With the S&P 500 index down by about 20% so far this year, some investors are trying to ride out the storm. Facing war in Europe, stubborn inflation, rising interest rates and the threat of recession, they’re searching for beaten-up stocks offering fat present income. The danger, though, is that the hunt for what seems … Read more
Revlon makeup products are displayed at a CVS store on August 9, 2018 in Sausalito, California. Justin Sullivan | Getty Images The retail industry is up against a potential wave of bankruptcies following a monthslong slowdown in restructuring activity. There could be an increase in distressed retailers beginning later this year, experts say, as ballooning … Read more
Scoop is one of Walmart’s exclusive fashion brands. It has also struck deals with national brands like BCBG Paris. Melissa Repko | CNBC SPRINGDALE, Arkansas – Dressed-up mannequins. Eye-catching displays of sleek furniture and colorful swimsuits. And store signs that promote exclusive brands and nationally recognized ones. Walmart’s redesigned SuperCenter, located just 16 miles from … Read more
David Simon, chairman and chief executive officer of Simon Property Group Patrick T. Fallon | Bloomberg | Getty Images David Simon, the chief executive officer of the biggest shopping mall owner in the country, wants to create a new type of annual shopping extravaganza as consumers are increasingly feeling the pinch of inflation just about … Read more
Shoppers walk in front of a Target store at the Lycoming Crossing shopping plaza in Muncy, Pennsylvania. Sopa Images | Lightrocket | Getty Images Target warned investors Tuesday that its profits will take a short-term hit, as it marks down unwanted items, cancels orders and takes aggressive steps to get rid of extra inventory. The … Read more
Ulta Beauty store. Scott Mlyn | CNBC Check out the companies making headlines in midday trading Friday. Ulta Beauty – The beauty retailer surged 10% following better-than-expected quarterly earnings and revenue. Ulta Beauty also shared a better-than-expected outlook for the full year. American Eagle – The stock dropped 4.2% after the retailer posted weaker-than-expected quarterly … Read more
A Nordstrom employee fixes a floral dress on a mannequin in one of the retailer’s department stores. Ben Nelms | Bloomberg | Getty Images Out with sweatpants, in with blazers, lipstick and eye-popping prints on dresses. Americans are sprucing up their wardrobes and spending more on dressier clothing, makeup and accessories as they start going … Read more
Here are Friday’s biggest calls on Wall Street: Jefferies upgrades Ulta to buy from hold Jefferies said it’s turning more constructive on shares of Ulta. “We are reframing our thesis, upgrading to Buy with an ‘all clear’ signal re: make-up recovery, favorable channel shift, share gains, leverage on tighter costs & inventory, embedding freight cost … Read more
Check out the companies making headlines before the bell: Big Lots (BIG) – The discount retailer’s shares tumbled 21.2% in the premarket after missing Wall Street forecasts for quarterly earnings and revenue. The company also reported a larger-than-expected slump in comparable-store sales and issued cautious full-year guidance, saying inflationary pressures reduce discretionary spending. Hibbett (HIBB) … Read more
A rough first quarter for Gap could be just the start of a longer down period for the company, according to Morgan Stanley. Analyst Kimberly Greenberger downgraded Gap to underweight from neutral, saying that Thursday’s disappointing quarterly report showed a company with internal issues and a difficult consumer environment. “The 1Q22 EPS miss materialized, & … Read more