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Top related persons:
Joseph Feldman - 1 Kroger - 1 Rodney McMullen - 1 Kroger's McMullen - 1 Arun Sundaram - 1 Granth - 1 Shinjini - 1
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Kroger - 1 Investors - 1 Walmart - 1 Albertsons - 1 CFRA - 1 Thomson - 1

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6 mentions found


☆ Kroger maintains annual targets despite quarterly profit beat, shares slip
  + stars: | 2023-06-15 | by ( Granth Vanaik | Thomson Reuters | Granth Reports On The North American Consumer | ) www.reuters.com   time to read: +2 min
Shares of the retailer, which had consistently raised its outlook over the past two years, fell 4.5% to $45.07 after the dull forecast. Last month, rival Walmart raised its annual forecasts as more Americans shopped for its lower-priced groceries and other essentials. However, Kroger's gross margins rose 21 basis points, compared to a fall a year earlier, benefiting from lower supply chain costs as well as its efforts to source some products closer to its distribution centers. It also profited from shoppers - including higher-income consumers looking for more economical options amid persistent inflation - preferring its store-label brands to pricier national brands. Reporting by Granth Vanaik in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
Persons: Joseph Feldman, Kroger, Rodney McMullen, Kroger's McMullen, Arun Sundaram, Granth, Shinjini Organizations: Kroger, Investors, Walmart, Albertsons, CFRA, Thomson Locations: Bengaluru
☆ Tyson Foods shares plunge after surprise loss, revenue forecast cut
  + stars: | 2023-05-08 | by ( Tom Polansek Granth Vanaik | Tom Polansek | Granth Vanaik | ) www.reuters.com   time to read: +2 min
May 8 (Reuters) - Tyson Foods Inc (TSN.N) shares plunged 16% to a three-year low on Monday as the U.S. meatpacker posted a surprise second-quarter loss and cut its full-year revenue forecast following a decline in prices for its beef and pork. CEO Donnie King, who is seeking to cut costs, said Tyson remains in an unusual position of facing challenges in its beef, pork and chicken businesses at the same time. The company cut its forecast for fiscal year 2023 sales to $53 billion to $54 billion from $55 billion to $57 billion. Reuters GraphicsSales volumes in Tyson's beef segment also fell 3% in the quarter, putting overall sales down 8.3% at $4.62 billion. The company pegged full-year beef margins at negative 1% to positive 1%, compared with its previous forecast of 2% to 4%.
☆ Tyson Foods posts surprise loss, cuts 2023 revenue forecast as beef, pork prices fall
  + stars: | 2023-05-08 | by ( Granth Vanaik Tom Polansek | Granth Vanaik | Tom Polansek | ) www.reuters.com   time to read: +2 min
May 8 (Reuters) - Tyson Foods Inc (TSN.N) posted a surprise second-quarter loss and cut its full-year revenue forecast on Monday as prices for its beef and pork have declined, sending the U.S. meatpacker's shares tumbling 9% before the bell. CEO Donnie King, who is seeking to cut costs, said meat markets are challenging and Tyson is focused on improving profit margins. The company lowered its forecast for fiscal year 2023 sales to $53 billion to $54 billion from $55 billion to $57 billion. Average sales prices of beef and pork fell 5.4% and 10.3%, respectively, in the quarter ending April 1. Sales volumes in Tyson's beef segment also fell 3%, leaving the unit's overall sales down 8.3% at $4.62 billion.
☆ DoorDash raises annual core profit forecast on resilient delivery demand
  + stars: | 2023-05-04 | by ( Granth Vanaik | Thomson Reuters | Granth Reports On The North American Consumer | ) www.reuters.com   time to read: +2 min
San Francisco-based DoorDash now projects annual adjusted EBITDA, a measure of profitability, between $600 million and $900 million, compared to previous outlook of $500 million and $800 million. "Consumer demand and engagement are stronger than ever, which has fueled growth across our topline," said Chief Financial Officer Ravi Inukonda. In the first quarter, total orders rose 27% to 512 million, while analysts on average had expected a 20.8% rise to 488.2 million, as per Refinitiv data. On Tuesday, Uber Technologies (UBER.N) also said that it expected "strong growth" in its food delivery unit over the next few quarters, signaling demand resilience. DoorDash's revenue rose 40% to $2.04 billion in the quarter ended March 31, compared to analysts' estimate of about $1.93 billion.
☆ Etsy tops revenue estimates on demand for personalized products, higher fees
  + stars: | 2023-05-03 | by ( Granth Vanaik | Thomson Reuters | Granth Reports On The North American Consumer | ) www.reuters.com   time to read: +2 min
May 3 (Reuters) - Etsy Inc (ETSY.O) on Wednesday beat market expectations for quarterly revenue, benefiting from demand for products such as personalized gifts offered on its e-commerce platform as well as higher transaction fees, sending the company's shares up about 2% in extended trading. Net revenues rose 10.6% to $640.9 million in the quarter ended March 31, compared with analysts estimate of $622.1 million, as per Refinitiv IBES data. The company forecast second-quarter revenue between $590 million and $640 million, while analysts expected $625.4 million. Etsy's first-quarter adjusted EBITDA, a measure of profitability, came in at $170.3 million, while analysts on average were expecting $166.6 million. Reporting by Granth Vanaik in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
☆ Barbie maker Mattel swings to loss as retailers cut orders, costs rise
  + stars: | 2023-04-26 | by ( Granth Vanaik | Thomson Reuters | Granth Reports On The North American Consumer | ) www.reuters.com   time to read: +2 min
April 26 (Reuters) - Mattel Inc (MAT.O) reported a bigger-than-expected loss for the first quarter on Wednesday as the toymaker grappled with higher costs and retailers cutting back on orders. "Retailers are working through this inventory and expect that to be corrected by the end of the first half." Price increases have also discouraged consumers from spending more on its products, leading to a 21% drop in net sales for Mattel to $815 million after adjusting for currency fluctuations. Worldwide gross billings for Barbie, which represents amounts invoiced to customers, fell 41%, while Hot Wheels' billings rose only 1%. The company, however, stuck to its full-year net sales and adjusted profit forecasts and said it expects inflation to moderate in 2023.
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