Downsizing Is Best Buy’s Only Option
No matter who gets control of Best Buy Co. Inc. (NYSE: BBY), its current board or founder Richard Schulze, the company faces brutal cuts in stores and personnel. There is no other way out…
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Newest first · Page 295Best Buy Names CEO as Talks with Founder Stall
Best Buy Co. Inc. (NYSE: BBY) plans to name CEO Hubert Joly of the hospitality company Carlson as its new chief executive, according to DealBook. This announcement ends the electronics retailer’s months-long search for a…
Pension Fund Sues Walmart for Access to Documents
It was revealed on Thursday that the Indiana Electrical Workers Pension Trust Fund IBEW has sued Wal-Mart Stores Inc. (NYSE: WMT). The Indiana union pension fund owns shares in Walmart and wants access to…
Turnaround Continuation After Gap Earnings
Gap Inc. (NYSE: GPS) is out with its second quarter earnings report. The apparel retailer reported earnings of $243 million or $0.49 per share as sales increased by 6 percent to $3.58 billion. Estimates…
Dispute Between Macy’s, Penney Goes to Court (M, JCP, MSO)
Back in February, J.C. Penney Co. Inc. (NYSE: JCP) signed a contract with Martha Stewart Living Omnimedia (NYSE: MSO) to create Martha Stewart Living stores within Penney’s own stores. Macy’s Inc. (NYSE: M), which…
Sears Posts Loss as Expected, Revenues Light (SHLD)
Sears Holdings Corp. (NASDAQ: SHLD) reported an adjusted second-quarter net loss of $0.86 per share and $9.47 billion in sales before markets opened today. In the same period a year ago, the retailer reported…
Walmart Earnings Just Okay (WMT)
Wal-Mart Stores Inc. (NYSE: WMT) reported second-quarter earnings per share (EPS) of $1.18 and $113.5 billion in sales before markets opened today. In the same period a year ago, the retailing giant reported EPS…
US House Committee Getting Tough with Walmart
The top-ranking Democratic members of two House committees have sent a letter to Michael Duke, CEO of Wal-Mart Stores Inc. (NYSE: WMT), offering the company one last chance to comply with requests for information…
Target Shares Rise on Solid Beat (TGT, WMT)
Target Corp. (NYSE: TGT) reported second-quarter earnings per share (EPS) of $1.12 and $16.78 billion in revenues before markets opened this morning. In the same period a year ago, the big-box retailer reported EPS…
Staples Tumbles on Disappointing Q2, Lower Outlook
Staples Inc. (NASDAQ: SPLS) tumbled in premarket trading after posting disappointing second-quarter results and lowering its full-year guidance. The retailer reported quarterly earnings of $120.4 million, or $0.18 per share, and $5.5 billion in…
New Mobile Payments Network to Rival Google Wallet
Wal-Mart Stores Inc. (NYSE: WMT), CVS Caremark Corp. (NYSE: CVS), 7-Eleven Inc., Sunoco Inc. (NYSE: SUN) and other well-known retailers are expected to announce that they have banded together to develop a mobile payments…
Sears: Unlocking Value or Self-Destructing? (SHLD)
According to a report in today’s New York Post, Sears Holdings Corp. (NASDAQ: SHLD) “has met with investors about selling the Lands’ End brand, which accounts for as much as half the company’s profits.”…
TJX Falls Despite Earnings Beat
TJX Companies (NYSE: TJX) reported earlier this morning that its second-quarter profit came to $421 million, or $0.56 per share, and revenue totaled $6 billion. The results were up from $348.3 million, or $0.45…
Walmart Gets OK on Chinese Acquisition (WMT, YHOO, DANG, AMZN)
Wal-Mart Stores Inc. (NYSE: WMT) has received approval from Chinese regulators to boost its stake in e-commerce company Yihaodian to 51%, according to the Wall Street Journal. The financial details of the acquisition have…
Samsung Mobile Phone Sales Remain Strong Despite Overall Decline
Gartner, an information technology research and advisory company, announced today that worldwide sales of mobile phones declined 2.3% in second quarter to 419 million units, compared to the year-ago quarter. Smartphone sales, which accounted…