Why the retail industry is facing a bankruptcy wave

Revlon makeup products are displayed at a CVS store on August 9, 2018 in Sausalito, California. Justin Sullivan | Getty Images The retail industry is up against a potential wave of bankruptcies following a monthslong slowdown in restructuring activity. There could be an increase in distressed retailers beginning later this year, experts say, as ballooning … Read more

Walmart strategy to launch apparel, home brands is being put to the test

Scoop is one of Walmart’s exclusive fashion brands. It has also struck deals with national brands like BCBG Paris. Melissa Repko | CNBC SPRINGDALE, Arkansas — Dressed-up mannequins. Eye-catching displays of sleek furniture and colorful swimsuits. And store signs that promote exclusive brands and nationally recognized ones. Walmart’s redesigned SuperCenter, located just 16 miles from … Read more

Target warns of squeezed profits from aggressive inventory plan

Target investors warned Tuesday that its profits will take a short-term hit, as it marks down unwanted items, cancels orders and takes steps to get rid of extra aggressive inventory. The retailer slashed its profit margin expectations for the fiscal second quarter to account for a wave of goods winding up deeply discounted or on … Read more

Ulta Beauty, Big Lots, Autodesk, Workday and more

Ulta Beauty store. Scott Mlyn | CNBC Check out the companies making headlines in midday trading Friday. Ulta Beauty — The beauty retailer surged 10% following better-than-expected quarterly earnings and revenue. Ulta Beauty also shared a better-than-expected outlook for the full year. American Eagle — The stock dropped 4.2% after the retailer posted weaker-than-expected quarterly … Read more

Big Lots, Hibbett, Pinduoduo and others

Check out the companies making headlines before the bell: Big Lots (BIG) – The discount retailer’s shares tumbled 21.2% in the premarket after missing Wall Street forecasts for quarterly earnings and revenue. The company also reported a larger-than-expected slump in comparable-store sales and issued cautious full-year guidance, saying inflationary pressures reduce discretionary spending. Hibbett (HIBB) … Read more

Ulta, Gap, Dell and more

Bloomberg | Bloomberg | Getty Images Check out the companies making headlines after the bell: Ulta Beauty — Shares surged more than 6% after hours as the beauty retailer’s quarterly report beat Wall Street estimates on the top and bottom lines. Ulta Beauty posted adjusted first-quarter earnings of $6.30 per share on revenue of $2,346 … Read more

JPMorgan Chase, Gap, VMWare & more

People pass the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City. Mike Segar | Reuters Check out the companies making headlines in midday trading. JPMorgan Chase – JPMorgan rose 7% after the bank said it expects to reach key return targets sooner than planned thanks to rising interest … Read more

What Walmart, Target, Home Depot and Lowe’s tell us about the economy

How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers — Walmart, Target, Home Depot and Lowe’s — reported quarterly financial results this week, and they each offered a different perspective on where and how people are spending their money. Walmart said some of its … Read more

Stocks have weathered surging bond yields but can’t take too much more, this Morgan Stanley strategist warns

The colorful blogger Wolf Richter of the Wolf Street blog says the Federal Reserve engaged in a bit of deception with its purchases of Treasury-inflation protected securities as part of its quantitative-easing program. “Since March 2020, the Fed’s proportionally huge purchases dominated the relatively small TIPS market and pushed the TIPS yields into the negative,” … Read more

American Express, Verizon, Kimberly-Clark and more

Check out the companies making headlines before the bell: American Express (AXP) – American Express rose 1.2% in the premarket after reporting better-than-expected profit and revenue for the first quarter. Amex reported a profit of $2.73 per share compared with the $2.44 consensus estimate, helped by increased spending by millennials and Gen-X consumers as well … Read more