Target’s CEO says ‘consumers continue to spend cautiously’ amid triple miss earnings report

Target CEO says ‘consumers continue to spend cautiously’ amid triple-miss earnings report

Target’s stock is set to suffer worst day in more than two years after profit, revenue, comparable sales and outlook all came in below expectations.

Business - MarketWatch - 1 hour ago

FirstFT: US consumers continue to spend, spend, spend

Also in today’s newsletter, North Korea fires its longest-ever test missile, and the activists ready to challenge the election result

World - Financial Times - October 31

Target Shares Plunge on Earnings Miss

The retailer says spending remains sluggish for apparel, TVs and home goods.

Business - The Wall Street Journal - 4 hours ago

Uber shares slide on slowing bookings growth

Forecast for customer spending on ride-hailing app fell slightly short of Wall Street’s estimates

Business - Financial Times - October 31

Target posts biggest earnings miss in two years

Target reported earnings Wednesday that came in far below Wall Street's expectations, something the big-box retailer attributed to slower than expected demand.

Meta Earnings Show Revenue Increase, Even as Spending Spree Continues

The Silicon Valley company, which owns Facebook, Instagram and WhatsApp, said it does not plan to slow down its investments anytime soon.

Business - The New York Times - October 31

Home Depot’s sales are improving, but it says consumers are still cautious about spending

Home Depot is mired in a sales slump as homeowners put off major projects.

Business - CNBC - November 12

Block reports revenue miss but a slight beat on earnings

Shares of Square parent Block tumbled in extended trading on Thursday after the company reported disappointing revenue for the third quarter.

Business - CNBC - November 8

Saudi Arabia's Neom replaces its CEO amid reports of delays and cutbacks

Neom is set to host hyper-futuristic cityscapes and structures — but financial pressures on the kingdom are changing.

Business - CNBC - November 13

Target shares plunge 20% after discounter cuts forecast, posts biggest earnings miss in two years

Target missed on earnings and revenue even as it cut prices on thousands of items, including milk, diapers and toys, to try to attract discerning shoppers.

Business - CNBC - 1 hour ago

Target Stock Plunges After Weak Earnings Report Ahead of Holiday Season

The retailer’s downbeat earnings report, which included lower profit and larger inventory, fell far short of Wall Street’s expectations.

Top stories - The New York Times - 16 minutes ago

Live Nation CEO talks consumer demand, says live music is 'a very scarce commodity'

Live Nation CEO Michael Rapino explained that the nature of live music keeps it in demand.

Business - CNBC - November 12

Yum Brands’ earnings fall short of estimates as Pizza Hut parent says consumers are still pressured

Only Taco Bell managed same-store sales gains.

Business - MarketWatch - November 5

The biggest U.S. homebuilder misses on earnings as it says buyers are staying on the sidelines

D.R. Horton, the largest U.S. homebuilder by market cap, on Tuesday reported earnings well below estimates as it said interest rates were keeping buyers on the sidelines and forcing the company to ...

Business - MarketWatch - October 29

EU should spend 20% of budget on security and climate disasters, report says

Finland’s former president reports on cost of Europe’s preparedness for multiple crises

Business - Financial Times - October 30

New Boeing CEO sets sights on 'leaner' future as quarterly loss tops $6 billion

Boeing had released preliminary results earlier this month showing a big loss and $5 billion in charges across its defense and commercial units.

Business - CNBC - October 23

CVS posts mixed results, holds off on guidance in Joyner's first earnings report as CEO

CVS expects elevated medical costs to continue to pressure its performance this year, "and as a result we are not providing a formal outlook at this time."

Business - CNBC - November 6

CEO of Europe defense company says region faces ‘wake-up call’ to boost spending

Countries have to start building capabilities and replenish stockpiles, said CEO of Swedish defense contractor Saab.

Business - MarketWatch - October 22

Myanmar airstrikes indiscriminately target civilians a rights group says in a new report

Myanmar’s military has consistently targeted civilians and their communities as a form of collective punishment in the country’s southeast since the army seized power in early 2021

World - ABC News - 4 days ago

Dana White and Francis Ngannou continue war of words as UFC CEO says former champion 'isn't a good guy'

Ngannou and White's relationship continues to deteriorate

Sports - CBS Sports - October 27

Yum Brands earnings miss estimates as KFC, Pizza Hut report same-store sales declines

KFC and Pizza Hut both reported steeper-than-expected declines in their same-store sales.

Business - CNBC - November 5

China consumer slowdown weighs on U.S. earnings again

From Apple to Starbucks, U.S. consumer brands are reporting yet another quarter of China sales declines.

Business - CNBC - November 5

Franklin Templeton CEO says focus is on 'doing what's right' for clients amid SEC probe

Franklin Templeton's largest subsidiary, Western Asset Management, saw $37 billion in outflows in the last three months.

Business - CNBC - October 31

Carlsberg Misses Sales Expectations on Weak Consumer Backdrop

The Copenhagen-based brewer didn’t meet revenue and sales volumes expectations due to a poor performance in China and other countries, but reiterated its full-year guidance.

Business - The Wall Street Journal - October 31

Wells Fargo Tripled State-Level Political Spending Since 2014

The bank has steered donations to groups seeking to influence state legislatures, attorneys general, and gubernatorial elections.

Business - Inc. - November 5

Volkswagen targets layoffs and 10% pay cuts amid plans for German plant closures, union says

Volkswagen is considering wide spread pay cuts and layoffs as well as closures or size reductions of its plants in Germany, the company's works council said Monday.

Business - CNBC - October 28

U.S. economy grew 2.8% last quarter, powered by consumer spending

Consumer confidence soared in October, signaling that Americans may continue to open their wallets.

US GDP rose at a 2.8% rate in third quarter on strong consumer spending

Final reading before presidential election was shy of expectations, but shows biggest economy is in robust health

Business - Financial Times - October 30

Trump's proposed tariffs could raise prices for consumers and slow spending

President-elect Donald Trump has proposed stiff tariffs on imported goods, which could lead to higher prices and softer spending.

Business - CNBC - November 6

Japan's economy grows for a second straight quarter on the back of consumer spending

Japan’s economy eked out an annual rate of 0.9% growth in the July-September quarter as consumer spending held up

World - ABC News - 5 days ago

Lobbying World: Consumer Brands Association taps next president and CEO

The Consumer Brands Association has selected Melissa Hockstad as the organization’s new president and CEO effective Jan. 6, 2025. Hockstad joins from the American Cleaning Institute, where she has ...

Politics - The Hill - October 23

PayPal shares fall on revenue miss, soft guidance

PayPal reported better-than-expected third-quarter earnings on Tuesday, but revenue came in slightly below expectations.

Business - CNBC - October 29

Microsoft Cloud revenue rises on AI boom but softer outlook weighs on shares

Warnings of slowing Azure growth and rising data centre costs damp initial optimism on tech giant’s quarterly earnings