retail
Children’s Place (NASDAQ: PLCE) stock price continued crashing this week, moving to a low of $6.72, its lowest point since 1998. This is a sharp collapse for a company that was trading at $155.20 in October 2022. A $10,000 investment during its peak price would now be worth about $430. Short sellers have prevailedThe Children’s Place has become one of the worst-performing companies in Wall Street this year. Its stock has plunged by more than 71% this year and by over 77% in the past 12 months. This sell-off intensified after the company warned that it would delay publishing its annual report, ...
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eBay Inc (NASDAQ: EBAY) is in the red in extended hours today even though it came in ahead of Street estimates for its fiscal Q1. eBay stock down on muted guidanceThe stock is taking a hit primarily because the management failed to impress with its guidance. $EBAY now forecasts its revenue to fall between $2.49 billion and $2.54 billion on up to $1.15 of per-share earnings. Analysts, in comparison, were at $2.56 billion and $1.14, respectively. Jamie Iannone – the chief executive of eBay Inc said in a press release today: Our accelerating pace of innovation is fundamentally changing the sellin...
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Leggett & Platt (NYSE: LEG) stock price plunged by more than 37% on Wednesday as the company lost its dividend king status. It crashed to a low of $11.5, its lowest level since October 11th. It has plunged by over 76% from its highest level in 2021. $10,000 invested in the company during its peak would be about $2,200 today. Dividend king stumblesLeggett & Platt, a leading manufacturer of bedding components, home and work furniture products, and floor underlayment solutions, has lost its dividend king status. The company, which has boosted its dividends for 52 years, announced that it would sl...
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Walgreens Boots Alliance (NYSE: WBA) stock price has become a toxic wasteland. It crashed to a low of $17 on Wednesday, much lower than its all-time high of $71.50, a 76% plunge. Walgreens has lost $85 billion in valueIts market cap has plummeted from over $100 billion to about $15 billion, a move that has left it severely undervalued. Data by SeekingAlpha shows that the company spots a forward PE ratio of 5.50, which is lower than its five-year average of 8.46 and the sector median of 5.49. Walgreens Boots Alliance is not the only pharmaceutical company that is struggling. Earlier this week, ...
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MercadoLibre (NASDAQ: MELI) stock price will be in the spotlight on Thursday as investors focus on the company’s financial results. It has risen to a high of $1,485 from a low of $1,325, its lowest point since November last year. It remains in a bear market as it retreated by over 20% from its highest point in 2023. MercadoLibre earnings aheadMercadoLibre, the leading e-commerce and fintech company in Latin America, has been one of the fastest-growing firm in the industry. The company’s annual revenue has soared from $2.2 billion in 2019 to over $14.4 billion. Analysts believe that the company...
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San Francisco (AFP) - E-commerce titan Amazon on Tuesday said profit in the first three months of 2024 tripled as its cloud, ads, and retail businesses thrived. Amazon shares were up about one percent in after-market trades that followed release of the earnings figures, with Wall Street keeping a close eye on the impact of AI as well as costs involved. "It was a good start to the year across the business," Amazon chief executive Andy Jassy said in an earnings release. The Seattle-based company reported $10.4 billion in profit on revenue of $143.3 billion, compared with a profit of $3.2 billion...
AFP
Amazon.com Inc (NASDAQ: AMZN) is trading up in extended hours on Tuesday after reporting better-than-expected financial results for its first quarter. AWS topped expectations againThe stock is being rewarded also because Amazon Web Services (AWS) remained strong in Q1, as per the earnings report. The cloud-computing platform brought in $25 billion in revenue (up 17% year-over-year). Analysts, in comparison, were at $24.5 billion. Andy Jassy – the chief executive of Amazon said in a press release today: The combination of companies renewing their infrastructure modernization efforts and the app...
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MANILA, Apr 30, 2024 - (ACN Newswire) - Building on the resounding success of the Retail & E-commerce Summit Asia (RESA) held across Southeast Asia last year, rockbird media sets the stage for the summit’s next edition in Manila themed, “Retail Revolution: Setting the Landscape Ablaze”. The Philippines has emerged as a digital powerhouse, boasting 85.16 million internet users and a penetration rate of 73.1% as of 2023. With the e-commerce sector playing a pivotal role in the country's economic landscape, the Retail & E-commerce Summit Asia 2024 comes at an opportune time to explore its evolvi...
ACN Newswire
German trade union Verdi has called on workers at furniture maker IKEA and the wholesaler Metro to strike on Friday as part of a long-running wage dispute in the retail sector. Rallies are planned throughout Germany in city centres or at the affected retailers - including in Hamburg, Berlin, Erfurt, Kassel, Nuremberg and Bremen. "Both companies wield a lot of influence in the employers' collective bargaining committees and are not using this to push negotiations towards an agreement," said Verdi national executive Silke Zimmer on Thursday. IKEA shrugged off the threat, saying it is not expecti...
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