Nike beat Wall Street’s expectations for its fiscal third-quarter earnings and revenue. The retailer has been contending with a glut of inventory and soft sales in China as the region recovers from the Covid pandemic. Investors have been watching to see if Nike’s gross margins improve from its direct-to-consumer channels. Nike easily beat Wall Street’s … Read more
Shares of Indonesia’s GoTo sunk 2.78% in early hours of trading on Tuesday, after the firm reported a wider net loss in 2022. While fourth-quarter 2022’s adjusted EBITDA loss improved, the company still lags behind peers such as Grab and Sea Limited, said DBS analyst Sachin Mittal. GoTo management previously promised cost costs, including two … Read more
This is a commentary by Allan Sloan, an independent business journalist and seven-time winner of the Loeb Award, business journalism’s highest honor. We all know about the problems the Federal Reserve is having these days trying to hold the U.S. and world financial systems together in the aftermath of the Silicon Valley Bank collapse. But … Read more
Package deliverer FedEx Corp. is targeting more than $4 billion in cost cuts in the months ahead. But investors, after pummeling the stock in September, catapulted it higher in after-hours trade on Thursday, as those efforts to slash expenses and keep prices higher start to make their way into financials despite continued weakness in shipping … Read more