Inflation is cooling, but prices on many items are going to stay high for months

A grocery store in New York. Wang Ying | Xinhua News Agency | Getty Images Inflation may be cooling. But, for most Americans, the price of a cup of coffee or a bag of groceries hasn’t budged. In the months ahead, the big question is whether consumers will start to feel relief, too. related investing news Over the past few months, many of the key factors that fueled a four-decade high in inflation have begun to fade. Shipping costs have dropped. Cotton, beef and other commodities have gotten cheaper. And…

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Stocks making the biggest moves premarket: Netflix, Alphabet, Nordstrom, PagerDuty and more

A sign is posted in front of a Google office on April 26, 2022 in San Francisco, California. Google parent company Alphabet will report first quarter earnings today after the closing bell. Justin Sullivan | Getty Images News | Getty Images Check out the companies making headlines before the bell: Netflix — The streaming stock jumped more than 6% after Netflix reported its latest quarterly results. While Netflix missed earnings expectations, it added more subscribers than analysts were forecasting. The firm also announced that co-CEO Reed Hastings would step down…

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Stocks making the biggest moves after hours: Netflix, Nordstrom and more

Check out the companies making headlines in midday trading. Netflix – Shares of Netflix jumped 6.3% after the company’s per-share earnings came short of analysts’ expectations. Nevertheless, the latest quarterly results showed the streaming service added millions more subscribers in the quarter than Wall Street anticipated. The company also announced that co-CEO Reed Hastings would step down from the role. related investing news P&G CEO’s upbeat take on the economy makes the consumer staples giant even more attractive in 2023 Paulina Likos 6 hours ago Nordstrom – Nordstrom shares fell…

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Macy’s cuts holiday-quarter forecast citing squeeze on shoppers’ wallets

Macy’s flagship store in Herald Square in New York, Dec. 23, 2021. Scott Mlyn | CNBC Macy’s on Friday cut its holiday-quarter sales forecast, saying consumers’ budgets are under pressure and that it expects the squeeze to continue into this year. The department store said net sales are now expected to be at the low- to mid-point of its previously expected range of $8.16 billion to $8.4 billion. It expects adjusted diluted earnings per share to be in the previously issued range of $1.47 to $1.67. Shares of the company…

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Target hopes value-hungry shoppers will come to the rescue this holiday season

Target is stressing value this holiday season, as consumers feel pinched by inflation. At its store in New Jersey, signs that advertise low-priced items are more prominent than in previous years. Melissa Repko | CNBC FAIRFIELD, N.J. — Inside of this large store in the suburbs, Target is trying to create some holiday magic for shoppers. Christmas tunes play over the loudspeaker. Adult- and kid-sized mannequins show off matching family pajamas. Red and green pillows decorate the shelves. The big-box retailer is looking for some of its own magic, too.…

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Rent the Runway reports stronger quarterly sales as shoppers look to save money

Jennifer Hyman, Rent the Runway  Scott Mlyn | CNBC As some shoppers think twice about purchases, Rent the Runway is getting a bump. The fashion rental and subscription company on Wednesday reported stronger quarterly revenue that beat expectations and raised its financial outlook for the year as customers opted to borrow designer clothes instead of buying them. In a CNBC interview, CEO Jennifer Hyman said inflation is making Rent the Runway more appealing to a broader range of customers who cut across incomes and geographies. For example, during the quarter, 28% of…

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Online shoppers spent a record amount on Thanksgiving

D3sign | Moment | Getty Images After eating turkey and pie, lots of Americans also went on a shopping spree. Thanksgiving Day online spending hit a record of $5.29 billion, an increase of 2.9% year over year, according to Adobe, which tracks sales on retailers’ websites. Typically, shoppers spend about $2 billion to $3 billion online in a day, according to Adobe. That increase was driven by demand, not inflation, according to Vivek Pandya, lead analyst at Adobe. Online sales haven’t been driven higher by inflation like store sales, since e-commerce is…

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Retailers are under pressure to turn deep discounts into big sales on Black Friday

Shoppers walk past a sale sign as Black Friday sales begin at The Outlet Shoppes of the Bluegrass in Simpsonville, Kentucky, November 26, 2021. Jon Cherry | Reuters Major retailers are under intense pressure to deliver on Black Friday after several of them reported a slowdown in sales heading into the do-or-die holiday shopping season. Macy’s, Target, Kohl’s, Gap and Nordstrom spoke about a lull in sales in late October and early November. Target cut its holiday-quarter outlook and Kohl’s pulled its forecast, citing the slow sales. Macy’s CEO Jeff…

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5 things to know before the stock market opens Monday

Heritage turkeys make rapid gurgling sound at Elmwood Stock Farm ahead of the Thanksgiving holiday in Georgetown, Kentucky, November 16, 2021. Amira Karaoud | Reuters Here are the most important news items that investors need to start their trading day: 1. Time to talk turkey Happy Thanksgiving Week. We may have a shortened trading schedule, with U.S. markets closed Thursday for the holiday and only open until 1 p.m. ET Friday, but there’s no shortage of intrigue. Equities slumped a bit last week, but closed strong Friday as investors weighed…

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Stocks making the biggest moves midday: Bath & Body Works, Norwegian Cruise Line, Macy’s and more

Bath & and Body Works entrance. Jeff Greenberg | Getty Images Check out the companies making headlines in midday trading. Bath & Body Works – Bath & Body Works’ stock surged 24% after reporting per-share earnings that were more than double what analysts had anticipated. The retailer also raised its guidance for full-year per-share earnings. Norwegian Cruise Line – Shares of the cruise stock shed 6% following a double downgrade to an underperform rating from Credit Suisse. The bank said shares are trading at a premium and investors can find…

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