Tesla cuts prices as 4Q deliveries miss analysts’ estimates
DETROIT (AP) — Shares of electric car and solar panel maker Tesla Inc. tumbled Wednesday after the company cut vehicle prices by $2,000 and announced fourth-quarter sales figures that fell short of Wall Street estimates.
The company said in a statement before the markets opened that it delivered over 245,000 electric cars and SUVs last year, nearly as many as all previous years combined.
Utah alcohol sales up from 2017 in days leading to new year
SALT LAKE CITY (AP) — Utah liquor stores made $11.6 million in sales in the five days leading up to New Year's Day.
The Utah Department of Alcoholic Beverage Control reported Tuesday that $3.4 million in sales were made on New Year's Eve alone. That was 322,199 bottles.
The sales figures include the state's 44 liquor and wine stores but don't include lower-alcohol beer sales made at grocery stores.
Volkswagen on track to break last year’s sales record
FRANKFURT, Germany (AP) — Volkswagen, which last year vied for the title of world's largest carmaker, says it is on track to beat that performance with a new annual sales record — despite trouble getting vehicles certified for new European emissions tests.
Sales head Christian Dahlheim said Friday that "we are confident" 2018 will end with a figure slightly above the previous record from 2017, when the company sold 10.74 million vehicles.
Sears sales decline improved in latest quarter; shares soar
NEW YORK (AP) — Sears Holdings Corp., the struggling department store operator, said it key sales figure improved and its stock soared in after-hours trading Thursday.
The company, which owns both Sears and Kmart, said sales fell 3.9 percent at established stores in its second quarter. That's an improvement from the same period a year ago, when it fell 11.5 percent.
Kroger sees 2Q profit boost, but sales measure falls short
NEW YORK (AP) — Kroger Co. reported a jump in fiscal second-quarter profit on an investment gain, but a key sales measure fell short of expectations.
Kroger has been shifting the way it stocks shelves at its stores, along with expanding partnerships and its online shopping options. The company and its competitors are increasingly facing more competition from Amazon.com Inc., which has moved into the grocery space over the last few years.
LOUISVILLE, Ky. (AP) — Yum reported a key sales figure for the second quarter that fell short of Wall Street expectations, with results mixed for its Taco Bell, KFC and Pizza Hut chains.
The Louisville, Kentucky company said sales rose 1 percent at restaurants open at least a year. Analysts expected an increase of 2 percent.
Same-store sales at Pizza Hut dipped 1 percent, while both KFC and Taco Bell posted 2 percent increases.
SEATTLE (AP) — Starbucks says a key sales figure rose only modestly in the U.S. during the latest quarter, as it struggles to find drinks other than the Frappuccino to attract customers.
A look at some of the key business events and economic indicators upcoming this week:
Automakers release their March U.S. sales figures Tuesday.
Sears posts profit due to tax benefit, shares rise
HOFFMAN ESTATES, Ill. (AP) — Sears Holdings said a key sales figure fell during the important holiday shopping season, but the struggling department store operator posted a profit for the quarter, mainly due to a tax benefit.
Shares of Sears Holdings Corp., which fell more than 70 percent in the last year, rose almost 9 percent in extended trading Wednesday.
The owner of Sears and Kmart has been closing stores, cutting costings and selling brands to save money and deal with falling sales.
Starbucks key sales figure disappoints; shares fall
NEW YORK (AP) — Starbucks reported disappointing sales growth in its most recent quarter, and shares of the coffee chain fell in after-hours trading Thursday.
But the company also said it expects to earn more this year than it had previously expected, due to the recent changes in U.S. tax law that slashed the corporate tax rate.
Turkey and cocktails: $3.4M in pre-holiday liquor sales
SALT LAKE CITY (AP) — Utah sold $3.4 million in alcohol on Wednesday at 45-state owned liquor stores to set a record for the day before Thanksgiving.
Utah Department of Alcoholic Beverage Control released sales figures Thursday that show about 347,000 bottles were sold on a day when residents packed the stores to load up before the holiday.
This Week: Auto sales, PepsiCo earnings, nonfarm payrolls
A look at some of the key business events and economic indicators upcoming this week:
MORE HURRICANE FALLOUT?
Automakers release their September U.S. sales figures on Tuesday.
Target says turnaround efforts are bringing shoppers back
NEW YORK (AP) — Target, which is spending billions to remodel stores and strengthen its online business, showed signs Wednesday that the turnaround efforts are starting to win back shoppers.
The retailer reported that a key sales figure rose in the second quarter, its revenue beat Wall Street expectations and its online sales jumped 32 percent. The Minneapolis-based company also boosted its earnings expectations for the year.
Department stores _ except Nordstrom _ see sales metric drop
NEW YORK (AP) — It's still a pretty rough time to be a department store.
Macy's, Kohl's and Dillard's all said Thursday that a key sales figure fell again in the latest quarter as customers increasingly shop online, at discount stores and elsewhere. Nordstrom, the outlier, saw those sales rise 1.7 percent overall and even more at its discount Nordstrom Rack unit.
NEW YORK (AP) — More bad news for sporting goods retailers: Hibbett, a chain with more than 1,000 stores, said it expects a key sales figure to fall due to a "challenging" retail environment.
Hibbett's stock plummeted more than 33 percent Monday. Shares of its competitors, such as Foot Locker and Dick's Sporting Goods, also fell.
NEW YORK (AP) — Whole Foods announced a board shake-up and cost-cutting plan as it fights to appease investors and hold onto shoppers who have more choices about where to buy organic foods.
The company, which has seen sales at established stores fall for seven straight quarters, is under pressure from activist investor Jana Partners. The group disclosed its stake in the chain last month and pushed for a shake-up of the senior management, among other changes.
Shake Shack says a key sales figure declined
NEW YORK (AP) — Shake Shack says a key sales figure declined 2.5 percent in the first quarter as customer traffic fell.
The New York-based burger company also lowered its sales forecast for the year, saying it now expects sales at established locations to be flat, down from its previous guidance for growth of 2 to 3 percent. Its shares fell nearly 8 percent to $30.57 in after-hours trading.
Burberry shares slide on weak sales report
LONDON (AP) — Burberry shares plunged Wednesday after the U.K. luxury goods maker reported disappointing sales figures, with the fall in the pound in particular boosting spending by tourists in Britain.
The company said that sales in the second half of its fiscal year fell 1 percent when stripping out the effect of shifts in currency exchange rates.
Dollar General key sales figure falls as store traffic drops
GOODLETTSVILLE, Tenn. (AP) — Dollar General put up weak earnings numbers for the third quarter in an environment that has largely favored bargain stores, with so many people still looking to cut costs where they can.
The Goodlettsville, Tennessee, retailer cited lower food prices and a cut in food-stamp benefits in several states that forced low-income customers to trim spending.
October US sales fall as auto boom slows
DETROIT (AP) — It's a chilly autumn for U.S. auto sales.
Sales of new cars and trucks fell an estimated 4 percent in October as consumer demand waned, according to Autodata Corp.
Hyundai and Subaru both reported 4-percent sales increases from last October. But General Motors' sales fell 2 percent, Toyota's sales were down 9 percent and Fiat Chrysler's sales dropped 10 percent. Honda's sales fell 4 percent and Nissan's were down 2 percent. Volkswagen's sales fell 18.5 percent.
DETROIT (AP) — Fiat Chrysler has revised more than five years of U.S. sales figures and says a much-touted streak of 75 months of gains should have ended in 2013.
The company, in a lengthy statement issued Tuesday, said it would change the way it reports monthly sales retroactively to the start of 2011. The move comes as the Justice Department and Securities and Exchange Commission investigate whether the company inflated sales by pressing dealers to buy more...