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The Latest Breaking News from Neil Saunders

Nike Earnings Drop, Says Turnaround Will Take Time

Nike reported a drop in profits Tuesday on sagging revenues as the sports giant cautioned that a turnaround from a rocky period would take time under a new CEO. The athletics company's financials showed lower sales in every operating region, as its CFO pointed to lackluster store traffic in China…

International Business Times

It’s hotter than ever but people don’t want ice cream, leaving sweets purveyors struggling

"There's a sweet spot for temperature,” one CEO said—and extreme heat has blown right through it.

Fortune

The Mars-Kellanova merger bolsters them against 2 big threats—inflation and Ozempic

“Snacking is very driven by impulse. It's very driven traditionally, by indulgence,” one analyst said.

Fortune

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Drugstores tinker with new looks as their usual way of doing business faces challenges

America’s drugstores are testing smaller locations and more ways to offer care as more store closings loom

The Independent UK

Etsy plans to test its first-ever loyalty program as it aims to boost sales

Etsy says it will begin testing its first-ever loyalty program in September

The Independent UK

Walmart retools its young adult clothing line in pursuit of fashion credibility

Walmart has spent three years overhauling its mix of adult apparel to make it stylish as well as sensible for middle America

The Independent UK

Parent company of Saks Fifth Avenue to buy rival Neiman Marcus for $2.65 billion,

The parent company of Saks Fifth Avenue has signed a deal to buy upscale rival Neiman Marcus Group, which owns Neiman Marcus and Bergdorf Goodman stores, for $2.65 billion, with online behemoth Amazon holding a minority stake

The Independent UK

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Nike Shares Tumble On Tepid Outlook As CEO Eyes Olympics Marketing Win

Nike reported higher profits due to cost-cutting efforts Thursday, but shares fell sharply on the company's tepid outlook despite a hoped-for boost from the upcoming Olympic Games.

International Business Times

Amazon joins exclusive club, crossing $2 trillion in stock market value for the first time

Amazon has joined the exclusive $2 trillion club after Wall Street investors pushed the value of the e-commerce giant’s stock past that threshold

The Independent UK

Abercrombie’s blowout comeback isn’t just a harbinger for an early aughts craze—it's leading the renaissance for iconic mall-based brands

The retailer once known for toned models and low-rise jeans just notched $1 billion in sales—its best first quarter in the history of the company.

Fortune

Major retailers are offering summer deals to entice inflation-weary shoppers

Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather

The Independent UK

Walmart Profits Rise On Strong Sales From Wealthier Shoppers

Walmart reported higher profits Thursday behind solid gains at US stores as the retail giant pointed to increased purchases by wealthier shoppers and improving e-commerce sales.

International Business Times

Amazon Triples Quarterly Profit As Cloud Surges

E-commerce titan Amazon on Tuesday said profit in the first three months of 2024 tripled as its cloud, ads, and retail businesses thrived.

International Business Times

Swan Song For General Electric As It Completes Demerger

The US conglomerate General Electric, co-founded more than 130 years ago by Thomas Edison, is opening a new chapter in its history on Tuesday: its break-up into three independent entities which will then concentrate on their disparate core businesses.

International Business Times

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Salon

How dollar stores link to food deserts

“Dollar stores are now the fastest-growing food retailers in the contiguous United States"

WEKU

Dollar Tree to close nearly 1,000 stores as it posts a fourth quarter loss

Dollar Tree plans to close about 600 Family Dollar stores in the first half of this year and 370 Family Dollar and 30 Dollar Tree stores over the next several years.

International Business Times

After Uproar, Wendy's Says It Won't Raise Burger Prices At Peak Times

Restaurant chain Wendy's said Wednesday it will not raise prices for hamburgers and other items at peak times, clarifying recent comments that sparked criticism of the fast-food company.

International Business Times

Walmart Says It Will Buy TV Maker Vizio For $2.3 Bn

Walmart announced Tuesday it will buy smart television maker Vizio for $2.3 billion, boosting the retail giant's advertising venture as growth slows in its legacy business from the pandemic boom.

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Latin Times

US Holiday Sales Growth Estimated At 3.1%: Mastercard

The growth in this year's holiday sales is below 2022 holiday season sales increase of 5.3 percent and much below the 2021 figure of 14.1 percent, according to NRF data.

International Business Times

US Holiday Sales Growth Estimated At 3.1%: Mastercard

Preliminary shopping data indicated that US holiday sales increased 3.1 percent compared with the year-ago period, a solid but unspectacular increase reflecting mixed sentiment on the economy.

Latin Times

Tesla Files Recall On 2 Mn Vehicles To Fix Autopilot Software

In cases where vehicle operators misuse Tesla's driver-assistance program or fail to recognize when the system won't work well, "there may be an increased risk of a collision," said a notice from the US National Highway Traffic Safety Administration.

International Business Times

Tesla Files Recall On 2 Million Vehicles To Fix Autopilot Software

Electric car maker Tesla has initiated a recall of over two million vehicles in the United States due to a risk linked to its autopilot software, the US traffic safety regulator said Wednesday.

International Business Times

US Economic Uncertainty Means Bigger 'Black Friday' Discounts

The retail sector's efforts to entice holiday gift purchases builds to a crescendo this weekend with the annual "Black Friday" shopping day followed by the newer "Cyber Monday."

Fortune

Stephanie Linnartz ended a successful run at Marriott to become CEO at struggling Under Armour. ‘I believe in taking calculated risks’

Linnartz hopes to turn around a company hurt by slumping growth and controversies surrounding its founder.

Chicago Sun-Times

Rosalind Brewer out as Walgreens CEO

Her departure after less than three years comes after a tumultuous time that included COVID-19 disruptions and corporate layoffs.

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