Latest Financial performance News
Holiday shoppers increased spending by 3.8% despite higher prices
Sales rose this year during the holiday shopping season even as Americans wrestled with elevated prices for many groceries and other necessities, according to new data. Holiday sales from the beginning of November through Christmas Eve climbed 3.8%, outpacing the 3.1% increase from a...
The Container Store, buffeted by rough housing market and competition, seeks bankruptcy protection
NEW YORK (AP) — The Container Store has filed for bankruptcy protection as the storage and organizational goods retailer with roots dating back to the 1970s grapples with mounting losses and cash flow shortages. The Texas company has faced increasing competition from retailers like...
A shake-up at one of world's biggest frozen French fry makers
A major supplier of frozen French fries to global chains like McDonald’s, KFC and Taco Bell, has named a new CEO after posting a surprise loss in the second quarter as consumers pull back on the money they spend on food outside the home. But struggles at the Lamb Weston, which...
US home sales hit fastest pace since March with more properties up for sale
Sales of previously occupied U.S. homes rose in November to their fastest pace since March with home shoppers encouraged by a wider selection of properties on the market, even as mortgage rates mostly ticked higher. Existing home sales rose 4.8% last month, from October, to a...
The US egg industry kills 350 million chicks a year. New technology offers an alternative
WILTON, Iowa (AP) — Every year the U.S. egg industry kills about 350 million male chicks because, while the fuzzy little animals are incredibly cute, they will never lay eggs, so have little monetary value. That longtime practice is changing, thanks to new technology that enables...
Capybaras take their turn as the holiday season's 'it' animal
ST. LOUIS (AP) — The world’s largest rodent is having a big moment. The capybara – a semi-aquatic South American relative of the guinea pig -- is the latest in a long line of “it” animals to get star treatment during the holiday shopping season. Shoppers can...
Macy's tightens financial controls after employee covered up what became a $151 million mistake
NEW YORK (AP) — Macy's said Wednesday that it has tightened internal financial accounting measures after completing a probe of a rogue employee who hid $151 million in delivery expenses over a span of nearly three years. A probe into the coverup forced Macy’s to postpone the...
AT&T sees earnings growth over next 3 years; eyes more than $40B in anticipated shareholder returns
AT&T anticipates earnings growth over the next three years thanks to the momentum of 5G and fiber services. The company also announced Tuesday that it expects its improved financial performance to support more than $40 billion of anticipated shareholder returns through dividends...
After fast start, electric cars need a recharge as range limits, cost leave some drivers skeptical
DETROIT (AP) — While sales of electric vehicles surge in China, adoption of more environmentally friendly vehicles is stumbling in the United States and Europe as carmakers and governments struggle to meet years-old promises about affordability and charging stations. Adding to...
Best Buy posts another quarterly sales drop while Kohl's sees slump deepen
NEW YORK (AP) — Best Buy, the nation’s largest consumer electronics chain, reported another quarterly drop in sales as Americans continued to tighten their purse strings on appliances and gadgets to focus on essentials. The Richfield, Minnesota-based retailer lowered its annual...
