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3:11 a.m. May 7, 2021 - By Tonya Garcia
Amazon to add five buildings and 2,000 workers in British ColumbiaAmazon.com Inc. said Friday that it will expand operations in British Columbia with new buildings and new workers. The e-commerce giant will add a fulfillment center, a sortation center and three delivery stations. The facilities, which will be spread across places like Vancouver and Delta, will be open later in 2021 and will create more than 2,000 jobs. Amazon already employs about 5,500 workers in British Columbia. Amazon stock is up 1.5% for the year to date while the S&P 500 index has gained nearly 12% for the period.
6:31 a.m. May 6, 2021 - By Tonya Garcia
Wendy's takes a break from the chicken sandwich war to launch a cheeseburgerWendy's Co. said Thursday that it's launching the Bourbon Bacon Cheeseburger, offering the item for free between May 6 and May 9 with a $15 purchase on Postmates. The launch is notable after months in which fast-food chains have battled over dominance in the chicken category, with competitors like McDonald's Corp. among those . Chicken has become so prominent on fast-food menus some say it has contributed to a chicken shortage. "Following the success of our Pretzel Bacon Pub Cheeseburger and Jalapeno Popper Chicken Sandwiches on the Made to Crave platform, we wanted to go back to our roots," said Carl Loredo, Wendy's chief marketing officer, in a statement. Wendy's is scheduled to report its first-quarter earnings on May 12. Wendy's stock is up 4% for the year to date while the S&P 500 index has gained 10.5% for the period.
6:02 a.m. May 6, 2021 - By Tonya Garcia
At Home to be taken private after $2.8 billion all-cash dealAt Home Group Inc. announced Thursday that it will be acquired by private-equity firm Hellman & Friedman in an all-cash transaction valued at $2.8 billion, including the assumption of debt. The near-close of the deal, which will take the home goods retailer private, was first reported in late Wednesday. At Home stockholders will get $36.00 per share in cash, a premium of about 17% to the May 4 closing stock price of $30.67. May 4 was the last trading day before media speculation of the deal. The transaction is expected to close during the third-quarter of calendar year 2021. At Home stock was up 14.5% on Thursday before trading was halted. Shares have rocketed 131.6% for the year to date. The benchmark S&P 500 index has gained 10.8% for the period.
4:56 a.m. May 6, 2021 - By Tonya Garcia
Wayfair revenue rises year-over-year but slips from Q4Wayfair Inc. reported first-quarter net income totaling $18.2 million, or 16 cents per share, after a loss of $285.9 million, or $3.04 per share, last year. Wayfair has adopted a new accounting standard, effective Jan. 1, 2021. Under the old system, the company says it would have reported a loss of 31 cents per share. Adjusted EPS was $1.00, ahead of the FactSet consensus for 26 cents. Revenue of $3.478 billion was up from $2.330 billion last year and ahead of the FactSet consensus for $3.394 billion. In the , Wayfair reported revenue of $3.67 billion. Revenue was up 49% year-over-year compared with 45% in the fourth quarter. Active customers reached 33.2 million as of March 31, up 57.3% year-over-year. Average order value was $237, up from $235 last year. And repeat customers placed 74.5% of total orders in the first quarter, compared with 69.8% last year. Wayfair stock was up 4.5% in Thursday premarket trading, and has gained 20% for the year to date. The S&P 500 index is up 11% for 2021 so far.
3:33 a.m. May 6, 2021 - By Tonya Garcia
Papa John's Epic Stuffed Crust pizza drives sales growthPapa John's International Inc. shares rose 4.2% in Thursday premarket trading after the pizza delivery company reported first-quarter earnings and revenue that beat expectations. Net income totaled $27.1 million, or 82 cents per share, up from $8.4 million, or 15 cents per share, last year. Adjusted EPS of 90 cents beat the FactSet consensus for 56 cents. Revenue of $511.7 million was up from $409.9 million last year and ahead of the FactSet consensus for $470.0 million. Comparable sales in North America grew 26.2% and were up 23.2% on an international basis. Papa John's attributed the growth to the new Epic Stuffed Crust pizza in North America and the company's expanding customer base. The FactSet consensus was for domestic comparable sales growth of 14.9% and international growth of 17.4%. Papa John's stock has gained 10.8% for the year to date while the S&P 500 index is up 11% for the period.
2:59 a.m. May 6, 2021 - By Tomi Kilgore
Tapestry swings to profit that beats expectations, as Coach and Kate Spade sales top forecastsCoach parent Tapestry Inc. reported Thursday that it swung to a fiscal third-quarter profit that beat expectations, as Coach and Kate Spade sales rose above forecasts. The luxury lifestyle brands company's stock was little changed in premarket trading. Net income for the quarter to March 27 was $91.7 million, or 32 cents a share, after a loss of $677.1 million, or $2.45 a share, in the year-ago period. Excluding nonrecurring items, adjusted per-share results swung to earnings of 51 cents from a loss of 27 cents, beating the FactSet consensus of 31 cents. Net sales increased 18.7% to $1.27 billion, above the FactSet consensus of $1.22 billion. Coach sales grew 25% to $964 million to beat expectations of $933.2 million and Kate Spade sales increased 1% to $252 million to top expectations of $251.5 million. The company expects fiscal 2021 revenue to grow at a mid-teens percentage rate, while the current FactSet sales consensus of $5.47 billion implies 10.2% growth. The stock has soared 55.8% year to date, while the S&P 500 has gained 11.0%.
2:51 a.m. May 6, 2021 - MarketWatch
Eurozone retail sales beat forecasts in MarchEurozone retail sales rose in March, beating expectations despite the continuation of coronavirus restrictions across the continent. The European Union's statistics agency said Thursday that the volume of retail sales rose 2.7% in March on month, a larger increase than the 1.6% rise expected by economists polled by The Wall Street Journal.
10:38 p.m. May 5, 2021 - MarketWatch
Superdry returns to revenue growthSuperdry PLC said Thursday that it returned to revenue growth in the fourth quarter of fiscal 2021, boosted by online sales, adding that revenue for fiscal 2021 declined significantly. The British clothing brand said revenue in the fourth quarter ended April 24 rose slightly to 118.3 million pounds ($164.5 million) compared with GBP117.4 million for the same period a year earlier.
10:32 p.m. May 5, 2021 - MarketWatch
Next lifts full-year pretax profit as sales bounceNext PLC said Thursday that sales have been recovering significantly recently, and that it is raising its fiscal 2022 pretax profit expectations. The British retailer said sales have been exceptionally strong in the last three weeks, rising 19% in the period when compared with the same period in 2019, and that it has raised its central guidance for full-ear pretax profit by 20 million pounds ($27.8 million) to GBP720 million.
9:42 p.m. May 5, 2021 - MarketWatch
Zalando returns to profit, launches €200M buybacksZalando SE said Thursday that it returned to profit in the first quarter amid "exceptional" new customer growth and high engagement of its existing customers. The Berlin-based online retailer posted net profit of 34.5 million euros ($41.4 million) compared with a loss of EUR86.4 million in the first quarter of 2020.
5:30 a.m. May 5, 2021 - By Greg Robb
Fed's Evans says chances of persistently higher inflation are 'remote'The chances that the $2.8 trillion stimulus measures passed by Congress since December will overheat the economy and generate higher inflation are remote, said Chicago Fed President Charles Evans on Wednesday. Inflation is likely to pick up in coming months as people resume normal activities and some bottlenecks emerge but simulations performed by economists at the Chicago Fed see inflation topping out at less than a full percentage point and dissipating in two or three years, Evans said in a speech to the Levy Economics Institute of Bard College. "We still have some ways to go before we meet our goals" of full employment and stable 2% average inflation, Evans said. As a result, Fed policy "is likely on hold for some time," he added. Labor market conditions required to move interest rates off zero or to start to taper the $120 billion in monthly asset purchases "will not be met for a while," he said.
4:51 a.m. May 5, 2021 - By Rupert Steiner
Walmart's long-awaited sale of Asda set to be waved through by regulatorWalmart's long-awaited sale of its U.K. supermarket chain Asda looks likely to complete within days after the consortium purchasing it put out a statement claiming the British regulator said there was "reasonable grounds" it would accept amended proposals made by the consortium purchasing the supermarket chain. While the takeover by entrepreneurs Mohsin and Zuber Issa and private equity firm TDR Capital was agreed earlier this year they have not taken over operational control pending an investigation by the Competition and Markets Authority (CMA). There were anti-trust concerns over the number of Asda's gas stations but a remedy to sell 27 sites appears to have satisfied the CMA, the consortium claimed. Asda had previously lost market share and saw sales shrink which had prompted Walmart to review options for its U.K. division. A green light from the regulator will bring to an end a protracted process which had involved a failed merger with rival Sainsbury's. The CMA declined to comment and Asda was approached for a comment.
2:56 a.m. May 5, 2021 - By Tomi Kilgore
ODP stock rises after plan to separate into two publicly traded companiesShares of ODP Corp. were indicated up more than 2% in premarket trading Wednesday, after the office supply retailer announced plans to separate into two independent, publicly traded companies. The separation is expected to occur through a distribution of shares of the new company (NewCo) as a tax-free dividend to ODP shareholders, with ODP shareholders owning 100% of both companies. The record date of the dividend has not yet been determined. After the separation, ODP will have about 1,100 Office Depot and OfficeMax retail locations, and NewCo will provide business-to-business services, including ODP's Business Solutions Division contract business, Grant & Toy and ODP's regional office supply distribution businesses. "We believe creating two focused, pure-play companies will unlock significant opportunities by improving our ability to meet the needs of our customers, while better matching assets and investment profiles of both companies to generate greater value for our shareholders," said Chief Executive Gerry Smith. The stock has run up 45.0% year to date through Tuesday, while the S&P 500 has gained 10.9%.
2:13 a.m. May 5, 2021 - By Tomi Kilgore
Lumber Liquidators stock set to selloff after profit beat expectations but sales came up shortShares of Lumber Liquidators Holdings Inc. were indicated down about 5% in premarket trading Wednesday, after the wood flooring retailer reported first-quarter profit that beat expectations but sales that came up short, as results continued to be impacted by tariffs on certain products imported from China. Net income fell to $10.6 million, or 36 cents a share, from $12.2 million, or 42 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 34 cents, above the FactSet consensus of 23 cents. Net sales rose 6.0% to $283.5 million, below the FactSet consensus of $293.1 million, as same-store sales grew 6.9% to miss expectations of a 10.4% rise. The company said same-store sales were driven by strong demand for installation and home improvement projects and shutdowns related to the COVID-19 pandemic a year ago. Cost of sales rsoe 3.4% to $167.9 million. The company did not provide financial guidance, citing uncertainties surrounding the impact of the COVID-19 pandemic as it relates to consumer spending and supply chain disruptions. The stock has dropped 19.5% year to date through Tuesday, while the S&P 500 has climbed 10.9%.
10:29 p.m. May 4, 2021 - MarketWatch
Boohoo sees further revenue growth as profit risesBoohoo Group PLC reported Wednesday a significant rise in pretax profit for fiscal 2021, and said that revenue for the current fiscal year is expected to rise around 25%, boosted by the performance of its latest acquisitions.
9:18 a.m. May 4, 2021 - By Tonya Garcia
Gap Inc. sells luxury chain Intermix to focus on core brandsGap Inc. said Tuesday that it has agreed to sell its luxury fashion boutique chain Intermix to private-equity firm Altamont Capital Partners. Altamont will get Intermix's store leases, assets and e-commerce in the deal. Gap recently announced the sale of its kids brand . And Gap signed Olympic gymnast , who is leaving Nike Inc. for an apparel partnership with the Athleta brand. Kanye West will also release a in partnership with the Gap namesake brand. "The sale of Janie and Jack and planned transaction of Intermix demonstrate how we are prioritizing our strategic focus and resources behind the growth and potential of Old Navy, Gap, Banana Republic and Athleta," said Sally Gilligan, Gap's head of strategy, in a statement. Gap stock fell nearly 3% in Tuesday trading, but is up more than 70% for the year to date. The benchmark S&P 500 index has gained 10.3% for 2021 so far.
3:21 a.m. May 4, 2021 - By Tonya Garcia
Under Armour now guiding for full-year earnings rather than a lossUnder Armour Inc. stock rose 2.8% in Tuesday premarket trading after the athletic company reported first-quarter earnings that beat expectations and raised its guidance. Net income totaled $77.8 million, or 17 cents per share, after a loss of $589.7 million, or $1.30 per share, last year. Adjusted EPS of 16 cents beat the FactSet consensus for 4 cents. Revenue of $1.257 billion was up from $930.2 million and also ahead of the FactSet consensus for $1.131 billion. Under Armour now expects full-year 2021 revenue to be up at a high-teen percentage rate compared to previous guidance for a rise in the high-single-digit percentage rate. Full-year 2021 EPS is expected to be 2 cents to 4 cents, compared with previous guidance for a loss of 18 cents to 20 cents. And adjusted EPS is expected to be 28 cents to 30 cents versus previous guidance for 12 cents to 14 cents. The FactSet consensus is for revenue of $4.941 billion, suggesting a rise of 10.4% and EPS of 21 cents. Under Armour that it has agreed to pay $9 million to settle an SEC charge that it misled investors. Under Armour neither admitted or denied the charge. Under Armour stock has gained 40.8% for the year to date while the S&P 500 index is up 11.6% for the period.
2:43 a.m. May 4, 2021 - By Tomi Kilgore
CVS stock surges to multiyear high after profit and revenue beats, raised outlookShares of CVS Health Corp. rallied 3.6% toward a 2 1/2-year high in premarket trading Tuesday, after the drugstore chain and health care services company reported first-quarter profit and sales that rose above expectations, with growth in all segments, and raised its full-year outlook. Net income rose to $2.22 billion, or $1.68 a share, from $2.01 billion, or $1.53 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share grew to $2.04 from $1.91, beating the FactSet consensus of $1.73. Revenue increased 3.5% to $69.10 billion, above the FactSet consensus of $68.36 billion. Pharmacy services revenue rose 3.8% to $36.32 billion to beat the FactSet consensus of $35.41 billion, retail and long-term care revenue grew 2.3% to $23.27 billion to top expectations of $23.11 billion and health care benefits revenue increased 6.7% to $20.48 billion to beat expectations of $20.06 billion. For 2021, the company raised its guidance range for adjusted EPS to $7.56 to $7.68 from $7.39 to $7.55, and affirmed it cash flow outlook of $12.0 billion to $12.5 billion. The stock, on track to open at the highest price seen since November 2018, has climbed 13.8% year to date, while the S&P 500 has gained 11.6%.
10:15 p.m. May 3, 2021 - MarketWatch
Pandora lifts view, launches buyback, profit beatsPandora AS on Tuesday upgraded its guidance and launched a new buyback program after posting forecast-beating first-quarter net profit. The Danish jeweler also launched a new growth strategy focused on delivering sustainable and profitable revenue growth, building on opportunities within its existing core business.
6:12 a.m. May 3, 2021 - By Tonya Garcia
Lowe's enlists 'tastemakers' for home decor seriesLowe's Cos. announced the launch of "Lowe's House of Curators," a design series that will rollout through the year. Lowe's will present customers with curated home decor suggestions based on the perspectives of selected "tastemakers." First will be Iris Apfel, a well-known name in fashion who, like Lowe's, is turning 100 this year. Apfel's collection will showcase outdoor living with the "Palm Springs in Your Backyard" collection featuring bright colors and tropical plants, and suggestions for adding bold details. Lowe's stock is up nearly 24% for the year to date while the benchmark S&P 500 index has gained 12% for the period.
4:12 a.m. May 3, 2021 - By Tonya Garcia
Domino's Pizza announces $1B accelerated share repurchase agreement with BarclaysDomino's Pizza Inc. said in a Monday filing that it has entered into a $1 billion accelerated share repurchase agreement with Barclays. Domino's will pay $1 billion to Barclays for about two million shares. The agreement is expected to be completed by the third quarter of 2021. Domino's shares rose 1.1% in Monday premarket trading, and has gained 10.1% for the year to date. The S&P 500 index is up 11.3% for 2021 so far.
3:04 a.m. May 3, 2021 - By Tomi Kilgore
GameStop stock rises after eliminating its long-term debtShares of GameStop Corp. rose 1.3% in premarket trading Monday, after the videogame and consumer electronics retailer said Monday it has effectively eliminated its long-term debt. The company said it completed its voluntary early redemption of $216.4 million of its 10.0% senior notes due 2023. The voluntary redemption covered all of the outstanding 10.0% notes, which represented all of its long-term debt. Separately, GameStop said it has entered into a lease for a 700,000 square foot fulfillment center in York, Pennsylvania as it expands its fulfillment network in North America. The center is expected to be operational in the fourth quarter. The stock had rallied 14.8% last week but lost 8.6% for the month of April. Meanwhile, the S&P 500 rose 5.2% in April.
11:43 p.m. May 2, 2021 - MarketWatch
Germany retail sales climb in March, beating viewsRetail sales in Germany rose sharply in March, beating forecasts and posting their strongest increase since restrictions were imposed in March 2020 due to the coronavirus pandemic. Retail sales increased 7.7% on month in March in calendar and seasonally adjusted terms, data from the country's statistics agency Destatis showed Monday.
6:17 a.m. April 29, 2021 - By Tonya Garcia
Lowe's to hire more than 50,000 workers at May 4 eventLowe's Cos. will host its national hiring day event on May 4, with plans to bring on more than 50,000 part-time, full-time and seasonal workers. Lowe's added more than 90,000 workers into permanent roles last year. Lowe's the hiring goal, noting that spring is the home retailer's busiest season. Lowe's stock is up 24% for the year to date, outpacing the benchmark S&P 500 index , which is up 12% for the period.
5:40 a.m. April 29, 2021 - By Tonya Garcia
CVS launching $100 million venture fundCVS Health Corp. said Thursday that it will launch CVS Health Ventures, a venture fund that invests in and partners with early-stage companies focused on making healthcare more accessible and affordable. Starting with $100 million, the initial focus will be on tech-enabled and digital healthcare companies. CVS notes the investments it has already made through both the CVS and Aetna businesses, including Unite Us, a program that links healthcare and social service providers. CVS also announced on Thursday that it has started to administer COVID-19 vaccines through employer-based vaccination sites. "With vaccine hesitancy on the rise, federal and state governments are looking to partners, like employers and CVS Health, to help by making vaccines more convenient to access and enhancing public education efforts," CVS said in the announcement. CVS is working with 18 employers at 51 locations, including Delta Air Lines. Inc. . CVS stock is up 11.1% for the year to date while the S&P 500 index is up 12.2% for the period.
5:25 a.m. April 29, 2021 - By Tonya Garcia
Coach parent hires VF Corp. vet as CFOTapestry Inc. said Thursday that Scott Roe will join the company as chief financial officer, effective June 1. Roe joins from VF Corp. , parent to brands like Timberland and The North Face, where he was CFO since April 2015. VF Corp. announced last week that Matt Puckett was named to the CFO role. He has been with the company for 20 year. In addition to finance functions, Roe will also head up Tapestry's Strategy and Consumer Insights team. Tapestry brands include Coach, Kate Spade and Stuart Weitzman. Tapestry stock has gained 52.8% for the year to date. VF Corp. is up 4.6%. And the benchmark S&P 500 index is up 11.4% for the period.
4:39 a.m. April 29, 2021 - By Tomi Kilgore
Muscle Maker to start accepting bitcoin as an alternative paymentShares of Muscle Maker Inc. rose 1.6% in premarket trading Thursday, after the parent of the Muscle Maker Grill fast-casual burger chain said it will start accepting bitcoin as an alternative to cash, credit or debit payments. The company said bitcoin acceptance will start with accepting the cryptocurrency for initial fees for new franchises, then expand to online meal plan subscriptions with its Superfit Foods brand and eventually will expand to everyday food purchases companywide. "Today's digital world continues to grow exponentially," said Chief Executive Michael Roper. "The acceptance of bitcoin is a natural progression for companies looking to stay relevant. Millennials are in search of healthy food, giving them the ability to pay with a crypto currency makes it even easier to eat healthy." Muscle Maker's stock has lost 7.7% year to date, while bitcoin has soared 87.6% and the S&P 500 has gained 11.4%.
4:31 a.m. April 29, 2021 - By Tonya Garcia
Kohl's adding electric vehicle charging stations to 50 storesKohl's Corp. said Thursday that it will add 100 electric vehicle charging stations to 50 store locations nationwide. That will bring the total number of charging stations to 275 across 150 stores. Kohl's has partnered with Volta Industries on the charging stations. Kohl's stock has gained 48.8% for the year to date while the S&P 500 index is up 11.4% for the period.
3:50 a.m. April 29, 2021 - By Tonya Garcia
Domino's revenue falls shy of Street expectationsDomino's Pizza Inc. shares fell 1% in Thursday premarket trading after first-quarter revenue fell shy of Street expectations. Net income totaled $117.8 million, or $3.00 per share, down from $121.6 million, or $3.07 per share, last year. Revenue totaled $983.7 million, up from $873.1 million last year. The FactSet consensus was for EPS of $2.94 and revenue of $985.0 million. U.S. same-store sales were up 13.4%, while international same-store sales rose 11.8%. The FactSet consensus was for U.S. same-store sales growth of 9.7%, and international growth of 6.0%. Domino's stock is up 5.3% for the year to date while the S&P 500 index has gained 11.4% for the period.
3:18 a.m. April 29, 2021 - By Tonya Garcia
McDonald's Q1 sales surpass pre-COVID 2019 levelsMcDonald's Corp. reported first-quarter net income of $1.54 billion, or $2.05 per share, up from $1.01 billion, or $1.47 per share, last year. Excluding strategic gains, adjusted EPS was $1.92, ahead of the FactSet consensus for $1.81. Revenue totaled $5.125 billion, up from $4.714 billion last year and also ahead of the FactSet consensus of $5.036 billion. Global comparable sales rose 7.5%, with U.S. comparable sales rising 13.6%. The FactSet consensus was for a global comparable sales increase of 4.9%. "Our first quarter 2021 global comparable sales and revenues surpassed first quarter 2019 levels, even as resurgences and operating restrictions persist in many parts of the world," said Chris Kempczinski, chief executive of McDonald's, in a statement, adding that the company is focused on "marketing in a culturally relevant way" and "doubling-down on digital, delivery and drive thru." McDonald's stock slipped 0.9% in Thursday premarket trading, though shares have gained 8.3% for the year to date. The Dow Jones Industrial Average is up 10.5% for 2021 so far.
2:12 a.m. April 29, 2021 - By Tomi Kilgore
Overstock stock shoots higher after swinging to a big profit beat, revenue nearly doublesShares of Overstock.com Inc. surged 8.6% in premarket trading Thursday, after the online retailer reported first-quarter profit and revenue that were well above expectations, as active users nearly doubled. The company swung to net income of $16.1 million, or 33 cents a share, from a loss of $16.3 million, or 40 cents a share, in the year-ago period. Excluding discontinued operations, earnings per share came to 56 cents. The FactSet EPS consensus was 4 cents. Revenue soared 94% to $659.9 million, above the FactSet consensus of $582.4 million. Active customers rose 92% to 9.9 million, while orders delivered 66% to 3.6 million and average order value grew 17% to $183. The stock has lost 8.8% over the past three months through Wednesday, while the Amplify Online Retail ETF has gained 3.7% and the S&P 500 has advanced 12.6%.
7:49 a.m. April 28, 2021 - By Tonya Garcia
Walmart expands program to benefit diverse suppliersWalmart Inc. said Wednesday that it has expanded an early payment program that will benefit minority and diverse suppliers. The latest program, which launches on May 3, builds on an existing one, providing additional options intended to make access to working capital faster and more affordable. Walmart says it will fund the program first, ultimately partnering with international and minority-owned banks for additional capabilities. Walmart, which partnered with financial technology company C2FO, provided a copy of the letter sent to Walmart suppliers . Walmart shares have fallen 4.1% for the year to date while the Dow Jones Industrial Average is up 10.6% for the period.
3:00 a.m. April 28, 2021 - By Tomi Kilgore
Chili's parent Brinker stock rises after profit and revenue miss, but outlook is above expectationsShares of Chili's restaurant parent Brinker International Inc. surged 2.2% in premarket trading Wednesday, after the restaurant operator reported fiscal third-quarter profit and revenue that missed expectations, as Winter Storm Uri weighed on results, but provided an upbeat outlook for the current quarter. Net income for the quarter to March 24 was $33.9 million, or 73 cents a share, after $30.8 million, or 81 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 78 cents, missing the FactSet consensus of 82 cents. Total revenue fell 3.7% to $828.4 million, below the FactSet consensus of $849.1 million, as same-store sales fell 3.3% to miss expectations of a 0.8% decline. Chili's same-store sales were flat, below expectations of 1.6% growth. The company estimates Winter Storm Uri reduced sales by $10.5 million and adjusted EPS by 6 cents. For the fiscal fourth quarter, the company expects adjusted EPS of $1.55 to $1.70 and revenue of $950 million to $1.0 billion, above the FactSet consensus for EPS of $1.27 and revenue of $942 million. The stock has rallied 16.0% year to date through Tuesday, while the S&P 500 has advanced 11.5%.
10:27 p.m. April 27, 2021 - MarketWatch
J Sainsbury swings to loss as pandemic costs riseJ Sainsbury PLC on Wednesday reported a swing to pretax loss for fiscal 2021 as the coronavirus pandemic boosted costs and offset growth in revenue in the period. The British grocer posted a pretax loss of 261 million pounds ($363.1 million) for the year ended March 6, compared with a profit of GBP255.0 million in fiscal 2020.
10:25 p.m. April 27, 2021 - MarketWatch
U.K. retail deflation slows, hinting of inflation--Deflation at U.K. retail stores slowed to 1.3% on year in April from 2.4% in March --Reverting a continuing trend, deflation affected food products for the first time since January 2017 --While still overall down on year, April's slower fall indicates retail prices are likely to start rising in the near term
4:18 a.m. April 27, 2021 - By Ciara Linnane
GameStop shares soar another 10% premarket, lifting other 'meme' stocks AMC, Naked Brand and Koss tooShares of videogame retailer GameStop Corp. rose another 10% in premarket trade Tuesday, extending their prior-day gains amid talk on social media that trader in South Korea have joined the Reddit group seeking to push their bull case for the company. The stock was active late Monday that it had completed its "at-the-market' stock offering by selling 3.5 million shares for about $551 million. That was after the stock closed up about 12% in regular trade, chalking up its first double-digit gains since March 12. Other so-called meme stocks were also higher, with AMC Entertainment Holdings Inc. up 2.4%, BlackBerry Ltd. up 1%, Naked Brand Group Ltd. up 1.9% and Koss Corp. up 1.6%.
4:58 a.m. April 26, 2021 - By Tomi Kilgore
Camping World to start accepting crytocurrency for RV purchases, stock surges toward 3-year highShares of Camping World Holdings Inc. jumped 3.0% toward a 3-year high in premarket trading Monday, after the recreational vehicle (RV) retailer said it will start accepting cryptocurrencies as payment for purchases. The company said it is partnering with cryptocurrency payment service provider BitPay, which will allow it to accept bitcoin , Ethereum and other select cryptocurrencies through a variety of digital wallets. The service will initially launch at the company's Chicago and Kenosha, Wis. locations, then expand to all locations and to its ecommerce platforms this summer. "As the industry leader, we have a responsibility to adapt to new preferences and elevate the customer experience, whether through the products and services we offer, or in the ways we interact and transact with the customer," said Camping World Chief Executive Marcus Lemonis. The stock has soared 65.4% year to date through Friday, while the S&P 500 has gained 11.3%.
3:57 a.m. April 26, 2021 - By Tonya Garcia
Albertsons swings to a loss, shares sinkAlbertsons Cos. Inc. swung to a fourth-quarter loss, sending shares down 4.3% in Monday premarket trading. Net loss totaled $144.2 million, or 37 cents per share, after net income of $67.8 million, or 12 cents per share, last year. Adjusted EPS of 60 cents beat the FactSet consensus for 51 cents. Sales of $15.77 billion were up from $15.44 billion last year and also ahead of the FactSet consensus for $15.66 billion. Digital sales grew 282% and identical sales were up 11.8%. The FactSet consensus was for same-store sales growth of 10.6%. For fiscal 2021, Albertsons is guiding for EPS in the range of $1.95 to $2.05 and an identical sales decline of 6% to 7.5%, which represents growth of 9.4% to 10.9% on a two-year stack. The FactSet consensus is for EPS of $1.86 and a same-store sales decline of 7.2%. Albertsons shares are up 9.1% for the year to date while the S&P 500 index is up 11.3% for the period.
2:34 a.m. April 26, 2021 - By Tomi Kilgore
Etsy stock falls after KeyBanc analyst backs away from long-time bullish stanceShares of Etsy Inc. fell 1.9% in premarket trading Monday, after KeyBanc analyst Edward Yruma backed away from his long-time bullish call on the online crafts marketplace, citing valuation and a lower near-term likelihood of positive earnings revisions. Yruma downgraded Etsy to sector weight, after being at overweight since October 2017. He said after outperforming the broader market by a wide margin since his upgrade, valuation looks "fair" and current consensus analyst expectations look "reasonable." "We believe that Etsy remains one of the best long-term growth opportunities in our coverage," Yruma wrote in a note to clients. "However, we move to Sector Weight given what we view as a fair valuation and lower likelihood of near-term earnings beats." The stock has soared 224.2% over the past 12 months through Friday, while the Nasdaq Composite has climbed 62.3% and the S&P 500 has advanced 47.4%.
7:08 a.m. April 22, 2021 - By Tonya Garcia
Lowe's acquires StainMasterLowe's Cos. announced its acquisition of StainMaster, the carpet and flooring brand. The financial details of the deal were not disclosed. Lowe's has exclusively sold StainMaster carpet for the last decade, and says this expands on that partnership. The acquisition includes all intellectual property and sub-brands. StainMaster will join the Lowe's lineup of private labels, which includes Project Source and Harbor Breeze. Lowe's stock has gained 26.2% for the year to date while the benchmark S&P 500 index is up 10.9% for the period.
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