Wal-Mart Posts Another Gain in Comp Sales

Wal-Mart Stores reported same-store sales growth for the eighth quarter in a row and blew past earnings estimates, generating a solid return on its investment in revamping stores and changing the merchandise mix.The world’s biggest retailer earned $3.8 billion in the second quarter, up 8.6% from ...

By Matthew Heller • Aug. 19, 2016

Cos. Don’t Meld Accounting for Internal Transactions: Poll

Under 10% of nearly 4,000 mostly accounting and finance professionals say their organizations coordinate how their internal transactions are accounted for, according to to a recent Deloitte poll, indicating a lack of holistic, efficient, and well-communicated intercompany accounting frameworks at...

By David Katz • Aug. 18, 2016

Explore the Trendline➔

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

Missing Forecasts Is Better Than Making Bad Decisions

It can be tempting for CFOs to overly look to forecasts when pressed to make important financial decisions. After all, projects based on new information can change budgets substantially in real time.Henri Steenkamp However, a CFO should not react to every short-term event or change to the numbers...

By Henri Steenkamp • Aug. 18, 2016

Office Depot Breakup Bites Into Staples Earnings

Staples posted lower-than-expected sales and swung to a loss in a quarter during which it closed stores as part of a new strategic plan.Both Staples and smaller rival Office Depot have been restructuring in the wake of the collapse of their proposed merger. While Office Depot benefited in its sec...

By Matthew Heller • Aug. 18, 2016

New Money Fund Regs May Require Enhanced Disclosures

Corporations that heavily rely on money funds for cash management may need to enhance disclosures and risk management in light of upcoming money fund reform, according to a report from Fitch Ratings.Regulatory changes to money funds coming into effect on October 14 are expected to cause some U.S....

By Vincent Ryan • Aug. 17, 2016

Home Depot Surges to Record Earnings in Q2

Home Depot posted record quarterly sales and profits on Tuesday, riding the tailwind of continuing strength in the U.S. housing market.For the second quarter, the retailer’s profits rose nearly 14% to $2.44 billion, or $1.97 a share, while revenue climbed 6.6% to $26.47 billion. Analysts polled b...

By Matthew Heller • Aug. 16, 2016

AR/VR Market to Grow to $162 Billion in 2020

A new report from International Data Corp. suggests the current craze over Pokémon Go may be only a taste of things to come.The research firm is predicting that worldwide revenues for the augmented reality and virtual reality (AR/VR) market will grow from $5.2 billion in 2016 to more than $162 bi...

By Matthew Heller • Aug. 16, 2016

CFO Week in Review

In case you missed them, CFO offers the week’s most read stories.How Fragmentation is Killing Employee EngagementFragmentation of roles leads to employees’ lack of ownership and a quiet acceptance of things-as-they-are.How the Cloud is Unlocking the Predictive Power of Tax DataSome of the sexier ...

By Kerry Maruna • Aug. 13, 2016

What’s Next for Cloud Computing?

Cloud-based computing is having a significant impact on how finance departments, and companies in general, are leveraging data. The cloud has the power to tap into transaction data to power larger predictive analytics and corporate intelligence initiatives. Here are five articles covering recent ...

By CFO Editorial Staff • Aug. 13, 2016

J.C. Penney Keeps Up Same-Store Sales Growth

J.C. Penney’s second-quarter loss narrowed and same-store sales increased 2.2%, continuing a steady improvement in its performance as its turnaround plan gains traction.The retailer on Friday reported a loss of $56 million, or 18 cents per share, down from $117 million (41 cents a share) in the y...

By Matthew Heller • Aug. 12, 2016

Macy’s Shares Rise 17% on Store Closure Plan

Macy’s shares surged more than 17% on Thursday after the struggling retail giant announced better-than-expected second-quarter results and that it would close 100 stores, representing about 15% of its locations.Most of the stores to be closed were underperformers or in weak locations, but Macy’s ...

By Matthew Heller • Aug. 11, 2016

SunPower Takes Heat for Surprise Loss Outlook

SunPower’s shares took a beating after the solar panel company announced it was expecting a loss of up to $175 million this year and would cut about 15% of its workforce.For the second quarter, SunPower posted a lower-than-expected loss of $70 million, or 51 cents a share, on $420 million in reve...

By Matthew Heller • Aug. 11, 2016

Wendy’s Same-Store Sales Growth Falls to 0.4%

Wendy’s Co. on Wednesday reported disappointing same-store sales growth, but revenue beat expectations and the company said its move to a franchised model is boosting earnings.The burger chain’s same-store sales for North America rose 0.4% in the second quarter, well below predictions of a 1.9% g...

By Matthew Heller • Aug. 10, 2016

Does the Earnings Stripping Regulation Remove Too Much?

Multinational corporations have long used earnings stripping as a way to reduce their corporate taxes by making interest deductions to a foreign headquarters in a friendly tax regime. Now, this longstanding practice is in the crosshairs of the U.S. Treasury Department, which has proposed rules gi...

By Therese Tucker • Aug. 10, 2016

World Taxing Authorities Prepare to Attack

Global tax policy has evolved dramatically, with multinational corporations coming under attack from all directions. To respond to budget deficits and economic austerity, worldwide taxing authorities are deploying a new weapon: information exchange. As MNCs struggle to remain compliant and compet...

By Kevin Spencer, Cym Lowell, and Denise Mudigere • Aug. 9, 2016

How the Cloud is Unlocking the Predictive Power of Tax Data

Corporate finance and tax professionals can be forgiven for letting their eyes glaze over when conversation turns to cloud-based technology. Call it cloud fatigue, the result of seeing an endless succession of conference tracks and news articles about how cloud-based technologies will improve eff...

By Brian Peccarelli • Aug. 8, 2016

Send in the Robots

 Robots are poised to take over some routine finance functions, such as processing transactions, as well as more advanced tasks such as risk analysis. Here are five articles taking a look at how artificial intelligence can impact the finance team.Will Machines Take Over Finance?A lot of “knowledg...

By CFO Editorial Staff • Aug. 6, 2016

QVC Parent’s Stock Plunges on ‘Choppy’ Outlook

Shares in Liberty Interactive Corp. fell more than 21% to a 52-week low on Friday after the owner of the QVC shopping network reported it had begun to experience “significant headwinds” in the U.S.For the second quarter, Liberty said revenue jumped 21% to $2.42 billion year-over-year, matching an...

By Matthew Heller • Aug. 5, 2016

CFOs on the Move: Week Ending August 5

Gregory Gutting has been promoted to the top finance spot at Erie Indemnity. He had been interim CFO since last October.GoDaddy has named Ray Winborne to lead the finance function, effective after the company files its Form 10-Q for the period ended June 30. He takes over for Scott Wagner, who ha...

By Joan Urdang • Aug. 5, 2016

Brexit: CFOs Should ‘Keep Calm and Carry On’

The United Kingdom’s surprise vote to exit the European Union has put the world into a state of agitation.What should CFO’s of businesses operating in the United Kingdom and the European Union do to mitigate the trading and tax change risks of Brexit?Scott McFarlane The vote on 23 June was stunni...

By Scott McFarlane • Aug. 5, 2016

HSBC Profits Fall 29% But Stock Climbs 4.8%

HSBC reported that first-half profits dropped almost 29% but soothed investors by announcing a share buyback of up to $2.5 billion in the second half of this year.For the first six months of 2016, Europe’s largest bank logged a pre-tax profit of $9.71 billion, down from $13.62 billion in the same...

By Matthew Heller • Aug. 4, 2016

‘Shareholder Value’ for Private Companies

Most people think about public companies when they consider “shareholder value” principles. That’s because public companies have quoted share prices and should develop and execute strategies designed to grow the share price over the long term. Yet although private companies don’t have quoted shar...

By Gregory V. Milano • Aug. 4, 2016

Office Depot Posts 3rd Straight Earnings Miss

Office Depot on Wednesday posted lower-than-expected earnings for a third straight quarter but its shares rose more than 5% as the company announced more store closings.For the second quarter, Office Depot earned $210 million, or 38 cents a share, compared with a year-earlier loss of $58 million,...

By Matthew Heller • Aug. 3, 2016

Blame It on Rio

While the Olympic Games will generate minor short-term growth and employment in Brazil, the net impact of the 2016 Olympic Games in Rio de Janeiro will be negative for the host country, predicts Euler Hermes.The trade credit insurer says hosting the Olympics will increase the country’s public deb...

By Vincent Ryan • Aug. 3, 2016

Avon Stock Surges 15% on Q2 Earnings Beat

Avon Products on Tuesday reported an 8.3% drop in revenue for the second quarter but a larger-than-expected profit helped fuel hopes that the beauty company’s turnaround plan is gaining traction.Avon’s shares rose 15% to $4.80 after it posted earnings of 7 cents per share and revenue of $1.43 bil...

By Matthew Heller • Aug. 2, 2016