[ad_1] Brazilian private equity firm 3G Capital quietly sold off its 16.1% stake in Kraft Heinz in the fourth quarter, nearly nine years after masterminding the blockbuster merger of Kraft Foods and Heinz with Warren Buffett. The sale marks the end of an era for 3G. The firm’s influence over …
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Nearly half of Levi’s sales are happening online and in its shops, a shift as department stores fade
[ad_1] Levi Strauss, which has long relied on wholesalers like Macy’s and Kohl’s to drive its business, is now doing nearly half of its sales through its own website and stores, the company said Wednesday when reporting fiscal first-quarter earnings. In the three months ended Feb. 25, direct-to-consumer sales made …
Read More »Lululemon shares plunge 10% on weak guidance, slowing North America growth
[ad_1] Lululemon on Thursday reported holiday earnings that topped expectations, but the athletic apparel retailer’s guidance came in below estimates as its growth in North America stagnates. Here’s how the company did in its fourth fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts …
Read More »Nike holiday sales top estimates, helped by better than expected North America growth
[ad_1] Nike on Thursday reported holiday sales that beat estimates, helped by better than expected growth in North America. Here’s how the company performed compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: 77 cents vs. 74 …
Read More »Shares of Dick’s Sporting Goods soar 15% on holiday earnings beat, dividend raise
[ad_1] Dick’s Sporting Goods raised its dividend by 10% on Thursday as the company posted its largest sales quarter in its history and projected another year of growth. The company’s shares jumped more than 15% in intraday trading. CEO Lauren Hobart said on an earnings call Thursday that Dick’s sales …
Read More »Saudi oil giant Aramco posts 25% fall in full-year profit
[ad_1] Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada. Artur Widak | Nurphoto | Getty Images Saudi …
Read More »Costco misses holiday-quarter revenue expectations despite online growth
[ad_1] Mandel Ngan | Afp | Getty Images Costco on Thursday missed Wall Street’s revenue expectations for its holiday quarter, despite reporting year-over-year sales growth and strong e-commerce gains. Shares of the retailer fell about 4% in aftermarket trading. The retailer’s stock had hit a 52-week high earlier in the …
Read More »Gap shares pop as company’s holiday earnings blow past estimates, Old Navy returns to growth
[ad_1] A general view of an Old Navy store. Gap Inc. Gap’s largest banner Old Navy returned to growth for the first time in more than a year during its holiday quarter as the retailer delivered earnings on Thursday that came in well ahead of Wall Street’s expectations. Sales at …
Read More »NYCB says it lost 7% of deposits in the past month, slashes dividend to 1 cent
[ad_1] The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024. Bing Guan | Bloomberg | Getty Images New York Community Bank said Thursday it lost 7% of its deposits in the turbulent month before announcing a $1 billion-plus capital injection from investors …
Read More »Stocks making the biggest moves midday: Spirit AeroSystems, Zscaler, Dell, Advanced Micro Devices and more
[ad_1] Check out the companies making headlines in midday trading. Spirit AeroSystems — Shares climbed more than 12% following a report that Boeing was in talks with Spirit to reacquire the fuselage supplier nearly 20 years after spinning it off into a separate company. Hewlett Packard Enterprise — The technology …
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