Global News

[ad_1] American clothing and accessories retailer American Eagle store seen in Hong Kong. (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images) Budrul Chukrut | Lightrocket | Getty Images Shares of American Eagle plummeted nearly 16% on Tuesday after the company issued a holiday forecast that failed to impress.  For its holiday quarter, American Eagle expects sales to be up high single digits, ahead of the 3.4% sales growth analysts had expected, according to LSEG. However, it's expecting its operating income to be between $105 million and $115 million, which is mostly below expectations of $114 million, according to StreetAccount. The forecast was dampened by an expected 20% uptick in selling and general administrative expenses, the company said.   The apparel retailer outperformed in its fiscal third quarter, however. Here's how the company did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refiniti...

[ad_1] A shopper goes through shirts in the kids section at Old Navy in Denver, Colorado. Brent Lewis | Denver Post | Getty Images By striking down student debt forgiveness Friday, the U.S. Supreme Court not only added a hefty expense back into millions of Americans' budgets. It also created the latest challenge for retailers already struggling to predict how consumers may spend in the coming months. The court's decision squashed President Joe Biden 's plan to forgive up to $20,000 per borrower in federal student loan debt . Student loans will already take a bigger bite out of budgets this fall as payments and interest accruals resume after a more than three-year pandemic-related pause . Biden announced steps Friday to make the transition to resuming payments easier and create a path to forgiveness of some loans. The opinion means outstanding loan balances will be higher as those payments resume than they would have been if the court had ruled in favor of Biden. The...