, "we are optimistic that 1Q08 represents the low point of the year as we expect inventory levels to improve throughout 2008."
J.C. Penney lowered its first-quarter earnings forecast, saying sales through the Easter holiday were "well below expectations."
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Swedish fashion company Hennes & Mauritz bucked a gloomy economic backdrop and boosted its shares with a near 20 percent jump in first-quarter profit, above forecasts and fired by strong February sales.
Kansas State head basketball coach Frank Martin says he's pretty sure his freshman Michael Beasley is turning pro, speculating that he's worth about $100 million in salary and endorsement money.
Motorola announced today it's planning on splitting up into two publicly traded companies: spinning off its money-losing mobile device business from its growing broadband and mobility solutions business. CEO Greg Brown said on a conference call this morning that having two independently traded companies would unlock value for shareholders
Well, you knew it would happen--"sell the rally," except this time it's come a few days after the rally. The dollar is getting hit again as the ECB has make it clear they are unlikely to lower interest rates.
British supermarket retailer J. Sainsbury reported a 4.1 percent rise in like-for-like sales excluding fuel in the fourth quarter, above expectations, and said it saw "strong growth" in sales of non-food items.
So the NBA has given us the mother of all jersey sales lists. In honor of them celebrating the upcoming 10-year anniversary of their store in New York City, they have released their top 10 best selling jerseys.
Upmarket Australian department store chain David Jones said first-half underlying profit jumped 25 percent, helped by buoyant Christmas sales, and maintained its forecast for the rest of the year.
I was traveling in LA back on St. Patrick's Day and didn't get a chance to blog about American Apparel's Q4 earnings when they were reported on March 17th. As we mentioned on this blog, same store sales were expected to be up an impressive amount and they certainly were: + 40 percent.
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High end sales are the last to fall off going into a downturn and the first to pickup coming out of a recession. So what does Tiffany's spacer better than expected earnings tell us about where we are in the middle of those two options?
Blu-ray officially won the high-def format war, and now everyone who was burned is licking their wounds. Toshiba announced it will lose $1.1 billion in fiscal 2007 due to losing the format battle.
Nike, the world's largest maker of athletic footwear and apparel, reported a third-quarter profit that easily beat expectations, helped by strong international sales of shoes and clothing buoyed by a weak dollar.
Break out the spandex, the high waisted pants with big belts and the big jewelry--but keep the spiral perms please. Not since the betamax-vhs battles of the 1980s have the tech and entertainment wars over video format been this heated.
The traditional music biz is over as CD sales dropped about 20 percent from 2006 and 2007. And revenues from that physical music business are likely to comprise just 20 percent of an up and coming band's revenue stream.
Metro, Germany's biggest retailer, disappointed investors on Tuesday with a lacklustre plan to revamp its Real hypermarkets and a conservative 2008 forecast.