Latest news with #RetailSales
Reuters
a day ago
- Business
- Reuters
TSX futures inch lower on concerns of US involvement in Israel-Iran conflict
June 19 (Reuters) - Futures linked to Canada's main stock index fell marginally on Thursday amid caution over the United States' possible entry into the Israel-Iran air war. Futures on the S&P/TSX index were down 0.1% at 05:45 a.m. ET (10:45 GMT). President Donald Trump kept the world guessing about whether the United States will join Israel's bombardment of Iranian nuclear sites, saying "I may do it. I may not do it." Much of the recent nervousness in markets has been centred around crude supply shocks, triggered by the tensions in the Middle East. On Thursday, oil prices , inched higher. Gold prices held steady while copper hit a near one-week low. Most other base metals also declined, pressured by a stronger U.S. dollar. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), opens new tab shed most of its gains to end almost flat on Wednesday after Federal Reserve Chair Jerome Powell said inflation in goods prices is expected to go up over the summer as Trump's tariffs work their way to consumers. Investors now await Canadian retail sales data for April on Friday to assess whether consumer spending has been resilient in the face of tariff uncertainty. Trading volumes in Canada remained subdued on Thursday as U.S. markets are closed for a public holiday. FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report Canadian dollar and bonds report CA/ Reuters global stocks poll for Canada , Canadian markets directory
Yahoo
2 days ago
- Business
- Yahoo
La-Z-Boy Inc (LZB) Q4 2025 Earnings Call Highlights: Strong Sales Growth Amid Economic Challenges
Consolidated Delivered Sales: $571 million for Q4, up 3% year-over-year; $2.1 billion for the fiscal year, up 3% year-over-year. Retail Segment Sales: Increased 8% in Q4, driven by new stores and acquisitions. Wholesale Segment Sales: Grew 2% in Q4, led by core North American business. Operating Cash Flow: $187 million for the fiscal year, up 18% year-over-year. Adjusted Operating Income: $54 million for Q4, up 3% year-over-year; $161 million for the fiscal year, up 1% year-over-year. Adjusted Operating Margin: 9.4% for Q4; 7.6% for the fiscal year. Adjusted Diluted EPS: $0.92 for Q4; $2.92 for the fiscal year. Cash and No Debt: $328 million in cash with no external debt. New Store Openings: 11 new company-owned stores opened during the fiscal year. Shareholder Returns: $113 million returned through share repurchases and dividends, including a 10% dividend increase. Joybird Sales: Decreased 21% in Q4; sales increased 5% for the fiscal year. Same-Store Sales: Written same-store sales for the retail segment decreased 5% in Q4. Warning! GuruFocus has detected 3 Warning Sign with LZB. Release Date: June 18, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. La-Z-Boy Inc (NYSE:LZB) reported strong fourth-quarter results with consolidated delivered sales of $571 million, a 3% increase compared to the previous year. The retail segment sales grew by 8%, driven by new stores and acquisitions, highlighting the success of their direct-to-consumer growth strategy. La-Z-Boy Inc (NYSE:LZB) opened its 200th company-owned store, now owning 55% of the total network, which strengthens their market presence. The company generated $187 million in operating cash flow for the year, an 18% increase from the prior year, and returned $113 million to shareholders through share repurchases and dividends. La-Z-Boy Inc (NYSE:LZB) maintains a strong balance sheet with $328 million in cash and no external debt, providing financial stability and flexibility for future investments. Written same-store sales for the retail segment decreased by 5% compared to the prior year's fourth quarter, indicating challenges in maintaining consistent sales growth. Joybird, a digitally native brand under La-Z-Boy Inc (NYSE:LZB), experienced a 21% decrease in written sales for the quarter, reflecting the impact of rising macroeconomic uncertainty on consumer behavior. The wholesale segment faced challenges with a significant customer transition in the international business, impacting margins and requiring strategic adjustments. The effective tax rate increased to 31.4% for the fiscal year, primarily due to a nondeductible goodwill impairment charge related to the UK business. The company anticipates continued challenges in the macroeconomic environment, which could impact consumer spending and overall industry growth in the near term. Q: Can you discuss the potential for the wholesale segment to reach a 10% margin and the factors contributing to this goal? A: Taylor Luebke, Senior Vice President, Chief Financial Officer, explained that achieving a 10% margin in the wholesale segment is part of their long-term Century Vision strategy. This includes a distribution and home delivery redesign project, which is expected to contribute significantly. However, reaching this goal also depends on a healthy industry environment, particularly a robust housing market. Q: Why is La-Z-Boy undertaking a distribution network redesign now? A: Melinda Whittington, President, Chief Executive Officer, Director, stated that the redesign is driven by recent acquisitions and the need for efficiency. The project aims to reduce warehouse overhead, optimize routes, and improve delivery experiences, ultimately enhancing service levels and reducing costs. Q: How did La-Z-Boy's sales outperform expectations despite a challenging start to the quarter? A: Melinda Whittington noted that despite a tough February, the company executed well, focusing on consumer satisfaction and business partner collaboration. This led to stronger-than-expected sales by the end of the quarter, even amid increased macroeconomic challenges. Q: What impact did tariffs have on La-Z-Boy's financials, and how is the company addressing this? A: Taylor Luebke mentioned that while tariffs did have an impact, La-Z-Boy mitigated this through nominal pricing actions and strategic inventory management. The company remains agile to respond to any changes in trade policy, focusing on minimizing consumer impact. Q: What is the long-term plan for Joybird stores, considering the current economic challenges? A: Melinda Whittington expressed confidence in Joybird's potential, noting plans to open three to four new stores this year. While the brand is still young and faces challenges, there is potential to exceed the initial goal of 25 stores, with a focus on prudent growth and optimizing the consumer experience. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Retail Sales Comes in Significantly Lower Than Expected
This morning, we see some important economic data hitting the tape. Pre-market futures are lower, but in fairness, they were lower before these reports came out. The Dow is currently giving back -180 points of its gains made yesterday, with the S&P 500 down -20 points and the Nasdaq -90. Bond yields are lower, but only slightly: the 10-year is +4.41%, the 2-year +3.94% and the 30-year yield is +4.92%. Headline Retail Sales for last month was expected to swing to a negative print, but not this far: -0.9% is the lowest we've seen since January, and below the -0.6% consensus. The prior month swung from +0.1% originally reported to -0.1% on today's revision. Auto Parts fell -3.5% for May, followed by -2.7% in Building Materials. Conversely, Sporting Goods grew +1.3% and Furniture +1.2%. Removing big-ticket auto sales, this number ebbs to -0.3% — still worse than the +0.1% analysts were expecting. This follows a 0.0% print for April, which ticked down 10 basis points (bps) from +0.1% initially reported. Ex-autos & gas, -0.1% is what we see — a big swing from the +0.3% anticipated. The Control number, which finds its way up the food chain of other inflation metrics (such as next week's PCE figures), was the sole bright spot here: +0.4%, up from April's downwardly revised -0.1%. Keep in mind there is plenty here reflecting the tariff realities in U.S. retail. For instance, headline month-over-month Retail Sales blossomed up +1.7%, in expectation of complications regarding tariffs President Trump had been promising. Thus, there is a 'pull-forward' in effect with these May numbers; over time, we'll be able to see more clearly how retailers are able to successfully price goods. Import Prices were unched for May: 0.0% versus expectations of -0.1% but down from the unrevised +0.1% from April. Still, this is an improvement from the -0.4% posted in March. Ex-fuel costs, +0.2% is the number — half what was posted a month ago, which incidentally was the highest figure registered since April of last year. Export Prices, on the other hand, sank -0.9% last month — the worst print in over two years. Year over year, we see U.S. exports +1.7%, the lightest read of the year and 80 bps lower than the +2.5% analysts had been looking for. Again, we see a new global trade narrative emerging, though unfortunately for us it's taking a big bite out of export pricing. We don't see these lower numbers as enough to tip the scales in terms of the Fed deciding to cut interest rates at this time. As we say, we strongly suspect much of these aberrations are tariff-related; once the Fed has some clarity on global trade, it will have more confidence to adjust rates to both control inflation and foster full employment. The Fed's official decision comes out Wednesday early afternoon, along with a statement from the Federal Open Market Committee (FOMC) and a press conference with Chair Jerome Powell directly following. Currently, odds are sub-50% for a Fed cut until September, with a growing number of analysts now conceding there may be no rate cuts in 2025 at all. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Retail Sales, Imports/Exports Reflect Tariff Realities
Tuesday, June 17, 2025This morning, we see some important economic data hitting the tape. Pre-market futures are lower, but in fairness, they were lower before these reports came out. The Dow is currently giving back -180 points of its gains made yesterday, with the S&P 500 down -20 points and the Nasdaq -90. Bond yields are lower, but only slightly: the 10-year is +4.41%, the 2-year +3.94% and the 30-year yield is +4.92%. Headline Retail Sales for last month was expected to swing to a negative print, but not this far: -0.9% is the lowest we've seen since January, and below the -0.6% consensus. The prior month swung from +0.1% originally reported to -0.1% on today's revision. Auto Parts fell -3.5% for May, followed by -2.7% in Building Materials. Conversely, Sporting Goods grew +1.3% and Furniture +1.2%.Removing big-ticket auto sales, this number ebbs to -0.3% — still worse than the +0.1% analysts were expecting. This follows a 0.0% print for April, which ticked down 10 basis points (bps) from +0.1% initially reported. Ex-autos & gas, -0.1% is what we see — a big swing from the +0.3% anticipated. The Control number, which finds its way up the food chain of other inflation metrics (such as next week's PCE figures), was the sole bright spot here: +0.4%, up from April's downwardly revised -0.1%.Keep in mind there is plenty here reflecting the tariff realities in U.S. retail. For instance, headline month-over-month Retail Sales blossomed up +1.7%, in expectation of complications regarding tariffs President Trump had been promising. Thus, there is a 'pull-forward' in effect with these May numbers; over time, we'll be able to see more clearly how retailers are able to successfully price goods. Import Prices were unched for May: 0.0% versus expectations of -0.1% but down from the unrevised +0.1% from April. Still, this is an improvement from the -0.4% posted in March. Ex-fuel costs, +0.2% is the number — half what was posted a month ago, which incidentally was the highest figure registered since April of last Prices, on the other hand, sank -0.9% last month — the worst print in over two years. Year over year, we see U.S. exports +1.7%, the lightest read of the year and 80 bps lower than the +2.5% analysts had been looking for. Again, we see a new global trade narrative emerging, though unfortunately for us it's taking a big bite out of export pricing. We don't see these lower numbers as enough to tip the scales in terms of the Fed deciding to cut interest rates at this time. As we say, we strongly suspect much of these aberrations are tariff-related; once the Fed has some clarity on global trade, it will have more confidence to adjust rates to both control inflation and foster full Fed's official decision comes out Wednesday early afternoon, along with a statement from the Federal Open Market Committee (FOMC) and a press conference with Chair Jerome Powell directly following. Currently, odds are sub-50% for a Fed cut until September, with a growing number of analysts now conceding there may be no rate cuts in 2025 at or comments about this article and/or author? Click here>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
19-05-2025
- Business
- Reuters
Fatih Akin returns to Cannes with film holding mirror to Germany's past
category · May 19, 2025 · 10:54 AM EDT · 5 min ago · 5 min ago Oil prices steadied on Monday despite Moody's downgrade of the U.S. sovereign credit rating, and official data that showed slowing growth in China's industrial output and retail sales.
