Technology Will Force Tax Managers to Up Their Game

Advancements in robotic process automation, machine learning, and artificial intelligence are expected to displace tens of millions of people worldwide from their jobs over the next decade. Among the groups of workers that may worry about that are corporate tax professionals.After all, tax is a h...

By David McCann • June 8, 2017

Duluth Holdings Shares Slump on Earnings Miss

Shares in Duluth Holdings dropped sharply after the casual wear company reported lower-than-expected earnings amid heavy spending on new stores, marketing and advertising.For the first quarter, Duluth’s net income dropped 88% to $415,000, or $0.01 per share, well shy of the $0.05 per share that W...

By Matthew Heller • June 8, 2017

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Tax policy shifts: What CFOs need to know to stay ahead

Discover how evolving tax policies are creating new opportunities and challenges for CFOs.

By CFO.com staff

Dave & Buster’s Tops Estimates on Gaming Gains

Dave & Buster’s continued to defy the restaurant industry’s doldrums, reporting better-than-expected earnings for the first quarter amid another strong performance from its high-tech arcade gaming.The chain of “eatertainment” restaurants said Tuesday that it posted net income of $42.8 million...

By Matthew Heller • June 7, 2017

CFO Economics of Climate Change

There is a vast difference of opinion on whether President Trump’s decision to withdraw the U.S. from the Paris Climate Agreement will be good, bad, or indifferent for the planet. Regardless of the answer, businesses have similar decisions to make regarding climate change: What risks does climate...

By Kerry Maruna • June 7, 2017

Lands’ End Loss Widens But Comp Sales Rise

Lands’ End’s first-quarter loss widened and revenue dropped for the 11th straight quarter but the struggling apparel retailer pointed to positive same-store sales as a sign of a turnaround.For the quarter ended April 28, Lands’ End posted a net loss of $7.8 million, or $0.24 per share, compared w...

By Matthew Heller • June 6, 2017

Don’t Be Held For Ransomware

If there’s a positive spin that can be placed on last month’s ransomware attacks, it’s that the topic of cybersecurity has finally emerged from the shadows and into the public eye. When 200,000 systems began to be infected across more than 150 countries on May 12, security became not just a matte...

By Kelly Bissell • June 6, 2017

Managements’ Estimate Biases Targeted by Two PCAOB Proposals

Amid the abundant press coverage of the Public Company Accounting Oversight Board’s approval last week of the first major changes in the auditor’s report in 70 years, news of two PCAOB proposals launched at the same time might well have been overlooked.Lewis H. Ferguson Aimed at minimizing the ef...

By David Katz • June 5, 2017

HPE’s Enterprise Revenue Slumps 13% in Q2

It may take longer than expected to turn Hewlett Packard Enterprise into the high-flying, high-end computing equipment company that CEO Meg Whitman has envisioned.For the second quarter, HPE reported revenue of $9.9 billion, beating analysts’ expectations of $9.64 billion. Excluding one-time item...

By Matthew Heller • June 2, 2017

PCAOB OKs First Big Change to Audit Report in 70 Years

Worrisome matters reported by an auditor to a board audit committee would be disclosed in the auditor’s report under a new standard approved Thursday morning by the Public Company Accounting Oversight Board.Chairman James R Doty James R. DotyAlthough the standard would retain the current pass/fai...

By David Katz • June 1, 2017

Box Q1 Revenue Hits Record, Beats Estimates

Cloud content management service Box Inc.’s top and bottom lines beat Wall Street expectations for the first quarter, sending its stock up sharply in after-hours trading.Box’s revenue reached a record $117.2 million, an increase of 30% from the year-ago period, while billings increased 31% to $99...

By Matthew Heller • June 1, 2017

Three Key Questions About Corporate Tax Reform

As discussions about corporate tax reform continue to take place on Capitol Hill and in the Treasury Department, the one thing that remains true after many months of talks is that the outcome remains highly uncertain.Heléna Klumpp Three key questions have emerged about the impact of reform on U.S...

By Heléna M. Klumpp • May 31, 2017

Appian Joins Enterprise Tech IPO Parade

Enterprise software developer Appian raised $75 million in its initial public offering, with the stock rising as much as 36% in its first day of trading.The enterprise technology space has been heating up after a dearth of IPOs in 2016. Companies including Cloudera, MuleSoft, Yext, Okta, and Alte...

By Matthew Heller • May 26, 2017

Sears Swings to Profit But Sales Slide Continues

Sears Holdings’ cost-cutting helped drive it to a first quarterly profit in nearly two years but the sales picture remained bleak, suggesting a turnaround is still a long way off.The retailer on Thursday reported $244 million, or $2.28 per share, in net income attributable to Sears’ shareholders ...

By Matthew Heller • May 26, 2017

Lowe’s Shares Drop 3% on Q1 Earnings Miss

Lowe’s Companies shares fell after the home improvement retailer reported disappointing quarterly earnings, with same-store sales growth coming in below rival Home Depot.For the first quarter, Lowe’s posted net income of $602 million, or 70 cents per share, down from $884 million, or 98 cents per...

By Matthew Heller • May 25, 2017

Best Buy Shares Rise 21% on Big Q1 Sales Beat

Best Buy reported a surprising quarterly increase in same-store sales, sending its stock to an 11-year high and suggesting that it is putting together an effective response to online competition.The electronics retailer had warned in March that comparable sales could fall by 1% to 2% during the f...

By Matthew Heller • May 25, 2017

Special Report: New Hope for Health-Care Costs

It appears that, at least in the short and medium terms, the only thing that could at long last bring the rate of health-cost inflation below the general inflation rate would be a drastic jump in the latter.The health-care costs trend has moderated markedly in recent years, compared with the out-...

By David McCann • May 25, 2017

AutoZone Shares Dive 11% on Earnings Miss

AutoZone reported significantly weaker-than-expected quarterly revenue and profit, sending its stock to its biggest-ever price decline.The auto parts retailer said Tuesday that third-quarter net income rose to $331.7 million, or $11.44 a share, from $327.5 million, or $10.77 a share, in the same ...

By Matthew Heller • May 24, 2017

Precise Earnings Forecasts May Be Smokescreens

Research has consistently shown precise-sounding forecasts to have strong impacts, both in bolstering the self-image of those who make them and in impressing those to whom they are made.Still, precision would seem hazardous for corporate executives when forecasts are as keenly scrutinized as thos...

By David McCann • May 24, 2017

Tax Compliance Toughens for Intercompany Transactions

As the new administration’s trade policies come into clearer focus, it is obvious that some changes are underway. Actions by the Trump administration could redirect trade flows and incite an all-out trade war. Retaliatory actions by foreign countries could alter the regulatory landscape, leading ...

By Therese Tucker • May 23, 2017

Deere Beats Estimates With $802M Profit in Q2

John Deere posted a bigger-than-expected second-quarter profit and its first sales increase in 13 quarters, apparently confirming its view that key markets for its farm equipment are stabilizing.For the first quarter, the world’s largest farm-equipment manufacturer earned a profit of $802.4 milli...

By Matthew Heller • May 22, 2017

Trump’s Tax Cuts Would Offset Interest-Rate Hikes

With a second 2017 interest-rate hike expected in June, businesses are beginning to assess the impact on their current and future debt. The cost of borrowing, however, will have a lesser impact on companies’ bottom lines than the potential boost from a sharp reduction in the U.S corporate tax rat...

By William Fink • May 22, 2017

CFOs Delaying Investments Until After 2016 Presidential Election (Video)

John Graham of Duke University discusses the results of the third quarter’s Duke University/CFO Global Business Outlook Survey.

By CFO Editorial Staff • May 19, 2017

Perspectives on President Trump’s Policy Proposals (Video)

The first-quarter Duke University/CFO Global Business Outlook survey found that among CFOs whose companies are headquartered in the U.S., more than half are not in favor of some of the president’s proposed reforms.Just over half, 55%, say that a proposed 20% border tax — a value-added tax levied ...

By CFO Editorial Staff • May 19, 2017

40 Companies Unite to Rein in Health Costs

A new, 40-company cooperative, representing perhaps the most aggressive attempt to date to curb health-care costs through concerted action, appears to be off to a solid start.The Health Transformation Alliance (HTA) has negotiated contracts with two pharmacy benefits managers (PBMs), CVS Health a...

By David McCann • May 19, 2017

SEC’s Non-GAAP Guidance Should Be Withdrawn

Let’s say an analyst who is reporting on a computer retailer wants to calculate a basic turnover ratio: sales/average inventory. Typically, the analyst must utilize sales and inventory amounts from company financial statements to calculate this ratio. But the numerator, sales, presents a major pr...

By Charles Lundelius • May 19, 2017