Tag: income

  • Macy’s, Best Buy sales decline, reflecting shopper decline

    Consumers have scaled back their purchases of clothing and electronics in recent months, while continuing to spend money on groceries and other essentials, according to some of the largest US retailers. Department store chain Macy’s Inc. m 9.67% on Thursday said sales fell 4.6% in the fourth quarter as people spent less online and in […]

  • Airlines make big profits after fare increases and cost reductions

    A year ago, many airlines were still burning through cash as some countries were slow to lift coronavirus-related travel restrictions. Now that the borders are fully open, some of those carriers are making big profits. “This is a huge turnaround given the massive losses we faced just 12 months ago,” said Alan Joyce, CEO of […]

  • Wayfair lost 5 million customers and $1.3 billion last year

    wayfair Inc. W -27.95% lost 5 million customers by 2022, reducing the online furniture retailer’s buyers to near its size before the Covid-19 pandemic triggered a surge in consumer spending. The Boston-based company’s revenue fell 4.6% from a year ago to $3.1 billion in the last three months of last year, for a net loss […]

  • EV startup Lucid aims to nearly double production by 2023

    Electric vehicle manufacturer Lucid Group Inc. said Wednesday it plans to produce up to 14,000 vehicles this year, a goal that business leaders say reflects the economic uncertainties facing the industry. The figure, which fell short of analysts’ expectations, was intended to be conservative, CEO Peter Rawlinson said. “We chose to go for a range […]

  • Strength in the agricultural industry is fueling rising demand for Deere equipment

    Deere DE 7.97% & Co. said it expects demand for its farm equipment to remain strong as farmers convert their rising incomes into the purchase of tractors, harvesters and other equipment. Deere raised its profit forecast for the year on Friday after quarterly revenue more than doubled from a year earlier and sales increased by […]