Ralph Lauren cuts its outlook again, sending shares lower and that’s where we begin tonight’s market focus. The retailer slashed its full-year revenue growth forecast, blaming a stronger dollar and weak consumer spending. Net income fell during the quarter, as the company spent more on opening stores and marketing. The fashion house is raising its quarterly dividend to 50 cents a share. Still, shares tumbled 18 percent to $139.71.
Shares of Kohl’s went the other way after it reported it gave a better-than-expected financial outlook. The department store raised its earnings guidance for the year, citing strong growth in the holiday season. Shares were more than six percent higher to $66.87.
Costco’s January same-store sales were flat, missing analysts expectations. A slowing global economy was partly to blame for the warehouse retailer’s results. Still, shares rose more than one percent to $155.92.
Despite Sony’s big hack attack, its loss won’t be as bad as expected. The company trimmed its expected yearly loss, after cutting corporate costs and seeing better than expected sales of its PlayStation game consoles. Sony will spend $15 million to investigate and recover from the breach. Despite that, shares surged about 11 percent to $25.94.
A strong outlook saved Humana from investor backlash today. The health insurer’s earnings and revenue missed the street’s estimates. The company did see revenue and membership grow, but said new hepatitis c treatments and flu season expenses increased, but it says those problems are behind it and is predicting a better 2015. Shares were up more than one percent to $150.54.
A big beat from Whirlpool today. Recent acquisitions in Europe and Asia helped drive a sales increase. The appliance maker said the stronger dollar could hurt its revenue, but it has been raising prices in foreign markets to offset that. Shares popped almost seven percent to $214.88.
Yum out with earnings after the bell. The Pizza Hut and KFC owner said sales fell less than expected in china, the company’s biggest market. Revenue topped estimates, but earnings were shy. Shares initially popped after the bell. Before the close, share were up slightly to $73.65.