Reuters | |

Cosmetics maker Coty Inc on Thursday posted a bigger-than-expected quarterly loss and a 56% slump in sales, as the coronavirus-induced closure of stores and parlors hammered demand for its beauty products.

Shares of Coty, a majority of which is owned by German conglomerate JAB Holding Co, were down 7% in early morning trade.

Cosmetics makers are battling the closure of other channels of sales, including duty-free shops at airports, and also contending with work...

AP News | |

At home workouts and outdoor athletic activities are shaping up to be good business for Dick’s Sporting Goods. The retailer’s second-quarter results easily beat Wall Street’s expectations as consumers continue to focus on health and wellness while stuck at home amid the coronavirus pandemic.

“During this pandemic, the importance of health and fitness has accelerated and participation in socially distant, outdoor activities has increased. There has a...

Reuters | |

Nordstrom Inc reported a bigger-than-expected loss and a 53% fall in sales on Tuesday, as its stores were shut for about half of the reported quarter due to the COVID-19 pandemic, sending the department store chain’s shares down about 7%.

Like many of its peers, Nordstrom was severely hit from a months-long closure of its stores across the United States and as shoppers steered away from the company’s upscale apparel, including work clothing and designer dresses.

Reuters | |

J. Crew Group Inc said on Tuesday it expects to emerge from Chapter 11 in early September, after a bankruptcy court accepted its restructuring plan.

The plan, approved by a Virginia federal court, will equitize over $1.6 billion of secured debt, and provide for $400 million in asset-based loan as well as $400 million of fresh financial aid.

The New York-based chain, known for preppy clothing at times worn by former first lady Michelle Obama, filed for bankruptc...

Reuters | |

Best Buy Co Inc warned on Tuesday of a slowdown in sales growth in the third quarter as it faced risks from unemployment, lower government stimulus and lockdown-hit global supply chains, sending the shares of the U.S. consumer electronics retailer down 4%.

Chief Financial Officer Matt Bilunas said sales would likely slow from the 20% growth that the company has seen due to a surge in online demand for computers and other electronic accessories from more people working fr...

AP News | |

Amazon retail chief Jeff Wilke, who has helped Amazon transform itself from an online bookstore into a global colossus, is retiring early next year.

Wilke, 53, has been with Amazon for more than two decades and was regarded as a potential successor to founder and CEO Jeff Bezos. His oversight at Amazon grew along with the company, running not just, but the Whole Foods grocery chain and its physical book stores.

Wilke is referred to within Amazon as “The other Jeff” to differentiate him from Bezos. The two have worked closely together since Wilke joined the company in 1999, four years after started selling books online.

Reuters | |

L Brands Inc on Wednesday reported a surprise quarterly profit boosted by strong demand for Bath & Body Works’ sanitizers and soaps, as well as higher online sales of Victoria’s Secret lingerie during coronavirus-led lockdowns.

The pandemic-fuelled temporary store closures, which have pushed many retailers into bankruptcy, led to 850 jobs cuts at L Brand’s home office and permanent closing of some Victoria’s Secret stores, after a stake sale in the...

Reuters | |

Target Corp on Wednesday reported its best quarterly comparable sales growth and online revenue that nearly tripled as shoppers lapped up videogames, kitchenware and clothes during the pandemic using the retailer’s same-day delivery services.

Shares of the Minneapolis-based retailer surged about 9% in premarket trading after it handily trounced estimates for quarterly profit and revenue.

The surging demand seen at big-box chains at ...

Reuters | |

Kohl’s Corp posted a smaller-than-expected quarterly loss on Tuesday, as the department-store chain reopened most of its stores that were shuttered for weeks to curb the spread of the novel coronavirus.

Shares of the company, which have more than halved in value this year, rose over 3% before the bell.

Kohl’s, like several peers, has seen its online sales increase following the lockdowns, helped by its introduction of curbside pick-up option, partnership wi...

AP News | |

Millions of people forced to work out of the office during the pandemic took on new projects at home and Home Depot is supplying a lot of the DIY material they need.

At Home Depot stores open at least a year, sales surged an remarkable 25% in the U.S. during the second quarter, the Atlanta company reported Tuesday.

Overall revenue hit $38.05 billion, far exceeding the $34.94 billion Wall Street was expecting, according to a Zacks Investment Re...