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How those ubiquitous 20%-off coupons backfired on Bed Bath & Beyond

Published Tue, 05 Nov 2024 14:06:14 GMT

By Nathaniel Meyersohn | CNNFor decades, blue and white paper coupons defined Bed Bath & Beyond’s brand, popping up everywhere from the movie “Old School” to notorious mobster Whitey Bulger’s junk drawer.But the iconic 20%-off coupons, which became known as Big Blue, ultimately contributed to the cornerstone retailer’s fall into bankruptcy. On Wednesday, Bed Bath & Beyond will stop honoring Big Blue coupons for good.Once a hugely popular marketing tool, the coupons backfired as the retailing business changed.READ MORE: Shuttered Bay Area Bed Bath & Beyond stores may be tricky to refillThey eroded Bed Bath & Beyond’s profit margins, hurt its brand image and trained customers to only shop at stores if they had a coupon stashed away. This made it much harder for Bed Bath & Beyond to sell merchandise at full price, as customers began to perceive Bed Bath & Beyond’s products as overpriced unless they had a coupon. That led to, perhaps, the inevitable bankruptcy.“I...

Atlantic Union: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 14:06:14 GMT

RICHMOND, Va. (AP) — RICHMOND, Va. (AP) — Atlantic Union Bankshares Corporation (AUB) on Tuesday reported first-quarter net income of $35.7 million.The bank, based in Richmond, Virginia, said it had earnings of 44 cents per share. Earnings, adjusted for non-recurring costs, came to 63 cents per share.The holding company for Atlantic Union Bank posted revenue of $227.2 million in the period. Its revenue net of interest expense was $166.9 million, missing Street forecasts.Atlantic Union shares have decreased nearly 8% since the beginning of the year. The stock has dropped 10% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AUB at https://www.zacks.com/ap/AUBSource

Biden announces 2024 reelection bid: ‘Let’s finish this job’

Published Tue, 05 Nov 2024 14:06:14 GMT

WASHINGTON (AP) — President Joe Biden on Tuesday formally announced that he is running for reelection in 2024, asking voters to give him more time to “finish the job” he began when he was sworn in to office and to set aside their concerns about extending the run of America’s oldest president for another four years.Biden, who would be 86 at the end of a second term, is betting his first-term legislative achievements and more than 50 years of experience in Washington will count for more than concerns over his age. He faces a smooth path to winning his party’s nomination, with no serious Democratic rivals. But he’s still set for a hard-fought struggle to retain the presidency in a bitterly divided nation.The announcement, in a three-minute video, comes on the four-year anniversary of when Biden declared for the White House in 2019, promising to heal the “soul of the nation” amid the turbulent presidency of Donald Trump — a goal that has remained elusive. “I said we are in a battle for ...

PulteGroup: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 14:06:14 GMT

ATLANTA (AP) — ATLANTA (AP) — PulteGroup Inc. (PHM) on Tuesday reported first-quarter earnings of $532.3 million.On a per-share basis, the Atlanta-based company said it had profit of $2.35.The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.78 per share.The homebuilder posted revenue of $3.58 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $3.27 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PHM at https://www.zacks.com/ap/PHMSource

Big US sales push up GM’s 1Q profit; company raises guidance

Published Tue, 05 Nov 2024 14:06:14 GMT

DETROIT (AP) — Strong sales in the U.S. helped General Motors increase its first-quarter net profit 19% over a year ago, leading the company to raise its full-year profit guidance based on expectations demand for its vehicles will remain robust.The Detroit automaker said Tuesday that it made $2.37 billion from January through March, up from $1.99 billion in the previous year. Excluding a $900 million charge to pay severance packages to about 5,000 white-collar workers who took buyouts during the quarter, GM made $2.21 per share. That soundly beat analysts’ estimates of $1.72, according to FactSet.Revenue for the quarter came in just shy of $40 million, up 11% from a year ago and beating analysts’ expectations of $38.55 billion. The strong quarter prompted the company to raise its pretax profit guidance for the full year to a range of $11 billion to $13 billion. Previously it was $10.5 billion to $12.5 billion.Chief Financial Officer Paul Jacobson wouldn’t make a pr...

GE HealthCare: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 14:06:14 GMT

CHICAGO (AP) — CHICAGO (AP) — GE HealthCare Technologies Inc. (GEHC) on Tuesday reported net income of $372 million in its first quarter.On a per-share basis, the Chicago-based company said it had net income of 41 cents. Earnings, adjusted for one-time gains and costs, came to 85 cents per share.The medical technology company posted revenue of $4.71 billion in the period.GE HealthCare expects full-year earnings in the range of $3.60 to $3.75 per share._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GEHC at https://www.zacks.com/ap/GEHCSource

TransUnion: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 14:06:14 GMT

CHICAGO (AP) — CHICAGO (AP) — TransUnion (TRU) on Tuesday reported first-quarter earnings of $52.6 million.On a per-share basis, the Chicago-based company said it had profit of 27 cents. Earnings, adjusted for one-time gains and costs, were 80 cents per share.The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.The credit reporting company posted revenue of $940.3 million in the period, also exceeding Street forecasts. Thirteen analysts surveyed by Zacks expected $913.7 million.For the current quarter ending in June, TransUnion expects its per-share earnings to range from 81 cents to 83 cents.The company said it expects revenue in the range of $948 million to $958 million for the fiscal second quarter.TransUnion expects full-year earnings in the range of $3.49 to $3.62 per share, with revenue ranging from $3.83 billion to $3.89 billion._____This story was generated by Automat...

Polaris Inc: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 14:06:14 GMT

MEDINA, Minn. (AP) — MEDINA, Minn. (AP) — Polaris Inc. (PII) on Tuesday reported first-quarter earnings of $113.4 million.On a per-share basis, the Medina, Minnesota-based company said it had net income of $1.95. Earnings, adjusted for amortization costs and non-recurring costs, were $2.05 per share.The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.73 per share.The snowmobile and ATV maker posted revenue of $2.18 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $1.95 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PII at https://www.zacks.com/ap/PIISource

Spotify: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 14:06:14 GMT

LUXEMBOURG (AP) — LUXEMBOURG (AP) — Spotify Technology SA (SPOT) on Tuesday reported a loss of $241.4 million in its first quarter.On a per-share basis, the Luxembourg-based company said it had a loss of $1.24.The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of $1.01 per share.The music-streaming service operator posted revenue of $3.26 billion in the period, which also did not meet Street forecasts. Nine analysts surveyed by Zacks expected $3.39 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPOT at https://www.zacks.com/ap/SPOTSource

Dow Inc.: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 14:06:14 GMT

MIDLAND, Mich. (AP) — MIDLAND, Mich. (AP) — Dow Inc. (DOW) on Tuesday reported a loss of $93 million in its first quarter.On a per-share basis, the Midland, Michigan-based company said it had a loss of 13 cents. Earnings, adjusted for one-time gains and costs, came to 58 cents per share.The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.The materials science posted revenue of $11.85 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $11.34 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DOW at https://www.zacks.com/ap/DOWSource