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nordstrom has strong fourth quarter, but full-line stores continue slide


nordstrom handily beat wall street expectations for its fourth quarter, with both profits and revenues up from a year ago. comparable sales at its full-line stores fell for the sixth straight quarter, however.nordstrom handily beat wall street expectations for its fourth quarter, with both profits and revenues up from a year ago.the upscale retailer reported earnings per share of $1.15 for the quarter ended jan. 28. that was up 15 percent from the year-ago period.excluding certain items, the adjusted earnings came to $1.37 per share, easily exceeding the $1.15 wall street consensus estimate from s&p global market intelligence.related storynordstrom’s big, beautiful stores are losing groundnordstrom’s revenue of $4.32 billion for the quarter, up 2.9 percent from a year ago, also beat wall s






tesla loss narrows in fourth quarter


tesla inc.’s fourth-quarter loss narrowed in its latest quarter, after the company marked its second-best period of sales thanks to the introduction of the model x sport-utility vehicle.the palo alto, calif., company reported a loss of $121.3 million, or...






target to reduce prices, launch new brands as sales, profits fall


new york — target corp. said this morning it would lower prices and launch more than 12 new exclusive brands to jump-start sales that continued falling in the most recent quarter.the minneapolis-based retailer reported fourth-quarter sales and profits that came in lower than analysts’ expectations and laid out a forecast for lower comparable store sales for the coming year. its shares fell 13 percent in early trading.comparable sales in the fourth quarter, which included the holiday period, dropped 1.5 percent, at the low end of its revised forecast. lower store sales were partially offset by a 34 percent increase in digital sales.profits dropped 43 percent to $817 million, compared to $1.4 billion in the same quarter a year ago. adjusted for one-time items, target reported earnings per sh






gap raises fourth-quarter earnings outlook on better sales


new york — gap inc. is raising its earnings outlook after delivering a solid sales performance during the critical holiday shopping period.the san francisco, california-based company said fourth-quarter revenue at stores opened at least a year rose 2 percent.by division, gap's namesake stores saw the key measure unchanged, while old navy enjoyed a 5 percent gain. banana republic posted a 3 percent decline.the clothing chain has been trying to recover from a long-running malaise.gap said it now expects earnings for the fourth-quarter to be 50 cents to 51 cents per share on an adjusted base. analysts surveyed by factset had been expecting 44 cents per share.gap's stock rose more than 3 percent in after-market trading.






express has retail woes, too


5 connect 1 linkedinemailmoreshares of apparel retailer express fell more than 10% as the columbus, ohio-based company said wednesday that discounting and decreased mall shopping affected its fourth-quarter results.the company also announced plans to offer a better selection of merchandise.in the fourth quarter of 2016, net sales decreased 11% to $678.8 million from $765.6 million a year earlier. comparable sales, which includes e-commerce, were down 13% versus the 4% increase in the fourth quarter of 2015. in addition, the company's merchandise margin dropped 330 basis points due to more promotional offers."these initiatives include improving the fashion clarity in our stores through reduced choice counts, launching a new brand campaign, introducing compelling new products, and improving






best buy's q4 disappoints on impact of galaxy note 7 recall


best buy's fourth quarter is typically the star of the brand's fiscal year, but a lack of product availability cut into sales and drove down its outlook for the current quarter.more tech earningsbest buy ceo hubert joly said q4 revenue at the consumer electronics chain was "hindered by unprecedented product availability" as well as considerable weakness in gaming, tablets, wearables, and mobile phone sales. best buy had cautioned investors back in november that the samsung galaxy note 7 recall could hurt comparable sales in the fourth quarter by as much as $200 million, and that's now turned out to be the case. the retailer reported a 0.9-percent decline in us same-store sales versus an expected increase of 0.4 percent. joly also told analysts on a conference call that the stunted supply o






best buy's q4 disappoints on impact of galaxy note 7 recall


best buy's fourth quarter is typically the star of the brand's fiscal year, but a lack of product availability cut into sales and drove down its outlook for the current quarter.more tech earningsbest buy ceo hubert joly said q4 revenue at the consumer electronics chain was "hindered by unprecedented product availability" as well as considerable weakness in gaming, tablets, wearables and mobile phone sales. best buy had cautioned investors back in november that the samsung galaxy note 7 recall could hurt comparable sales in the fourth quarter by as much as $200 million, and that's now turned out to be the case. the retailer reported a 0.9 percent decline in us same-store sales versus an expected increase 0.4 percent. joly also told analysts on a conference call that the stunted supply of ot






best buy's q4 disappoints on impact of galaxy note 7 recall


best buy's fourth quarter is typically the star of the brand's fiscal year, but a lack of product availability cut into sales and drove down its outlook for the current quarter.more tech earningsbest buy ceo hubert joly said q4 revenue at the consumer electronics chain was "hindered by unprecedented product availability" as well as considerable weakness in gaming, tablets, wearables and mobile phone sales. best buy had cautioned investors back in november that the samsung galaxy note 7 recall could hurt comparable sales in the fourth quarter by as much as $200 million, and that's now turned out to be the case. the retailer reported a 0.9 percent decline in us same-store sales versus an expected increase 0.4 percent. joly also told analysts on a conference call that the stunted supply of ot






express shares fall 14% as store's results are hurt by discounts and fewer mall


express inc.'s sales have suffered as fewer people shop at malls.(photo: ap) 6 connect 10 linkedinemailmoreshares of express inc. fell 14% as the apparel chain said wednesday that discounting and fewer mall shoppers hurt its fourth-quarter results.the company also announced plans to offer a better selection of merchandise.in the fourth quarter of 2016, net sales decreased 11% to $678.8 million from $765.6 million a year earlier. comparable sales, which includes e-commerce, slid 13% versus the 4% increase in the fourth quarter of 2015. net income fell to $22.8 million, or 29 cents per diluted share, compared with $56.1 million, or 67 cents in the same period a year earlier. in addition, the company's merchandise margin dropped 330 basis points due to more promotional offers."these initiativ






express shares fall 14% as store's results are hurt by discounts and fewer mall


express inc.'s sales have suffered as fewer people shop at malls.(photo: ap) 6 connect 15 linkedinemailmoreshares of express inc. fell 14% as the apparel chain said wednesday that discounting and fewer mall shoppers hurt its fourth-quarter results.the company also announced plans to offer a better selection of merchandise.in the fourth quarter of 2016, net sales decreased 11% to $678.8 million from $765.6 million a year earlier. comparable sales, which includes e-commerce, slid 13% versus the 4% increase in the fourth quarter of 2015. net income fell to $22.8 million, or 29 cents per diluted share, compared with $56.1 million, or 67 cents in the same period a year earlier. in addition, the company's merchandise margin dropped 330 basis points due to more promotional offers."these initiativ






express shares fall 14% as store's results are hurt by discounts and fewer mall


express inc.'s sales have suffered as fewer people shop at malls.(photo: ap) 6 connect 8 linkedinemailmoreshares of express inc. fell 14% as the apparel chain said wednesday that discounting and fewer mall shoppers hurt its fourth-quarter results.the company also announced plans to offer a better selection of merchandise.in the fourth quarter of 2016, net sales decreased 11% to $678.8 million from $765.6 million a year earlier. comparable sales, which includes e-commerce, slid 13% versus the 4% increase in the fourth quarter of 2015. net income fell to $22.8 million, or 29 cents per diluted share, compared with $56.1 million, or 67 cents in the same period a year earlier. in addition, the company's merchandise margin dropped 330 basis points due to more promotional offers."these initiative






gilead sciences and container store skid; nordstrom climbs


new york — stocks that moved substantially or traded heavily wednesday:nordstrom inc., up $1.75 to $44.53after initially slipping, the stock recovered after president donald trump criticized the retailer for treating his daughter "so unfairly."gilead sciences inc., down $6.30 to $66.83the biotechnology company forecast disappointing sales as revenue from its hepatitis c drugs weakens.myriad genetics inc., up $1.12 to $16.52the diagnostic test company said sales of hereditary cancer tests started growing again in the latest quarter.container store group inc., down 52 cents to $3.80the storage products retailer said holiday stores were disappointing.bank of america corp., down 23 cents to $22.67financial stocks slumped as bond yields and interest rates moved lower.goodyear tire & rubber






amazon’s profit jumps, but sales growth disappoints


amazon.com inc. on thursday posted a 55% rise in fourth-quarter profit, turning its banner holiday season into a sustained streak of profitability.however, shares of amazon fell 3.4% to $811.50 in after-hours trading as the company’s total sales fell short of analyst expectations, as did its outlook for the current quarter.for the...






amazon’s profit jumps, but sales growth disappoints


amazon.com inc. on thursday posted a 55% rise in fourth-quarter profit, turning its banner holiday season into a sustained streak of profitability.however, shares of amazon fell 3.9% to $806.50 in after-hours trading as the company’s total sales fell short of analyst expectations, as did its outlook for the current quarter.for the...






target to reduce prices, launch new brands as profits fall


new york — in advance of its investors meeting in new york tuesday morning, target corp. said it would make investments to lower prices and launch more than 12 new exclusive brands in an effort to jump-start sales that continued to falter in the most recent quarter.the minneapolis-based retailer reported fourth-quarter sales and profits that came in lower than analysts’ expectations.comparable sales in the quarter, which included the holiday period, dropped 1.5 percent, at the low end of its revised forecast. lower store sales were partially offset by a 34 percent increase in digital sales.profits dropped 43 percent to $817 million, compared to $1.4 billion in the same quarter a year ago. adjusted for one-time items, target reported earnings per share of $1.45, lower than the $1.51 analyst






sotheby's and tegna climb while aes and shutterstock slump


new york — stocks that moved substantially or traded heavily monday:sotheby's inc., up $6.30 to $46.39the auction house had a strong fourth quarter and said it expects to do well as the art market recovers.aes corp., down 79 cents to $11.14the power company's fourth-quarter results and outlook fell short of wall street estimates.kroger co., down $1.07 to $32.22grocery stores and other household products companies slipped on monday.tegna inc., up 86 cents to $25.66the broadcast and digital media company's fourth-quarter profit was greater than expected.verizon communications inc., down 66 cents to $49.94phone company stocks struggled as bond yields bounced back from a steep decline friday.national oilwell varco, up $1.31 to $41.10with the price of oil rising, shares in energy companies made






tesla global vehicle sales rose 69% in first quarter to 25,000


tesla inc. on sunday said its global sales rose 69% in the first quarter, its best quarter of sales yet, putting the auto maker on a path to meet its goal of 50,000 deliveries in the first half of the year. the silicon valley electric-car maker said it delivered roughly 25,000 vehicles—about 13,450 model s sedans and about 11,550 model x sport-utility vehicles—in the quarter, compared with a total of 14,820 a year earlier....






apple surpasses samsung in smartphone sales for fourth quarter of 2016


why it matters to you smartphone sales increased by five percent from 2015, meaning our world is becoming even more interconnected as companies look to get more people online.the galaxy note 7 is still hurting samsung — apple has surpassed the south korean giant in selling more smartphones globally in the fourth quarter of 2016.to be more precise, apple sold 77.04 million smartphones in the fourth quarter, according to estimates from gartner. the cupertino, california, company has a thin lead, though, as it only sold 256,000 more than samsung’s  76.78 million units.more: uber finally lets android wear owners hail rides with their smartwatchesit’s the second quarter in a row that samsung has seen falling sales, all likely due to the galaxy note 7 recall. on the flip side, this is the first






fastenal reports strong second-quarter results


fastenal co. is feeling a little more like its old self after reporting its best sales and earnings growth since the fourth quarter of 2014.“the second quarter of 2017 felt more like fastenal,” said dan florness, president and chief executive. “we have grown well over the last year, but market headwinds have masked this growth.”the winona-based distributor of construction and industrial supplies reported revenue of $1.1 billion, up 10.6 percent over the second quarter last year. earnings were $148.9 million, or 52 cents per share, up 13.2 percent over last year.the strong growth was better than analysts had expected. the consensus among 17 analysts tracked by thomson reuters was that the company would earn 50 cents per share. fastenal also beat the consensus sales estimate.underlying marke






fastenal reports strong second quarter results


fastenal co. is feeling a little more like its old self after reporting its best sales and earnings growth since the fourth quarter of 2014."the second quarter of 2017 felt more like fastenal," said dan florness, president and chief executive. "we have grown well over the last year, but market headwinds have masked this growth."the winona-based distributor of construction and industrial supplies reported revenue of $1.1 billion, up 10.6 percent over the second quarter last year. earnings were $148.9 million, or 52 cents per share, up 13.2 percent over last year.the strong growth was better than analysts had expected. the consensus among 17 analysts tracked by thomson reuters was that the company would earn 50 cents per share. fastenal also beat the consensus sales estimate.underlying marke






apple’s services business grows 18% as iphone sales stall


apple just announced their earnings for q1 2017. the company reported $52.9b in revenue with eps of $2.10, which slightly beat consensus estimates of $2.02.but perhaps more importantly, this quarter’s revenue from services was $7.04b, which represents 18% growth year-over-year for the category, the same yoy growth percentage seen last quarter.and while revenue from services last quarter was a little better at $7.17b, this is mainly due to the large sales bump apple gets from the holiday season. in fact, revenue from services this quarter is only -2% compared to last quarter, which is insane when you consider that revenue from iphone sales this quarter are -39% compared to last quarter.essentially services are a category where revenue can stay relatively stable quarter to quarter even when






apple sees strong holiday sales ahead, powered by iphone x


cupertino — apple expects a christmas feast this holiday-shopping season, thanks to in-store sales kicking off friday for its deluxe iphone x.the cupertino-based iphone maker on thursday forecast between $84 billion and 87 billion in revenue for the october-through-december quarter, showing bullish confidence in the iphone x’s popularity.“i couldn’t be more excited about apple’s future,” said apple ceo tim cook in the earnings call. “as we approach our holiday season, we expect it to be our biggest quarter ever.”as cook lauded his company’s performance in the earnings call, the iphone x officially went on sale in australia. cook said several hundred people were waiting outside sydney’s apple store to purchase the new phone.following the earnings results, apple shares jumped 3 percent highe






nj drugmaker scores big profits off of cancer drugs in recent quarter: report


kenilworth– pharmaceutical giant merck reported a 21 percent jump in fourth-quarter profits fueled partly by the rising sales of drugs for cancer and hepatitis c, news 4 new york reported friday. along with sales of ketyruda and the hepatitis treatment zepatier, company officials also attributed increased profits to an aggressive round of cost-cutting. ketyruda, which was…






cisco systems' stock takes a beating as outlook disappoints


san jose — cisco systems reported better-than-expected third-quarter earnings wednesday and sales that were in line with wall street forecasts, but the network-equipment giant’s outlook had investors dumping cisco’s stock in after-hours trading.cisco shares fell more than 5 percent in post-market activity as the company forecast fourth-quarter earnings of between 60 cents and 62 cents a share, excluding one-time items. cisco also said it expects revenue for the quarter to fall between 4 percent and 6 percent from the $12.6 billion it reported a year ago.that forecast would put cisco’s sales in a range of $11.84 billion to $12.1 billion. analysts surveyed by bloomberg had forecast cisco to earn 62 cents a share on $12.5 billion for the quarter that ends in july.cisco’s forecast took the shi






​samsung takes smartphone top spot from apple in q1


samsung electronics took 26.1 percent market share in the first quarter of 2017, becoming the largest vendor in the quarter ahead of apple's 16.9 percent, trendforce said.apple was number one in the fourth quarter of last year with 20.3 percent, while samsung was 18.5 percent.the south korean tech giant's sales results for its high-end smartphones fell short of expectations in the first quarter as consumer confidence in the brand had yet to fully recover from the recall of galaxy note 7, the market consultancy said.latest news on asiathe price-competitive galaxy j series contributed significantly to sustain shipment, it said.non-apple vendors, including samsung which just launched the galaxy s8, will see their shipment flatten until the second half of the year due to consumers holding off






hp revenue grows again on pc rebound


hp inc. said sales rose for a second straight quarter after a prolonged slump, as the personal-computer business showed further signs of life.the palo alto, calif., company on wednesday said revenue in the quarter that ended jan. 31 rose 4% from a year earlier, with sales of notebook pcs especially strong. sales in its printer business slipped 3%, however, a smaller decline than in other recent quarters but one that illustrates...






tesco recovery gathers pace in the uk


image copyrightgetty imagestesco is cementing its recovery in the uk after its first-quarter sales growth beat expectations.like-for-like sales - which strip out the impact of new stores - rose by 2.3% in the three months to 27 may, boosted by demand for fresh food.analysts had expected a rise of 2.2% after tesco reported an increase of 0.7% in the fourth quarter.tesco will face shareholders on friday who are expected to question a pay deal awarded to chief executive dave lewis.mr lewis was given a £142,000 package to help him move to a house closer to tesco's headquarters in welwyn garden city. this was on top of his £4.1m pay packet. he defended the relocation costs, saying that similar payouts were made to other members of staff."we move a lot of people around - store managers in partic






tesco recovery gathers pace in the uk


image copyrightgetty imagestesco is cementing its recovery in the uk after its first-quarter sales growth beat expectations.like-for-like sales - which strip out the impact of new stores - rose by 2.3% in the three months to 27 may, boosted by demand for fresh food.analysts had expected a rise of 2.2% after tesco reported an increase of 0.7% in the fourth quarter.tesco will face shareholders on friday who are expected to question a pay deal awarded to chief executive dave lewis.mr lewis was given a £142,000 package to help him move to a house closer to tesco's headquarters in welwyn garden city. this was on top of his £4.1m pay packet. he defended the relocation costs, saying that similar payouts were made to other members of staff."we move a lot of people around - store managers in partic






king soopers parent kroger sees same-store sales slide – the denver post


kroger co., the parent company of king soopers, said comparable-store sales unexpectedly fell during its latest quarter as the company said it was continuing to focus on market share.shares in the supermarket chain, which have slipped 3.7 percent in the past three months, fell 4 percent in early trade.excluding fuel sales, identical-supermarket sales, a closely watched metric, fell 0.7 percent for the fourth quarter, compared with a 3.7 percent rise a year earlier and below the 0.1 percent increase expected by analysts polled by factset.for 2017, kroger expects comparable-store sales growth of zero to 1 percent, below analysts’ expectations of 2.1 percent growth.the supermarket chain expects annual net earnings to range from $2.21 to $2.25 a diluted share; analysts polled by thomson reuter






apple did a lot more than just smash its iphone sales record


here's how apple smashed its previous iphone sales record. but despite the silver lining, a dark cloud is looming.must read:five things you shouldn't buy from apple78.29 million is a new record for iphones sold by apple in a quarter, up 5 percent on the year-ago quarter and 72 percent on the previous quarter, and beating the 74.78 million sold in 1q16 and 74,47 million sold in 1q15. good numbers, but how is the iphone's average selling price (asp) doing? it's doing spectacularly well, jumping to $695, beating the $691 of 1q16, and a m ive jump from the $618 that is was in 4q16. this is a clear sign that the iphone 7 is selling strongly, and that the higher-priced iphone 7 plus is also going well. it's also an indication that the drag that the lower-priced iphone se was having on sales is n






canada gdp growth surprises with 2.6% fourth-quarter gain


ottawa—canada’s economy grew in the fourth quarter and exceeded expectations by a healthy margin, on the strength of consumer demand for automobiles and financial-services products, and a rebound in real-estate investment.exports also advanced, although at a slower pace than the previous quarter. meanwhile, business investment declined for a ninth straight quarter, and inventories subtracted from growth.canada’s gross...






canada gdp growth surprises with 2.6% fourth-quarter gain


ottawa—canada’s economy grew in the fourth quarter and exceeded expectations by a healthy margin, on the strength of consumer demand for automobiles and financial-services products, and a rebound in real-estate investment.exports also advanced, although at a slower pace than the previous quarter. meanwhile, business investment declined for a...






ferrari posts record first quarter on v12 sales


milan — luxury italian sports carmaker ferrari has announced a record first quarter as sales of its v12 models boosted profits by 60 percent.ferrari, based in the northern italian city of maranello, on thursday announced net profits of 124 million euros ($136 million) in the first quarter, up from 78 million euros a year earlier.revenues were up by 22 percent to 821 million euros, with shipments growing by 6 percent to 2,003 units. deliveries of 12-cylinder v12 models rose by half.sales in europe grew by 9 percent, powered by double-digit sales in germany, france, italy and britain, while deliveries rose 4 percent each in the americas and the asian pacific, which excludes greater china, where sales were up 3 percent.






apple’s services business grows 18% as iphone sales stall


apple just announced their earnings for q1 2017. the company reported $52.9 billion in revenue with eps of $2.10, which slightly beat consensus estimates of $2.02.but perhaps more importantly, this quarter’s revenue from services was $7.04 billion, which represents 18 percent growth year-over-year for the category, the same yoy growth percentage seen last quarter.and while revenue from services last quarter was a little better at $7.17 billion, this is mainly due to the large sales bump apple gets from the holiday season. in fact, revenue from services this quarter is only -2 percent compared to last quarter, which is insane when you consider that revenue from iphone sales this quarter are -39 percent compared to last quarter.essentially services are a category where revenue can stay relat






just how bad were those iphone sales?


apple's plan to push iphone sales into positive territory for 2017 has stalled, with sales taking a surprise dip.must read: iphone 8: here's what we think we know about apple's 10th-anniversary iphoneiphone sales of 50.8 million means a 1 percent unit drop year-on-year, and a whopping 35 percent drop compared to the previous quarter. that sounds pretty bad, but as i pointed out earlier this week, expectations weren't all that strong to begin with, with analysts predicting sales in the region of 50 million to 54 million, or a year-on-year of -2.14 percent to 5.48 percent, with the average being around the 52.2 million mark.apple missed the average for sure, but it kept them above 50 million.put another way, this was apple's seventh strongest iphone quarter to date. but it was the worst seco






hp gets a boost, led by pc sales gains


palo alto — hp on wednesday reported third-quarter results that surpassed wall street’s expectations and added support to the company’s ability to buck the broader-market declines afflicting much of the personal-computer industry.hp said that for the quarter ended july 31, its pc sales grew by 12 percent from a year ago, to reach $8.4 billion. total pc shipments rose 7 percent, as a 12-percent gain in notebook shipments helped counter a 3 percent decline in the number of desktop pcs the company shipped in the quarter.with its pc sales taking the lead, hp reported a profit, excluding one-time items, of 43 cents a share, on $13.06 billion in sales, compared to earnings of 48 cents a share, on revenue of $11.9 billion a year ago. while hp’s earnings declined from the same period last year, th






tablet shipments take a huge nosedive during the first quarter of 2017


global tablet shipments for the first quarter of 2017 fell by 34.5 percent compared with the previous quarter, representing a year-on-year decline of 9.3 percent, according to market intelligence firm trendforce.must read: iphone 8: here's what we think we know about apple's 10th-anniversary iphoneglobal tablet shipments for the first quarter of 2017 fell to 31.95 million units. trendforce "after experiencing a significant retreat in shipments for the first quarter, the tablet market is now focusing on the sales performance of the economically priced 9.7-inch ipad that was released towards the end of this march," said trendforce notebook analyst anita wang."at us$329, this model is the lowest priced ipad device that apple has ever offered. the product is expected to generate sales in this






tablet shipments take a huge nosedive during the first quarter of 2017


global tablet shipments for the first quarter of 2017 fell by 34.5 percent compared with the previous quarter, representing a year-on-year decline of 9.3 percent, according to market intelligence firm trendforce.must read: iphone 8: here's what we think we know about apple's 10th-anniversary iphoneglobal tablet shipments for the first quarter of 2017 fell to 31.95 million units. trendforce "after experiencing a significant retreat in shipments for the first quarter, the tablet market is now focusing on the sales performance of the economically priced 9.7-inch ipad that was released towards the end of this march," said trendforce notebook analyst anita wang."at us$329, this model is the lowest priced ipad device that apple has ever offered. the product is expected to generate sales in this






medicare disciplines fairview over patient runaway


federal regulators declared a state of “immediate jeopardy” at the university of minnesota medical center last month because the hospital allowed a 13-year-old boy diagnosed with bipolar disorder to run away from one of its psychiatric wards two days after a suicide attempt.fairview tightened security practices following the dec. 5 incident, according to a medicare inspection report released this week, but the boy’s parents remain upset about the boy’s escape and other hospital missteps they say endangered their son.“just problem after problem after problem,” said ryan jancik, a longtime boyfriend of the boy’s mother who has power of attorney over the child’s care.the boy disappeared when a the ist took him and other patients out of the hospital’s locked pediatric psychiatric unit to go fo