The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Canadian yoga wear retailer Lululemon Athletica reported comparable sales growth that fell short of analyst estimates, sending shares down nearly 9 percent on Thursday even as earnings were in line with expectations.
Second-quarter sales online and at stores open at least a year rose 5 percent, excluding exchange rate fluctuations. Analysts polled by research firm Consensus Metrix had expected a 5.9 percent increase.
Baird Equity Research analyst Mark Altschwager said the comparable sales miss would likely "fuel investor anxiety" given high expectations and the strong performance of Lululemon's stock. Before earnings, shares were up 46 percent year to date.
On a conference call, Chief Financial Officer Stuart Haselden reminded analysts and investors that Lululemon had an online promotion in the second quarter of last year. Excluding the impact of that sale, he said, comparable sales would have increased about 2 more percentage points.
"We did see traffic continue to be a headwind for us in the second quarter," said Haselden, adding that customers did make larger purchases, offsetting that trend. "I think we are not immune to what's happening from a macro standpoint."
U.S. retail sales were unexpectedly flat in July as consumers cut back on discretionary spending.
The Vancouver-based company forecast fiscal third-quarter earnings between 42 and 44 cents a share. Analysts, on average, had expected earnings of 44 cents for that quarter, according to Thomson Reuters I/B/E/S.
Once a market darling thanks to its successful move into the U.S. market, a feat few Canadian retailers accomplish, the company has struggled with embarrassing product recalls and inventory problems in recent years.
Inventory levels fell 1 percent in the quarter, to $277.3 million.
The company helped bring pricey women's yoga pants into the fashion mainstream before expanding into running and other sports. It now makes men's clothing, and its Ivivva line offers athletic clothing for younger clientele.
Net income rose to $53.6 million, or 39 cents a share, from $47.7 million, or 34 cents, a year earlier. Revenue rose 14 percent to $514.5 million. Excluding a tax and related interest adjustment, earnings were 38 cents a share.
On average, analysts had been expecting earnings of 38 cents a share and revenue of $515.5 million, according to Thomson Reuters I/B/E/S.
Shares dropped 8.6 percent to $70.07 in after-market trading.