Democrats such as Elizabeth Warren had their eye on business and the working class during the first 2020 presidential primary debate in Miami.2020 Electionsread more
The issue over health insurance marked the first stark divide among the candidates, and sparked a heated back-and-forth between many of the candidates on stage.Politicsread more
Huawei's legal chief told CNBC that the company makes "solutions for civil use."Technologyread more
Four candidates mentioned China — but none of the Democratic contenders brought up trade in the debate.Politicsread more
In a strategy to draw attention away from Wednesday's Democratic debate, President Donald Trump's reelection campaign bought out YouTube's "masthead," the leading...2020 Electionsread more
The Federal Aviation Administration said on Wednesday that is has found an issue with the Boeing 737 Max that the manufacturer must address before it lifts the grounding...Airlinesread more
The collapse of the deal potentially ended Sinclair's hopes of building a national conservative-leaning TV powerhouse that might have rivaled Fox News.Mediaread more
Virginia Sen. Mark Warner breaks down the idea behind a bipartisan bill he introduced to provide more transparency in Big Tech.Technologyread more
Tesla is working on new battery cell designs, and a way to make their own cells, with R&D teams in a lab near its car plant in Fremont, California.Technologyread more
These attacks have given the public the opportunity to examine the problems associated with ransomware, where corporations -- not obligated to disclose these attacks -- have...Technologyread more
Wi-Fi 6 will be the next-generation wireless standard. Along with 5G, it will represent the next big shift in connectivity and data, said Irving Tan, senior vice president and...Shaping the futureread more
Retail earnings season is upon us, in case you haven't already noticed.
And although multiple department store chains saw their stocks crater last week on second-quarter results, analysts are saying the environment really isn't as bad as it seems.
In fact, department stores, for the most part, posted better-than-expected results. There has been a "severe overreaction" on the Street, Rick Helfenbein, CEO of the American Apparel and Footwear Association, said.
"The business is not that bad," Helfenbein told CNBC's "Squawk on the Street " on Monday. "I expect good results this week. ... I think we see an improvement."
As of Monday, about 70 percent of retailers and restaurants have reported second-quarter results, with some of the biggest names in retail still on deck.
Last week, Nordstrom was the only one of four department stores, including Kohl's, Macy's and J.C. Penney, to post same-store sales growth — a key metric that Wall Street is looking for — for the period. But this week several companies are expected by analysts to report positive comps, something that could spin the so-called retail apocalypse narrative in another direction.
Home Depot, which reports earnings before the bell on Tuesday, is expected to post comparable sales growth of 4.9 percent, according to a survey of analysts by Thomson Reuters. This would be better than the 4.7 percent growth it saw during the second quarter of 2016.
"Off price, which has been touted as the next segment Amazon will take over — I don't think this is the case at all, " MKM Partners retail analyst Roxanne Meyer told CNBC. She added that the third quarter looks to be off to a "clean start" for many, with promotions down in stores and margins improving.
Off-price chain Ross Stores' same-store sales are also forecast to climb, up 2.3 percent, Thomson Reuters said. But this is less than the 4 percent growth that Ross reported one year ago. TJX also saw higher comps of 4 percent in the second quarter of 2016.
Considering the year-over-year declines — though results are still faring better than most of the industry — some analysts have begun to speculate the off-price chains are losing steam.
Nonetheless, Meyer said she is confident that profits and revenues will fall in line with, or better, Street expectations for the retailers reporting this week, and outlooks should be reiterated.
Looking to the big-box retailers, Wal-Mart and Target are both in the midst of different strategies today — one in acquisition mode and the other investing more back in its own business.
Since acquiring Jet.com, Wal-Mart's e-commerce has accelerated, and the company is now reportedly in talks to buy Birchbox.
Source: Thomson Reuters
Target announced plans on Monday to acquire Grand Junction as part of its plans to roll out same-day delivery service in more cities starting next year. The company also said it added two top executives to help expand its grocery business.
Though Target's second-quarter earnings are expected to fall by 2.5 percent, based on Thomson Reuters' estimates, the retailer has already said 2017 will be a year of investing and setting the company up for future growth.
Source: Thomson Reuters