Victoria’s Secret stock soars 8% after retailer says holiday season went better than expected

Victoria’s Secret & Co. stock soared 8% Tuesday after the lingerie company raised its fourth-quarter guidance to reflect a better-than-expected holiday season in the face of a “challenged” consumer. “Our sales performance was at the better end of our guidance with margins solidly in line with our expectations despite our response to a very promotional … Read more

Here’s why a record-setting lack of snow in New York City is pretty chilling

Snow has been a no-show in New York City this winter, the longest stretch without measurable accumulation in the several decades that meteorologists have been paying attention to this figure. New York isn’t alone, as much of the East Coast has been blanketed in a gray, rainy and noticeably warmer 2022-2023 winter. As of Monday, … Read more

FDA panel backs plan for annual COVID-19 booster, as new omicron subvariant continues to dominate in new cases

A Food and Drug Administration advisory panel voted unanimously Thursday for Americans to get a once-a-year booster against COVID-19, with the strain to be decided midyear for a fall campaign, the Associated Press reported.  “This is a consequential meeting to determine if we’ve reached the point in the pandemic that allows for simplifying the use of … Read more

Foot Locker cuts staff and another exec departs: ‘Every executive from the 2019 analyst day is now gone,’ analyst says

Athletic-gear retailer Foot Locker Inc. on Thursday said it was cutting some of its corporate and support staff and has decided to wind down its Sidestep athletic fashion brand in Europe. The retailer also said that Andrew Gray, executive vice president of Global Lockers and Champs Sports, left the company on Jan. 23, marking the … Read more

Levi’s gives upbeat sales forecast — while leaning less on jeans

Shares of Levi Strauss & Co. rallied after hours on Wednesday after the jeans maker reported fourth-quarter results and a full-year sales forecast that beat expectations, even as demand at its own stores clashed with a pullback among clothing retailers and a harsher foreign-exchange backdrop. However, a big chunk of those sales came from non-jeans, … Read more

Tyson Foods CFO’s guilty plea in drunken trespass case latest example in long line of corporate executive misbehavior

Whether it’s being arrested for driving under the influence or allegedly peeping at a woman inside a restaurant bathroom, there are many recent examples of corporate executives behaving badly, and how companies have responded has been all over the map. A recent embarrassing example involved the 32-year-old chief financial officer of Tyson Foods TSN, +0.87%, … Read more

Peloton’s stock downgraded amid ‘signs of accelerated return to gyms’

Peloton Interactive Inc. shares are down more than 90% from their January 2021 closing high, but Baird analyst Jonathan Komp still sees risk to the name. His Tuesday downgrade of the stock balances his “still-positive long-term view of the Connected Fitness long-run penetration potential, [Peloton’s] status as industry leader, and turnaround progress behind CEO Barry … Read more

Lululemon bulls need a ‘reality check,’ analyst cautions

Lululemon Athletica Inc. has been on a hot streak for the past five years, but that may be coming to an end. The maker of yoga pants and other athletic apparel has increased sales by 25% and earnings by at least 30% for the past five years, and Bernstein analyst Aneesha Sherman is worried that … Read more

Don’t let the ‘bear market house of mirrors’ fool you, Morgan Stanley’s Mike Wilson warns of the stock market

Stock futures are treading water ahead of an important week for earnings, with the spotlight on updates from the tech space, which has been laying off thousands of workers. Among those not expecting good news in the earnings pipeline is Morgan Stanley’s chief U.S. equity strategist Mike Wilson, who in our call of the day … Read more