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Kohl’s said it has slashed about 15 percent of its corporate jobs as it grapples with the impact of the coronavirus pandemic. The Wisconsin-based retailer expects to save about $65 million a year as a result of the reductions disclosed Tuesday, which are part of a cost-cutting plan that aims to slash more than $100 …
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Peloton beat analysts’ estimates for quarterly revenue on Thursday as the exercise bike maker benefited from a 172 percent surge in total revenue, with boosts in subscribers and demand for its fitness products during the coronavirus pandemic. Shares of the company rose 8 percent in extended trading as it forecast full-year revenue above Wall Street …
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Cosmetics maker Coty on Thursday posted a bigger-than-expected quarterly loss and a 56 percent slump in sales, as the coronavirus-induced closure of stores and parlors hammered demand for its beauty products. Cosmetics makers are battling the closure of other channels of sales, including duty-free shops at airports, and also contending with work-from-home customers focusing on …
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America’s biggest dollar store chains reported better-than-expected quarterly profit on Thursday, as cash-strapped consumers sought lower-priced groceries and household items in a coronavirus-induced economic downturn. Sales at Dollar General and Dollar Tree remained robust even after the panic-buying surge at the start of lockdowns, with high US unemployment pushing demand for cheaper cereals, vegetables and …
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At-home workouts and outdoor athletic activities are shaping up to be good business for Dick’s Sporting Goods. The retailer’s second-quarter results easily beat Wall Street’s expectations as consumers continue to focus on health and wellness while stuck at home amid the coronavirus pandemic. “During this pandemic, the importance of health and fitness has accelerated and …
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Consumer electronics retailer Best Buy warned of a slowdown in sales in the third quarter as it faces risks from the coronavirus pandemic including unemployment, lower government stimulus and potential product shortages. The company’s shares fell as much as 7.4 percent in early trading on Tuesday after it said sales growth, driven by record online …
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An activist investor who shook up Harley-Davidson earlier this year said he is impressed with the changes initiated by new Chief Executive Jochen Zeitz to turn around the 117-year-old motorcycle company. Impala Asset Management, the $2.4 billion hedge fund, pushed for the ouster of Zeitz’s predecessor Matt Levatich in January. Months later, it tried to …
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Target hit a bullseye in the second quarter as an explosion of online shopping led the department store giant to record sales growth. The Minneapolis-based chain on Wednesday reported a 24.3 percent spike in comparable sales for the three months ending Aug. 1 — its biggest quarterly increase on record — driven by a massive …
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Walmart said its online sales nearly doubled as locked-down consumers armed with stimulus checks stocked up on everything from milk to clothing during the pandemic. The world’s biggest retailer’s online sales spiked 97 percent in the most recent quarter ended July 31, with customers increasingly picking up their web-ordered groceries in the store parking lot, …
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Madison Square Garden Sports on Friday reported a loss of $78.5 million in its fiscal fourth quarter. On a per-share basis, the New York-based company said it had a loss of $3.27. Losses, adjusted to account for discontinued operations, came to $3.26 per share. For the year, the company reported a loss of $182.4 million, …
Kohl’s said it has slashed about 15 percent of its corporate jobs as it grapples with the impact of the coronavirus pandemic. The Wisconsin-based retailer expects to save about $65 million a year as a result of the reductions disclosed Tuesday, which are part of a cost-cutting plan that aims to slash more than $100 …
