Adidas recently announced a warning about a potential sales decline in the North American market for 2024, attributing it to an oversaturated inventory situation. Despite this, the brand remains optimistic about achieving mid-single-digit growth globally, even amidst ongoing macroeconomic challenges and geopolitical tensions. The company confirmed a 2023 operating profit of 268 million euros, which
Earnings
The recent financial report of Denmark’s Lego indicates a turbulent year for the renowned toymaker, with revenues ticking up by 2% to reach 65.9 billion Danish krone (approximately $9.65 billion). While the CEO, Niels Christiansen, acknowledged the difficulties faced by the company, he expressed satisfaction in capturing a notable market share amidst the challenges. Despite
Oracle’s quarterly earnings report for the fiscal third quarter ending Feb. 29 surpassed Wall Street’s expectations, leading to a 13% increase in shares during extended trading. The company reported earnings per share of $1.41 adjusted, exceeding the expected $1.38, and revenue of $13.28 billion compared to the $13.3 billion estimate. For the upcoming fiscal fourth
The recent drop in Teleperformance’s shares by 20% has sparked concerns among investors regarding the impact of artificial intelligence on the call center and office services group. The fear stems from companies increasingly utilizing AI technology directly for their own customer service benefits. The stock plummeted further by 16% after Klarna, a financial services company,
Foot Locker, a well-known sneaker retailer, recently reported a holiday-quarter loss, much to the dismay of investors. The company also issued weak guidance for the current year, signaling that it is behind on meeting its financial goals. The profitability goal set during its March 2023 investor day is now expected to be delayed by two
Sea Limited, a tech giant based in Southeast Asia, has had a remarkable year in 2023 with the company posting its first profitable year. The net income for 2023 stood at an impressive $162.7 million, a stark contrast to the net loss of $1.7 billion in the previous year. Despite this achievement, the company did
Daimler Truck saw its shares skyrocket to a new all-time high, jumping over 15% in morning trading after revealing record full-year profits and introducing a 2 billion euro share buyback program. The company reported pre-tax earnings of 5.5 billion euros for 2023, surpassing analysts’ expectations of 5.2 billion euros and marking a 39% increase from
Snowflake, the cloud software company, made headlines on Wednesday with the announcement of the retirement of billionaire CEO Frank Slootman. Slootman, who joined the company in 2019 and led it through an incredibly successful IPO in 2020, will be stepping down and making way for Sridhar Ramaswamy, the former Google ad chief, to take over
Salesforce shares took a hit initially, sliding as much as 6% after the business software maker issued a light revenue forecast for the new fiscal year. However, the shares managed to rebound and ended up rising 1% in extended trading. This fluctuation showcases the uncertainty and volatility in the market in response to Salesforce’s forecast.
Macy’s reported a decline in sales of nearly 2% in the holiday quarter, disappointing both investors and analysts. The fourth quarter results were below what Wall Street had expected, with adjusted earnings per share coming in at $2.45 compared to the $1.96 expected, and revenue at $8.12 billion versus the anticipated $8.15 billion. This left