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Mattel CEO Promises Growth Following Sales Slump
Mattel posted a drop in sales for the first quarter that was more than was expected, as U.S. as well as some retailers in Europe were left with too much inventory following a holiday shopping season that was muted. New CEO Margo Georgiadis... More of this article »
Burberry Misses Estimates on Sales
Burberry Group Plc the luxury retailer based in the UK posted quarterly sales that missed estimates by analysts as a sales decline continues to accelerate in its Americas region and dropping revenue for Hong Kong showed how tough a... More of this article »
Tesla Deliveries Set Record for One Quarter at 25,000
Tesla Inc., the U.S. electric car maker, announced on Sunday its vehicle deliveries for the first quarter had surged by 69% from the same period one year ago to set a record for one quarter of 25,000. Tesla said out of all the vehicles... More of this article »
FedEx Comes Up Short on Earnings
Facing much higher costs despite transporting millions of packages during this past holiday season, FedEx missed expectations on Wall Street Tuesday for the quarter just ended. The three-month period included the majority of the 2016... More of this article »
Brazil Looks to Calm Fears Over Export and Sale of Meat
Brazilian president Michel Temer, who is confronting a huge corruption scandal that is tarnishing the country’s lucrative meat industry, on Sunday met with executives as well as foreign diplomats in an attempt to assuage the health... More of this article »
Dollar General Increasing Pay, Lowering Price and Adding Perishable Goods
As its investors question if the footprint of Dollar General is becoming too large, the retailer must prove its new stores are not the only method of growing sales. To do that, the chain is doing things similar to Walmart. After another... More of this article »
Shares of Staples Fall After Earnings Come Up Short
Office supplies retailer Staples saw its shares drop on Thursday after posting a continued drop in sales of its traditional supplies such as printer ink and paper helping drag the company to a loss during its most recently ended quarter. For... More of this article »
Opel Sold by General Motors to PSA
General Motors has sold Opel to the PSA Group in a deal that values Opel at €2.2 billion or $2.3 billion, said the carmaker on Monday. The sale creates another regional giant in carmakers that will challenge Volkswagen the current... More of this article »
China Becomes Germany’s Largest Trading Partner
In 2016, China for just the first time became the biggest trading partner of Germany. China overtook both the United States and France with the U.S. dropping to third place and France remaining in second indicated new data released... More of this article »
Household Debt Closing in on Levels of 2008
American households around the country are taking on more debt every day. Total debut for households increased at the end of last year to over $12.58 trillion. That represented an increase of more than $266 billion from the 2016 third... More of this article »
Reckitt Benckiser Paying $16.6 Billion for Mead Johnson
Reckitt Benckiser agreed to acquire Mead Johnson Nutrition, the maker of baby formula, based in the U.S. That takes the Britain-based consumer goods business into new territory and expands its presence across developing markets. Reckitt,... More of this article »
U.S. Company Leading Race to Buy Airbag Maker Takata
Takata is narrowing down a buyer from the United States to help it get through its huge recall crisis with airbags. The troubled firm, based in Japan, established an independent committee that recommended the takeover bid of Key Safety... More of this article »
Amazon Will Spend Nearly $1.5 Billion on Air Cargo Hub
Amazon’s new investment, which could help to create over 2,000 new jobs, is just example of the company’s ambition to grow in logistics and shipping. The largest e-retailer in the world is planning to build its first air cargo... More of this article »
PepsiCo Plans for Super Bowl All About Water and No Calories
PepsiCo will water down its Super Bowl advertising. The beverage maker announced late Tuesday that its 30-second ad for Super Bowl LI will be for Lifewtr its new brand of premium bottle water. The spot is called Inspiration Drops and... More of this article »
McDonald’s Sells Majority of Hong Kong and China Business
McDonald’s Corp agreed on Monday to sell the bulk of its Hong Kong and China business to CITIC Ltd, a conglomerate that is state supported and Carlyle Group LP for $2.1 billion, as it seeks to expand quickly without using that much... More of this article »
J.C. Penney Sees Drop in Holiday Sales
The attack on retailers continued last this week when J.C. Penney Co posted a decline in sales at same-stores during the months of November and December, just the latest chain of department stores adding to the malaise in the retail... More of this article »
Weak Sales During Holiday Season Hit Macy’s and Kohl’s
More than 10,000 jobs will be cut by Macy’s and the department store chain detailed plans to shuttered dozens of its stores, following another poor holiday season for sales, providing additional evidence that the department store... More of this article »
Hershey Names Michele Buck As New CEO
Hershey announced that Michele Buck an 11-year veteran with the company would be the next CEO and president of the chocolate maker, an appointment during a time when large food manufacturers are being challenged by startups that are... More of this article »
Retailers Stopping On-Call Scheduling
Six retailers in the U.S. will not require their hourly employees to check if they are needed for work and risk seeing shifts in their schedules cancelled at the last minute. On Tuesday, the announcement will be made by Eric Schneiderman... More of this article »
Walmart Preparing for Last Minute Frenzy of Christmas Shoppers
Hoping for a smooth ride as the Christmas shopping seasonal rush comes to an end, Walmart is attempting to move more last minute shoppers over to its service of in-store pick up for orders online and push them to plan ahead. The world’s... More of this article »
Michael Jordan Gains Ground on Getting His Name Back
Michael Jordan had gained ground in his long battle with a sportswear company in China over his name being used in the most populous country in the world. The former basketball superstar has been tied up in a legal battle for years... More of this article »
McDonald’s Keeping As Much As 25% in Hong Kong and China Stores
McDonald’s Corp is trying to raise between $1 billion and $2 billion through the sale of its Hong Kong and China stores after the fast food giant based in the U.S. decided it would keep as much as a 25% minority stake, said a person... More of this article »
Early Data from Cyber Monday Shows Sales Increasing Over 9%
While a steady stream of customers have been keeping retailers busy for a number of days thanks to discounts from holiday promotions, shoppers still took to Internet in large numbers for Cyber Monday. Early data shows that sales online... More of this article »
Retailers Anticipating Strong Support for Small Business Saturday
The better known of the two may be Black Friday due to its huge deals but Small Business Saturday is a shopping day that puts its emphasis on community. Sponsored by American Express, Small Business Saturday takes place on the Saturday... More of this article »
European Union Car Sales in October Ended Flat
The new car market across the European Union was flat during October as demand dropped in the two largest countries of the bloc reported the Automobile Manufacturers Association or ACEA on Thursday. Total sales in the EU slightly exceeded... More of this article »
Vodafone Takes Charge of $5 Billion Due to India Price War
Vodafone the telecoms group posted a net loss for the first six months of 2016 of €5 billion equal to $5.5 billion Tuesday after it wrote down its Indian business by $5 billion because of a price war starting due to a powerful rival... More of this article »
McDonald’s Sales in U.S. Increase Amidst Competition
McDonald’s Corp has kept its turnaround on the right track during its most recent quarter despite an increase in competition across the U.S. The burger chain was aided by its all-day breakfast, its McPick value promotions and its... More of this article »
U.S. Lifts Limits on Imports of Cuban Alcohol and Cigars
For a number of decades, Cuban cigars have been renowned for their intense flavor and difficulty in being obtained. The decade’s long embargo by the U.S. against Cuba has prevented Americans from returning with Cuban cigars, even... More of this article »
Coca Cola Acquiring Former SABMiller Africa Bottling Stake
Coca-Cola Co. on Monday announced that it would be exercising a clause of change of control, which gives it the right to acquire the former interest of SABMiller in Coca-Cola’s largest bottling company in Africa. This move takes... More of this article »
Big Mac Not Known by Many Millennials
The Big Mac does not seem to be as big any longer. It is not about its size, but its popularity. One top franchisee with McDonald’s said in a memo, that was send to other franchisees during the summer, that the Big Mac is less relevant. One... More of this article »
New Home Sales Plunge in August by 7.6%
New home sales pulled back during August, one month following a surge in sales to their highest level in over 9 years. In each region, activity dropped across the country with the exception of the West. Sales of new homes were down... More of this article »
General Mills Has Earnings Hit By Weak Sales of Yogurt
General Mills Inc posted sales that fell 7% during its most recent quarter, ending the three-month period at $3.9 million, due to a plunge in the United States of its Yoplait yogurt business as shoppers shift to brands that are Greek-style. General... More of this article »
Ford Pays $65 Million to Acquire Startup Chariot
Late last week, Ford Motors acquired Chariot a startup shuttle van company in a deal that was all cash. However, the price at the time of the deal was not disclosed, so it was not certain if the deal had been for a distressed startup... More of this article »
Drop in Prices of Food Pressures Distributors and Grocers
A continual slide in the price of food has put pressure on more U.S. distributors and grocers, weighing down their shares and prompting some to make revisions to their outlooks in earnings for the full year. Sprouts Farmers Market... More of this article »
Campbell Soup Weighed Down by Carrot Business
Campbell Soup Co posted an adjusted profit that was less than had been predicted due to a recalled product and higher costs as well as lower sales of its carrots. The company expects the same issues to dent sales the remainder of 2016. The... More of this article »
Abercrombie & Fitch Posts Drop in Sales for Quarter
Abercrombie & Fitch reported a drop in sales for its most recent quarter as well as releasing a cautious outlook for the rest of the year, as the retailer of apparel struggled to entice shoppers into its locations in malls. Abercrombie... More of this article »
Target Corp Cuts Annual Forecast for Profit
During the just ended quarter, Target Corp posted sales at same-stores that fell and the retailer is expecting more declines that will hamper its turnaround. On Wednesday, Target Corp announced that its sales at its established locations... More of this article »
Home Depot Has 9.3% Increase in Profit from Latest Quarter
On Tuesday, Home Depot posted revenue and earnings that were mostly in line with estimates on Wall Street, as the largest retailer for home improvement in the world continued reaping the benefits of a strong U.S. housing market. The... More of this article »
Michael Kors and Coach Hand Department Stores Another Setback
Department stores are already struggling as they face declining numbers of customers and on Tuesday and Wednesday were hit hard again by two brands that are considered big lures for department store shoppers. On Wednesday, Michael... More of this article »
Burger King Owner Same Store Sales Come Up Short
Despite getting a boost in sales from unique new products such as Mac ‘N Cheetos and Chicken Rings, Restaurant Brands International saw its sales in same stores come up short of expectations by analysts. The owner of Tim Hortons... More of this article »
McDonald’s Misses Expectations on Growth of Sales
McDonald’s Corp, the largest restaurant chain in the world posted sales growth for same stores that came up short of analyst expectations, which stoked concerned that the fast food industry in the U.S. was heading toward a recession. Sales... More of this article »
PepsiCo Beats Wall Street on Profit With Help from Frito Lay
PepsiCo posted profit for the second quarter that topped expectations on Wall Street as the company slashed its costs and sold more snacks from Frito Lay than it expected. The company raised its earnings outlook for the full-year,... More of this article »
Chipotle Giving Away Food to Win Customers Back
Chipotle Mexican Grill hopes that some free food will help them to win back some valued customers. The chain will launch its Chiptopia promotion for the summer beginning Friday that will reward customers for the number of times they... More of this article »
Rite Aid Posts Sales and Profit That Miss
Drugstore chain Rite Aid said reductions in drug costs would be short of their expectations in the short term. Rite Aid Corp, posted sales and earnings that disappointed for its just ended first quarter amidst pressure from pharmacy... More of this article »
Consumer Prices Rise as Rents Move Up in U.S.
The U.S. cost of living excluding fuel and food rose during May, driven by the rising costs of rent. The core measure as it is called of the consumer price index was up 0.25 during May, the same as it was during April, a report on... More of this article »
Retail Sales: Higher Increase Than Forecasted as Consumers Spend
In May, retail sales increased more than had been forecasted, showing that consumer spending will give a boost to economic growth during the second three months of 2016. The increase of 0.5% in purchases comes after a jump of 1.3%... More of this article »
TAG Heuer CEO: Watchmaker Pushing into China
On Saturday, the CEO of LVMH’s Swiss luxury watchmaker said the company was pushing the brand TAG Heuer in China, as its rivals pull back their investment in the most populous country in the world due to demand becoming weaker. Jean-Claude... More of this article »
Signet Shares Drop As Report Alleges Diamond Swapping
Signet Jewelers the operator of Jared, Kay and Zales said it strongly objected to the allegations. Signet Jewelers shares dropped on Friday reaching a weeklong drop of 12% amidst reports that have questioned its customers’ credit... More of this article »