Some of Wednesday's midday movers:» Read More
*Company sees 4th- qtr revenue of $513- $518 mln. *Sees earnings 71- 73 cents/ share, down from 78- 80 cents. Jan 13- Sales at Lululemon Athletica Inc's established stores will likely fall in its latest quarter, the first year-on-year drop since 2009, the company warned on Monday, the latest in a spate of setbacks for the once high-flying yogawear retailer.
Lululemon Athletica and Express became the latest retailers to warn investors of disappointing earnings in the holiday quarter.
*Sees earnings 71- 73 cents/ share, down from 78- 80 cents. Jan 13- Sales at Lululemon Athletica Inc's established stores will likely drop in the fourth quarter, the first year-on-year drop since 2009, the company warned on Monday, the latest in a spate of setbacks for the once high-flying yogawear retailer.
Retailers responded to weakness last year with deep discounts and promotions. Still, the softness is creeping into January.
*Expects fourth-qtr net revenue $513 mln- $518 mln, down from $535 mln- $540 mln. *Forecasts earnings of 71- 73 cents/ share, down from 78- 80 cents. Several U.S. apparel retailers including American Eagle Outfitters Inc and Zumiez Inc lowered their forecasts last week as reluctant shoppers forced them to offer steep discounts during the holiday shopping season.
Fast-fashion retailers like H&M are picking up a bigger chunk of sales—at the expense of traditional names like Abercrombie & Fitch and Aéropostale.
Many U.S. retailers had to ramp up promotions last month as shoppers continued to watch their spending during the holiday season.
Fewer store visits and aggressive pricing at the start of the season by big retailers like Amazon.com Inc and Wal-Mart Stores Inc left many chains with little choice but to offer sweeter deals this holiday season. Those bargains led many chains, including L Brands, Family Dollar Stores Inc and teen retailer Zumiez Inc, to slash their profit forecasts.
Macy's is becoming an innovator, but don't expect that to carry through to other retailers.
L Brands cut its earnings forecast for the holiday quarter on Thursday after reporting disappointing December sales at its Victoria Secret and La Senza chains. Family Dollar Stores Inc and teen retailer Zumiez Inc, which both reported sales declines for December, also slashed their profit forecasts.
Wall Street analysts are adjusting their 2014 forecasts for retail, and although they're generally cautious, they do see some positive signs.
Some of the names on the move ahead of the open.
A number of specialty stores have pumped the brakes on their dramatic discounts, but department stores are still offering big price cuts.
According to ShopperTrak, traffic for the week ended Dec. 22 was down 21.2 percent year over year.
The 11th-hour moves include a barrage of emails broadcasting drastic promotions, including half-off discounts on all merchandise.
Holiday shipping deadlines are fast approaching, but shoppers may have until Christmas Eve to place—and receive—Christmas orders.
The second storm of the holiday season is making its way through a wide swath of the nation just as the shopping crunch intensifies.
After an earlier controversy, poor sales and stock performance, the once-trendy retailer is offering larger sizes as part of a turnaround effort.
Struggling retailer Abercrombie & Fitch said it will extend CEO Mike Jeffries' contract, days after a shareholder urged the company to replace him.
Dec 9- Struggling teen apparel retailer Abercrombie& Fitch Co said it will extend Chief Executive Mike Jeffries' contract by at least a year after it expires in February, days after a shareholder urged the company to replace him.