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 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 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
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
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 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.
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 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'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 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