Tag: Retail – Consumer Staples

Costco tops quarterly earnings expectations, even as sales remain soft

Costco on Tuesday reported quarterly earnings that topped Wall Street’s expectations.

General Mills Narrowly Beats Earnings and Sales Estimates

General Mills  reported fiscal first-quarter earnings and sales that slightly beat analysts’ estimates and reiterated fiscal-year guidance.

Coty’s stock jumps premarket after company raises fiscal 2024 guidance to reflect strength in prestige fragrances

Coty Inc.’s stock  jumped 4.6% in premarket trade Wednesday, after the beauty, cosmetics and fragrance giant raised guidance for fiscal 2024, boosted by strength in its prestige fragrance business.

Online grocery firm Instacart seeks up to $7.7 billion valuation in IPO

Instacart on Monday submitted an updated filing for its upcoming initial public offering, saying it is looking to raise up to $616 million of fresh capital alongside existing shareholders at a valuation of as much as $7.7 billion.

Kroger will pay up to $1.2 billion to settle most nationwide opioid claims

Kroger on Friday said it has agreed to pay $1.2 billion to U.S. states, subdivisions and Native American tribes to settle the majority claims that it fueled the opioid epidemic through lax oversight of its pill sales. 

Walgreens CEO Roz Brewer steps down after more than 2 years in the role

Walgreens Boots Alliance said Friday that Roz Brewer had stepped down as the company’s chief executive.

CVS Stock Drops. One of Its Insurance Partners Is Turning to Amazon.

CVS Health  stock fell Thursday on a report that a major health insurer will drop its pharmacy-benefit management service in favor of a system partially operated by Amazon.com.  

Walmart raises full-year earnings forecast as grocery, online growth fuel higher sales

Walmart on Thursday raised its full-year forecast, as the discounter leaned on its low-price reputation to draw grocery customers and drive online spending.

Target slashes full-year forecast as retailer struggles to win over thrifty shoppers

Target on Wednesday missed quarterly sales expectations and slashed its full-year forecast, as it again had trouble convincing shoppers to buy more than necessities.

Britain’s M&S sees annual profit growth

British supermarket Marks and Spencer  said on Tuesday it expected profit growth for the year 2022-2023, with interim results likely to significantly improve against previous expectations.

Walgreens slashes earnings guidance due to lower consumer spending, drop in Covid care demand

Walgreens Boots Alliance on Tuesday slashed its full-year earnings guidance as it fell short of Wall Street expectations for its fiscal third quarter due to lower consumer spending and a drop in demand for Covid vaccines and testing.

Casino investors’ hopes for CDS payout dashed again

A panel that reviews disputes in the credit default swaps market said on Friday that a ‘failure to pay’ credit event had not occurred in relation to Casino Guichard Perrachon, dashing investors’ hopes for a payout on the company’s CDS.

Dollar General prunes annual outlook as penny-pinched shoppers curb spending

Dollar General Corp cut its sales and profit forecasts for the year on Thursday as Americans, pinched by higher prices, shopped more for essentials and pared back purchases in categories including home goods and clothes, leading its shares down 14%.

Pharmacy chain Walgreens Boots Alliance to cut corporate jobs by 10%

Walgreens Boots Alliance Inc said on Friday it would slash its corporate staff by about 10%, as it streamlines operations and focuses on consumer-facing healthcare businesses.

Costco Sees Weaker Demand for Discretionary Items

Costco Wholesale‘s third-quarter earnings and sales fell short of expectations, sending the stock lower in after-hours trading.

M&S shares soar as strategy ‘beginning to deliver’

Marks & Spencer said its latest turnaround strategy was starting to deliver, enabling it to restore its dividend and forecast “modest” revenue growth and a profit outcome ahead of market expectations this year, sending its shares 13% higher.

Walmart raises full-year guidance, as earnings beat on boost from grocery and online businesses

Walmart raised its full-year forecast Thursday, as fiscal first-quarter sales rose nearly 8% and its large grocery business helped offset weaker sales of clothing and electronics.

Target tops earnings expectations, even as sales barely budge and consumers watch spending

Target on Wednesday topped Wall Street’s earnings expectations, even as the discounter’s sales barely grew year over year and its shoppers bought more necessities.