Constellation Brands slashes outlook on weak wine demand
Liquor giant Constellation Brands warned on Tuesday that it may be forced to write down the value of its assets by as much as $2.5 billion this year due to sluggish demand for wine as consumers cut back on non-essential purchases amid high inflation. The Rochester, New York-based company, which owns brands such as Corona, […]
Smucker’s, Jif peanut butter owner slashes full-year outlook amid stubborn inflation
J.M. Smucker Co., owner of Jif Peanut Butter, on Wednesday cut its full-year sales and profit outlook, hurt by rising inflation as cost-conscious consumers turn to cheaper alternatives. The company has raised prices on some products, including frozen foods, to offset rising raw material costs, but expects full-year sales to fall as consumers cut back […]
Macy’s slashes sales outlook; retailer struggles for cash-strapped shoppers
Iconic department store Macy’s Inc. slashed its annual sales outlook after disappointing second-quarter earnings as it struggles to attract customers hit by inflation. Macy’s shares fell 13 percent on Wednesday to $15.45. Retailers were forced to lower prices on mid- to high-end items and offer more promotions to compete with more affordable rivals, but sales […]
Uranium prices outlook for 2024 as per Citi – Investing.com
Prices have been under pressure recently, trading slightly lower within a tight range due to limited trading volumes and liquidity. However, this slump in uranium prices is expected to ease as demand for nuclear energy continues to grow but supply is struggling to keep up, according to a note released Monday by analysts at Citi […]
Walmart raises outlook on strong demand from inflation-battered shoppers
Walmart Inc. reported a better-than-expected second-quarter profit and raised its annual outlook as inflation-hit shoppers flocked to the company’s low-priced food, clothing and household goods. Walmart shone thanks to its affordable prices: Same-store sales excluding fuel rose 4.2% in the second quarter from a year ago, beating expectations. The company’s U.S. online sales jumped 22% […]
Harris solidifies traditional blue states, gives Dems a better national outlook
Vice President Kamala Harris’ ascension to the top of the Democratic field could help the party regain more stable control in at least one traditionally Democratic state and improve its national prospects. A Siena College Research Institute poll released Tuesday found Harris leading former President Trump 53-39 among New York state voters. While a 14-point […]
Michael J. Fox tells his story on Apple and discusses his outlook on life
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A bullish outlook on Alabama
Commercial content. 21+. Action Network is the official betting partner of the New York Post, which edited this content. A new era will begin in Tuscaloosa this fall as Cullen DeBoer replaces the legendary Nick Saban. With the College Football Playoff expanding to 12 teams and the SEC adding Texas and Oklahoma, DraftKings has Alabama […]
Porsche slips 5% after lowering profit outlook over alloy shortage
Luxury car maker Porsche fell more than 5 percent on Tuesday after it sharply cut its outlook for future sales and profits. Quote Unexpected aluminum alloy supply shortage. The German carmaker said floods at an undisclosed European contractor have hit supplies of aluminum alloys, affecting production of all its models and potentially leading to the […]
IMF lowers outlook for US economy while warning of slower disinflation
The International Monetary Fund on Tuesday lowered its forecast for the U.S. economy in 2024 by 0.1 percentage point, putting annual growth at 2.6 percent. The firm maintained its forecast for global economic growth this year at 3.2% and raised its forecast for 2025 to 3.3% from 3.2% predicted in April. The international financial institution […]