Target Corp, the No.2 discount chain in U.S. behind Walmart, reported 23 percent rise in its quarterly profit as the retailer's attractive discount schemes have drawn more shoppers to its stores.
Walmart will host first nationwide food drive at all its stores, seek the help of facebook fans in selecting communities to receive $1.5 million in grants, donate 65 refrigerator food trucks to Feeding America network of food banks and help the Salvation Army to provide meals with a $1 million donation.
The following is a compilation of major earnings results released before the market opened on November 16. The retailers took the center stage, with Home Depot and Wal-Mart reporting higher quarterly profits.
S&P 500 Index is down 10.42 points, or 0.85 percent, to trade at 1,187.57 at 09:53 a.m. EDT. The Dow Jones Industrial Average lost 99.57 points, or 0.89 percent, to trade at 11,102.40. The Nasdaq Composite Index fell 0.72 percent.
Retail giant Walmart reported 9 percent growth in its quarterly profit on strong sales at its international operations and raised its fiscal 2011 earnings outlook.
Futures on the S&P 500 are down 0.49 percent, futures on the Dow Jones Industrial Average lost 0.55 percent and Nasdaq100 futures are down 0.73 percent.
The recession hit US economy had forced the rich spenders go a little tight on their shopping spree, affecting most high end companies. However, there is good news coming as some top luxury brands are already hitting the recovery path.
Wal-Mart Stores Inc has agreed to settle a private antitrust lawsuit over its exit from the online DVD market, according to court documents.
Carrefour , Europe's top retailer, said the summer sales trend was mixed in Europe but demand was holding up in emerging markets and confirmed it expected operating profit to rise this year.
Home building increased at a much weaker pace than expected in July, though sturdy growth in industrial output implied the embattled economy has enough strength to keep growing.
Bill Simon could not have picked a better time to take over as chief executive of Wal-Mart Stores Inc's key U.S. discount store unit.
By November, Sam's Club stores across US will be offering Wi-Fi to enable its customers to compare prices online through their smartphones.
Amazon.com Inc's quarterly profit fell far short of Wall Street estimates, hurt by a 40 percent jump in expenses and by price cuts on its Kindle electronic reader, sending its shares down 14 percent.
(Corrects that Kindle sales growth rate tripled, not sales, paragraph 9)
Wal-Mart , the world's top retailer, will be ready to open hundreds of stores in India if the country opens up the sector to foreign direct investment, the chief of its Indian joint venture said.
Russian gas giant Gazprom was the world's most profitable company in 2009 despite ranking 50th in revenue, Fortune magazine said on Thursday with the publication of the Fortune Global 500.
Warm weather and promotions tied to Memorial Day and Father's Day helped U.S. retailers post higher same-store sales in June, but analysts warned the discount-heavy month might eat into margins.
Family Dollar Stores Inc forecast a quarterly profit below analysts' estimates, sending its shares down 8 percent, as it faces an uncertain economy and increased discounting by rival Wal-Mart Stores Inc .
U.S. retail sales are expected to have risen in June due to warm weather and a late Memorial Day, but the gains may be just a temporary reprieve in an uncertain economy.
Wal-Mart Stores Inc on Tuesday named Bill Simon to run its U.S. discount stores, which have struggled with sluggish sales as their core customer continues to be pressured by high unemployment.
Stocks were little changed on Monday as data showing a rise in consumer spending was offset by investors' anxiousness before economic reports, including monthly payrolls, later in the week.
Stocks rose on Monday, rebounding after losses last week and data showed consumer spending rose slightly more than expected in May.
