Walmart stock tumbles as supply chain snarls hit margins ahead of holidays

(Reuters) -Walmart Inc shares on Tuesday suffered their biggest intraday drop since May after high labor and supply chain costs ate into quarterly margins, even as the world’s biggest retailer raised its annual sales and profit forecast. Major retailers, including Amazon.com, have been struggling to bring products into the United States ahead of the peak […]

Walmart raises full-year sales, profit forecasts as holidays start strong

(Reuters) -Walmart Inc on Tuesday raised its annual sales and profit forecast in anticipation of a surge in demand for toys and apparel during the crucial holiday season, even as global supply chain disruptions hit its margins in the third quarter.FILE PHOTO: Shoppers are seen wearing masks while shopping at a Walmart store in Bradford, […]

Burberry's Q2 growth stalls after disruption in China

LONDON (Reuters) – Burberry’s sales flatlined in the second quarter due to bad weather and COVID-19 travel restrictions in China, taking the shine off the fashion brand’s better than expected profit.FILE PHOTO: A Burberry logo is seen outside the store on 5th Ave in New York, New York, U.S., March 19, 2019. REUTERS/Carlo AllegriShares in […]

UPS results get a boost from higher shipping prices

A woman walks past a sign bearing the logo of United Parcel Service (UPS) at a job fair in Chicago, Illinois, October 18, 2014. REUTERS/Jim Young (Reuters) -United Parcel Service Inc reported better-than-expected quarterly earnings and revenue on Tuesday, bolstered by strong e-commerce demand that has allowed the delivery giant to raise shipping prices and […]

Goldman Sachs thrives on global dealmaking frenzy to post bumper profit

(Reuters) -Goldman Sachs Group Inc reported a 66% surge in third-quarter earnings that swept past expectations on Friday, as Wall Street’s biggest investment bank rode a record wave of M&A activity that has also boosted profit for other big U.S. banks.FILE PHOTO: A view of the Goldman Sachs stall on the floor of the New […]

Profit at bid target Morrisons falls 37% on COVID hit

LONDON (Reuters) -British supermarket group Morrisons, at the centre of a bid battle between two U.S. private equity firms, on Thursday reported a 37.1% fall in first-half profit, hurt by COVID-19 costs and lost profit in cafes, fuel and food-to-go areas.FILE PHOTO: Shopping trolleys are parked at a Morrisons supermarket in south London, Britain, August […]

Thomson Reuters second-quarter operating profit falls 14%, rev rises

Slideshow ( 3 images )NEW YORK (Reuters) – Thomson Reuters Corp reported lower second-quarter operating profit on Thursday but higher sales across its main divisions, and said customers’ prospects were improving with the economy. The parent company of Reuters News said revenues rose 9% to $1.53 billion, compared to expectations of $1.5 billion. Adjusted earnings […]

Biogen says uptake on new Alzheimer's drug slower than expected

(Reuters) -Biogen Inc on Thursday said getting hospitals and clinics to use its new Alzheimer’s disease drug Aduhelm and insurers to reimburse it has been slower than it expected, as controversy mounts over the U.S. Food and Drug Administration’s approval process for the treatment.FILE PHOTO: A sign marks a Biogen facility in Cambridge, Massachusetts, U.S. […]

GameStop gains as traders await quarterly report

(Reuters) – GameStop’s stock jumped 7% on Wednesday before the company was due to release its quarterly results, which a cult following of individual investors will scrutinize for progress in the videogame retailer’s turnaround amid this year’s rally in its shares.FILE PHOTO: Outside a GameStop store people line up to purchase a Sony PS5 gaming […]