Journalist, New York
Phil's Feed
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.

Oct 30, 2013

McDonald’s and Kraft to test grocery coffee sales in 2014

By Phil Wahba and Lisa Baertlein

(Reuters) – McDonald’s Corp (MCD.N: Quote, Profile, Research, Stock Buzz) and Kraft Foods Group Inc (KRFT.O: Quote, Profile, Research, Stock Buzz) plan in 2014 to test sales of McCafe-branded packaged coffees at grocery stores and other retail locations in multiple U.S. markets, the companies said on Wednesday.

The tests will include packages of whole bean and ground coffee as well as “single-cup” options, which typically include K-cups for Green Mountain Coffee Roasters’ (GMCR.O: Quote, Profile, Research, Stock Buzz) popular Keurig brewer. Test markets and pricing were not disclosed.

Oct 30, 2013

Kraft revenue misses on weak Jell-O, mayo sales

By Phil Wahba

(Reuters) – Kraft Foods Group Inc (KRFT.O: Quote, Profile, Research, Stock Buzz) reported lower-than-expected quarterly revenue on Wednesday, hurt by lower prices on some beverages, and by soft sales of mayonnaise, salad dressing and Jell-O desserts.

Net revenue declined 4.2 percent to $4.39 billion, in large part because a year earlier Kraft had higher shipments to retailers ahead of its spin-off from Mondelez International Inc (MDLZ.O: Quote, Profile, Research, Stock Buzz). About 1 percentage point of that was from lower pricing to attract customers.

Oct 16, 2013

EBay holiday quarter outlook disappoints on U.S. weakness

Oct 16 (Reuters) – EBay Inc on Wednesday gave a
disappointing holiday forecast, blaming a weaker U.S.
macroeconomic environment, sending shares down 4.5 percent in
after-hours trading.

The e-commerce company reported a higher third-quarter
profit on Wednesday as consumers made greater use of its PayPal
service.

Oct 14, 2013

Macy’s stores to open on U.S. Thanksgiving for first time

NEW YORK (Reuters) – Macy’s Inc (M.N: Quote, Profile, Research, Stock Buzz) said on Monday that most of its stores will open on the U.S. Thanksgiving Day holiday for the first time in its history, in a sign of how competitive the holiday season is shaping up.

Macy’s will open the doors at most of its 800 namesake department stores, at 8 p.m. on Thursday, November 28. The company said the shift was voluntary for workers and that the move was “consistent” with what many rivals are doing.

Oct 10, 2013

U.S. retailers’ September sales rise modestly, shoppers wary

NEW YORK, Oct 10 (Reuters) – U.S. shoppers remained cautious
in September, gravitating toward bargains as their confidence
took a hit from political strife in Washington and slow job
growth, just weeks ahead of the start of the holiday season.

A group of eight U.S. retailers, excluding drugstores,
reported a 2.2 percent rise in September same-store sales, lower
than the 3.1 percent growth analysts had expected, the Thomson
Reuters same-store sales index showed.

    • 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."
      Joined Reuters:
      2008
      Languages:
      English, French, Spanish, German and Danish.
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