Drop in quarterly sales, and it lowered its Earnings Guidance for the year, something many investors dont want to see heading into the Holiday Season. And that sent shares lower, falling nearly 14 , its worst day since 2008. Courtney reagan has more on macys meltdown. Reporter for the second straight quarter, the magic was missing at macys. The Department Store beat profit expectations but reported disappointing sales and cut its fullyear earnings forecast. Ceo Terry Lundgren said many of the issues that plagued them during the year have gotten worse, including declining Tourist Spending at its highest volume and most profitable bigcity stores and unseasonably warm weather crimping sales of coldweather merchandise. The reality is, particularly in the northeast, it is much warmer this year than last. And so, we expect thats going to continue. Thats not going to those things are just not going to change dramatically, i dont believe. And at some point in time, you run out of days to sell
Drop in quarterly sales, and it lowered its Earnings Guidance for the year, something many investors dont want to see heading into the Holiday Season. And that sent shares lower, falling nearly 14 , its worst day since 2008. Courtney reagan has more on macys meltdown. Reporter for the second straight quarter, the magic was missing at macys. The Department Store beat profit expectations but reported disappointing sales and cut its fullyear earnings forecast. Ceo Terry Lundgren said many of the issues that plagued them during the year have gotten worse, including declining Tourist Spending at its highest volume and most profitable bigcity stores and unseasonably warm weather crimping sales of coldweather merchandise. The reality is, particularly in the northeast, it is much warmer this year than last. And so, we expect thats going to continue. Thats not going to those things are just not going to change dramatically, i dont believe. And at some point in time, you run out of days to sell
Bringing conflict to the u. N. Security council. A new Global Climate deal is edging closer after nearly two weeks of tough negotiations in paris. The French Foreign minister Laurent Fabius who is leading the summit is expected to present a final report of the conference within 24 hours. Nick clark reports. Reporter all day and all night and again all day and all night. Were very close. After the consultations i will have, at 9 00 tomorrow morning ill be fest in a position to present a text that will be approved and be in place for whole of humanity. Fabius was hoping to bring a report friday night. Its a struggle. I feel like theres a light at the end of this tunnel and we can do it but there are positions that are quite hard to get to. Its very political at the moment and i think weve moved past the substance, weve got a good text, a lot we can live with, we have to push the bar and make it not the common denominator. Blocking progress, the issue of finance who pays who what. Respons
Awaited the arrival of the apple iphone 6 and 6 plus. In many locations, the six plus completely sold out. We will look at supply concerns and whether the large iphones could cannibalize the ipad. Oracle has been billions on acquisitions and has seen modest gains in revenue. Now that Larry Ellison has stepped down we look into the challenges the coceos will face as they try to adapt into the cloud age. First, to the lead. A historic day on the New York Stock Exchange as Alibaba Group started trading in the largest initial Public Offering and u. S. History. Trading began two hours and 23 minutes after the Stock Exchange opened and when it did shares were a hot item. Over 100 million trades were reported in the first 10 minutes alone. Shares nearly hit 100 before closing at 93. 89. It is sitting on a market cap greater than 231 billion larger than amazon and ebay combined. Also bigger than facebook already. What do you make of the giganticness of that market cap . I just made that up. It
Awaited the arrival of the apple iphone 6 and 6 plus. In many locations, the six plus completely sold out. We will look at supply concerns and whether the large iphones could cannibalize the ipad. Oracle has been billions on acquisitions and has seen modest gains in revenue. Now that Larry Ellison has stepped down we look into the challenges the coceos will face as they try to adapt into the cloud age. First, to the lead. A historic day on the New York Stock Exchange as Alibaba Group started trading in the largest initial Public Offering and u. S. History. Trading began two hours and 23 minutes after the Stock Exchange opened and when it did shares were a hot item. Over 100 million trades were reported in the first 10 minutes alone. Shares nearly hit 100 before closing at 93. 89. It is sitting on a market cap greater than 231 billion larger than amazon and ebay combined. Also bigger than facebook already. What do you make of the giganticness of that market cap . I just made that up. It