Ford announces it will miss its fourth-quarter earnings estimates. Andrew Osterland Published 4:25 pm CST, Wednesday, January 16, 2019 Photo: Boris Roessler | Getty Images Photo: Boris Roessler | Getty Images Image 1 of / 1 Caption Close Image 1 of 1 Photo: Boris Roessler | Getty Images Ford Formally Announces a Partnership With Volkswagen, But Its Stock Price Still Falls 1 / 1 Back to Gallery The stock market continues to move on from the "bear market" it briefly entered (down 20 percent or more), during the holiday season. The Dow index was up 0.59 percent today and has risen more than 11 percent since a Christmas Eve bottom. The S&P 500 and Nasdaq Composite indexes gained … [Read more...] about Ford Formally Announces a Partnership With Volkswagen, But Its Stock Price Still Falls
Jan 15, 10:03 AM EST Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Dawn Geske 01/15/19 AT 10:03 AM Children’s clothing company, Gymboree Group Inc., may file for bankruptcy protection for a second time in two years this week, shuttering the majority of its 900 stores.The company operates the Gymboree, Janie and Jack, and Crazy 8 kids clothing brands. Along with closing most of its retail locations, Gymboree Group is looking to sell off its well-performing Janie and Jack brand, which holds 139 locations, CNBC reported.The bankruptcy protection may provide Gymboree Group time to find a suitable buyer for its brands, in particular, the high-end Janie and Jack brand that it is looking to offload, The Wall Street Journal reported.Gymboree Group has hired Stifel Financial Corp as its restructuring advisor and Miller Buckfire & Co. to search for a buyer for the three brands, the news outlet reported.Gymboree Group filed for … [Read more...] about Gymboree Bankruptcy: What Stores Will Be Closing?
By Natasha Rausch Bloomberg Mon., Jan. 14, 2019 Lululemon Athletica Inc. rose the most in more than four months after the yogawear company boosted its quarterly sales and profit forecast ahead of the ICR Conference in Orlando this week. The move follows a series of holiday sales misses last week and prompted a chorus of praise from analysts. “In what is turning out to be a more mixed holiday for retailers, we view these results as industry leading,” a MKM Partners analyst wrote. The company said comparable-store sales increased in the high-single to low-double digits for the current quarter, which ends Feb. 3. Lululemon also sees total sales and adjusted profit coming in higher than its previous forecasts. Here’s what Wall Street is saying: Stifel, Jim Duffy Article Continued Below Lululemon’s guidance for stronger-than-anticipated holiday season stands out in the retail sector and highlights “continued brand resonance and … [Read more...] about Lululemon jumps as Wall Street says holiday sales stand out
Heavier snowfall in November didn’t deliver an expected surge in bookings at Vail Resorts’ properties, causing shares of the Broomfield company to do an ugly face plant on Friday. “Despite the good conditions, our destination guest visitation was much lower than anticipated in the pre-holiday period, particularly December 1st through December 21st,” CEO Robert Katz said in an update to investors released on Friday. Investors had expected that heavier snowfalls, which resulted in earlier openings, would translate into stronger bookings into December. But it appears visiting skiers, conditioned to a string of poor starts, held back. And a warmup in December didn’t help things. “We believe this was driven by destination guests’ concerns from two prior years of poor pre-holiday conditions at our U.S. resorts, and we did not see the pickup in short-term bookings we had expected,” Katz said. For the second time in two months, Vail … [Read more...] about Shares of Vail Resorts wipe out for second time in two months as stock dives 13 percent
By Sarah E. Needleman WSJ Thu., Jan. 10, 2019 Activision Blizzard Inc. is cutting ties with the videogame studio behind one of its biggest hits, a surprise move that knocked its stock down more than 6.5% and adds to questions about whether the company has a robust enough slate of games for 2019. Bungie Inc., the Bellevue, Wash., development studio responsible for the science-fiction shooter “Destiny,” is purchasing the publishing rights for the franchise, Activision Blizzard said Thursday. Terms of the deal weren’t disclosed. The two had a partnership dating back to 2010. Neither company discloses sales for Destiny, but Activision Blizzard executives in November told analysts the latest content released for the series didn’t live up to the company’s expectations. Some analysts had already raised concerns about Activision Blizzard’s release slate for the year, particularly after its Blizzard Entertainment division announced no new … [Read more...] about Activision Blizzard Splits With ‘Destiny’ Studio