JPMorgan Chase, Bank of America and Wells Fargo reported healthy quarterly profits despite having to pay to replenish the industry’s deposit insurance fund.
Category: Company Reports
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General Motors Reports a 14% Jump in U.S. Auto Sales in 2023
The nation’s largest automaker sold more cars in 2023 than a year ago as supply chain chaos ended, but sales are now under pressure from rising interest rates.
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Tesla Sales Rebound After Steep Price Cuts
The leading electric-vehicle maker also drew buyers eager to take advantage of government incentives that will be harder to get in 2024.
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Bird, an Electric Scooter Company, Files for Bankruptcy
The company, once a high-flying start-up whose services were hailed as the next big thing in personal transportation, lost much of its value as it struggled to grow.
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Is Farfetch About to Go Bust?
For years, Farfetch was a tech darling that powered much of online luxury shopping. Now it is teetering on the brink of collapse.
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Hasbro to Cut 1,100 Jobs as Weak Toy Sales Persist
The announcement that the toymaker was eliminating nearly 17 percent of its work force came during the critical holiday shopping season.
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Corporate America Is Testing the Limits of Its Pricing Power
Firms may struggle to keep profits up if demand slows, but so far they are finding ways to keep margins wide.
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Retail Group Retracts Startling Claim About ‘Organized’ Shoplifting
The National Retail Federation had said that nearly half of the industry’s $94.5 billion in missing merchandise in 2021 was the result of organized theft. It was likely closer to 5 percent.
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British American Tobacco Writes Down Value of Brands by $31 Billion
British American Tobacco told investors that it had reassessed the “useful economic lives” of some of its brands amid waning sales and a shift toward vaping.
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Is the Holiday Shopping Season Going to Be a Success? The Answer Is Murky.
Black Friday weekend had a decent turnout for retailers, but it’s unclear if the rest of the season will deliver for the industry.
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Red Lobster’s Popular Endless Shrimp Deal Ate Into Its Profits
The all-you-can-eat deal contributed to an $11 million quarterly operating loss.