FedEx witnessed a significant increase in its shares by over 15% in after-hours trading following the release of its fiscal fourth-quarter results. The company exceeded analyst expectations in both earnings and revenue, with earnings per share coming in at $5.41 adjusted compared to an expected $5.35, and revenue reaching $22.11 billion against an estimated $22.07
Business
The current outlook for U.S. auto sales in the first half of the year indicates a 2.9% increase compared to the previous year. However, there are growing concerns that this momentum may not be sustained throughout the year. Factors such as growing vehicle inventory levels, increasing incentives, and uncertainty surrounding the economy, interest rates, and
Target’s recent decision to team up with Shopify is a strategic move aimed at enhancing its online marketplace with new and trendy brands. This partnership has the potential to revitalize Target’s digital sales and attract a wider range of customers. By tapping into Shopify’s network of smaller and up-and-coming brands, Target is looking to differentiate
Forever 21, a well-known fast-fashion retailer with over 380 stores in the U.S., is facing financial challenges that have prompted it to seek a reduction in rent from its landlords. The company has asked some landlords to slash its rent by up to 50%, indicating the severe impact of declining sales and stiff competition in
The market for previously owned homes is facing challenges, with sales at a 30-year low and minimal movement seen in May. Existing home sales remained relatively flat, dropping by 0.7% from April to a seasonally adjusted annual rate of 4.11 million units. This trend mirrors a 2.8% decrease from the previous year. The consistency in
Darden Restaurants recently released its quarterly results, which caused mixed reactions in the market. Despite an increase in net sales, the same-store sales of its flagship brand, Olive Garden, declined for the second consecutive quarter. Additionally, Darden provided a modest forecast for the coming fiscal year, predicting a mere 1% to 2% growth in same-store
In recent years, the box office has been missing a crucial element – family films. However, in the last few months, there has been a resurgence of kid-friendly movies hitting the big screen. This resurgence has brought new life to the box office, giving hope to movie theater operators for a stronger second half of