The auto parts retailer said higher fuel costs negatively impacted do-it-yourself business and net income and free cash flow plunged.

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The luxury home builder said new contract value plunged 44% as rising rates and home prices curbed the demand from move-up buyers.

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Toll Brothers lowered its annual home delivery guidance but lifted the average home sale price outlook. Nordstrom said it plans to aggressively manage its rising inventories. Advance Auto Parts said higher fuel cost is impacting its do-it-yourself business.

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Stocks Snap 3-day Losing Streak

Aug 24, 2022
Barry Adams
Stocks on Wall Street rebound after sliding for three days in a row. The fresh batch of quarterly results from retailers highlighted the shifting demand from consumers and elevated inflation.

Global markets are turning lower as investors navigate through slowing economic activities, hawkish central bankers committed to curbing demand, and 4-decade high inflation rooted in supply disruptions.

Dick's Sporting Goods struggles with shifting consumer behavior and persistent supply chain issues. Zoom Video revenue growth continues to decelerate. Medtronic sales fall on supply chain disruptions.

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The online video communication company sharply increased its enterprise customer base as total revenue growth decelerates sharply.

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The sporting goods retailer said sales, comparable sales, and earnings fell in its latest quarter. The company also tightened its full-year sales decline outlook as consumers shifted purchases to basic items amid soaring food and energy prices.

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Stocks lacked direction after a broad selloff on Monday and natural gas prices soared to the levels last seen in 2008. New home sales declined in July on rising prices and mortgage rates and longer construction time.

Rate path worries resurfaced and the market selloff anchored in tech stocks spread wide and deep barring the energy sector. Natural gas prices inched near $10 a unit and the volatile oil prices erased most of the 5% loss at close.

Stocks on Wall Street declined in a broad selloff after rate path worries returned and the division between Russia and the European Union deepened.

Stocks closed down amid inflation and rate worries and tech stocks led the losers. For the week, the S&P 500 declined 1.2% and the Nasdaq Composite index dropped 2.6%. The latest economic data in the euro zone and the U.K. indicated more pain ahead in the coming months.

The discount store chain operator guided same store sales to decline in third and fourth quarter as consumer stay focused and food and essential items and curtail discretionary spending.

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Foot Locker Same Store Sales Fell 10%

Aug 19, 2022
Scott Peters
The athletic footwear and apparel retailer said same store and total sales declined driving the quarterly earnings sharply lower.

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The agriculture equipment maker lifted prices higher than the cost increase and the improved volume mix drove the earnings higher.

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