Consumer Companies Earnings Report

Macy's to Close Underperforming Stores

Department store chain Macy's announced plans to close approximately 150 underperforming stores, representing about 30% of its total fleet, within the next three years.

Lowe's Exceeds Wall Street Expectations

Lowe's, the home-improvement retailer, saw a rise in its share price following a strong earnings report that surpassed Wall Street targets.

J.M. Smucker Reports Strong Operating Profit

Shares of J.M. Smucker increased after the company, known for jams and other spreads, revealed a stronger-than-expected third-quarter operating profit.

Pilgrim's Pride Shows Growth in Earnings

The shares of poultry processor Pilgrim's Pride surged after it reported robust earnings growth in recent times.

Consumer Confidence Declines Unexpectedly

Despite a six-month high in January, consumer confidence took an unexpected dip in February, falling to 106.7 from 110.9, as reported by the Conference Board.

Challenges for Consumers Amid Inflation

According to Goldman Sachs Group CEO David Solomon, consumers living paycheck-to-paycheck are facing increased challenges as inflation impacts those in vulnerable financial situations.

Zara Expands into Haircare Market

Zara, the Spanish retail giant, known for its foray into beauty products, has now branched out into haircare. Renowned stylist Guido Palau has been chosen to lead this new venture.

Puma's Profitability Hit by Argentine Peso Devaluation

German sneaker manufacturer Puma experienced a decrease in profitability in the fourth quarter due to the devaluation of the Argentine peso.

Note: Original content credit goes to Rob Curran