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(Reuters) - With President Joe Biden pledging to jump-start a vaccination rollout that he has denounced as a dismal failure so far, West Virginia is touting the relative success of its program to inoculate most of its nearly 2 million residents. Of 38 million vaccine doses distributed by the federal government so far, 46% had been administered as of Thursday, CDC data showed. West Virginia opted out of a distribution partnership between the federal government and the CVS and Walgreens national pharmacy chains to inoculate residents of long-term care facilities and nursing homes. State officials in West Virginia say they are proud to have vaccinated about 9.3% of residents so far, second only to Alaska at around 9.8%. West Virginia and North Dakota lead in terms of available vaccine administered, both states having injected 72% of their allocated doses into residents’ arms.
Persons: Joe Biden, Donald Trump, John Beckner, ” Beckner, they’ve, Donnalie Hope, , ” Hope, Andrew Cuomo, ” Cuomo Organizations: Reuters, Centers for Disease Control, West, CVS, Walgreens, National Community Pharmacists Association, United, State, National Guard Armory Locations: West Virginia, United States, Alaska, North Dakota, Petersburg , West Virginia, Moorefield, New York
There are numerous other claims in the video that are outside the scope of this fact check. POSITIVE TESTSIn the video (here timestamp 32.00), Gold says: “You may have started to see some news stories now: people taking the vaccine and now they’re testing positive for COVID-19. Here in America, if you can get a doctor to prescribe it, you get these medicines.”The National Institute of Health COVID-19 treatment guidelines can be seen here . Figure 1 on this page shows recommendations by the COVID-19 Treatment Guidelines Panel for patients with varying levels of disease severity. The World Health Organization named the disease COVID-19, did not refer to the “Wuhan virus” and has recommended against naming diseases after places since 2015.
Persons: Dr Simone Gold, Simone Gold, they’ve, ’ They’re, Gold, Dr Keiji Fukuda, , Hydroxychloroquine, hydroxychloroquine, Read Organizations: Miracle Services, America’s, American Academy of Family Physicians, Reuters, U.S . Centers for Disease Control, Wuhan Virus, Chinese Communist Party, World Health Organization, WHO, Health Security, National Institute of Health, COVID, The New York Times, Washington, Bloomberg, CNN, of America, Guardian Locations: WUHAN, Wuhan, China, America, COVID, Africa, The
White House website allows users to specify pronouns for first time
  + stars: | 2021-01-21 | by ( Dan Avery | ) www.nbcnews.com + 0.00   time to read: +4 min
The day President Joe Biden was sworn in, the White House website was updated to allow visitors to specify what pronouns they use. The new White House website has a drop down that includesMxAs I live and breathe!!! Shortly after Donald Trump’s 2017 inauguration, the White House website removed a page dedicated to LGBTQ rights that had been published during the Obama administration. The White House did restore a Spanish-language translation of the website and add new accessibility options, The New York Times reported. One in 4 LGBTQ youth use pronouns or pronoun combinations that fall outside of the gender binary, according to The Trevor Project, a suicide-prevention hotline for queer youth.
Persons: Joe Biden, Biden, ” “, , “ Mr, , Justin Vivian Bond, Raffi Freedman, Obama, Sarah Kate Ellis, ” Ellis, Donald Trump’s, Aimee Stephens, Bostock, Trevor Organizations: , White, White House, NBC, GLAAD, New York Times, Trump White House, Pew Research Center, D.C, Movement Advancement, Twitter, Facebook Locations: Pennsylvania, Clayton County , Georgia, Washington
Tesla bears suffer record short-sale loss in 2020: S3 Partners
  + stars: | 2021-01-21 | by ( Chuck Mikolajczak | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: People walk in front of the New York Stock Exchange (NYSE) in New York, U.S., January 15, 2021. REUTERS/Brendan McDermidNEW YORK (Reuters) - Short bets on Tesla Inc were the most unprofitable trade in 2020, as the electric automaker saw its shares surge over 740% en route to becoming the world’s most valuable automaker. Dusaniwsky noted that most of the most unprofitable shorts of 2020 were technology or “stay at home” plays due to the COVID-19 pandemic. Apple Inc was the next most unprofitable short play at about $6.7 billion in losses. On the flip side, there were only five short positions that drew over $1 billion in mark-to-market profits, according to S3.
Persons: Brendan McDermid, Ihor Dusaniwsky, Tesla, Dusaniwsky Organizations: New York Stock Exchange, REUTERS, Tesla Inc, Partners, Nasdaq, Investors, Apple Inc, Inc, Pinduoduo Inc, Exxon Mobil Corp, T Inc, Raytheon Co, United Technologies, Raytheon Technologies Corp, U.S, Luckin Coffee Inc, Wells Fargo & Co Locations: New York, U.S
(Recasts, updates yields, adds TIPS auction results, upcoming note auctions, analyst comments) Jan 21 (Reuters) - U.S. Treasury yields on the longer end of the curve climbed along with inflation expectations on Thursday as the market eyed the prospect for additional debt supply under U.S. President Joe Biden's administration. The benchmark 10-year yield was last up 1.6 basis points at 1.1058%. A closely watched part of the yield curve measuring the gap between yields on two- and 10-year Treasury notes steepened and was last 3.3 basis points higher at 97.91 basis points. The inflation breakeven rate for 10-year Treasury Inflation-Protected Securities (TIPS) rose to a session high of 2.171% following Thursday's auction of $15 billion of 10-year TIPS. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was last down less than a basis point at 0.125%.
Persons: Joe Biden's, steepened, Gennadiy Goldberg, Biden, Goldberg, Guy LeBas, Herbert Lash, Karen Pierog, Chizu Nomiyama, Richard Chang Organizations: Treasury, U.S, Securities, U.S . Treasury, Labor Department, Reuters, Janney Capital Management Locations: New York, Philadelphia, U.S, Chicago
It's now up to President Joe Biden to implement the First Step Act as it was written — even though Trump is claiming credit for it. It's now up to President Joe Biden to implement the First Step Act as it was written. If he wins his second petition, Cohen will have done more to force the implementation of the First Step Act than his former client did. That guide was issued without congressional approval, and directly contradicts the plain language of the First Step Act. So far, the executive branch’s execution of the First Step Act has been replete with bad faith.
Persons: Donald Trump's, Trump, , it's, It's, Joe Biden, Heck, , they’ve, Michael Cohen, Cohen, Dayna Perry —, , Perry, Glen Adkins Jr, we’ve, Biden, Kim Kardashian, he’s Organizations: Trump, The New York Times, , Prisons, Trump's, of Prisons Locations: , , Trump
"We encourage patients to schedule the second dose appointment as close to the earliest appropriate date, but a bit after is OK," Shah said. For Pfizer, that interval is 21 days; for Moderna, 28 days. "It doesn't forget what it saw the first time," he said, referring to the first vaccine dose. While the first dose does offer protection, "there needs to be an emphasis that a second dose is necessary" for full protection. The interval for Pfizer is 21 days (not 28), and the interval for Moderna is 28 days (not 21).
Persons: , Rina Shah, Shah, Buddy Creech, Creech, Bruce Y, Lee, you've, Diane Griffin, Griffin Organizations: Disease Control, CDC, Walgreens, Food and Drug Administration, Pfizer, BioNTech, Moderna, Vanderbilt Vaccine Research, Vanderbilt University Medical Center, NBC, City University of New, Johns Hopkins University School of Medicine, Twitter, Facebook Locations: U.S, Moderna, Nashville , Tennessee, City University of New York
New York lawsuit seeking NRA's dissolution can go forward, judge rules
  + stars: | 2021-01-21 | by ( ) www.nbcnews.com + 0.00   time to read: +4 min
A New York judge on Thursday denied the National Rifle Association’s bid to throw out a state lawsuit that seeks to put the powerful gun advocacy group out of business. Judge Joel Cohen’s ruling will allow New York Attorney General Letitia James’ lawsuit to move ahead in state court in Manhattan, rather than dismissing it on technical grounds or moving it to federal court, as the NRA’s lawyers desired. James’ lawsuit, filed last August, seeks the NRA’s dissolution under state nonprofit law over claims that top executives illegally diverted tens of millions of dollars for trips, no-show contracts and other expenditures. Cohen also rejected the NRA’s arguments that James’ lawsuit was improperly filed in Manhattan and should’ve been filed in Albany, where the NRA’s incorporation paperwork lists an address. The NRA’s lawyers said at a bankruptcy court hearing on Wednesday in Dallas that they wouldn’t use the Chapter 11 proceedings to halt the lawsuit.
Persons: Judge Joel Cohen’s, Letitia James ’, James ’, James, Cohen, couldn’t, ” Cohen, should’ve, Thursday’s, Sarah Rogers, James Sheehan, Rogers, ” Rogers, Organizations: New, NRA Locations: York, Manhattan, Albany, New York, Virginia, Texas, Dallas
Uttering sacred American phrases in Spanish during the inauguration provided real cultural inclusion and recognition. But the deeper history behind J.Lo’s performance complicates the simple story of inclusionary progress and celebration. But “God Bless America” itself is more complicated than it might appear, with a past that reveals much about the best and worst sides of American history. APIn January 1941, Berlin performed the song at the third inauguration of Franklin D. Roosevelt. In his inaugural speech, Biden spoke of American history as “a constant struggle between the American ideal that we’re all created equal, and the harsh, ugly reality that racism, nativism, fear, demonization have long torn us apart.”He stressed, “The battle is perennial and victory is never assured.”The history behind Lopez’s performance is not easy or straightforward.
Persons: Donald Trump’s, Joe Biden’s, Jennifer Lopez, ” J.Lo, Biden, Woody Guthrie, Guthrie, Barack Obama’s, Pete Seeger, John Springer, — Guthrie, Irving Berlin, Israel Beilin, Berlin, Franklin D, Roosevelt, Lopez, Trump Organizations: Latina, United, Getty, America, Ku Klux Klan, AP Locations: America, American, United States, an Oklahoma, America’s, Canada, Guyana, Wales, Sweden, Russian, New York, U.S, Germany, Berlin, Puerto Ricans, they’d
REUTERS/Nick OxfordThe order appeared to be a first step in delivering on newly sworn-in Biden’s campaign pledge to permanently ban new drilling on federal acreage. Biden’s predecessor Donald Trump had sought to maximize production of oil, gas and coal on federal acreage, and routinely downplayed threats from global warming. “This is a frack ban,” Anne Bradbury, chief executive of the drilling trade group American Exploration & Production Council, said in an interview. “With this move, the administration is leading us toward more reliance on foreign energy,” API President Mike Sommers said. Limits on federal drilling will have the biggest impact on major Western producing states like New Mexico and Wyoming, which depend on revenue from their share of extraction royalties.
Persons: Joe Biden’s, Nick Oxford, Donald Trump, ” Anne Bradbury, , it’s, Jesse Prentice, Dunn, Biden, Mike Sommers Organizations: Reuters, REUTERS, Department, Department of Interior, EOG Resources Inc, Cimarex Energy Co, Devon Energy Corp, Occidental Petroleum Corp, New York Stock Exchange, American Exploration, Production, Keystone XL, Center, Western, American Petroleum Institute, Western Energy Alliance, New, Oil & Gas Association Locations: Midland , Texas, U.S, United States, Paris, Canada, New Mexico, Wyoming
BreakingviewsReuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time. Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.
Persons: Breakingviews, Breakingviews Reuters Breakingviews Organizations: Breakingviews Reuters, Reuters, Twitter Locations: New York, London, Hong Kong
Judge rejects NRA bid to end or move New York lawsuit seeking its closure
  + stars: | 2021-01-21 | by ( Jonathan Stempel | ) www.reuters.com sentiment -0.99   time to read: +2 min
NEW YORK (Reuters) - A New York state judge on Thursday rejected the National Rifle Association’s bid to dismiss or move a lawsuit by New York Attorney General Letitia James seeking to dissolve the gun rights group. James had sued the NRA, Chief Executive Wayne LaPierre and others last August. She accused the group of violating state laws governing nonprofits by diverting millions of dollars to fund luxurious trips for its officials, no-show contracts for associates, and other suspect expenses. The judge said accepting the NRA arguments would be “elevating form over substance,” and that it was a “big lift” to tell James she could not sue in state court. The case is New York v. National Rifle Association et al, New York State Supreme Court, New York County, No.
Persons: Letitia James, Joel Cohen, James, Wayne LaPierre, Sarah Rogers, ” Cohen, ” James Sheehan Organizations: YORK, New York, Joel Cohen of Manhattan, NRA, National Rifle, Court Locations: York, Texas, New York, Albany, New, Court , New York County
Judge rejects NRA bid to dismiss or move lawsuit by New York attorney general
  + stars: | 2021-01-21 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: 1 min
NEW YORK, Jan 21 (Reuters) - A New York state judge on Thursday rejected the National Rifle Association’s bid to dismiss, put on hold, or transfer a lawsuit by New York Attorney General Letitia James seeking its dissolution. Justice Joel Cohen of Manhattan Supreme Court ruled six days after the gun rights group filed for bankruptcy protection and said it planned to reincorporate in the more gun-friendly Texas, after 150 years in New York. (Reporting by Jonathan Stempel in New York)
Persons: Letitia James, Joel Cohen, Jonathan Stempel Organizations: YORK, New York, Joel Cohen of Manhattan Locations: York, Texas, New York
Peter Weinberg, head of advisory at Perella Weinberg Partners, speaks during a Reuters Breakingviews panel in New York, U.S. January 10, 2017. REUTERS/Lucas JacksonNEW YORK (Reuters Breakingviews) - Perella Weinberg is injecting some financial sense into one of the hottest market trends. On an adjusted basis, Perella Weinberg actually makes a profit, too. Last year Perella Weinberg took 24th spot in Refinitiv’s league tables, with rivals Moelis, Evercore, Lazard, Jefferies Financial and Rothschild ahead – it’s a tough market. It’s only appropriate that Perella Weinberg’s case should look unusually well advised.
Persons: Peter Weinberg, Lucas Jackson, Perella Weinberg, Joseph Perella, Terry Meguid, Lazard, Rothschild, , outsized paydays Organizations: Perella Weinberg Partners, Reuters, REUTERS, YORK, KKR, Moelis, Jefferies Financial Locations: New York, U.S, Evercore
It’s the silent stories — those too dangerous to tell — that characterize much of queer history. That fear-induced secrecy has left large swaths of our archives absent of queer narratives, especially queer Black narratives. “How could it possibly be that Black queer people did not exist prior to the Harlem Renaissance?” he asked. “Maybe we did not have the word ‘queer’... maybe we didn't have the language, but people don't appear because of the language. The wedding is a reminder that same-sex Black love is something that has existed — and has been celebrated — across centuries.
Persons: Robert Jones Jr, Samuel, Isaiah, Jones, Putnam's, , Toni Morrison, he’d, ” Samuel, ” Jones, , Amos, Alberto Vargas, it’s, Isaiah’s, queerness, Brother Gabriel, Maggie, I'm, we're Organizations: Black, Southern Baptist, NBC, Twitter, Facebook Locations: Brooklyn , New York, Harlem, Mississippi, Black, Samuel, Kosii, America
MILAN/NEW YORK/LONDON/HONG KONG (Reuters Breakingviews) - Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights. First-half losses last year totalled $14 million after a $13 million net profit over the same span in 2019. If the forecast proves accurate, the shares should trade closer to the bank’s book value. They’re currently valued at around 90% of their estimated 2021 book value, according to Refinitiv forecasts. Bombed-out domestic peers Caixabank and Banco de Sabadell, which trade at just 49% and 17% of 2021 book value, respectively, have even more scope to pleasantly surprise investors.
Persons: Chris Helgren, Paolo Gentiloni, Lisa Jucca, Michael Eavis, It’s, Karen Kwok, Scott Kirby, Kirby, Lauren Silva Laughlin, Joe Biden, Robert Cyran, there’s, Ed Cropley, Zhejiang’s, Jennifer Hughes, Bankinter, Bankinter’s ROE, They’re, Caixabank, Christopher Thompson Organizations: MILAN, Reuters, Corona, United Airlines, New, Newark Liberty International Airport, REUTERS, European, Washington . Revenue, National Center for Health Statistics, Norwegian Air Shuttle, Sequoia, HK, Banco de Sabadell Locations: HONG KONG, New York City, New Jersey, U.S, Glastonbury, EU, Korea, United, Washington ., Oslo, Zhejiang, Sequoia China, New, China
Rare for an inaugural address, President Joe Biden issued a strong repudiation of white supremacy and domestic terrorism seen on the rise under Donald Trump. And now a rise of political extremism, white supremacy, domestic terrorism that we must confront and we will defeat.”Compared to his immediate predecessors, three of whom attended Wednesday’s inauguration, Biden is the first president to directly address the ills of white supremacy in an inaugural speech. In his second inaugural address in 1997, former President Bill Clinton called out racial divisions as “America’s constant curse,” but stopped short of naming culprits. “Then, we can focus on thriving Black lives through investments in health, education, housing, and environmental justice.”Biden began addressing some of these issues in a series of executive orders signed after the inauguration. “We must set aside politics and finally face this pandemic as one nation.”In his speech, Biden invoked Abraham Lincoln’s Emancipation Proclamation committing to freeing enslaved Africans during the Civil War.
Persons: Joe Biden, Donald Trump, Biden, Trump, ” Biden, Bill Clinton, ” Rashad Robinson, ” Robinson, Kamala Harris, , , Patrisse Cullors, ” Cullors, Susan Rice, Trump’s, Biden’s, Abraham Lincoln’s, ’ ” Biden Organizations: Capitol, Black, Associated Press, Electoral, Global Network Foundation, New York Times, , Facebook, Twitter Locations: Harris, Covid
The Reuters Fact Check team previously debunked videos on social media claiming that Pelosi was accompanied by U.S. The image shows Obama exiting a car while a member of the Secret Service holds the door open for him. This claim was also false: the footage shows Obama visiting the former jail cell of South African anti-apartheid hero Nelson Mandela in 2013 and Obama has not been arrested. Fox News has not reported that Speaker Pelosi admitted to cheating on behalf of Democrats in the 2020 presidential election or that former President Obama was arrested. Read more about our work to fact-check social media posts reuters.com/fact-check/about .
Persons: Joe Biden’s, “ Nancy Pelosi, , “ Barack Obama, Nancy Pelosi, Barack Obama, Pelosi, Obama, Pelosi “, Bonanno, Vincent Asaro, Nelson Mandela Organizations: Fox, FBI, Fox News, U.S, Marshals, Capitol, Reuters, Eesti, Secret Service Locations: U.S, New York City, Estonian
The ECB, which kept interest rates steady on Thursday, also pledged to provide more support for the economy if needed. The bank said it plans to raise rates early next year as the economy recovers from the coronavirus pandemic. In midmorning trading, the dollar index fell 0.3% to 90.11, after touching a nearly one-month high of 90.956 on Monday. The greenback also dropped versus currencies tied to commodity prices such as the Australian, Canadian, and New Zealand dollars. That said, Wells Fargo's Nelson thinks the dollar is due for a reversal from its current weak trend in the coming weeks.
Persons: ECB's, Gertrude Chavez, Dreyfuss, Christine Lagarde, Joe Biden's, we're, Erik Nelson, Wells, Nelson, Sterling, Wells Fargo's Nelson, Biden, bitcoin, Julien Ponthus, Toby Chopra, Jonathan Oatis Organizations: Norges Bank, Biden, Sterling, YORK, European Central Bank, ECB, Democratic, Bank of Canada, Tiff, Australian, New, RIC Locations: New York, Norwegian, New Zealand, Norway, Sweden, London
TREASURIES-Yields rise on slightly lower weekly jobless claims
  + stars: | 2021-01-21 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +2 min
Jan 21 (Reuters) - U.S. Treasury yields were mostly higher and the yield curve steepened on Thursday after data showed new claims for jobless benefits declined modestly last week. The benchmark 10-year yield was last up 2.4 basis points at 1.1143%. A closely watched part of the yield curve measuring the gap between yields on two- and 10-year Treasury notes was last 3.58 basis points higher at 98.19 basis points. On the supply front, an auction of $15 billion of 10-year Treasury Inflation-Protected Securities (TIPS) was set for later on Thursday. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was last down less than a basis point at 0.129%.
Persons: Guy LeBas, Herbert Lash, Karen Pierog, Chizu Nomiyama Organizations: Treasury, Labor Department, Reuters, Janney Capital Management, Securities Locations: Philadelphia, U.S, New York, Chicago
The U.S. vaccine rollout hasn't been perfect, but states and cities have worked to ramp up distribution and make sure vaccines don't expire. “Due to COVID-19 vaccine supply constraints, we must suspend all first-dose vaccinations for the community,” the health system said in a statement posted to Facebook. The number of vaccine doses being shipped has remained relatively flat since late December. Part of the supply disruption has been a pause on using a batch of Moderna-made vaccine doses after some people who received them were treated for possible allergic reactions, Colfax said. The pause has since been lifted, giving a temporary boost to the state's supply.
Persons: Anari Patel, , Patel, they're, vaccinators, Francisco, Joe Biden, haven’t, Marcus Plescia, Grant Colfax, Colfax, Mayor London Breed, Bill de Blasio, Organizations: Baptist Health, New, New York City, Facebook, Moderna, Pfizer, BioNTech, U.S . Department of Health, Human Services, Association of State, Territorial Health, NBC, Mayor London Locations: South Florida, Baptist Health South Florida, U.S, New York, Bergen County, NBC New York, San Francisco, California, New York City
New York emerges winner as Brexit pushes swaps trading from London
  + stars: | 2021-01-21 | by ( Huw Jones | ) www.reuters.com sentiment -1.00   time to read: +2 min
LONDON (Reuters) - Britain’s exit from the European Union has pushed swathes of derivatives trading from London to the bloc and the United States in a further blow to the capital’s financial sector. Britain has called on the EU to grant access to trading platforms in London, the world’s biggest centre for swaps, but Brussels has declined so far. The shift mirrors a move in euro denominated share trading worth 6.5 billion euros a day that left London on Jan. 4 for trading platforms in the EU. Trading in euro-denominated government bonds left London for the continent after Britain voted in 2016 to exit the bloc. Eric Litvack, group director of public affairs at French bank SocGen said firms were adapting to “new realities” as some swaps trading left London for EU and U.S. platforms.
Persons: Lucas Jackson, , Kirston Winters, Eric Litvack, SocGen Organizations: European Union, REUTERS, IHS, IHS Markit, EU, Trading, Britain, The Bank of England Locations: London, United States, New York City , New York, U.S, EU, Britain, Brussels
BlackRock CEO says U.S. must roll out vaccines aggressively
  + stars: | 2021-01-21 | by ( Reuters Staff | ) www.reuters.com + 1.00   time to read: 1 min
FILE PHOTO: Larry Fink, Chief Executive Officer of BlackRock, stands at the Bloomberg Global Business forum in New York, U.S., September 26, 2018. REUTERS/Shannon Stapleton/File PhotoMILAN (Reuters) - The best measure of success for the new U.S. government of President Joe Biden will be the speed at which the vaccination rollout against the novel coronavirus is conducted, BlackRock CEO Larry Fink said on Thursday. The head of the world’s largest asset manager told an online event organised by a business forum linked to Italy’s G20 presidency that the new U.S. administration should be “aggressive” in rolling out vaccines to rebalance the economy. “The economy will accelerate ... (once) we feel safe and secure again,” he said.
Persons: Larry Fink, Shannon Stapleton, MILAN, Joe Biden, Organizations: Bloomberg Global Business, REUTERS, BlackRock Locations: BlackRock, New York, U.S
Despite the labor market woes, the economy remains anchored by strong manufacturing and housing sectors. Initial claims for state unemployment benefits fell 26,000 to a seasonally adjusted 900,000 for the week ended Jan. 16, the Labor Department said. About 16 million people were on unemployment benefits under all programs at the start of the year. But housing and manufacturing are bucking the fragile labor market. Surging lumber prices and labor and land shortages could, however, slow the housing market momentum.
Persons: Joe Biden, , Chris Rupkey, Bryan Woolston, Sarah House, Ryan Sweet Organizations: WASHINGTON, Biden, Labor Department, Reuters, Treasury, Kentucky, Center, REUTERS, payrolls, Wells, Wells Fargo Securities, Commerce Department, Philadelphia Federal Reserve, Manufacturers Locations: New York, United States, Frankfort , Kentucky, U.S, Wells Fargo, Charlotte , North Carolina, West Chester , Pennsylvania, Pennsylvania, New Jersey, Delaware
American Eagle sees fall in holiday-quarter sales, plans store closures
  + stars: | 2021-01-21 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: Jeans are seen for sale in an American Eagle Outfitters retail store in Manhattan, New York, U.S., May 13, 2016. REUTERS/Mike Segar(Reuters) - American Eagle Outfitters Inc said on Thursday it would close potentially hundreds of stores over the next few years, while the coronavirus crisis forced the apparel retailer to forecast holiday-quarter revenue below estimates. Aerie’s revenue is expected to double to $2 billion in 2023, compared with 2019, leading American Eagle to target revenues of $5.5 billion in 2023, versus $4.31 billion in 2019. However, the company forecast fourth-quarter revenue to fall by low single-digits, compared with analysts’ estimates of a 0.14% dip, according to IBES data from Refinitiv. The company plans to bring down its American Eagle U.S. and Canada store count to about 600 to 700 in the next few years, compared with about 880 currently.
Persons: Mike Segar, Jay Schottenstein Organizations: American Eagle Outfitters, REUTERS, Eagle Outfitters Inc, Eagle, Revenue, American Eagle U.S Locations: Manhattan , New York, U.S, Refinitiv, Canada
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