New York CNN Business — Kirkland Signature. Two-Buck Chuck. Simple Truth. Cat & Jack. Great Value. Amazon Basics. Store brands have never been more popular. They have become forces in their own right and make up around 21% of sales in the $1.7 trillion US grocery industry, according to IRI. As prices surge, store brands […]
Filip Radwanski | Lightrocket | Getty Images The retail battle narrative over the past few decades has cited one of two wars: Amazon and e-commerce against the big bricks-and-mortar retailers, and everybody big against small Main Street entrepreneurs. But in the current confusing economic environment — marked by inflation, supply chain bottlenecks and a volatile […]
Image: Gizmodo/Getty Gizmodo is 20 years old! To celebrate the anniversary, we’re looking back at some of the most significant ways our lives have been thrown for a loop by our digital tools. If you’ve ever tried to research how the Big Bad Tech Monopolies of our time got so big and bad, you’ll find […]
Exterior view of a Walmart store on August 23, 2020 in North Bergen, New Jersey VIEW press | Corbis News | Getty Images Walmart has begun to lay off corporate employees, the company confirmed Wednesday, about a week after it slashed its profit outlook and warned that consumers had pulled back on discretionary spending due […]
The market was treading water on Monday as it awaited significant earnings news and the Fed interest rate decision when Walmart (WMT) suddenly issued a shocking after-hours warning. Walmart had just issued a very poor earnings report and a warning in mid-May, so it was a surprise that even more bad news was disseminated so […]
Good morning. This article is an on-site version of our FirstFT newsletter. Sign up to our Asia, Europe/Africa or Americas edition to get it sent straight to your inbox every weekday morning Walmart issued its second profit warning in 10 weeks after the market closed yesterday, saying inflation was weighing on price-sensitive consumers. “The increasing […]
U.S. stock futures fell on Tuesday morning after Walmart cut its profit forecast, sending retail stocks tumbling after hours. Dow Jones Industrial Average futures fell by 120 points, or 0.38%. S&P 500 and Nasdaq 100 futures declined 0.3% and 0.39%, respectively. A late Monday announcement from Walmart, which cut its quarterly and full-year profit estimates […]
The front desk of the Amazon office is pictured in New York, May 1, 2019. Carlo Allegri | Reuters Shares of Amazon fell more than 4% in extended trading on Monday after Walmart said it was lowering its quarterly and full-year profit guidance. Walmart announced after the bell on Monday that it now expects adjusted […]
Walmart on Monday cut its quarterly and full-year profit guidance, saying inflation is causing shoppers to spend more on necessities like food and less on items like clothing and electronics. Shares of the company fell about 8% after hours. It also dragged down other retailers’ stocks, including Target, which was down by more than 5%. […]
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