Sears reports 2Q loss
Sears Holdings Corp. on Thursday reported a loss of $251 million in its fiscal second quarter. On a per-share basis, the Hoffman Estates, Illinois-based company said it had a loss of $2.34. Losses, adjusted ...
Sears posts second-quarter loss on fewer store visits
The retailer also said it would close 28 Kmart stores later this year, in addition to the 150 Sears and Kmart stores it plans to close by the end of its third quarter. Sears said sales at stores open for at least a year fell 11.5 percent in the second quarter ended July 29. Once the largest U.S. retailer, Sears has struggled with years of losses and declining sales as shoppers shift from the mall to the web.
Lucky numbers for $758.7M Powerball jackpot drawn
Lottery players across the U.S. scooped up $2 Powerball tickets in hopes of beating the odds and winning a massive $758.7 million jackpot in Wednesday night's drawing. Some details about the game and the ...
Jeweler Tiffany’s quarterly profit rises 8.8 percent
Tiffany reported an 8.8 percent rise in quarterly profit on Thursday, helped by lower product input costs and more sales of higher-margin jewelry.
Dixons Carphone shares plummet 30pc as it warns on profits
Dixons Carphone shares plunged by as much as 30pc after the retailer became the latest FTSE company to deliver a shock profit warning, saying that customers were holding onto their mobile phones for longer. The company, which now trades as Currys, PC World and Carphone Warehouse, was punished by investors after announcing it expects full-year profits to fall to between £360m and £440m, compared to the £501m record profits it reported in April. Retail analyst Nick Bubb said the profit warning would "go down like a lead balloon in the City” and shares in the company were down 47p, or 20.7pc, to 180.5p at midday. The profit warning follows grim updates from advertising giant WPP, which lost £2bn of its value yesterday after warning about growth, and Provident Financial, which saw its shares being battered by 60pc earlier in the week. Dixons Carphones' shock announcement came after chief executive Seb James said the weakness of sterling since the Brexit vote had made mobile phone handsets 16pc more expensive while “technical innovation has been more incremental”, he said. Dixons Carphone “As a consequence, we have seen an increased number of people hold on to their phones for longer and while it is too early to say whether important upcoming handset launches or the natural lifecycle of phones will reverse this trend, we now believe it is prudent to plan on the basis that the overall market demand will not correct itself this year.” Mr James said that people were holding on to their phones for between four to six months longer and replacing them after 29 months rather than 24. “Phones don't last forever, because the battery tends to conk about after three to four years, so there is a natural rate of refresh. Maybe the next iPhone 8 ...Read the rest of this story
Can Oil Sands Pay Off at Just $50 a Barrel?
New technologies are helping Canadian oil producers cut costs.
Snowboards Have a Lot to Learn From Catamarans
The wild designs from Gilson Boards make shredding a bit more buttery and playful.