Reuters US Business

By Granth Vanaik (Reuters) -Nordstrom beat quarterly revenue and profit estimates on Thursday, helped by resilient demand from wealthy Americans at a time when still-high inflation is forcing consumers to rethink their discretionary spending. The department store chain’s shares rose 3% in extended trading. The results come at a time when retailers ranging from Macy’s …

Nordstrom tops quarterly estimates on steady demand from affluent Americans Read More »

(Reuters) -Gap Inc on Thursday forecast a steeper-than-expected decline in current-quarter sales after missing expectations in the second quarter, hit by slowing demand for its accessories and apparel as budget-strained American customers cut back on spending. Consumers, especially on the lower to middle-income rungs, have focused on essential purchases as persistent inflation and interest rate …

Gap eyes weak third-quarter sales as consumer spending weakens Read More »

(Reuters) – Ulta Beauty on Thursday raised its annual earnings and revenue forecast bolstered by resilient demand for its premium cosmetics and fragrances despite a broader decline in discretionary spending, and posted a better-than-expected quarterly profit. Shares of the beauty retailer rose about 2% in extended trading. Higher-income consumers have splurged on beauty and skincare …

Ulta Beauty rides on resilient cosmetics demand to post beat-and-raise quarter Read More »

(Reuters) -Shares of Walt Disney fell 3.9% on Thursday, closing at their lowest level in nearly nine years, with some investors betting that a further price drop is on the cards in the next few months. Disney stockholders are scrutinizing the company’s turnaround plan after chief Bob Iger earlier this month promised a mix of …

Disney closes at lowest in nearly nine years as investors turn bearish Read More »

By Fergal Smith (Reuters) -Canada’s main stock index fell on Thursday, including losses for energy and technology shares, but the index’s losses were capped as investors eyed beaten-down dividend paying stocks, including major banks as they began reporting quarterly earnings. The Toronto Stock Exchange’s S&P/TSX composite index ended down 103.96 points, or 0.5%, at 19,775.83, …

TSX ends lower as tech falls, investors weigh bank earnings Read More »

By David Shepardson WASHINGTON (Reuters) -The Federal Aviation Administration (FAA) said on Thursday it is considering subjecting high-volume charter flight operators to stricter regulations imposed on passenger airlines. Airline unions have opposed the expansion of charter operations. Association of Flight Attendants-CWA President Sara Nelson praised the FAA action, calling the charter regulations a “loophole that …

US FAA considering stricter rules for high-volume charter flight operators Read More »