Chico’s FAS Posts Dismal Second-Quarter Earnings Results Women’s fashion apparel and accessories retailer Chico’s FAS, Inc. reported its second-quarter results on Wednesday, and the numbers couldn’t get more depressing for its investors. In CEO Shelley Broader’s own words, “Second quarter sales were disappointing.”
Finish Line Issues Pre-Earnings Warning Athletic footwear retailer Finish Line Inc (NASDAQ:FINL) has issued an early warning to its shareholders. The company has announced preliminary numbers for its second-quarter earnings, which are due to be released next month. Management has indicated that investors should brace themselves for the worst.
Another Retail Bankruptcy in the Cards? Sports retailers are the latest bunch facing the apocalyptic tides that have drowned many big names in retail this year.
July Increase in U.S. Imports Outweighs Increase in Exports The United States’ international trade deficit widened through the month of July as the country imported more goods than it exported. According to the latest trade data shared by the U.S. Department of Commerce, America’s international trade deficit grew by 1.7% in July, compared to June.
It’s been a long summer for those with student loan debt. At the end of June, Americans owed more than $1.3 trillion in student loan debts. To put that into perspective, that’s 150% higher than what they owed a decade ago. The increase coincides with a historically high number of young adults in the U.S. (more…)
First-time home buyers looking for the white picket fence will have a better chance of seeing one in their parents’ backyard. Sales of both existing and newly built homes unexpectedly fell in July; one of the culprits, home prices were higher virtually across the board. Most notably though, the biggest price gains were at the (more…)
New Orders Falling, Inventories Building Up The latest monthly data on U.S. manufacturers’ orders, shipments, and inventory shows that new orders for durable goods fell in July while inventories built up. Data shared by the U.S. Census Bureau reveals that new orders for manufactured durable goods—that is, non-perishable goods that can last up to at (more…)
Connecticut is one of the wealthiest states in the country, but it’s drowning in debt, and the governing Democrats aren’t entirely sure what to do about it. But they’ll need to work fast to pass a budget–either that or face implementing additional spending cuts to education and municipal aid across the state.
House Sales Slow Down, Inventory Grows in July The latest data on new residential sales in the United States jointly reported by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reveals that economic activity in the U.S. housing market may be slowing down. According to the seasonally-adjusted July 2017 data, (more…)
Shares in WPP PLC (NASDAQ:WPPGY) crumped on Wednesday morning, falling by more than 12% as the ad agency reported weaker-than-expected ad buying from consumer goods companies, especially those in North America. The outlook doesn’t look good either, as the company lowered its full-year guidance.