Edition:
United States

Aishwarya Venugopal

J.C. Penney quarterly loss halves, sales still fall amid turnaround

Aug 15 2019

J.C. Penney Co Inc reported a smaller-than-expected quarterly loss on Thursday, as the department store operator's efforts to cut costs and shutter unprofitable businesses paid off, sending shares of its penny stock higher by as much as 14%.

Macy's shares sink as discounts to clear inventory hurt, tourism drops

Aug 14 2019

Macy's Inc cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory, sending its shares down as much as 18%.

Kraft Heinz withdraws outlook after dismal results

Aug 08 2019

Kraft Heinz Co reported weak sales on Thursday, prompting the maker of packaged foods to write down the value of several business units by more than $1 billion and drop its full-year forecast as it struggles to lure back customers. | Video

CORRECTED-Kraft Heinz withdraws outlook after dismal results

Aug 08 2019

Aug 8 Kraft Heinz Co reported weak sales on Thursday, prompting the maker of packaged foods to write down the value of several business units by more than $1 billion and drop its full-year forecast as it struggles to lure back customers. Shares fell to a record low as the Chicago-based company marked a 12th straight quarter of lackluster sales. Kraft Heinz, which counts billionaire Warren Buffett as its largest investor, has been battered by competition from private-label brands, changing consumer tastes and lower investment in its brands due to heavy cost-cutting under leaders installed by Brazilian private equity firm 3G Capital.

Yum Brands posts earnings beat on KFC boost, Pizza Hut rebound

Aug 01 2019

Yum Brands Inc beat expectations for quarterly profit on Thursday, as menu refreshes and a delivery push drove better-than-expected growth at all of the restaurant operator's chains, including Pizza Hut, sending its shares to a record high.

Under Armour sales growth in North America trails Nike again; shares sink

Jul 30 2019

Sportswear maker Under Armour Inc on Tuesday cut its full-year revenue forecast for North America as demand at its stores and online faced pressure from relentless competition from bigger rivals Nike and Adidas. | Video

McDonald's beats sales forecast on new deals, store revamp

Jul 26 2019

McDonald's Corp beat quarterly sales expectations at established U.S. restaurants on Friday, as the world's largest burger chain attracted more diners with upgraded stores and new promotions, such as the 2 for $5 Mix and Match deal.

Arizona cancels incentive for Nike plant after 'terrible decision' to recall sneaker: governor

Jul 03 2019

Arizona's governor on Tuesday withdrew a $1 million incentive for Nike Inc to build a plant in the state after the world's largest sportswear maker canceled release of a sneaker featuring a colonial-era version of the American flag, which critics say reflects links to slavery. | Video

Coty to write down $3 billion in assets as it restructures, shares tumble

Jul 01 2019

Coty Inc said on Monday it would write down about $3 billion in value of brands acquired from Procter & Gamble Co , as the struggling cosmetics maker laid out a four-year restructuring plan, sending its shares down as much as 19%. | Video

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