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Nov 13, 2013

Macy’s sales rise more than expected; shares jump

By Phil Wahba

(Reuters) – Macy’s Inc (M.N: Quote, Profile, Research, Stock Buzz) on Wednesday reported higher-than-expected quarterly sales and earnings, helped by more promotions, and the department store chain said business was improving as the holidays near.

Shares of Macy’s rose 9 percent to $50.48 in morning trading on relief that the retailer was back on track after posting disappointing sales in August for the prior quarter.

Nov 11, 2013

Analysis: U.S. retailers tread tight path in shortened holiday race

NEW YORK (Reuters) – U.S. retailers have little room for error in the fast-approaching and shortened holiday shopping season, a period that typically generates 30 percent of annual sales.

A late Thanksgiving – the unofficial kickoff for holiday sales – has lopped six days off the gift-buying season.

Nov 11, 2013

U.S. retailers tread tight path in shortened holiday race

NEW YORK, Nov 11 (Reuters) – U.S. retailers have little room
for error in the fast-approaching and shortened holiday shopping
season, a period that typically generates 30 percent of annual
sales.

A late Thanksgiving – the unofficial kickoff for holiday
sales – has lopped six days off the gift-buying season.

Nov 7, 2013

Penney monthly same-store sales rise for first time since 2011

By Phil Wahba

(Reuters) – J.C. Penney Co Inc (JCP.N: Quote, Profile, Research, Stock Buzz) on Thursday reported its first monthly same-store sales gain in nearly two years on the back of deep discounts and the decision to resume stocking merchandise that the retailer’s long-time shoppers liked.

Shares were up 4.9 percent to $8.08 in premarket trading after the company said comparable sales rose 0.9 percent in October.

Nov 7, 2013

U.S. retailers’ October sales rise, but holiday concerns remain

By Phil Wahba

(Reuters) – Costco Wholesale Corp and Victoria’s Secret parent L Brands Inc were among the major U.S. retailers to report same-store sales gains for October, but the outlook remained downbeat heading into the holiday season.

Costco on Thursday reported a slightly bigger-than-expected 3 percent gain in sales at stores open at least a year. Fresh food was among its best-selling categories, and consumer electronics was the weakest.

Nov 6, 2013

Whole Foods lowers sales forecast on price cuts

Nov 6 (Reuters) – Whole Foods Market Inc on
Wednesday lowered its sales forecast for fiscal 2014, citing
price cuts to keep up with competitors, and shares fell 9.5
percent in after-hours trading.

Expectations were high ahead of the company’s fiscal
fourth-quarter report, in part because the upscale grocer’s
sales trends tend to mirror those of Starbucks Corp,
which reported strong results for the latest quarter.

Nov 6, 2013

Ralph Lauren sees sales gains in holiday quarter, raises dividend

By Phil Wahba

(Reuters) – Ralph Lauren Corp (RL.N: Quote, Profile, Research, Stock Buzz) on Wednesday raised the low end of its full-year sales forecast on expectations of strong gains during the holiday quarter, and the designer clothing company increased its dividend.

Shares of Ralph Lauren rose 3.7 percent to $177.57 in morning trading.

Sales were strongest at Ralph Lauren’s own stores, which generate just under half of companywide sales and where revenue rose 6.5 percent, stripping out currency fluctuations.

Nov 5, 2013

CVS Caremark raises outlook, sees exchanges helping in 2014

By Phil Wahba

(Reuters) – CVS Caremark Corp raised its profit forecast for the year on Tuesday, as sales grew at its drugstore chain and it processed more prescriptions from new clients.

The company also said it expects private health insurance exchanges to help business next year.

Oct 31, 2013

Avon third-quarter revenue slides as turnaround stalls; shares drop

By Phil Wahba

(Reuters) – Avon Products Inc (AVP.N: Quote, Profile, Research, Stock Buzz) posted weaker-than-expected quarterly results on Thursday, on another big sales drop in North America and weakness in growing markets like Mexico and Russia, stalling the beauty company’s turnaround.

Avon shares dropped 15.1 percent to $19 in premarket trading.

Revenue fell 7 percent to $2.26 billion while Wall Street analysts expected $2.44 billion, according to Thomson Reuters I/B/E/S.

Oct 31, 2013

Avon Q3 revenue slides as turnaround stalls; shares drop

Oct 31 (Reuters) – Avon Products Inc posted
weaker-than-expected quarterly results on Thursday, on another
big sales drop in North America and weakness in growing markets
like Mexico and Russia, stalling the beauty company’s
turnaround.

Avon shares dropped 15.1 percent to $19 in premarket
trading.

Revenue fell 7 percent to $2.26 billion while Wall Street
analysts expected $2.44 billion, according to Thomson Reuters
I/B/E/S.

    • 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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