Target shares sink 25% after company says high costs, inventory woes hit profits
The big-box retailer said it saw a healthy customer, but a shift to experience-based purchases, such as toys for birthday parties and luggage for trips.
The big-box retailer said it saw a healthy customer, but a shift to experience-based purchases, such as toys for birthday parties and luggage for trips.
The home improvement retailer's profit topped Wall Street estimates for the quarter, even as sales missed the mark.
Bath & Body Works cut its profit outlook for the year, in part due to expected increases in inflationary pressures.
Cisco has gone from growth to flat revenue, and now it's calling for a decline as it sees costs mounting from the war between Russia...
"Housing leads the business cycle, and housing is slowing," said NAHB Chairman Jerry Konter, a builder and developer.
Retail sales were expected to rise 1% in April, according to Dow Jones estimates.
California's state average for a gallon of gas hit a record above $6.
Fed Chair Jerome Powell said he will back interest rate increases until prices start falling back toward a healthy level.
Higher mortgage interest rates are hitting homebuyer affordability hard, and that is showing up in a sharp drop in mortgage applications.