Citigroup’s earnings results showed a bit of bifurcation in consumer spending, as higher credit scoring individuals continue to use their cards and lower FICO consumers are falling behind a bit amid evidence of budget tightening. The company’s earnings release indicates that spending on Citi’s cards...
Banks today are caught between an ongoing digital shift and a challenging macro environment. With the release of Wells Fargo’s second quarter 2024 earnings on Friday (July 12), deftly navigating the two, as well as staying on top of compliance and risk management, was revealed...
JPMorgan’s latest results, released Friday (July 12), showed that consumers continued to use their cards in full force, for both debit and credit payments. And though there are pockets of weakness in spending from lower income cohorts, according to management, spending trends are still strong...
PepsiCo’s snack food revenues dipped during its latest quarter as consumers continued to exercise caution. The food and beverage giant released second-quarter earnings results Thursday (July 11) showing revenue growth of 1.9%, down from 13% the same quarter last year. In commentary released before the...
Tesla’s dominance of the American electric car market has faded, even as vehicle sales surge. The company’s share of the electric vehicle (EV) market fell just below 50% in the second quarter of the year, The New York Times reported Tuesday (July 9), citing new...
Challenges in the retail environment and the pharmacy industry have led Walgreens Boots Alliance to consider closing as many as 25% of its U.S. retail stores. These Walgreens stores do not contribute to the firm’s adjusted operating income, and the company expects that a “significant...
Levi Strauss & Co. is seeing its digital channels drive direct-to-consumer (D2C) growth, with eCommerce customers proving willing to pay full price and to spring for premium products. The apparel company shared in its second-quarter fiscal 2024 financial results, reported Wednesday (June 26), that it...
The majority of consumers now seek out both digital and physical channels in their car buying journey, according to CarMax, and this omnichannel adoption continues to grow. The used vehicle retailer shared on a call with analysts Friday (June 21) discussing its first-quarter fiscal 2025...
Darden Restaurants saw its same-store sales slip at its fine dining locations amid consumers’ concerns about inflation and the job market. Rick Cardenas, president and CEO at Darden Restaurants, said Thursday (June 20) that those concerns are greatest among consumers with incomes below the median...
