If Dollar Tree and Family Dollar complete a merger, stores should improve markedly, which may raise concern for competitors.» Read More
NEW YORK— Shares of some top big-box retail companies are mixed at 10 a.m.:. Costco Wholesale Corp. rose$. 04 or percent, to $117.63. Wal-Mart Stores Inc. fell$. 67 or. 9 percent, to $76.32.
While investors will be focused on Amazon's giant e-commerce business when it reports earnings Thursday, its future is tied to Prime.
July 24- Wal-Mart Stores Inc replaced its U.S. business head Bill Simon with Asia chief Greg Foran to turn around its largest business, where sales have been sluggish for at least a year. Wal-Mart shares fell 1 percent in early trading on the New York Stock Exchange.
Wal-Mart says U.S. CEO Bill Simon is leaving the company and will be succeeded by Greg Foran.
French official: Air Algerie flight carrying 116 people vanishes over northern Mali Applications for US jobless benefits dip to 284,000; lowest level since February 2006 World shares subdued despite China manufacturing as reports say EU mulls new Russia sanctions General Motors 2 Q profit falls 85 pct., drained by massive recall costs Ford's second quarter net income up 6 percent to $1.3 billion as Europe makes money again Flush with more revenue, American Airlines posts profit, declares first dividend since 1980 With summer travel season in full swing, United Airlines breaks into the black Higher fares, more full seats help push Southwest Airlines to record 2 Q profit of $465 million Wal-Mart promotes exec of Asia division Greg Foran as new CEO of Wal-Mart US stores Caterpillar 2nd- quarter profit rises, revenue falls; lifts full-year earnings forecast
NEW YORK— Wal-Mart is replacing the chief of its U.S. discount stores in what could be an indication that it's losing confidence that its largest business unit will rebound after more than a year of disappointing results.
July 24- Wal-Mart Stores Inc said Greg Foran, the head of its Asia business, would now lead its struggling U.S. business. Foran, who replaces Bill Simon, will take over his new role on Aug. 9, the company said. Wal-Mart's U.S. same-store sales have remained sluggish for at least a year.
U.S. stock index futures rose on Thursday, ahead of one of the heaviest days for U.S. and European second-quarter earnings.
July 24- Canada's largest grocer Loblaw Cos Ltd's quarterly profit handily beat analysts' expectations, helped by strong pharmacy sales in its recently acquired Shoppers Drug Mart. Sales at Shoppers accounted for more than a quarter of Loblaw's total sales of C $10.31 billion in the second quarter.
Some of the names on the move ahead of the open.
*China food regulator visits 581 food-related businesses. Shanghai police detained five people on Wednesday, including the head and the quality chief of Shanghai Husi Food, a supplier to foreign fast-food brands including KFC, McDonald's Corp and coffee chain Starbucks Corp over allegations it supplied out-of-date meat.
SHANGHAI, July 24- China's food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away as Japan.
July 23- The Delaware Supreme Court affirmed on Wednesday a lower court ruling that ordered Wal-Mart Stores Inc to provide a shareholder with documents related to the company's internal probe of allegations the retailer had paid bribes in Mexico.
July 23- The Delaware Supreme Court affirmed on Wednesday a lower court ruling that ordered Wal-Mart Stores Inc to provide a shareholder with documents related to the company's internal investigation of allegations that the retailer had paid bribes in Mexico.
Even with this week's weakness, Amazon.com stock has been outperforming rival retailers though it will likely face a fairly volatile trading day after it reports.
Slow growth during the first half of the year caused the National Retail Federation to lower its retail sales forecast for 2014.
NEW YORK— The nation's largest retail trade group has pared its annual sales forecast because of slower-than-expected growth during the first half of the year tied to winter storms and lingering economic woes.
For banks working on their post-financial crisis image, catering to poor clients may lead to good will from regulators, the NYT reports.
The latest food scandal in China is spreading fast, dragging in U.S. coffee chain Starbucks, Burger King, as well as McDonald's products from Japan.
Costco Wholesale Corp. rose$. 51 or. 4 percent, to $117.55. Target rose$. 08 or. 1 percent, to $59.38. Wal-Mart Stores Inc. fell$. 13 or. 2 percent, to $76.64.