Latest Financial performance News
Japan's Kojima, with its proud Jeans Street, draws fans of vintage, deep-blue denim
KOJIMA, Japan (AP) — Denim, that All-American fabric, is all about being Japanese in the town of Kojima, where the main road is named Jeans Street, with real pairs of pants flapping like flags overhead. Some would call this spot in southwestern seaside Okayama Prefecture a mecca of...
Nike's quarterly sales and profits slump as it faces shoppers' sluggish demand for its products
NEW YORK (AP) — Nike sales and profits slumped in its fiscal first quarter as the sportswear giant wrestles with shoppers' sluggish demand for new sneaker models and other products. The lackluster results Tuesday came after Nike announced last month that its CEO, John Donahoe, is...
Carmaker Stellantis slashes forecasts as it faces industry slump and Chinese competition
MILAN (AP) — Carmaker Stellantis, the world’s fourth largest carmaker, slashed its earnings forecast on Monday, citing investments to turn around its U.S. operations amid a wider industry slump and increased Chinese competition. Stellantis said it was accelerating efforts to turn...
Struggling Jeep and Ram maker Stellantis is searching for an new CEO
DETROIT (AP) — Struggling Jeep and Ram maker Stellantis is looking for a CEO to succeed Carlos Tavares, but the company says it's just part of a normal leadership succession plan. Tavares has been under fire from U.S. dealers and the United Auto Workers union after a dismal...
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...
