Nintendo Adjusts Its Sales Predictions Downwards
Hello and welcome to The Rundown. Nintendo released its sales forecast this morning. As expected, things aren’t looking up for the WiiU. At the beginning of the company’s last fiscal year in April of 2013, Nintendo predicted that they would sell nine million consoles in a year. That was seriously ambitious, especially considering the Xbox One and PlayStation4 were released globally just in time for Christmas. How Nintendo really expected to move 9 million WiiUs is beyond me. The revised
KBB Projects 15.6 Million New-Car Sales In 2013 & 16.3 Million For 2014
It's been a rip-roaring year for auto sales, and Kelley Blue Book thinks that the current trend will continue through at least 2014. The firm predicts a total of 15.63 million U.S. new-car sales in calendar year 2013, and even higher figures for next year. KBB expects December sales stats to be strong -- right around 1.42 million units. That would...
Nintendo Slashes Wii U Sales Forecast
Nintendo has slashed its fiscal year sales forecast for the Wii U, another potentially troubling sign for the video game console. In a statement released Friday, Nintendo says it has revised its sales forecast for the Wii U to 2.8 million sold during the fiscal year between April 2013 and this March. "Sales in the U.S.
Macy’s Profit Beats Expectations On Stronger Sales
Macy's reported a quarterly profit that handily beat Wall Street expectations on Wednesday, with the department store chain citing stepped up advertising for a stronger sales. Its shares surged more than 7 percent in premarket trading. Macy's earned $177 million, or 47 cents per share. That compares with $145 million, or 36 cents per share, a year ago. Revenue rose 3 percent to $6.28 billion. Analysts expected earnings per share of 39 cents on revenue of $6.19 billion.
BlackBerry's Q2 Earnings As Ugly As Expected
BlackBerry released its second-quarter earnings report and it's just as bad as the company warned it would be. BlackBerry posted an operating loss of $965 million on sales of $1.6 billion, which marked a 49% year-over-year decline in revenues. BlackBerry reported that its cash reserves have started to bleed out, as its $2.6 billion in reported cash marked a $500 million decline from the $3.1 billion it
The App Store Will Never Get Nintendo Games
Hello and welcome to The Rundown. Today’s focus: Nintendo has come under fire for refusing to develop games on mobile platforms. Instead of creating versions of Mario, Zelda, or Metroid for iOS and Android marketplaces, Nintendo President Satoru Iwata stated that his company’s focus would remain with the 3DS, its handheld gaming console. This criticism has come on the heels of a tough fiscal year for Nintendo; the company failed to meet its sales goals as WiiU sales have been far slower th
Colorado Legalized Marijuana Tax Revs Ahead Of Expectations: Moody's
Colorado, the first state to tax legalized recreational marijuana sales, expects to bring in an estimated $98 million in revenue this year, exceeding the state's original expectations by 40 percent. Moody's Investors Service said legal sales will reduce the size of the black market and revenue from legal sales will mean more tax payments flowing into state coffers. School districts will likely get $40 million, or nearly 30 percent, of the projected $134 million in total marijuana tax revenues.
McDonald's Sales Miss As Fewer Customers Visit Its Restaurants
McDonald's reported weaker-than-expected quarterly revenue as fewer customers ate at its restaurants, partly due to severe winter weather in the United States. The fast-food chain also reported a 0.1 percent decline in global sales at established restaurants in the fourth quarter ended December 31. McDonald's shares fell nearly 1 percent in premarket trading.
Daily Digit: H&M Sales Grow
4% is today's daily digit in Europe - the better-than-expected rise in sales at H&M. The world's second largest fashion retailer appears to be reflecting the fortunes of its largest market. As Europe saw the first signs of recovery, H&M reported its biggest rise in sales in 11 months. Figures for August from stores open more than a year were 1% higher than a Reuters poll predicted. Total sales for the month were also 1% higher than forecast - and rose 14%.
McDonald's: Slow Times For Fast Food
Sales at McDonald's restaurants opened at least a year surprisingly fell in the first quarter and McDonald's is predicting sales will stay down in April. That key sales measure was weaker in every major region, leading to a smaller-than-expected rise in profits. RJ Hottovy at Morningstar sees three key take-aways for the industry:
Bears Retreat as Plug Power Predicts Fourfold Growth in 2014
Fuel-cell developer Plug Power is recovering from a two-day selloff after reporting a fourth quarter better than analysts expected. Adjusted net losses of 8 cents a share were in line with analyst expectations and far narrower than last year's 22-cents-a-share loss. Revenue soared 36 percent to $8 million, and the year ahead looks even better.