Hints and tips:
...The S&P 500 is down almost 19 per cent so far in 2022. This would be a tough year as retailers tried to get inventory in line with sales growth, UBS’s Sole said....
...OPPD was joined by the investor-owned utility CenterPoint Energy, which announced it was extending the life of a coal unit in Indiana by two years to reduce the amount of power it has to purchase from the...
...The three joined from the S&P 400 benchmark of midsized companies and will switch places with tax software group H&R Block, Coty, a beauty company, and Kohls, a department store, which are dropping to the...
...Net losses shrunk to $200m from $227m, less than consensus estimates compiled by S&P Capital IQ, which suggested they would widen to $269m....
...At the same time, Best Buy, TJX and Kohl’s are among 126 discretionary consumer companies to draw a total $86bn from credit lines, according to Autonomous Research....
...Department store chain Kohl’s meanwhile reported a 44 per cent decline in first-quarter net sales....
...Kohl’s, which analysts had hoped would manage to improve revenues during the festive season, reported a 0.2 per cent decline in like-for-like sales from a year ago, sending shares in the S&P 500 company...
...An index of large-cap US department stores has lost 35 per cent of its value this year, making it the worst-performing subsector in the S&P 500 index....
...Analysts at credit rating agency S&P Global have been working nonstop, downgrading 121 companies and warning of the prospects of another 176 groups in part due to the global health pandemic....
...Overall, the S&P 500 retail index was off 1.3 per cent....
...It sent shares in both Nordstrom and Kohl’s, which report results next week, down about 10 per cent. JCPenney, expected to post another quarterly loss on Thursday, was down 8 per cent....
...M&S swiftly pulled it from its food range....
...The difficult day for the sector, which sent the S&P Retail index down 3.4 per cent, was capped by an announcement from Gap after the market closed that it was eyeing hundreds of store closures....
...Kohl’s lost 4.7 per cent while JC Penney shed 4.5 per cent, after this week reporting a 3.5 per cent drop in underlying like-for-like holiday season sales....
...Kohl’s upbeat quarter was overshadowed by a soft outlook that sent its shares 11 per cent lower....
...Comparable sales growth at department store chain Kohl’s slowed from 6.9 per cent a year ago to just 1.2 per cent....
...The S&P 500 retail index was up 1.6 per cent on Tuesday to 1,760.76, an all-time record. The index gained 29 per cent last year, outpacing the broader S&P 500....
...Across all of the S&P 500’s retail constituents, 5.6 per cent of shares outstanding were on loan to short sellers at the end of last week....
...Spencer Fung, chief executive of Li & Fung, which helps US retailers including Walmart and Kohl’s source their goods from factories around the world, said that while “a lot of people are desperate to move...
...This week investors will be given further insight into how several large US retailers are faring as Macy’s, Nordstrom and Kohl’s all report earnings....
...Kohl’s and Macy’s, two big US department store chains, were the best performers on Tuesday, up 6 per cent and 4.6 per cent respectively to extend their December gains to 18.9 per cent and 12.8 per cent....
...The department store sub-index of the S&P 500 has fallen by nearly a third this year, while Credit Suisse estimates more than 140m sq ft of retail will be shut this year....
...That helped the S&P 500’s asset manager sub-index to rally more than 26 per cent last year....
...The S&P retailing sub index climbed 1.5 per cent to hit another record high of 1,878.78....
...Macy’s and Kohl’s were the biggest decliners on the S&P 500 for the day and the results weighed on the broader S&P 500 retailing industry group, sending it 2.4 per cent lower....
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