Farooq Kathwari, Ethan Allen Interiors chairman and CEO, says discounting is like a craze; retailers follow each other. It is a race to not making money, he adds.» Read More
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Q: On Fast Money’s trader radar we look at the stock that was lighting up screens across Wall Street. Named after a Revolutionary War hero, this company revolutionized the way to sell furniture with its real-life showroom settings. But a bleak earnings outlook had many investors rethinking today whether the shares have the right look for their portfolios.
Oil continues to trend downward, and airlines are again among the most actively traded pre-open (I noted yesterday that oil is down 27 percent since its July highs but the S&P 500 is only up about 5 percent since its July lows);
Driving around Southern California’s Ventura and Los Angeles counties, we saw many of those boarded up stores or “for lease” signs in small businesses. In Oxnard, California the local retail organization told me that these areas are getting “redeveloped” but store owners were much less optimistic.
Sears Holdings on Tuesday forecast lower quarterly profit and said it needs to better control its costs and stock more items that its shoppers demand, sending shares down more than 8.7%.
Furniture maker and retailer Ethan Allen Interiors forecast quarterly earnings below analysts' expectations on Monday, citing a challenging economic environment for home furnishings retail.