Correspondent, Consumer Products & Retail
Jessica's Feed
Aug 21, 2013
Aug 21, 2013

Target warns on annual profit, cites cautious shoppers

By Jessica Wohl

(Reuters) – Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz) warned on Wednesday its annual profit was likely to be near the low end of its forecast as it anticipated continued cautious consumer spending, the latest retailer to signal U.S. shoppers were holding back.

Target’s second-quarter profit came in just ahead of expectations while sales missed estimates. The Canadian business is costing more than Target anticipated and will weigh on full-year profit.

Aug 21, 2013
Aug 20, 2013

Barnes & Noble chairman halts plan to buy stores as sales slide

By Jessica Wohl and Phil Wahba

(Reuters) – Barnes & Noble Inc’s (BKS.N: Quote, Profile, Research) founder and largest shareholder on Tuesday suspended his plan to buy the bookseller’s stores, dashing investor hopes for a deal as the company again reported poor quarterly results.

B&N shares fell 15 percent to $14.17 (9.04 pounds), their lowest level since February, when Leonard Riggio, who is also chairman, said he planned to make an offer for B&N’s retail business.

Aug 20, 2013

Barnes & Noble founder halts plan to buy stores; loss widens

By Jessica Wohl

(Reuters) – Barnes & Noble Inc’s founder on Tuesday pulled the plug on his plan to buy the company’s bookstores and the chain posted a deeper quarterly loss, sending its shares down as much as 16 percent in early trading.

The quarterly results came in slightly ahead of Wall Street expectations, but sales of B&N’s Nook device and e-books plunged, and business at its stores slumped.

Aug 20, 2013
Aug 19, 2013
Aug 8, 2013
Aug 8, 2013
Aug 8, 2013

Elizabeth Arden results, forecasts well below estimates

By Jessica Wohl

(Reuters) – Elizabeth Arden Inc (RDEN.O: Quote, Profile, Research, Stock Buzz) on Thursday turned in much weaker results and forecasts than expected, as an unnamed retailer ordered less than planned and the beauty products company struggled to make over its namesake brand.

Adjusted earnings in the fiscal fourth quarter were less than one-third of analysts’ target, ending what Arden Chief Executive E. Scott Beattie called a “transitional year.”