• Strong U.S. economy boosts Walmart's third-quarter sales

    1 month ago - By Reuters

    Walmart Inc reported higher-than-expected quarterly U.S. comparable sales on Thursday and raised its full year outlook as a strong economy boosted customer store visits and e-commerce purchases grew as it sold more groceries online.
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  • JC Penney withdraws profit guidance, cuts sales outlook

    1 month ago - By Chron

    PLANO, Texas - Shares of J.C. Penney plunged before the opening bell after the company withdrew profit guidance and lowered its sales expectations for the year.
    Sales at stores open at least a year, a key gauge of a retailer's health, declined 5.4 percent. Analysts were calling for a 0.5 percent decline, according to FactSet.
    The numbers were bad even in the context of a company long up against the ropes.
    "To deliver a comparable sales decline of 5.4 percent is poor," wrote Neil Saunders, managing director of GlobalData Retail. "To do it at a time when consumer confidence and spending are...
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  • J.C. Penney close to 'penny stock' status after poor third quarter

    1 month ago - By Reuters

    J.C. Penney Co Inc withdrew its annual earnings forecast on Thursday, adding to nerves about the future of another one of America's best known retail names ahead of the crucial holiday selling season.
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  • Walmart beats on earnings and raises guidance as online sales soar

    Walmart beats on earnings and raises guidance as online sales soar

    1 month ago - By Business Insider

    Walmart beat on profits but missed on sales in the third quarter.
    The retailer also boosted its full-year earnings guidance.
    Watch Walmart trade in real time here.
    Walmart on Thursday reported better-than-expected profits and raised full-year guidance, sending shares up 1.42% before the opening bell.
    The retailer posted adjusted earnings of $1.08 a share, edging out the $1.01 that was expected by analysts surveyed by Bloomberg. But its bottom line came in at $124.9 billion, missing the $125.5 billion that was estimated.
    Meanwhile, its US same-store sales excluding fuel increased 3.4% and...
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  • Things Get Worse for J.C. Penney as Stock Plunges to New Depths

    1 month ago - By Fortune

    J.C. Penney is bucking the retail industry trend, but not in the good way.
    The struggling department store chain reported that comparable sales fell 5.4% in the third fiscal quarter, far worse than the 0.8% declined analysts expected according to Consensus Metrix, and a disastrous result in a strong consumer spending environment. The results are all the more disappointing given the closing in the last year of dozens of Sears stores that would, in theory, offer J.C. Penney some market share growth opportunity. Penney also report a loss of $151 million.
    The results sent shares down 12% to...
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  • J.C. Penney cuts sales forecast after poor third quarter, shares dive

    1 month ago - By Reuters

    J.C. Penney Co Inc cut its forecast for annual sales on Thursday while also withdrawing its outlook for full-year earnings, adding to nerves over the future of another one of America's best known retail names.
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