3 Hours Ago Chinese electric vehicle stocks rise; Xpeng quarterly results eyed. Hong Kong-listed stocks of Chinese electric vehicle firms have surged in early afternoon trading. Shares of BYD, Nio, Xpeng, and Li Auto have all risen between 2.47% and 6.11%. Markets in Asia also rose across the board following upbeat economic data from China …
Traders are optimistic about U.S. stocks maintaining a winning streak despite Moody’s cutting its U.S. credit outlook. Congress is working to prevent a government shutdown before the week ends. Walmart and Target will be reporting earnings this week. Here are the most important news items that investors need to start their trading day: The major …
A Rite Aid store stands in Brooklyn on August 28, 2023 in New York City. Spencer Platt | Getty Images Rite Aid has filed for Chapter 11 bankruptcy protection in New Jersey, announcing plans to restructure and reduce its debt significantly. The company has reached a deal with creditors for a restructuring plan that includes …
Target CEO Brian Cornell. Scott Mlyn | CNBC Target CEO Brian Cornell held a meeting with President Joe Biden on Thursday to discuss U.S. consumers and the economic landscape. Cornell was joined by other industry leaders including Brendan Bechtel, CEO of Bechtel Group; Calvin Butler, CEO of Exelon; Kenneth Chenault, chair and managing director of …
Levi’s 501 blue jeans were displayed by Levi Strauss, but the company’s full-year sales forecast was cut due to weaker shopping trends at U.S. department stores and big-box retailers. The company missed Wall Street’s revenue expectations for the quarter, leading to a slight drop in shares. CEO Chip Bergh attributed the decline in sales to …
Costco reported quarterly earnings that exceeded Wall Street’s expectations. Despite a decrease in sales of big-ticket items, the membership club saw an increase in shoppers purchasing groceries. This resulted in a rise in traffic to Costco’s stores, with a 5.2% increase worldwide and 5% in the U.S. However, the average transaction amount dropped by nearly …
A multitude of retailers are once again attributing shrink as one of the main causes of their underwhelming profits for the quarter. However, some of these companies are now offering more detailed information than ever before on the extent to which shrink, including theft, damage, and fraud, is impacting their bottom lines. At the same …
Walmart is hosting its first-ever seller summit for businesses who are part of its third-party marketplace. The two-day event features informative how-to sessions and speeches by the company’s top leaders. Melissa Repko | CNBC LAS VEGAS — Walmart is exploring innovative tactics to attract sellers to its third-party marketplace in an effort to boost online …
Abercrombie & Fitch Courtesy: Abercrombie & Fitch Shares of Abercrombie & Fitch soared on Wednesday after the company exceeded Wall Street’s expectations for quarterly earnings and sales. CEO Fran Horowitz attributed the strong performance to the retailer’s efforts in attracting more customers with a diverse range of fashionable options beyond jeans and T-shirts. Horowitz also …
