Global News

[ad_1] The Shein logo can be seen on a smartphone, while the Chinese online retailer's website is open on a laptop.  Monika Skolimowska | Picture Alliance | Getty Images China-founded e-commerce company Shein's hopes of going public in the United States are growing slimmer by the day, according to experts, as rising tensions between Beijing and the U.S. roil business and trade. The company, last valued at $66 billion, confidentially filed to go public in the U.S. in November. Since then, it has faced resistance as it tries to join the American retail sphere, including through numerous rejected attempts to become a member of the National Retail Federation, the industry's largest trade association, CNBC previously reported. The e-commerce upstart filed to go public while becoming a household name in the U.S. by offering low prices and a facility to offer new styles quickly. The company is poised to take major market share from U.S. retailers, particularly Gap , TJX C...

[ad_1] A customer pushes a shopping cart full of groceries outside a Wal-Mart in Rogers, Arkansas, left, and a pedestrian passes a Target store in the Tenleytown neighborhood of Washington, D.C. Getty Images Target and Walmart are both catering to thriftier shoppers, but the two big-box retailers have seen very different outcomes when it comes to winning their dollars. Target missed Wall Street's sales expectations for the fiscal second-quarter. Walmart beat Wall Street's revenue estimates for the three-month period. Target slashed its forecast for the year, while Walmart raised its outlook. The companies' diverging performances illustrate some of the retailers' fundamental differences. Walmart, the nation's largest grocer, makes more than half of its annual revenue from selling groceries — a category that shoppers buy even when times are tight. Target draws only about 20% of its yearly revenue from grocery, making it rely more on sales of items such as cl...

[ad_1] A range of retailers are again blaming shrink as one of the reasons they saw another quarter of lackluster profits. But some of those companies have started to offer more detail than ever on how much shrink, or items lost to factors like external or employee theft , damage or vendor fraud, is cutting into their bottom lines. At the same time, certain retailers pulled back on their contention that organized theft is a primary cause of losses, as scrutiny grows over claims about how much crime contributes to their struggles. During second-quarter earnings reports in August and September, nearly two dozen retailers said shrink has continued to weigh on profits. But the details each company provided, and the explanations they gave for losses, varied widely. Many of them said that shrink is at an all-time high and said the industry is struggling to control it. Still, it's difficult to compare the losses to past years because most of the companies have never previously disclo...

[ad_1] Shares of Dollar Tree plunged more than 16% in intraday trading Thursday after the company fell short of Wall Street's earnings expectations for the most recent quarter and slashed its profit outlook for the full year. The stock closed about 12% lower at $136.66 a share. Here's how the discounter did in its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv: Earnings per share: $1.47, adjusted, vs. $1.52 expected  Revenue: $7.32 billion vs. $7.28 billion expected  The company's reported net income for the three-month period that ended April 29 was $299 million, or $1.35 a share, compared with $536.4 million, or $2.37 a share, a year earlier. On an adjusted basis, the company reported earnings of $1.47 per share, falling below Wall Street projections. Sales rose to $7.32 billion, up from $6.9 billion a year earlier.  Same store sales were up 4.8% compared to an expected uptick of 3.6%, according to...