Children’s Place stock rocked as Gymboree bankruptcy blamed for big earnings miss

Shares of Children’s Place Inc. took a beating Monday, after the apparel retailer reported fourth-quarter earnings and sales, and provided full-year guidance that missed expectations by a wide margin, citing the “unprecedented” negative effect of rival Gymboree’s bankruptcy. The stockPLCE, -10.34%plummeted 11.5% in active afternoon trade, putting it on track for the lowest close since November 2016. The stock led […]

Read more

Mobile devices make Thanksgiving the third largest online shopping day of the year

Thanksgiving day was the third largest online shopping day of 2018 with $3.68 billion in sales tallied, according to data compiled by Adobe Inc. ADBE, -0.48% and eMarketer. Cyber Monday was the number one online shopping day with $7.87 billion, and Black Friday was number two with $6.22 billion. EMarketer attributes the surge to mobile devices. Midway through the season, […]

Read more

Retail sales will grow as much as 4.4% in 2019, exceeding $3.8 trillion: NRF

The National Retail Federation announced its 2019 retail sales forecast, expecting the total to exceed $3.8 trillion with growth of 3.8% to 4.4%. "More people are working, they’re making more money, their taxes are lower and their confidence remains high," said Matthew Shay, the group’s chief executive, in a statement. "The biggest priority is to ensure that our economy continues […]

Read more

Macy’s has only itself to blame for lackluster holiday performance, analyst says

Macy’s Inc. can blame its own stores for the lackluster same-store sales results for the holiday shopping period, says Neil Saunders, GlobalData Retail’s managing director. Macy’s M, -18.66%  reported same-store sales growth on an owned basis of 0.7%, and a 1.1% same-store sales increase on an owned-plus-licensed basis. The department store retailer now expects full-year same-store sales growth on an […]

Read more

Retail imports reach record 2 million containers as tariffs loom

Retail container ports have reached a new record, 2 million containers in a month, with retailers scrambling to get merchandise into the U.S. before possible tariff hikes, according to the National Retail Federation. Tariff increases were postponed for 90 days after talks between the U.S. and China during the Group of 20 meeting. "We hope that the temporary stand-down becomes […]

Read more

Big Lots’ stock set to sink after wider-than-expected loss, outlook cut

Shares of Big Lots Inc. BIG, -3.84% were indicated down nearly 8% in premarket trade Friday, after the discount home furnishings and food retailer reported a wider-than-expected fiscal third-quarter loss and cut its outlook, while same-store sales beat. The company swung to a net loss for the quarter to Nov. 3 of $6.6 million, or 16 cents a share, from […]

Read more

Barnes & Noble’s Top 20 holiday gift ideas include only 1 book

Barnes & Noble Inc.’s list of 20 top holiday gift ideas in five categories includes several types of socks, some mittens, Mickey Mouse speakers and a Buddha board for “live-in-the-moment” painting, but only one book and no reading devices, not even its own Nook e-reader. That’s actually one more book than last year, as the company’s 2017 list of 27 […]

Read more

These Sears and Kmart stores will start liquidation sales as early as next week

Sears Holdings Corp. has provided a list of 46 unprofitable stores, across 28 states, that it will close in November. The number includes 33 Sears stores and 13 Kmart stores. The struggling department store chain said liquidation sales at the closing stores will begin as early as Aug. 30. Shares SHLD, -0.90% bounced 0.9% in morning trade Friday, after slumping 5.9% […]

Read more

Best Buy is buying a health tech company that caters to the elderly and analysts are impressed

Best Buy Co Inc. shares rose Thursday as analysts cheered the news of its acquisition of San Diego-based GreatCall, a health technology company that focuses on the elderly. The electronics retailer BBY, +0.58% said late Wednesday it is paying $800 million in cash to acquire the company, which provides connected health and emergency response services to more than 900,000 paying subscribers. […]

Read more