SSP to Report Around GBP2.17Bln in Sales for FY 2022 as Passenger Numbers Recover

By Anthony O. Goriainoff SSP Group PLC said Tuesday that it expects to report sales of around 2.17 billion pounds ($2.32 billion) for fiscal 2022 as passenger numbers continue to recover, and that it remains confident in the continuing resilience of its business model. The London-listed food-and-beverage company–which houses the Upper Crust bakery chain–said that … Read more

‘The psychology has changed so quickly’: Why stock-market lows may be retested as S&P 500 enters its weakest stretch of year

With summer winding down, the US stock market is set up for a potentially shaky fall. “Recession fears are the most likely trigger of a retest of the June lows,” said Ed Clissold, chief US strategist at Ned Davis Research, in an Aug. 31 notes. “From a seasonality perspective, a retest could come in the … Read more

What does Friday’s jobs report mean for the market? ‘Too hot’ and stocks could tumble, says market pro

With Federal Reserve Chair Powell last week reaffirming plans to keep raising interest rates to bring down inflation despite the risk of recession, Friday’s monthly US jobs report may once again carry risks for the stock market, said Tom Essaye, a former Merrill Lynch trader and the founder of the Sevens Report newsletter. The Labor … Read more

We’re done with pajamas. What we need is luggage. Macy’s sales show how consumer behavior is changing.

Macy’s executives on Tuesday outlined the ways that inflation is changing customer behavior across all income brackets, as higher prices for food and gas and rising interest rates weigh on sentiment. Chief Executive Jeffrey Gennette told analysts on a call after the company’s second-quarter earnings report that customers from all walks of life slowed down … Read more

Warby Parker Cuts Sales Forecast, Corporate Staff as Consumers Delay Purchases

Warby Parker Inc. WRBY 19.75% said it is cutting about 15% of its corporate staff and lowered its sales outlook for the year as the eyeglasses maker copes with consumers changing their shopping habits amid economic uncertainty. The job cuts would affect roughly 63 employees, the company said Thursday, adding that it had made other … Read more

This is the one part of the labor market where workers have less bargaining power

Friday’s jobs report showed surprising strength in the labor market, but there are signs that all may not be well for all workers. Quitting in low-wage sectors such as retail, leisure and hospitality is slowing down, said Nick Bunker, an economist at Indeed Hiring Lab. That means people working in those sectors probably have less … Read more

How gas prices and competitive pricing boosted Costco’s strong July sales

Gas prices continue to benefit Costco Wholesale Corp., which reported strong July sales after the market closed on Wednesday. The company’s sales for the month were $16.85 billion, compared with $15.21 billion in the same period last year. Analysts were impressed by the company’s performance. Costco Wholesale Corp. COST, -0.18% shares fluctuated in premarket trading … Read more

Why the US stock rally is starting to look like a new bull market, according to these analysts

Broader is better when it comes to the stock market rally and some analysts see technical signs that gains may be signaling the end of the 2022 bear market, although it’s too early to say for sure. “The risk that the recent advance is merely a bear market rally has not been eliminated. But…the technical … Read more

Tilray expected to post a quarterly loss with market share losses in Canada and forex headwinds

Tilray Inc. is not expected to turn a profit in its fiscal fourth quarter when it delivers its latest results on Thursday, but analysts have at least held steady on their projected loss for the cannabis company. Wall Street analysts that follow Tilray TLRY, -5.47% TLRY, -5.50% expect the company to lose 8 cents a … Read more

Here’s how much ‘greenwashing’ can shave from company earnings

Consumers tend to see red when they’ve been misled by corporate greenwashing, new research finds. So-called greenwashing, when a business tries to leverage for marketing purposes fast-expanding public attention on sustainable practices but fails to meet pledged goals on climate change, renewable energy and more, increasingly sticks in consumers’ minds. That, in turn, chips away … Read more