A shopper leaves a Nike store in the Magnificent Mile shopping district in Chicago with a purchase on December 21, 2022. Scott Olson | Getty Images Nike shares plunged on Friday after the sportswear maker cut its fiscal year sales forecast, with sneaker retailer Foot Locker also feeling the blow. Nike fell more than 10%. … [Read more…]
Photo credit: Darrell Etherington Apple will stop selling its Series 9 smartwatch, TechCrunch has confirmed. The news shared by 9to5Mac follows an International Trade Commission (ITC) ruling in October arising from a patent dispute with California-based medical device company Masimo. The dispute stems from the blood sensor monitor on the latest flagship smartwatch. The move … [Read more…]
View of the Shanghai skyline from a container station. Yaorusheng | moment | Getty Images China reported on Friday that its industrial production grew in November at the fastest pace since February 2022, although retail sales growth fell short of expectations, pointing to a patchy recovery in the world’s second-largest economy. Economists are approaching the … [Read more…]
Buyers who have been waiting for a drop in home sales prices to get their hands on their dream property will have to be patient, as 2023 prices should be maintained next year. At least that is what the Quebec Association of Real Estate Agents (APCIQ) predicts in its 2024 outlook for the residential real … [Read more…]
November retail sales posted surprising growth on Thursday, underscoring that the U.S. consumer remains in a better place than many feared. According to the Census Bureau, retail sales rose 0.3% in November. Economists had expected a decline of 0.1%. October retail sales fell 0.2%. November sales excluding cars and gasoline rose 0.6%, compared with Bloomberg … [Read more…]
Revenues for the world’s top arms suppliers fell in 2022 as production problems prevented companies from meeting rising demand, boosted in particular by the war in Ukraine, according to Sipri researchers. According to a new report from the Stockholm International Peace Research Institute (Sipri), sales of arms and military services from the world’s 100 largest … [Read more…]
(Bloomberg) – Starbucks Corp. shares. suffered a record losing streak as concerns grow that sales trends at the coffee giant have cooled in recent weeks. Most read by Bloomberg The stock fell 1.6% on Monday, its 11th straight decline. This is the longest decline since Starbucks’ stock market debut in 1992. Overall, the decline has … [Read more…]
Nov 28 (Portal) – Deep discounts on everything from beauty products and toys to electronics over the Thanksgiving weekend lured U.S. shoppers to spend about $38 billion online, pointing to a strong holiday shopping season even as the economic one There was uncertainty. According to data from Adobe Analytics, online consumer spending rose 7.8% during … [Read more…]
Sales of previously occupied U.S. homes plunged to their lowest level in more than 13 years in October as higher mortgage rates and rising prices deterred many would-be home buyers. However, according to new sales figures compiled by the Greater Chattanooga Association of Realtors, the decline in home sales in the Chattanooga market was not … [Read more…]
It could have been worse, and it’s not like Wall Street expected much anyway. In short, this is Target’s third-quarter earnings as of Wednesday morning. After nearly two years of brutal results due to execution errors, rising retail theft and increasingly cautious consumer sentiment, Target has crushed analysts’ lowered estimates for sales, margins and profit. … [Read more…]