Wednesday headlines include earnings from Target and Lowes, a
new low-cost plan from Sprint, Citigroup looking to exit the
Japanese consumer banking business and lowered guidance for
) said Wednesday that it earned 37 cents per share in the quarter
that ended Aug.2. On an adjusted basis, which excludes costs from
the massive data breach the company suffered late last year, the
company earned 78 cents per share, which was short of the mean
analyst estimate by a penny. Revenue was $17.41 billion, topping
estimates for $17.38 billion. Looking forward, the company said
it expects to earn between $3.10 and $3.30 in the current fiscal
year, down from a previous estimate for $3.60 to 43.90 per
share. Analysts had been predicting $3.49 per share.
Home-improvement retailer Lowes (
) also lowered its guidance for the full year. The company said
it expects sales to increase by about 4.5 percent, compared to
prior forecast for a 5 percent increase. Same-store sales are
expected to rise by about 3.5 percent, from a prior estimate for
a 4 percent increase.
for the quarter that ended Aug. 1 was 88 cents per share. Revenue
was $16.59 billion. Analysts had expected the company to earn
$1.02 per share on $16.55 billion in revenue.
Now that its plan to acquire rival T-Mobile (
) has been scrapped, mobile carrier Sprint (
) is slashing prices. The company is getting rid of its "family"
plans and launching a $100-per-month plan that boasts 20
gigabytes of data and up to 10 lines. The company is also
offering to pay up to $350 to break contracts with other
Financial giant Citigroup (
) is considering exiting the consumer banking business in
. The company has reportedly approached some firms in Japan about
acquiring the business. Citigroup currently has 33 branches in
Office-supply chain Staples (SPLS) said Wednesday that sales
could fall in the current quarter on weak sales of computers and
office supplies due to increased competition from online
retailers and big-box stores. The company said it expects to earn
between 34 and 39 cents in the quarter ending in November. That
compares to a mean estimate for 37 cents per share.
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