Macy’s Shares Fall 13% on Big Earnings Miss
Same-store sales improved in the second quarter but profit was hit by heavy markdowns to clear unsold merchandise.
Ex-Salix CFO Fined $1M for Misstating Inventory
The SEC says Adam Derbyshire failed to disclose high wholesaler inventory levels of Salix's drugs resulting from its practice of overselling demand.
Where Home Sales Go From Here Is Anyone’s Guess
Higher borrowing costs are starting to offset the effects of a strong economy, but house prices are still rising.
Kohl’s Beats Estimates With 3.1% Sales Gain
The retailer benefited in Q2 from the closures of rival department stores and its efforts to downsize its own locations.
J.C. Penney Reports Sizable Net Loss, Slashes Guidance
J.C. Penney has moved from "buying to store capacity" to "buying and chasing" into demonstrated sales trends, says CFO Jeffrey Davis.
U.S. GDP Revised Down to 2.2%
A weaker inventory buildup than first estimated could bode well for second-quarter gross domestic product numbers.
GM Loses $4.9B in Q4 But Beats Estimates
The automaker's operating results were "very strong, and actually great" in the quarter and for the full year, CFO Chuck Stevens says.
Sales Rebound Drives JC Penney Stock up 14%
Penney's surprising 1.7% gain in same-store sales indicates its "strategy of purging excess inventory and closing underperforming stores" is paying off.
JC Penney Stock Dives 14% on Q3 Loss Warning
The struggling retailer now projects a loss of between 40 cents to 45 cents a share due to clearance of apparel inventory.
Lower Inventory Boosts Ralph Lauren Profit
The company has been he company has been keeping a "razor-like focus" on its inventory amid sluggish sales and online competition.
GM Profit Drops 42% But EPS Beats Estimates
“Strong results in North America and China, solid improvement in South America and continued growth of GM Financial drove another strong quarter."