The so-called wealth effect — the theory that personal spending follows stocks — has become stronger in recent years as equity holdings have tripled as a share of disposable income.
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Volkswagen sets a sales record as SUV sales surgeThe German company did especially well in China.
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UPDATE: Tailored Brands lowers Q4 guidance as Jos. A. Bank sales fall short, shares slideTailored Brands Inc.'s shares slid 11% premarket Monday, after the company lowered its fourth-quarter guidance, saying same-store sales at its Jos. A. Bank mens clothing chain came in below expectations. The company, which also operates Men's Wearhouse, K&G and Moores, said it now expects Jos. A. Bank same-store sales to be flat, versus prior guidance of up in the low single digits. Same-store sales for November and December fell 1.4%, as sales at Jos. A. Bank fell 0.1% and sales at Men's Wearhouse fell 3.6%. The company expects its overall adjusted per-share loss to range from 29 cents to 34 cents, versus prior guidance of a loss of 24 cents to 29 cents. Full-year fiscal 2018 adj. EPS is expected to range from $2.25 to $2.30 compared with prior guidance of $2.30 to $2.35. Shares have fallen 33.9% in the last 12 months, while the S&P 500 has fallen 6.8%.
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Chinese Annual Car Sales Slip for First Time in DecadesPassenger-vehicle sales in China fell last year for the first time since 1990, producing a wreck for Ford, GM and other global manufacturers, which have banked on the world’s largest car market in the face of saturation elsewhere.
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Profit and sales warnings batter retail stocks, but Lululemon shinesTailored Brands, Ann Taylor parent Ascena and airport retailer Hudson are the latest to revise guidance after holiday sales fall short of expectations.
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Alibaba Confident in China Sales Despite ‘Troubling Headwinds’“This is a market that requires patience,” Alibaba President J. Michael Evans told the National Retail Federation’s annual trade show in New York on Monday. ”But if you think about where the country is going in the long-term…The future I think looks very good, notwithstanding some troubling headwinds.”
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