Macy’s posted fiscal second-quarter earnings Wednesday that easily topped Wall Street’s expectations, as it said revamped stores helped sales trends. The department store operator also raised its full-year earnings and sales guidance. It now expects adjusted earnings of between $1.70 and $2.05 per share, compared with $1.60 to $2 per share, and revenue between $21.15…
Warren Buffett told CNBC on Tuesday that he is disappointed in the Kraft Heinz split that unwinds much of the blockbuster merger he masterminded a decade ago. With a 27.5% stake in the company, Berkshire Hathaway is Kraft Heinz’s largest shareholder. The firm has not touched its shares since the 2015 merger that formed the…
A recent improvement in Hong Kong’s retail sector spilled into July, with sales rising by 1.8 per cent year on year in a sign that the industry had stabilised, the government said on Monday. According to the Census and Statistics Department, the increase marked the third month in a row of growth following 14 consecutive…
The Club’s 10 things to watch Friday, Aug. 29 — Today’s newsletter was written by Jeff Marks, the Club’s director of portfolio analysis. 1. The S & P 500 is on pace for a lower open to finish out the week after closing yesterday at a record high. There were no major fireworks from the…
Key Points Analysts suggest Shein’s reported shift of its headquarters back to China could mark a final effort by the retailer to keep its embattled IPO on track. “After years of trying to position itself as a global brand rather than a Chinese fashion company, it’s back to square one,” Perris Lee told CNBC. The…
A Kohl’s store in Pleasant Hill, California, on Nov. 25, 2024. Bloomberg | Bloomberg | Getty Images Shares of Kohl’s surged Tuesday in volatile trading that echoed the meme stock rallies of recent years. The legacy department store’s stock more than doubled from Monday’s close of $10.42 per share, only to see those gains wiped…
Jeff Bezos gestures as he leaves Aman Venice hotel, ahead of their expected wedding, in Venice, Italy, June 25, 2025. Guglielmo Mangiapane | Reuters Amazon founder Jeff Bezos sold nearly three million shares worth $665.8 million over two days in July, a regulatory filing Tuesday showed. The stock sale is part of a plan announced…
My top 10 things to watch Tuesday, June 24 1. Is there an Israel-Iran ceasefire or not? President Donald Trump announced an agreement to end the conflict, but hours later, Israel accused Tehran of violating it. Trump said Israel will not go through with a retaliatory strike on Iran, and that the truce is still…
British retailer Marks & Spencer resumed taking online orders for some clothing lines on Tuesday after a 46-day hiatus following a damaging cyberattack. The 141-year old M&S, one of the best known names in British business, said on its website “select fashion ranges now available to buy online”. M&S stopped taking clothing and home orders…
Bus stop advertising for Chinese fashion company Shein on 4th May 2025 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images Fast fashion giant Shein’s troubles continue to mount after its much anticipated London initial public offering (IPO) reportedly hit a fresh roadblock. The e-commerce behemoth is now aiming for a Hong…