Retailers who were hoping for some holiday cheer have found coal in their stockings this year.
According to MasterCard's (MA) SpendingPulse report, retail sales leading up to Christmas rose a paltry 0.7% from last year, which wasn't exactly a stellar year for retailers either. And it was far below the 3% to 4% analysts had expected.
It's been a couple of tough months for retailers, no thanks to Superstorm Sandy. Sales fell MORECatherine Tymkiw - Dec 26, 2012 12:26 PM ET
Anyone spare a dollar?
Dollar General (DG) is having a rough day after reporting decent earnings but less-than-stellar guidance. Shares slumped nearly 5% Tuesday.
The discount retailer beat earnings-per-share estimates by 3 cents but that's where the good news ends. Revenue was just in line with forecasts, and Dollar General's outlook left investors with little to cheer about.
"Although our performance over the Thanksgiving weekend and start of the holiday season has MORECatherine Tymkiw - Dec 11, 2012 11:55 AM ET
Abercrombie & Fitch's stock surged more than 30% Wednesday, logging the biggest one-day jump since its stock market debut in 1996.
The big move came as the teen retail giant posted its first quarter of year-over-year profit growth in a year. For the three months ended Oct. 27, Abercrombie earned $71.5 million, or 87 cents per share, up 40% from a year earlier. Overall revenue rose 9% for the quarter to MOREHibah Yousuf - Nov 14, 2012 12:16 PM ET
Ford and GM rallied Wednesday after both automakers topped third-quarter earnings forecasts, despite soaring losses in Europe.
Shares of Ford (F) climbed more than 5%, as the company's record profit of $2.3 billion in North America helped offset its $468 million loss in Europe, bringing losses in Europe so far this year to just over $1 billion.
Meanwhile, General Motors (GM), the largest U.S. automaker, reported a third-quarter profit that trounced analysts' estimates. Though MOREHibah Yousuf - Oct 31, 2012 1:12 PM ET
The New York Times Company's stock plummeted Thursday, after the company reported a surprise third-quarter loss, driven by a 9% decline in advertising revenue.
Print ad revenue sank more than 10%, while digital ad sales fell 2% "largely due to the challenging economic environment," and a "complex and fragmented digital advertising marketplace," the company said, adding that it expects the trend to continue during the fourth quarter.
The weakness in ad sales resulted MOREHibah Yousuf - Oct 25, 2012 4:45 PM ET
Advanced Micro Devices became the latest victim of the sluggish PC market Friday, after the chipmaker warned that third-quarter revenue could decline 10% from the previous quarter.
AMD's shares tumbled 14% following the warning.
The gloomy projection comes as the company faces "weaker than expected demand across all product lines caused by the challenging macroeconomic environment," and is far worse than what the company's management was originally expecting. In July, AMD said it MOREHibah Yousuf - Oct 12, 2012 5:40 PM ET
On paper, it was a really tough quarter for J.C. Penney (JCP), but CEO Ron Johnson was successful in convincing investors that the company is moving in the right direction.
The retailer, which launched an overhauled pricing strategy in February, lost $147 million during the second quarter, nearly three times more than analysts were expecting. Sales were extremely weak, falling 23% overall from a year earlier, and same store sales, a key gauge MOREHibah Yousuf - Aug 10, 2012 12:57 PM ET
Even the dollar value menu couldn't coax consumers to McDonald's in July.
Same-store sales were flat in the United States and Europe, and sales were down 1.5% throughout Asia, the Middle East and Africa.
The house that Ronald McDonald built did try but "promotional activity" couldn't offset the sluggish global economy, the company said in a statement. One bright spot was the most important meal of the day: Breakfast.
McDonald's (MCD) said consumers MORECatherine Tymkiw - Aug 8, 2012 3:49 PM ET
Shares of Abercrombie & Fitch (ANF) were being dissed by investors Thursday after the teen retailer issued disappointing guidance for its second quarter.
The company blamed challenging "macroeconomic conditions" for an expected slowdown in sales growth. Abercrombie, once considered a must-have by trendy teens, has had a rough time since last year. No one is suggesting that last November's lawsuit by Mike "The Situation" Sorrentino of MTV's "Jersey Shore" is to MORECatherine Tymkiw - Aug 2, 2012 1:40 PM ET
Shares of Harley-Davidson fell sharply Wednesday after the motorcycle giant's second-quarter sales figures fell short of Wall Street's estimates.
Sales were particularly weak in Europe, where dealers sold just 14,639 motorcycles, 9% fewer than last year.
"We continue to remain cautious in our expectations for retail sales globally in an environment of greater economic uncertainty, including in Europe where sales are clearly being affected by the challenging eurozone economy," said CEO Keith Wandell.
Related: Car sales stall MOREHibah Yousuf - Aug 1, 2012 1:28 PM ET
|Here's what the last government shutdown looked like|
|Macau casino heist: $6 million in chips stolen from lavish Wynn casino|
|Amazon hikes the price of Prime monthly memberships by 18%|
|Twitter to tell 677,775 people they interacted with Kremlin-linked trolls|
|Amazon's HQ2: Experts reveal their predictions|