Latest Financial performance News
US home sales fell in August despite easing mortgage rates, more homes on the market
LOS ANGELES (AP) — Sales of previously occupied U.S. homes fell in August to the slowest annual pace in nearly a year even as mortgage rates eased and the supply of properties on the market continued to rise. Existing home sales fell 2.5% last month, from July, to a seasonally...
The Federal Reserve is finally lowering rates. Here's what consumers should know
NEW YORK (AP) — The Federal Reserve has cut its benchmark interest rate from its 23-year high, with consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses. On Wednesday, the Fed announced that it reduced its key rate by an...
McDonald's extends $5 deal through December to keep customers coming
McDonald’s is extending its $5 value meal until December at most U.S. stores, a move that rivals are likely to follow. McDonald’s introduced the deal in June after a disappointing first quarter that saw fewer U.S. visits and lower spending per order, particularly from customers...
LL Flooring reverses course and will keep hundreds of stores under new owner
NEW YORK (AP) — After securing a last-minute buyer, LL Flooring is reversing course on shutting down all of its stores. The hardwood flooring retailer formerly known as Lumber Liquidators signed an agreement with private equity firm F9 Investments for a sale of its business on...
LL Flooring, formerly Lumber Liquidators, is going out of business and closing all of its stores
NEW YORK (AP) — LL Flooring, the hardwood flooring retailer formerly known as Lumber Liquidators, is going out of business. Less than a month after filing for Chapter 11 bankruptcy protection, the Virginia-based company says it is now “winding down operations" after failing to...
The Nordstrom family teams up with a Mexican retail group to bid for its namesake retailer
NEW YORK (AP) — Members of the Nordstrom family with the help of a Mexican retail group are offering to take the century-old department store private for $3.76 billion, months after first expressing interest in a buyout. In a letter to the board of directors dated Tuesday, Erik...
Atlantic City casino earnings declined by 1.3% in 2nd quarter of 2024
ATLANTIC CITY, N.J. (AP) — Atlantic City's casinos and two internet-only gambling entities saw their collective earnings decline by 1.3% in the second quarter of 2024 compared with the same period a year earlier, state gambling regulators said Thursday. Figures released by the New...
US home sales ended a 4-month slide in July amid easing mortgage rates, more homes on the market
LOS ANGELES (AP) — Sales of previously occupied U.S. homes ended a four-month slide in July as easing mortgage rates and a pickup in properties on the market encouraged home shoppers. Existing home sales rose 1.3% last month from June to a seasonally adjusted annual rate of 3.95...
A tale of two retailers: Target reverses sales slump while Macy's reports another quarterly decline
NEW YORK (AP) — Grocery aisle deals and an emphasis on affordable but stylish clothes helped Target reverse a year-long sales slump, while Macy’s on Wednesday reported another quarterly decline and said sales for the fiscal year will be weaker than expected due to a “more discriminating...
Macy's swings to a second quarter profit, but sales surprisingly weak as customers grow cautious
NEW YORK (AP) — Macy's swung back to a profit in its second quarter but suffered yet another sales decline as inflationary weary shoppers rein in spending, with their focus increasingly on buying the essentials. The company, which also operates upscale Bloomingdale's stores and...
