Journalist, New York
Phil's Feed
Apr 23, 2014

Procter & Gamble quarterly profit rises on home care sales

By Phil Wahba

(Reuters) – Procter & Gamble Co (PG.N: Quote, Profile, Research, Stock Buzz), the world’s largest household products maker, reported a higher than expected quarterly profit on Wednesday, helped by an increase in home care products sales and better cost control.

But net sales were unchanged at $20.6 billion, disappointing investors looking for stronger growth. Organic sales, which exclude the impact of divestitures and acquisitions, rose 3 percent.

Apr 17, 2014

Wal-Mart takes on money transfer companies with new service

By Phil Wahba

(Reuters) – Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research) is launching a money transfer service in a direct challenge to the dominance of Western Union Co. and MoneyGram, aiming to broaden the financial services it offers to low-income customers and increase store traffic.

Wal-Mart said on Thursday that Euronet Worldwide Inc’s (EEFT.O: Quote, Profile, Research) Ria Money Transfer subsidiary would begin running the service, called “Walmart-2-Walmart,” next week.

Apr 17, 2014

Wal-Mart takes on Western Union with store-to-store money transfers

By Phil Wahba

(Reuters) – Wal-Mart Stores Inc said on Thursday it was launching a new domestic money transfer service called “Walmart-2-Walmart” in partnership with Euronet Worldwide Inc subsidiary Ria Money Transfer, competing directly with Western Union Co.

Western Union shares were down 7.1 percent in premarket trading, while those of MoneyGram International Inc, which currently provides money transfer services for Wal-Mart, were down 14.6 percent. Euronet was up 4.2 percent.

Apr 17, 2014

Snack sales help PepsiCo beat profit estimates; soda steadies

By Phil Wahba

(Reuters) – PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz) beat profit expectations on Thursday as a booming snacks unit added pep to sales and its struggling North American soda business did better than expected, sending shares up more than 2 percent in premarket trading.

The maker of Pepsi-Cola, Frito-Lay snacks and Tropicana juice said that excluding the impact of currency translation and changes to PepsiCo’s business, quarterly revenue rose 4 percent.

Apr 16, 2014

Analysis – Lululemon’s status as yogawear’s top dog at risk

NEW YORK (Reuters) – Still hurting from last year’s see-through yoga pants debacle, Lululemon Athletica Inc (LULU.O: Quote, Profile, Research) is about to face a new headache: stepped-up competition from rival yoga retailers, department stores and hot new brands.

The company is facing aggressive competition from stores such as Gap Inc’s (GPS.N: Quote, Profile, Research) Athleta, VF Corp’s (VFC.N: Quote, Profile, Research) lucy, Macy’s Inc (M.N: Quote, Profile, Research) and others selling activewear at lower prices at far more locations.

Apr 16, 2014

Lululemon’s status as yogawear’s top dog at risk

NEW YORK (Reuters) – Still hurting from last year’s see-through yoga pants debacle, Lululemon Athletica Inc (LULU.O: Quote, Profile, Research, Stock Buzz) is about to face a new headache: stepped up competition from rival yoga retailers, department stores and hot new brands.

The company is facing aggressive competition from stores such as Gap Inc’s (GPS.N: Quote, Profile, Research, Stock Buzz) Athleta, VF Corp’s (VFC.N: Quote, Profile, Research, Stock Buzz) lucy, Macy’s Inc (M.N: Quote, Profile, Research, Stock Buzz) and others selling activewear at lower prices at far more locations.

Apr 16, 2014

Gap Inc sees China sales tripling to $1 billion in three years

By Phil Wahba

(Reuters) – Gap Inc (GPS.N: Quote, Profile, Research, Stock Buzz) expects its sales in China to triple in the next three years to $1 billion, making the country its second largest market, the retailer said on Wednesday.

Last year, Gap opened 34 namesake stores in China, bringing its total there to 81. It will open about another 30 this year. The company recently opened its first Old Navy store in China.

Apr 10, 2014

Family Dollar, other retailers see shoppers pull back

April 10 (Reuters) – Family Dollar Stores Inc,
seeking to reverse declining sales and profit, said on Thursday
it is slashing prices to win shoppers, cutting jobs, and
shutting hundreds of weak performing stores.

The discount retailer, which caters to lower income
shoppers, many living paycheck to paycheck, reported sales at
stores open at least a year fell 3.8 percent in the quarter
ended March 1. It expects sales to decline this quarter, too.

Apr 10, 2014

Icahn pulls proposal that eBay sell off PayPal

NEW YORK (Reuters) – Activist investor Carl Icahn has dropped his call for eBay Inc to split off its fast-growing PayPal payments unit but has suggested he would keep pressure on the e-commerce company.

EBay said on Thursday that it had settled its proxy fight with the billionaire, who also withdrew his two nominees for the eBay board ahead of the company’s annual shareholder meeting next month.

Apr 10, 2014

EBay, Icahn reach truce

NEW YORK (Reuters) – EBay Inc and Carl Icahn ended their proxy fight on Thursday as the activist investor dropped his proposal that the e-commerce company split off its PayPal payments unit and withdrew his two nominees for the eBay board.

Icahn in January called for the company to hive off its fast-growing PayPal business, arguing the unit is undervalued as part of eBay.

    • About Phil

      "Phil Wahba joined Reuters in 2008 and has covered the exchanges, equity capital markets (IPOs), corporate bankruptcies and now covers retailers such as department stores and booksellers."
      Hometown:
      Montreal
      Joined Reuters:
      2008
      Languages:
      English, French, Spanish, German and Danish.
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