Starbucks Reports Holiday Growth
Retailer after retailer has announced in recent weeks that they saw tepid or downright disappointing sales during the crucial holiday season. And then came Starbucks, dropping a blockbuster earnings report on Thursday that stands out as a clear bright spot in retail. The coffee giant reported that revenue soared 12 percent to a record $5.4 billion. Sales at its U.S. restaurants open more than a year were up 9 percent, and nearly half...
Wal-Mart Warns Wall Street That Its Profits Will Fall; Shares Plummet
Wal-Mart delivered a disappointing message to Wall Street on Wednesday: Sales will remain sluggish, and profit will be hampered next year by efforts to raise workers’ salaries and improve e-commerce capabilities. The mega-retailer’s stock plunged 10 percent on the news, wiping out about $20 billion in market value. The lackluster forecasts underscore the problems that have dogged Wal-Mart in recent years: It has scrambled to catch up...
