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US health insurance giants doubled their profits as the coronavirus pandemic killed thousands of Americans — sparking a federal investigation. Three of the nation’s largest health insurers raked in a collective $10.7 billion in profits from April through June with the virus raging across the country, up from just $5.3 billion in the same period …
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Canada Goose said Tuesday it would cut production and open fewer new stores this year, as the luxury parka maker tackles the coronavirus-induced strain on its business that has battered sales. The company said it would invest more in its online business to prepare for a busy fall/winter season as reopened retail stores have seen …
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Foot Locker expects to turn a second-quarter profit thanks in part to aid sent to Americans to help during the pandemic. The announcement caught Wall Street, which had expected big losses from the retailer, by surprise Monday. Shares jumped 6 percent. Foot Locker, based in New York, reports earnings next week. The company said the …
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Royal Caribbean Group reported a wider-than-expected quarterly loss on Monday as the cruise operator suffered from a coronavirus-driven halt to sailings that is now on course to last deep into the second half of 2020. The company’s shares, which have lost over 60 percent of their value this year, rose 10 percent in midday trading …
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The coronavirus pandemic has helped stanch the bloodletting at Charlie Ergen’s struggling satellite TV company Dish Network. The Englewood, Colo.-based company on Friday reported fewer-than-expected subscriber losses for the three months ended June 30, thanks to stay-at-home orders that kept customers at home watching TV. Dish, which has been hurt by the growth of streaming …
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AMC Entertainment, the nation’s largest movie theater chain, said it lost half a billion dollars in the second quarter, making it the company’s worst quarter since it was founded in 1920. The chain, which was forced to close cinemas across the nation as the coronavirus swept the nation in March, said it swung to a …
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ViacomCBS, home of “Survivor” and MTV, saw a 12-percent slump in sales last quarter as the coronavirus pandemic sent ad sales down 27 percent. The declines were offset, however, by growth in the media company’s streaming business, which saw revenues rise 25 percent as more consumers hunkered down at home during the pandemic. Despite the …
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Coronavirus-fueled office closures have provided a surprising boost to Adidas, which on Thursday announced it expects to return to profitability in the third quarter as more customers dress down as they work from home. The German sportswear giant’s CEO told reporters that customers in the 18-34 age group say they plan to spend more time …
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Discovery, home of “90 Day Fiancé” and Guy Fieri’s “Diners, Drive-Ins and Dives,” said Wednesday that it plans to launch a new streaming service as the coronavirus took a bite out of its second-quarter income. The broadcasting giant, which owns channels TLC, Food Network and HGTV, plans to launch a new, subscription-based streaming service that …
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BMW on Wednesday reported a quarterly loss of $790 million, fueled by a staggering 25-percent sales drop as the coronavirus pandemic continues to pummel the auto industry. The German auto giant — which also owns Mini and Rolls-Royce — said sales have started to recover during the latest quarter, including a 17-percent jump in deliveries …
US health insurance giants doubled their profits as the coronavirus pandemic killed thousands of Americans — sparking a federal investigation. Three of the nation’s largest health insurers raked in a collective $10.7 billion in profits from April through June with the virus raging across the country, up from just $5.3 billion in the same period …
