The driver of comparable digital sales growth, which came in up 29%, was store-fulfilled digital sales. The disappointing guidance update sent retail stocks tumbling across the board, with Kohl's, Target and Nordstrom all experiencing declines in early trading.
Macy's Inc. shares plunged 18 percent on Thursday after the department store operator slashed its full-year profit and sales forecast on the back of an anemic holiday season, sending a chill through the wider retail sector.
Adding to the uncertainty is that investors will not be getting December's monthly retail sales data next week from the Commerce Department if the government shutdown is still in effect, as most observers expect.
Target said its sales were helped by higher customer visits and strong online sales during the holiday season, as well as strength in with toys, baby and seasonal gifts. Many investors had expected department stores to enjoy robust sales in light of a USA economy buoyed by low unemployment, higher wages, strong consumer confidence and cheap gas. Macy's said same-store sales for the final two months of the year were up just 1.1%.
"The holiday season began strong - particularly during Black Friday and the following Cyber week, but weakened during the mid-December period and did not return to expected patterns until the week of Christmas", Jeff Gennette, chairman and chief executive officer at Macy's, said in a statement.
A prominent retail analyst says that the shift to online spending as well as the volatile stock market hurt Macy's during the holiday. In November, e-commerce and catalog sales jumped 10.8 percent from a year earlier, according to Commerce Department data, more than double the overall sales increase of 4.2 percent. Department store sales slipped 0.2 percent during the same period.
Consensus estimates are calling for $4.23 in EPS and $25.01 billion in revenue for the coming year.
A recession could hit many department stores particularly hard, some industry watchers said. It also operates SuperTarget stores with a line of food and general merchandise items and offers an assortment of general merchandise, including many items found in the company's stores and a complementary assortment, such as extended sizes and colors, sold only online. Guidance for same-store sales also declined a bit, with the company now expecting a rise of roughly 2 percent in fiscal 2018, compared to its prior forecast for an increase of between 2.3 to 2.5 percent.
The company still expects full-year adjusted earnings in a range of $5.30 to $5.50 per share. That's well below the per-share projections of $4.23 from industry analysts.
The 65-year-old became an artist back in 1980 and has since went on to be a filmmaker, choreographer and performer. Steve, who is probably best known for his roles in Reservoir Dogs, The Sopranos and Fargo was Jo's biggest fan.
He recived his first number one hit featuring on Migos' Bad and Boujee, which was nominated for a Grammy for Best Rap Performance. With the support of Atlantic, Uzi rose to fame with his "Luv is Rage" mixtape and subsequent " Lil Uzi Vert vs".
The team says that it expects two IndyCar chassis to be delivered in late January and they will be put together in Woking. Key will report to Seidl and head up the technical department comprising Peter Prodromou, Andrea Stella and Pat Fry.
One of the authors, Ohio State University professor Alison Beach, says it's "kind of bombshell" for the field of medieval history. Radiocarbon dating of the skeleton revealed the 45- to 60-year-old woman died between 997 and 1162.
The company cited the need to be leaner to keep delivering for customers and develop spacecraft and space-based internet. Founded by Musk, SpaceX makes most of its money from multibillion dollar contracts with NASA and satellite launches.
A Northern California rookie policewoman who was shot and killed is being remembered as "the cop that any community would want". She had been on the job just a few weeks. "The officer sustained a bullet wound and was rushed to the UC Davis Medical Center".
King described himself - "like the Founding Fathers" - as an advocate for Western values and "simply a nationalist". Tom Emmer, R-Minn., wouldn't say whether the party will support King in his next election.
Launching on April 5, VivePort Infinity will allow users to sign up and gain instant access to more than 500 titles in the store. This includes titles from indie developer and shorter experiences you might not have trusted to spend your money on before.
The New Year brought bad news for PC manufacturers as shipments dropped by 4.3% in Q4 of 2018 and 1.3% for the year. Additionally, said Kitagawa, political and economic uncertainties in certain countries reduced the demand for PCs.
Midwest winter storm turns deadly on roads
The southern half of Iowa is getting ice and snow, and below Missouri, cold rain is falling on the Sun Belt. It is poised to leave a blanket of snow this weekend over more than 1,500 miles from Denver to Washington.
Thousands of child bride requests approved by the US
In the meantime, USCIS developed a system that flags applicants for minors and requires officials to verify their birth date. Citizenship and Immigration Services "approved 3,595,447 petitions for spousal or fiancé entry into the United States".
Leeds United in talks to sign Real Madrid keeper Kiko Casilla?
Leeds have been looking for a goalkeeper since November, when Chelsea loanee Jamal Blackman broke his leg in an under-23s match. Casilla started his career in the youth ranks at Real Madrid before then moving away to make his mark at senior level.
Trump says changes coming on high-tech visas
Immigration officials are also requesting additional evidence and applying more scrutiny to applications than in the past. Trump, a Republican, has embraced changes to the immigration system to favor educated or highly skilled people.
Australian teenager dies in Austria avalanche
BBC Weather forecaster Alina Jenkins said heavy snow hit Germany , Austria, Turkey and the Balkans on Thursday (10 January). Sydney student Max Meyer was on a holiday to Austria with his family when he was tragically caught in an avalanche.
Huawei employee arrested over alleged spying
He also said no further details would be released now about the case because it is classified and the investigation is ongoing. Last month, a senior European Union official warned that the bloc should be "worried" about Huawei and other Chinese firms.
Bank of Canada keeps interest rate unchanged
Consumption and housing investment have also been weaker than expected as lending rates increased. Crude oil gained sharply today on positive headlines relating to China & U.S trade talks.