Gender pay gap for US soccer players is ‘untenable position,’ top sports agent Casey Wasserman says

“It’s an untenable position for U.S. Soccer,” said Casey Wasserman on CNBC’s “Squawk Box ” from Sun Valley, Idaho. At the parade Wednesday celebrating the most recent championship by the women’s team, players led the crowd in chants of “equal pay.” The men’s team has never won a World Cup and failed to qualify for the most recent tournament in 2018. “The fact that we’re talking about it and that they have to win a World Cup to really make it a thing is crazy. World Cup revenue for U.S. Soccer co


“It’s an untenable position for U.S. Soccer,” said Casey Wasserman on CNBC’s “Squawk Box ” from Sun Valley, Idaho. At the parade Wednesday celebrating the most recent championship by the women’s team, players led the crowd in chants of “equal pay.” The men’s team has never won a World Cup and failed to qualify for the most recent tournament in 2018. “The fact that we’re talking about it and that they have to win a World Cup to really make it a thing is crazy. World Cup revenue for U.S. Soccer co
Gender pay gap for US soccer players is ‘untenable position,’ top sports agent Casey Wasserman says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: jesse pound
Keywords: news, cnbc, companies, world, untenable, pay, gap, soccer, position, agent, mens, casey, paid, womens, team, cup, gender, players, wasserman


Gender pay gap for US soccer players is 'untenable position,' top sports agent Casey Wasserman says

The CEO of one of the country’s biggest sports agencies told CNBC on Thursday that the pay gap between the men’s and women’s players for the U.S. national soccer teams is shameful and cannot last.

“It’s an untenable position for U.S. Soccer,” said Casey Wasserman on CNBC’s “Squawk Box ” from Sun Valley, Idaho. “They should be paid absolutely equally as the men, period. I don’t know why it’s taking so long. I don’t even know why it’s a conversation.”

As the U.S. women’s national team completed an undefeated run to its fourth World Cup title, the players continued to speak up about their lack of pay relative to the men’s side.

The team sued the U.S. Soccer Federation in March, alleging gender discrimination. The lawsuit said that if the men’s and women’s teams both played a similar 20-game schedule of nontournament “friendlies,” the women would be paid just 38% of what the men would make.

The lawsuit also alleges the federation paid the men’s team roughly four times more in bonuses for the 2014 World Cup, when the men lost in the Round of 16, than it paid to the women’s team for winning the 2015 World Cup. According to documents obtained by The Guardian, the current labor agreements with U.S. Soccer would pay each member of the women’s team about $260,000 for winning a World Cup, compared with more than $1.1 million for each men’s player.

The team and the federation agreed to mediation in the lawsuit last month, according to The Wall Street Journal.

At the parade Wednesday celebrating the most recent championship by the women’s team, players led the crowd in chants of “equal pay.” The men’s team has never won a World Cup and failed to qualify for the most recent tournament in 2018.

“The fact that we’re talking about it and that they have to win a World Cup to really make it a thing is crazy. This should have been done a long time ago, and shame on U.S. Soccer for not doing more,” Wasserman said.

The Wasserman agency has created a new division called The Collective, which is focused on female athletes and entertainers. The agency represents about 150 female athletes, including Megan Rapinoe, who starred for the U.S. during the World Cup, and several of her teammates.

Wasserman said he believes that the players have a bigger audience than only women and girls, adding that he has had business leaders ask him which players he represents.

“It’s incredible, and I hope the world recognizes how powerful they can be,” Wasserman said.

World Cup revenue for U.S. Soccer comes in part from prize money from FIFA, the organization that runs international soccer. The total prize money available in the women’s tournament was $30 million, well short of the $400 million pot in the last men’s tournament.

The victory in the title game over the Netherlands was the most watched soccer game in the United States since 2015 and topped the 2018 men’s final by 22%. It is not clear how ratings variations affect revenue for U.S. Soccer.

The U.S. Soccer Federation did not immediately respond to a request for comment.


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: jesse pound
Keywords: news, cnbc, companies, world, untenable, pay, gap, soccer, position, agent, mens, casey, paid, womens, team, cup, gender, players, wasserman


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This is how Elizabeth Warren plans to close the pay gap for women of color

She says that “while millions of families count on Latinas and black women to deliver financially, they face a steeper climb to provide that financial security” due to bias and discrimination. On Friday, Democratic presidential candidate Elizabeth Warren released an ambitious plan to close the pay gaps that women of color face at work. Currently, black women, Native American women and Latina women make 61 cents, 58 cents and 53 cents, respectively, compared to white men. “The gap in weekly earni


She says that “while millions of families count on Latinas and black women to deliver financially, they face a steeper climb to provide that financial security” due to bias and discrimination. On Friday, Democratic presidential candidate Elizabeth Warren released an ambitious plan to close the pay gaps that women of color face at work. Currently, black women, Native American women and Latina women make 61 cents, 58 cents and 53 cents, respectively, compared to white men. “The gap in weekly earni
This is how Elizabeth Warren plans to close the pay gap for women of color Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: courtney connley
Keywords: news, cnbc, companies, elizabeth, mothers, gap, plans, companies, women, pay, black, writes, positions, warren, white, color, close


This is how Elizabeth Warren plans to close the pay gap for women of color

Warren cited data that indicates that more than 70% of black mothers and more than 40% of Latina mothers are the sole breadwinners in their families, compared to less than a quarter of white mothers. She says that “while millions of families count on Latinas and black women to deliver financially, they face a steeper climb to provide that financial security” due to bias and discrimination.

In a Medium post, the Massachusetts senator writes that if elected, on day one of her presidency she would implement a set of executive actions that would “boost wages for women of color and open up new pathways to the leadership positions they deserve.”

On Friday, Democratic presidential candidate Elizabeth Warren released an ambitious plan to close the pay gaps that women of color face at work.

Sen. Elizabeth Warren (D-MA) speaks on during the first night of the Democratic presidential debate on June 26, 2019 in Miami, Florida.

Currently, black women, Native American women and Latina women make 61 cents, 58 cents and 53 cents, respectively, compared to white men. “And it’s getting worse,” writes Warren. “The gap in weekly earnings between white and black women is higher today than it was 40 years ago. ”

To fix this problem, Warren says that as president she would deny federal contracts to companies with a poor track record of diversity and equal pay, implement a minimum wage salary of $15 an hour (since black and brown women disproportionately occupy low-wage jobs), ban companies from asking applicants about their salary and criminal histories, and ban companies from using forced arbitration and non-compete clauses that “make it harder for employees to fight wage theft, discrimination and harassment.”

Additionally, Warren points out that women of color also face a steeper climb to higher-level management positions. “Even though black women and Latinas are often the leaders and decision-makers in their own homes and communities, they hold only one spot on the Fortune 500 CEO list and less than 5% of Fortune 500 Board positions, ” she writes.

Currently, Mary Winston, who was appointed interim CEO of Bed, Bath & Beyond in May, is the only black woman leading a Fortune 500 company.

Warren writes that she would provide companies with resources to attract applicants from Historically Black Colleges and Universities (HBCUs), Tribal Colleges and Universities and other minority-serving institutions. She says she would also create paid fellowship programs for federal jobs for minority and low-income candidates and she would require every federal agency to make diversity a core part of its strategic plan. This includes, she says, creating a government-wide mentorship program focused on black and brown employees.

“It’s time to build an America that recognizes the role that women of color play in their families and in the economy,” writes Warren, “that fairly values their work, and that delivers equal opportunity for everyone.”

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Don’t miss: Abortion, equal pay, family leave: Here are all the women’s rights policies proposed by 2020 candidates so far


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: courtney connley
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The gender wage gap widens among educated workers

The economy is slowing, but not as bad as private payrolls report…Economists say while the soft ADP number is an anomaly, they do think the job market is weakening and will worsen if Trump moves forward with tariffs. Market Insiderread more


The economy is slowing, but not as bad as private payrolls report…Economists say while the soft ADP number is an anomaly, they do think the job market is weakening and will worsen if Trump moves forward with tariffs. Market Insiderread more
The gender wage gap widens among educated workers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: annie nova
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The gender wage gap widens among educated workers

The economy is slowing, but not as bad as private payrolls report…

Economists say while the soft ADP number is an anomaly, they do think the job market is weakening and will worsen if Trump moves forward with tariffs.

Market Insider

read more


Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: annie nova
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Stocks making the biggest moves midday: Constellation Brands, Gap, TiVo & more

The company posted a profit of 81 cents per share, beating a Refinitiv estimate of 69 cents per share. Red Robin Gourmet Burgers — Red Robin shares dropped 17.2% after the company reported quarterly earnings that badly missed expectations. Gap — Gap sank 9.3% after the apparel retailer reported first-quarter earnings that missed estimates. Dell reported revenue of $21.99 billion, missing a Refinitiv estimate of $22.24 billion. Wall Street expected a profit of 29 cents a share on sales of $479.4


The company posted a profit of 81 cents per share, beating a Refinitiv estimate of 69 cents per share. Red Robin Gourmet Burgers — Red Robin shares dropped 17.2% after the company reported quarterly earnings that badly missed expectations. Gap — Gap sank 9.3% after the apparel retailer reported first-quarter earnings that missed estimates. Dell reported revenue of $21.99 billion, missing a Refinitiv estimate of $22.24 billion. Wall Street expected a profit of 29 cents a share on sales of $479.4
Stocks making the biggest moves midday: Constellation Brands, Gap, TiVo & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: fred imbert
Keywords: news, cnbc, companies, midday, revenue, making, company, refinitiv, shares, share, reported, gap, constellation, cents, biggest, earnings, tivo, brands, million, sales, stocks, moves


Stocks making the biggest moves midday: Constellation Brands, Gap, TiVo & more

Check out the companies making headlines midday Friday:

Constellation Brands, Calavo Growers, Chipotle Mexican Grill — Shares of the Corona and Modelo beer marker fell more than 5% as investors worried tariffs on Mexican goods would increase Constellation Brands’ import costs. Calavo Growers and Chipotle, meanwhile fell as the threat of Mexican tariffs stoked fears of higher avocado prices.

Ford, General Motors — Ford and GM were pressured by President Donald Trump’s threat to slap tariffs on Mexican imports. Both Ford and GM have operations in Mexico that could be impacted by such levies. Ford shares declined 2.3% while GM slid 4.3%.

Williams-Sonoma — Williams-Sonoma shares soared 13.4% after the household items retailer reported better-than-expected quarterly earnings. The company posted a profit of 81 cents per share, beating a Refinitiv estimate of 69 cents per share. Same-store sales jumped 3.5%, surpassing the expected 1.7% rise.

Zuora — Shares of Zuora plunged 29.7% after the cloud company gave weak guidance for the current fiscal year. Zuora expects its full-year revenue to range between $269 million and $278 million. A Refinitiv estimate projected $291.1 million in revenue.

Red Robin Gourmet Burgers — Red Robin shares dropped 17.2% after the company reported quarterly earnings that badly missed expectations. The company posted adjusted first-quarter earnings of 19 cents a share. Analysts polled by Refinitiv expected a profit of 49 cents a share.

TiVo — TiVo shares jumped 6.5% after the company hiked its full-year 2019 earnings outlook. The company expects adjusted EBITDA to range between $175 million and $185 million. That’s up from a range of $172 million and $178 million. TiVo also raised its revenue guidance for the year.

Gap — Gap sank 9.3% after the apparel retailer reported first-quarter earnings that missed estimates. The retailer reported earnings of 24 cents per share, 8 cents below a Refinitiv estimate, and revenues of $3.71 billion, falling $60 million short of estimates. Gap also posted a 4% drop in same-store sales, its biggest in three years.

Dell Technologies — Shares of computer company Dell plummeted more than 10.3% after the company’s first-quarter revenue missed expectations. Dell reported revenue of $21.99 billion, missing a Refinitiv estimate of $22.24 billion. The company said it saw demand in China slow down while server sales dropped.

Big Lots — Big Lots rose more than 6% after reporting better-than-expected first-quarter results. Big Lots posted earnings per share of 92 cents on revenue of $1.296 billion. Wall Street estimated earnings per share of 70 cents on revenue of $1.295 billion, according to Refinitiv.

Genesco — Shares of Journey’s owner Genesco surged more than 11% on stronger-than-forecast quarterly results. The retailer earned 29 cents per share on revenue of $495.7 million. Wall Street expected a profit of 29 cents a share on sales of $479.4 million. The company’s same-store sales also crushed expectations, increasing 5%. Analysts expected same-store sales growth of 0.6%.

—CNBC’s Nadine El-Bawab and Maggie Fitzgerald contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: fred imbert
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Stocks making the biggest moves premarket: Ford, GM, Uber, Gap, Costco, Ulta, Dell & more

Revenue beat forecasts as well, and a comparable-store sales increase of 5% beat the 0.6% consensus of analysts polled by Refinitiv. Gap Inc. – Gap earned an adjusted 24 cents per share for its latest quarter, 8 cents a share below consensus forecasts. Costco – Costco beat estimates by 7 cents a share, with adjusted quarterly profit of $1.89 per share. Dell Technologies – Dell reported adjusted quarterly earnings of $1.45 per share, 24 cents a share above estimates. Okta – Okta reported an adjus


Revenue beat forecasts as well, and a comparable-store sales increase of 5% beat the 0.6% consensus of analysts polled by Refinitiv. Gap Inc. – Gap earned an adjusted 24 cents per share for its latest quarter, 8 cents a share below consensus forecasts. Costco – Costco beat estimates by 7 cents a share, with adjusted quarterly profit of $1.89 per share. Dell Technologies – Dell reported adjusted quarterly earnings of $1.45 per share, 24 cents a share above estimates. Okta – Okta reported an adjus
Stocks making the biggest moves premarket: Ford, GM, Uber, Gap, Costco, Ulta, Dell & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, premarket, gap, sales, share, cents, dell, comparablestore, forecasts, stocks, moves, gm, making, revenue, consensus, ulta, retailers, quarterly, uber, adjusted, ford


Stocks making the biggest moves premarket: Ford, GM, Uber, Gap, Costco, Ulta, Dell & more

Check out the companies making headlines before the bell:

Big Lots – The discount retailer reported adjusted quarterly earnings of 92 cents per share, compared to a consensus estimate of 70 cents a share. Revenue was slightly above forecasts, although comparable-store sales were up a less-than-expected 1.5%. Big Lots also raised its full-year profit forecast.

Genesco – The apparel and accessories retailer earned an adjusted 33 cents per share for its latest quarter, well above the consensus estimate of 4 cents a share. Revenue beat forecasts as well, and a comparable-store sales increase of 5% beat the 0.6% consensus of analysts polled by Refinitiv.

Ford Motor, General Motors – These and other auto stocks are falling this morning following President Donald Trump’s threat to impose tariffs on Mexican imports. GM is the largest automaker in Mexico with 14 plants, among the companies taking advantage of proximity to the U.S. border and lower labor costs.

Uber Technologies — Uber posted a loss of $1.01 billion in its first quarter as a public company, matching Wall Street’s forecasts. Revenue was slightly above expectations and up 20% over a year earlier.

Gap Inc. – Gap earned an adjusted 24 cents per share for its latest quarter, 8 cents a share below consensus forecasts. The apparel retailer’s revenue was also below forecasts, and a same store sales decline of 4% was larger than the 1.2% drop that analysts had been expecting. The same-store sales decline was most prominent at the Gap flagship brand.

Costco – Costco beat estimates by 7 cents a share, with adjusted quarterly profit of $1.89 per share. The warehouse retailer’s revenue was also above forecasts. Comparable-store sales rose 5.5%, just under the consensus forecast for a 5.6% increase.

Ulta Beauty – Ulta reported quarterly profit of $3.26 per share, compared to a consensus estimate of $3.07 a share. The cosmetics retailer’s revenue was slightly below forecasts, with comparable-store sales in line with estimates. Ulta also raised its full-year guidance.

Williams-Sonoma – Williams-Sonoma came in 12 cents a share above estimates, with quarterly earnings of 81 cents per share. The housewares retailer’s revenue matched Street forecasts. Comparable-store sales were up 3.5%, more than double the 1.7% consensus estimate. Williams-Sonoma also raised its full-year earnings outlook.

Dell Technologies – Dell reported adjusted quarterly earnings of $1.45 per share, 24 cents a share above estimates. The computer maker’s revenue came in below forecasts on slowing demand in China.

Amazon.com – Amazon is interested in buying Boost Mobile from T-Mobile US and Sprint, according to Reuters. T-Mobile and Sprint are planning to sell the prepaid mobile brand in order to get their planned merger approved by regulators.

Okta – Okta reported an adjusted quarterly loss of 19 cents per share, 2 cents a share smaller than Wall Street had expected. The maker of identity management software also saw better-than-expected revenue during the quarter, as subscription revenue grew 52% compared to a year earlier.

Kraft Heinz – Piper Jaffray upgraded the food maker’s stock to “neutral” from “underweight,” saying caution about the company’s outlook is reflected in its current valuation. The stock has lost more than half its value over the past year.


Company: cnbc, Activity: cnbc, Date: 2019-05-31  Authors: peter schacknow, fred imbert
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Stocks making the biggest moves after hours: Uber, Gap, Zuora and more

The company reported a net loss of $1.01 billion and revenue of $3.10 billion. The company reported earnings of 24 cents per share, 8 cents lower than expected, and revenue of $3.71 billion, $60 million lower than expected. Zuora reported a loss of 11 cents per share, versus Refinitiv’s expected loss of 13 cents. The company reported earnings of 81 cents per share, versus the 69 cents expected. Shares of Dell Technologies dropped 3% after the computer software company reported mixed first-quarte


The company reported a net loss of $1.01 billion and revenue of $3.10 billion. The company reported earnings of 24 cents per share, 8 cents lower than expected, and revenue of $3.71 billion, $60 million lower than expected. Zuora reported a loss of 11 cents per share, versus Refinitiv’s expected loss of 13 cents. The company reported earnings of 81 cents per share, versus the 69 cents expected. Shares of Dell Technologies dropped 3% after the computer software company reported mixed first-quarte
Stocks making the biggest moves after hours: Uber, Gap, Zuora and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: nadine el-bawab
Keywords: news, cnbc, companies, uber, revenue, reported, earnings, making, gap, million, share, moves, expected, company, billion, cents, stocks, loss, zuora, biggest, hours


Stocks making the biggest moves after hours: Uber, Gap, Zuora and more

Uber CEO Dara Khosrowshahi (center) joins other employees in ringing the Opening Bell at the New York Stock Exchange (NYSE) as the ride-hailing company Uber makes its highly anticipated initial public offering (IPO) on May 10, 2019 in New York City.

Check out the companies making headlines after the bell:

Shares of Uber jumped nearly 3% in extended trading after the ride-hailing company reported better-than-expected revenue its first quarterly report since going public earlier this year. The company reported a net loss of $1.01 billion and revenue of $3.10 billion. Wall Street had expected a net loss of $1.01 billion on revenue of $3.04 billion, according to Refinitiv consensus estimates.

Shares of Gap sank more than 11% after the retailer reported first-quarter earnings that fell short of expectations. Gap reported a 4% drop in same-store sales, wider than the 1.1% drop that was expected. The company reported earnings of 24 cents per share, 8 cents lower than expected, and revenue of $3.71 billion, $60 million lower than expected.

Ulta Beauty stock dropped 2% after the makeup retailer reported mixed first-quarter results. Ulta reported earnings of $3.26 per share, 19 cents higher than expected, but revenue of $1.74 billion, $10 million lower than expected. Comparable store sales were in line with expectations.

Nutanix stock plunged 15% after the software company posted weak quarterly results and revenue guidance for the upcoming fourth-quarter. The company expects a fourth-quarter loss of about 65 cents per share and revenue between $280 million and $310 million. Analysts had expected a loss of 49 cents per share for the coming quarter.

Nuntanix reported a third-quarter loss of 56 cents per share and revenue of $288 million, while analysts surveyed by Refinitiv projected a loss of 60 cents per share and revenue of $297 million.

Zuora lost a quarter of its market value after the cloud company gave weak guidance for the current fiscal year. The company said full-year revenue would fall between $268 million and $278 million, below the $291.1 million consensus estimate. Zuora reported a loss of 11 cents per share, versus Refinitiv’s expected loss of 13 cents. Revenue fell practically in line with Wall Street expectations.

Shares of Williams-Sonoma surged 12% after the home goods retailer reported first-quarter earnings that surpassed analyst expectations. The company reported earnings of 81 cents per share, versus the 69 cents expected. Comparable sales jumped 3.5%, versus the expected 1.7% rise. Revenues were in line with estimates.

Shares of Dell Technologies dropped 3% after the computer software company reported mixed first-quarter results. Dell reported earnings of $1.45 per share on revenue of $22 billion, while analysts had expected earnings of $1.21 per share on revenue of $22.2 billion, according to Refinitiv consensus estimates.

Shares of Okta popped more than 6% after the cloud company reported a loss of 19 cents per share, better than Refinitiv’s expected loss of 21 cents per share, and revenue of $125.2 million, higher than the expected $116.9 million.


Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: nadine el-bawab
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Gap shares tank 11% on earnings miss, CEO calls quarter ‘extremely challenging’

Gap Inc. shares tanked Thursday after the apparel retailer reported quarterly earnings and sales short of Wall Street estimates, and slashed its full-year profit outlook. The apparel retailer’s shares cratered more than 10% in after-hours trading, having closed the day at a fresh low of $20.60, a level not seen since June 2016. CEO Art Peck called the latest quarter “extremely challenging,” saying he was “not at all satisfied” with the results. But Gap is also still struggling to get its product


Gap Inc. shares tanked Thursday after the apparel retailer reported quarterly earnings and sales short of Wall Street estimates, and slashed its full-year profit outlook. The apparel retailer’s shares cratered more than 10% in after-hours trading, having closed the day at a fresh low of $20.60, a level not seen since June 2016. CEO Art Peck called the latest quarter “extremely challenging,” saying he was “not at all satisfied” with the results. But Gap is also still struggling to get its product
Gap shares tank 11% on earnings miss, CEO calls quarter ‘extremely challenging’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: lauren thomas
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Gap shares tank 11% on earnings miss, CEO calls quarter 'extremely challenging'

Gap Inc. shares tanked Thursday after the apparel retailer reported quarterly earnings and sales short of Wall Street estimates, and slashed its full-year profit outlook.

The apparel retailer’s shares cratered more than 10% in after-hours trading, having closed the day at a fresh low of $20.60, a level not seen since June 2016.

CEO Art Peck called the latest quarter “extremely challenging,” saying he was “not at all satisfied” with the results. “We are committed to improving our execution and performance this year,” he said.

Peck partially blamed one of the “coldest, wettest quarters in memory” for the poor results, which he said influenced more shoppers to stay inside. He said business was “extremely slow” in February.

But Gap is also still struggling to get its products on par with what women and men are shopping for today. And that’s arguably more difficult to do as fast-fashion retailers like Zara, with leaner supply chains, are churning new styles of dresses, denim and accessories into stores every week.

Here’s what Gap reported for its fiscal first quarter, compared with what analysts were expecting, based on Refinitiv data:

Earnings per share, adjusted: 24 cents vs. 32 cents expected

Revenues: $3.71 billion vs. $3.77 billion expected

Same-store sales: down 4% vs. a 1.1% drop expected

Gap during the latest quarter earned $227 million, or 60 cents per share, compared with $164 million, or 42 cents a share, a year ago. Excluding one-time charges, it earned 24 cents a share, missing analysts’ estimates for 32 cents.

Sales fell to $3.71 billion from $3.78 billion a year ago, short of estimates for $3.77 billion.

Same-store sales at Gap’s namesake brand were down 10%, compared with a drop of 4% a year ago. Same-store sales at Old Navy — typically the brightest spot at Gap Inc. — were down 1%, compared with an increase of 3% a year ago. Banana Republic same-store sales were down 3%, compared with 3% growth this same quarter in 2018.

The San Francisco-based retailer cut its annual profit outlook and now expects adjusted earnings per share to fall within a range of $2.05 to $2.15 this year, compared with a prior range of $2.40 to $2.55. It also forecast company-wide same-store sales to be down low single digits in fiscal 2019.

With inventories piled up after a weak first quarter, CFO Teri List-Stoll warned Gap might have to use more promotional activity in the coming months to try to move unsold dresses and tops off shelves. And that will weigh on gross margins.

Gap also said Thursday it plans to shut 130 Gap-branded stores in the fiscal fourth quarter, part of a previously announced pruning of the namesake brand’s real estate. It’s still focused on opening stores, however, under its Old Navy banner, its women’s athleisure business Athleta and the Gap brand in China.

The disappointing report from Gap comes as a slew of apparel retailers ranging from Canada Goose to Abercrombie & Fitch to J.Jill have reported poor earnings this week, dragging down the S&P 500 Retail ETF (XRT). That index of stocks has fallen more than 11% so far this month. Gap shares are down about 20% so far this year.

Gap shares had surged more than 20% on Feb. 28, when the retailer announced plans to spin off its Old Navy brand into its own public company, leaving Gap’s other brands, including its namesake one, in a new, still-unnamed holding company. That deal isn’t expected to be complete until 2020.

Peck on Thursday said the retailer still “remain[s] confident in our plan to separate into two independently traded public companies.”

Tariffs, meanwhile, remain another issue for apparel retailers like Gap, with the White House still considering a 25% tax on consumer goods like clothing and footwear imported from China.

“We’ve been migrating sourcing out of China for the last several years and we’ll continue to do this responsibly going forward,” Peck told analysts on a post-earnings conference call. About three years ago, roughly 25% of Gap’s products were manufactured in China, he said, and now that’s down to 21%.


Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: lauren thomas
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Stocks making the biggest moves after hours: Uber, Gap, Zuora and more

The company reported a net loss of $1.01 billion and revenue of $3.10 billion. The company reported earnings of 24 cents per share, 8 cents lower than expected, and revenue of $3.71 billion, $60 million lower than expected. Zuora reported a loss of 11 cents per share, versus Refinitiv’s expected loss of 13 cents. The company reported earnings of 81 cents per share, versus the 69 cents expected. Shares of Dell Technologies dropped 3% after the computer software company reported mixed first-quarte


The company reported a net loss of $1.01 billion and revenue of $3.10 billion. The company reported earnings of 24 cents per share, 8 cents lower than expected, and revenue of $3.71 billion, $60 million lower than expected. Zuora reported a loss of 11 cents per share, versus Refinitiv’s expected loss of 13 cents. The company reported earnings of 81 cents per share, versus the 69 cents expected. Shares of Dell Technologies dropped 3% after the computer software company reported mixed first-quarte
Stocks making the biggest moves after hours: Uber, Gap, Zuora and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: nadine el-bawab
Keywords: news, cnbc, companies, gap, company, earnings, share, biggest, cents, billion, zuora, stocks, moves, revenue, making, reported, million, loss, expected, hours, uber


Stocks making the biggest moves after hours: Uber, Gap, Zuora and more

Uber CEO Dara Khosrowshahi (center) joins other employees in ringing the Opening Bell at the New York Stock Exchange (NYSE) as the ride-hailing company Uber makes its highly anticipated initial public offering (IPO) on May 10, 2019 in New York City.

Check out the companies making headlines after the bell:

Shares of Uber jumped nearly 3% in extended trading after the ride-hailing company reported better-than-expected revenue its first quarterly report since going public earlier this year. The company reported a net loss of $1.01 billion and revenue of $3.10 billion. Wall Street had expected a net loss of $1.01 billion on revenue of $3.04 billion, according to Refinitiv consensus estimates.

Shares of Gap sank more than 11% after the retailer reported first-quarter earnings that fell short of expectations. Gap reported a 4% drop in same-store sales, wider than the 1.1% drop that was expected. The company reported earnings of 24 cents per share, 8 cents lower than expected, and revenue of $3.71 billion, $60 million lower than expected.

Ulta Beauty stock dropped 2% after the makeup retailer reported mixed first-quarter results. Ulta reported earnings of $3.26 per share, 19 cents higher than expected, but revenue of $1.74 billion, $10 million lower than expected. Comparable store sales were in line with expectations.

Nutanix stock plunged 15% after the software company posted weak quarterly results and revenue guidance for the upcoming fourth-quarter. The company expects a fourth-quarter loss of about 65 cents per share and revenue between $280 million and $310 million. Analysts had expected a loss of 49 cents per share for the coming quarter.

Nuntanix reported a third-quarter loss of 56 cents per share and revenue of $288 million, while analysts surveyed by Refinitiv projected a loss of 60 cents per share and revenue of $297 million.

Zuora lost a quarter of its market value after the cloud company gave weak guidance for the current fiscal year. The company said full-year revenue would fall between $268 million and $278 million, below the $291.1 million consensus estimate. Zuora reported a loss of 11 cents per share, versus Refinitiv’s expected loss of 13 cents. Revenue fell practically in line with Wall Street expectations.

Shares of Williams-Sonoma surged 12% after the home goods retailer reported first-quarter earnings that surpassed analyst expectations. The company reported earnings of 81 cents per share, versus the 69 cents expected. Comparable sales jumped 3.5%, versus the expected 1.7% rise. Revenues were in line with estimates.

Shares of Dell Technologies dropped 3% after the computer software company reported mixed first-quarter results. Dell reported earnings of $1.45 per share on revenue of $22 billion, while analysts had expected earnings of $1.21 per share on revenue of $22.2 billion, according to Refinitiv consensus estimates.

Shares of Okta popped more than 6% after the cloud company reported a loss of 19 cents per share, better than Refinitiv’s expected loss of 21 cents per share, and revenue of $125.2 million, higher than the expected $116.9 million.


Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: nadine el-bawab
Keywords: news, cnbc, companies, gap, company, earnings, share, biggest, cents, billion, zuora, stocks, moves, revenue, making, reported, million, loss, expected, hours, uber


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Trump says he expects trade gap with Japan to be ‘straightened out rapidly’

U.S. President Donald Trump said Monday he expects to get the trade gap with Japan “straightened out rapidly,” adding that announcements on that could come as soon as August. “We’ll get the balance of trade, I think, straightened out rapidly.” According to the U.S. Trade Representative, the U.S. had a deficit of $56.8 billion in goods and services with Japan in 2018. But earlier in Mar, Trump delayed a decision on car levies for up to six months and directed U.S. Trade Representative Robert Ligh


U.S. President Donald Trump said Monday he expects to get the trade gap with Japan “straightened out rapidly,” adding that announcements on that could come as soon as August. “We’ll get the balance of trade, I think, straightened out rapidly.” According to the U.S. Trade Representative, the U.S. had a deficit of $56.8 billion in goods and services with Japan in 2018. But earlier in Mar, Trump delayed a decision on car levies for up to six months and directed U.S. Trade Representative Robert Ligh
Trump says he expects trade gap with Japan to be ‘straightened out rapidly’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: huileng tan
Keywords: news, cnbc, companies, gap, president, straightened, visit, japanese, trump, expects, japan, trade, progress, think, representative, rapidly, united


Trump says he expects trade gap with Japan to be 'straightened out rapidly'

U.S. President Donald Trump said Monday he expects to get the trade gap with Japan “straightened out rapidly,” adding that announcements on that could come as soon as August.

Trump was speaking ahead of his meeting with Japanese Prime Minister Shinzo Abe in Tokyo, as the American president embarked on a state visit amid looming trade issues between the two countries.

“Trade-wise, I think we’ll be announcing some things, probably in August that will be very good for both countries,” Trump said, according to Reuters. “We’ll get the balance of trade, I think, straightened out rapidly.”

According to the U.S. Trade Representative, the U.S. had a deficit of $56.8 billion in goods and services with Japan in 2018.

The president’s state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.

But earlier in Mar, Trump delayed a decision on car levies for up to six months and directed U.S. Trade Representative Robert Lighthizer to seek trade agreements with Tokyo and Brussels.

Still, the president ratcheted up pressure on Japan the first day he arrived, saying on Saturday that “Japan has had a substantial advantage for many, many years. ” He also called on Japanese businesses to invest more in the United States.

“President Trump … would like to claim credit for some progress on trade — whether it’s agriculture or products or automobiles, but he can wait because his election isn’t till November next year, ” said Glen Fukushima, former deputy assistant of United States Trade Representative for Japan and China during Ronald Reagan’s administration told CNBC on Monday.

Trump had previously said he did not expect major progress until July, when Abe’s ruling bloc faces an election for parliament’s upper house.

“Trump and Abe have established a good relationship. Both have been relying on each other to help them domestically,” said Fukushima, who is now senior fellow at the Center for American Progress think tank.


Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: huileng tan
Keywords: news, cnbc, companies, gap, president, straightened, visit, japanese, trump, expects, japan, trade, progress, think, representative, rapidly, united


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North Korea calls US National Security Advisor John Bolton a ‘war fanatic’

Trump says he expects trade gap with Japan to be ‘straightened…U.S. President Donald Trump said Monday he expects to get the trade gap with Japan “straightened out rapidly,” adding that announcements on that could come as soon as August. World Economyread more


Trump says he expects trade gap with Japan to be ‘straightened…U.S. President Donald Trump said Monday he expects to get the trade gap with Japan “straightened out rapidly,” adding that announcements on that could come as soon as August. World Economyread more
North Korea calls US National Security Advisor John Bolton a ‘war fanatic’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-27
Keywords: news, cnbc, companies, soon, national, bolton, advisor, war, gap, north, john, straightenedus, straightened, security, president, japan, trump, rapidly, expects, fanatic, trade, calls, korea


North Korea calls US National Security Advisor John Bolton a 'war fanatic'

Trump says he expects trade gap with Japan to be ‘straightened…

U.S. President Donald Trump said Monday he expects to get the trade gap with Japan “straightened out rapidly,” adding that announcements on that could come as soon as August.

World Economy

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Company: cnbc, Activity: cnbc, Date: 2019-05-27
Keywords: news, cnbc, companies, soon, national, bolton, advisor, war, gap, north, john, straightenedus, straightened, security, president, japan, trump, rapidly, expects, fanatic, trade, calls, korea


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