retail
Shares of Floor & Decor Holdings Inc (NYSE: FND) have plummeted by approximately 30% from their year-to-date high in late March, following a critical short report published by Spruce Point Capital Management on Monday. The report has raised significant concerns about the company’s financial health and strategic direction. Spruce Point’s bearish stance on Floor & DecorBen Axler, the founder of Spruce Point Capital, has highlighted several red flags that underpin his bearish outlook on Floor & Decor stock. According to Axler, the home improvement retailer has been “ceasing disclosures” and “chan...
Invezz
Chewy Inc (NYSE: CHWY) rallied close to 20% in premarket this morning after an SEC filing confirmed that “Roaring Kitty” has built a stake in the pet food and products retailer. Shares of the eCommerce company are now trading at a year-to-date high. How many shares of Chewy does Roaring Kitty own?Keith Gill (Roaring Kitty) now owns more than 9 million shares of Chewy Inc, as per the Securities and Exchange Commission filing on Monday. His stake amounts to 6.6% in total which makes him the third-largest shareholder of the New York listed firm. CHWY has been volatile since last week after Roarin...
Invezz
Adidas (ETR: ADS) share price has outperformed Nike this year as the latter has continued to report weak financial results. It has soared by over 22% in 2024 while Nike has slumped by over 10%. Nike’s sell-off accelerated in extended hours after it published weak results and guidance. Nike slashes guidanceAdidas stock price was in the spotlight on Friday after Nike slashed its guidance after publishing weak financial results. Its direct-to-consumer revenue dropped by 8% to $5.1 billion while its overall figure fell by 2% to $12.6 billion. Nike warned that its business was softening and that it...
Invezz
New York (AFP) - Nike reported higher profits due to cost-cutting efforts Thursday, but shares fell sharply on the company's tepid outlook despite a hoped-for boost from the upcoming Olympic Games. The sports giant, which has been criticized in recent times over a lack of innovation and strategic stumbles, reported a dip in quarterly revenues as executives cited a number of headwinds. These included a drop in Nike's lifestyle business, a decline in digital sales and weakness in some key markets such as China, said Chief Financial Officer Matthew Friend, adding that these factors influenced Nik...
AFP
Nike Inc (NYSE: NKE) is losing in extended hours on Thursday after coming in shy of Street estimates for its fourth financial quarter. Shares of the footwear giant are still down close to 15% versus the start of 2024. Notable figures in Nike Q4 earnings releaseEarned $1.5 billion versus the year-ago $1.03 billionPer-share earnings also improved from 66 cents to 99 centsAdjusted EPS printed at $1.01 as per the earnings reportRevenue inched down 2.0% year-over-year to $12.6 billionConsensus was 84 cents a share on $12.86 billion in revenueNike reported a 110 basis points increase in gross margin...
Invezz
Carvana Co (NYSE: CVNA) has roughly tripled this year but a JPMorgan analyst remains convinced it’s not out of room to run just yet. We come away from CVNA’s Rocklin, CA, IRC tour with higher conviction in our above consensus EBITDA. Carvana stock could climb to $150Rajat Gupta continues to rate CVNA at “overweight” and sees upside in its shares to $150 that translates to another 20% upside on their previous close. The analyst cited positive outlook and recent operational efficiencies for his positive view on Carvana stock in a research note on Thursday. More importantly, he expects efficiency...
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Chewy Inc (NYSE: CHWY) rallied about 20% this afternoon after Roaring Kitty (Keith Gill) posted a picture of a dog on X.com. Shares of the pet food and products retailer have now more than doubled versus their year-to-date low in late March. Chewy stock gains retail investors’ attentionThe equity market has been closely following updates from Roaring Kitty who inspired the historic short squeeze of 2021. His posts resulted in a massive increase in the GameStop stock price in recent months as well. Chewy shares became a target of the meme trade today after what was a rather quiet week for the r...
Invezz
Shares of H&M dropped by more than 14% on Thursday morning after the company reported a smaller-than-expected increase in second-quarter profits. The disappointing earnings report also raised concerns about the retailer’s June sales and its ability to meet full-year profit margin targets. Q2 profit falls short of expectationsH&M, the world’s second-largest retailer, announced an operating profit of 7.1 billion Swedish kroner ($672 million) for the March to May period. This figure fell short of the 7.37 billion Swedish kroner anticipated by analysts, according to a poll conducted by LSEG and ci...
Invezz
The San Francisco Board of Supervisors unanimously approved a plan to close convenience stores in a 20-block area of the Tenderloin district between midnight and 5 a.m. for the next two years. Officials say convenience stores attract nighttime illegal drug activity. Restaurants, bars, and non-retail businesses will not be affected by the law. The post Brickbat: How Inconvenient appeared first on Reason.com.
Reason
GameStop (NYSE: GME) stock price has retreated sharply in the past few weeks as the meme mania faded. After soaring to $65.20 in May, it has plunged by over 62% to the current $24.93, costing investors over $1 billion. The good and the uglyGameStop, a video game retailer, has become one of the luckiest companies in the United States. In 2021, it became the poster child of the meme stock mania, which helped it raise money by selling shares. The same trend happened in May this year as its stock surged from less than $10 to over $65. Again, the company used the surge to raise an additional $2.1 b...
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