Forever 21, once a fast-fashion powerhouse with over 800 global locations, is now asking for a 50% rent reduction from landlords due to declining sales and fierce competition. The company’s failure to adapt to changing consumer trends and manage its inventory efficiently has led to its current predicament. Despite its financial woes, Forever 21 has
Inventory
Recent data from the Mortgage Bankers Association showed that while mortgage rates dropped to the lowest level since March, consumer response was lackluster. Despite the decrease in the average contract interest rate for 30-year fixed-rate mortgages, total mortgage application volume only rose by 0.9% compared to the previous week. Interestingly, while refinance demand dropped by
Investors are always on the lookout for opportunities to protect their portfolios from market volatility and enhance returns. One way to achieve this is by investing in dividend-paying stocks. These stocks not only offer a regular income stream through dividends but also have the potential for long-term growth. One of the top dividend picks recommended
The real estate market is currently experiencing a surge in new listings, with an increase of 13% from a year ago. However, despite the rise in properties being listed for sale, homes are taking longer to sell as potential buyers are facing high prices and interest rates. This is creating a situation where the number
In the past week, mortgage rates experienced significant fluctuations due to economic data releases and overall market conditions. The Mortgage Bankers Association reported a surge of nearly 16% in total mortgage applications, driven by a decrease in rates for 30-year fixed-rate mortgages. However, this trend was short-lived as rates bounced back up following a stronger-than-expected
Experts in the real estate industry seem to have conflicting views on where the housing market is headed in the latter half of the year. While some, like Glenn Kelman from Redfin, are optimistic about improvements, others remain cautious about predicting market trends. Kelman believes that the housing market has hit rock bottom in the
The first pick by the Street’s top pros is off-price retailer Burlington Stores (BURL). The company demonstrated positive results for the first quarter of fiscal 2024 and raised both its profit margin and earnings outlook for the year. Jefferies analyst Corey Tarlowe, who reaffirmed a buy rating on BURL, raised the price target to $275
Costco Wholesale managed to exceed Wall Street’s expectations in its third-quarter earnings report, showcasing strong sales growth and lower operating expenses. The company’s total revenue for the quarter reached $58.52 billion, marking a 9.1% increase from the previous year and surpassing analysts’ estimates. Additionally, earnings per share came in at $3.78, outperforming forecasts and displaying
In April, signed sales contracts on existing homes dropped by 7.7% compared to March, marking the slowest pace since April 2020, according to the National Association of Realtors. This decline in pending sales, which are considered a forward-looking indicator of closed sales in the coming months, was also 7.4% lower than in April of the
Abercrombie & Fitch recently announced its strongest first quarter results in history, surpassing expectations and delighting investors. The retail giant experienced a 22% increase in sales compared to the previous year, with profits soaring to nearly seven times higher than anticipated. This exceptional performance demonstrates the company’s ability to navigate seasonal transitions and deliver relevant